Current Affairs – May, 2013

BSE, S&P Dow Jones Indices launch S&P BSE 500 Islamic / Shariah index

An Islamic equity index was launched by BSE and S&P Dow Jones Indices – S&P BSE 500 Shariah index.  It comprises all Shariah compliant stocks of the broad based S&P BSE 500 index. The S&P BSE 500 consists of 500 most liquid Indian stocks traded at BSE Objective: The index will imbibe structures regarding finance Read More…

Abdul Hamid is the new Bangladesh President

Abdul Hamid was sworn in as 17th Bangladesh President replacing Zillur Rahman, who died last month.  Abdul Hamid was previously the parilamentary speaker of Bangladesh Assembly. Historical background Parliament speaker and acting President since March 14 when Mr. Rahman went for medical treatment to Singapore. Member of the Awami League. A former lawyer. Political career began Read More…

IMF warns Asia of “Middle Income Trap” and asset bubble

The International Monetary Fund (IMF) has indicated that a number of Asian countries are potentially susceptible to the “middle-income trap” and asset bubble Asian emerging economies need to guard against asset bubbles and they must improve government institutions and liberalize rigid labor and product markets if they wish to reach the level of developed countries. The Read More…

Bombay HC directs Maharashtra govt to release water into Jayakwadi dam

Bombay High Court has ordered the Maharashtra government to release water from upstream reservoirs into the Jayakwadi dam in the region. Jayakwadi dam The Jaikawadi project is a large irrigation and multipurpose project. Its water is used primarily to irrigate agricultural land in the drought-prone Marathwada region of the state. Provides water for drinking and industrial usage to nearby Read More…

Turkey chooses Asia, joins Shanghai Cooperation Organisation

Turkey, which is a NATO member, has joined the Russia and China led Shanghai Cooperation Organization (SCO). It has joined the SCO security bloc as a “dialogue partner” and declared that its destiny is in Asia. Why this shift? Turkey, which has been trying to get membership in the European Union, is upset over the slow progress Read More…