09th June, 2021 – Daily News

Topics covered – ‘I-Familia’, UN Economic and Social Council, G7 Finance Ministers and Central Bank Governors, world’s first carbon-neutral cement plant, CEO of HSBC Bank India.

Bulletins

  1. Interpol has launched a new global database named ‘I-Familia’ to identify missing persons or unidentified human remains around the world through DNA of relatives.
  2. India has been elected to the UN Economic and Social Council for the 2022-24 term, in the Asia-Pacific category.
  3. G7 Finance Ministers and Central Bank Governors, chaired by Chancellor Rishi Sunak, have agreed to implement corporate tax of at least 15% on giant multinational companies.
  4. Heidelberg Cement (HQ- Heidelberg, Germany) has announced to upgrade its facility in Slite on the Swedish island of Gotland to become the world’s first carbon-neutral cement plant by 2030.
  5. Hitendra Dave has been appointed as the CEO of HSBC Bank India.

Table of Content

International News

  1. Interpol has launched a new global database named ‘I-Familia’ to identify missing persons or unidentified human remains around the world through DNA of relatives.
      • I-Familia is the first of its kind global database that automatically identifies DNA without requiring knowledge of the missing person’s genetic ancestry.
      • I-Familia has three components:
          • a dedicated global database to host the DNA profiles provided by relatives, held separately from any criminal data;
          • DNA matching software called Bonaparte, developed by Dutch company Smart Research; and
          • interpretation guidelines developed by Interpol.

    About Interpol:

      • Interpol HQ – Lyon, France
      • Members – 194 member countries
      • Secretary General – Jürgen Stock of Germany
I-Familia
  1. India has been elected to the UN Economic and Social Council for the 2022-24 term, in the Asia-Pacific category.
      • The UN Economic and Social Council (ECOSOC) has 54 members.
      • Along with India, Afghanistan, Kazakhstan and Oman were also selected in the Asia-Pacific States category.
      • 17 other countries were also selected along with India.
      • The UN Charter established ECOSOC in 1945 as one of the six main organs of the United Nations.
      • Seats on the Council are allotted based on geographical representation with 14 allocated to African states, 11 to Asian states, 6 to eastern European states, 10 to Latin American and Caribbean states and 13 to western European and other states.
  2. G7 Finance Ministers and Central Bank Governors, chaired by Chancellor Rishi Sunak, have agreed to implement corporate tax of at least 15% on giant multinational companies.
      • The agreement by finance ministers of US, UK, Germany, France, Canada, Italy and Japan charge levies on multinationals in countries where they operate, instead of just where they are headquartered.
      • Under the new agreement, countries where big firms operate would get the right to tax at least 20% of profits exceeding a 10% margin which would apply to the largest and most profitable multinational enterprises.
      • Impact on India – India is likely to benefit from the global minimum 15% corporate tax rate pact signed by G7 countries because the effective domestic tax rate is above the threshold. So, this will help India to attract more investment. After the implementation of this tax pact, investment will become cheaper in comparison to the present tax regime.
      • Implementation period – full implementation could take years. Key details still need to be deliberated upon, more nations must sign on.
      • This pact will be presented in the G20 finance ministers’ meeting in Venice, Italy.
  3. Heidelberg Cement (HQ- Heidelberg, Germany) has announced to upgrade its facility in Slite on the Swedish island of Gotland to become the world’s first carbon-neutral cement plant by 2030.

Appointments

  1. Hitendra Dave has been appointed as the CEO of HSBC Bank India.
      • Global CEO of HSBC – Noel Quinn
      • HSBC HQ – London, United Kingdom
      • HSBC India HQ – Mumbai
      • Tagline of HSBC – ‘Together We Thrive’
Hitendra Dave

Start Quiz of 09th June 2021

Q.1) Which company has created the DNA matching software in Interpol’s ‘I-Familia’ global database?
 Q.2) Which of the following countries has been elected to the UN Economic and Social Council for the 2022-24 term, in the Asia-Pacific category, along with India?
Q.3) As per the new tax pact agreed by G7 for taxing multinational companies, the minimum corporate tax threshold should be at least __ per cent?
 Q.4) Which company has announced to develop world’s first carbon-neutral cement plant?
 Q.5) Who has been appointed as the CEO of HSBC Bank India?
CEO of Anujjindal.in


About Anuj Jindal

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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 4 years of experience in the field of Education.

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