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Daily G.K. - Top Stories

29 Dec 2015

INTERNATIONAL AFFAIRS

Ramadi Fully Liberated

  • Iraqi forces have liberated the city of Ramadi and raised the national flag above the flashpoint government complex.
  • Ramadi is a city in central Iraq. It is the capital of Al Anbar Governorate and is the largest city in Al-Anbar.

Saudi Posts Record $98 Billion Deficit

  • Saudi Arabia posted a record $98 billion budget deficit in 2015 due to the sharp fall in oil prices.
  • Revenues were estimated at 608 billion riyals ($162 billion), well below projections and 2014 income.
  • The budget deficit is the highest in the history of Saudi Arabia, the world's largest oil exporter.
  • It was the second deficit year in a row for Saudi Arabia and Riyadh is expected to announce another shortfall when it unveils its 2016 budget.
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BUSINESS AND ECONOMY

No More LPG Subsidy for Consumers with Taxable Income

  • The government has decided that consumers with taxable income above Rs. 10 lakh per year will not get LPG subsidy from January 2016.
  • The subsidy payout on LPG in 2014-15 was Rs. 40,551 crore, which this fiscal will be less than half as oil prices have slumped to six year low.

SEBI Slaps Rs. 6.5 L Fine on 3 Entities

  • Regulator for the securities market Sebi has imposed a penalty totalling Rs. 6.5 lakh on three entities for failing to make shareholding disclosures within the stipulated timeline.
  • SEBI has levied a fine of Rs. 2.5 lakh each on Anushikha Investments and Swaran Financial and Rs 1.5 lakh on York Financial Services.

Amway Invests in Tamil Nadu Plant

  • Amway India Enterprises, India's largest direct selling FMCG company and a wholly owned subsidiary of Amway Corporation, USA, has invested Rs. 550 crore in a manufacturing facility in Tamil Nadu, which can handle a turnover of Rs. 6,500 crore to meet consumer needs.
  • This is Amway's third manufacturing plant located outside of USA. The other plants are located in China and Vietnam. Amway has spent more than 30% of the $335 million allocated for global expansion in India.
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SCIENCE & TECHNOLOGY

Processor Capable of Transmitting Data Using Light

  • A team of engineers has demoed the first processor that uses light for ultrafast communications.
  • The researchers packed two processor cores with more than 70 million transistors and 850 photonic components onto a 3-by-6-millimeter chip.
  • The new chip marks the next step in the evolution of fiber optic communication technology by integrating into a microprocessor the photonic interconnects, or inputs and outputs (I/O), needed to talk to other chips.
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NATIONAL AFFAIRS

Karan Adani Takes Over as CEO of APSEZ

  • Karan Adani, son of Adani Group Chairman Gautam Adani, has been appointed as the CEO of Adani Ports and SEZ (APSEZ) with effect from January 1, 2016.
  • He will take over the top job from outgoing CEO Sudipta Bhattacharya.
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