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November 09, 2019: National Current Affairs
1. PM to inaugurate Peace Corridor today (November 9)
• Kartarpur Corridor, to be inaugurated by Prime Minister Imran Khan today (November 9, 2019), has emerged as a new ray of hope for peace amid persistent Pak-India tension.
• Prime Minister Khan is all set to inaugurate Kartarpur Corridor to facilitate entry of Sikh pilgrims from India into Gurdwara Dera Sahib at Kartarpur in Narowal district of Pakistan.
• The corridor, dubbed the Peace Corridor, is being opened on the 550th birth anniversary celebrations of Guru Nanak Dev Ji beginning from November 12.
• In his message on the eve of inauguration of Kartarpur Corridor, Prime Minister Imran Khan said the inauguration of Kartarpur Corridor is the testimony of Pakistan’s commitment to regional peace. “We believe that the road to prosperity of the region and bright future of our coming generation lies in peace,” he said.
2. China to establish 19 factories in Gwadar: envoy
• Chinese Ambassador to Pakistan Yao Jing on November 8, 2019 said that his government was going to establish 19 factories in Gwadar to create job opportunities for the youth of Balochistan.
• `China seeks to contribute to the overall development of Balochistan`s mining, agriculture, fisheries and water sectors. The Chinese consulate is easing the visa procedure for the businessman community,` Yao Jing said while talking to journalists here.
• He said that 200 students from Pakistan had received scholarship in China.
• He denied speculations regarding the Chinese government`s lack of interest in development projects in Balochistan.
3. Peshawar gets patrol rider squad
• Khyber Pakhtunkhwa Chief Minister Mahmood Khan on November 8, 2019 inaugurated a patrol rider squad for the provincial capital and handed over 42 motorcycles to the police department for it.
• During a special ceremony here, the chief minister said the initiative would help protect the residents from street crimes.
• Patrol squad would respond immediately to the street crime incidents.
• `The riders will be the first responders to any street crime and will carry out snap checking and hot pursuit and check illegal activities in the city. They will also provide first aid to the victims of street crimes.
4. All targets met, says IMF as circular debt comes into focus
• A staff mission of the International Monetary Fund (IMF) on November 8, 2019 concluded its visit to Pakistan with all praise to authorities for over-performing on first quarter targets under the $6 billion Extended Fund Facility to pave the disbursement of $450 million early next month.
• The mission led by Ernesto Ramirez-Rigo, however, hinted at a couple of minor shortcomings that authorities would need to deliver before IMF executive board takes up for formal approval of the staff-level agreement. These related to power sector tariffs and effective taxation on cigarettes.
• The Fund also lowered inflation outlook for FY20 at 11.8 per cent average against its 13pc estimate only a few days ago as part of its regional economic outlook.
• That, in a sense, was an indicator towards possibility of lower discount rates in coming monetary policy by end of this month. The saving rates have already been lowered this week following decline in secondary market yields on bonds.
5. MSCI retains Pakistan in its EM index
• In line with market consensus, Pakistan maintained its weight of around three basis points in the MSCI Emerging Market index with all three constituents of the MSCI Pakistan index, namely Habib Bank Limited, Oil and Gas Exploration Company and MCB Bank retaining their place.
• The three companies posted combined market capitalisation at $2,674 million eking out MSCI weight at 0.03 per cent.
• MSCI the New York-based leading provider of research-based indexes and analytics unveiled results of its November semi-annual review for the MSCI Equity indexes including MSCI Global Standard index and MSCI Global Small Cap index on Friday, which would go into effect from Nov 26.
• In MSCI Global Standard indexes, a total of 278 securities have been added while 69 securities deleted.
6. NY judge asks Trump to pay $2m for misusing namesake charity
• A New York state judge ordered US President Donald Trump to pay $2 million for misusing his namesake charitable foundation, resulting in funds being used to advance his 2016 presidential campaign.
• Justice Saliann Scarpulla, of the state Supreme Court in Manhattan, directed the payment to eight non-profits, in connection with a lawsuit by the state`s attorney general against the president and three of his adult children over the now-dissolved Donald J. Trump Foundation.
• President Trump defended the charity in a statement on Twitter, saying the foundation was an `incredibly effective philanthropy` that had made `some small technical violations.
• A spokesman for the Trump Foundation said it was pleased the court rejected the attorney general`s request for punitive damages
7. China, Russia pose challenge to Nato, says Pompeo
• US Secretary of State Mike Pompeo issued a stark warning against China and Russia on the eve of the 30th anniversary of the fall of the Berlin Wall, urging Western allies to defend hard-won freedoms.
• Stressing that `we can never take … things for granted`, he said the 70-year-old Nato alliance too `runs the risk that it will become obsolete` if leaders f ailed to tackle new challenges.
• France`s President Emmanuel Macron had criticised Nato as suffering from `brain-death` prompting a sharp rebuke from German Chancellor Angela Merkel.
• Dismissing the debate around Macron`s comments as `kerfuffle,` Pompeo acknowledged that `Nato needs to grow and change, it needs to confront the realities of today and the challenges today.` These threats include those posed by governments like China, Russia and Iran, Pompeo said, speaking just a few metres (yards) away from where the Wall ran past the German capital`s world-famous Brandenburg Gate.
8. Iran downs unidentified drone that tried to `infiltrate` its coast
• Iran shot down an unidentified drone that `infiltrated` near Bandar-e Mahshahr port on the Gulf coast on November 8, 2019, Iranian media reported, after the downing of a US drone nearly triggered air strikes earlier this year.
• IRIB, a state broadcaster, aired a short video purporting to show the interception of the drone by an Iranian anti-missile battery.
• The six second sequence showed the luminous nighttime trail of what appeared to be a missile before an explosion at very low altitude.
• But the video was not broadcast by state TV`s Farsi channel IR INN, which largely ignored the story.
• Relevant units acted `in response to a violation of our airspace by a drone (that) infiltrated` IRIBNEWS reported, citing Brigadier General Alireza Sabahi Fard, commander in chief of aerial defence.
9. WhatsApp adds shopping catalogue feature
• Facebook Inc on November 7, 2019 launched a catalog feature for its WhatsApp messaging app, it said in a blog post, building out the service`s e-commerce tools as it moves slowly toward monetising the app it bought in 2014 for $19 billion.
• Facebook has been trying to boost revenue from higher-growth units like Instagram and Whatsapp, which has 1.5bn users. The company`s flagship News Feed product continues to draw big ad dollars, but is struggling to generate new users.
• The move comes after Facebook added a shopping feature to Instagram in March that lets users click a `checkout` option on items tagged for sale and pay for them directly within the app
10. Australia humiliate Pakistan by 10 wickets to seal T20 series
• Pakistan were left humbled and humiliated by Australia`s miserly bowling unit, which set up a comprehensive 10-wicket victory for the home side in the third Twenty20 International on November 8, 2019 and ensured a 2-0 triumph in the rain-affected series.
• Batting first after losing the toss at Perth Stadium, the tourists mustered just 106 for eight after Australia`s seamers combined for seven of the eight wickets to fall. The target posed no problems for the hosts who blasted their way to 109 in only 11.5 overs as captain Aaron Finch and David Warner ran riot.
• Finch (52 not out) and Warner (48 not out) entertained the modest Perth crowd experiencing their first T20 International in nine years with a lusty display of twilight hitting which produced five sixes and eight fours and saw Australia cruise home with 53 balls to spare.
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