Which country has created a new ministry for industry and mineral resources, separating it from energy?
• Saudi Arabia created a new ministry for industry and mineral resources
• Saudi Arabia created a new ministry for industry and mineral resources, separating it from energy, after a study of the Kingdom’s rapidly changing economic base.
• Since the launch of the Saudi Vision 2030 in April 2016, some ministries and government agencies have been restructured to suit the objectives and strategies of that process.
• The creation of the new ministry falls within that larger vision and according to state news media, it will be fully independent starting on January 1, 2020. Bandar Al-Khorayef, a businessman from the Saudi industrial conglomerate Khorayef Group, will be the department’s head.
• The oil, gas, petrochemical, energy, electricity, industry and mineral resources sectors were merged into a single portfolio, called the Ministry of Energy, Industry and Mineral Resources. All of these enormous economic activities have been under one roof.
The Automatic Exchange of Information (AEOI) Regime between India and which country has been started from September 1, 2019?
• Switzerland to share bank account information with India
• Banking details of Indians with accounts in Switzerland will be available to tax authorities from September 1 as the automatic exchange of information regime((AEOI) kicks off between the two countries.
• The move, the Central Board of Direct Taxes (CBDT) said, is a significant step in the government’s fight against black money and the era of “Swiss bank secrecy” will finally be over from September.
• The CBDT frames policy for the Income-Tax Department.
• The first automatic exchange of financial account information (AEOI) under the provisions common reporting standard will start from September.
• “India will receive information of the calendar year 2018 in respect of all financial accounts held by Indian residents in Switzerland,” the CBDT said in a statement.
4th Indian Ocean Conference 2019 was recently held in which country?
• 4th Indian Ocean Conference 2019 held in Male.
• 4th Indian Ocean Conference 2019 was recently held in Male, Maldives. Indian External Affairs Minister S. Jaishankar was one of the speakers at the Indian Ocean Conference 2019 event.
• The theme for 4th Indian Ocean Conference 2019 was: ‘Securing the Indian Ocean Region: Traditional and Non-Traditional Challenges’. This edition of the conference will provide yet another opportunity for stakeholders of the Indian Ocean Region to deliberate on building an institutional framework for managing the threats to regional peace and human security.