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Daily G.K. - Top Stories

12 Feb 2015

INTERNATIONAL AFFAIRS

Apple Becomes First Company Worth over $700 bn

  • Apple has become the first company to reach a market value of $700 billion.
  • Shares rose 1.9 percent to close at $122.02, lifting Apple's market value to $710 billion, and making it the first company to hit the $700 billion milestone.
  • According to analyst, the leading tech company has even more room to grow.

Australia`s Jobless Rate Jumps to 6.4%

  • According to official data, Australia`s unemployment rate jumped to a 12-year high of 6.4 percent in January.
  • Economists had been expecting a rise to 6.2 percent from December`s 6.1 percent but with the number of people employed falling by 12,200 it was worse-than-expected.
  • According to the Australian Bureau of Statistics full time employment dropped by 28,100 in January and part time employment was up 15,900.
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ENVIRONMENT

Global Sea Ice Diminishing

  • A study by NASA has found that the gains from sea ice increase in Antarctica do not cancel out the loss from the accelerated decrease in Arctic sea ice of the last decades.
  • As a whole, the planet has been shedding sea ice at an average annual rate of 35,000 square kilometers since 1979.
  • Even though Antarctic sea ice reached a new record maximum this past September, global sea ice is still decreasing.
  • This is because the decrease in Arctic sea ice far exceeds the increase in Antarctic sea ice.
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BUSINESS AND ECONOMY

Stanchart Revises FY16 GDP growth forecast to 7.7%

  • As per reports by Standard Chartered, the statistical boost to GDP is likely to continue in the next financial year as well, as the Indian economy is expected to clock 7.7 percent growth under the new series, higher than 6.3 percent projected under the older series.
  • The Central Statistics Office (CSO) estimates real GDP growth (with 2011-12 as the new base) at 7.4 percent in 2014-15 as against 6.9 percent in 2013-14.
  • The RBI will therefore need to reassess its potential growth estimates (6.0-6.5 percent) in view of the new GDP data and assess any slack in the economy.

RIL Challenges Oil Ministry

  • Reliance Industries has slapped an arbitration notice challenging the oil ministry's decision to take away 814 sq km of its eastern offshore KG-D6 area that contained five gas discoveries.
  • As per norm of giving up non-discovery area, RIL had in 2013 offered to give up 5,385 sq km out of a total of 7,645 sq km area in Krishna Godavari basin KG-D6 block. But the ministry in October 2013 ordered 6,198.88 sq km of total area to be taken away as the time allocated for producing from these had expired.
  • In January RIL challenged this order stating the 814 sq km of additional area that the ministry had taken away contained five gas discoveries holding close to 1 trillion cubic feet of reserves.
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SCIENCE & TECHNOLOGY

SpaceX Capsule Returns

  • Dragon cargo ship headed back to Earth from the International Space Station.
  • The Dragon capsule departed the International Space Station and made a splashdown in the Pacific Ocean.
  • The Dragon is loaded with nearly 4000 pounds of returning science experiments and equipment, including two faulty components from spacesuits that engineers want to analyze before clearing the US astronauts for a trio of spacewalks later this month.
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NATIONAL AFFAIRS

Bihar Governor Asks CM Manjhi to Prove Majority

  • Amid political standoff in Bihar, Governor Keshari Nath Tripathi asked Chief Minister Jitan Ram Manjhi to prove majority on the floor of the Assembly on 20th February. JDU has expelled Manjhi from the party and the Bihar Assembly Speaker Uday Narain Choudhary has declared him non-attached member of the assembly.
  • Manjhi had met the Governor and made a claim that he will prove majority on the floor of House if given an opportunity.
  • Janata Dal United leader Nitish Kumar, who was elected leader of JDU Legislative party, met President Pranab Mukherjee to convey the support of 130 MLAs and urged him to advise the state Governor to take an immediate decision claiming that any delay will pollute the atmosphere in the state.
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