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Daily G.K. - Top Stories

01 Jul 2016

INTERNATIONAL AFFAIRS

Boris Johnson Opts out of PM Race

  • Former London mayor Boris Johnson, the runaway bookmakers' favourite to become Britain's next PM, pulled out of the race in a week after leading the campaign to pull the country out of the EU.
  • Johnson, who spearheaded the leave campaign, saw his bid crumble after justice secretary Michael Gove withdrew his backing and announced his own leadership bid.

Italy Elected to UNSC for 2017

  • The United Nations General Assembly elected Italy to fill the final U.N. Security Council seat for 2017, after voting between Italy and The Netherlands was deadlocked and the pair agreed to split the two-year term on the council.
  • Italy has pledged to step down after one year to allow The Netherlands to be elected to the council by the 193-member General Assembly for 2018. The countries vowed to work closely together during the full two-year term.
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ENVIRONMENT

Healing of Ozone Layer

  • According to researchers, the hole in the ozone layer over the Antarctic has begun to shrink, several decades after an international accord to phase out certain pollutants.
  • The study found that the September ozone hole has shrunk by 1.5 million square miles since 2000.
  • The ozone hole was first discovered in the 1950s.
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BUSINESS AND ECONOMY

Indian Money in Swiss Banks Dips

  • Money held by Indians in Swiss banks has fallen by nearly one-third.
  • As per latest data released by central banking authority Swiss National Bank, the funds held by Indians with banks in Switzerland fell by CHF 596.42 million to CHF 1,217.6 million at the end of 2015.
  • This is the lowest amount of funds held by Indians in the Swiss banks ever since the Alpine nation began making the data public in 1997 and marks the second straight year of decline.

India’s External Debt Rises

  • As per the RBI, India's external debt stood at $485.6 billion at the end of March 2016, recording an increase of $10.6 billion year-on-year.
  • The external debt to GDP ratio stood at 23.7 per cent at the end of March 2016.
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NATIONAL AFFAIRS

Successful Test-fire of Medium-range Ballistic Missile

  • India successfully test-fired a medium-range surface-to-air ballistic missile, developed jointly with Israel.
  • The missile, having a strike range of 70 km, is designed to defend against any airborne threat, apart from aircraft and helicopters, and can also intercept supersonic aircraft and missiles.
  • The missile has been jointly developed by India's DRDO, Israel Aerospace Industries and Israel's Administration for the Development of Weapons and Technological Infrastructure.
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