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Daily G.K. - Top Stories

16 Aug 2015

INTERNATIONAL AFFAIRS

Greek Faces Revolt after Eurozone Approves Bailout

  • Greek Prime Minister battled a major revolt amongst members of his radical-left party who opposed the third huge bailout for the crisis-hit country.
  • Finance ministers from the 19-member eurozone approved a package of 86 billion euros (USD 96 billion) that Greece will receive over three years in exchange for far-reaching pro-market reforms.
  • The green light for the deal, designed to stop Athens from defaulting on its huge debts and crashing out of the euro, came after the Greece parliament voted through the agreement after a bitter debate.
  • As per Tsipras the bailout was in Greece`s best interests. The agreement will advance Greece by making its financial system more stable.
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ENVIRONMENT

Godzilla El Nino the Worst One till Date

  • Scientists have predicted a 'Godzilla El Nino,' which will be worse than all the previous El Ninos is alresdy happening.
  • Scientists and meteorologists, who have been monitoring sea surface temperatures since March, have agreed that the world was in the midst of an El Nino.
  • They have also said that this El Nino had the potential to be the most powerful on record.
  • El Nino is the warm phase of the El Niño Southern Oscillation (commonly called ENSO) and is associated with a band of warm ocean water that develops in the central and east-central equatorial Pacific.
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BUSINESS AND ECONOMY

SEBI Notifies Norms for Startups

  • To aid fund-raising by technology-driven startups from the public market, SEBI notified easier norms for companies from sectors like IT, data analytics, biotechnology and nanotechnology to list on a special platform where only investors who can take higher risks can trade.
  • The startup platform will be a combination of existing institutional trading platforms and some of the rules of the main trading platforms of the BSE and the NSE where most of the stocks are currently traded.
  • The changed norms will allow significant relaxations in terms of disclosure requirements, and easier delisting and takeover rules. The changes are aimed at encouraging Indian startups to look at raising funds from within India and not moving abroad for funds.

Wholesale Inflation Lowest Since 1976

  • Wholesale prices plunged for the ninth consecutive month in July on the back of a decline in food and fuel prices, raising prospects of a cut in interest rates to give a push to growth. This was the lowest level of the inflation based on wholesale price index (WPI) since 1976. According to economists, is the longest stretch of negative wholesale prices in the country since 1975. WPI inflation was in negative zone for 12 months between July 1975 and June 1976.
  • Data released by the commerce ministry showed the wholesale inflation fell 4.05% in July compared to a decline of 2.40% for the previous month and 5.41% during the corresponding month of the previous year.
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SPORTS

Saina Nehwal Enters World Championships Final

  • Saina Newhal became first Indian to enter the final of World Badminton Championships.
  • The second-seeded Indian wrapped up the women's singles second semi-final in 55 minutes.
  • She will play top-ranked and defending champion Carolina Marin of Spain in the final.
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NATIONAL AFFAIRS

Kerala India's First Complete Digital State

  • Chief Minister Oommen Chandy declared Kerala as a 'complete digital state' and announcement of a new youth programme in memory of former President, the late A. P. J. Abdul Kalam on the Independence Day.
  • The state has achieved 100 per cent mobile density, 75 per cent e-literacy, highest digital banking rate and broadband connection up to panchayat level.
  • Wi-fi hotspots would be in all local self government institutions and implement complete mobile governance in the next phase to achieve the best results of the Digital Kerala initiative.
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