The Asian Development Bank has elected Masatsugu Asakawa as its new president. He is currently serving as a Special Advisor to Japan’s Prime Minister and Minister of Finance. He is set to assume office as ADB's 10th president on Jan 17, 2020.
ADB: Members – 68; HQ – Manila, Philippines.
India has decided to establish a National Maritime Heritage Museum at Lothal. The museum will be an independent research centre of underwater archaeology for reconstruction of maritime history, archaeology of boat building and materials traded.
Lothal is a Harappan site on the Saurashtra coast in Gujarat.
FM Nirmala Sitharaman stated that nearly 78% depositors of Punjab and Maharashtra Co-operative Bank have been allowed to withdraw their entire deposits. The steps are being taken to seize properties of promoters of PMC Bank & to auction such properties.
The ceiling of withdrawal from the bank is ₹ 50,000.
Mercedes’ driver Lewis Hamilton has won the 2019 Abu Dhabi Grand Prix by defeating Red Bull’s Max Verstappen. It was Hamilton’s 11th victory out of 21 races. It moves his career total to 84 wins. Ferrari’s Charles Leclerc stood at 3rd place in the event.
Lewis Hamilton also won the 2019 Mexican Grand Prix.
Ursula von der Leyen is the first woman to hold the post of President of the European Commission. She is the former German defence minister. She succeeds Jean-Claude Juncker. She has made the issue of climate change one of her top priorities.
European Union: HQ – Brussels, Belgium.
LS passed a Bill to replace an Ordinance for effecting reduction of corporate tax rates. It will amend Income Tax Act,1961 & Finance (No2) Act. The tax for existing comp has reduced to 22% & 15% for new manufacturing firms incorporated after Oct 1, 2019.
Manufacturing firms should start operations before Mar 31, 2023.
International Finance Corporation has anchored an investment of USD 200 million in Mahindra & Mahindra Financial Services to create a dedicated pool of financing for MSMEs in low-income states. At least $ 100 million will be earmarked for women-owned MSMEs
Total credit gap for MSMEs in India is 15% of GDP (IFC study).
Walmart India, in partnership with HDFC Bank, launched a co-branded credit card exclusively for members of its Best Price Modern Wholesale ‘B2B Cash & Carry’ stores. The co-branded credit card offers free credit up to 50 days.
Krish Iyer - President and CEO of Walmart India.
Crisil has cut the growth forecast for the current FY to 5.1% from 6.3%. The agency stated that the growth in the 2nd half of 2019-20 will go up to 5.5%, up from 4.75% in the 1st half. Crisil's revision is among the lowest after Nomura's 4.7% forecast.
RBI revised the GDP growth rate for the current FY to 6.1%.
Lionel Messi won the record 6th Ballon d'Or award in Men’s category. He defeated Virgil van Dijk & Cristiano Ronaldo to take the honours. It is his 1st Ballon d'Or since 2015. USA’s Megan Rapinoe took women's prize. She succeeded Ada Hegerberg (Norway).
Rapinoe won Golden Boot for top scorer with six goals.
The day aims to promote the rights & well-being of persons with disabilities in all spheres of society & development. 2019 Theme is ‘Promoting the participation of persons with disabilities & their leadership: taking action on the 2030 Development Agenda’.
It was proclaimed in 1992 by UN General Assembly resolution 47/3
The Global Migration Film Festival was organized in Dhaka. A day-long festival screened 15 films on the theme of migration. It was organized by International Organisation of Migrants & Dhaka University Film Society with the support of the European Union.
The Global Migration Film Festival was started in 2016.
Vice President M Venkaiah Naidu launched the "Bharatiya Poshan Anthem" which aims at taking the message of making India malnutrition-free by 2022 to all corners of the country.The anthem was conceptualized by the Ministry of Women and Child Development.
Penned by lyricist Prasoon Joshi & sung by Shankar Mahadevan.
Nagaland Chief Minister, Neiphiu Rio officially inaugurated the Multi Media Exhibition at World War II museum, Kisama in Nagaland. Ministry of Information & Broadcasting organized a Multi Media Exhibition.
R N Ravi, Nagaland governor.
The UN General Assembly in its 73rd session in December 2018 adopted a resolution, declaring 2020 as the International Year of Plant Health (IYPH). The IYPH launch event took place at Sheikh Zayed Center, FAO Headquarters.
Director-General FAO, Qu Dongyu, HQs-Rome, Italy.