Current Affairs Global – 2 September 2013

1. China’s factory activity expanded at the fastest pace in more than a year in August due to increased new orders. The purchasing managers’ index (PMI), published by the National Bureau of Statistics, jumped to 51.0 in August compared to 50.3 in July. Any reading higher than 50 indicates growth in the sector. This data raises hope that growth is coming back for the world’s second largest economy.

Current Affairs India– 2 September 2013

1. India Air Force’s has formally inducted its biggest 70-tonne C-17 heavy-lift transport aircraft into service at the Hindon Air Base today. Defence Minister A K Antony was present for the ceremony. It will increase India Air Force’s capability to swiftly move troops and tanks to battle fronts. The C-17 Globemaster III aircraft has been procured from the US under a deal expected to be over Rs 20,000 crore. The C-17, with a capability to carry around 70 tonnes of load and around 150 fully geared troops, will replace the Russian IL-76 as the biggest aircraft in the IAF inventory till now.

2. Senior IAS officer G Mohan Kumar has been appointed as Secretary in Ministry of Steel. G Mohan Kumar, a 1979 batch IAS officer of Odisha cadre, is presently Special Secretary in Ministry of Water resources. He will succeed D R S Chaudhary who superannuated recently.

3. India and South Korea have decided to further expand and deepen the Strategic Partnership and agreed to step up cooperation in the spheres of maritime and cyber security. The decision came during the 3rd India – Republic of Korea Foreign Policy and Security Dialogue held in Seoul today.

4. Indian factory activity contracts in August due to prolonged slowdown, for the first time in more than 4 years. The HSBC Purchasing Managers’ Index (PMI) for Manufacturing sector, compiled by Markit, dropped to 48.5 in August compared to 50.1 in July, the lowest reading since March 2009. Any reading lower than 50 indicates contraction in the sector.

5. Saina Nehwal-led Hyderabad Hotshots won the inaugural Indian Badminton League after defeating Awadhe Warriors by 3-1 in the finals at the NSCI Stadium on Saturday. Saina Nehwal helped Hyderabad hotshots on level terms after defeating PV Sindhu in straight games (21-15, 21-7) in 35 minutes after K Srikanth gave the Warriors an unexpected 1-0 lead by stunningtop-20 rival S Tanongsak in straight games, 21-12, 21-20. Saina Nehwal was awarded as the player of the tournament, because of her undefeated feat in the complete tournament.

6. South Korea beat India 4-3 in the Asia Cup Hockey final at Ipoh, Malaysia yesterday to win the cup. From Asian continent, India, South Korea and Malaysia have qualified for the Hockey World Cup to be held at The Hague, Netherlands. Pakistan failed to qualify for the first time since the tournament’s introduction in 1971 after they were defeated by South Korea in the semi-final even if they defeated Malaysia by 3-1 to win bronze in Asia Cup.

7. India’s Bhuvana Kalva won her maiden 10000 US dollars ITF women singles title after defeating sixth-seeded Akari Inoue of Japan by 6-4, 7-5 in the final match at the Delhi Lawn Tennis Association complex.

8. India has managed to retain their third spot among T20 teams as per the latest ICC T20 raking published yesterday. India’s Virat Kohli has held on to his sixth spot in the ICC rankings for Twenty20 batsmen, best by any Indian batsman. The ICC T20 Championship table is headed by Sri Lanka and followed by Pakistan.

Current Affairs Global – 3 September 2013

Ronald Coase, the British-born US economist who was awarded the Nobel Prize in 1991, passed away yesterday in Chicago. He was 102. He was famed for his 1960 article, “The Problem of Social Cost,” was the basis for the famous Coase Theorem. He was also known for the Coase conjecture, which held that monopolists selling durable goods — products like cars and refrigerators that are not replaced often — compete with themselves over time and so must sell at a lower price.

Current Affairs India – 3 September 2013

1. Indian Parliament gave its nod to the landmark Food Security Bill yesterday which seeks to provide highly subsidised foodgrains to the country’s two-third population as a right. It was passed is Rajya Sabha and now needs only Presidential assent to become a historic law. The bill will guarantee 5 kg of rice, wheat and coarse cereals per month per person at Rs 3, 2, 1, respectively.

2. Prime Minister Dr Manmohan Singh is leaving tomorrow for St.Petersburg, Russia to attend the 8th G-20 Summit. The two-day summit will be held on Thursday and Friday in which ministers of finance and ministers of labour from G20 member states will meet along with G20 country leaders. The focal point of the summit could be on how to minimize the external impact when major developed countries gradually phase out fiscal stimulus causing volatile capital flows in emerging markets and putting pressures on their currencies.

3. Poet Haraprasad Das was conferred the Moortidevi Award for 2012 for ‘Vamsha, a poetic recreation of the Mahabharata in contemporary idiom, which has been hailed as a post-modern masterpiece. Haraprasad Das, who has eleven works of poetry, four of prose, three translations and one piece of fiction to his credit, was given the award at Shastri Bhavan by the Moortidevi Award Selection Board, chaired by oil minister Veerappa Moily.

Current Affairs Global – 4 September 2013

1. Switzerland retained the no 1 rank for its competitiveness for fifth year in a row while Singapore and Finland remain in second and third positions respectively, as per the annual Global Competitiveness Report 2013-2014.Germany moves up two places at 4^th position and United States has reversed its four-year downward trend to occupy 5th position. Two other Asian economies, Hong Kong SAR (7th) and Japan (9th), also feature in the top ten of the rankings of 148 economies in the same list.

2. Global tech giant Google said the next version of Android will be called “KitKat” in keeping with its penchant for giving tasty names to its mobile operating system software. The list of Android software names over the years includes Cupcake, Donut, Ice Cream Sandwich, and Jelly Bean.

3. The euro zone economy came out from its most prolonged recession during the second quarter of 2013 after it registered 0.3% GDP growth for the same quarter compared to previous quarter. The euro zone came back to growth path after six consecutive quarters of contraction due to strong export, higher spending and higher corporate investment.

Current Affairs India – 4 September 2013

1. Raghuram Rajan, a former chief economist with the International Monetary Fund (IMF) who was economic advisor to the finance ministry, has joined as the new RBI Governor today. He succeeds Duvvuri Subbarao as the 23rd Governor of the Reserve Bank of India (RBI). He was also acclaimed for predicting the 2008 global financial crisis. In 2005, he had delivered a lecture critical of the financial sector, arguing that a financial disaster might be looming.

2. The Lok Sabha has passed the Pension Fund Regulatory and Develpment Authority Bill, 2011 today. During voting, 174 members voted in favour and 33 against the bill. Earlier replying to the debate, Finance Minister, P. Chidambaram said that the new Pension Scheme is mandatory for all Central Government employees who joined service on or after 1st January, 2004.

3. Shiromani Akali Dal (B) president and deputy chief minister Sukhbir Singh Badal was unanimously re-elected as party president consecutively for the second time yesterday. The chief minister Parkash Singh Badal was also once again unanimously chosen as patron of the party.

4. India has slipped to 60th position in terms of its competitiveness globally, while Switzerland has retained its top rank, as per the annual Global Competitiveness Report 2013-2014. This is India’s lowest ever rank in the competitive index which is 31 ranks lower than rank obtained by its neighbor China.

5. Indian services sector activityshrank in August at its quickest pace in last four years as new business dried up. The HSBC Services Purchasing Managers’ Index (PMI), compiled by Markit, dropped to 47.6 in August, the weakest since April 2009, compared to 47.9 in July. Any reading lower than 50 indicates contraction in the sector. Services sector has more than 65% weight in India’s overall economic activity; any slowdown in services sector will severely affect GDP number for the current quarter.

6. Private sector insurer Bajaj Allianz has appointed Anuj Agarwal as the Managing Director and officiating Chief Executive Officer today. He succeeds V Philip, who is moving to an Allianz Group company. The appointment has been approved by the Insurance Regulatory and Development Authority.

Current Affairs India – 4 September 2013

2. The Lok Sabha has passed the Pension Fund Regulatory and Develpment Authority Bill, 2011 today. During voting, 174 members voted in favour and 33 against the bill. Earlier replying to the debate, Finance Minister, P. Chidambaram said that the new Pension Scheme is mandatory for all Central Government employees who joined service on or after 1st January, 2004.

3. Shiromani Akali Dal (B) president and deputy chief minister Sukhbir Singh Badal was unanimously re-elected as party president consecutively for the second time yesterday. The chief minister Parkash Singh Badal was also once again unanimously chosen as patron of the party.

4. India has slipped to 60th position in terms of its competitiveness globally, while Switzerland has retained its top rank, as per the annual Global Competitiveness Report 2013-2014. This is India’s lowest ever rank in the competitive index which is 31 ranks lower than rank obtained by its neighbor China.

6. Private sector insurer Bajaj Allianz has appointed Anuj Agarwal as the Managing Director and officiating Chief Executive Officer today. He succeeds V Philip, who is moving to an Allianz Group company. The appointment has been approved by the Insurance Regulatory and Development Authority.

Current Affairs India – 4 September 2013

Current Affairs India – 5 September 2013

1. Today (5^th September) is observed as the Teacher’s Day across India. The day is celebrated on birthday of India’s first vice president and second President, Dr. Sarvepalli Radhakrishnan. On this day, the President of India, Pranab Mukherjee also presented the National Awards to meritorious teachers from all over India.

2. The Rajya Sabha has passed the constitutional amendment bill today that seeks to create a judicial appointments commission for making recommendations on appointments in the higher judiciary. The bill was passed after the Bharatiya Janata Party (BJP) and its allies staged a walkout.

3. Mrs. Deepak Sandhu took over as the Chief Information Commissioner today and replaced Satyanand Mishra. She is the first woman Chief Information Commissioner of the country. She was administered the oath of office by President Pranab Mukherjee at the Rashtrapti Bhavan.

4. Prime Minister Manmohan Singh has appointed Rakesh Sood, India’s former Ambassador to Nepal, Afghanistan and France and the country’s first Ambassador in charge of Disarmament in Geneva, as his new Special Envoy for Disarmament and Non-Proliferation.

5. The Union Health Ministry has announced former Indian cricket team captain Rahul Dravid as brand ambassador for its National Tobacco Control Campaign. India has been committed towards strengthening its national tobacco control efforts as well as contributes towards tobacco control and this is one step towards that.

6. Noted Indian homeopath Mukesh Batra has been honoured with Asia’s “most promising leader” award at a recent function in Dubai in the United Arab Emirates (UAE) for pioneering work in healthcare, using natural medicine.

7. ICICI Bank, India’s largest private sector bank, launched its ‘Branch on Wheels’ to offer basic banking services in remote areas which have so far been devoid of banking facilities. The mobile branch, which also has an ATM, will offer basic banking products and services such as savings accounts, loans, cash deposit/withdrawal, account balance enquiries, statement printing and funds transfer/DD/PO collection etc. The mobile branch will be operated at a specific time in pre-identified, unbanked villages through a van that will be stationed at specified locations.

8. Global ratings agency Moody’s Investors Service has downgraded the subordinated debt (subdebt) and junior subordinated debt ratings of 11 Indian banks. The 11 banks are State Bank of India, Bank of Baroda, Bank of India, Canara Bank, IDBI Bank, Indian Overseas Bank, Syndicate Bank, Union Bank of India and top three private banks ICICI Bank, HDFC Bank and Axis Bank.

9. In a big setback for Indian athletes, the International Olympic Committee ( IOC) has decided to keep India Olympic Association (IOA) suspended from the international Olympic events. Indian athletes will not be able to compete under the tricolour in any Olympic-sponsored event until this ban is revoked. The IOC has made it very clear that they will revoke the ban only if IOA ensures that none who faces charges in a criminal or corruption can contest its elections. IOA’s secretary-general Lalit Bhanot faces corruption charges in a 2010 Commonwealth Games-related case and that’s the main reason IOC has banned IOA in December 2012.

Current Affairs Global – 6 September 2013

1. Famous Hollywood actress Angelina Jolie will receive an Honorary Oscar in recognition of her humanitarian work, the Academy of Motion Picture Arts and Sciences announced yesterday. She was appointed as a special envoy to the United Nations’ High Commissioner for Refugees in 2012 and has also travelled widely to promote other causes such as preventing violence against women. Honorary Oscars will also be presented to actress Angela Lansbury, comedian Steve Martin and Italian production designer Piero Tosi, in honour of their lifetime achievements at a ceremony on 16^th November.

2. The US economy added 169,000 new jobs in August which is slightly lower than expected by analysts. The unemployment rate dropped to 7.3% in August from 7.4% in July, the lowest level since December 2008. Lower unemployment rate is a good sign for the world’s largest economy and is expected to boost consumer confidence and consumer

3. Leaders of the BRICS group of nations – Brazil, Russia, India, China and South Africa – have announced that they will set up a USD 100 billion fund to guard against financial shocks. This program will help the emerging economies when Federal Reserve of USA will withdraw its massive stimulus programs to boost economy.

Current Affairs India – 6 September 2013

1. India and Japan have decided to expand their currency swap arrangement from USD 15 billion to USD 50 billion to strengthen bilateral financial cooperation and stabilize the global financial markets. The decision to expand bilateral currency swap was taken during a meeting between Prime Minister Manmohan and Japanese Deputy Prime Minister Taro Aso on the sidelines of the G-20 summit. This will help India fight with the current domestic currency crisis.

2. India’s Gross direct taxes, which include personal income tax, corporate tax, securities transaction tax and wealth tax, collection grew by over 14% to Rs 1.88 lakh crore in the first five months (April-August) of this fiscal year 2013-14 compared to Rs 1.64 lakh crore in the same period last fiscal year. Corporate tax collection grew by 12% to Rs 1.08 lakh crore due to slowdown in economic activity and personal income tax collection jumped by 19% to Rs 78,187 lakh crore during the same period.

3. Indian Police Service (IPS) Sanjeev Dayal has been appointed as head of the Indo-Tibetan Border Police (ITBP) force. Union home minister Sushilkumar Shinde said that his ministry had approved the appointment.

Current Affairs Global – 8 September 2013

1. International Literacy Day was observed today (8^th September) across the world. International Literacy Day was designated by UNESCO in 1965 and this day was first celebrated on 8^th September 1966. International Literacy day is observed every year on today’s date to raise people’s awareness and concern for literacy issues in the world.

2. Tokyowon the right to host the Olympic Games in 2020 yesterday. This the second time Japan won the right to host the Olympic Games; overcoming fears about radiation from the stricken Fukushima nuclear plant. Members of the International Olympic Committee (IOC) meeting in Buenos Aires chose the Tokyo over Istanbul and Madrid.

3. Australia’s conservative leader Tony Abbott will form the government after securing 82 seats and absolute majority in the National elections held yesterday and he will be sworn in as the 28th prime minister of Australia.He defeated Prime Minister Kevin Rudd. The Abbott-led Coalition is a formal alliance of broadly centre-right parties. Abbott is currently the Leader of the Opposition and the leader of the Liberal Party.

4. Red Bull’s Sebastian Vettel won Italy Grand Prix held today. This isVettel’s sixth win of the year which helped him to extend his lead to 53 points. Ferrari’s Fernando Alonso and Red Bull’s Mark Webber stood second and third respectively in the same race.

Current Affairs India – 8 September 2013

1. Indian Parliament has passed the Prohibition of Employment as Manual Scavengers and their Rehabilitation Bill-2013 with the Rajya Sabha approving it by a voice vote. The Lok Sabha had passed it earlier. The Bill prohibits employment of manual scavengers, manual cleaning of sewers and septic tanks without protective equipment and construction of insanitary latrines.

2. Parliament has passed the Rajiv Gandhi National Aviation University Bill 2013 with the Rajya Sabha approving it by a voice vote today. The Lok Sabha had passed it yesterday.The bill is aimed at setting up the first-ever national aviation university in the country.

3. RBI has issued a notification saying that swap facility will be available to scheduled commercial banks for fresh foreign currency non-resident bank – FCNR(B) deposits mobilized for a minimum tenor of three years. Although the swap window will be operated on a daily basis on all working days in Mumbai, a particular bank can avail of the swap facility only once in a week.

4. The Foreign Investment Promotion Board has cleared gold-loan company Muthoot Finance’s proposal to set up white-label ATMs in the country.Muthoot, which had received the RBI nod for the plan in June, is expected to set up its first batch of ATMs next month in one of the southern States.

5. Reliance Communications Ltd has appointed Deepak Khanna as CEO, India Enterprise. Khanna, an MBA from the Symbiosis Institute of Management Studies, Pune, has a varied experience of 25 years including 15 years of experience in Telecom Sector.

6. Toyota Kirloskar Motor Vice-Chairman Vikram Kirloskar has been elected as the new President of the Society of Indian Automobile Manufacturers (SIAM). At the same time, Ashok Leyland Managing Director Vinod Dasari has been elected as the new Vice-President.

Current Affairs Global – 9 September 2013

1. Indian American Kavita Shukla won INDEX design award for her innovative design, FreshPaper that helps keep food fresh for a longer period, last week. The 500,000 Euro award, recognising the best of innovations addressing problems facing the world, is given biennially in Copenhagen. Shukla is among the five winners in categories like Body, Home, Work, Play and Community; Her design won in the Home category and impressed the jury with its simplicity and cost-effectiveness.

2. World number one Serena Williams won her fifth US Open title, and second in a row, by defeating second-ranked Victoria Azarenka by 7-5, 6-7 (6/8), 6-1 yesterday. This was also her 17th career Grand Slam crown and this win puts her on a par with Roger Federer among contemporary players of both genders and brings her within one title of Martina Navratilova and Chris Evert, the fourth most successful women of all-time.

3. The International Olympic Committee (IOC) has announced that wrestling to be the part of Olympics in the 2020 and 2024 Games as an additional sport. With this the sport is back in the Olympics after seven months, earlier it was dropped by the IOC executive board in February this year.

4. As per the latest ICC ODI ranking, South Africa’s Hashim Amla retained the top position followed by AB Devilliers among the batsmen. India’s Virat Kohli is at number four while skipper Dhoni is at number seven. Among the bowlers, Ravindra Jadeja tops the list of ODI bowlers along with Sunil Narine and is followed by Pakistan’s Saedd Ajmal. In the All-rounders category, Ravindra Jadeja is placed third after Pakistan’s Mohammed Hafeez and Bangladesh’s Sakib ul Hassan.

7th India-Laos Joint Commission Meeting on Bilateral Cooperation

The 7th India-Lao Joint Commission Meeting on bilateral cooperation was held in Vientiane on 9 September 2013. The JMC was held during External Affairs Minister Salman Khurshid's ongoing visit to Lao PDR (Laos) to participate in the 7th India-Lao Joint Commission Meeting (JMC) on Bilateral Cooperation.

An Agreement under Line of Credit for four Irrigation Projects in three provinces in the Lao PDR for 30.94 million US dollars was signed and conversion of another Line of Credit to substitute the Nam Boun-2 hydro power plant by the extension of transmission lines to Thasala-Laksao amounting to 35.25 million US dollars was approved. The projects will contribute to socio-economicdevelopment in Lao PDR.

During the JCM, (Joint Commission Meeting) both Ministers expressed satisfaction with the development in bilateral relations and noted that close cooperation and partnership between the two countries haveexpanded rapidly for mutual benefit, in recent years. India reiterated its preparedness to continue to provide assistance to the areas of water management and irrigation, energy generation and transmission and capacity building. It was recognized that our soft credit and grant projects have improved the visibility of India and Indian products in Lao.

The two nations identified agriculture, defence, ICT, culture, education, health, trade and investment promotion, mining as priority areas of cooperation between the two countries that would give furtherimpetus to bilateral relations. A number of new initiatives were taken to promote people-to-people contacts, training and scholarship opportunities and expansion of private sector participation in trade andinvestment, as well as in health and education.

India and Lao PDR also exchanged views on a wide range of bilateral, regional and international issues of mutual interest. They agreed to strengthen coordination on ASEAN and multilateral issues. Lao hasextended financial support to the Nalanda University, which is being developed as a centre of international excellence. Lao reiterated its support to India on UN and other multilateral issues.

The 2nd Roundtable of the ASEAN-India Network of Think Tanks was inaugurated on 10 September 2013 during the meeting.

Who: 7 India-Laos Joint Commission Meeting
Where: Laos
When: 9 September 2013

Hun Sen re-elected as the Prime Minister of Cambodia

The ruling Cambodian People’s Party (CPP) ofincumbent Prime Minister Hun Sen on 8 September 2013 was reelected to power after winning the Parliamentary Elections held on 28 July 2013. The National Election Committee (NEC) announced the results and declared Cambodian People’s Party as the winners with 68 seats. The NEC also declared that the oppositionparty, Cambodian National Rescue Party (CNRP) was successful in securing 55 seats.

The Prime Minister Hun Sen (61) has ruled the country for 28 years. With this win his rule has extended for a periodof another five years in the country.

The ruling Cambodian People’s Party got 48.79 percent of the votes and CNRP won 44.45 percent of votes. Other parties namely, Funcinpec Party and League of Democratic Party won 6.3 percent of votes(combined) with zero seats.

About Hun Sen
• His full honorary title is Samdech Akeak Moha Sena Padey Decho Hun Sen
• He was the leader of the Cambodian People’s Party and Prime Minister of Cambodia, since 1979, the time Khmer Rouge was overthrown by the Vietnamese-backing
• With no single Party majority, the CPP Party has been in coalition with the Royalist Funcinpec Party

Who: Hun Sen PM
Where: Cambodia
What: won parliamentary elections of Cambodia

Hindujas win lifetime achievement award in Britain

British Indian billionaire brothers Srichand and Gopichand Hinduja won a Lifetime Achievement Award for their contributions to UK's Asian community. The award was given at the annual Asian Achievers Awards (AAA) in London on 6 September 2013 by American civil rights activist Jesse Jackson.

The Hindujas were nominated along with NRI businessman Vedanta Resources chairman Anil Agarwal as well as former England cricket captain Nasser Hussain and 102-year-old marathon runner Fauja Singh. The awardsare organised by the ABPL Group, publishers of Asian Voice and Gujarat Samachar newspapers in the UK, with the purpose of celebrating the achievements of South Asians based in Britain.

2013's awards highlighted the achievements of Asian women and all the money raised from a charity auction was assigned for the Lily Foundation. It is a charity working against human trafficking in Indiaand the UK.

The awardees in the other categories are as following:
• British Indian actress Seeta Indrani for achievement in media, arts and culture;
• Prof Naina Patel, the founder of Policy Research Institute on Community and Inter-faith Relations, for her contributions to community service and
• Nandita Parshad, director of the power and energy utilities team at the European Bank for Reconstruction and Development (EBRD)

Who: Hindujas
Where: London
What: won a Lifetime Achievement Award in Britain
When: 6 September 2013
Why: for their contributions to UK's Asian community

Me Nestam

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Current Affairs Global – 3 September 2013

Friday, September 6, 2013

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