US Sanctions on Banks engaged in Iranian oil transactions

United States announced new sanctions against foreign banks that assist Iran sell its oil. The fresh sanctions will target anyone buying Iranian petrochemicals or facilitating payments to Iran, including an Iraqi or Chinese Bank. This has been done to further ..

Month: Current Affairs - August, 2012

US, Pakistan sign NATO Supply Agreement

US, Pakistan signed NATO Supply Agreement on transporting supplies for NATO troops in Afghanistan through Pakistan. As per the agreement, the US will give $ 1.1 billion aid to Pakistan for fighting terrorists within its borders. The agreement will expire ..

Month: Current Affairs - August, 2012

India, China to enhance Defense, Security Dialogue, reach $100 Billion Trade Target

India and China are ready to enhance defense and security dialogue and work in the direction of achieving the bilateral trade target of 100 billion dollars. The agreement reached on the sidelines of the Rio+20 Environment Summit during a dialogue ..

Month: Current Affairs - August, 2012

China promises $ 20 Billion Loan to Africa

China has promised to provide $ 20 billion loan to African countries over the next three years. The announcement was made by the Chinese President Hu Jin Tao at the opening session of the 5th Forum on China-Africa Cooperation (FOCAC) in ..

Month: Current Affairs - July, 2012

$ 3 billion compensation to Sudan for economic losses: South Sudan

South Sudan has extended a compensation of more than 3 billion dollars to its neighbor Sudan for economic losses incurred due to the South’s independence. They are negotiating in Ethiopia to resolve bitter differences ahead of a U.N deadline on ..

Month: Current Affairs - July, 2012

U.S. slashes military aid to Pak by$650 m

In a latest jolt at Pakistan by the U.S., the House of Representatives has voted to slash American military aid to Islamabad by $650 million. The Republicans had actually demanded a $1.3 billion cut, but settled for the $650 million ..

Month: Current Affairs - July, 2012

India extends energy & mining sector support to Cuba

India extended its proficiency and support to Cuba in energy and mining sectors. Minister of State for Commerce and Industry assured this to Cuba. Indian companies can engage in Cuba through investment in exploration, production, refining and marketing. Recently, the ..

Month: Current Affairs - July, 2012

India to build 43,000 housing units for dislocated Tamils in Sri Lanka

India will build 43,000 housing units for resettlement and rehabilitation of the war affected and dislocated Tamils in Sri Lanka’s former troubled areas in the northern and eastern provinces, as part of a $ 270 million project. A pilot project ..

Month: Current Affairs - July, 2012

India and Singapore extend military training pact

India and Singapore inked 3 major pacts including one on continuing the military training that Indian armed forces extend to their Singaporean counterparts. These agreements coincide with the state visit of Singapore PM Lee Hsien Loong to India. India is ..

Month: Current Affairs - July, 2012

Lee Hsien Loong, the Singapore PM finds Indian Business environment complicated

Singapore PM Lee Hsien Loong on his visit to India asserted that Business environment in India is complicated. From the term “Complicated” he was referring to red-tapism. Although he didn’t point to the proposed GAAR or retrospective Income Tax Act ..

Month: Current Affairs - July, 2012