Current Affairs For SSC CGL Exam - 25 July, 2014

Current Affairs For SSC CGL Exam

India, the United States and Japan are embarking on joint naval manoeuvres in the Pacific Ocean on Thursday as part of the Malabar series of exercises. The exercise, in which 800 personnel from the Navy will participate, follows the U.S.’s strategic pivot to Asia — a doctrine that will result in the shifting of a bulk of American naval assets in the Asia-Pacific over the next decade.
The shift in the U.S. military posture is seen as part of a new initiative to contain China. However, Indian officials say that India will exercise its “strategic autonomy” but will not participate in a U.S. led counter-China policy with Japan and Australia as partners.
The Navy is fielding a frigate, a destroyer, and a supply vessel in the week-long exercise meant to focus on anti-piracy and anti-terrorism operations. The three countries earlier participated in joint exercises in 2009, and Singapore and Australia were also part of the manoeuvres in 2007. This exercise follows the Indra-14 drills that India and Russia held in the Sea of Japan.

An Air Algerie flight carrying 116 people from Burkina Faso to Algeria’s capital Algiers disappeared from radar over northern Mali after heavy rains were reported, nearly half of the passengers were French.
The plane sent its last message around 1.30 a.m. GMT (9.30 p.m. EDT), asking Niger air control to change its route because of heavy rains in the area.
Northern Mali fell under control of ethnic Tuareg separatists and then al-Qaeda-linked Islamic extremists following a military coup in 2012. A French-led intervention last year scattered the extremists, but the Tuaregs have pushed back against the authority of the Bamako-based government.

Cabinet Committee on Economic Affairs (CCEA) approvED the raising of Foreign Direct Investment (FDI) cap in insurance from 26 per cent to 49 per cent through the Foreign Investment Promotion Board route.
The government will bring a Bill before Parliament in the current session in this regard. The Bill for the same proposal that was moved by the UPA government, lapsed after the last Lok Sabha's dissolution.
The insurance industry has been demanding a hike in the FDI limit for long. As the insurance business grows, so do capitalisation needs. But insurance firms are restricted by the existing FDI cap from tapping overseas investors for capital while Indian investors don’t always have deep pockets.