South Korea to expand its ADIZ
The latest move in a regional struggle over airspace above the East China Sea marks the South Korea’s decision to expand its ADIZ.
China’s new air defense zone over the East China Sea is creating tensions in the world’s most geo-politically sensitive areas that includes the disputed Diaoyu or Senkaku islands in the East China Sea, which are controlled by Japan and but claimed by China, and the submerged Leodo reef, which is under South Korea’s control.
Why China’s ADIZ is fueling tensions with Japan & S.Korea ?
The new aerial zone extends into international airspace east of China’s territorial airspace into the East China Sea, and up to 130 km from Japan’s territorial airspace. The Chinese ADIZ overlaps with the ADIZ that Japan has already established in the region, with both zones covering the disputed Diaoyu or SenkakuIslands in the East China Sea.
The zone includes a rock 15 feet below the water’s surface known internationally as Socotra. The formation lies within the economic zones of both China and South Korea, and it has long been a point of modest contention between the neighbors. The rock is controlled by South Korea, where it is known as Ieodo. Seoul uses the site as an oceanic research center, having constructed an orange tower of beams and a helipad atop the rock in 2003. The research center has solar panels, wind monitors, barometric sensors and a solar radiation measurement system, and the monitoring data are displayed in real time on a government Web site.
South Korea to expand its ADIZ:
The latest move in a regional struggle over airspace above the East China Sea marks the South Korea’s decision to expand its ADIZ, it’s new zone includes two small islands and a submerged rock that is the subject of a long-running dispute with China. Korea’s latest declaration is viewed as an attempt fortify its control over parts of the East China Sea surrounding the Leodo reef, which, earlier, lay beyond the southern edge of its zone. The eastern and western limits of its ADIZ have not been expanded.
Note: Air Defense Identification Zones (ADIZ) are not territorial claims, but they mark airspace that countries think it important to monitor.
Assembly polls verdict: BJP bags MP, Chhattisgarh and Rajasthan, AAP makes stunning debut
The BJP clinched majority of seats in the Assembly Elections in Rajasthan,Madhya Pradesh and Chhattisgarh. The Aam Aadmi Party (AAP) made remarkable debut in Delhi where it clinched 28 of 70 seats. In Delhi, though the BJP secured highest number of seats (31) but it fell short of 5 seats for attaining the majority.
A glance at 2013 State Assembly Poll Results:
| Party | Seats Won in DELHI | Madhya Pradesh | Rajasthan | Chhattisgarh |
| BJP | 31 | 165 | 162 | 49 |
| Congress | 8 | 58 | 21 | 39 |
| AAP | 28 | - | - | - |
| BSP | 0 | 4 | 3 | 1 |
| Others | 2 | - | 6 | - |
| Independent | 1 | 3 | - | 1 |
December 10 observed as Human Rights Day across the globe
December 10 was observed as Human Rights Day across the globe marking the Universal Declaration of Human Rights. The theme chosen for the year 2013 is ‘20 Years Working for Your Rights’.
What is the significance of Human Rights Day?
December 10 holds significance as it was on this day in 1948 when the United Nations General Assembly (UNGA) adopted and proclaimed, the Universal Declaration of Human Rights (UDHR), the first global declaration of human rights and one of the first major achievements of the new United Nations. The formal establishment of Human Rights Day occurred at the 317th Plenary Meeting of the General Assembly on December 4, 1950, when the General Assembly declared resolution 423(V), inviting all member states and any other interested organizations to celebrate the December 10 as they saw fit.
In 1993, the UNGA adopted Vienna Declaration and Programme of Action (VDPA) at the World Conference on Human Rights in Vienna, Austria which led to the creation of the UN High Commissioner for Human Rights for the promotion and protection of all human rights. Year 2013, the office of the UN High Commissioner for Human Rights marks 20 years since its establishment.
In addition, it is traditionally on December 10 that the five-yearly United Nations Prize in the Field of Human Rights and Nobel Peace Prize are awarded.
Investment corpus of pensions sector to reach above $1 trillion by 2025: Report
As per the report jointly prepared by the Confederation of Indian Industry (CII) and global professional services firm Ernst & Young (EY), after the passage of the Pension Fund Regulatory and Development Authority (PFRDA) Act 2013, investment corpus in the Indian pensions sector is likely to cross $1 trillion by 2025 as the sector moves forward to realize its full growth potential.
As per CII-CY report:
Pensions business offers a promising opportunity because of India’s changing demographics, an insufficient government-funded pensions system and the presence of a vivacious insurance and funds management sector.
By 2030, 180 million Indians or 12% of the population will be in the age bracket of 60-plus.
Pensions systems play a major role for the infrastructure sector, providing stability in capital markets.
The government has set a funding target of $1 trillion for the infrastructure sector for the 12th Plan (2012-16) period, while it expects the private sector to contribute 45% of the targeted investment.
Private pension funds are likely to provide 24% of the total corpus by 2025, while pensions and annuity products offered by life insurance companies are expected to contribute around 16%.
Current Status:
At present, the retirement funds corpus is in range of Rs.12-15 trillion, of which the Employees Provident Fund (EPF) holds one-third of the total, while the Public Provident Fund (PPF) and NPS account for about 2.5% each.
Telugu film industry suffered 300 crores losses in 2013
Year 2013 proved ominous for Telugu film industry as among 170-odd films released till December 7, 2013, only 12 to 14 films were either blockbusters, hits and average grossers, while more than 140-odd films were disasters and left more than 70-odd producers battling for existence. The downslide caused the Telugu cinema industry hefty losses of around Rs 300 crore.
While films like ‘Atharintiki Daredi’ bagged the spot of being most successful this year with 85-crore plus, other films that touched 40 crore mark were-Mirchi, Badshah, Nayak, Seethamma Vakitlo, whereas Gundejari Gallanthaiyinde and Balupu crossed 22 crores, while Prema Katha Chitram, grossed 15 crores and films like Tadaka, touched 10 crore mark and even small movies like ‘Swamy Ra Ra’ ( 7 crores) ‘Anthakamundhu Aa Tharvatha’ and Adda ( 3 to 4 crores) but industry sank deeply under the heap of 100-odd flops.
However, dreary performance of few star films jolted the industry since their films could not even fetch their production cost by a big margin- ‘Ramayya Vasthavayya ( 19 crores out of 35 crores), Shadow ( 12 crores out of 30 crores), Greekuveerudu (10 out of 22 crores), Iddarammayilitho (22 out of 33 crores), Toofan (10 out of 60 crores), Masala (10 out of 24 crores), Bhai (12 cores out of 25 crores) Sahasam (5 out of 11 crores) and the list goes on.
Major factors behind the debacle:
The failure of films and heavy losses can in 2013 can be attributed to certain factors like poor scripts, surging salaries of stars, technicians and rampant piracy and most significantly Telugu audience are not willing to digest crap in the name of star movies and rejected new-age small movies, if they lacked novelty and even the 60-days bandh in Seemandhra added to producer’s woes as it hampered collections of many films.
Investments by FIIs’ in stock market cross Rs 1 lakh crore mark in 2013
Foreign Institutional Investors (FIIs) equity investments in the Indian stock market have crossed Rs 1 lakh crore so far in 2013, while inflows are likely to boost up further after state assembly poll results have improved the probability of a BJP-led government at the Centre.
As per SEBI information, FIIs, key investors in the Indian stock market, were gross buyers of shares worth Rs 7,46,334 crore and sellers of equities worth Rs 6,45,757 crore till December 6, 2013. This translates into a net inflow of Rs 1,00,577 crore ($18 billion).
Since FIIs entry into the country’s capital markets in 1992-93, net inflows have exceeded Rs 1 lakh crore only in 2010 and 2012. The overseas investors had net invested Rs 1,28,360 crore in 2012, while in 2010, they made a record net inflow of Rs 1,33,266 crore.
As per experts, fund inflow by FIIs will step up further in the coming months as a major win for Bharatiya Janata Party (BJP) in assembly elections has improved the likelihood of the party coming to power at the Centre in 2014.
Noticeably, of the total net inflow, around Rs 37,000 crore flowed in during the last 3 months, following the steps taken by the RBI to resurrect the weakening rupee and revive economic growth.
EC declares AAP a state party
In the 2013 Delhi state assembly elections, AAP emerged as the second largest party in Delhi winning 28 seats in the assembly. After a remarkable performance in the Delhi state assembly election Aam Aadmi Party (AAP) is all set to be recognized as ‘a state party’ by the Election Commission.
About Aam Aadmi Party (AAP)
Mr. Arvind Kejriwal launched AAP on November 26, 2012, who was the former member of India Against Corruption (IAC) movement, founded by Anna Hazare.
Election symbol – Broom Stick
Central manifesto – to implement the Jan Lokapal Bill within 15 days of coming to power.
The AAP led several protests like a campaign against an alleged nexus between government and private corporations relating to price rises for electricity and water in Delhi, etc.
How does EC recognizes a ‘state party’?
As per the criteria of election commission, a party can be called as a state party if all its candidates get minimum of 8 percent votes or secure minimum of 6% of the total votes polled and one assembly seat for every 25 seats in the state. After the announcement, the party will have the option of retaining its original symbol or it may design an alternative symbol for its party.
Note: If a political party is recognized as a “State Party” in four or more States then it will automatically become a national party.
How much does recognition matter for any party? How does recognition of a Party as a ‘State Party’ helps that party ?
EC recognition of any party as a State Party will entail the party to participate in the all-party meetings convened by the EC/State/Central Government, get a permanent common symbol for all their contestants, privilege to address the voters through the All India Radio and Doordarshan during poll.
Miss Venezuela, Alyz Henrich crowned Miss Earth 2013
Miss Venezuela, Alyz Henrich was crowned Miss Earth 2013 title at a pageant organized at Versailles Palace, Philippines. It is the second beauty pageant title for Venezuela this year. In November 2013, Gabriela Isler, of the same nation was crowned Miss Universe 2013. India’s contestant Shobita Dhulipala couldn’t make it to the top 16 of the event.
The Top 3 runners-up:
Miss Earth Fire 2013 Catharina Choi of Korea
Miss Earth water 2013 Punika Kulsoontornrut of Thailand
Miss Earth Air 2013 is Katia Wagner of Austria
About Miss Earth:
Miss Earth is an annual international beauty pageant promoting environmental awareness. The contest held its maiden edition in 2001 to promote the preservation of the environment. Nicole Faria, who won in 2010, is the first Indian contestant to have won the title.
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