GK Today Daily Current Affairs 18 January 2020

Daily Current Affairs – International

Brazil’s new US$100 million Antarctic base, built by China

Brazil has inaugurated a new US$100 million Antarctic base, built by Chinese company CEIEC to replace a research station destroyed by fire almost seven years ago.

  • The new 48,375 sq ft facility was bigger and safer, with 17 laboratories, a heliport, and other advances.
  • Scientists will use the base to study microbiology, glaciers, and climate, among other areas.
  • Brazil’s programme was set back in 2012 when an explosion in the generator room caused a fire that killed two naval officers and destroyed 70 percent of the building.

First Session of India-Norway Dialogue on Trade & Investment (DTI) concluded

The first Session of India-Norway Dialogue on Trade & Investment (DTI) was convened in New Delhi on 15-16 January, 2020.

  • The session was based on the Terms of Reference (ToR) signed between India and Norway on 8th January, 2019 in New Delhi, during the visit of Prime Minister of Norway.
  • This was the first meeting after the signing of DTI.

Daily Current Affairs – National

State of Art Tejas express train between Mumbai-Ahmedabad flagged off

The state of art- new Tejas Express train between Ahmedabad and Mumbai Central has been flagged off by Gujarat Chief Minister Vijay Rupani at Ahmedabad Railway Station.

  • The train will have stoppages at Nadiad, Vadodara, Bharuch, Surat, Vapi and Borivali en-route to Mumbai Central.
  • The first train under the private sector has world-class comfort and facilities for passengers.
  • The train operated by IRCTC will run between Ahmedabad and Mumbai on a six days a week- basis except Thursday.
  • The second Tejas Express by IRCTC is being called a ‘private’ train since its operational

control is entirely under IRCTC, instead of Indian Railways.

IIM- Indore to give management lessons with Tik Tok

Indian Institute of Management- Indore joined hands with video-sharing application Tik Tok to produce short video modules on management courses.

  • The institute has signed a Memorandum of Understanding (MoU) with Tik Tok to prepare short video modules on communication, strategy, negotiation, marketing among others things.
  • IIM-I will implement these video modules in its different courses.

Daily Current Affairs – Business

3 years after launch, Jio becomes No.1 telecom company by user base, revenue

According to data released by the Telecom Regulatory Authority of India (TRAI), Reliance Jio surpassed all other telecom players to become the largest in terms of the number of subscribers.

  • It added 5.6 million new subscribers added in November 2019
  • In addition to this, the telco held 32.04 percent share in the wireless subscriber segment in November 2019, as against Vodafone Idea’s 29.12 percent and Bharti Airtel’s 28.35 percent.
  • As of November 2019, Jio had 369.93 million subscribers, up from the 364.32 million in the month-ago period.
  • The company replaced Vodafone Idea to become India’s largest mobile service provider with the latest addition to its customer base.

After Iran, UCO Bank chosen to pay Russia

India is set to change the bank it uses to make payments for Russian arms and is likely to route the money through UCO Bank, which is also being used to carry out trade with Iran.

  • The payments were earlier being routed through Syndicate Bank.
  • The new route was necessary due to the merger of Syndicate and Canara banks.
  • UCO Bank, which has been used in the past to make payments for oil to Iran, is likely to get business worth over $4 billion annually.
  • Major projects for which payments will flow to Russia over the next few years include the $5.4 billion contract for the S-400 system, a $3 billion deal to lease another nuclear attack submarine and the $2 billion contract to procure four frigates for the navy.

Exim Bank to raise up to $3 billion from overseas borrowings in FY21

The Export-Import Bank of India (Exim Bank) is looking to raise up to $3 billion (about Rs 21,000 crore) from overseas borrowing in next financial year (2020-21).

  • The bank has raised $1.7 billion (about Rs 11,900 crore) of overseas borrowing through bond issues and foreign loans in the current financial year.
  • It has also raised $350 million in foreign loans so far in FY20.
  • In terms of geographic distribution, 44 per cent bonds were distributed in Asia, 36 per cent in the US and 20 per cent from EMEA (Europe, Middle East and Africa) region.

Points to remember

  • Exim Bank CEO: David Rasquinha
  • Headquarters: Mumbai

Indian Railways, SBI come together to offer doorstep banking in 585 stations

Indian Railways’ South Central Railway(SCR) zone has signed a Memorandum of Understanding (MoU) with State Bank of India (SBI) for ‘doorstep banking’.

  • The signed MoU will help in direct pickup of earnings covering all 585 Railway stations over SCR Zone.
  • With the facility of direct pick up of cash from all the railway stations it will save the tedious and complex activity of movement of cash earnings through ‘cash safes’ by trains.
  • It will help in hassle free collection of traffic earnings by SBI and remittance into Government account avoiding delay in transmission of traffic cash earnings.

BoB and Kotak Mahindra Bank exit Equifax Credit Information Services

State-owned Bank of Baroda (BoB) and Kotak Mahindra Bank has exited from credit information bureau Equifax Credit Information Services for a consideration of Rs 91.03 crore.

  • In a regulatory filing, BoB sold 1,35,00,000 shares of a face value of Rs 10 for Rs 67.43 per unit.
  • Kotak Mahindra Bank also existed from Equifax Credit Information Services.
  • This is part of capital-raising exercise by exiting non-core business.

Daily Current Affairs – Sports

ICC U-19 World Cup Cricket begins in South Africa

The ICC Under-19 World Cup Cricket begins in South Africa.

  • Indian team, under the captaincy of Priyam Garg, will look to defend the title when it begins its campaign against Sri Lanka at the Oval, Bloemfontein.
  • India are placed in Group ‘A’ and will face New Zealand, Sri Lanka, and Japan, who will be making their first-ever appearance in any World Cup.
  • India is the most successful team in the tournament, having won four titles till date, including the last edition in 2018.

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