February 3 Current Affairs

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  1. U-19 World Cup final: Man of the Match Manjot Kalra’s century propels India to 8-wicket win
  • A brilliant century by Manjot Kalra, backed up by able bowling performances by Ishan Porel, Shiva Singh, Ankul Roy and Kamlesh Nagarkoti sealed the deal for the Indian side in the ICC U-19 World Cup final at the Bay Oval on Saturday.
  • Even with a short rain-delay during the Indian innings, the Rahul Dravid-coached team did not lose their momentum.

Takeaways

  1. The 2018 ICC Under-19 Cricket World Cup was an international limited-overs cricket tournament that was held in New Zealand from 13 January to 3 February 2018.
  2. Runners-up –  Australia.

2. CBI files plea in trial court for further probe in Bofors case

  • The Central Bureau of Investigation (CBI) has moved an application before a Delhi court seeking a direction to allow it to go for further probe into the  64 crore Bofors payoff case, saying the agency had come across fresh material and evidence.
  • The agency on Friday filed a plea in the apex Court against Delhi HC’s quashing of charges against the accused in the Rs. 64-crore pay-offs case.

Takeaways

  1. The Central Bureau of Investigation (CBI) is the premier investigating agency and security service of India.
  2. Headquarters – New Delhi, India

3. Hindalco’s Q3 net rises 17.5% on higher aluminium prices

  • Kumar Mangalam Birla-led Hindalco Industries reported a 17.5% rise in its third-quarter net profit to 376 crore, driven by higher metal prices.
  • Revenues at India’s top aluminium producer increased 11% to 11,023 crore on macro factors, volumes and by-product realisation. Aluminium contributed 5,323 crore to the revenues and copper 5,701 crore.
  • The company’s EBITDA for the quarter improved 15% to 1,611 crore.
  • EBITDA for aluminium business rose 7% to 940 crore on the back of higher metal prices and volumes, mitigating spiralling input costs. EBITDA for copper business surged 28% to 421 crore, consequent upon higher copper sales, by-product realisation and supportive macro factors.

Takeaways

  1. Hindalco Industries Ltd., an aluminium manufacturing company, is a subsidiary of the Aditya Birla Group.
  2.  Its headquarters are at Mumbai, Maharashtra, India. It is the Flagship company of the company in the metals business.

4. India received $60 billion FDI in last fiscal, Modi at Global Investors’ Summit

  • Prime Minister Narendra Modi on Saturday said his government has undertaken many path breaking economic reforms, making the country the most preferred investment destination with the highest FDI in last fiscal at $60 billion.
  • Inaugurating the two-day ‘Global Investors Summit’ hosted by Assam, Mr. Modi said the NDA government has speeded up the functioning of official machinery and “we want all programmes to be completed before target.”

Takeaways

  1. foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country.
  2.  It is thus distinguished from a foreign portfolio investment by a notion of direct control.

5. Japan launches micro satellite rocket

  • The Japan Aerospace Exploration Agency (JAXA) launched on Saturday the world’s smallest rocket with the ability to put a micro-satellite into orbit, following a failed attempt and several postponements over the last year.
  • The launch of the low-cost rocket — with a height of 10 metres and 53 centimetres in diameter — took place from the Uchinoura Space Centre in Kagoshima prefecture and was aired live on YouTube, Efe news reported.
  • The rocket, an improved version of JAXA’s SS—520, was carrying a micro-satellite weighing three kilograms and was developed by the University of Tokyo to capture images of the Earth’s surface.

Takeaways

  1. Government – Unitaryparliamentaryconstitutional monarchy
  2. Prime Minister – Shinzō Abe
  3. Deputy Prime Minister – Tarō Asō

6. Spice Jet mulls seaplanes on Brahmaputra

  • Low-cost carrier SpiceJet on Saturday said it is exploring possibilities to introduce seaplanes on Brahmaputra in Assam, making the river the largest waterways in the world.
  • “We are exploring possibilities for introducing seaplanes in Assam. With the seaplanes, Brahmaputra can be the largest waterway in the world,” SpiceJet chairman and managing director Ajay Singh said at the inaugural function of the Global Investors Summit 2018.
  • On the air network, Singh said “We propose to connect Assam to Thailand, Myanmar and other ASEAN countries. It will help the region grow economically.”

Takeaways

  1. The Brahmaputra is one of the major rivers of Asia, a trans-boundary river which flows through China, India and Bangladesh.
  2. Name origin: Sanskrit for Son (Putra) of Brahmā

7. Reliance to invest 2,500 crore in Assam, create 80,000 jobs: Mukesh Ambani

  • Reliance Industries chairman Mukesh Ambani  announced an investment of 2,500 crore in Assam in various sectors, including retail, petroleum, telecom, tourism and sports, creating jobs for at least 80,000 people over the next three years.
  • “Today I am happy to announce five commitments for Assam over the next three years. Reliance will invest an additional 2,500 crore to augment its presence in this market,” he said at the inaugural function of the Global Investors Summit 2018.
  • “We are also going to open new offices in all 145 tehsil headquarters across Assam. Our approach has always been to create sustainable livelihood opportunities and have generated 20,000 jobs in Assam,” Ambani said.

Takeaways

  1. Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian business magnate who is the chairman, managing director and largest shareholder of Reliance Industries Limited (RIL), a Fortune Global 500 company and India’s most valuable company by market value.
  2. Through Reliance, he also owns the Indian Premier League franchise Mumbai Indians.

8. Bharathiar University V-C arrested on graft charge

  • Sleuths of the Directorate of Vigilance and Anti-Corruption (DVAC) on Saturday arrested A. Ganapathy, Vice-Chancellor of Bharathiar University, Coimbatore, for accepting bribe from a candidate for appointment to the post of assistant professor.
  • Confirming the arrest of Mr. Ganapathy, a DVAC official said that the Vice-Chancellor accepted  1 lakh as bribe from a candidate, for appointment to the post.

Takeaways

  1. Bharathiar University is a state university in Coimbatore, Tamil Nadu, South India.
  2. Named after Tamil poet Subramania Bharathiar, the university was established in February 1982 under the provision of Bharathiar University Act, 1981 (Act 1 of 1982) and was recognized by the University Grants Commission (UGC) in 1985.

9. Government looks to monetise STC land

  • The State government is planning to allow State Transport Corporations (STCs) to run petrol bunks with the help of public sector oil companies.
  • This will be part of the plan of the government to monetise land owned by the STCs for widening the scope for revenue, according to a Transport Department senior official.

Takeaways

  1. government is the system or group of people governing an organized community, often a state.In the case of its broad associative definition, government normally consists of legislature, administration, and judiciary.
  2. Government is a means by which state policies are enforced, as well as a mechanism for determining the policy.

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