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Daily Current Affairs 29th Jan 2018

Govt approved plan of Rs 750 crore for law university at Nagpur

  • Maharashtra Chief Minister Devendra Fadnavis said the government had approved a plan of Rs. 750 crore for a law university at Nagpur.
  • The state government has approved a plan of Rs. 750 crore for Maharashtra Law University at Nagpur and work on the first phase costing Rs. 200 crore would begin soon.
  • Devendra Fadnavis, along with Union Minister for Road Transport and Highways Nitin Gadkari, also laid the foundation stone of a flyover connecting Ujjwal Nagar to Manish Nagar, with a railway over bridge and underpass, on the Nagpur-Hyderabad section of National Highway 47, to be built at a cost of Rs. 130 crore.

International Bird Festival to be held at Dudhwa National Park

  • A three-day international bird festival will be held at the Dudhwa National Park here from February 9 with nearly 200 leading ornithologists expected to attend.
  • The purpose behind the international bird festival is to promote eco-tourism in Dudhwa and to give it a distinct international identity besides highlighting its traditional Tharu arts, culture and heritage.
  • Eminent documentary maker Mike Pandey would act as the brand ambassador of the festival.

India cheapest country to live in after South Africa: Survey

  • India is ranked second only to South Africa as the cheapest country to live or retire, according to a recent survey of 112 countries.
  • The survey by GoBankingRates ranked nations on the bases of four key affordability metrics provided by online pricing database Numbeo. The metrics are: Local purchasing power index, rent index, Groceries index, and Consumer price index.

Earthquake monitoring system in the Andamans

  • Real-time monitoring of earthquakes is under planning. It is to be done by setting up a diverse system of sensors on the Andaman and Nicobar Islands. The operation is being carried out by the Indian Tsunami Early Warning System (ITEWS) of the Indian National Centre for Ocean Information Services (INCOIS).
  • At 28 locations on the island, strong motion sensors have been installed containing Global Positioning Systems (GPS).
  • Upon the clearance of an awaiting permission from the environment and forest departments, three more ‘cabins’ will be installed. The sensors will be placed deep into the forests.
  • These sensors will be linked to the satellites and will also be interconnected to each other, thus enabling the scientists to control and detect the minute land mass movements and seismic data in real-time. This will help them in estimating the impact and to act quickly.

UAE based Lulu group inks MoU worth Rs 2,500 Crores with Telangana to develop food processing industry

  • UAE based Lulu bunch inked three MoUs with Telangana government with an intend to grow retail and nourishment handling industry in the state. Lulu Group-biggest boss in UAE is being advanced by NRI agent Yusuffali MA. Under the MoUs, Lulu will contribute a measure of USD 400 million (Rs 2,500 Crores) to build 1.8 million square feet territory of the uber shopping center, set up nourishment handling plant and a coordinations and fare preparing unit for foods grown from the ground. The establishment stone will be laid inside next three months by the Telangana Chief Minister K Chandrasekhar Rao, it said including roughly 6,000 individuals will get business.

Qatar, Oman sign deal to boost trade, economic ties

  • Memorandum of Understanding (MoU) signed on Sunday covers food production, marketing, joint investment and export of Omani products to Qatar.
  • The MoU was signed in the presence of the dignitaries of both countries.
  • The volume of product-exchange between Oman and Qatar have risen two to three times since then.

GDP growth pegged at 7-7.75%

  • The Economic Survey 2017-18, tabled by the Union Finance Minister Arun Jaitley projected a GDP growth of 7 to 7.5% in the financial year 2018-19.
  • “A series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19,” said the Economic Survey 2017-18.

Economic Survey 2018- ⤵️⤵️⤵️

🔹FM Jaitley tables Economic Survey in Parliament.
🔹Economic Survey sees FY19 GDP growing 7-7.5% vs 6.75% in FY18.
🔹Economic Survey sees average crude oil prices rising 12% in FY19.
🔹Due to higher expected increase in imports, net exports of goods and services are slated to decline in 2017-18.
🔹Exports beggest source of boost to growth.
🔹GVA growth seen at 6.1% vs 6.6% in FY17.
🔹GST data shows growth of 50% in indirect tax payers.
🔹Real GDP to clock 6.75% this FY.

Ecommerce Behemoth Amazon Fuels $306 Mn In Indian Arm

  • To outrun homegrown rival Flipkart, ecommerce giant Amazon hasinfused $306 Mn (INR 1,950 Cr) funding in its Indian arm, Amazon Seller Services.
  • As per the company’s regulatory filings, the investment was made by Seattle-headquartered Amazon Inc and its Singapore-based subsidiary, Amazon Corporate Holdings.
  • With this, the overall capital infusion in Amazon Seller Services has touched $1.3 Bn (INR 8,150 Cr) for FY18.
  • The development comes just over two months after the company fueled $446 Mn (INR 2,900 Cr) in its India operations, making it the biggest capital infusion in Amazon India till date.

Paytm valuation hits $10 bn after 200 employees sell shares

  • Indian digital payment startup Paytm has crossed $10 billion valuation for the first time after 200 current and former employees sold their shares worth $47.2 million (₹300 crore). Paytm’s last valuation stood at $7 billion when it raised $1.4 billion from SoftBank last year. The new valuation makes Paytm second-most valuable internet startup in India after Flipkart (about $12 billion).

EXIM Bank raises $10 billion in London Stock Exchange bond issue

  • The Export Import Bank of India has raised USD 10 billion with a bond issuance on the London Stock Exchange (LSE).
  • The 10-year dollar bonds were nearly two times oversubscribed.
  • The proceeds raised will be used by the EXIM Bank to support Indian project exports, overseas investment by way of long-term credit and its lines of credit portfolio.

Kohli surpasses Lara in all-time Test rating points list

  • Following his knocks of 54 and 41 in the last South Africa Test, India captain Virat Kohli has moved past legend Brian Lara in the all-time Test rating points list. With 912 points, current world number two Test batsman Kohli moved from 31st position to 26th position, leapfrogging Lara (911), Kevin Pietersen (909), Hashim Amla (907) and Michael Clarke (900).

Pakistan becomes world number 1 T20I side after beating NZ

  • Pakistan became the top-ranked T20 side in international cricket after beating New Zealand in the third and final T20I on Sunday to claim the three-match series 2-1. This was Pakistan’s sixth T20I series win on the trot. Notably, New Zealand had whitewashed Pakistan in the five-match ODI series before the T20I series.

Grammy Awards winners

  • Bruno Mars, Kendrick Lamar steal the show in early Grammys Mars won all of the awards for which he was nominated.
  • Here is a list of winners in key categories:
  • Album of the Year: Bruno Mars, 24K Magic.
  • Record of the Year: Bruno Mars, 24K Magic.
  • Song of the Year (for songwriting): Bruno Mars.
  • The 60th Annual Grammy Awards ceremony was held on January 28, 2018.

Tai Tzu Ying Of Taiwan Wins Indonesian Masters

  • The world no.1 Tai Tzu Ying of Taiwan defeated Saina Nehwal in the finals of the Indonesia Masters in Jakarta. Tai Tzu has now defeated the former world No.1 nine times in their last 10 meetings. Saina enjoyed early success against the Taiwanese till 2011 but the Nehwal has beaten her only once at the 2013 Swiss Open ever since.

Asha Bhosle To Get Yash Chopra Memorial Award

  • Bollywood playback doyenne Asha Bhosle will be given the ‘Yash Chopra Memorial Award.
  • She will be the fifth winner of the award. Previous recipients are Asha Bhosale’s elder sister and Bollywood playback singer Lata Mangeshkar, and actors Amitabh Bachchan, Rekha, and Shah Rukh Khan.

Roger Federer Wins the Australian Open for His 20th Grand Slam Title

  • World No. 2 Roger Federer defeated No. 6 Marin Cilic 6-2, 6-7(5), 6-3, 3-6, 6-1 to clinch his sixth Australian Open title.
  • This is Federer’s 20th Grand Slam title.
  • Roger Federer is from Switzerland and Marin Cilic from Croatia.

Ingvar Kamprad Passed Away

  • Ingvar Kamprad, the Founder of Swedish furniture giant Ikea, died at the age of 91 at his home.
  • Kamprad was the world’s eighth-richest person with a net worth of $58.7 billion.
  • He had founded Ikea at the age of 17, building it into the world’s largest furniture retailer.

Mort Walker, ‘Beetle Bailey’ cartoonist and comic strip artist, dead at 94

  • Comic strip artist Mort Walker, who tickled newspaper readers with the antics of the lazy Army private “Beetle Bailey,” has died. He was 94.
  • Walker’s son, Greg, said his father died Saturday at his home in Stamford, Conn. Greg Walker attributed the cause of death to his father’s advanced age.

Ottanthulal artist Kalamandalam Geethanandan passes away

  • Ottanthulal artist Kalamandalam Geethanandan (58) collapsed and died during a performance at Avittathur Mahavishnu Temple in Kerala.
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