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September Month International Affairs - Guide4BankExams

September Month International Affairs - Guide4BankExams

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Published by Shiv Ram Krishna
September Month Current Affairs free Download
September Month Current Affairs free Download

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Published by: Shiv Ram Krishna on Oct 03, 2012
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InternatIonal affaIrs
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InternatIonal events
he Myanmar’s Parliament adopted a much anticipated foreign direct investment law that iscrucial to the government’s ambitious plans for economic expansion in one of Asia’s poorestcountries. The law drops several provisions in the original draft that had raised fears it could deterinvestors. The law was seen as one of Parliament’s most urgent tasks and was passed on the last day of its current session. Oneproposal dropped from the law  would have required a $5 millionminimum initial investmentoutlay. The final version alsoallows foreign parties to hold a50 per cent stake in joint ventures rather than limitingthem to a proposed 49 per cent.Elected President Thein Seinlaunched economic and politicalreforms when he took office last year after almost five decades of military rule, foreign sanctionsand restrictive laws that kept the economy stagnant. Myanmar has an inefficient agricultural sectorand small industrial base, and most of its export earnings come from extractive industries,especially natural gas. Western nations, earlier this year, eased economic sanctions institutedagainst the former military regime, lifting another barrier to foreign investment. Reforms to thefinancial system, especially the jettisoning of an onerous dual exchange rate system, were also madeto encourage investors. Another progressive aspect of the new law allows foreign investors to leaseland for an initial period of 50 years with an option to renew, compared to 35 years under old rules.
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he long-pending visa agreement to ease travel was inked between India andPakistan, in Islamabad on 8 September
. The agreement was signed by External AffairsMinister S.M. Krishna and Interior Minister Rehman Malik after the conclusion of the ForeignMinister-level engagement at the end of the second round of the resumed dialogue process. The new  visa regime the first major overhaul since 1974 in particular eases travel restrictions for businessmen and introduces a new category of group tourism. Besides, persons aged above 65 will be issued visa on arrival. The regime alsomandates a time frame for issuing visas.From the earlier indefinite time taken toissue a visa, the two missions have now  been tied down to a 45-day period fordeciding on an application. Anothersignificant decision taken by the ForeignMinisters pertained to the cross-Line of Control (LoC) confidence-building measures (CBMs). Thecross-LoC travel will be expanded to include visits for tourism and pilgrimage. Such visits todesignated sites will initially be from the Chakoti-Uri and Rawalakot-Poonch crossing points.Bothsides also agreed to extend assistance to valid entry permit-holders to cross the LoC in emergency situations on crossing as well as non-crossing days.he U.S State Department has finally designated the fearsome Haqqani Network terror outfit in Afghanistan a Foreign Terrorist Organisation. In a rare instance of overwhelming andunanimous support in Congress leading to mounting pressure on the Obama White House to pinthe FTO blacklist-label on the Haqqani group,Secretary of State Hillary Clinton was given 30 daysin early August to finalise her decision on thedesignation question. The network is said to have been behind string of deadly attacks in Kabul andelsewhere, most prominently including a bombingof the Indian embassy and an assault on the U.S.

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