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Daily G.K. - Top Stories

29 Oct 2014

INTERNATIONAL AFFAIRS

Jack Ma tops China Rich List

  • Jack Ma, founder of e-commerce giant Alibaba, is China`s richest person with a fortune of nearly $20 billion.
  • The number of Chinese billionaires surged to 242 this year from 168 in 2013.
  • Alibaba was founded 15 years ago with $60,000 pooled together from Ma`s friends, and is now valued at more than $240 billion after listing in the United States.
  • He is the first mainland Chinese entrepreneur to appear on the cover of Forbes.
     

Turkey allows Iraqi Kurdish forces in Syria to fight IS

  • Turkish government allowed the Iraqi Kurdish forces to cross its territory into Syria at any moment to fight against Islamic State (IS).
  • Some 150 Peshmerga forces will be sent to Kobane through Turkey soil.
  • Kurds in Turkey staged violent protests three weeks ago over the government`s unwillingness to help support Kobane.
     
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ENVIRONMENT

A Century Later, Relics Emerge from a War Frozen in Time

  • The first cold war was fought during the First World War.
  • Italian and Austro-Hungarian troops clashed at altitudes up to 12,000 feet (3,600 meters) with temperatures as low as -22°F (-30°C) in the Guerra Bianca, or White War, named for its wintry theater. Never before had battles been waged on such towering peaks or in such frigid conditions.
  • Now, a century later, the warming world is revealing the buried past, as relics and corpses are melting free of their icy tombs.
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BUSINESS AND ECONOMY

OVL to Take Stake in 2 Vietnam Blocks

  • ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation, signed an agreement to pick up to 50% stake in PetroVietnam's two exploration blocks in the South China Sea.
  • OVL will take 40% stake in Block 102/10 and 50% in 106/10 that lie outside the sea territory claimed by China. PetroVietnam will take half of OVL's 100% stake in Block 128 in South China Sea, which the Indian firm had earlier planned to exit.
  • ONGC also signed a MoU with PetroVietnam Exploration Production Corporation (PVEP) for "mutual cooperation for exploration in the NELP blocks of ONGC in Andaman and Cauvery Basins, subject to due diligence and negotiations on terms of participation.
  • OVL forayed into Vietnam as early as 1988, when it was awarded the exploration license for Block 06.1. The block is producing natural gas. The company also was given exploration Blocks 127 and 128 in 2006.
     
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SCIENCE & TECHNOLOGY

Amazon Unveils Fire TV Stick, Challenging Google's Chromecast

  • Amazon unveiled a new media stick allowing users to stream content to television sets, challenging Google's Chromecast device released last year.
  • The plug-in Fire TV Stick, provides access to Amazon Instant Video as well as other services including Netflix, Hulu Plus, WatchESPN and NBA Game Time.
  • The Fire TV Stick is being sold in the US market for $39, or $19 for customers who subscribe to Amazon Prime, which gives customers free shipping and access to music, videos and other online content.

Unmanned Rocket Antares Explodes

  • Antares, a 14-storey rocket built by Orbital Sciences Corp, combusted seconds after leaving the seaside launch pad at Wallops Flight Facility.
  • The cause of the cargo ship malfunction has yet to be determined.
  • The rocket was due to carry nearly 5,000 pounds (2,200kgs) of supplies to six astronauts aboard the International Space Station.
  • The blast has seriously damaged the launch pad and support infrastructure.
  • There is no doubting the explosion is a major setback for Orbital Sciences Corporation.
     
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SPORTS

British-Indian Billionaire Brothers Eye F1 Team Marussia

  • British Indian brothers Baljinder Sohi and Sonny Kaushal are looking to purchase Formula One team ‘Marussia’, based in Britain and owned by Russian billionaire Andrey Cheglakov.
  • The purchasing sum is reported to be 70 million euros.
  • If the deal passes through the two brothers would also inherit Marussia's current debt of about 38 million euros, believed to be owed by the team to Ferrari for their engines this season.
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NATIONAL AFFAIRS

India's Role in the World's Largest-Ever Scientific Project

  • In southern France, more than 20 billion dollars are being spent on trying to make a first-of-its-kind nuclear reactor, a special steel cauldron where top scientists from countries including India hope to generate clean nuclear energy by fusing atoms, a process similar to what happens on the sun.
  • Till date this is the world's largest scientific project ever to be undertaken. The reactor will weigh about 23,000 tons and around 80,000 kilometres of special super conducting wires will be used.
  • The International Thermonuclear Experimental Reactor (ITER) brings together India, China, South Korea, USA, Japan, Russia and the European Union as scientists see if they can jointly harness the power of the Sun by literally confining it in a steel bottle.

Airbus and Tata Team up to Bid for Indian Aircraft Deal

  • Tata Sons and Europe's Airbus have bid for a multi-billion dollar contract to replace the Indian Air Force's ageing fleet of Avro cargo planes.
  • The bid is estimated to be worth at least $2 billion, Airbus' Defence and Space unit and Tata's Advanced Systems would replace the 56 Avro jets with Airbus' C295 transport planes.
  • The first 16 planes would be supplied by Airbus from its own assembly line and the remaining 40 would be manufactured and assembled by Tata Advanced Systems in India.
  • They would be the first military planes built by an Indian private company on Indian soil, with current manufacturing dominated by state-run Hindustan Aeronautics.
     
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