Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 28 - AUGUST - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 28 - AUGUST - 2016
Tuesday, 30 August 2016 05:20

 

 

 


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DAILY NEWS UPDATES

28- AUGUST - 2016

:: NATIONAL ::

INDIA BEGAN INVESTIGATIONS TO DETERMINE THE EXTENT OF LEAK IN SUBMARINE DATA

  • India began multiple investigations to determine the extent of damage caused by the reported leak of huge quantity of secret data detailing the combat and stealth capabilities of soon-to-be-inducted Scorpene submarines.
  • The Navy, in its early response, said the leak was from outside India while downplaying the operational impact of the leak.
  • The source of the leak, if confirmed, can have a serious bearing on the significantly large defence ties between India and France with French companies in the race for deals worth billions of dollars including the Rafale fighter deal.
  • The incident emerged in a news report in The Australian , which also released a few sample documents.

ISRO SET TO CONDUCT AIR-BREATHING PROPULSION EXPERIMENT USING ITS RH-560 ROCKET

  • The Indian Space Research Organisation (ISRO) is set to conduct air-breathing propulsion experiment using its RH-560 rocket fitted with a supersonic combustion ramjet (Scramjet) engine on August 28 from Sriharikota.
  • ISRO is looking forward to conducting the air-breathing propulsion test using the two-stage, three-tonne RH-560 rocket because it involves cutting edge technologies.
  • The test was to have been done on July 28 but the search by the Indian Air Force and the Navy for the IAF’s transport aircraft An-32, which disappeared over the Bay of Bengal has delayed it by a month.
  • The Vikram Sarabhai Space Centre (VSSC), Thiruvananthapuram, has developed the engines to be used in the RH-560 rocket: the booster engine in the first stage; and the sustainer and the scramjet engines in the second stage.
  • Air-breathing propulsion along with re-usable launch vehicles is the key to low cost access to space.

SURROGACY (REGULATION) BILL, 2016, BANNING COMMERCIAL SURROGACY IN INDIA CLEARED

  • The Union Cabinet cleared the Surrogacy (Regulation) Bill, 2016, banning commercial surrogacy in India.
  • The Bill also bars foreigners, homosexual couples, people in live-in relationships and single individuals, making only childless, straight Indian couple married for a minimum of five years eligible for surrogacy.
  • Eligible couples will have to turn to close relatives, not necessarily related by blood for altruistic surrogacy — where no money exchanges hands between the commissioning couple and the surrogate mother.
  • Minister for External Affairs Sushma Swaraj defended making homosexuals ineligible for surrogacy.
  • The Bill also prohibits couples who already have biological or adopted children from commissioning babies through surrogacy.

DEFORESTATION REDUCES SUMMER RAINFALL IN GANGA BASIN, NORTH-EAST

  • Using satellite data and regional climate models, IIT Bombay researchers have found that deforestation in north-east India and north-central India has led to a 100-200 mm reduction in summer monsoon rainfall in these two regions.
  • The land use information is based on satellite data for two time periods — 1980-1990 and 2000-2010. The results were published on August 24 in the journal Scientific Reports
  • During the initial phase of a monsoon, oceanic sources play a major role in bringing rain and charging the soil with moisture.
  • But at the end of the monsoon period, evotranspiration from vegetation contributes to rainfall. Evotranspiration is a local moisture source for rainfall.
  • Recycled precipitation contributes to 20-25 per cent of the total monsoon rainfall during the end of the monsoon and is very prominent in the Ganga Basin and north-east India.

:: INTERNATIONAL ::

A POWERFUL EARTHQUAKE RATTLED ITALY

  • A powerful earthquake rattled a remote area of central Italy, leaving at least 120 people dead and scenes of carnage in mountain villages.
  • With 368 people injured and an unknown number trapped under rubble, the figure of dead and wounded was expected to rise in the wake of the pre-dawn quake.
  • The devastated area is just north of L’Aquila, the city where some 300 people died in another quake in 2009.
  • The shocks were strong enough to be felt 150 km away in Rome, where authorities ordered structural tests on the Colosseum.

:: BUSINESS AND ECONOMY ::

AIR PASSENGERS WILL SOON BE ABLE TO USE WI-FI SERVICES ON BOARD

  • Air passengers will soon be able to use Wi-Fi services on board while flying anywhere across the country.
  • The Union civil aviation ministry is working with the telecom ministry and the home ministry to allow passengers to use Wi-Fi services during the course of a flight.
  • The Department of Telecom has taken up the matter and we are working on it. In order to enable Wi-Fi services, the government was working towards allowing security agencies to monitor the call and data transmission.
  • Globally, it is a standard offering and is a win-win for passengers and airlines.
  • It will help common passengers with in-flight entertainment, business travellers to work on last-minute presentations and help airlines earn money.

CABINET APPROVED THE REVISED DOUBLE TAXATION AVOIDANCE AGREEMENT WITH CYPRUS

  • The Cabinet approved the revised Double Taxation Avoidance Agreement (DTAA) with Cyprus, a move that gives India the right to tax capital gains on investments routed through Cyprus prospectively from April 1, 2017.
  • The fresh DTAA with Cyprus, which is considered a haven for money laundering, round-tripping, and profit-shifting, assumes significance coming soon after the signing of the revised pact with Mauritius.
  • India is also in the process of revising its treaty with Singapore.
  • With the revision of the treaty now approved by the Cabinet, capital gains will be taxed in India for entities resident in Cyprus, subject to double tax relief. In other words, India will have the right to tax capital gains arising in India.
  • The revision of agreements with Mauritius and Cyprus could see this debt-restructuring business moving from the latter to the former.
  • Cyprus used to have a DTAA with India but was blacklisted on November 1, 2013, by the Indian government for non-cooperation.
  • Difference between the Cyprus and Mauritius treaty is the limitation of benefit clause.
  • A limitation of benefit clause is meant to prevent the misuse of treaties in which they have threshold saying if you invest a particular amount in a country then you are not a shell or paper company.

:: IMPORTANT DETAILED NEWS ::

CRISTIANO RONALDO WINS UEFA BEST PLAYER IN EUROPE AWARD

Cristiano Ronaldo won the UEFA Best Player in Europe award for 2015-16. He won the award for the second time in three years.

Ronaldo defeated Antoine Griezmann and Gareth Bale to bag the honours.

Ronaldo scored 35 goals for Real Madrid in La Liga and 16 goals in Champions League competition in 2015. He scored three goals for Portugal at Euro 2016.

Ada Hegerberg was voted the winner of the UEFA Best Women's Player in Europe Award for 2015-16 ahead of Amandine Henry and Dzsenifer Marozsan.

In 2014-15, Barcelona's Lionel Messi was the winner of the award. Ronaldo joins Messi as the only player to win the award twice.

On the other hand, Messi won the UEFA Goal of the Season award for 2015-16.

Messi won the award for his strike against Roma. During the match, he dinked the ball over goalkeeper Wojciech Szczesny in a 6-1 win over Roma in the Champions League in November 2015.

The famous goal received 73331 votes, giving Messi a 34 percent share.

About UEFA

The Union of European Football Associations (UEFA) is the administrative body for association football in Europe.

It is one of six continental confederations of world football's governing body FIFA.

UEFA consists of 55 national association members.

It represents the national football associations of Europe, runs nation and club competitions including the UEFA European Championship, UEFA Champions League, UEFA Europa League and UEFA Super Cup.

Until 1959, its main headquarters were located in Paris, France and later in Bern, Switzerland.

In 1995, UEFA headquarters transferred to Nyon, Switzerland.

Henri Delaunay was the first general secretary and Ebbe Schwartz the first president.

The last elected president was former French footballer Michel Platini.

ABHINAV BINDRA TO HEAD NRAI REVIEW COMMITTEE ON RIO DEBACLE

National Rifle Association of India (NRAI) constituted a five-member review committee to probe the shooters' Rio Games debacle.

The committee will be headed by India's first and only individual Olympic gold-medallist Abhinav Bindra. The committee has been asked to submit the report within a maximum period of four weeks.

Mandate of the committee

• To examine and identify the causes behind shooting not securing any medals at the Rio Olympics.

• To recommend concrete steps that NRAI must immediately undertake to ensure that this is not repeated in future Olympics.

Other members of the committee include former tennis player Manisha Malhotra, who has also been appointed Convenor of the committee, NRAI Secretary Rajiv Bhatia and two journalists.

Bindra, who finished at the fourth position in the men’s 10meter air rifle event in Rio, retired from the sport in third week of August 2016.

THONGCHAI JAIDEE BECOMES ASIAN TOUR GOLFER FOR JULY 2016

Thailand’s Thongchai Jaidee was voted as theHilton Asian Tour Golfer of the Month for July 2016.

Thongchai won the award ahead of Chinese Taipei's Chan Shih-chang and Carlos Pigem of Spain. They were nominated by a selection panel before going into a voting process.

About Thongchai Jaidee

Thongchai Jaidee is a Thai professional golfer who plays on the Asian Tour and the European Tour.

On the Asian Tour, he holds the record for the most career earnings and is second in victories having won 13 times.

He has won the Order of Merit on the Asian Tour three times during his career.

In February 2004, he became the first Thai to win a tournament on the European Tour by winning the Carlsberg Malaysian Open, an event which was co-sanctioned with the Asian Tour.

In 2006, he received a special invitation to play in the Masters Tournament. He was thesecond Thai to play in the Masters after Sukree Onsham. By doing so, Thongchai became thefirst Thai to play in all four major championships.

He topped the Asian Tour order of merit for a third time in 2009.

He won for the fifth time on the European Tour in June 2012 at the ISPS Handa Wales Open.

He qualified for the 2015 Presidents Cup squad for the first time. With this, he became the first player from Thailand to earn the honour.

In September 2015, he won his seventh European Tour title at the Porsche European Open in Germany.

He claimed his eighth European Tour victory in July 2016, with a four stroke victory at the Open de France.

FORBES RELEASES SIXTH ANNUAL LIST OF THE WORLD'S MOST INNOVATIVE COMPANIES 2016

Forbes released the sixth annual list of The World's Most Innovative Companies 2016. The list ranked companies using an algorithm to measure investor enthusiasm.

The list is topped by Tesla Motors for the second consecutive year. Moreover, five major Indian companies including Asian Paints, Hindustan Unilever, Tata Consultancy Services, Sun Pharma and Larsen & Toubro have been ranked among other companies in the list.

Highlights of the list

• Tesla Motors tops the list for the second consecutive year, followed by  Salesforce at the second position in the list.

• Regeneron Pharmaceuticals grabbed the third spot in the list, followed by Incyte at fourth place and Alexion Pharmaceuticals at fifth place.

• Innovation upstarts like Under Armour Inc. at sixth position and Monster Beverage Corp. at seventh position have dethroned former innovation leaders in their field like Nike and Coca Cola.

• Amazon.com fetched the eleventh spot in the list by outdistancing Walmart.

• Life science and biotechnology companies occupy half of the top ten spots on the list.

• Nine of the top ten companies on the list are US based.

Indian Companies on the List

• The list encompasses five Indian companies including Asian Paints, Hindustan Unilever, Tata Consultancy Services, Sun Pharma and Larsen & Toubro.

• At number 18, Asian Paints is the highest-ranked Indian company on the list, featuring on the list for the fourth time in a row.

• Hindustan Unilever  fetched the 31st spot, Tata Consultancy Services got the 66th spot, Sun Pharmaceutical Industries ranked at 73rd position and Larsen & Toubro stood at 89th spot.

About The World’s Most Innovative Companies list

• The World’s Most Innovative Companies list demonstrates creative disruption and how new players come in, innovate and garner the attention of investors.

• It consists of firms that investors feel are most likely to come up with the next big innovation.

• The 100 companies ranked on the list are based on their creative disruption, potential for innovation and investor interest.

• To be included on the list, firms need seven years of financial data and 10 billion US dollars in market cap.

 

 

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Last Updated on Tuesday, 30 August 2016 06:24