Government notifies rules for issue of shares
• The Government on mandated that issue of further shares and transfer of all shares by unlisted public companies should be only through Demat Account with affect from October 2, 2018.
• This was notified by the Ministry of Corporate Affairs on September 11, 2018.
• The move would help eliminate risks associated with physical certificates such as loss, theft, mutilation and fraud.
• Additionally, this would improve the corporate governance system by increasing transparency and preventing malpractices such as benami shareholding.
ASEAN leaders agree to tap 4th Industrial Revolution
• Leaders of ASEAN (Association of Southeast Asian Nations) members gathered for the 2018 World Economic Forum on ASEAN, stressing the importance of fully tapping the Fourth Industrial Revolution for socioeconomic development.
• To tap great potential of the 4th industrial revolution and minimise its negative impact, the Cambodian Prime Minister Samdech Techo Hun Sen proposed ASEAN countries to enhance quality of education and training, sharpen skills of labourers, seek innovations, and introduce new business models.
• Indonesian President Joko Widodo said people should not be afraid of having smaller incomes or losing jobs due to automation, because the revolution will help increase productivity and efficiency.
• Lao Prime Minister Thongloun Sisoulith proposed developing the ASEAN into a region of innovation with high competitiveness, better infrastructure and narrower science and technology gaps.
BEML launches India’s first 205T electric drive rear dump truck ‘BHQOSE’
• India’s first 205T Electric Drive Rear Dump Truck (Model BH205-E), designed and developed by Bharat Earth Movers Limited (BEML), was launched recently.
• The dump truck has been developed for use in the project of Northern Coalfields Limited (NCL), Singrauli, Madhya Pradesh.
• It will also help to address the growing demand for higher capacity equipments in mining industry.
• BH205E is electric drive rear dump truck for large scale mining operations.
• It has been indigenously designed and developed by Mysuru plant of BEML to reinforce ‘Make in India’ initiative.
MEA, TCIL sign agreement for e-VBAB Network Project
• Union Ministry of External Affairs (MEA) and Telecommunications Consultants India Ltd (TCIL) signed agreement for implementation of e-VidyaBharati and e-AarogyaBharati (e-VBAB) Network Project in Africa.
• The project is seen as digital bridge of knowledge and health between India and Africa.
• It is also considered as important milestone in India’s development partnership with Africa.
• e-VBAB Network Project is technological upgrade and extension of Pan-African e-Network Project (Phase 1) which was implemented in 48 partner countries across Africa from 2009 till 2017.
• It is completely funded by the Union Government for its entire duration.
• It is open for participation to all India’s partner countries in Africa.
• The project will provide free tele-education courses to 4000 students every year from African countries.
India, Bangladesh jointly inaugurate three projects
• India, Bangladesh jointly inaugurated three projects related to power supply rehabilitation of existing railway section.
• These projects were jointly inaugurated Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina through video conference.
• These three projects are: Rehabilitation of Kulaura-Shahbazpur section of Bangladesh Railways; 500 MW additional power supply from India to Bangladesh; and Akhaura–Agartala Rail Link.
India, Mongolia joint exercise Nomadic Elephant 2018 held in Ulaanbaatar
• India, Mongolia joint exercise Nomadic Elephant 2018 commenced at Mongolian Armed Forces (MAF) Five Hills Training Area in Ulaanbaatar (capital of Mongolia).
• Nomadic Elephant is annual bilateral military exercise started in 2006. It is designed to strengthen partnership between Indian Army and Mongolian Armed Forces.
• This year, it is thirteenth edition of exercise aimed at developing mutual understanding and respect between armies of both countries and facilitate in tackling the world wide phenomenon of terrorism.
• The 12 days long joint exercise will be conducted from September 10 to 21, 2018.
• This exercise will seek to improve tactical and technical skills in joint counter insurgency and counter terrorist operations in rural and urban scenario between both countries under United Nations mandate.
Video: Check out the latest current affairs of this week