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Current Affairs - June 2015India, Thailand ink MoU on Double Taxation Avoidance Treaty

June 30, 2015 5 Comments

India and Thailand signed a Memorandum of Understanding(MoU) on double taxation avoidance treaty (DTAT).The MoU was signed during 7th meeting of the India-ThailandJoint Commission for Bilateral Cooperation co-chaired byExternal Affairs Minister Sushma Swaraj.Apart from DTAT, both nations signed and exchanged

instruments of ratification on the extradition treaty inked in 2013. This treaty providesfor the legal framework for extradition of fugitive offenders.Both nations also signed a MoU on the establishment of Nalanda University in Bihar,India. By signing this agreement, Thailand joins other East Asian Summit countries in theestablishment of and revival of an ancient center of learning at Nalanda.It should be noted that India-Thailand Joint Commission for Bilateral Cooperationmeeting took place after a gap of three years due to the changes in government inThailand.Tags: India-International Affairs • India-Thailand • Taxation

First 3D anatomic heart model printed using multiple imagingtechniques

June 30, 2015 2 Comments

Team of heart experts including an Indian-origin surgeon Dr.Joseph Vettukattil for first time have printed three dimensional(3D) anatomic heart model using multiple imaging techniques.This hybrid 3D model of heart was successfully printed usingintegration of 3D transesophageal echocardiography (3DTEE)and computed tomography (CT).

The team had used specialised software to register images in order to selectivelyintegrate datasets and produce an accurate anatomic model of the heart.This study is considered as a huge leap for individualised medicine in the medical fieldof cardiology and congenital heart disease. This technological breakthrough will help topromote better diagnostic capability and improve interventional and surgical planningand also provide alternative to surgery in cases of Heart diseases.This technology also opens the new way in medical technology for producinganatomical parts by using the combination with a third tool of magnetic resonance

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imaging (MRI).Dr. Joseph Vettukattil is known internationally for his work and research in the field ofthree and four-dimensional echocardiography.Tags: International • Medical • Science And Technology

50 nations, including India sign 60-article agreement on China-led AIIBJune 30, 2015 2 Comments

50 founding nations including India have signed 60-articleagreement of China-led multilateral Asian InfrastructureInvestment Bank (AIIB).Australia was the first country to sign the agreement and wasfollowed by 49 other members. Indian Ambassador AshokKantha signed the agreement on behalf of country.

The 60-article agreement provides the legal framework forInstitution of AIIB.Each member’s capital share and voting share.

Governance structure of AIIB.Policy-making mechanism of AIIB.

Facts about Asian Infrastructure Investment Bank (AIIB)Designed to finance infrastructure projects including energy, transport andinfrastructure projects in Asia.AIIB is seen as a rival to the World Bank and Asian Development Bank (ADB) whichmanaged by most prominent countries like US, Japan and European etc.

Headquarters:Beijing. It will be operational by end of 2015.Authorized capital: It will be of 100 billion US dollars. The initial subscribed capital willbe around 50 billion US Dollar and the paid-in ratio will be 20 per cent.Regional character of the Bank: Its regional members (Asian) will be the holdingaround 75 percent of shares i.e. they will be majority shareholders.

They have been allocated their capital share on quota basis i.e. based on theireconomic size.Voting share: for each member country it is based on the size of their economy andnot on authorised capital share to the Bank.Largest shareholders: China is highest contributor to AIIB with 29.78 billion US dollarsi.e. with a 30.34 percent stake in authorized capital.

China will have 26.06 per cent of the voting rights along with veto powers for certainkey decisions.India: second largest shareholder with 8.52 per cent stake and voting share of 7.5 percent.Russia: third largest shareholder with 6.66 stake and voting share of 5.92 per cent.

It should be noted that there are 57 founder-member countries AIIB. Seven countrieswere not able to sign this agreement as it was not ratified by their respective domesticauthorities. The seven countries are Denmark, Malaysia, Kuwait, Holland, Philippines andSouth Africa and Thailand.Tags: AIIB • Australia • Banking • Business • China • Economy • Germany • IndiaInternational Relations • Russia

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