Current Affairs 5th September 2018

Current Affairs 5th September 2018 - Important Points

• Alastair Cook to retire from International cricket after final Test against India on - 7th September 2018
• President Ram Nath Kovind’s visit to Cyprus on - 3rd September 2018
• Proposal to increase wages of artisans by over 36 percent approved by - Government

 Current Affairs 5th September 2018 - Details

Alastair Cook to retire from International cricket after final Test against India on - 7th September 2018

Alastair Cook, former captain of England’s national cricket team has decided to retire from international cricket after the fifth and final match against India at the Oval, starting from 7th September 2018.

While announcing his retirement, the cricketer said, "Although it is a sad day, I can do so with a big smile on my face knowing I have given everything and there is nothing left in the tank. I have achieved more than I could have ever imagined and feel very privileged to have played for such a long time alongside some of the greats of the English game.” He, however, said that he would be missing the dressing room environment.

The 33-year-old is known as one of England’s greatest test players. He is also the highest run-scorer for India in tests and stands 6th on the all-time list of  Test run-scorers, after Ricky Ponting, Sachin Tendulkar, Jacques Kallis, Rahul Dravid and Kumar Sangakkara.

President Ram Nath Kovind’s visit to Cyprus on - 3rd September 2018

India and Cyprus signed key agreements in various areas to cement bilateral ties between both the countries following delegation  level talks between Cyprus President Nicos Anastasiades and President Ram Nath Kovind on 3rd September 2018 .

Both the leaders held the discussion on issues of mutual importance for both the countries.

MoUs were signed between Financial Intelligence Unit of India and Unit to Combat Money Laundering of Cyprus on combating money laundering. This agreement would be further strengthening the institutional framework to facilitate investment cross-flows.  There was one more MoU was signed for cooperation in the field of environment.

Other than signing of these MoUs, India and Cyprus agreed to expand cooperation in the fields of IT, shipping,tourism and renewable energy.

Proposal to increase wages of artisans by over 36 percent approved by - Government

The Union Ministry of Micro, Small and Medium Enterprises approved a proposal by the Khadi and Village Industries Commission (KVIC) to increase the wages of artisans by over 36 percent on 4th September, 2018.
The wages will be enhanced from Rs 5.50 per hank previously to Rs 7.50 per hank with this.

This proposal to increase the wages to Khadi spinners, alongwith payment of government subsidy Modified Market Development Assistance, will be implemented with an effect from 15th August 2018.

Important Highlights

• 30 percent of the prime cost is paid to the Khadi institutions as production subsidy under the MMDA program.
• Out of this 30 percent, 40 percent goes to artisans as wage incentives and then remaining 60 percent is taken by the Khadi institutions.
• The Khadi and Village Industries Commission directly pay these wage incentives to the accounts of the artisans via direct benefits transfer.