10th July 2015 - Important Current Affairs updates

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International Affairs

• Today is Independence Day of The Bahamas.
• • Note : Bahmas got freedom from British on 10th July 1973
  • Important Details about Bahmas
  • • Capital : Nassau
    • Official language : English
    • Monarch : Elizabeth II
    • Governor-General : Marguerite Pindling
    • Prime Minister : Perry Christie
    • Currency : Bahamian dollar (BSD)
• BRICS Summit 2015
• • The BRICS group denounces military interventions as well as imposing economic sanctions that violate international law, the leaders of Brazil, Russia, India, China and South Africa said in the Ufa Trade Union Declaration adopted.
  • Pitching for closer cooperation and coordination among BRICS nations, Prime Minister Narendra Modi has proposed a 10-point initiative that includes India hosting the first trade fair for the grouping and establishing research centres for railways and agriculture.
  • Calling it ‘Das Kadam: Ten Steps for the Future’, Modi put forward new initiatives for the BRICS grouping that is formed by major emerging economies.
  • Those 10 Steps are :
  • 1. BRICS Trade Fair
    2. BRICS Railway Research Centre
    3. Cooperation Among Supreme Audit Institutions 
    4. BRICS Digital Initiative 
    5. BRICS Agricultural Research Centre 
    6. BRICS State / Local Government's Forum
    7. Cooperation amongst Cities in field of Urbanization 
    8. BRICS Sports Council and Annual BRICS Sports Meet
    9. First major project of NDB to be in field of Clean Energy
    10. BRICS Film Festival
• 15th SCO Summit 2015
• • The 15th SCO Summit opened in Ufa, Russia
    
  • SCO : Shanghai Cooperation Organization 
  • Russian President Vladimir Putin hosted the Summit. 
  • Founded in 2001
  • Full Members of SCO : China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan as its full members.
  • Observers : Afghanistan, India, Iran, Mongolia and Pakistan 
  • Dialogue Partners : Belarus, Turkey and Sri Lanka
• Prime Minister Narendra Modi met his Pakistani counterpart Nawaz Sharif on the sidelines of SCO Summit.
• • The bilateral meeting between both the leaders was held after a gap of more than a year.
  • PM Modi & Nawaz Sharif  met for the first time in May last year
  • Highlights of Modi-Nawaz bilateral meeting 
  • • Pakistan agreed to expedite 26/11 Mumbai terror attack case trial. 
    • Condemning terrorism in all forms, India and Pakistan agree to co-operate to eliminate it from South Asia. 
    • A meeting in New Delhi will be held between the two NSAs to discuss all issues connected to terrorism.  
    • Decision for release of fishermen in each other's custody, along with their boats, within a period of 15 days.  
    • Mechanism for facilitating religious tourism.  
    • Prime Minister Narendra Modi accepted Nawaz Sharif's invitation to visit Pakistan next year.

MOUs

• In a strategic tie up to scale up skill development and entrepreneurship initiatives in the country, Ministry of Skill Development and Entrepreneurship (MSDE) has today joined hands with the Ministry of Chemicals and Fertilizers (MCF). 
• • The two Ministries entered into strategic partnership where three Memorandum of Understanding were signed with the three departments under the Ministry of Chemicals and Fertilizers – 
  • • • Department of Chemicals and Petrochemicals (DoC&P), 
      • Department of Fertilizers (DoF) 
      • Department of Pharmaceuticals (DoP). 
    • Note : The MOUs were signed in the presence of Union Minister for Chemicals and Fertilizers Ananth Kumar and Minister of State for Skill Development and Entrepreneurship (Independent Charge) and Parliamentary Affairs  Rajiv Pratap Rudy. 
• India and the United States signed a tax information sharing agreement under a new US law, FATCA, that will enable automatic exchange of financial information between the two nations about tax evaders, from September 30.
• • The pact will cover automatic sharing of information on bank accounts as well as financial products like equities, mutual funds and insurance and is aimed at fighting the menace of black money stashed abroad.
  • Beginning September 30, banks, mutual funds, insurance, pension and stock-broking firms will report their Indian client details to the United States which will be shared with New Delhi. 
  • FATCA : Foreign Account Tax Compliance Act

Business & Economy

• Greece has submitted new bailout reform plans to Eurozone in a last-ditch effort to save the country's collapsing economy and its fragile place in the single currency..
• • Note : Greece is seeking 53.5 billion euros ($59 billion) as part of a new bailout package.
  • Under the proposal, Athens would receive the loans from the eurozone bailout fund, the European Stability Mechanism, or ESM.

People in News

• Russian Cosmonaut Gennady Padalka has achieved a landmark in NASA history by becoming the first man to spend longest time on International Space Station (ISS).  
• • He has set the Guinness World record by spending 804 days by July 2015.

Science & Technology

• Indigenously developed supersonic surface-to-air missile "Akash" was inducted in Indian Air Force.
• • The missile system can target aircraft upto 30 km away, at altitudes upto 18,000 metres. 
  • It has the capability to neutralise aerial targets like fighter jets, cruise missiles and air-to-surface missiles. 
  • Note : Indian Air Force has given an initial contract for eight squadrons of Akash defence system. 
  • • Each squadron has two firing units with four launchers. 
    • Each launcher has a capacity to fire three missiles in quick succession.
  • The Akash system has been developed by the Defence Research and Development Organisation (DRDO) and Bharat Electronics Ltd (BEL).
  • Defence Minister : Manohar Parrikar. 
  • Air Chief Marshal : Arup Raha
• ISRO successfully launched PSLV-C28 carrying 5 UK satellites. 
• • Note : This is the heaviest commercial vehicle launched by ISRO.
• For the first time in India, a system to detect earthquakes and disseminate warnings has been installed in Uttarakhand, where researchers have predicted an earthquake of magnitude 8 or greater.
• • Note : It will issue warnings 1-40 seconds before earthquakes of magnitude 5 occur.

Sports

• Wimbledon 2015
• • Sania Mirza- Martina Hingis entered women's doubles final by beating Raquel Kops-Jones - Abigail Spears.
• India won it's first ODI against Zimbabwe by 4 runs.
• • Ambati Rayudu is the Man of the Match.

Daily Current Affairs updates of July 2105

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