Important Current Affairs 4th July 2016

India’s Biggest Refinery to Cost $30 bn

1. India’s biggest oil refinery that state-run IOC, BPCL, HPCL & EIL plans to set up on the west coast will cost $30 billion or Rs 2 lakh crore.
2. The 60 million tonnes a year refinery will be set up in two phases.
3. The refinery will produce petrol, diesel, LPG, ATF & feedstock for petrochemical plants.
4. Reliance Industries holds the distinction of building the biggest refinery in India till now.

US Reinsurance Group Gets Initial Nod

1. US-based life & health reinsurer Reinsurance Group of America (RGA) has received the first level approval to set up a branch in India.
2. The Insurance Regulatory & Development Authority of India (IRDAI) has approved R-1 (requisition for registration) application of the company.
3. The nod was given by at its board meeting held in Hyderabad
4. The company will now apply for final approval R-2.

France Offer to Revive India Jet Engine

1. France has offered to invest EUR 1 billion to revive India’s combat jet engine project.
2. It has proposed a joint development plan that could see the stalled Kaveri gas turbine powering fighters.
3. The proposal is to use offset credits that would come from Rafale fighter jet deal.
4. Foreign arms companies are mandated to invest a portion of the contract cost in the country’s defence industry.

India to Host World’s First MMA League

1. India will be hosting the world’s first Mixed Martial Arts (MMA) ‘Super Fight League’.
2. The franchise-based league will feature eight teams – Delhi, Uttar Pradesh, Mumbai, Haryana, Bangalore, Punjab, Pune & Goa.
3. The league will be a platform for Indian MMA players to showcase their skills.
4. Each team will constitute nine Indian fighters & three international ones.

Lewis Hamilton Wins Austrian GP

1. Mercedes driver Lewis Hamilton clinched victory in the Austrian Grand Prix following a last-lap collision with Mercedes Formula 1 team-mate Nico Rosberg.
2. Red Bull driver Max Verstappen & Ferrari Kimi Raikkonen finished 2nd and 3rd respectively.
3. Nico Rosberg finished in fourth.
4. Rosberg had won the last two Austrian GPs & started from sixth on the grid after a penalty.

Novak Djokovic Knocked Out of Wimbledon

1. Novak Djokovic has crashed out of Wimbledon in four sets to U.S. star Sam Querrey.
2. The World No.1 & defending champion was beaten 6-7 1-6 6-3 6-7.
3. Djokovic became the first man to win four straight grand slam titles since 1969.
4. It’s the first time that Djokovic  has suffered defeat at a grand slam since the 2015 French Open final where he was beaten by Stan Wawrinka.

Gurpreet Feature in Europa League

1. Indian footballer Gurpreet Singh Sandhu has became the first Indian to play in Europa League.
2. Sandhu was named in Norwegian club Stabaek FC’s squad for their Europa League qualifying match against Welsh Premier League side Connah’s Quay Nomads FC.
3. He is the first ever Indian to play a competitive match for the first team of a top-division European club.

Sagan Wins Stage Two of Tour de France

1. Peter Sagan won stage two of the Tour de France to take the race leader’s yellow jersey from Mark Cavendish.
2. Frenchman Julian Alaphilippe took second with Spain’s Alejandro Valverde third.
3. Reigning champion Chris Froome came home safely in 10thin stage 2.
4. The Tour de France is an annual multiple stage bicycle race primarily held in France
5. The race was first organised in 1903.

Sai Praneeth Wins Canada Open Badminton

1. Sai Praneeth defeated Lee Hyun II of Korea to clinch the Canada Open 2016 Badminton title at Calgary.
2. The Indian shuttler outclassed Hyun in straight games IN 21-12, 21-10.
3. Also, Indian shuttlers Manu Attri & Sumeeth Reddy beat Canadian pair of Adrian Liu & Toby Ng 21-8, 21-14 to clinch the men’s doubles title.
4. The duo gave India its second title after Praneeth’s singles win.

BRICS Meeting on Energy Saving Begins

1. The first meeting of the BRICS Working Group on Energy Saving & Energy Efficiency begins in Visakhapatnam.
2. During the two-day deliberations, the countries will make presentations on measures taken by them in the field of energy saving & energy efficiency.
3. India will also showcase its efforts in energy saving, energy efficiency, in particular the LED street lighting programme.

Modi Pays Tribute To Banda Singh Bahadur

1. PM Modi attended the 300th martyrdom anniversary of Baba Banda Singh Bahadur in New Delhi.
2. The Prime Minister also released a book on Banda Singh Bahadur.
3. Banda Singh Bahadur also known as Banda Bahadur was a Sikh military commander.
4. He assembled a fighting force and led the struggle against the Mughal Empire
5. He abolished the zamindari system & granted property rights to the tillers of the land.

Google Tops ET Best Workplace in Survey

1. Google India has emerged top in the India’s Best Companies to Work For study this year up from 2nd position in 2015.
2. Next in the rankings is credit card major American Express India,
3. Microfinance provider Ujjivan Financial Services has climbed a massive 24 places in the rankings to take the 3rd place.
4. This was according to The Economic Times-Great Places to Work survey.

Haryana to Develop Industrial Township

1. The Haryana govt announced that it would develop a new industrial township,
2. It will spread in over 1,500 acres in Sohna & Manesar areas of Gurgaon, at a cost of $5 billion.
3. MoU was signed between the Haryana Govt & China Fortune Land Development company in the presence of CM Manohar Lal.
4. These projects would be completed within the next 10 years & would generate employment opportunities.

India fall to 75th by Money in Swiss Bank

1. India has slipped to 75th place in terms of money held by its citizens with banks in Switzerland, while the UK remains on top.
2. The US came second with nearly 196 billion swiss Franc.
3. India was placed at 61st place last year.
4. As per Swiss National Bank,the total money held there by foreign clients from across the world fell by nearly 4% to about Rs 98 lakh crore at the end of 2015.

PM Modi Meets India’s Rio Bound Athletes

1. PM Narendra Modi met Rio Olympics-bound athletes in New Delhi.
2. So far, around 100 athletes from 13 sports disciplines have qualified for the Rio Olympics.
3. PM Modi interacted with the sports persons & wish them well for their performance in the world’s biggest sporting arena.
4. Over 200 nations will be participating in the Olympic Games in Rio de Janeiro,Brazil, scheduled to begin on Aug 5.

Great Barrier Reef Named Best Place

1. Australia’s Great Barrier Reef has been named the best place in the world to visit by a key US travel site,News Corp
2. World’s Best Places to Visit for 2016-17 report gave the Great Barrier Reef the top position ahead of Paris.
3. The tourism to the reef contributed almost $3 billion to the nation’s economy.
4. The Great Barrier Reef welcomes more than 1.9 million visitors each year.

Canadian PM March in Toronto Pride

1. Justin Trudeau has made history by marching with tens of thousands of people in Toronto’s Gay Pride parade.
2. By doing so he becomes the country’s first sitting prime minister to participate.
3. Trudeau has marched before but this is the first time he has marched as the prime minister.
4. Pride parades for the LGBT community are events celebrating lesbian, gay, bisexual & transgender (LGBT) culture & pride.

ICC to Apply for Women’s Cricket in CWG

1. The International Cricket Council (ICC) will apply for the inclusion of women’s cricket at the 2022 Commonwealth Games in Durban,South Africa.
2. South Africa won the men’s event when cricket took place at the 1998 Commonwealth Games in Malaysia.
3. The only time the sport has been included in the programme.
4. It is an international,multi-sport event involving athletes from the Commonwealth of Nations.

China Bans Online Media from Fabricating

1. China has banned online media from publishing unverified content especially from the social media.
2. It has banned after the country’s internet regulator punished websites that fabricated stories this year.
3. Online media basing news reports on contents made on social media must verify them before publication.
4. News websites must accredit these sources & they are banned from fabricating stories.