Daily Current Affairs - 09th Oct 2018

Amazon, Flipkart to add 80,000 jobs

  • Walmart-backed Flipkart said it had added 30,000 direct jobs in its supply chain and logistics arm. The company is expecting its seller partners to have added an estimated more than five lakh indirect jobs at their locations. The jobs were created for its festive season sale ‘The Big Billion Days’ (TBBD).
  • Amazon said it had created more than 50,000 seasonal positions across its network of fulfilment centres, sorting centres, delivery stations and customer service sites this festive season. These have been created in Hyderabad, Chennai, Bengaluru, Pune and other cities.
  • Flipkart CEO Kalyan Krishnamurthy.

Asian Para Games in Jakarta: India bag eleven medals including three gold

  • Javelin thrower Sandeep Chaudhary produced a stunning world record effort as India bagged 11 medals, including three gold, on a productive day at the Asian Para Games in Jakarta.
  • Chaudhary clinched India's first gold of the Games in the men's category before middle distance runner Raju Rakshitha in women's 1500 meters and swimmer Jadhav Suyash Narayan in men's 50-meter butterfly added the yellow metals later on the second day of competitions.

Bilateral Maritime Exercise Between Japan and India (JIMEX 18) Commences at Visakhapatnam

  • Bilateral maritime exercise JIMEX-18 between India and Japan commenced in Visakhapatnam. The third edition of JIMEX will witness the participation of the Japanese ships, under the command of Rear Admiral Tatsuya Fukada, commander of Escort Flotilla-4 (CCF-4). The Indian Navy would be represented by three indigenously-designed warships and a fleet tanker. JIMEX-18 will comprise a harbour phase and a sea phase of four days each.
  • Inter-operability, understanding and imbibing the best practices of each other would be enhanced through the nine-day event.
  • The participating ships include INS Satpura, a multi-purpose stealth frigate, INS Kadmatt, an anti-submarine warfare corvette, missile corvette and INS Shakti, the fleet tanker. The last edition of JIMEX was held in December 2013 off the Chennai coast.

Brazil: Jair Bolsonaro wins first round of presidential election

  • In Brazil, the far-right candidate, Jair Bolsonaro, has won the first round of presidential election. He will face the left-wing Workers' Party candidate, Fernando Haddad, in the second round on 28th of this month after he failed to win 50 per cent of valid votes needed to win outright.
  • With almost all the votes counted, Mr Bolsonaro had 46 per cent and Mr Haddad 29 per cent.
  • Brazil
  • Capital: Brasília
  • Currency: Brazilian real

Centre decides to start issuing Sovereign Gold Bonds 2018-19 from this month

  • The Centre in consultation with the Reserve Bank of India has decided to issue Sovereign Gold Bonds 2018-19. These will be issued every month from this month to February next year.
  • The Bonds will be sold through banks, Stock Holding Corporation of India Limited, designated post offices and recognised stock exchanges National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
  • The 2018-19 Series II tranche will be issued on 23rd of this month.

Google social network bug exposed data of thousands, to be shutdown

  • The US internet giant Google has announced it is shutting down the consumer version of its online social network after fixing a bug exposing private data in as many as 500,000 accounts. The US internet giant said it will close Google+ social network for consumers, which failed to gain meaningful traction as a challenge to Facebook.
  • Google discovered a software bug that gave third-party developers access to the private profile data of users of its Google+ social network.

Govt extends deadline for filing ITR, audit report till Oct 31

  • The Central Board of Direct Taxes (CBDT has further extended the deadline to file Income Tax Return and audit report for financial year 2017-18 to 31st of this month. It had earlier extended the date for filing of Income Tax Returns and various reports of Audit to 15th October. Upon consideration of representations from various stakeholders, CBDT has further extended the due date.

High level strategic policy group setup to assist National Security Council to review the security affairs of the country

  • The union government has set up the Strategic Policy Group (SPG) to assist the National Security Council, which advises the prime minister on matters of national security and strategic interests. The SPG will be chaired by National Security Advisor (NSA) Doval and its members include the NITI Aayog vice chairman, the cabinet secretary, the chiefs of the three defence services, the RBI governor, the foreign secretary, the home secretary, the finance secretary and the defence secretary.
  • The group will assist the National Security Council and undertake among other tasks, a long-term strategic review of country's security affairs.

ICC ODI rankings: Virat Kohli, Jasprit Bumrah maintain top positions

  • India Captain Virat Kohli and speedster Jasprit Bumrah maintained their respective top positions in the latest ICC ODI rankings released in Dubai. Kohli led the batsman's list with 884 points while Rohit Sharma with 842 ranking points maintained the second position. The other Indian batsman in the top-10 was Shikhar Dhawan, who is placed fifth in the list with 802 points.
  • Among the bowlers, Bumrah with 797 points was on top while left-arm wrist spinner Kuldeep Yadav with 700 points is third in the list.
  • In the team ranking, India are currently placed second with 122 points behind England's 127.

India to become 11th wealthiest nation by 2022: BCG report

  • According to a report by Boston Consulting Group (BCG), India’s personal financial wealth is projected to grow to $5 trillion by 2022, making it the world’s 11th wealthiest nation ahead of Switzerland, Hong Kong, the Netherlands and Taiwan. This makes India the only nation apart from China to have a double digit CAGR for personal wealth.
  • The report says that India’s personal financial wealth, currently at around $3 trillion, has grown at 12% CAGR since 2012 and is expected to grow at 13% CAGR from 2018 to 2022.
  • The report adds that India is set to constitute the second largest pool of wealth from emerging markets in the coming years, second only to China.
  • According to the report, India has 320,000 people in the affluent category-those with wealth up to $ 1 million; 87,000 people in the high net worth individuals (HNWI) category—those with wealth between $1 million and $20 million; and 4,000 in the ultra high net worth individuals (UHNWI) category—those with wealth above $20 million.

India, Tajikistan sign several MoUs in fields of agriculture, space technology and disaster management

  • India and Tajikistan signed MoUs in various fields including political relations, strategic research, agriculture, renewable energy, traditional medicine, space technology, youth affairs, Culture and Disaster Management.
  • India and Tajikistan remain determined to counter all forms of terrorism and violent extremism which are a grave threat to international peace and stability.
  • Tajikistan
  • President: Emomali Rahmon
  • Prime Minister of Tajikistan Mr. Kohir Rasulzada
  • Capital: Dushanbe
  • Currencies: Tajikistani somoni, Ruble

Japan's PM says UK would be welcomed to TPP with open arms

  • Japan's Prime Minister has said Britain would be welcomed into the Trans-Pacific Partnership (TPP) trade deal with "open arms" after it leaves the EU. The UK is due to leave the EU on 29 March 2019.
  • The Trans-Pacific Partnership (TPP) is a defunct proposed trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and United States signed on 4 February 2016, which was not ratified as required and did not take effect. After the United States withdrew its signature. The agreement could not enter into force.
  • The remaining nations negotiated a new trade agreement called Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which incorporates most of the provisions of the TPP.

NHB raises refinance limit for HFCs

  • The National Housing Bank (NHB) has decided to increase the refinance limit to Rs. 30,000 crore in 2018-19, from Rs. 24,000 crore set in July this year. This was done in a bid to support mortgage financiers in tiding over the current liquidity crunch.
  • The bank added that all eligible housing finance companies (HFCs) and other entities would have increased availability of funds.
  • As on date, NHB had sanctioned Rs. 8,835 crore to eligible borrowers.

Onset of North East Monsoon delayed

  • The chief of the Meteorological Department in Chennai, Dr Balachandran has stated that the onset of North East Monsoon has been delayed. The cyclonic storm formed in the Arabian Sea and the well-marked low pressure area in the Bay of Bengal have altered the onset of the Monsoon. The two weather phenomena in the two adjoining seas have changed the course of the wind shear and moisture in the air, leading to its delay.
  • The North East Monsoon contributes the most to the rainfall in Tamil Nadu and Puducherry.
  • chief of the Meteorological Department: Dr Balachandran

SC pulls up RBI as banks go slow on lowering interest rates

  • The Supreme Court of India had directed the RBI to come up with a decision on a representation that banks are delaying passing on the benefit of lower interest rates to those who have taken loans at floating interest rates.
  • The court asked the RBI to communicate within six weeks its decision to the public trust ‘Moneylife Foundation’, which has filed the representation alleging that banks and financial institutions take a tardy approach in lowering interest rates despite the central bank’s decision on the repo and reverse repo rates.
  • It granted liberty to the Trust and others to approach the court again if they were not satisfied with the response of the RBI.

UN panel on climate change issues extensive warning on rising global temperatures

  • The Intergovernmental Panel on Climate Change (IPCC) has issued its the most extensive warning on the risks of rising global temperatures. The panel released their report after three years of research and a week of intense debate between scientists and government officials at a meeting in South Korea.
  • The report says the world is now completely off track, heading towards increase of 3 degree Celsius.
  • The report pleads to keep the target of 1.5 degree Celsius above pre-industrial level. And for this, the report suggests that rapid, far-reaching and unprecedented changes in all aspects of society are required.
  • The Intergovernmental Panel on Climate Change is a scientific and intergovernmental body under the United Nations, set up at the request of member governments, dedicated to the task of providing the world with an objective, scientific view of climate change and its political and economic impacts.
  • Current chair of the Intergovernmental Panel on Climate Change: Hoesung Lee
  • Headquarters: Geneva, Switzerland

William Nordhaus, Paul Romer win Nobel prize for economics

  • This year's Nobel prize for economics has been awarded to William Nordhaus and Paul Romer of the United States for their work on sustainable growth. The research of the two US economists focuses on how climate change and technology have affected the economy. The academy said, Prof Nordhaus, of Yale University, was the first person to create a model that described the interplay between the economy and the climate.
  • The duo will receive nine million Swedish krona (equivalent to 7 crore and 32 lakh rupees).

World Post Day is observed on 9th October

  • World Post Day is celebrated every year on 9th October marking the anniversary of the establishment of the Universal Postal Union in 1874 in the Swiss Capital, Bern. The Posts in many countries use the event to introduce or promote new postal products and services.
  • The postal sector is one of the world’s largest logistical networks and a vital center of community life everywhere.

World Wrestling Championships in Budapest: 30-member team led by Sakshi Malik, Bajrang Punia to represent India

  • Olympic medallist Sakshi Malik and Asian Games gold medallist Bajrang Punia will lead a strong 30-member team at the World Wrestling Championships to be held in Budapest, Hungary from October 20 to 28.
  • While Bajrang (65kg) is India's best bet in the freestyle category, Sakshi (62kg) and Commonwealth Games gold Pooja Dhanda (57kg) medallist will spearhead India's campaign in the women's wrestling.
  • The Wrestling Federation of India (WFI) has selected 10 members each in free-style, greco-roman and women's wrestling categories.

World Wrestling Championships in Budapest: 30-member team led by Sakshi Malik, Bajrang Punia to represent India

  • Olympic medallist Sakshi Malik and Asian Games gold medallist Bajrang Punia will lead a strong 30-member team at the World Wrestling Championships to be held in Budapest, Hungary from October 20 to 28.
  • While Bajrang (65kg) is India's best bet in the freestyle category, Sakshi (62kg) and Commonwealth Games gold Pooja Dhanda (57kg) medallist will spearhead India's campaign in the women's wrestling.
  • The Wrestling Federation of India (WFI) has selected 10 members each in free-style, greco-roman and women's wrestling categories.