The Hindu Review Daily Gk Update : 5th April 2019
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♦ UAE confers prestigious Zayed Medal on Narendra Modi
- The United Arab Emirates (UAE) on Thursday honoured Prime Minister Narendra Modi with the prestigious Zayed Medal for giving a “big boost’ to bilateral strategic ties between the two countries.
- UAE President Sheikh Khalifa bin Zayed Al Nahyan conferred the award, the highest decoration awarded to kings, presidents and heads of states, on Mr. Modi.
- “We have historical and comprehensive strategic ties with India, reinforced by the pivotal role of my dear friend, Prime Minister Narendra Modi, who gave these relations a big boost. In appreciation of his efforts, the UAE President grants him the Zayed Medal,” Crown Prince of Abu Dhabi Mohamed Bin Zayed tweeted.
♦ South Korea to launch world’s first national 5G network
- South Korea launches the world’s first fully-fledged 5G mobile networks on Friday, a transformational leap that already has superpowers sparring for control of an innovation that could potentially change the day-to-day lives of billions of people.
- The superfast communications heralded by fifth-generation wireless technology will ultimately underpin everything from toasters to telephones; from electric cars to power grids.
- But while the South has won the race to be first to provide the user experience, that is only one part of a wider battle that has pitted the United States against China and ensnared giants including Huawei.
♦ RBI first Bi- Monthly Monetary Policy (2019-20)
- RBI’s monetary policy committee (MPC), led by Governor Shaktikanta Das, on Thursday announced a 25 basis points cut in the short-term lending rate, also known as repo or repurchase rate, in its first bi-monthly rate review of financial year 2019-20. The repo rate now stands at 6 per cent.
- This was the second back-to-back rate cut by the six-member MPC ever since Das was appointed Governor. The move made India the only country in Asia to have cut interest rates twice in three months.
- GDP growth for FY20 cut to 7.2 per cent from 7.4%
- CPI inflation target revised downward to 2.4% from 3%
♦ NATO ministers meet to celebrate 70th anniversary amid rifts
- NATO foreign ministers are meeting in Washington to celebrate the alliance’s 70th anniversary amid rifts between members over security and trade issues.
- Secretary of State Mike Pompeo opened the meeting Thursday with an appeal for unity to confront “great power” challenges from Russia, China and Iran.
- But a deepening dispute with Turkey over its planned purchase of a Russian air defence system and US demands for allies, particularly Germany, to boost their defence spending threatened to overshadow the proceedings.
♦ NuGen Mobility Summit 2019
- The International Centre for Automotive Technology (ICAT) is organizing a NuGen Mobility Summit, 2019, at Manesar, NCR, from 27th to 29th November 2019. The objective of the Summit is to share new ideas, learnings, global experiences, innovations and future technology trends for faster adoption, assimilation and development of advanced automotive technologies for a smarter and greener future. This event will help in building a platform for bringing together all stakeholders in the automotive industry to understand global advancements in technologies.
- The Summit is being organized in association with SAENIS, SAE INDIA, SAE International, NATRiP, DIMTS, Department of Heavy Industry, Ministry of Road Transport and Highways, SIAM and ACMA. More than 2500 participants and over 250 exhibitors are expected to take part in the Summit.
♦ Alibaba-backed Paytm gets SEBI nod for broking
- Alibaba-backed Paytm has now received an approval from market regulator SEBI to become a stock broker. Paytm will be the first brokerage house in India to be backed by a Chinese company, the regulatory officials told BusinessLine.
- Additionally, Paytm Money has also signed a partnership with the BSE and the NSE. In an official blog, the company wrote, “We will be introducing new capabilities and offerings on our platform, such as trading in equities & cash segments, derivatives, and exchange-traded products.”
- Paytm Money currently offers its users mutual fund investments. The company claims to have 30 crore registered users for its wallet or money transfer service. It may offer trading in shares mainly through mobile app, sources said.
♦ Sahaj Grover retains Boardwalk Pearson chess title
- In keeping with the expectations, top seed Sahaj Grover retained the Boardwalk Pearson Grandmasters chess tournament after aggregating seven points from 10 rounds in Port Elizabeth.
- Sahaj, who ensured the title with a round to spare, drew the final round with Belarus GM Sergey Kasparov to top the six-player double round-robin league.
- Rated 2511, Sahaj remained unbeaten. He scored four wins, including both encounters against second seeded Turkish GM Kivanc Haznedaroaglu, rated 2472.
- There was a two-way tie for the runner-up spot at 5.5 points. French GM Thal Abergei was adjudged second on superior tie-break score as compared to Kasparov.
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