Tuesday, 4 July 2017

Current Affairs July 04, 2017


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Indigenously developed quick reaction surface-to-air short range missile successfully test-fired 


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India successfully test-fired its indigenously developed quick reaction surface-to-air short range missile (QR-SAM). The sophisticated missile was test fired from a truck-mounted canister launcher from launch complex-3 at the Integrated Test Range (ITR) at Chandipur. It was the second successful developmental trial of the state-of-the-art missile with an aerial target. The first test launch of the missile was conducted in June 2017 from the same base.

Mahesh Bhagwat conferred 2017 Trafficking in Persons (TIP) Report Heroes Award 


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Mahesh Muralidhar Bhagwat, IPS officer from Telangana, was conferred the 2017 Trafficking in Persons (TIP) Report Heroes Award by the Unites States Department of State. He is third IPS officer to get this honour. He was awarded for his vital role in elevating human trafficking as a government priority and his innovative approach to investigating cases and dismantling human trafficking operations. Currently, Mahesh Bhagwat is Police Commissioner of Rachakonda, one of the three Police Commissionerates located in Hyderabad.


Carrie Lam has sworn in as first female Chief Executive of Hong Kong 


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Carrie Lam was sworn in as the first female Chief Executive (CE) of the Hong Kong Special Administrative Region (HKSAR), an autonomous territory of China on the Pearl River Delta. The CE of Hong Kong is the head and representative of the Hong Kong and also head of the Government of Hong Kong.



Qatar responds to demands by Saudi-allies after deadline extended 

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Qatar responded to a list of demands from Saudi Arabia and its allies after they agreed to give a defiant Doha another 48 hours to address their grievances. Details of the response were not immediately available, but a Gulf official told that Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani had delivered it during a short visit to Kuwait, which is acting as a mediator in the crisis. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt had announced yesterday they were pushing back a deadline for Qatar to agree to a list of 13 demands they issued on June 22.

NMCE, ICEX to merge to create India’s third biggest commodity exchange


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National Multi Commodity Exchange (NMCE), India’s first demutualised online national multi-commodities exchange will merge with Indian Commodity Exchange (ICEX). The merged entity will create India’s third biggest commodity exchange. The largest commodity exchange by volume is the Multi Commodity Exchange (MCX) followed by National Commodity and Derivatives Exchange (NCDEX).

The Centre and Asian Development Bank sign 220 million dollar loan 


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The Centre and Asian Development Bank, ADB today signed a 220 million dollar loan for improving connectivity as well as transport efficiency and safety on State Highways of Rajasthan. The loan is the first tranche of the 500 million dollar Rajasthan State Highways Investment Program, approved by ADB Board in May this year. An official release said, the first tranche loan will improve about one thousand kilometers of State Highways and major district roads. 

Stock markets cheer GST roll out with a strong rally; Sensex surges 300 points to reclaim the 31 thousand mark 

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The domestic stock markets rousingly cheered the Goods and Services Tax roll out with a strong rally, today, but the rupee lost ground against the dollar. The Sensex at the Bombay Stock Exchange spurted 300 points, or 1 percent, to reclaim the 31,000-mark and close at 31,222, on the first day of trading after the launch of the Goods and Services Tax. The Nifty at the National Stock Exchange surged 94 points, or 1 percent, to 9,615. Buying was seen across the board. Key regional bourses in Japan, China, Hong Kong and South Korea gained 0.1 percent, each. Major markets in the UK, Germany and France climbed between 0.3 percent and 1 percent. But in the forex market, the rupee plunged 30 paise, to 64.88 against the dollar.  Gold dipped 10 rupees, to 29,400 rupees per ten grams in Delhi and Brent crude oil futures fell 13 cents, to 48.64 dollars a barrel.

SEBI tightens norms for issuance of credit ratings


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Any laxity by credit rating agencies (CRA) towards companies trying to cover up debt crises may no longer be tolerated. Alarmed by the agencies’ failure to conduct a timely review of the financial rating of a debt instrument of Reliance Communications, the Securities and Exchange Board of India (SEBI) has tightened norms for the issuance of credit ratings. SEBI has virtually put the onus on CRAs to monitor sharing of information by companies with regard to servicing of their debt. This includes seeking a ‘no default statement’ from companies at the end of every month.

Melwyn Rego is new CEO of Syndicate Bank


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Melwyn Rego has assumed charge as Managing Director and Chief Executive Officer of Syndicate Bank. Prior to joining the bank, he was MD & CEO of Bank of India. He has also held the position of Deputy Managing Director, IDBI Bank. He is a career banker and has been with IDBI Bank Ltd since 1984. Rego was deputed to IDBI Home Finance as the Managing Director and CEO in September 2003 after IDBI took over Tata Home finance. Rego returned to IDBI in January 2008 and took over as Head- International Banking Division to spearhead IDBI Bank's overseas initiatives.


Manufacturing PMI at four-month low of 50.9 in June


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Manufacturing activity fell to a four-month low in June despite a rise in orders from abroad, according to a private monthly survey. The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) slowed to 50.9 in June from 51.6 in May. This is the weakest expansion since February. A reading above 50 indicates growth while anything below that mark denotes a contraction in production. “One factor weighing on the PMI reading for June was a softer expansion in new work, the index’s largest sub-component,” said Nikkei in a release. It, however, added that new orders received by consumer goods firms continued to rise strongly, while capital goods producers recovered from May’s contraction.

Scientists develop world’s sharpest laser 


current affairs today,current affairs 2017,current affairs,general awarenessScientists from Physikalisch-Technische Bundesanstalt (PTB) in Germany have developed the world’s sharpest laser with record-breaking precision. This precision can be useful for various applications such as optical atomic clocks, radio astronomy, precision spectroscopy, testing the theory of relativity and carry out new precision measurements on ultra cold atoms.
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