Current Affairs for 3 May 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- For the first time, Indian Air Force will fly its Sukhoi SU 30 fighter jets from the civilian airports at Assam, West Bengal and Mizoram to improve wartime preparedness.
- The Sukhoi Su-30 are developed by Russia’s Sukhoi.
- Mangaluru, Karnataka has launched an all women police force ‘Rani Abbakka Force’ to handle issues related to women and children.
- The Office of the Principal Scientific Adviser (PSA) to the Government of India and IIT- Delhi have signed an MoU for Centre of Excellence for Waste to Wealth Technologies, in commemoration of 150th birth anniversary of Mahatma Gandhi.
- Reason:- To implement sustainable, scientific and technological solutions for waste management.
- A postage stamp has been released to commemorate the 750th birth anniversary of Sri Vedanta Desikan.
- He is one of most prominent preceptors in ‘Sri Vaishnava’ tradition post Ramanuja period.
- 14th edition of annual Sino-India (Indo-China) border trade started at Nathu La in Sikkim.
- With the launch of ‘Bharat Fibre’, BSNL has become the first operator to start optical fibre-based high-speed broadband service in Pulwama, Jammu and Kashmir.
- This is the first such FTTH (Fibre-To-The-Home) service deployment in the (Kashmir) Valley under this unique revenue share model.
- United Kingdom’s Parliament has, for the first time in world, declared a “Environment and Climate Emergency” to intensify governmental action for climate improvement.
- The UK are legally committed to a 80% reduction in carbon emissions by 2050 (relative to their 1990 levels).
BANKING AND ECONOMY
- Global Foreign Direct Investment (FDI) have fallen to 27% in 2018 to $1.1 trillion as compared to 16% fall in 2017, according to Organization of Economic Co-operation and Development (OECD).
- The FDI in 2018 is equivalent to 1.3% of global GDP indicating the lowest level since 1999.
- Reason: – US tax reforms.
- According to World Gold Council (WCI), Global gold reserves have risen to 145.5 tons in the first quarter of 2019, showing a 68% hike from the previous year.
- Russia remains the largest buyer of gold reserves in the Q1 to replace US dollar and assets dependence as part of a de-dollarization drive.
- India’s demand for gold was at 125.4 tonnes in the Q1 (5% hike from last year)
- De-dollarization Drive is undertaken by several countries to reduce dependence on financial dollarization (reserving the local assets in the form of dollar to avoid price fluctuation and uncertainty in times of inflation) and to promote local currencies.
- Kerala’s Infrastructure Investment Fund Board (KIIFB) is the only state-government body which is participating in the London Stock Exchange (LSE) listing event to list its ‘Masala Bonds’.
- Masala Bonds are rupee-denominated borrowings issued by Indian entities in overseas markets.
- It was first issued in 2014 by International Finance Corporation (IFC) to raise money for infrastructure initiatives in India.
- Bombay Stock Exchange has appointed M Jayshree Vyas its first independent woman Director to its board.
- World Press Freedom Day is observed on May 3rd by United Nations.
- Theme for 2019:- “Media for Democracy: Journalism and Elections in Times of Disinformation”
- Wrestler Bajrang Punia won the Ali Aliyev Wrestling tournament in Russia.
- Former ISRO chairman A S Kiran Kumar has been awarded the France’s highest civilian award – Chevalier de l’Ordre national de la Lgion d’Honneur.
- Reason:- For his contribution to India-France space cooperation.
- International Cricket Council has released ranking of teams for ODI, Test matches and T20I.