Current Affairs Today 7th August 2018 | Current Affairs News

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CURRENT AFFAIRS: IMPORTANT DAYS

National Handloom Day: 7 August

  • The National Handloom Day is being observed every year on 7 August to honor the handloom weavers in the country and also carter an impetus to India’s handloom industry. This year it was the 4th edition of the National Handloom Day after it was instituted in 2015.

International Lighthouse Day

  • International Lighthouse Day is observed annually on August 7, National Lighthouse Day honors the beacon of light that for hundreds of years symbolized safety and security for ships and boats at sea.

Government extends deadline for imposing duty hike on 29 US products by 45 days

  • Union Finance Ministry has further extended deadline on imposing import duty hike on 29 products, imported from United States (US) by 45 days till September 18, 2018 from earlier August 4, 2018. This decision for extension of retaliatory measures for another 45 days was taken based on suggestion of Union Commerce Ministry.
  • It also comes after some positive expectations from ongoing talks between two countries as they are wrapping up negotiations on mutually-acceptable trade package for boosting India-US trade through greater market access.

CURRENT AFFAIRS: NATIONAL

GST council announced Cashback For Digital Transactions

  • Finance Minister Piyush Goyal announces 20%  Cashback upto Rs 100 for the Digital Transactions done via BHIM, Rupay or USSD mode. The main aim of the meeting on the concerns and suggestions of the Micro, Small and Medium Enterprises. About GST Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and service.

IIT-Madras develop first indigenous microprocessors under Project Shakti called RISECREEK

  • Computer scientists from Indian Institute of Technology (IIT), Madras have developed first of family of six industry-standard microprocessors under Project Shakti. The initial batch of 300 chips have been named RISECREEK and have been fabricated at Intel’s facility at Oregon, US for free to run Linux operating system.
  • Project Shakti was started in 2014 as IIT-M initiative and part of it is funded by Ministry of Electronics and Information Technology.

CURRENT AFFAIRS: INTERNATIONAL

Sri Lanka’s Hambantota to become Indian Ocean’s leading port

  • Sri Lanka’s Hambantota portis gearing up to become a leading port in the Indian Ocean region. The location of the port had always been extremely advantageous as it was located just a little less than half a nautical mile from the sea lanes.
  • China Merchants Port Holdings (CM Port) entered into partnership with the Sri Lanka Ports Authority in July last year to develop and manage the port.

CURRENT AFFAIRS: STATE

Andhra Pradesh CM Naidu inaugurates world’s first high energy storage device

  • Andhra Pradesh Chief Minister unveiled the world’s first-ever high energy storage device in Amaravati, Andhra Pradesh.The thermal battery, first-of-its-kind anywhere in the world, is a revolutionary and disruptive technology patented by Dr. Patrick Glynn in 2016 in India.
  • Manufactured by the Bharat Energy Storage Technology Private Limited (BEST), the first-of-its-kind cell is aimed at boosting up renewable sources of energy production, instead of non-renewable fossil fuel-based energy generation.

Andhra govt, Holytech sign MoU

  • Andhra Pradesh governmenthas signed a memorandum of understanding (MoU) with electronics giant, Holytech. Under the terms of the agreement, Holytech will set up its plant in 75 acres land in Tirupati and Chittoor districts, against an investment of Rs. 1400 crores.
USEFUL INFO
Andhra Pradesh Capital Hyderabad, Amravati
CM Chandrababu Naidu
Governor ESL Narashiman

Defence Minister launches Defence India Startup Challenge in Bengaluru, Karnataka

  • Defence Minister Nirmala Sitharaman launched the Defence India Startup Challenge in Bengaluru, Karnataka. Recognising the first set of incubators for these challenges the ministry has also signed an MoU with 5 incubators. IIM Ahmedabad, IIT Mumbai, Forge IIT Madras, and T hub who will work in tandem to provide solutions for defence requirements in Airforce, Navy and for Army.
  • She also launched SPARK (support for prototype and research Kickstart)in defence, framework for IDEX partners, and promotion of startups under Make II procedure.
USEFUL INFO
Karnataka Capital Bangalore
CM Kumarasamy
Governor Vajubai Rudubai Wala

CURRENT AFFAIRS: BANKING AND FINANCE

President gives assent to Various Bills, 2018

· Fugitive Economic Offenders Act, 2018

The new law defines fugitive economic offender (FEO) as any individual against whom warrants for arrest is issued for his involvement in select economic offences involving amount of at least Rs 100 crore or more and has left India so as to avoid criminal prosecution. It allows designated special court to declare person as fugitive economic offender and to confiscate his property, including benami ones. It vests all rights and title in confiscated property from date of the confiscation order in central government and it will be free from all encumbrances. Enforcement Directorate (under Ministry of Finance) will be investigative agency under the Act.

· Negotiable Instruments (Amendment) Act, 2018

President also gave assent to Negotiable Instruments (Amendment) Act, 2018. It is aimed at allowing a court to try offences related to cheque bounce expeditiously and direct the drawee to pay a minimum of 20% of  cheque amount as interim compensation.

·State Banks (Repeal and Amendment) Act, 2018

President also gave assent to State Banks (Repeal and Amendment) Act is to repeal two other laws State Bank of India (Subsidiary Banks) Act, 1959 and State Bank of Hyderabad Act, 1956. It further amend the State Bank of India Act of 1955.

CURRENT AFFAIRS: BUSINESS

Google Launched its mobile operating system — Android 9 P or Android 9 ‘Pie’

  • Google has rolled out the ninth version of its mobile operating system — Android P or Android ‘Pie’ — and it wants to take care of your “digital wellbeing”.
  • Pie follows Oreo, Nougat, Marshmallow, Lollipop, and so on, and continues Google’s unique tradition of naming Android versions with sweet treats. But Pie is different because, as Google says, it has “artificial intelligence baked in” , making the operating system simpler and more tailored to each user.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

PepsiCo’s Indra Nooyi to step down as CEO in October

  • Indian origin business executive Indra K. Nooyi will step down as the Chief Executive of global food and beverages major PepsiCo, Inc.in October. However, Nooyi will remain the Chairman of the company until early 2019 to ensure a smooth and seamless transition.
  • President Ramon Laguarta, 54, will succeed the 62-year-old Nooyi effective Oct. 3, becoming Pepsi’s sixth CEO. Nooyi will remain as chairman until early 2019.

Ajay Data: First Indian to get elected as ICANN ccNSO council member

  • The nominating committee of Internet Corporation for Assigned Names and Numbers (ICANN) has selected Ajay Data as new council member of Country Code Supporting Organisation (ccNSO). With this, he becomes first Indian to get selected as a member of ccNSO, which is policy development body of ICANN for ccTLD (country code top-level domains) issues and represents all country code top level domain operators from around the world. He has been selected for two-year term and will take up position during ICANN 63 Meet in Spain in October 2018.

Supreme Court to Get three Women Judges for the first time

  • After the central government cleared the elevation of Madras High Court Chief Justice Indira Banerjee.  Other two judges are R Banumathi and Indu Malhotra. Overall There are 22 male judges including two new male appointees in Supreme court.

CURRENT AFFAIRS: MOU

PHDCCI And CNI Sign MoU To Set Up Indo-Nepal Centre

  • PHD Chamber of Commerce and Industry (PHDCCI) and Confederation of Nepalese Industries (CNI) have signed an MoU to establish India-Nepal Centre in Kathmandu, Nepal. It will further strengthen economic engagement between the two countries.
  • The MoU aims to promote Indian investment in Nepal, Work with Indian ventures in Nepal to resolve problems being faced by them, Promote industrialization in Nepal and provide training to Nepali entrepreneurs.

CURRENT AFFAIRS: SUMMIT AND CONFERENCE

ASEAN Foreign Ministers Meet Held In Singapore

  • Singapore Prime Minister Lee Hsien Loong chaired the 51st Association of Southeast Asian Nations (ASEAN) Foreign Ministers meeting in Singapore. The main aim of the meeting is to meet the need for ASEAN countries and also trade union setup between United States and its long-time trading partners, including China, the EU and Canada.

CURRENT AFFAIRS: MOBILE APP AND PORTAL

Online system launched to manage road construction bids

  • The central government launched an online management system – Bidder Information Management System (BIMS) – to expedite land acquisition and the bidding process for road construction.
  • The portal will work as a database of information about bidders covering basic details, civil works experience, cash accruals and network, and annual turnover.

CURRENT AFFAIRS: DEFENCE

Army on track for BIMSTEC exercise in September

  • The Indian army has conducted the final co-ordinating conference for the Joint Military Exercise (MILEX-18) in Pune. MILEX-18 will be held at the Foreign Training Node at Aundh Military Station in Pune, Maharashtra in September.
  • The armies of all seven BIMSTEC countries — India, Sri Lanka, Bangladesh, Bhutan, Nepal, Thailand and Myanmar — will be participating in the exercise.

Maitree 2018: India, Thailand joint military exercise held in Thailand

  • Joint military exercise Maitree 2018 between Indian Army and Royal Thai Army was conducted in Thailand from 6 to 19 August 2018. It contributed immensely in developing mutual understanding and bonhomie between armies of both countries in order to counter terrorism.

ISRO postpones launch of Chandrayaan-2 mission

  • Indian Space Research Organisation (ISRO) has postponed Chandrayaan-2, India’s second mission to moon to January 2019. This will be second time mission has been postponed. The ambitious mission was earlier planned to be launched in April 2018 and was later fixed for October 2018. With this delay, India may lose fourth position in the world for soft-landing on the moon to Israel as it too planning to launch moon mission in December 2018.

CURRENT AFFAIRS: SPORTS

Sports Minister welcomes Webb Ellis Cup on maiden India visit

  • Sports Minister of India, Col. Rajyavardhan Singh Rathore, launched the Rugby World Cup 2019 Trophy Tour in India, welcoming the Webb Ellis Cupto Delhi.
  • This is the coveted trophy’s first visit to India as part of the Rugby World Cup 2019 Trophy Tour, which is visiting 18 nations in the countdown to Japan 2019, the first Rugby World Cup to be played in Asia.

Rafael Nadal maintains 1st spot in ATP rankings

  • Spain’s Rafael Nadal continued to lead the men’s Association of Tennis Professionals world singles rankings released on 6th August, 2018 with 9,310 average points, ahead of Switzerland’s Roger Federer.

About 65,000 Indonesians performed poco poco dance to promote Asian Games 2018

  • Indonesia’s Capital city Jakarta and the city of Palembang on Sumatra will jointly host Asian Games from August 18, 2018. Indonesian president Joko Widodo along with 65,000 Indonesians performed a mass dance through the streets of Jakarta to promote the Asian Games 2018 and try to set a world record along the way. Poco-poco is the original culture of Indonesia and it’s a native dance.

Gaganjeet Bhullar won European Tour Title

  • Gaganjeet Bhullar golf player won around 9 Asian Tour titles. He became the most successful Indian player on Asian Tour. He defeated Anthony Quayle of Australia.

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