India set to become water scarce by 2025: report


Cyber surveillance to keep an eye on IS



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1.Cyber surveillance to keep an eye on IS


An application which will also help the city police to keep a 24/7 tab on hate campaign on social networking sites is being developed

Alerted by attempts of terror group Islamic State (IS) to recruit members online, the city police are unveiling plans to create their own cyber surveillance system to keep an eye on such moves.

An application that can identify online hate campaign patterns or websites that try to lure people towards terror outfits such as IS, is being developed by Hyderabad police with the help of IT experts. Using this application, policemen trained in cyber security systems would monitor online round-the-clock, looking out for hate campaign organisers or terror outfits attempting to recruit operatives using websites.

City police top brass realised that online circulation of objectionable pictures and content has potential to create law and order problems. “Circulation of some photos through social networking sites triggered communal violence in Sangareddy of Medak a few years ago. Similar incidents, though of less intensity, were reported in city as well,” said a police officer.

Some youngsters from city who were trying to cross border to join IS were caught at West Bengal and were let off after counselling. “They were lured to IS through online communication, mainly through social websites and emails,” the officer explained.

The city police had purchased high-end computers and servers along with training some policemen on the techniques of online surveillance.


2.New Development Bank of BRICS opens in Shanghai


The Brazil-Russia-India-China-South Africa (BRICS) grouping has formally opened the New Development Bank (NDB) as a dedicated channel of alternate finance, which will focus on emerging economies and the Global South.

Top officials of the new bank, which opened on Tuesday in Shanghai, stressed that the NDB would not rival but complement the western backed International Monetary Fund (IMF) and the World Bank, born out of the Bretton Woods Conference of the forties. However, the emergence of the NDB and the Asian Infrastructure Investment Bank (AIIB) — a China-led initiative to fund infrastructure in Asia — was hastened by the reluctance by the West, especially the United States, since 2010, to grant emerging economies a greater say within the IMF.

The IMF reforms “would have shifted more power to developing and emerging market economies; however, these reforms have since stalled as a result of the US Congress’ failure to ratify the implementing legislation domestically,” notes an article in the Geneva-based International Centre for Trade and Sustainable Development.

Rejecting the possibility of a rivalry between the two newly established banks, NDB’s first President Kundapur Vaman Kamath stressed that after a meeting in Beijing with the AIIB, the NDB had decided to establish a “hotline” with the AIIB to forge closer ties between “new institutions coming together with a completely different approach”.


3.‘India, Japan and U.S. can shape China’s peaceful rise’


Coordination among India, Japan and the U.S. on security cooperation and economic ties are essential because they can fundamentally talk about how they can “shape China’s rise in a peaceful way”, said Nicholas Szechenyi, Deputy Director and Senior Fellow – Japan Chair at the Centre for Strategic & International Studies (CSIS).

“India has unique interests with China, as does Japan and as does the U.S. They may not always align completely, but fundamentally if we are going to encourage China’s rise in a way that favours regional stability, I think this element of regional coordination among likeminded states is critical. Therefore India, Japan and U.S. have an important role to play,” Mr. Szechenyi told The Hindu on Tuesday.

The Japanese Cabinet on Tuesday approved a defence white paper for 2015 which sounded alarm over China’s “one sided maritime activities” in the South China Sea. China’s land reclamation in South China Sea has increased tensions in the resource rich region which is contested by several nations.

On the Japanese white paper and their reinterpretation of the constitution, Mr. Szechenyi said the “collective self-defence” by Japan was defensive in posture meant to deter an aggression. On India’s role, Mr. Szechenyi pointed that Japan is set to join India and the U.S. in the Malabar maritime exercises in the Bay of Bengal and it is a sign of increased engagement and good way to “express shared interests”.


4.BRICS bank to bolster Asian infrastructure funding


Nobel Laureate Joseph Stiglitz, who along with economist Nicholas Stern conceptualised the formation of a BRICS-led New Development Bank, which opened in Shanghai on Tuesday has said the NDB is “going to try to be a 21st century institution.”

In an interview with the website Democracy Now , Mr Stiglitz observed: “The other institutions have been trying to adapt from the 20th century — 1944 was when they were founded — but, you know, it’s difficult to move these big institutions, particularly difficult.” The NDB planned to issue its first loans in April next year, Mr. K. V. Kamath, a former head of ICICI Bank and first President of the NDB, announced earlier this month. China will pitch in $41 billion to the NDB — the highest within the BRICS group. Consequently, it will have a 39.5 per cent share of voting rights. Brazil, India and Russia will each pump in $18 billion, while South Africa’s contribution would stand at $ 5 billion. The bank is expected to start operations at the end of this year or early in 2016. The NDB will have an initial capital of US$50 billion, which will be raised to US$100 billion within two years.

At a seminar following the opening ceremony, Lou Jiwei, China’s finance minister said that the NDB will supplement the existing international financial system, and explore innovations in governance models.

Separately in a statement, Jim Yong Kim, President of the World Bank, pointed out that “the New Development Bank joins a growing number of multilateral institutions - including the Asian Infrastructure Investment Bank (AIIB) - that are working to address the world's huge infrastructure needs. Emerging markets and low-income countries face an annual gap of 1 trillion to 1.5 trillion U.S. dollars in infrastructure spending.” The AIIB and the complementary $ 40 billion Silk Road Fund are expected to fund some of projects along Beijing-proposed Belt and Road initiative, aimed at the integration of Eurasian economies.

The first chair of the board of governors will be from Russia, the first chair of the directors from Brazil, and Mr. Kamath is the first president from India. The bank was formally set up at a meeting in Russia on July 7 this year

5.New Development Bank of BRICS opens in Shanghai



The Brazil-Russia-India-China-South Africa (BRICS) grouping has formally opened the New Development Bank (NDB) as a dedicated channel of alternate finance, which will focus on emerging economies and the Global South.

Top officials of the new bank, which opened on Tuesday in Shanghai, stressed that the NDB would not rival but complement the western backed International Monetary Fund (IMF) and the World Bank, born out of the Bretton Woods Conference of the forties. However, the emergence of the NDB and the Asian Infrastructure Investment Bank (AIIB) — a China-led initiative to fund infrastructure in Asia — was hastened by the reluctance by the West, especially the United States, since 2010, to grant emerging economies a greater say within the IMF.

The IMF reforms “would have shifted more power to developing and emerging market economies; however, these reforms have since stalled as a result of the US Congress’ failure to ratify the implementing legislation domestically,” notes an article in the Geneva-based International Centre for Trade and Sustainable Development.



Hotline for closer ties

Rejecting the possibility of a rivalry between the two newly established banks, NDB’s first President Kundapur Vaman Kamath stressed that after a meeting in Beijing with the AIIB, the NDB had decided to establish a “hotline” with the AIIB to forge closer ties between “new institutions coming together with a completely different approach”.

The AIIB and the complementary $ 40 billion Silk Road Fund are expected to fund some of projects along Beijing-proposed Belt and Road initiative, aimed at the integration of Eurasian economies. Nobel Laureate Joseph Stiglitz, who along with economist Nicholas Stern conceptualised the formation of a BRICS-led bank, has said the NDB is “going to try to be a 21st century institution”. In an interview with the website Democracy Now, Mr Stiglitz observed: “The other institutions have been trying to adapt from the 20th century — 1944 was when they were founded — but, you know, it’s difficult to move these big institutions, particularly difficult.”

The NDB will have an initial capital of US$50 billion, which will be raised to US$100 billion within two years.

The NDB planned to issue its first loans in April next year, Mr. Kamath, a former head of ICICI Bank had announced earlier this month. China will pitch in $41 billion to the NDB — the highest within the BRICS group. Consequently, it will have a 39.5 per cent share of voting rights. Brazil, India and Russia will each pump in $18 billion, while South Africa’s contribution would stand at $ 5 billion. The bank is expected to start operations at the end of this year or early in 2016.

At a seminar following the opening ceremony, Lou Jiwei, China’s finance minister said that the NDB will supplement the existing international financial system, and explore innovations in governance models.

Separately in a statement, Jim Yong Kim, President of the World Bank, pointed out that “the New Development Bank joins a growing number of multilateral institutions - including the Asian Infrastructure Investment Bank (AIIB) - that are working to address the world's huge infrastructure needs.”



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