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Daily G.K. - Top Stories

04 May 2015

INTERNATIONAL AFFAIRS

Egypt Extends Army Deployment in Gulf

  • Egypt has extended for another three months the Army deployment in the Gulf and strategic Bab al-Mandab Strait for another three months following a request from the country's defence ministry to defend Egyptian and Arab national security.
  • Egypt in March had decreed that naval and air forces units will be sent to the Red Sea and Bab Al-Mandeb Strait for 40 days as part of the Saudi-led military operation against Iranian-backed Houthi rebels.
  • Egypt needs uninterrupted access to the Red Sea, located at the southern end of the Suez Canal, through which much of the world's maritime trade passes.
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ENVIRONMENT

Lake Foaming Shows Urban Wetlands under Threat

  • According to the Centre for Science and Environment (CSE) the phenomenon of foaming of Lake Varthur in east Bengaluru shows that the wetlands in the city as well as urban India are under a serious threat.
  • The foam is the result of the water in the lake having high content of ammonia and phosphate and very low dissolved oxygen.
  • Essentially, this is caused by untreated sewage flowing into the lake.
  • Delhi-NCR and many other cities across the country face similar foaming in their rivers and other wetlands on a regular basis
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BUSINESS AND ECONOMY

Aditya Birla Group Consolidates Apparel Businesses into One Entity

  • In a major restructuring exercise, Aditya Birla Group announced the merger of all its branded apparel businesses into one entity.
  • The new entity will have a combined turnover of Rs. 5,290 crore and a retail network of 1,869 exclusive stores, becoming the largest pure play fashion company in the country.
  • The move to bring all the branded apparels businesses under one roof will accelerate the growth of these businesses and help exploit emerging opportunities presented by the rapidly growing Indian apparel market.
  • The apparels category is the largest contributor to the organised retailing market in India.
  • The transaction is subject to the necessary statutory and regulatory approvals including approvals of the respective High Courts, stock exchanges, SEBI, respective shareholders and lenders/creditors of each of the companies.

FPI Inflows Hit 4-month Low

  • Investments by Foreign Portfolio Investors (FPIs) in the country's capital markets hit a four-month low of just over Rs. 15,000 crore in April amid taxation related concerns.
  • As per data compiled by Central Depository Services Ltd.FPIs have bought shares worth Rs. 11,721 crore (USD 1.87 billion) in April, while they purchased debt securities to the tune of Rs. 3,612 crore (USD 570 million), taking their net investment to Rs. 15,333 crore (USD 2.44 billion).
  • This was the lowest level of investment since December, when overseas investors had pumped in Rs. 12,225 crore in the country's capital markets (equity and debt).
  • The pace of investment has slowed down in April on apprehensions that the government will impose a 20 percent minimum alternate tax (MAT) on profits earned by overseas investors.
  • Besides, the forecast of weak monsoon has lowered enthusiasm for Indian equities among foreign investors.
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SPORTS

Floyd Mayweather Still Undefeated

  • Floyd Mayweather cemented his status as the best pound-for-pound boxer in the world with a unanimous decision over Manny Pacquiao as the "Fight of the Century" failed to live up to the hype.
  • Mayweather retained his WBC and WBA welterweight titles and seized Pacquiao`s WBO belt by winning the fight on all three of the judges` scorecards.
  • Filipino star Pacquiao suffered the sixth loss of his career to go with 57 victories and two draws.

Roger Federer Ends Claycourt Drought

  • Roger Federer won the inaugural Istanbul Open, beating third seed Pablo Cuevas for his first claycourt title in three years.
  • The world number two took his 85th ATP World Tour title to end a long drought on clay dating back to the 2012 Madrid Masters, which was played on a slick blue surface.
  • Federer has now won titles in 19 different countries.
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NATIONAL AFFAIRS

India Welcomes UN Assurance to Take Zaki-ur-Rehman Lakhvi's Issue

  • India welcomed UNSC's assurance of taking up the issue of Mumbai terror attack mastermind Zaki-ur Rehman Lakhvi's release at its next meeting.
  • The assurance by the UNSC to take up the matter came after India's Ambassador to the UN wrote a letter to the Chair of the UNSC al Qaeda Sanctions Committee Ambassador expressing concern over Lakhvi's release.
  • The next meeting of the committee is expected to take place in the next few days.

SP Wins Pharendra Assembly Seat

  • The Samajwadi Party has bagged the Pharenda Assembly seat, wresting it from the Bharatiya Janata Party in the by-election held in April.
  • The Congress was placed second, pushing the BJP to a distant third.
  • Pharenda in Maharajganj district in Eastern Uttar Pradesh was never won by the Samajwadi Party.
  • Vinod Mani of the ruling party emerged the winner by defeating his nearest rival Virendra Chaudhary of the Congress by a margin of 9,231 votes.
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