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Daily G.K. - Top Stories

13 May 2018

INTERNATIONAL AFFAIRS

China Seeks to Reset Ties with Japan

After engaging with India in Wuhan, China is rebooting ties with Japan, as part of a larger pan-Asian initiative that appears to counter growing protectionism in the U.S.

Chinese Prime Minister concluded a major two-stage visit to Japan that included talks with Japanese Prime Minister Shinzo Abe, following a trilateral meeting, in which South Korean President Moon Jae-in also participated.

Sri Lankan President Visits Iran

As per reports, Sri Lanka's President Maithripala Sirisena left on a two-day visit to Iran, to improve trade relations and secure investment from the Islamic republic.

Mr. Sirisena will hold talks with his Iranian counterpart Hassan Rouhani on strengthening cooperation in the energy sector and will also seek Iranian investment.

Najib Cannot Leave Malaysia

Malaysia's former Prime Minister Najib Razak was hit with a travel ban. As speculation mounted, he was about to flee the country following his shock election loss, in a possible bid to avoid prosecution over a multi-billion-dollar scandal.

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BUSINESS AND ECONOMY

Finance Ministry Clears 3 FDI Proposals

The Finance Ministry has cleared three foreign direct investment (FDI) proposals worth Rs. 3,250 crore.

The proposals included that of Hindustan Infralog Pvt. Ltd. which sought approval for foreign investment from DP World Global Investment BV, Netherlands. The proposal of Hindustan Infralog Pvt. Ltd. will bring in FDI of Rs. 3,250 crore. The other two proposals will not result in any FDI.

JSW-led Consortium Bid to Acquire Monnet Ispat Approved

As per reports, the Competition Commission of India (CCI) has approved a bid by a consortium led by JSW Steel to acquire the bankrupt Monnet Ispat and Energy Ltd. (MIEL) in an insolvency auction. The committee of creditors (CoC) of Monnet Ispat and Energy, which is undergoing insolvency proceedings, had in April approved the resolution plan submitted by the only bidder, Sajjan Jindal's JSW Steel along with AION Capital.

UAE to Store 6 Million Barrels of Oil in India

According to Union Minister Dharmendra Pradhan, a seven-year agreement has been signed with UAE according to which the country will store six million barrels of oil in India.

It is in the interest of both the nations. UAE will make a presence in Indian markets and the oil will be stored safely in our nation.
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SCIENCE & TECHNOLOGY

SpaceX Launches Updated Falcon 9 Rocket

SpaceX`s updated version of Falcon 9 rocket "Block 5" lifted off in Florida, boosting Bangladesh`s first communications satellite into orbit. The "Block 5" booster, the final substantial upgrade to SpaceX`s Falcon 9 launch vehicle, was launched from NASA`s Kennedy Space Centre, starting its maiden flight.

Bangabandhu Satellite-1 is Bangladesh`s first geostationary communications satellite, expected to have a primary service area encompassing Bangladesh and the surrounding region including territorial waters in the Bay of Bengal.
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NATIONAL AFFAIRS

Rabri Becomes Leader of Opposition

Former Bihar Chief Minister and senior Rashtriya Janata Dal leader Rabri Devi was accorded the status of the Leader of Opposition in the State Legislative Council on the basis of her party's enhanced strength in the Upper House. The development followed the recent biennial elections to the Legislative Council after which the RJD's tally rose from seven to nine, required to get the status.
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