Current Affairs - 05 January 2018

1. Iceland becomes first country to legalise equal pay

A new law making it illegal to pay men more than women has taken effect in Iceland. The legislation makes Iceland the first country in the world to legalise equal pay between men and women.
Key facts:
Under the new rules, companies and government agencies employing at least 25 people will have to obtain government certification of their equal-pay policies. Those that fail to prove pay parity will face fines. The move is part of a bid to eradicate the gender pay gap by 2022 in the Nordic nation where 38% of parliamentarians are female – above the global average – including Prime Minister Katrin Jakobsdottir.
Iceland, an island country in the North Atlantic Ocean that is home to approximately 323,000 people, has a strong economy, based on tourism and fisheries. For the past nine years, it has been ranked by the World Economic Forum (WEF) as the world’s most gender-equal country.
Facts for Prelims:
The WEF Global Gender Gap Report uses markers such as economic opportunity, political empowerment, and health and survival to gauge the state of gender equality in a country.
According to the latest WEF report, the top five best performers in the global gender gap are Iceland, Norway, Finland, Rwanda and Sweden. Yemen, on the other hand, is currently the lowest-ranked of the 144 countries measured in the report. India is ranked 108. Fifty-two countries fell below the global average in 2017, including China, Liberia and the United Arab Emirates, while 60 saw their overall gender gap decrease. Hungary was the only European country to be ranked lower than the global average, having scored poorly on political empowerment.

Source: The Hindu

2. Global Entrepreneurship Summit 2017 (GES-2017)

Context: The Union Cabinet has given its ex-post facto approval for the Memorandum of Understanding (MoU) signed between India and the USA for co-hosting the Global Entrepreneurship Summit (GES) 2017 in India. The MoU delineated the responsibilities, areas of co-operation including logistics and venue related requirements between the parties for smooth conduct of the Summit.
About GES 2017:
What is it? The summit organised annually since 2010, is the preeminent annual entrepreneurship gathering that convenes over one thousand emerging entrepreneurs, investors, and supporters from around the world. GES 2017 marks the first GES held in South Asia.
Key facts: The 8th edition of the Global Entrepreneurship summit (GES) was recently held in Hyderabad. It was hosted by NITI Aayog in partnership with US government. The summit was attended by 1,500 entrepreneurs from 170 countries.
GES 2017 Theme: “Women First, Prosperity for All”. Outcomes of the summit: The Summit provided opportunities for meeting with global industry leaders, networking of international entrepreneurs, innovators, investors. The summit also provided forum for pitching competition, strategic workshops and sector-programmes to help in creating new collaborations amongst entrepreneurs and Investors. The Summit provided for significantly increased economic opportunities for young entrepreneurs, especially, women entrepreneurs and start-ups.

Source: PIB

Tags : Current Affairs | 04 Jan '18 | 06 Jan '18