India and China: The two-day informal summit between Prime Minister Narendra Modi and Chinese President Xi Jinping concluded on Saturday with the two sides agreeing to set up a new mechanism to address trade deficit, improve investment and services. Foreign Secretary Vijay Gokhale said that from China, it would be Vice-Premier Hu Chunhua and from India, it would be Union Finance Minister Nirmala Sitharaman. They would also discuss how to reduce trade deficit.
ED: The Enforcement Directorate today said that it has attached assets worth over Rs 4,025 crore of Bhushan Power and Steel Limited (BPSL) in connection with its money laundering probe linked to an alleged bank loan fraud. The Enforcement Directorate (ED) has obtained a production warrant from the special court of Prevention of Money Laundering Act (PMLA) for his custodial interrogation of former finance minister P Chidambaram in the INX Media case.
Sahyatri: On October 11, The Indian Railways launched a Sahyatri mobile app and a website http://www.railways.delhipolice.gov.in/ through which the passengers can register their complaints online. It was launched by Union Minister of State Mr Nityanand Rai at New Delhi.
- Prime Minister Narendra Modi will inaugurate the much-awaited Kartarpur corridor to Sri Kartarpur Sahib in Pakistan on November 8
- Prime Minister Narendra Modi has accepted the invitation of President Xi Jinping to visit China for a third informal summit next year
- Kashmir wasn’t discussed at Modi-Xi summit: Foreign Secretery
- Xi departs for Nepal after summit with Modi
Global Smart Cities Alliance: On October 11, India became a member of Group of 20 (G20) Global Smart Cities Alliance on Technology Governance which works towards advancing the responsible and ethical use of smart city technologies. The World Economic Forum serves as secretariat for the Alliance.
UK: On October 10, The United Kingdom’s Chancellor of the Exchequer Mr Sajid Javid (Pakistani-origin British finance minister) notified that the UK government will issue a commemorative coin to mark the 150th birthday anniversary of Mahatma Gandhi.
US-CHINA TRADE: US President Donald Trump on October 11 outlined the first phase of a deal to end a trade war with China and suspended a threatened tariff hike, but officials on both sides said much more work needed to be done before an accord could be agreed. The emerging deal, covering agriculture, currency and some aspects of intellectual property protections, would represent the biggest step by the two countries.
- Alexei Leonov, first man to walk in space, dies
UBI: On October 11, Union Bank of India has signed a memorandum of understanding (MoU) with Government e-Marketplace (GeM) to provide cashless, paperless and transparent payment system to small traders.
Infosys: On October 11 Infosys reported a 9.8 percent year-on-year (YoY) rise in revenue to Rs 22,629 crore. Its YoY net profit fell 2.2 percent to Rs 4,019 crore, but this was a 5.8 percent rise, sequentially.
CODE OF CONDUCT FOR CONTENT PROVIDERS: OTT players had agreed to a ‘code of best practices for online curated content providers’. The code was criticised for being very vague. At least nine OTT[OVER THE TOP] digital players, including Netflix, Hotstar, Zee5, and ALT Balaji, had pledged to adopt the model code, or a set of best practices for content regulation, which was put together by industry body Internet and Mobile Association of India (IAMAI). Other signatories included Viacom18, Arre, Eros Now, Sony Pictures Networks, and Jio Digital Life. The Internet & Mobile Association of India (IAMAI) is not-for-profit industry body registered under the Societies Act, 1896[UK]. Its mandate is to expand and enhance the online and mobile value-added services sectors.
At present, Internet and Mobile Association of India (IAMAI) working in the following areas:
- Digital Advertising
- Cyber Security
- Digital Entertainment
- Sharing Economy
- Digital Gaming
- Big Data
- Digital Commerce
- Digital Payments
- Internet of Things [IoT]
- Artificial Intelligence
- Public Policy
Categories: Current Affairs