09 May 2018 - Daily Current Affairs

09 May 2018 - Daily Current Affairs

Nikol Pashinyan elected as new prime minister of Armenia

• Armenia’s parliament elected Civil Contract party leader 'Nikol Pashinyan' as a new prime minister in a 59-42 vote.
• His election comes after Serzh Sargsyan’s resignation as Prime minister of Armenia.
• Armenia is a unitary, multi-party, democratic nation-state with an ancient cultural heritage.

Note:

• Armenia is a country in the South Caucasus region of Eurasia located in West Asia.
• The Prime Minister of Armenia is the head of government and is required by the constitution to determine the main directions of the policy of the Government, manage the activities of the Government and coordinate the work of the members of the Government.

Carlos Alvarado sworn in as Costa Rican president

• Journalist Carlos Alvarado (38-year) has been sworn in as Costa Rica's president.
• In April 2018, He swept to victory in a controversial election against conservative Protestant singer Fabricio Alvarado Munoz.
• President, Alvarado intends to improve employment, education, and health and fight poverty as the Central American nation nears the 200th anniversary of its independence in 2021.
• He also aims to reduce the deficit from nearly 7% of the gross domestic product to less than 3%.

 Note:

• The President of Costa Rica is the head of state and head of government of Costa Rica.
• The President is currently elected in direct elections for a period of four years, which is not immediately renewable.

National Affairs

Suresh Prabhu seeks early operationalization of 56 new airports under UDAN

• According to the Civil Aviation Minister Suresh Prabhu, the early operationalization of 56 new airports under the regional connectivity scheme (UDAN), would be among his focus areas.
• Five airlines including Alliance Air, SpiceJet, TruJet, Air Odisha and Air Deccan, had bagged 128 routes connecting over 30 unserved airports under the first phase.
• under UDAN in the first phase, as many as 70 airports (including 31 unserved and 12 under-served ones) to be connected.
• The UDAN scheme, Ude Desh ka Aam Nagrik, seeks to connect unserved and under-served airports as well as make flying more affordable for the people.

India to host 15th Asia media summit

• India will host the 15th Asia Media Summit in New Delhi (10-12 May 2018 ).
• Over 200 foreign delegates representing 39 countries and over 100 Indian delegates would participate in the event.
• The theme of this summit is “Telling our Stories Asia and More”.
• The objective of the summit to provide a unique opportunity to the broadcasters in Asia to share their thoughts on broadcasting and information.

Note: The annual summit will be organized by Asia-Pacific Institute for Broadcasting Development (AIBD) in collaboration with its partners and international organizations.

Patanjali ranked as most trusted FMCG brand in India

• According to the TRA's Brand Trust Report 2018, Patanjali Ayurved Limited has been ranked as India's most trusted Fast Moving Consumer Goods (FMCG) brand.
• Patanjali Ayurveda had tied-up with Amazon, Flipkart, ShopClues, bigbasket_com, 1mgOfficial, Grofers, and NetMeds.

Note: The Patanjali Ayurved Limited was established in 2006 by Ramdev, along with Acharya Balkrishna.

Union Minister Ravi Shankar Prasad launches a website of Digital India Internship Scheme

• Union Minister Ravi Shankar Prasad has launched the website of Digital India Internship Scheme in New Delhi.
• Under this scheme, 25 interns will be inducted for a period of three months, paid a stipend of 10 thousand rupees per month.
• Mr. Prasad asked officials to train the interns properly and handhold them in such a way that they get the incentive for the future.

Note:

• The internship is an opportunity for a student to secure first hand and practical work experience under the guidance of qualified and experienced Supervisor and Mentor.
• It also aims at active participation in the learning process through experimentation and putting into practice the knowledge acquired in the classrooms.

Nepal grants a license to India’s Satluj Jal Vidyut Nigam Ltd to generate power

• Nepal Govt. has granted power generation license to Indian government-owned subsidiary Satluj Jal Vidyut Nigam Ltd (SJVNL) for Arun-3 Hydropower Project located in Nepal.
• Nepal govt will receive benefits worth Rs. (Nepali) 348 billion from the project as royalty, income tax, customs tariff and free energy in concession period of 25 years.
• The project will also provide 21.9% (197MW s) of the generated energy free of cost to Nepal.

Note: Arun-3 Project is the largest capacity project in the history of hydroelectricity of Nepal, scheduled to be constructed within next five years on Arun river.

Banking and Finance

India fastest growing economy at 7.4% in 2018: IMF

• According to the International Monetary Fund (IMF), India will be the fastest-growing major economy in 2018 with a growth rate of 7.4% that rises to 7.8% in 2019, with medium-term prospects remaining positive.
• The IMF's Asia and Pacific Regional Economic Outlook report, India was recovering from the effects of demonetization and the introduction of the Goods and Services Tax (GST).
• The recovery is expected to be underpinned by a rebound from transitory shocks as well as robust private consumption.
• Medium-term consumer price index inflation is forecast to remain within but closer to the upper bound of the Reserve Bank of India's inflation-targeting band of four percent with a plus or minus two percent change.
• The consumer price increase in 2017 was 3.6% and projected it to be 5% in 2018 -19.
• The Asian region's growth rate was expected to be 5.6% for 2018 and 2019.

International Affairs

US withdrawal from 2015 landmark nuclear deal with Iran

• United State President ‘Donald Trump’ announced US withdrawal from the 2015 landmark nuclear deal with Iran.
• The Iran nuclear deal framework (Obama- era accord) was reached in 2015 between Iran and the P5 +1 (the permanent members of the UN Security Council & Germany) and the European Union.
• According to this framework, Iran would redesign, convert, and reduce its nuclear facilities and accept the Additional Protocol in order to lift all nuclear-related economic sanctions, freeing up tens of billions of dollars in oil revenue and frozen assets.
• Mr. Trump signed a fresh set of sanctions against Iran.