Daily Briefing / May 28, 2020

US to end sanctions waiver for nations in Iran nuke deal

The US will end the last remaining sanctions waiver that allowed countries like China to cooperate with Iran on civil nuclear projects under the landmark 2015 Iran nuclear deal, Secretary of State Mike Pompeo has announced. European nations and other parties to the nuclear deal, including Russia and China, have continued to work with Iran within the framework of the 2015 pact, which eased economic sanctions on Tehran in exchange for limits on its nuclear programme. The waivers allowed companies from these countries to work with Iran on civil nuclear projects. Pompeo announced on Wednesday that the waivers will end following a 60-day wind-down period that is meant to allow businesses to cease operations. The announcement virtually ends the Iranian nuclear deal, which was a key foreign policy accomplishment of the previous Obama Administration. President Donald Trump withdrew from the nuclear deal in 2018 and has steadily reimposed US sanctions on Iran that had been eased or lifted under its terms.

K.V. Kamath steps down as chief of BRICS bank

The New Development Bank of the BRICS countries appointed Marcos Prado Troyjo, who served as Brazil’s economy minister, as the new president of the Shanghai-based bank. He will replace eminent Indian banker K.V. Kamath who took over as the first president of the bank in 2015. The Board also appointed Anil Kishora, of the State Bank Of India (SBI), as the vice president of the NDB to assist the emerging economies in infrastructure development loans. The decisions were made at a special meeting of the Board of Governors in accordance with the Articles of Agreement of the NDB and its procedures, an official statement said. Troyjo served as Brazil’s deputy economy minister and special secretary for foreign trade and international affairs and represented the Brazilian government on the boards of multilateral development institutions. Kishora, who worked in the SBI for about 38 years, had exposure to all areas of SBI operations, the statement said. Outgoing president Kamath, 72, played a key role in consolidating the NDB, virtually setting it up from the scratch using his experience in the banking institutions in India.

Govt amends norms to bring PM CARES under CSR activity

The government has amended the norms whereby contributions by corporates to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) fund will qualify as CSR spending under the companies law. Under the Companies Act, 2013, certain classes of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards Corporate Social Responsibility (CSR) activities in a particular fiscal. In March, the corporate affairs ministry said contributions by companies to the PM CARES fund would be considered as CSR spending. The decision by the ministry, which is implementing the Act, came amid the coronavirus pandemic. Now, the ministry has made changes in Schedule VII of the Act to provide for the provision. Schedule VII pertains to CSR activities. The PM CARES fund would be utilised to deal with any emergency or distress situation such as coronavirus outbreak.

UN to honour Maj Suman Gawani for her work in South Sudan

Bringing honour to India with her service, Major Suman Gawani of the Indian Army, a Military Observer, formerly deployed with the UN Mission in South Sudan (UNMISS) won the prestigious United Nations Military Gender Advocate of the Year Award in 2019, the first year the prestigious award has gone to a peacekeeper from India. Gawani, along with Commander Carla Monteiro de Castro Araujo, a Brazilian Naval officer working in the United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic, were named joint winners of the United Nations Military Gender Advocate of the Year 2019 Award. The award recognises the dedication and effort of an individual military peacekeeper in promoting the principles of UN Security Resolution 1325 on Women, Peace and Security in a peace operation context, as nominated by Heads and Force Commanders of peace operations. Five Indian peacekeepers, who laid down their lives while serving in UN peacekeeping missions last year, are among 83 military, police and civilian personnel to be honoured this week with a prestigious UN medal awarded posthumously for courage and sacrifice in the line of duty.

ILO expresses concerns over labour law suspension

The International Labour Organisation (ILO) assured 10 central unions that it has expressed deep concerns over the suspension and tweaking of labour laws by states to Prime Minister Narendra Modi. Besides, the ILO has also urged the PM to send a clear message to central and state governments to uphold India's international commitments (conventions based on labour laws) and engage in social dialogue. The ILO’s intervention came after ten central trade unions escalated the issue of suspension and tweaking of labour laws with the international body through a letter on May 14, 2020. Meanwhile, Niti Aayog Vice Chairman Rajiv Kumar said reforms do not mean complete abolition of labour laws and that the central government is committed to protecting the interests of workers. India has inked many conventions with ILO which commensurate with the existing legal system and laws of the land. A country can ratify a convention with ILO after putting in place all provisions mandated in its laws and legal framework. Thus, a change in labour laws or suspending those may lead to violation of these conventions.

Newsmaker

Renowned Urdu writer and satirist Mujtaba Hussain, who had returned the Padma Shri award to the Union government last year, passed away in Hyderabad. He was 87. Hussain was awarded the Padma Shri in 2007 for his contribution to Urdu literature.

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