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General Awareness

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General Awareness - Top Stories

26 Nov 2018

INTERNATIONAL AFFAIRS

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EU Leaders Back Brexit Deal

A year and a half of negotiations on the terms of Britain's withdrawal from the EU came to an end formally, as leaders of the 27 EU nations agreed to the terms of the controversial agreement at a summit in Brussels.
The approval comes after Britain and Spain reached agreement on the status of Gibraltar, removing a last-minute dispute that threatened to jeopardise the deal. However, it is far from the end of the battle for Britain's Conservative government, which faces stiff opposition within its own ranks and from other political parties, who could vote down the deal as it passes through the parliamentary approval process. 

Allow Migrants Only if Court Clears

U.S. President Donald Trump has said that migrants at the southern border will not be allowed into America until a court approves their claims individually.
Mr. Trump's comments came in the wake of a caravan of people, mostly from three Latin American countries El Salvador, Guatemala and Honduras, inching closer to the U.S.-Mexico border with the intention of illegally entering America, a trend that has been going on for the past several decades.

Re-Opening of San Ysidro Port

US authorities re-opened the San Ysidro port of entry into Mexico after briefly closing it following an attempt by hundreds of migrants to breach a fence. First pedestrian access was resumed, followed by vehicle traffic.
The San Ysidro crossing point is one of the busiest between the two countries.

BUSINESS AND ECONOMY

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SCB Files Plea in NCLT

Standard Chartered Bank (SCB) has approached the Ahmedabad Bench of the National Company Law Tribunal (NCLT), seeking to reject the resolution plan of Rs. 42,000 crore submitted by ArcelorMittal for Essar Steel.
Last month, the bank had filed a caveat in the Essar Steel insolvency case in the dedicated bankruptcy court as dissenting financial creditor, so that it could be heard before the tribunal decides on ArcelorMittal's bid.
The Indian subsidiary of British banking major Standard Chartered, which has more than 7.5% weightage in the voting process, has voted against the resolution plan of ArcelorMittal, which was approved by the CoC and sent to NCLT for approval.

IT Department Sells Shares of Cairn Energy

The Income Tax Department has sold almost all of Cairn Energy Plc.'s attached shares to recover a part of the Rs. 10,247 crore retrospective tax demand. Cairn Energy held 4.95% stake in Vedanta Ltd., which the department attached after issuing a Rs. 10,247 crore tax demand in 2014 on alleged capital gains the British firm made on a decade-old reorganisation of its India business.

NATIONAL AFFAIRS

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Indus Waters Treaty

The Government of India has decided to fast-track three projects, including construction of two dams, to arrest the unutilised water of its share under the bilateral Indus Waters Treaty with Pakistan.
The three projects include the Shahpur Kandi dam project, a second Sutlej-Beas link in Punjab and the Ujh Dam project in Jammu and Kashmir.
Under the Indus Waters Treaty, waters flowing in three of Indus tributaries, the Sutlej, Beas and Ravi, have been allotted to India; while the Chenab, Jhelum and Indus waters have been allotted to Pakistan.

InterGlobe Aviation Chairman Passes Away

InterGlobe Aviation, which operates the country's largest airline IndiGo, said that its chairman Devadas Mallya Mangalore passed away. He was also a non-executive independent director. He had served as the CMD of Bank of Baroda and Bank of Maharashtra.
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