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Daily G.K. - Top Stories

04 Sep 2015

INTERNATIONAL AFFAIRS

China Holds Military Parade to Cut Troop Levels

  • President Xi Jinping announced that he would cut troop levels by 300,000 as China held its biggest display of military might in a parade to commemorate victory over Japan in World War II.
  • As per Xi, China would cut by 13 percent one of the world`s biggest militaries, currently 2.3-million strong.
  • No timeframe was given for a reduction that is likely part of long-mooted military reforms. Troop numbers have been cut three times before since the 1980s as part of China`s efforts to modernise its armed forces.

US Trade Deficit Drops in July

  • The US trade deficit fell in July to the lowest level in five months as exports posted a small gain while imports declined, reflecting a big drop in shipments of consumer goods such as cell phones.
  • As per the Commerce Department, the deficit narrowed to USD 41.9 billion in July, a 7.4 percent decline from a June imbalance of USD 45.2 billion. Exports were only 0.4 percent to USD 188.5 billion, helped by stronger sales of U.S.-made autos and machinery, while imports declined 1.1 percent to USD 230.4 billion.
  • So far this year, the deficit is running 3.6 percent above last year's level, reflecting weaker export sales. The concern is that U.S. Growth will be hurt by further declines in exports, reflecting a stronger dollar and overseas weakness in nations such as China.
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BUSINESS AND ECONOMY

Greenpeace India's FCRA Licence Cancelled

  • The Union Home Ministry infromed the Delhi High Court that it cancelled foreign contribution registration of Greenpeace India as it was continuing to use its FCRA accounts despite suspension of the same.
  • MHA, has claimed that Greenpeace violated Foreign Contribution Regulation Act (FCRA) by mixing its foreign and domestic contributions.
  • The Ministry had on April 9 suspended the NGO's registration under Foreign Contribution Regulation Act (FCRA) for 180 days.

Services Sector Improves Further

  • According to a survey, the services sector improved further in August as new orders received by private firms increased at the fastest rate in five months.
  • The Nikkei India Services Business Activity Index, which tracks changes in activity at service companies on a monthly basis, rose from 50.8 in July to 51.8 in August.
  • A reading below 50 means contraction in the sector.

Corp Bond Private Placement Hits 4-month High

  • Indian companies raised over Rs. 46,000 crore through private placement of corporate bonds in August, making it the highest fund raising in the last four months.
  • According to the Securities and Exchange Board of India data, companies garnered a total of Rs. 46,564 crore from debt on a private placement basis in August, higher than Rs. 27,920 crore raised in the preceding month.
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SCIENCE & TECHNOLOGY

Key Radar Fails on NASA’s Environmental Satellite

  • A key instrument on a NASA’s Soil Moisture Active Passive (SMAP) observatory has failed, reducing the ability of scientists to capture data to measure the moisture in Earth`s soil in order to improve flood forecasting and monitor climate change.
  • As per the US space agency, the mission will continue to produce high-quality science measurements supporting SMAP's objectives with its radiometer instrument.
  • The SMAP mission is designed to help scientists understand the links between Earth's water, energy and carbon cycles and enhance our ability to monitor and predict natural hazards like floods and droughts.
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SPORTS

Marvan Atapattu Steps Down as Sri Lanka Coach

  • Marvan Atapattu stepped down as the coach of Sri Lanka’s national cricket team, following their 1-2 series loss to the Indian cricket team.
  • Atapattu was appointed as the head coach in October 2014, previously serving as the Batting Coach of the team from 2011 and as Interim Head Coach for a brief period from April 2014 after Paul Farbrace resigned.
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