Important Current Affairs 16th August

• Global Innovation Index 2016 Released
  • Switzerland,Sweden & UK have been placed at the top 3 in the Global Innovation Index, 2016.
  • The index was released  by Cornell University,INSEAD & the World Intellectual Property Org.
  • China joins the ranks of the world’s 25 most-innovative economies.
  • India rises to 66th position from 81 last year.
  • India scored high on tertiary education ,the quality of its universities & scientific publications.
• China Launches ‘Hack-Proof’ Satellite
  • China has launched the world’s first quantum satellite
  • It will help in establish “hack-proof” communications between space and the ground.
  • The satellite was launched from the Jiuquan Satellite Launch Centre in northwestern Gobi Desert.
  • Quantum communication boasts of ultra-high security as a quantum photon can neither be separated nor duplicated.
• July 2016 was Earth’s Hottest in History
  • July 2016 was the hottest month on record according to NASA reports.
  • NASA revealed that temperatures in July peaked above the previous record set five years ago.
  • The previous record-holders were July 2015 and July 2011.
  • Nasa calculated that July 2016 was 1.51 degrees Fahrenheit (0.84 degrees Celsius) warmer than the 1950-1980 global average.
• 1st Facility to Produce Nickel Launched
  • Hindustan Copper Limited (HCL) has inaugurated the country’s first facility to produce nickel.
  • The new facility- Nickel, Copper and Acid Recovery Plant is located at the company’s Indian Copper Complex (ICC) at Ghatshila in Jharkhand.
  • The facility was inaugurated by Balvinder Kumar, secretary, ministry of mines.
  • The metal is primarily used to make stainless steel.
• Haryana to Tap Yamuna Water
  • Haryana CM Manohar Lal Khattar has announced projects to make the water of the Yamuna river available to the state.
  • Govt is preparing five projects to utilize the surplus water of the Yamuna during the monsoon,
  • Govt has already allocated Rs 1,657 cr for the implementation of Swaran Jayanti scheme.
  • Projects will cost of Rs 2,000 cr to make available 5,000 cusecs of water to the people
• CLRI Scientist Bags Abdul Kalam Award
  • Central Leather Research Institute’s Principal Scientist P Shanmugam has bagged the Dr APJ Abdul Kalam Award
  • He was awarded for meritorious services in the Higher Education Dept of Tamil Nadu.
  • The Chief Minister’s Best Practices Award was presented to Thanjavur District Collector N Subbaiyan & Superintendent of Police Mayilvahanan.
  • These awards are presented by the Government of Tamil Nadu.
• A R Rahman Enthrals Audience at UN
  • A R Rahman enthralled a packed audience at the iconic UN General Assembly hall with his renditions of Indian Carnatic legend M S Subbulakshmi’s music.
  • He became only the second Indian artist after Subbulakshmi to perform.
  • The concert was organised by India’s Permanent Mission to the UN on India’s Independence Day.
  • Subbulakshmi was invited to perform at the General Assembly in Oct 1966.
• Govt to Build Museums
  • PM Modi in his I- Day speech has said museums will be built in several states to glorify the role of lesser-known people from tribal communities who contributed to the freedom struggle.
  • This will help India’s young generation to know about tribal history
  • He said the contribution of tribals has not been highlighted as much.
  • He also announced to increase 20% hike in pension of Freedom fighters.
• Govt Releases Postage Stamp on Tourism
  • Minister of State Manoj Sinha has released a commemorative postage stamp on Tourism in India on the occasion of 70th Independence day.
  • the theme tourism was selected on account of tourism sector being an economically important and rapidly growing industry.
  • Tourism is fast emerging, as one of the major sectors of the economy.
  • It is generating huge employment opportunity across the country.
• Niekerk Smashes 400m World Record
  • South African Wayde Van Niekerk smashed Michael Johnson’s long-standing world record .
  • He stormed to Olympic gold in the 400m smashing Michael Johnson’s legendary 17-year-old world record in the process.
  • He win by yards in a new best time of 43.03 seconds, 0.15sec quicker than Johnson’s previous world best .
  • Kirani James of Grenada took silver in 43.76s& American Lashawn Merritt bronze .
• Rahane Enters Top-10 in Batsman’s List
  • Indian batsman Ajinkya Rahane jumped three places to enter the top-10 in batsman’s list.
  • Ravichandran Ashwin maintained top position among all-rounders in the latest Test rankings released by the International Cricket Council (ICC).
  • Rahane, who was 11th in the last list is currently 8th & top position is occupied by Australian skipper Steve Smith.
  • Virat Kohli dropped three places to 16th place.
• Vikas Krishan Bows out of Rio Olympics
  • Vikas Krishan bowed out of the Rio Olympics after losing his quarter-final match.
  • He was defeated by World No 3 Uzbekistan’s Bektemir Melikuziev in the men’s 75kg category.
  • Shiva Thapa (56kg) and Manoj Kumar (64kg) already out, Vikas defeat drew the curtains on the Indian boxing challenge in the Games.
  • It is the second successive time that the male boxers failed to secure a medal.
• Sindhu,Srikanth Reaches Quarterfinals
  • Shuttlers PV Sindhu & Kidambi Srikanth have stormed into the Singles quarterfinals of Rio Olympics.
  • Sindhu made it to the last-8 beating Tzu Ying Tai of Chinese Taipei, 21-13, 21-15.
  • Srikanth defeated Jan Jorgensen of Denmark, 21-19, 21-19.
  • Sindhu & Srikanth need two more wins each to assure a medal.
  • Both, Sindhu & Srikanth will face Chinese shuttlers in the last-8 stage.
• Klishina Wins Appeal to Compete in Rio
  • The lone Russian track & field athlete Darya Klishina has won her appeal to compete at the Rio.
  • The Court of Arbitration for Sport ruled that long jumper Darya Klishina is eligible to take part.
  • CAS has overruled a last minute ban imposed on her by the International Association of Athletics Federations (IAAF).
  • Klishina was the only one of 68 Russians cleared to participate in Rio by the IAAF.
• Exports Better in Goods Diversification
  • India’s exports are better placed in terms of product diversification.
  • India top ten export products account for 58% of total shipments, says a study.
  • The study analysed concentration of top 10 export products for major economies including Hong Kong (89 %),Korea (86 %) & Japan (77 %).
  • Higher the percentage of the country, the more it is concentrated to exports of few products.
• Microsoft Xbox Acquires Beam
  • Microsoft’s Xbox group has announced that it has acquired Seattle-based interactive game streaming service Beam.
  • Xbox is a video gaming brand created and owned by Microsoft.
  • Beam has been acquired for an unspecified sum by Microsoft.
  • Beam was launched 8 months ago by an 18-year-old Matt Salsamendi.
  • Beam interactive game streaming service that lets viewers play along with streamers as they watch.
• Govt Forms Body on Trade Facilitation
  • Govt  has constituted a National Committee on Trade Facilitation (NCTF).
  • It will play lead role in developing the pan-India road map for trade facilitation.
  • It has been constituted in line with the World Trade Organisation (WTO’s) Trade Facilitation Agreement (FTA), which India also has ratified.
  • The Committee comprises will be headed by Cabinet Secretary of India Pradeep Kumar Sinha.
• Gold Import Plunges 52.5% to $4.97 b
  • Gold imports more than halved to $ 4.97 billion in the first 4 months of the current fiscal.
  • Gold imports stood at $ 10.47 billion in April-July of 2015.
  • The contraction in imports helped narrow trade deficit to $ 7.76 billion last month as against USD 13 billion in July 2015.
  • India is one of the largest gold importers & the imports mainly take care of demand of the jewellery industry.
• NSE to Delist 14 Companies from Aug31
  • Top bourse NSE is delisting as many as 14 companies from its platform from Aug 31.
  • Prudential Capital Markets, SIV Industries,SMZS Chemicals & Vibrant Investment are among the companies on the list.
  • NSE is delisting these entities are in the process of winding up their respective businesses.
  • Under compulsory delisting, these firms would cease to be listed & would move to the dissemination board.
• UBI Launches USSD Based Mobile App
  • Union Bank of India has launch an Unstructured Supplementary Service Data (USSD) based *99# mobile application for their customers.
  • It was launched in partnership with National Payments Corporation of India (NPCI),
  • The application provides basic banking facilities like checking account balance.
  • It can be used even without any internet connection as it does not require any data.