VIZAG GAS LEAK

VIZAG GAS LEAK; PANEL GIVEN TIME TILL JUNE 30

Andhra Pradesh government has extended the time for submission of a report by the high –power committee, probing the styrene monomer vapour leak at the LG Polymer unit here, till June 30

Committee was constituted to probe the May 7 incident, in which 12 people were killed and many others were hospitalised

Styrene is an organic compound with the chemical formula C₆H₅CH=CH₂

 

In 1839, the German apothecary Eduard Simon isolated a volatile liquid from the resin (storax or styrax) of the American sweetgum tree (Liquidambar styraciflua). He called the liquid "styrol" (now styrene)

Styrene occurs naturally in small quantities in some plants and foods and is also found in coal tar

Majority of styrene is produced from ethylbenzene, and almost all ethylbenzene produced worldwide is intended for styrene production

Ethylbenzene is produced via a Friedel–Crafts reaction between benzene and ethylene; originally this used aluminum chloride as a catalyst, but in modern production this has been replaced by zeolites

Benzene is a colorless oily liquid, although aged samples can appear yellowish

The compound evaporates easily and has a sweet smell, although high concentrations have a less pleasant odor

Styrene is the precursor to polystyrene and several copolymers 

Styrene can be produced from toluene and methanol

 

Styrene is also co-produced commercially in a process known as POSM (Lyondell Chemical Company) or SM/PO (Shell) for styrene monomer / propylene oxide

According to several sources, Styrene is regarded as a known carcinogen, especially in case of eye contact, but also in case of skin contact, of ingestion and of inhalation.

PAKISTAN TO REMAIN ON FATF ‘GREYLIST’

PAKISTAN TO REMAIN ON FATF ‘GREYLIST’

Pakistan received another extension on the “greylist”

Financial Action Task Force (FATF) plenary session decided to continue to keep all countries that were on the list under scrutiny for Terror Financing and Money Laundering until October 2020

 

Pakistan allowed groups targeting Afghanistan as well as groups targeting India to operate from its territory

Financial Action Task Force (on Money Laundering) (FATF): An intergovernmental organization

 

FATF Secretariat is located at the OECD headquarters in Paris

 

FATF was formed by the 1989 G7 Summit in Paris

 

FATF's Forty Recommendations on money laundering of 1990 are the primary policies issued by FATF and the Nine Special Recommendations (SR) on Terrorism Financing (TF)

By 1996 the Recommendations had to be updated to include more than just drug-money laundering, as well as to keep up with changing techniques 

Since 2000, FATF has maintained the FATF blacklist (formally called the "Call for action") and the FATF greylist (formally called the "Other monitored jurisdictions")

October 2001 the FATF issued the original eight Special Recommendations on Terrorism Financing, following the September 11 terrorist attacks in the United States. Among the measures, "Special Recommendation VIII" (SR VIII) specifically targeted nonprofit organizations 

In 2003 the Recommendations, as well as the 9 Special Recommendations were adjusted for the second time. The Recommendations, and Special Recommendations were advocated by over 180 countries 

FATF completely revised the Forty Recommendations in 1996 and 2003

In February 2012, the FATF codified its recommendations and Interpretive Notes into one document that maintains SR VIII (renamed “Recommendation 8”), and also includes new rules on weapons of mass destruction, corruption and wire transfers (“Recommendation 16”)

Objectives: To set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system 

FATF monitors progress in implementing its Recommendations through "peer reviews" ("mutual evaluations") of member countries 

Countries are subjected to evaluation by FATF to see that they are upholding laws and regulations enforced by FATF 

At the time of its formation, FATF had 16 members

As of 2019 FATF had 39 full members, comprising 37 member (Argentina,  Australia, Austria,  Belgium,  Brazil,  Canada,  China,  Denmark,  Finland,  France,  Germany,  Greece,  Hong Kong, China (originally joined under the designation  Hong Kong in 1991)  Iceland,  India,  Ireland,  Israel,  Italy,  Japan,  Luxembourg,  Malaysia,  Mexico,  Netherlands,  New Zealand,  Norway,  Portugal,  Russian. Federation.  Saudi Arabia,  Singapore,   South Africa,  South Korea,  Spain,  Sweden,   Switzerland,   Turkey,   United Kingdom,  United States) jurisdictions and two regional organisations (European Commission, Gulf Cooperation Council)

Members of the FATF regional bodies that are not full FATF members are entitled to attend FATF meetings 

30 countries and international organisations are observer organisations.

WITH SPACE REFORMS, PRIVATE SECTOR TO GET LEVEL PLAYING FIELD

WITH SPACE REFORMS, PRIVATE SECTOR TO GET LEVEL PLAYING FIELD

Union Cabinet approved the creation of the Indian National Space Promotion and Authorization Centre (IN-SPACe) to provide a level playing field for private companies to use Indian space infrastructure

Giving a boost to private sector participation in the entire range of space activities

‘New Space India Limited (NSIL)’ would endeavour to reorient space activities from a “supply driven” model to a “demand driven” one, thereby ensuring optimum utilisation of the nation’s space assets

New Space India Limited (NSIL) is a Central Public Sector Enterprise of Government of India.

Established on 6 March 2019 under the administrative control of Department of Space (DOS), India

Objectives- Transfer of Small Satellite technology to industry: NSIL will obtain license from DOS/ISRO and sub-license the same to Industry, Manufacture of Small Satellite Launch Vehicle (SSLV) in collaboration with Private Sector, Production of Polar Satellite Launch Vehicle (PSLV) through Indian Industry, Production and marketing of Space based products and services, including launch and application, Transfer of technology developed by ISRO Centres and constituent units of DOS, Marketing of spin-off technologies and products/services, both in India and abroad.