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Daily G.K. - Top Stories

11 May 2017

INTERNATIONAL AFFAIRS

SoftBank Suffers Loss in India

  • Japanese telecom and Internet giant SoftBank Group (SBG) has reported a valuation loss of $1.4 billion on its two major investments in India.
  • SoftBank is the largest investor in cab-hailing app Ola and e-commerce marketplace Snapdeal.

No Other Way for Taiwan

  • According to China, Taiwan has no other way to "end the deadlock" between them than to accept the One-China policy.
  • Taiwan authorities should accept the 1992 Consensus which embodies the One-China principle to break the current cross- Strait communication deadlock.
  • The key to ending the deadlock is for Taiwan to return to the common fundamental political basis.
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ENVIRONMENT

Mammoth Bird-like Dinosaur Found

  • Scientists have found a new species of giant, bird-like dinosaur in China.
  • It measures about eight metres and weighing up to three tonnes, the new species named Beibeilong sinensis or baby dragon from China, lived about 90 million years ago during the Cretaceous Period.
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BUSINESS AND ECONOMY

Novelis Sells 50% in S. Korea Unit

  • Aditya Birla Group’s Novelis Inc., a leader in aluminum rolling and recycling, has entered into a joint venture agreement with Japan’s Kobe Steel by deciding to sell 50% of its ownership interest in its Ulsan, South Korea facility, to Kobe for $315 million.
  • Kobe is a leading producer of aluminum-based products in Japan. The joint venture will be named Ulsan Aluminum, Ltd.
  • Novelis and Kobe Steel will jointly own and operate the Ulsan facility, with both companies remaining responsible for its metal supply and commercial relationships.

Tech Mahindra to Lay-off Employees

  • Tech Mahindra is set to lay-off about 1,500 employees, or close to 1.2% of its workforce, following the footsteps of bigger rivals such as Infosys, Wipro and Cognizant, all of which are in the process of doing big lay-offs as protectionist policies in the US and new technologies shake up the $150-billion Indian IT sector.
  • Tech Mahindra, the country's fifth largest IT services provider, had 117,095 employees across 90 countries till the third quarter, which ended December 31.

Pininfarina Inks Pact with Khodro

  • Mahindra group-owned automotive design firm Pininfarina announced a 70 million euros pact with Iran's first automaker Iran Khodro for vehicle development.
  • Under the agreement, Pininfarina will develop a modular automotive platform that can house at least four different vehicles, and the first passenger car in mid segment.
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SPORTS

Asian Wrestling Championship

  • Harpreet Singh fetched the first medal for India on the opening day of the Asian Wrestling Championship when he bagged a bronze in the Greco-Roman 80 kilogram category.
  • Harpreet edged out Na Junjie of China 3-2 in the play-off for the bronze medal.
  • South Korea emerged as the most successful nation on the opening day with a tally of five medals including one gold, three silver and a bronze.
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NATIONAL AFFAIRS

Sanjay Mitra to be Next Defence Secretary

  • As per reports, Road and Transport Secretary Sanjay Mitra will be the next Defence Secretary.
  • Mitra, a 1982 batch IAS officer of West Bengal cadre, will succeed G. Mohan Kumar whose tenure ends later this month.

Roadmap for Uttar Pradesh's Development

  • A joint working group comprising top functionaries of the NITI Aayog and Yogi Adityanath government will prepare a roadmap to ensure all-round development of Uttar Pradesh in the next 15 days.
  • The plan would also aim to raise the growth rate of the state and will be presented before the Aayog.
  • Some of the presentations made by officials of NITI Aayog were on transforming UP, agricultural growth and development for economic transformation, ease of doing business and start up programme, an analysis of rural development, improving health outcomes, the challenge of malnutrition, education outcomes, drinking water and sanitation etc.
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