GCC is a regional intergovernmental political and economic union consisting of all Arab states of the Persian Gulf, except for Iraq. Its member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

IMPOTANT LEARNING:

It's been in news for the following reasons:

Qatar crisis: Early in June, powerful neighboring Arab nations of Saudi Arabia, United Arab Emirates, Bahrain and Egypt moved to sever diplomatic and economic ties with Qatar by shutting off shipping routes and air space over Doha's alleged support for terrorism across the region, and its ties with Iran.

The number of Indian workers emigrating to the Gulf for work has dropped in the past couple of years, possibly due to slowing economies of countries part of the Gulf Cooperation Council (GCC) which have been hit by weaker oil prices. The decline has been significant between 2014 and 2016.

External Affairs Minister Sushma Swaraj inaugurated the country's first Videsh Bhavan in the Bandra Kurla Complex (BKC), Mumbai.

Videsh Bhavan integrates all offices under MEA. The Bhavan will house four major MEA offices: Regional Passport Office, Protector of Emigrants Office, Branch Secretariat and the Regional Office of Indian Council of Cultural Relations. The Bhavan will cater to the geographical area of Daman and Diu, Dadra and Nagar Haveli, apart from 12 Maharashtra districts. The Protection of Emigration Office will play a crucial role as 70% of the country's emigration applications come from Mumbai alone.

• Gaya Prasad Katiyar was born at Jagadishpur (UP). He joined Hindustan Socialist Republican Association in 1925 and got connected with Chandra Shekhar Azad and Bhagat Singh.
• Later he participated on Lahore Conspiracy Case and was arrested from Saharanpur in 1929. He joined the hunger strike at Lahore Jail with his co prisoners. Later he was transported to Cellular jail in Andaman and again he participated on hunger strike there. He was repatriated in 1937 but again arrested and transported to cellular jail from where he was released in 1946.

PIB: Centre releases special stamp on freedom fighter "Shri Gaya Prasad Katiyar" ;

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• They are bonds issued outside India by an Indian entity or corporate.
• Masala bonds are issued directly in Indian rupees, the investor needs to bear the exchange rate risks.
• Rupee rate falls will not affect the issuer of Masala Bonds. In simpler words, as Masala Bonds are rupee-denominated bonds, the risk goes directly to the investor.
• The first Masala bond was issued in 2014 by IFC for the infrastructure projects in India.

Refer: "

"It has been estimated that the global MICE market, which supports 400,000 conferences and exhibitions worldwide, is of the size of US $ 280 billion and is a significant economic driver for a large number of nations. The total size of the Asian MICE market accounts for US$ 60 billion having demonstrated a growth of 38% since 2006. In the absence of world class exhibition and conference facilities, India has not benefited from the potential benefits of this development. In order to capitalize on this vast market and to drive India's industry, commerce, trade and tourism, the Department of Industrial Policy & Promotion has taken the initiative to develop a State-of-The-Art Exhibition-cum-Convention Centre at Delhi."

Apart from one at Dwarka, Delhi, another is coming up at Pragati Maidan, Delhi.

http://pib.nic.in/newsite/PrintRelease.aspx?relid=138299

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http://www.thehindu.com/business/new-delhi-convention-centre-faces-delays/article8964869.ece "