Chagos Islands dispute
Why in news?
- Mauritius called the UK an “illegal colonial occupier”, after it ignored a UN mandated deadline to return the Chagos Islands to Mauritius.
- The United Nations had given UK six months to process the transfer, a move the UK and the US have bitterly resisted.
News in detail
- The Chagos Archipelago is a group of seven atolls comprising more than 60 individual tropical islands in the Indian Ocean.
- It is officially part of the British Indian Ocean Territory.
Timeline of dispute:
- Chagos Archipelago has been part of Mauritius since at least the 18th century when France governed it. In 1810, Mauritius was captured by the United Kingdom and France ceded the territory in the Treaty of Paris.
- In 1965, three years before Mauritius got its independence, Britain separated the Chagos islands to carve out a ‘British Indian Ocean Territory’.
- In 1966, the UK leased Diego Garcia (the biggest island in the Chagos archipelago) to the US to create an air & naval base. For constructing the defence installation, the inhabitants of the island were forcibly removed.
- In 1968 Mauritius was granted independence.
- In February 2019, the International Court of Justice (ICJ) issued an advisory opinion that Britain has an obligation to end its administration of the Chagos Archipelago — home to the U.S. military base of Diego Garcia — and complete the process of decolonisation of Mauritius.
- In May 2019, the UN General Assembly passed a resolution asking the U.K. to withdraw its “colonial administration” from the Chagos Archipelago within six months. Mauritius wants its sovereignty over the islands restored.
Clownfish
Why in news?
- A new study published in the journal Ecology Letters has concluded that clownfish cannot be expected to be able to adapt to a rapidly changing environment as it does not have the genetic capacity to do so.
News in detail.
- Clownfish (family: Pomacentridae), also known as anemonefish, are some of the most iconic marine fish in the world.
- They are highly popular among SCUBA divers due to their striking colour combinations of white, orange, yellow and brown.
- There are a total of 28 species of clownfish, which are all very similar in their habits. Perhaps the most renowned of these is the Common Clownfish (Amphiprion ocellaris), which was popularised in the Walt Disney movie ‘Finding Nemo’.
- Clownfish are found in tropical and subtropical areas of the Pacific and Indian Oceans. The greatest diversity of clownfish is found close to Papua New Guinea, although the Great Barrier Reef in Australia is also known for a number of unique variants
- Within their range, clownfish are restricted to shallow waters due to their fascinating relationship with only a handful of specific sea-anemone species.
QS Rankings
Why in news?
- In the latest QS World University Rankings for Asia 2020, 96 Indian institutions rank among 550 for the continent.
News in detail
- The QS Rankings use a methodology based on 11 metrics.
- The National University of Singapore is ranked Asia’s best for the second consecutive year. It is followed by Nanyang Technological University, which has risen from 3rd to 2nd; and the University of Hong Kong.
- 96 Indian institutions rank among 550 for the continent. The 96 Indian universities featured in the rankings include eight among the top 100, and 31 among the top 250. Of these 96 Indian universities ranked, 20 are brand-new entries.
- The best performing institution from India is IIT Bombay, which drops one place to 34th position. It is followed by IIT Delhi at 43rd place and IIT Madras at 50th.
- Only Mainland China is more represented than India, with 118 featured universities. While Mainland China has four in the top 10 this year, India does not yet have a university among the top 30.
Sebi’s new default disclosure norm
Why in news?
- The Securities and Exchange Board of India (SEBI) has approved stricter disclosure norms for listed companies.
Salient features of Norms:
• In case of default in repayment of loans beyond 30 days, listed companies will have to disclose the fact of such default within 24 hours. The new default rule will come into force on January 1, 2020.
• An early disclosure can act as an early warning system, which can help investors make considered decisions on whether to stay on or sell the stock and exit, cutting their losses.
• It is also expected that the move will lead to greater credit discipline in the banking industry.
Other recent steps by SEBI:
• SEBI has amended Portfolio Managers (PM) Regulations, 2019 following which net worth requirement of portfolio managers has been enhanced from two crore to five crore rupees.
• SEBI has approved a proposal to reduce the overall time taken for a rights issue from 55 days to 31 days.
• Besides, SEBI has also extended the Business Responsibility Report requirement to top 1,000 companies, from 500 currently.