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Daily G.K. - Top Stories

05 Sep 2017

INTERNATIONAL AFFAIRS

Trade Threat Unacceptable

  • China criticised President Donald Trump’s threat to cut off U.S. trade with countries that deal with North Korea and rejected pressure to do more to halt the North’s nuclear development.
  • The threat was seen as a warning to China, North Korea’s main trading partner and only major ally.
  • Such an approach would be drastic if applied to China, from which the United States imports goods worth about $40 billion a month.

Presidential Election in Kenya

  • Kenya's electoral body set October 17 for a repeat of presidential election following the directive from the Supreme Court last week.
  • As per The Independent Electoral and Boundaries Commission (IEBC) Chairman Wafula Chebukati, there shall be no fresh nominations in the envisaged fresh election which was ordered by the Supreme Court that annulled the presidential elections held on August 8.

Lifting Limits on South Korea's Missiles

  • The United States and South Korea have agreed to remove the limits on South's missile payload capabilities after North Korea's sixth and most powerful nuclear test.
  • President Trump also provided his conceptual approval for the purchase of many billions of dollars' worth of military weapons and equipment from the United States by South Korea.
  • Both the leaders have also agreed on "maximizing the pressure on North Korea using all means at their disposal.
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BUSINESS AND ECONOMY

India’s Third Most Critical Financial Body

  • The Reserve Bank of India (RBI) added HDFC Bank to the list of systemically important banks, or banks that are considered too big to fail. The other banks on the list are: State Bank of India (SBI) and ICICI Bank.
  • Since 2015, the central bank has been identifying banks whose failure would impact the whole financial system. These banks are subject to more rigorous regulation and capital requirement.
  • HDFC Bank's inclusion in this category means that the bank would need to adhere to higher capital requirements.

DBS Bank Gets RBI Nod

  • Singapore-based DBS Bank received in-principle approval from the Reserve Bank of India (RBI) to convert its India operations into a locally incorporated, wholly-owned subsidiary (WOS).
  • DBS was the first foreign lender to seek RBI approval for local incorporation in 2014 after the central bank revised the guidelines for foreign banks.

ONGC to Bid for Israel Oil and Gas Blocks

  • Indian state-run Oil and Natural Gas Corp plans to bid for Israeli offshore oil and gas exploration blocks.
  • India and Israel have deep defence ties but Modi and his right wing ruling group are pushing to expand the relationship into other sectors such as energy and technology.
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SCIENCE & TECHNOLOGY

Smartwatches to Record Your Every Move

  • Scientists have invented a new algorithm that empowers smartwatches to detect and record your every move, without being told beforehand what to look for.
  • Current smartwatches can recognise a limited number of particular activities, including yoga and running, but these are programmed in advance.
  • This new method, scheduled to be presented at International Symposium on Wearable Computers to be held in Hawaii from September 11-15 enables the technology to discover activities as they happen.
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SPORTS

IPL Media Rights Auction

  • The Board of Control for Cricket in India (BCCI) bagged a whopping sum of INR 16,347.5 crore (US$ 2.55 billion) for its IPL television and digital rights from Star India, which came out on the top after submitting the highest consolidated offer for the worldwide rights for the next five years (2018 to 2022).
  • Star and Sony Pictures Network India were the only two biddiers deemed eligible by the BCCI for IPL rights after a total of 24 bid documents were purchased, though only 14 bids were received.
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NATIONAL AFFAIRS

India's Diplomatic Win at BRICS

  • India's big diplomatic win came on Monday with BRICS (Brazil, Russia, India, China, South Africa) nations unanimously condemning the violence carried out by terrorist groups, including Lashkar-e-Taiba, Jaish-e-Mohammad based out of Pakistan.
  • This declaration is likely to have major ramifications on China-Pakistan's relationship.

BRO Builds Road in District Bordering China

  • The Border Roads Organization (BRO) has constructed a 71 km strategic road in remote Upper Subansiri district of Arunachal Pradesh bordering China that will benefit several villages located there.
  • Project Arunank of the BRO in August last established connectivity between Sarli and Huri by completing the 71.30 km road which would not only provide great relief to the people of Pipa, Damin, Huri and other villages but also facilitate the construction of the new Huri - Taliha road connecting even more villages and contributing towards greater development of the state.
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