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Daily G.K. - Top Stories

15 Jul 2015

INTERNATIONAL AFFAIRS

Iran Nuclear Deal

  • Iran and the P5+1 group -- the United States, China, Russia, Britain, France and Germany sealed the nuclear deal. The following are some of the points: Iran will cut the number of uranium centrifuges, which can enrich uranium for nuclear fuel but also for a nuclear weapon from 19,000 to 5,060, and maintain this level for 10 years.
  • Iran`s current stockpile of several tonnes of low-enriched uranium will be reduced to 300 kilograms (660 pounds) and not rise for 15 years. Only enrichment to low purities is allowed, and for 15 years.
  • There will be limitations on specific research and development (R&D) activities. These activities cannot lead to the accumulation of enriched uranium.
  • The International Atomic Energy Agency (IAEA) will also employ high-tech surveillance equipment and have access to facilities such as uranium mines and centrifuge workshops for periods of up to 25 years.

Greece Needs 85 Billion Euros

  • According to International Monetary Fund, Greece will need debt relief and 85 billion euros (USD 95 billion) in new financing through 2018 because its situation has deteriorated since it closed its banks in the end of June.
  • Greece and its creditors reached a bailout agreement that requires Greece to enact painful budget cuts and economic reforms but allows it to keep using the euro currency.
  • As per the IMF, Greece's debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far.
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ENVIRONMENT

Huawei Project Gets Security Clearance

  • The Chinese firm Huawei Telecommunications has benn given the clearance to set up an electronics/telecom hardware manufacturing unit in Sriperumbudur, Tamil Nadu.
  • The Rs. 25 crore FDI proposal, awaiting the Home Ministry’s clearance since December 2013, was given the go-ahead with certain conditions. The ministry asked the department of industrial policy and promotion (DIPP) and department of telecom to consider reserving critical positions, such as officer in charge of technical operations, chief security officer etc for Indian nationals as a security measure.
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BUSINESS AND ECONOMY

Wholesale Inflation in Negative Zone

  • Wholesale price inflation slipped further to (-)2.4 percent in June on cheaper vegetable and fuel prices, continuing the deflationary trend for the eighth month in a row, prompting the industry to step up its demand for another rate cut by RBI to boost economy.
  • The inflation was (-)2.36 percent in May, while it stood at 5.66 percent in June 2014.
  • The wholesale inflation has been in the negative zone since November 2014.

FDI up 48% in Seven Months of 'Make in India'

  • Foreign direct investment (FDI) into the country has seen a 48 per cent growth in the seven-month period from the launch of 'Make in India' initiative in September till April 2015.
  • The growth in FDI has been significant after the launch of 'Make in India' initiatives in September 2014, with 48 per cent increase in FDI equity inflows during October 2014 to April 2015 over the corresponding period last year.
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SCIENCE & TECHNOLOGY

New Class of Particle Discovered

  • Scientists have discovered of a new class of exotic subatomic particles called the pentaquarks.
  • Pentaquark was first predicted to exist in the 1960s but, much like the Higgs boson particle before it, the particle eluded science for decades until its detection at the LHC.
  • Pentaquark represents a way to aggregate quarks, namely the fundamental constituents of ordinary protons and neutrons, in a pattern that has never been observed before in over 50 years of experimental searches.
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SPORTS

IPL Scam

  • The Justice Lodha Committee suspended for two years the franchise owners of IPL teams, Chennai Super Kings and Rajasthan Royals, for bringing the game into disrepute.
  • The committee also banned for life Raj Kundra, former co-owner of RR, and Gurunath Meiyappan, former "team principal" of CSK for their involvement in betting.
  • The teams cannot continue with the same names for the ban period, which means there will be no CSK or RR in the 2016 and 2017 edition of IPL. However, they can still play in the IPL under different ownerships, and different names, if they are sold and the sales are confirmed by the IPL's governing council.
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NATIONAL AFFAIRS

Government Approves Long-pending Defence Deals

  • The government approved the revival of an old project to replace the existing obsolete air defence artillery guns of the Army, even as decks were cleared for acquisition of another four P-8I long-range maritime patrol aircraft for the Navy.
  • The defence acquisitions council (DAC), gave the nod to pending projects worth over Rs. 30,000 crore in all. They ranged from warship combat management systems and artillery bimodular charge systems to multi-spectrum camouflage nets and microlights for NCC cadets.
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