Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 31- OCTOBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 31- OCTOBER - 2016
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Tuesday, 01 November 2016 10:01

 

 

 


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DAILY NEWS UPDATES

31- OCTOBER - 2016

 

:: NATIONAL ::

PM CELEBRATES DIWALI WITH ITBP MEN

  • PM Modi said Rs. 5,500 crore has been allocated for implementing the OROP scheme, an issue that had been hanging fire for the last 40 years.
  • He lauded the valour and sacrifice of the armed forces amid tension on the border with Pakistan.
  • Mr. Modi was celebrating Deepavali with Army and ITBP men in Sumdo in Himachal Pradesh’s Kinnaur district.
  • Dedicating the festival to the armed forces personnel, he said he “fulfilled the promise” made to ex-servicemen on the One Rank, One Pension scheme.
  • Earlier, in his monthly “Mann ki Baat” programme on All India Radio, Mr. Modi asked the people and the State governments to find ways of forging unity across the country and work to defeat separatist tendencies and mentalities.
  • He hailed the people including celebrities for sending overwhelming messages to his “Sandesh2Soldiers” campaign.
  • In the wake of the ongoing unrest in Kashmir Valley, he said: “Unity in diversity is our strength.
  • It is the responsibility of every citizen and all governments to forge unity and curb separatist tendencies to save the country.”

DEEPAVALI WAS CELEBRATED FOR THE FIRST TIME AT THE UNITED NATIONS

  • Deepavali was celebrated for the first time at the United Nations, with the world body’s imposing headquarters here lit up on the occasion of the Indian festival of lights.
  • The facade of the U.N. headquarters was illuminated in bright hues and the words ‘Happy Diwali,’ along with the image of a traditional ‘diya,’ were projected onto the building.
  • “Lighting up @UN lights up for #Diwali for 1st time,” India’s Ambassador to the U.N. Syed Akbaruddin tweeted.
  • It is for the first time that the Indian festival of lights is being celebrated at the world body after the U.N. General Assembly adopted a resolution in December, 2014, that acknowledged the “significance of Diwali.”
  • Noting that the festival is observed in many U.N. member states, the resolution had called on U.N. bodies to avoid holding meetings on Diwali, declaring it a no-meeting day.
  • From 2016 onwards, Diwali was made an optional holiday for the U.N., India’s Permanent Mission to the world body said in a special video message.
  • Earlier in June, the U.N. building was lit up on the occasion of the International Yoga Day, with images of Yoga postures projected on the imposing headquarters.

OCEANS ARE RESPONSIBLE FOR ICE AGES

  • Oceans may be responsible for making the Earth move in and out of ice ages every 100,000 years, finds a study.
  • According to a paper published in the journal Geology , oceans sucking carbon dioxide (CO2) out of the atmosphere may have triggered this phenomena.
  • By studying the chemical make-up of tiny fossils on the ocean floor, the team discovered that there was more CO2 stored in the deep ocean during the ice age periods at regular intervals every 100,000 years.
  • This suggested that extra carbon dioxide was being pulled from the atmosphere and into the oceans at this time, subsequently lowering the temperature on the Earth and enabling vast ice sheets to engulf the Northern Hemisphere.

:: INTERNATIONAL ::

ITALY STRUCK WITH MOST POWERFUL EARTHQUAKE IN THREE DECADES

  • Italy’s most powerful earthquake in 36 years struck a new blow to the country’s seismically vulnerable heart.
  • It measured 6.6 on the so-called moment magnitude scale.
  • Norcia’s 14th-century Basilica of Saint Benedict, built on the reputed birthplace of the Catholic saint, was reduced to rubble.

:: SCIENCE AND TECHNOLOGY ::

RUSSIAN SPACESHIP SOYUZ MS-01 SUCCESSFULLY TOUCHED DOWN

  • The landing module of the Russian spaceship Soyuz MS-01 successfully touched down on Sunday in the steppes of Kazakhstan with three crew members on board.
  • Astronauts Anatoli Ivanishin, TakutyaOnishi and Kathleen Rubins, of Russia, Japan and the U.S. respectively, returned to Earth after completing a nearly four-month mission on the International Space Station.
  • The MS-01, the first ship of the new Soyuz model, landed about 140 to 150 km southeast of Zhezkazgan city. During their tenure on the orbital platform the three astronauts performed about 40 scientific experiments.
  • The ISS is currently made up of 14 permanent modules and orbits at a speed of more than 27,000 km per hour at a distance of 400 km from Earth.
  • The orbit of the platform is raised periodically as the ISS loses between 100 and 150 metres in height due to terrestrial gravitation, solar activity and other factors.

OMEGA-3 MAY HELP IN CURING ALZHEIMER'S

  • Omega-3 polyunsaturated fatty acids from fish may help to remove metabolites, including amyloid-beta, which is one of the factors that lead to Alzheimer’s, finds a study.
  • The research published in the FASEB Journal suggested that Omega—3 polyunsaturated fatty acids (PUFAs) found in fish oil could improve the function of the glymphatic system, which facilitates the clearance of waste from the brain.
  • To make this discovery, scientists first used transgenic fat-1 mice, which express high endogenous Omega-3 PUFAs in the brain, to investigate the effect of Omega-3 PUFAs on the clearance function of the glymphatic system.
  • Compared to the wild-type mice, the fat-1 mice with enriched endogenous Omega-3 PUFAs significantly promote the clearance function of the lymphatic system, including the amyloid—beta clearance from the brain.

:: BUSINESS AND ECONOMY ::

NEW YEAR ACCORDING TO HINDU CALENDAR STARTED

  • The stock markets began the new year – Samvat 2073, as per the Hindu calendar – on a weak note even as analysts forecast a bullish journey ahead on the back of better corporate earnings and policy reforms.
  • The benchmark BSE Sensex fell 11.30 points to 27,930.21. The broader Nifty of the National Stock Exchange (NSE) closed the special session at 8,625.70, down 12.30 points.
  • Stock exchanges conduct a special Muhurat trading session every year to mark the advent of the new year. Typically, the volume in the Muhurat session is very thin.
  • Market participants, however, expected the year to be strong for equities because of the government’s reform push and an upswing in corporate earnings.

SLUGGISH TAX REVENUES OF STATES WILL MAKE IT DIFFICULT TO IMPLEMENT 7TH PAY COMMISSION

  • The sluggish tax revenues of many states may push them into a corner in view of the pressure created by the Seventh Pay Commission pay out and may even force them to scale back on plan expenditure or run into higher fiscal deficits.
  • In its analysis of 16 states’ finances till April-July 2016 , Edelweiss Securities discovered a sluggish tax revenue trend — up by about 6 per cent versus a budgeted growth of about 20 per cent.
  • Land tax revenues were particularly sluggish (up 4 per cent year on year, or YoY, versus 7 per cent in FY16), implying pressure on land prices.
  • The associated adverse wealth effect operating in the economy, perhaps, partly explained the still weak aggregate consumption demand, especially in rural areas, the report said.
  • Meanwhile, Plan expenditure is robust though, up 29 per cent YoY (although slightly below 32 per cent YoY budgeted). This weakness in tax revenues does confirm that economic recovery is tepid and still not broad-based, the report said.
  • Meanwhile, oil taxes are in turnaround mode post a sharp plunge last year, given recovery in oil prices, and going ahead, this should improve further. However, other than land and oil taxes, the trend hinted at weakness.
  • Many states have ramped up Plan capital expenditure, an encouraging development, the report said.
  • However, the impending burden of higher wage pay-out under the 7th Pay Commission looms large and in a scenario where tax revenues are not particularly robust.
  • states will eventually face a tough choice of either reining in Plan expenditure or slipping on their budgeted fiscal targets, the report said.

:: IMPORTANT DETAILED NEWS ::

CHINA'S SPACE LAB LAUNCHES MICRO-SATELLITE, BANXING-2

Tiangong-2, the experimental space lab of China, successfully launched a micro-satellite, Banxing-2 (the word means Companion Satellite). The micro-satellite is roughly the size of a desktop printer.

At present, Tiangong-2 is orbiting the Earth with two astronauts on board.

About Banxing-2

• Weighing 47 kilograms, the micro satellite has a series of visible light cameras, including a 25 megapixel camera and wide-angle imagers.

• Its mission is to take photographs of Tiangong-2 and the Shenzhou 11 spacecraft, which docked with the lab on 19 October 2016.

• The satellite, which the media has nicknamed "Selfie Stick", also has an infrared camera that is temperature - sensitive.

• With three solar panels, the satellite can also generate enough power to adjust its orbit to shoot pictures of the lab and spacecraft.

• The Shenzhou-11 spacecraft carried two astronauts into space on the 17 October 2016. It docked with Tiangong-2 two days later.

• In 2008, its predecessor, Banxing-1, did the same work for Shenzhou 7.

PORTUGAL'S RENATO SANCHES WINS 2016 EUROPEAN GOLDEN BOY AWARD

Portugal’s Renato Sanches was awarded the 2016 European Golden Boy award.

Sanches will be handed a trophy at a Monte Carlo ceremony. He defeated Manchester United’s Marcus Rashford, Bayern's Kingsley Coman and AC Milan goalkeeper Gianluigi Donnarumma to bag the prize.

Sanches was selected following a vote by journalists from 30 newspapers across Europe to name the best player in 2016 under the age of 21.

About Renato Sanches

Renato Sanches is a Portuguese professional footballer who plays as a midfielder for German club Bayern Munich and the Portugal national team.

He began his career at Benfica, a Portuguese sports club.

Later, he agreed a move to Bayern Munich for an initial 35 million euro, the highest fee for a Portuguese player leaving the domestic league.

He made his full international debut in March 2016.

He was chosen for UEFA Euro 2016 at the age of 18, making him the youngest Portuguese to play in an international tournament. He scored one goal throughout the competition and won the Young Player of the Tournament.

About Golden Boy Award

The Golden Boy is an award that is given by sports journalists to a young football player playing in Europe perceived to have been the most impressive during a calendar year.

All nominees must be under the age of 21 and play in a European nation's top tier.

The prize was established by Italian sports newspaper Tuttosport in 2003.

In 2015, the award was won by France’s Anthony Martial.

G BALAKRISHNA, BENGALURU WATER TANKER DRIVER, CROWNED MR ASIA 2016

G Balakrishna won the Mr Asia title at the 5th Phil-Asia bodybuilding championships in the Philippines. 25-year-old Balakrishna is a Bengaluru-based water tanker driver.

G Balakrishna

• In 2013, he won Mr Universe Under-24 junior contest in Germany

• In 2014, he won Mr Universe title in the same category at the world championship in Athens

• He joined the water-tanker business in 2010 in Whitefild, Bengaluru to supplement his income as a gym instructor.

• He is a resident of Ramagondanahalli near Varthur

• An ardent fan of Arnold Schwarzenegger, Balakrishna was trained by renowned bodybuilders from Mumbai and Punjab, named Sangram Chougla and Manish Kumar respectively

• As per reports, he is known as the Arnold Schwarzenegger of Whitefield

RAJEEV MISRA APPOINTED AS HEAD OF SOFTBANK VISION FUND

India-born Rajeev Misra was appointed the SoftBank Vision Fund, constituted by Japanese telecom and Internet major Softbank Corp.

The SoftBank Vision Fund intends to make investments in the technology sector globally. It is managed in the United Kingdom by a subsidiary of the Saudi Binladin Group (SBG). It is reportedly one of the world's largest of its kind and will be operated from London.

Who is Rajeev Misra?

Prior to his new assignment, Rajeev served as Head of Strategic Finance at SoftBank Group Corp for nearly two years from 3 November 2014.

He joined SoftBank in November 2014.

He had spent five years at UBS as the Global Head of Credit and Head of Fixed Income, Currencies and Commodities in Europe, Middle East and Africa.

He also served as the Head of Credit Derivatives and Chief of Global Credit Trading at Deutsche Bank AG.

He completed his schooling at Delhi Public School, New Delhi.

Later, he pursued Chemical Engineering in IIT-Delhi for a year before switching over to Pennsylvania University, US where he completed his graduation in Mechanical Engineering and MTech in Computer Science.

Subsequently, he obtained a degree in MBA from Sloan School of Management after which he joined Merrill Lynch.

 

 

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Last Updated on Thursday, 01 December 2016 04:12
 
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