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arihant current affairs magazine Published this article page no 12 Proneness to cyclones India has a coastline of 7516 km of which 5700 km are prone to cyclones of various degrees. o About 8% of the Countrys area and onethird of its population live in 13 coastal states and UTs who are thus vulnerable to cyclone related disasters. Loss due to cyclones Loss of lives livelihood opportunities damage to public and private property and severe damage to infrastructure are the resultant consequences which can disrupt the process of development. Climate change Climate change and the resultant sealevel rise is also likely to exacerbate the seriousness of this problem in the coming decades. Cyclone Management in India Institutional Framework in India o National Disaster Management Authority (NDMA) It is apex body for disaster management headed by the Prime Minister. It has responsibility of formulating National Guidelines for Management of Cyclones. o India Metereological Department (IMD) It is the nodal agency for providing cyclone warning services and communicate cyclone warnings from IMD to communities and important officials in affected areas. National Guidelines for the Management of Cyclones These guidelines have been evolved due to paradigm shift from earlier rescue and relief centric approach to holistic approach. They demarcate structural and nonstructural measures for cyclone management. o Non – Structural Measures Early Warning Systems It consists of Automatic Weather Stations Doppler radars High Wind Speed Recorders Ocean buoys Unmanned Aerial Vehicles etc. They provide critical information for tracking and forecasting intensity of cyclones arihant current affairs magazine buy.

arihant current affairs magazine

arihant current affairs magazine Published this article page no 11 They are violent storms that originate over oceans in tropical areas and move over to coastal areas bringing about large scale destruction caused by violent winds very heavy rainfall and storm surges. o They are low pressure weather systems in which winds equal or exceed speeds of 62kmph. o Winds circulate around in anticlockwise direction in the Northern Hemisphere and in clockwise direction in the Southern Hemisphere. Tropical cyclones striking India generally originate in the eastern side of India. o Bay of Bengal is more prone to cyclone than Arabian Sea because it gets high sea surface temperature low vertical shear winds and has enough moisture in middle layers of its atmosphere. o The frequency of cyclones in this region is bimodal i.e. Cyclones occur in the months of May–June and October–November. Conditions for Cyclone Formation (Cyclogenesis) A warm sea surface (temperature in excess of 26o –27o C) and associated warming extending up to a depth of 60m with abundant water vapour. High relative humidity in the atmosphere up to a height of about 5000 metres. Atmospheric instability that encourages the formation of cumulus clouds. Low vertical wind between the lower and higher levels of the atmosphere that do not allow the heat generated and released by the clouds to get transported from the area. The presence of cyclonic vorticity (rate of rotation of air) that initiates and favours rotation of the air cyclonically. Location over the ocean at least 4–5 o latitude away from the equator. 52 Need for Cyclone Management in India arihant current affairs magazine buy.

knowledge questions magazine

knowledge questions magazine

knowledge questions magazine Published this article page no 04 Investing in DRR – NonStructural Measures o Formulate strengthen rules norms and laws such as factories rules consistent with that of ensuring greater safety in hazardous industries and to reduce likelihood of disasters. o Review land use norms for the siting of hazardous industries to ensure greater safety and to ensure buffer zones without human settlements in close proximity of hazardous industries o Empower factory inspectorates to take legal actions for noncompliance of Manufacture Storage and Import of Hazardous Chemicals (MSIHC) Rules. o Review rules to grant compensation to chemical accident victims to improve them in favour of victims. Further in order to avoid repetition of Vizag gas leak recently the National Disaster Management Authority (NDMA) has issued guidelines for restarting manufacturing industries after COVID lockdown. Guidelines relate to storage of raw materials manufacturing processes storage and guidelines for workers. It also calls for inspection of all equipment as per the safety protocol. Such directives must be strictly adhered to all the times and government must take strict action against the defaulters. STATE OF THE WORLDS FORESTS REPORT 2020 Why in news? Recently United Nations Environment Programme (UNEP) and Food and Agriculture Organization (FAO) has jointly released a report titled The State of the Worlds Forests (SOFO) 2020. NDMA Guideline on Chemical Disasters (Industrial) 2007 These guidelines call for a proactive participatory multidisciplinary and multisectoral approach at various levels for chemical disaster preparedness and response. The guidelines have been prepared to provide the directions to ministries departments and state authorities for the preparation of their detailed disaster management plans knowledge questions magazine buy.

knowledge questions magazine

Monday, June 27, 2022

shine india monthly magazine

shine india monthly magazine Published this article page no 12 On social media Russian shoppers are noting early price increases for some products particularly electronics and appliances. Many people in Russia who work for foreign companies have been anxious about being able to receive pay as the first batch of key Russian banks has been booted from the interbank SWIFT system to target oil and gas profits. International artists and cultural organizations have also imposed their own restrictions. Impact on oil prices Russia is not only the worlds third biggest oil (after the US and Saudi Arabia) and the second biggest natural gas (after the US) producer besides the No. 3 coal exporter (behind Australia and Indonesia). It is also the second largest exporter of wheat. What is AIIB? Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. The Parties (57 founding members) to agreement comprise the Membership of the Bank. It is headquartered in Beijing. The bank started operation after the agreement entered into force on 25 December 2015 after ratifications were received from 10 member states holding a total number of 50% of the initial subscriptions of the Authorized Capital Stock. Aim By investing in sustainable infrastructure and other productive sectors today it aims to connect people services and markets that over time will impact the lives of billions and build a better future. Membership There are more than 100 members now. Voting Rights China is the largest shareholder with 26.61 % voting shares in the bank followed by India (7.6%) Russia (6.01%) and Germany (4.2 %). The regional members hold 75% of the total voting power in the Bank. Various organs of AIIB Board of Governors The Board of Governors consists of one Governor and one Alternate Governor appointed by each member country. Governors and Alternate Governors serve at the pleasure of the appointing member. Board of Directors Nonresident Board of Directors is responsible for the direction of the Banks general operations exercising all powers delegated to it by the Board of Governors. International Advisory Panel The Bank has established an International Advisory Panel (IAP) to support the President and Senior Management on the Banks strategies and policies as well as on general operational issues. Insta Curious Did you know that Former Reserve Bank of India (RBI) governor Urjit Patel is currently the vicepresident of the Asian Infrastructure Investment Bank (AIIB) shine india monthly magazine buy.

shine india monthly magazine

shine india monthly magazine Published this article page no 11 Asian Infrastructure Investment Bank (AIIB) has put all activities relating to Russia and Belarus on hold and under review in the wake of the current conflict in Ukraine. The AIIB referred to the situation as war in Ukraine the closest to invasion that any Chinese governmentaffiliated institution has until now described the situation in the east European country. Impact of such sanctions After years of life in a growing globally connected economy Russians find themselves in a country increasingly unplugged from the world. Following President Vladimir Putins invasion of Ukraine a sweeping wave of sanctions by the European Union and the U.S. has combined with an exodus of foreign companies and investors leaving Russia more isolated and economically restricted. For several days long lines formed near ATMs around Russia as people rushed to withdraw cash — both foreign currency and rubles — amid fears of a breakdown in electronic banking. The value of the ruble has plummeted to a record low less than 1 cent as many people watched their savings erode. The Kremlin has banned all Russians from transferring foreign currency abroad and ordered exporters to exchange 80% of their foreign currency proceeds for rubles shine india monthly magazine buy.

pratiyogita kiran

pratiyogita kiran

pratiyogita kiran Published this article page no 05 The Scarborough Shoal is claimed by the Philippines China and Taiwan. Since 2010 China has been converting uninhabited islets into artificial islets to bring it under UNCLOS (For example Haven Reef Johnson South Reef and Fiery Cross Reef). 2016 ruling The international tribunal in The Hague in 2016 ruled that the said Line had no legal basis. 103 However after refusing to accept the ruling China continued with its activities including the creation of artificial islands. Insta Curious Do you know the meaning of the phrase The Seven Seas? Read Here Have you given a thought about how seas are names and their associated problems Turkey is set to implement the Montreux Convention an international convention on naval passage through two of its strategic straits which would allow them to limit the movement of Russian warships between the Mediterranean Sea and the Black Sea. On what grounds can such limitations be announced? In the event of a war the pact gives Ankara the right to regulate the transit of naval warships and to block the straits to warships belonging to the countries involved in the conflict. Turkeys foreign minister said that the situation in Ukraine had become a war. This declaration authorises Ankara to activate the Montreux Convention and ban Russian war vessels from entering the Black Sea through the Bosporus and Dardanelles straits. Significance of the move and its implications on Russia The Bosporus and Dardanelles straits also known as the Turkish Straits or the Black Sea Straits connect the Aegean Sea and the Black Sea via the Sea of Marmara. It is the only passage through which the Black Sea ports can access the Mediterranean and beyond pratiyogita kiran buy.

pratiyogita kiran

Friday, June 24, 2022

shine india subscription

shine india subscription Published this article page no 26 The highway will be called Char Dham Mahamarg(Char Dham Highway) and the highway construction project will be called Char Dham Mahamarg Vikas Pariyojana(Char Dham Highway Development Project). What Are The Environmental Concerns That Were Flagged? 1. Largescale construction works in hilly terrain is a recipe for disaster as it leads to a heightened risk of landslides given the felling of trees and loosening of rocks. 2. The project was being executed bypassing mandatory environment clearances and environment impact assessment (EIA) procedures. 3. Over 25000 trees have reportedly been felled to make way for the project as a grave worry for the ecologically sensitive zone. 4. Since wider carriageways would require more excavation and blasting the purpose of having an allweather highway may be compromised since the topography would become that much more sensitive to slippage and landslides. Developments so far wrt the Chardham Project 1. The foundation stone for the Char Dham road project was laid by PM Narendra Modi in December 2016. 2. But the project was challenged on environmental grounds in courts with petitioners alleging irregularities visavis environmental clearances for the project and that it was being pursued in violation of existing norms. 3. The National Green Tribunal (NGT) cleared the project in September 2018 but its order was challenged for being passed by a bench different from the one that had heard the matter. Supreme Court stayed the NGT order in October 2018. 4. In September 2020 it passed an order on a writ petition stating that highways for the Char Dham project should not exceed 5.5m in width as prescribed in a 2018 circular of the Union Road Transport Ministry. But the Defence Ministry had in December that year sought a modification in the order to allow the width to be of 10m. 5. The top court then asked its highpowered committee (HPC) to look into the contentions raised by the Centre on the width of the highways shine india subscription buy.

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shine india subscription Published this article page no 25 The Supreme Court has urged its former Justice AK Sikri to take over as the Chairman of the highpowered committee constituted by it to consider the cumulative and independent impact of the Char Dham Mahamarg Vikas Pariyojana (Char Dham Highway Development Project) on the entire Himalayan valley. Whats the issue? In February 2022 Veteran environmentalist Ravi Chopra has resigned as chairman of the Supreme Courts High Powered Committee (HPC) on the Char Dham project saying that his belief that the HPC could protect this fragile (Himalayan) ecology has been shattered.In his resignation letter to the secretary general of the Supreme Court on January 27 Chopra referred to the apex courts December 2021 order that accepted the wider road configuration to meet defence needs instead of what the HPC had recommended and the SC accepted in its earlier order in September 2020. 6 What has the Court said so far in this matter?In 2018 the project was challenged by an NGO for its potential impact on the Himalayan ecology due to felling trees cutting hills and dumping excavated material.In 2019 the SC formed the HPC Chopra to examine the issues and in September 2020 accepted his recommendation on road width etc.In November 2020 the ministry of Defence sought wider roads to meet the requirement of the Army.In December 2021 the SC modified its September 2020 order on the ground that the court could not interrogate the policy choice of the establishment which is entrusted by law with the defence of the nation. About Chardham projectThe project involves developing and widening nearly 900 km of national highways connecting the holy Hindu pilgrimage sites of Badrinath Kedarnath Gangotri and Yamunotri at an estimated cost of Rs.12000 crores shine india subscription buy.

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banking service chronicle

banking service chronicle

banking service chronicle Published this article page no 09 It comprises 18 members Australia Cook Islands Federated States of Micronesia Fiji French Polynesia Kiribati Nauru New Caledonia New Zealand Niue Palau Papua New Guinea Republic of Marshall Islands Samoa Solomon Islands Tonga Tuvalu and Vanuatu.In 2000 Forum leaders adopted the Biketawa Declaration which was a response to regional political instability and which put forward a set of principles and actions for members to take to promote open democratic and clean government as well as equal rights for citizens regardless of gender race colour creed or political belief. 34. One Ocean SummitOne Ocean Summit was recently organised by France in Brest France in cooperation with the United Nations and the World Bank.India also participated in the event.The goal of the One Ocean Summit is to raise the collective level of ambition of the international community on marine issues. United Nations has designated the decade between 2021 and 2030 as the Decade of Ocean Science for Sustainable Development in a bid to restore declining marine life and raise awareness. 156 35. Medaram Jathara 2022 The Ministry of Tribal Affairs has sanctioned 2.26 Crores for various activities pertaining to Medaram Jathara 2022.Medaram Jatara is the secondlargest fair of India after the Kumbh Mela celebrated by the secondlargest Tribal Community of Telangana the Koya tribe for four days.Considering the footfall of the festival and its auspicious significance the Jathara was declared a State Festival in 1996.The Jatara is also known as Sammakka Saralamma Jatara banking service chronicle buy.

banking service chronicle

Wednesday, June 22, 2022

meri saheli magazine online

meri saheli magazine online

meri saheli magazine online Published this article page no 23 Scientists have unravelled the science behind the jets of plasma the fourth state of matter consisting of electrically charged particles that occur just about everywhere in the suns chromosphere which is the atmospheric layer just above the Suns visible surface. What are the jets of plasma? The jets or spicules appear as thin grasslike plasma structures that constantly shoot up from the surface and are then brought down by gravity. 144 The amount of energy and momentum that these spicules can carry is of fundamental interest in solar and plasma astrophysics. How they are formed? What are the recent findings? Astronomers at the Indian Institute of Astrophysics conducted an experiment to understand the science behind this. They found that the physics underlying paint jets when excited on a speaker is analogous to the solar plasma jets. When a liquid is placed above a speaker and the music is turned on the free surface of the liquid becomes unstable beyond a particular frequency and starts vibrating. The researchers realized that the physics underlying these paint jets must be analogous to the solar plasma jets. The scientists elaborated that the plasma right below the visible solar surface (photosphere) is perpetually in a state of convection much like boiling water in a vessel heated at the bottom. This is ultimately powered by the nuclear energy released in the hotdense core. The convection serves almost periodic but there are strong kicks to the plasma in the solar chromospheres meri saheli magazine online buy.

meri saheli magazine online

shine india monthly magazine subscription

shine india monthly magazine subscription Published this article page no 19 Polar Science and Cryosphere Research (PACER) scheme comprises the Antarctic program Indian Arctic program Southern Ocean program and Cryosphere and Climate program. It is being implemented successfully through National Centre for Polar and Ocean Research (NCPOR) an autonomous institute under the Ministry of Earth Sciences. What is the cryosphere? The cryosphere is the frozen water part of the Earth system. These are places on Earth that are so cold that water is frozen solid. These areas of snow or ice which are subject to temperatures below 0°C 32°F for at least part of the year compose the cryosphere. The term cryosphere comes from the Greek word krios which means cold. Ice and snow on land are one part of the cryosphere. This includes the largest parts of the cryosphere the continental ice sheets found in Greenland and Antarctica as well as ice caps glaciers and areas of snow and permafrost. When continental ice flows out from land and to the sea surface we get shelf ice. The other part of the cryosphere is ice that is found in water. This includes frozen parts of the ocean such as waters surrounding Antarctica and the Arctic. It also includes frozen rivers and lakes which mainly occur in polar areas. Significance of Cryosphere The components of the cryosphere play an important role in the Earths climate. Snow and ice reflect heat from the sun helping to regulate our planets temperature. Because polar regions are some of the most sensitive to climate shifts the cryosphere may be one of the first places where scientists are able to identify global changes in climate. PACER encompasses the following six components. 1. Construction of polar research vessel 2. Construction of the third research base in Antarctica 3. Indian scientific endeavours in the Arctic 4. Polar expeditionsAntarctica 5. Replacement of Maitri station 6. Southern Ocean Objective of PACER scheme To improve our understanding of Polar Science and cryosphere system. Major achievements of the PACER scheme in the recent three years 1. Executed 39th & 40th Indian Scientific Expedition to Antarctica shine india monthly magazine subscription buy.

shine india monthly magazine subscription

Monday, June 20, 2022

engineering success review

engineering success review Published this article page no 92 3. Appointment and removal of Chief Minister Context Pushkar Singh Dhami recently took took oath as the 12th chief minister of Uttarakhand. Since according to the constitution the chief minister is appointed by the governor the swearing in is done before the governor of the state. Appointment of CM The Chief Minister is appointed by the governor. Art. 164 of the Constitution provides that there shall be a Council of Ministers with the Chief Minister at its hand to aid and advise the governor. Who can be a Chief Minister? After general election to the State Legislative Assembly the party or coalition group which secures majority in this House elects its leader and communicates his name to the Governor. The Governor then formally appoints him as the Chief Minister and asks him to form his Council of Ministers. When no party gets a clear majority in the State Legislative Assembly the Governor normally asks the leader of the single largest party to form the government. Tenure Theoretically the Chief Minister holds office during the pleasure of the Governor. However in actual practice the Chief Minister remains in office so long as he continues to be the leader of the majority in the State Legislative Assembly. The Governor can dismiss him in case he loses his majority support. The State Legislative Assembly can also remove him by passing a vote of noconfidence against him.45Powers and Functions of the Chief Minister To Aid and Advice the Governor. The Chief Minister is at the Head of the Council of Ministers. He is the Leader of the House. He has to communicate to the Governor all the decisions of the council of ministers relating to the administration of the states. All the policies are announced by him on the floor of the house. He recommends dissolution of legislative assembly to the Governor. He advises the Governor regarding summoning proroguing the sessions of State Legislative Assembly from time to time. Insta Curious Did you know that Section 11 of the Representation of the People Act 1951 allows the Election Commission to reduce or remove disqualification for reasons to be recorded engineering success review buy.

engineering success review

engineering success review Published this article page no 91 The 25 high courts in the states have 81 women among 677 judges five of them do not have a single female judge.44Benefits of diversity and gender representation in Supreme court 1. Increased Transparency inclusiveness and representation. 2. By their mere presence women judges enhance the legitimacy of courts sending a powerful signal that they are open and accessible to those who seek recourse to justice. 3. By elucidating how laws and rulings can be based on gender stereotypes or how they might have a different impact on women and men a gender perspective enhances the fairness of the adjudication. 4. Women judges bring those lived experiences to their judicial actions experiences that tend toward a more comprehensive and empathetic perspective. 5. Improving the representation of women could go a long way towards a more balanced and empathetic approach in cases involving sexual violence. Challenges to womens entry into judiciary The eligibility criteria to take the entrance exams Lawyers need to have seven years of continuous legal practice and be in the age bracket of 3545. This is a disadvantage for women as many are married by this age. Further the long and inflexible work hours in law combined with familial responsibilities force many women to drop out of practice and they fail to meet the requirement of continuous practice. Insta Curious Did you know that the Supreme Court currently has the highest number of women judges ever in its history? Reference read this. InstaLinks Prelims Link 1. What is collegium? 2. How are Judges of Supreme Court and high courts appointed? 3. Appointment of retired judges. 4. Related constitutional provisions. 5. Powers and functions. Mains Link Discuss the issues associated with collegium system for the appointment of judges engineering success review buy.

world focus magazine

world focus magazine

world focus magazine Published this article page no 83 The aggravating circumstances included the manner in which the crime was committed motive for committing the crime severity of the crime and the victim of the crime. The mitigating circumstances consisted of the possibility of reformation and rehabilitation of an accused his mental health and his antecedents. What has the Court said on prolonging death sentences and review petitions? In 2014 the Supreme Court ruled that unexplained delay in execution was a ground for commutation of death penalty and an inmate his or her kin or even a publicspirited citizen could file a writ petition seeking such commutation. It held that prolonging execution of death sentence has a dehumanising effect on condemned prisoners who have to face the agony of waiting for years under the shadow of death during the pendency of their mercy plea. An inordinate delay would certainly have an agonising effects on their body and mind. In the same year a Constitution bench also held that a review petition by a deathrow convict will be heard by a threejudge bench in open court. Such cases were earlier being considered by twojudge benches in the judges chamber without any oral arguments. Challenges ahead The enormity of the task before the Supreme Court is captured by the fact that trial courts in India have already sentenced more than 50 people to death in 2022 and often in violation of procedural and substantive laws. It is not going to be easy for the Supreme Court to bring about a balance of fairness and consistency in death penalty sentencing across courts in India but the fact that the court has chosen to address it headon is certainly noteworthy and worthy of our appreciation. Insta Curious Project 39A is a criminal justice research and legal aid program at National Law University Delhi that has worked extensively in death penalty cases. InstaLinks Prelims Link 1. Various benches of the Supreme Court. 2. Law commission composition objectives and functions. 3. Appeals against capital punishment. 4. Presidents pardoning powers. 5. Relevant Supreme Court judgements. What is Collective conscience? How does it influence the judgments of courts? Discuss 2. Criminal justice reforms Context Aiming to make comprehensive changes in criminal laws the government has initiated the process of amendment to laws such as Indian Penal Code the Code of Criminal Procedure and the Indian Evidence Act in consultation with all stakeholders. Suggestions invited The Ministry of Home Affairs has sought suggestions from Governors Chief Ministers Lieutenant Governors and Administrators of Union Territories Chief Justice of India Chief Justices of various High Courts Bar Council37of India Bar Council of various States various universities law institutes and all MPs regarding comprehensive amendments in criminal laws world focus magazine buy.

world focus magazine

Thursday, June 16, 2022

competition success review

competition success review Published this article page no 129 WORLD BANK DISCONTINUE EASE OF DOING BUSINESS (EODB) Why in News? The World Bank Group has announced discontinuation of its Doing Business rankings on country business climates. About Ease of Doing Business Rankings Launched in 2002 Doing Business project provided objective measures of business regulations and their enforcement across 191 economies and selected cities at the subnational and regional level. o It looks at domestic small and mediumsize companies and measures the regulations applying to them through life cycle of a company. In EoDB index from World Bank higher rankings (lower numerical value) indicate simpler regulations for businesses and stronger protections of property rights. India moved to 63rd position (from 142nd in 2014) on Ease of Doing Business Ranking 2020. Issues with Ease of Doing Business rankings Decision to discontinue came after a review of data irregularities found in 2018 and 2020 reports. o Irregularities had affected four countries China Saudi Arabia UAE and Azerbaijan. Libertarian bias as it tends to reduce the complexity of economic activity to a few quantifiable metrics with a libertarian bias creating an incentive for countries to pursue economic policies that conform to World Banks vision of economic development. Gaming the system i.e. obsessing countries to move up in the rankings rather than pushing for longterm structural reform. One size fits all approach and based on the ideological priors of institutions and stakeholders is always likely to contain some fatal flaws. FREE TRADE AGREEMENTS (FTAS) To fasttrack free trade agreement (FTA) negotiations with several countries like the UK Australia the European Union and Canada India is keen to conclude an early harvest trade deal with some of these countries. How Early harvest scheme (EHS) is different from an FTA? Early harvest scheme is a precursor to an FTA between two trading partners. This is to help the two trading countries identify certain products for tariff liberalisation pending the conclusion of FTA negotiation. It is primarily a confidence building measure. A good example of an EHS is the one between India and Thailand which was signed in October 2003 wherein several products were identified to be reduced to zero in a phased manner competition success review buy.

competition success review

competition success review Published this article page no 130 What are FTAs and other types of trade agreements? FTAs are arrangements between two or more countries or trading blocs that primarily agree to reduce or eliminate customs tariff and nontariff barriers on substantial trade between them. FTAs normally cover trade in goods (such as agricultural or industrial products) or trade in services (such as banking construction trading etc.) but can also cover other areas such as intellectual property rights (IPRs) investment government procurement etc. Other types of trade agreements (Refer infographic) o Preferential Trade Agreement (PTA) In a PTA two or more partners agree to reduce tariffs on agreed number of tariff lines. For example India MERCOSUR PTA. o Comprehensive Economic Cooperation Agreement (CECA) and Comprehensive Economic Partnership Agreement (CEPA) These terms describe agreements which consist of an integrated package on goods services and investment along with other areas including IPR competition etc. The India Korea CEPA is one such example. o Custom Union In a Customs union partner countries may decide to trade at zero duty among themselves however they maintain common tariffs against rest of the world. An example is Southern African Customs Union (SACU). o Common Market A common market is a Customs Union with provisions to facilitate free movements of labour and capital harmonize technical standards across members etc. European Common Market is an example. o Economic Union Economic Union is a Common Market extended through further harmonization of fiscalmonetary policies and shared executive judicial & legislative institutions. European Union (EU) is an apt example of this type. KEY GLOBAL INSTITUTIONS Institution Important Information World Trade Organisation (WTO) WTO (HQ Geneva Switzerland) is the successor to the General Agreement on Tariffs and Trade (GATT) as the only global international organisation dealing with the rules of trade between nations. It was established on 1 st January 1995 after successful completion of Uruguay Round Negotiations (198694). It has 164 members (since July 2016) representing 98% of world trade with Ngozi OkonjoIweala as its current DirectorGeneral. ○ She is the first woman as well as the first African to become WTO DirectorGeneral. Goal To ensure that trade flows as smoothly predictably and freely as possible. WTO Flagship Publications World Trade Report World Trade Statistical Review. International Monetary Fund (IMF) IMF (HQ Washington DC USA) is a specialized UN Agency conceived in 1944 with 44 countries at the United Nations Bretton Woods Conference in New Hampshire USA. It monitors the economic and financial policies of its 190 member countries providing policy advice to nations for promotion of international financial stability and monetary cooperation. It also facilitates international trade sustainable economic growth employment and global poverty reduction to raise living standards. IMF Flagship Publications World Economic Outlook Global Financial Stability Report Fiscal Monitor External Sector Report. World Bank competition success review buy.