Wednesday, 4 October 2017

Daily Update On Current Affairs - October 04, 2017

Current Affairs

Here's your daily summary of Current Affairs.

Global Entrepreneurship Summit 2017 to be Held in Hyderabad

A high-level delegation from the Government of India and the United States met NITI Aayog to plan the 2017 Global Entrepreneurship Summit. The summit will be held on November 28-30 at the Hyderabad International Convention Centre in Hyderabad, India. This year’s theme is “Women First, Prosperity for All” to celebrate the entrepreneurial spirit in all its strengths and diversity. The Summit will be inaugurated by the Prime Minister Shri Narendra Modi and Advisor to the President, Ivanka Trump, who leads the U.S. delegation.

Brenda Hale, First Female President of UK's Supreme Court    
  
Brenda Hale, the first female president of the Supreme Court, and Sir Ian Burnett, the youngest lord chief justice for 50 years, have been sworn in at the opening of the legal year. Hale, 72,  was born in Yorkshire. She succeeds David Neuberger.  In a series of ceremonies, the new head of the judiciary in the UK and in England and Wales assumed office with recorded video broadcasts intended to demonstrate their commitment to improving the transparency of the courts.

2017 Nobel Physics Prize Awarded to Gravitational Wave Detectors   
 
The 2017 Nobel Physics Prize has been awarded “for decisive contributions to the LIGO detector and the observation of gravitational waves” to Rainer Weiss, Barry C. Barish and Kip S. Thorne of the Laser Interferometer Gravitational-wave Observatory. The Prize announced by Sweden’s Royal Academy of Sciences comes with 9 million kronor ($1.1 million). For the past 25 years, the prize has been shared among multiple winners. The 2016 prize went to three British-born researchers who applied the mathematical discipline of topology to help understand the workings of exotic matter such as superconductors and superfluids. The 2017 Nobel medicine prize went to three Americans studying circadian rhythms better known as body clocks-Jeffrey C. Hall, Michael Rosbash and Michael W. Young.

First US crude oil shipment arrives in Paradip 
        
The first US crude oil cargo of 1.6 million barrels bought by Indian Oil Corporation from the US reached Paradip Port on 2nd October. Indian Oil will process the crude at its East-Coast based refineries, located at Paradip, Haldia, Barauni and Bongaigaon. According to an official release, Indian Oil, which became the first Indian public sector refiner to source US crude has placed a cumulative order 3.9 million barrel from the US. Bharat Petroleum has also placed orders from the US for about 2.95 million barrels and Hindustan Petroleum 1 million barrels for their Kochi and Vizag refineries.

GDP to hit $6 trillion by 2027 on digital leap: Morgan Stanley report     

India is likely to be the world's fastest-growing large economy in the next 10 years, driven by digitisation, favourable demographics, globalisation and reforms, predicts a Morgan Stanley report. According to the global financial services major, the trend line in India's annual  n
GDP growth has been accelerating to 6.9 percent in 2000s, from 5.8 percent in the 1990s, and this momentum is likely to continue in the next decade as well. Morgan Stanley expects digitisation will provide an enhancement of 50-75 bps to GDP growth and forecast that India will grow to a 6-trillion-dollar economy and achieve upper-middle income status by 2026-27. Morgan Stanley said that India's real GDP growth to compound annually at 7.1 percent and nominal GDP growth to compound at 11.2 percent, over the coming decade.

Jagan Wins Sixth Title in a Row at National Motorcycle Racing  

TVS Racing’s mascot Jagan Kumar notched his sixth straight title in the premier Super Sport Indian class on a rain-affected day to bring down the curtain on the MRF MMSC FMSCI Indian National Motorcycle Racing Championship in Chennai. Jagan Kumar is the first Indian to win Asia Road Racing. The event was organised by Madras Motorsports Club. It was sponsored by MRF Ltd. 
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