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Daily G.K. - Top Stories

18 Jun 2020

INTERNATIONAL AFFAIRS

World Competitiveness Index 2020

  • According to the 32nd edition of edition of World Competitiveness Index 2020, which ranked performance of 63 economies across the globe, prepared by Switzerland-based International Institute for Management and Development (IMD)'s World Competitiveness Center (WCC), the Indian economy remained at 43rd position this year. While Singapore continues to occupy the first place in the list due to its strong economic performance comes from robust international trade and investment, employment and labor market measures.
  • Some of India's traditional weaknesses in terms of competitive power, such as weak infrastructure and inadequate investment in education, still persist.
  • India ranks next to China (20th rank) in the BRICS (Brazil, Russia, India, China and South Africa) nations, where Russia ranks 50th, Brazil 56th and South Africa 59th.
  • Even though India's Position remains unchanged in the 2020 list, it's performance has improved in areas such as long-term employment growth, current account balances, long-term employment growth, high technology exports, foreign exchange reserves, public spending on education, political stability and total productivity.

Myanmar Govt. Forms Tribunal to Probe China-funded City Project

  • Myanmar government's discomfort with China is on the rise. After Myanmar's auditor general in a startling announcement cautioned government officials about continued reliance on Chinese loans, the Myanmar government has formed a tribunal to investigate irregularities surrounding a controversial China-backed city development project near the Thai border in Karen State.
  • The project has been criticised due to a lack of transparency, land confiscations, confusion over the scale of construction and the growing influx of Chinese money as well as suspected illicit activity and local concerns about the social impacts of casino businesses.
  • The planned mega resort and city expansion project is controlled by the Karen State Border Guard Force, a Myanmar military-backed armed group led by Colonel Chit Thu and formerly known as the Democratic Karen Buddhist Army (DKBA).

Bill to Punish China over Crackdown on Uyghur Muslims

  • US President Donald Trump has signed into law a legislation that condemns the gross human rights violations of Uyghur minority groups in China's restive Muslim-majority Xinjiang region, paving the way for imposing sanctions against senior Chinese officials.
  • The Uyghur Human Rights Policy Act, 2020 holds accountable the perpetrators of human rights violations and abuses such as the systematic use of indoctrination camps, forced labour and intrusive surveillance to eradicate the ethnic identity and religious beliefs of Uyghurs and other minorities in China.
  • However, a section of the Act purports to limit his discretion to terminate inadmissibility sanctions under the Act.
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BUSINESS AND ECONOMY

RBI to Replace NHB Rules with its Own Set

  • As the new regulator of housing finance companies (HFCs), the Reserve Bank of India (RBI) proposed to modify the rules governing these firms.
  • The RBI took over the powers to regulate HFCs from the National Housing Bank (NHB) in August 2019.
  • In the NHB regulations, according to the RBI, there was no formal definition of 'housing finance'. In a draft released on its website, the central bank set a formal definition for the same.
  • Housing finance would now mean "financing, for purchase/ construction/ reconstruction/ renovation/ repairs of residential dwelling unit.
  • All other loans, including those given for furnishing dwelling units, loans given against mortgage of property for any purpose other than buying/ construction of a new dwelling unit or renovation of the existing dwelling unit, will be treated as non housing loans.

Great Wall Motor Signs MoU with Maharashtra

  • Chinese auto major Great Wall Motor (GWM) signed a memorandum of understanding with the Maharashtra government for its manufacturing facility in the state which it had acquired from General Motors (GM).
  • The company has committed an investment of $1 billion (about Rs. 7,600 crore) in India in a phased manner with estimated employment for over 3,000 people.
  • This would be a highly automated plant in Talegaon (near Pune) with advanced robotics technology integrated into many of the production processes.
  • In January this year, GWM had signed an agreement to acquire the plant from GM.

India 9th Largest Recipient of FDI in 2019

  • In accordance with the "World Investment Report 2020" by United Nation's (UN) trade body, the UN Conference on Trade and Development (UNCTAD), India has become the 9th largest recipient of foreign direct investment (FDI) in 2019 after receiving $51 billion last year.
  • This is an increase of 20% from the 42 billion dollars of FDI received in 2018, when India ranked 12 among the top 20 host economies in the world.
  • India is the largest South Asian recipient of FDI in 2019.
  • The top three contries in the list are: the US ($246 bn), China ($141 bn) and Singapore ($92 bn).
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SPORTS

Sports Ministry to Establish Khelo India Centres of Excellence

  • The Sports Ministry has decided to set up Khelo India State Centres of Excellence (KISCE) under Khelo India.
  • While KISCE would be identified in every state, the first phase of the scheme will see eight state-owned facilities being upgraded. The eight have been selected on the basis of facilities available in priority sports, infrastructure and past champions.
  • The ministry said that the process of selection and shortlisting of venues to be developed into world-class facilities began in October 2019 but only 15 proposals were received for the same. Interestingly, the northern and western parts of the country including the national capital have not found favour in the first phase. While four of these are in the North East, three are in south India. The eighth one would be at the Kalinga Stadium, Bhubaneswar.
  • The Khelo India State Centre of Excellence are being established to strengthen India's pursuit for excellence at the Olympics. Our effort is to scale up the best sporting facilities available in each state in India into world-class academies.

Fourth Asian Youth Para Games to be Held in Bahrain

  • The Asian Paralympic Committee (APC) announced that the 4th Asian Youth Para Games will take place in Bahrain from December (1-10) 2021. The event will be organised in partnership with the National Paralympic Committee (NPC) of Bahrain with the support of the local government.
  • This is the 1st time Bahrain will host a big para-sport event.
  • The competition will take place across numerous venues in Khalifa Sports City, a multi-use stadium in Isa Town, and Isa Sports City.
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NATIONAL AFFAIRS

India Wins 184 out 192 Votes to Enter UN Security Council

  • India scored a major diplomatic victory to enter the non-permanent category of the UN Security Council when elections were held for the five non-permanent members on Wednesday. India won 184 votes out of 192 valid votes cast.
  • Previously, India has been elected as a non-permanent member of the Council for the years 1950—1951, 1967—1968, 1972—1973, 1977—1978, 1984—1985, 1991—1992 and 2011—2012.
  • Ireland, Mexico and Norway were also elected as non-permanent members of the UN Security Council.
  • India's term will begin from January 2021.
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PERSONS IN NEWS

D. K. Jain Gets One Year Extension

  • Former Supreme Court judge D. K. Jain will continue as BCCI's ethics officer and ombudsman after getting a one-year extension from the cricket Board.
  • Jain was appointed by the Supreme Court in February 2019 as BCCI's first ever ombudsman. He was later given the additional role of ethics officer. His term had ended on February 29 this year (2020) but his contract was renewed only last week.
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DAYS AND EVENTS

Autistic Pride Day

  • Autistic Pride Day, originally an Aspies for Freedom initiative, is a pride celebration for autistic people held on June 18 each year. Autistic pride recognises the importance of pride for autistic people and its role in bringing about positive changes in the broader society.
  • Autistic Pride Day was first celebrated in 2005 by Aspies for Freedom and it quickly became a global event which is celebrated widely online and offline.
  • The theme for Austic Pride Day 2020 is 'Respecting Rights Of People With Autism'.

Karnataka Observes Mask Day

  • Karnataka observe 18th June 2020, as "Mask Day" to create awareness to the general public on the importance of wearing a mask, using sanitisers, washing hands and maintaining social distancing against COVID-19.
  • The State government has organised a walk from Vidhana Soudha to Cubbon Park to create awareness.
  • The march was conducted at district, taluk, panchayat and ward levels following the national directives to control the spread of COVID-19.
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AWARDS AND HONOURS

Indian Startups Part of the World Economic Forum's List of Technology Pioneers of 2020

  • Two Indian startups Stellapps and Zestmoney were featured in the List of Technology Pioneers of 2020, released by the World Economic Forum (WEF) which consists of pioneers addressing the global issues with advanced technologies.
  • More than 25 industries in the list are led by females which is twice the industry average.
View Month Wise

BOOKS AND AUTHORS

Kazuo Ishiguro's New Novel 'Klara and the Sun' to be Released

  • Nobel Prize-winning author Kazuo Ishiguro will come out with his new novel 'Klara and the Sun' next March.
  • This is the first novel by Ishiguro since he was awarded the Nobel Prize in Literature and will be published by Faber & Faber in the UK, Alfred A. Knopf in the U.S. and Knopf in Canada in March 2021.
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