Saturday, 9 November 2013

Current Affair Updates: 8th November 2013

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International Affairs
• Young Indian-American and Democratic Party nominee Raj Mukherji has come up with an emerging victory after winning the State Assembly polls in New Jersey. After this election 29 year old Mukherji has become one of the youngest members of State Assembly. Kolkata-born Mukherji, who is a former Jersey City Deputy Mayor, has also become the first-ever Bengali state legislator in the US.

• Following the footsteps of the biggest social networking site Facebook, Twitter, a wildly popular micro-blogging social network has chosen to sell its share. Twitter’s share was listed on the New York Stock Exchange (NYSE) on Thursday. Its shares opened at $45.10 a share which is around 73 percent above its USD26 per-share initial offering price. Last year Facebook has issued its share so Twitter will have to give tough competition to Facebook. After listing in NYSE, company issued seven crore share for its investors.

National Affairs
• According to the Wealth-X-UBS billionaire census report 2013, India has 103 billionaires. It’s worth to be noted that India’s billionaire population has decreased by 5.5 per cent while the net worth of an average billionaire in India is USD 1.7 billion. On the same note, India’s financial capital Mumbai has 30 billionaires.

• The Indian military has successfully test fired its indigenously developed nuclear-capable Agni-I ballistic missile. The surface-to-surface and single-stage missile with a strike range of 700 km was test fired from (Balasore) Odisha coast. The missile was launched by the Strategic Forces Command (SFC).

Awards and Honours
• Bollywood king Shahrukh Khan has won the title of India’s Most Attractive Man, according to a survey conducted by Trust Research Advisory (TRA). The research survey was conducted by TRA in 16 cities of India to find out ‘India's Most Attractive Personality’. Second, third and fourth position was followed by bollywood megastar Amitabh Bachchan, cricketer Mahendra Singh Dhoni and bollywood actor Aamir Khan respectively.

• Another achievement for Oscar-winning Indian composer AR Rahman as a street has been named after him. (Allah-Rakha Rahman Street) which is named after Rahman is in Markham, Ontario, Canada.

• India defeated West Indies by an innings and 51 runs in the first test match at Eden Gardens, Kolkata on day three. Now India takes lead in the two test match series with 1-0. India made 453 runs in their first inning while West Indies team was trailing behind 219 runs. In the series, Mohammad Shami made a record by taking nine wickets, the most by an India fast bowler on debut.

• India got the opportunity to host Men’s hockey world cup which will be held in 2018 while the 2018 women's World Cup will be held in England. The news was declared by the International Hockey Federation (FIH).

Economy and Finance
• Tata Coffee, subsidiary of Tata Global Beverages under the leadership of Cyrus Mistry faced net loss of 12.88 crore at the second quarter ended on September.
The company faces loss after making provisions for diminishing value of its investment in US. It’s also worth to be noted that company had gained profit of Rs 36.84 crore in the July-September quarter of last fiscal, 2012-13.

• Global rating agency Standard & Poor’s has warned by stating if the newly elected government fails to come up with an incredible plan to increase the economy, then the country’s sovereign rating may lower down.
S&P has stated that new rating will be given post elections in 2014 when the government will announce its new policies. With the negative outlook, the agency has rated ‘BBB (-)’. This rating is supposed as a lower level of rating for investment purpose. If a country goes a notch below, then the country will be rated in junk category which can hurt foreign investment flow, while it will become difficult for Indian corporate to borrow from abroad.

• Central Bank of India has opened its one more representative branch in Hong Kong. The third largest public sector lender has opened its liaison office to cover huge business potential in the city.

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