Current Affairs 2016

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MS Dhoni sole Indian in Forbes list of The World’s Highest-Paid Athletes 2015

Cricketer Mahendra Singh Dhoni is the only Indian to find place in the Forbes magazine’s list of 100 World’s Highest-Paid Athletes 2015

He was placed at 23rd on the Forbes list with total earnings of 31 million dollars including amount from salary at 4 million dollars and endorsements worth 27 million dollars.

This edition of list was again topped by US boxer Floyd Mayweather for third time. It should be noted that the earnings figures include sum of salaries, bonuses and prize money paid between June 2014 and June 2015.

Top ten World’s Highest-Paid Athletes 2015 are

  • Floyd Mayweather (Boxing) from US: $ 300 million.
  • Manny Pacquiao (Boxing) from Philippines: $ 160 million.
  • Cristiano Ronaldo (Football) from Portugal: $ 79.6 million.
  • Lionel Messi (Football) from Argentina: $73.8 million.
  • Roger Federer (Tennis) from Switzerland: $67 million.
  • LeBron James (Basketball) from US: $64.8 million.
  • Kevin Durant (Basketball) from US: $54.1 million.
  • Phil Mickelson (Golf) from US: $50.8 million.
  • Tiger Woods (Golf) from US: $50.6 million.
  • Kobe Bryant (Basketball) from US: $49.5 million.

In this edition of list only two women athletes made to the list they are

  • Maria Sharapova (Tennis) from Russia: She was placed at 26th rank with total earnings of $ 31 million.
  • Serena Williams (Tennis) from US: She was placed at 47th rank with total earnings of $ 6 million.

The 100 highest-paid athletes of this edition of list have made 3.2 billion dollars in total in last one year which is 17 percent more compared to previous year.

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26 African countries create TFTA: Cape Town to Cairo free-trade zone

African countries have signed a historic The Tripartite Free Trade Area (TFTA) that facilitates creation of Africa’s largest free-trade zone.

This free-trade zone will cover 26 countries in an area from southernmost tip of African continent i.e. Cape Town (South Africa) to Cairo (Egypt) in the north.

The pact was signed in Egypt will intent to ease the movement of goods across 26 member countries which represent more than half the continent’s GDP.

TFTA pact combines existing three trade blocs among the African nations viz

  • Southern African Development Community (SADC).
  • East African Community (EAC).
  • Common Market for Eastern and Southern Africa (COMESA).

It will remove trade barriers on most goods, making them cheaper and stimulating $ 1 trillion worth of economic activity across the region of more than 600 million people. Thus bolster intra-regional trade by creating a wider market that will increase investment flow and enhance regional infrastructure development.

The pact will then be officially unveiled at the upcoming 25th summit of the African Union in South Africa. After adopting it will need parliamentary ratification from all member-nations.

Map Source: Agence France-Presse (AFP)

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Union Cabinet gives nod to Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement

Union Cabinet meet chaired by Prime Minister Narendra Modi has approved the signing of Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement.

The agreement which is similar to the SAARC Motor Vehicle Agreement (MVA) seeks to regulate the vehicular traffic of passenger, personal and cargo amongst BBIN countries.

The agreement will be signed on 15th June 2015 at the Transport Minister’s meeting in Thimpu, Bhutan.

Key Facts

  • BBIN agreement aims to promote safe, environmentally sound and economical efficient road transport in the sub-region of BBIN.
  • It also seeks to help each member country to create an institutional mechanism for regional integration.
  • BBIN agreement will benefit member nations for mutual cross border movement of passenger and goods for overall economic development of the region.
  • For implementation of this agreement each signatory member will bear its own costs.

Background

  • During the 18th SAARC Summit held in Kathmandu, Nepal SAARC MVA was not able to signed due to reservations of Pakistan.
  • However, the SAARC declaration at the 18th Summit had encouraged Member States to initiate regional and sub-regional measures to enhance connectivity.
  • In line with this declaration, BBIN Motor Vehicle Agreement was pursued among four SAARC members.
  • Draft of this agreement was finalized in February 2015 in the meeting of Secretaries of Transport of the BBIN countries which was organized by the Ministry of Road Transport and Highway (MoRTH).

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