DAILY CURRENT AFFAIRS: 28TH NOV 2016
(Daily News India)
Shared By: WWW.DailyGk.IN
1. INDIA HOST THE GOLDEN JUBILEE CELEBRATIONS OF UNCITRAL IN NEW DELHI
i. UN organised the two day conference “Global Standards for Rule-based Commerce” at Vigyan Bhavan in New Delhi to celebrate 50th anniversary of United Nations Commission on International Trade uncitral Law
ii. The conference was inaugurated by President Pranab Mukherjee then it is followed by five sessions
Session 1: Redefining Arbitrability: To Expand or Not To Expand
Session 2: 50 Years of UNCITRAL: Experience from the Asia-Pacific Region
Session 3: Tackling the Next Level: Emerging Legal Standards for Electronic Commerce across Borders
Session 4: Call for Consistency: The Future of Cross-Border Insolvency
Session 5: Innovation and Reform for Efficiency and Legitimacy in Investment Arbitration
iii. The United Nations Commission on International Trade Law was established by the United Nations General Assembly in 1966 to promote the progressive harmonization and unification of international trade law”.
2. NGO STARTS 16-DAY CAMPAIGN ‘EVERY 8 MINUTES’ AGAINST CHILD TRAFFICKING
i. Association for Promoting Social Action a NGO starts 16-day campaign 'Every8Minutes'against child trafficking.
ii. It is launched to create awareness against child trafficking and missing children in the city.
iii. The step was taken after a report released by National Crime Records Bureau showed that a child goes missing in India every eight minutes and 40 per cent of these children remain untraced.
3. BOFA LOWERS GDP FORECAST TO 7.1% FOR FY 2017
i. Bank of America Merrill Lynch has lowered India’s economic growth estimates to 7.1 per cent for the current fiscal after the demonetisation of Rs 500 and Rs 1,000 notes.
ii. Earlier, BofA had estimated GDP growth at 7.4 per cent for 2016-17 and 7.6 per cent for 2017-18
4. GOVERNMENT REMOVES EXCISE DUTY ON POINT OF SALE MACHINE
i. Government removed excise duty on goods for manufacturing of POS machines that are in great demand as merchants are being compelled to use them in the wake of currency crisis.
ii. POS machines will be exempted from 12.5 per cent excise duty and 4 per cent Special Additional Duty till March 31, 2017.
5. ARGENITNA WIN THEIR FIRST EVER DAVIS CUP
i. Argentina defeated Croatia to win their first ever maiden Davis Cup tennis title in Zagreb, Croatia .
ii. Argentina had lost in the final of the tournament four times earlier while Croatia won the title in 2005.
iii. The Davis Cup is the premier international team event in men’s tennis.
iv. It is also known as ‘World Cup of Tennis’