01 August 2017 - Current Affairs

Mukesh Ambani Becomes Asia’s Second-Richest Person

  • Mukesh Ambani has elbowed past Li Ka-shing to become Asia’s second-richest man as investors rallied behind his efforts to arm India’s poor with cheap data-loaded phones. The chairman of Reliance Industries Ltd (RIL) has added $12.1 billion to his wealth in 2017, according to the Bloomberg Billionaires Index.
  • He passed Li Ka-shing, whose empire spans telecommunications, retail, and ports. Jio took just nine months after launching with a free introductory offer to rope in 117.3 million users and become India’s fourth-largest operator, according to government data.
  • Reliance Industries Ltd (RIL) was established in 1966 in Maharashtra.
  • The owner of Alibaba, Jack Ma is the Richest Person in Asia.

World's longest pedestrian suspension bridge opens in Switzerland

  • Spanning an awesome 1621 feet and rising as high as 279 feet, the newly opened Charles Kuonen Suspension Bridge in Switzerland has broken the record for the world's longest pedestrian suspension bridge, according to Zermatt Tourism.
  • The bridge, which has replaced an older bridge that was damaged by falling rocks, was named after its chief sponsor, a psychologist and co-owner of a Swiss winery.

Trump Awarded First Medal of Honor to Vietnam Army Medic

  • An Army medic from Michigan who risked his life multiple times to rescue Vietnam War comrades is the first person to receive the Medal of Honor from President Donald Trump in Washington.
  • Trump presented America's highest military honor to James McCloughan at a White House ceremony.

Government enters into 9 Unilateral Advance Pricing Agreements (UAPAs) with Indian taxpayers in July

  • The Central Board of Direct Taxes (CBDT) entered into nine Unilateral Advance Pricing Agreements (UAPAs) with Indian taxpayers in the month of July 2017. The APA Scheme endeavors to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and determining the Arm’s Length Price of international transactions in advance for a maximum period of five future years.
  • CBDT has signed its first APA with a taxpayer engaged in supplying rigs used in Oil & Gas exploration. The international transactions covered in these nine APAs include provision of software development services, engineering design services, distribution, contract manufacturing, etc.

Sameer Garde named Cisco president for India, SAARC region

  • Tech giant Cisco has named former Philips Healthcare executive, Sameer Garde as president for its India and SAARC operations. He has succeeded Dinesh Malkani.
  • Malkani will remain associated with Cisco as the strategic advisor till the end of September 2017.
  • Cisco Systems is a Networking hardware company based in the USA.

Arvind Panagariya resigns as NITI Aayog Vice-Chairman

  • Arvind Panagariya, the first vice-chairman of Niti Aayog who was considered to be Prime Minister Narendra Modi’s personal pick for economic reforms, announced his resignation. 
  • The 62-year-old Panagariya is an Indian-American economist and Professor of Economics at Columbia University.
  • Chairman of NITI Aayog is Narendra Modi.

Swachh Survekshan-2018 launched to assess sanitation in all 4,041 cities and towns of the country

  • Central Government launched the third cleanliness survey ‘Swachh Survekshan-2018’ to rank all the 4,041 cities and towns of the country based on infrastructure development for improved sanitation services and their sustainability, outcomes, citizen connect and visible impact on ground.
  • Under the survey, launched by Minister of Housing and Urban Affairs, 500 cities with more than 1 lakh population and state and UT capitals will have all-India ranking. Also, 3,541 cities with less than 1 lakh population will have state and zonal rankings.
  • Minister of Housing & Urban Affairs is Shri Narendra Singh Tomar.

Rahul, Manu-Sumeeth clinch titles at Lagos Open

  • Indian shuttler C Rahul Yadav and men's doubles pair of Manu Attri and B Sumeeth Reddy clinched the men's singles and men's doubles title respectively at Lagos International challenge in Nigeria.
  • Rahul surpassed another Indian player Karan Rajan Rajarajan in the final clash to the title at the MoladeOkoya-Thomas Hall of the Teslim Balogun Stadium. In the doubles pair, Manu and Sumeeth, who played at the Rio Olympics, defeated local pair of Godwin Olofua and Anouluwapo Ju won Opeyori.
  • Abuja is the Capital of Nigeria. & The Currency of Nigeria is Nigerian naira.

Summer Olympics: Los Angeles to host 2028 Games and Paris gets 2024

  • Los Angeles reached an agreement with the leaders of the International Olympic Committee on plans to host the 2028 Summer Games. Los Angeles formally announced its bid for the 2028 Summer Olympics after agreeing on a deal that paves the way for Paris to host in 2024.
  • The Los Angeles Olympic and Paralympic bid committee in cooperation with the International Olympic Committee (IOC), announced it recently. The LA bid committee stated that Los Angeles will host the Olympic Games and Paralympic Games 2028.
  • The first modern Olympic Games were held in Athens, Greece in 1896.

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