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Daily G.K. - Top Stories

11 Jul 2017

INTERNATIONAL AFFAIRS

Israel and Palestine Reach Power Deal

  • Israeli and Palestinian officials have signed a rare agreement to provide additional electricity to Palestinian residents of the northern West Bank. Under the deal, Israel’s national electric company will sell an additional 60 megawatts of electricity to the power-starved Jenin.
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ENVIRONMENT

Heat Wave Breaks 131 year-old Record

  • A high temperature record that stood for 131 years in downtown Los Angeles, US, has been broken as the region suffered a scorching heat last week.
  • The temperature downtown hit a record high of 98 Fahrenheit degrees (36.6 degrees Celsius), beating the former record of 95 Fahrenheit degrees (35 degrees Celsius) set in 1886.
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BUSINESS AND ECONOMY

Passenger Vehicle Sales Dip

  • Passenger vehicle sales declined 11% in June as dealers tried to sell existing stocks while avoiding picking up new stocks from carmakers ahead of the roll-out of GST.
  • Car sales dropped 11.24%, utility vehicle sales fell 11.25% and sales of vans slid 10.7%.

Grasim Sells GTBL Stake to Donear

  • Kumar Mangalam Birla-led Grasim Industries Limited agreed to sell its entire holding in its wholly-owned subsidiary Grasim Bhiwani Textiles Limited (GBTL) to Donear Group.
  • GBTL has been engaged in the manufacture and marketing of Polyester-Viscose Fabric. It has a revenue / EBITDA share of less than 1% in Grasim’s consolidated financials.

Amazon’s FDI Proposal

  • The government has approved American e-commerce major Amazon's proposed USD 500 million investment in retailing of food products in India.
  • The proposal was pending before the Foreign Investment Promotion Board (FIPB) which has been abolished now.
  • Hence, the Department of Industrial Policy and Promotion (DIPP) gives the green signal to the proposal.
  • As per the proposal, the company will open a wholly- owned subsidiary in India to carry out the business. It will stock food products and sell online.
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SPORTS

Federer’s 15th Wimbledon Quarter-final

  • Roger Federer kept his quest for a record eighth Wimbledon crown on track, dispatching Grigor Dimitrov.
  • The Swiss faces either Alexander Zverev or Milos Raonic in the quarter-final.
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NATIONAL AFFAIRS

Naresh Chandra Passes Away

  • Former Indian Ambassador to the US Naresh Chandra passed away. He was 82.
  • Chandra had served as the Cabinet Secretary from 1990-92 and was the Indian Ambassador to the US from 1996 to 2001.
  • He was awarded India's second highest civil awards, the Padma Vibhushan, in 2007.

Tejashwi Yadav Won't Resign

  • Bihar Deputy Chief Minister Tejashwi Yadav will not step down from his post, the Rashtriya Janata Dal (RJD) cleared after party meet.
  • According to reports, majority of MLAs in the meeting came out in support of Tejashwi.

Malabar Exercise in Bay of Bengal

  • India, Japan and the US began the Malabar Naval Exercise-2017 in the Bay of Bengal in a bid to achieve deeper military ties among the three nations.
  • Malabar is a joint exercise between India and US, which now has Japan as a permanent partner. Australia wanted to participate as an observer this year but was not included, following reservations by China.
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