OPEC agrees to cut oil production
Moving to prop up prices, OPEC and its oil-producing allies agreed on 07 Dec to cut production by 1.2 million barrels a day despite pressure from President Trump to maintain current output levels and keep prices low.
Saudi Arabia, OPEC’s de facto leader, will make the biggest cut. Russia, which is not an OPEC member but is an increasingly important factor in global oil markets, will account for much of the rest.
Members of the Organization of the Petroleum Exporting Countries are supposed to make cuts totaling 800,000 barrels a day from an October baseline, with Russia and other nonmembers cutting 400,000 barrels a day.
OPEC
The Organisation of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of 15nations, founded in 1960 in Baghdad by the first five members Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
OPEC is headquartered in Vienna, Austria.
The 15 members of OPEC accounts for an estimated 44 percent of global oil production. This it gives OPEC a major influence over the oil prices in the world.
Shubhankar Sharma: Youngest Indian to clinch Asian Tour Order of Merit
Shubhankar Sharma became the youngest Indian to clinch the Asian Tour Order of Merit on 8th of December 2018.
The Chandigarh-based Shubhankar Sharma also become the fifth and youngest Indian to top the Asian Tour money list in a particular season.
He joins Indian golfing legends like Jyoti Randhawa (2002), Arjun Atwal (2003), Jeev Milkha Singh (2006 and 2008) and Anirban Lahiri (2015).
None of the previous Indian winners of the Asian Tour Order of Merit were below 30 when they reached the top, while Sharma is just 22.
Sharma is due to make his final start of 2018 at the BNI Indonesia Masters next week in Jakarta, where he will also be officially crowned as Asian Tour’s No. 1.
Canada report on ‘toxic’ talc worries India
A risk assessment draft on talc published by Health Canada, the country’s public health department, states that talcum powder is harmful to the lungs when inhaled during breathing and could possibly cause ovarian cancer when used by women in the genital area.
The draft, which was opened for public comments on Saturday, would be confirmed in a final assessment that would entail Canada adding talc to a list of toxic substances if the proposed conclusions are confirmed at the end of a 60-day feedback period.
Why it is a concern for India?
In India, talcum powder is among the most widely known talc-based self-care products. From fighting perspiration and odour, to helping lend the user a ‘fairer’ skin tone, a large number of Indian consumers rely on talcum powder and the market is estimated to be worth about ₹700 crore.
Breathing in products containing talc can lead to coughing, difficulty in breathing, decreased lung function, scarring of the lung tissue,” Health Canada states in the draft assessment. “These effects may get worse over time. Using products containing talc in the genital area may cause ovarian cancer”, the health authority says.
The draft cites research on talc by organisations including the International Agency for Research on Cancer (IARC), the Danish Environmental Protection Agency and the World Health Organization (WHO).
Johnson & Johnson Case
In July, a U.S. court ordered pharmaceutical giant Johnson & Johnson to pay $4.7 billion to 22 women who claimed that they had suffered from cancer as a result of using J&J’s talcum powder. The company is contesting that verdict.
Canada report on ‘toxic’ talc worries India
A risk assessment draft on talc published by Health Canada, the country’s public health department, states that talcum powder is harmful to the lungs when inhaled during breathing and could possibly cause ovarian cancer when used by women in the genital area.
The draft, which was opened for public comments on Saturday, would be confirmed in a final assessment that would entail Canada adding talc to a list of toxic substances if the proposed conclusions are confirmed at the end of a 60-day feedback period.
Why it is a concern for India?
In India, talcum powder is among the most widely known talc-based self-care products. From fighting perspiration and odour, to helping lend the user a ‘fairer’ skin tone, a large number of Indian consumers rely on talcum powder and the market is estimated to be worth about ₹700 crore.
Breathing in products containing talc can lead to coughing, difficulty in breathing, decreased lung function, scarring of the lung tissue,” Health Canada states in the draft assessment. “These effects may get worse over time. Using products containing talc in the genital area may cause ovarian cancer”, the health authority says.
The draft cites research on talc by organisations including the International Agency for Research on Cancer (IARC), the Danish Environmental Protection Agency and the World Health Organization (WHO).
Johnson & Johnson Case
In July, a U.S. court ordered pharmaceutical giant Johnson & Johnson to pay $4.7 billion to 22 women who claimed that they had suffered from cancer as a result of using J&J’s talcum powder. The company is contesting that verdict.
TN moves SC for full-time Chairman for Cauvery Authority
Tamil Nadu Government has filed a petition in the Supreme Court seeking a full-time Chairperson for the Cauvery Water Management Authority (CWMA).
The Authority has been formed following the final verdict of the Supreme Court. Currently, the Central Water Commission CWC chairperson is holding additional charge of the Authority as well.
What is the issue?
This comes in the wake of the CWC granting permission to Karnataka to proceed with the Detailed Project Report (DPR) for the 66 TMC Mekedatu reservoir project across river Cauvery, upstream of Mettur dam in Tamil Nadu. Opposing the project as being detrimental to the interests of farmers in the delta region, the Tamil Nadu Assembly has passed a unanimous resolution, demanding the withdrawal of permission given to Karnataka.
Tamil Nadu has cited the apex court verdict in the Cauvery dispute which states that Karnataka could not impound water by constructing any dam without the consent of lower riparian state.
34th SAARC Charter Day observed on 8 December
34th SAARC Charter Day 2018 in India was celebrated on the 8th of December.
The leaders of SAARC nations, the high commissioners, ambassadors from the SAARC member countries, representatives of the SAARC bodies commemorated the day by reiterating the aims and goals of the SAARC Charter.
On the SAARC Charter Day, a big celebration event is held by all the members in order to raise the public awareness about the government’s commitment to the SAARC process.
Background
on 8th of December in 1985, the leader of the Seven South Asian Countries (means Maldives, India, Bhutan, Pakistan, Nepal, Bangladeshi and Sri Lanka) had signed the contract (means charter) in order to set up the South Asian Association for Regional Cooperation (SAARC).
SAARC was joined by the Afghanistan as a Member during the 14th meeting of SAARC in Delhi in the month of April, 2007.
The SAARC secretariat was launched in the meeting at Kathmandu on 16th of January in the year 1987 in order to deeply manage as well as monitor the implementation of all the activities of SAARC activities.
Mexico's Vanessa Ponce de Leon wins Miss World 2018
The winner of Miss World 2018 is Miss Mexico Vanessa Ponce De Leon.
Manushi Chhillar who was Miss World 2017, crowned her successor.
118 contestants from all around the world participated in the pageant and Miss Mexico Vanessa Ponce De Leon came out the winner from all of them.
It was held in Sanya City Arena in China.
It is the eighth time the Miss World final has been held in Sanya, which first hosted the pageant in 2003.
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