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Daily G.K. - Top Stories

12 May 2015

INTERNATIONAL AFFAIRS

Priti Patel Gets Cabinet Rank in Cameron’s New Team

  • Prime Minister David Cameron promoted one of Britain's most prominent Indian-origin MPs Priti Patel by making her the new Employment Minister, as he unveiled the first all-Conservative Cabinet in nearly 20 years with his top four aides retaining their previous portfolios.
  • The senior-most berths in the Cabinet were confirmed soon after the election results were out with Chancellor George Osborne, Home Secretary Theresa May, Foreign Secretary Philip Hammond and Defence Secretary Michael Fallon being re-confirmed in their respective posts.
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ENVIRONMENT

Carbon Dioxide Levels Set New Record

  • A new data by the National Oceanic and Atmospheric Administration has revealed that Earth has exceeded the highest ever recorded level of carbon dioxide in the atmosphere surpassing 400 parts per million in March, 2015.
  • The data showed that the CO2 concentration hit 400.83 ppm in March 2015, an increase from the 398.10 ppm recorded in March 2014.
  • Around 300 ppm of carbon dioxide in the atmosphere is suitable for the Earth, but CO2 concentration has risen by more than 120 ppm since pre-industrialisation on a global scale.
  • The swift rise in the CO2 concentration has been attributed by the growth of global emissions from fossil fuel burning.
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BUSINESS AND ECONOMY

Car Sales Grow 18.14% in April

  • Car sales in India rose by 18.14 per cent in April, the fastest growth rate in 30 months, as the auto industry continued its journey to recovery riding on improved consumer sentiments, new models and favourable fuel prices.
  • The previous fastest was in October 2012 when there was a growth of 21.19 per cent at 1,69,788 units.
  • According to the data released, domestic passenger car sales in April stood at 1,59,548 units compared with 1,35,054 in the same month of 2014.
  • Total sales of vehicles across categories registered a growth of 1.91 per cent to 15,83,551 units in April as against 15,53,871 in the same month of 2014

Tata Communications Ties up with China Telecom Global

  • Tata Communications announced a video network partnership with China Telecom Global to enable and manage media content for customers in China and globally.
  • This tie-up enables China Telecom Global to leverage its worldwide reach, along with Tata Communications' Global Video Network to offer live sporting events in China.
  • The partnership will cater to a market opportunity of $2.57 billion.
  • This partnership with China Telecom Global is a step in that direction and marks the expansion of Tata Communications' Global Video Network reach into China.
  • Tata Communications video network covers more than 300 media hotspots in 125 cities globally. Over 24 per cent of the world's internet routes travel over Tata Communications' network.
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SCIENCE & TECHNOLOGY

No Evidence of Life in 100,000 Galaxies

  • A team of scientists after searching 100,000 galaxies for signs of highly advanced extraterrestrial life has found no evidence of advanced civilisations in them.
  • The idea behind the research is that, if an entire galaxy had been colonized by an advanced spacefaring civilization, the energy produced by that civilization's technologies would be detectable in mid-infrared wavelengths.
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SPORTS

India Moves to Fourth Place in ICC Test Rankings

  • India has benefited from the annual update of ICC Test Rankings as it gained four points and two places to occupy the fourth spot in the latest chart issued.
  • In the annual update, the results from 2011-12 have been dropped from the calculations and outcomes from the 2013-14 series weighted at 50 per cent. Thus, India's heavy defeats against England and Australia in 2011-12 no longer count.
  • The annual update has seen a reshuffle in the middle of the pack and now just three rankings points separate third-ranked New Zealand from seventh-ranked Sri Lanka. Prior to the annual update, the gap between the third and seventh ranked sides was seven points.
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NATIONAL AFFAIRS

LS Clears Black Money Bill

  • A stringent law imposing a steep 120 percent of tax and penalty on undisclosed foreign assets and income besides a jail term of up to 10 years to deal with black money stashed abroad was passed by the Lok Sabha.
  • Before the new law comes into effect, a limited period window will be provided to people to declare their till now undisclosed income and assets, pay 30 percent tax and a similar amount as penalty and escape prosecution.
  • The Bill was passed by voice vote with support from the opposition.
  • The new law will help bring black money in the declared economy, improve tax collections and would eventually facilitate lowering of tax rates.

K. V. Kamath first President of New Development Bank

  • K. V. Kamath will be the first president of USD 100 billion BRICS Bank which will provide infrastructure loans to emerging nations, rivalling multilateral lenders such as World Bank and IMF.
  • Kamath will have a five year term at the bank, which is likely to be operationalised within one year as 'New Development Bank' being set up by the five nation grouping, BRICS.
  • Kamath is the non-executive Chairman of the India's largest private sector bank ICICI. Besides, he is also the non-executive chairperson of Infosys.
  • The BRICS nations account for nearly USD 16 trillion in GDP and 40 percent of the world's population.
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