Here are  Back2Basics collections from today’s news items

B2B #1: From news – Cross-border insolvency: Rules to help lenders access foreign assets

United Nations Commission on International Trade Law

1. UNCITRAL was established in 1966 with the recognition that international trade cooperation among States is an important factor.
2. When world trade began to expand dramatically in the 1960s, national governments began to realize the need for a global set of standards and rules to harmonize national and regional regulations, which until then governed international trade.
3. UNCITRAL Model Law on Cross-Border Insolvency was a model law issued by the Secretariat of UNCITRAL in 1997 to assist states in relation to the regulation of corporate insolvency and financial distress involving companies which have assets or creditors in more than one state.
4. The Model Law is designed to provide a model framework to encourage cooperation and coordination between jurisdictions.

B2B #2: From news – World’s hungry population on the rise again, says UN report

Sustainable Development Goals

1. The Sustainable Development Goals (SDGs) are a collection of 17 global goals set by the United Nations in 2015 and are to be achieved by 2030.
2. The SDGs cover social and economic development issues including poverty, hunger, health, education, climate change, gender equality, water, sanitation, energy, urbanization, environment and social justice.
3. The formal name for the SDGs is: “Transforming our World: the 2030 Agenda for Sustainable Development.” That has been shortened to “2030 Agenda”.
4. The resolution is a broad intergovernmental agreement that acts as the Post-2015 Development Agenda.
5. This was a non-binding agreement as a result of Rio+20 Conference held in 2012.
6. NITI Aayog is set up in line with attaining these SDGs.

Here’s a Factoid to brush up your concepts

Key words related to History : Parigraha

Dynasty/era : Mahavira period

Meaning : 1.Parigraha-parimana is one the 12 vratas or vows of a layperson in Jainism. Specifically, it is a vow to limit attachment to worldly possessions. 2.Unlike monks or ascetics who observe such vows more strictly, the layperson may make a vow to limit his or her attachment to certain possessions or a certain number of possessions, or they may vow to limit attachment for a specified period of time.