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Daily G.K. - Top Stories

21 Feb 2017

INTERNATIONAL AFFAIRS

Tehran Bans Drones

  • The Iranian military has banned the unauthorized use of drones in the capital Tehran, after several security scares caused by unpiloted aircrafts.
  • The general staff of the armed forces has issued an edict which means drones may only be used if they have been given permits from one of two government ministries or the state broadcaster.

European Union Asks India to Extend Trade Pacts

  • The European Union has pressed India to extend by six months its bilateral investment pacts with several EU-member countries which are expiring soon, the absence of the treaties could adversely impact trade ties and FTA talks.
  • India's existing trade and investment pacts with The Netherlands have come to an end in November while similar pacts with several other EU countries will expire in the coming months.
  • As per Orden, expiry of the pacts will make it difficult for the European countries to go for fresh investments in India, adding the EU want India to first give the extension to the pacts and then move ahead with the FTA which is known as EU-India Broad-based Trade and Investment Agreement (BTIA).
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BUSINESS AND ECONOMY

TCS Clears Share Buy-back

  • Tata Consultancy Services (TCS) approved a buy-back of Rs. 16,000 crore worth of shares in a bid to improve returns to its shareholders.
  • The TCS board approved the buy-back of up to 5.61 crore equity shares of the company, reflecting 2.85% of the total paid-up equity share capital.
  • The buy-back decision follows close on the heels of competitor Cognizant Technology Solutions Corp.’s decision to opt for a $3.4 billion plan that includes buy-backs and dividends.

Interoperable Payment Acceptance Solution

  • BharatQR code, the world's first interoperable payment acceptance solution, was launched as part of efforts to move towards less-cash economy.
  • Developed by National Payments Corporation of India, MasterCard, and Visa, BharatQR code would require merchants to only display one QR code instead of multiple ones.
  • Devised on the direction set by the Reserve Bank of India (RBI) in September last year, it will make payments seamless for buyers as they just have to "scan to pay" for transactions instead of swiping their credit/debit cards.
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SPORTS

Virat Kohli Signs Rs. 100-crore Endorsement Deal

  • Virat Kohli has now become the first Indian sportsperson to sign Rs. 100-crore endorsement deal with a single brand. Kohli struck a massive eight-year deal with sports & lifestyle brand Puma.
  • With his new deal, Kohli has followed into the footsteps of other great sports personalities like Jamaican sprinters Usain Bolt and Asafa Powell, and footballers Thierry Henry and Sergio Aguero as Puma brand ambassador.
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NATIONAL AFFAIRS

India is World's Largest Arms Importer

  • According to Stockholm-based think-tank, India was the world's largest importer of major arms in the last five years and its overseas procurement was far greater than that of China and Pakistan.
  • India was the world's largest importer of major arms in 2012 to16, accounting for 13 per cent of the global total.
  • As per the report, China was increasingly able to substitute arms imports with indigenous products, India remained dependent on weapons technology from Russia, the US, Europe, Israel and South Korea.
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