Current Affairs 16 May 2018

Dear Aspirants: 

General awareness section of competitive exams covers various concepts like general awareness, general knowledge, Current affairs and general knowledge. Check out our TNPSC Current affairsmaterials for 16 May 2018 that helps you to prepare for various Tamil Nadu Government Jobscompetitive exams like TNPSC, TRB, TET, RRB, UPSC, Banking other Competitive Exam.

President of India presents National Geo-science Awards

  • President Ram Nath Kovind authorities must be mindful of the human side of mining.
  • Addressing the gathering after presenting National Geosciences Awards for 2017 in New Delhi, local communities must benefit from the exploration, extraction, and development of mineral resources.
  • Pradhan Mantri Khanij Kshetra Kalyan Yojana is providing welfare to areas and people affected by mining-related operations.

India Released Grant of NRs 18.07 Crore to Nepal for River Training

  • India released a grant of Nepalese Rupees (NRs) 18.07 crore for river training and construction of embankments along Lalbakeya, Bagmati and Kamla rivers in Nepal.
  • Indian Ambassador to Nepal Manjeev Singh Puri handed over a cheque of the grant to Dr. Sanjay Sharma, Secretary Ministry of Energy, Irrigation & Water Resources, Nepal in Kathmandu.

Sri Lanka swayed by heavy flash flood affecting over 8000 people

  • Lashes of heavy rainfall swayed and created havoc in Sri Lanka’s Galle and Kalutara districts, affecting around 8000 people.
  • Disaster Management Centre’s spokesperson Pradeep Kodippilli said that nearly 7,740 people in Galle District and 635 people in Kalutara District were affected by the flood situation.

IMF reaffirms that India will be the fastest-growing major economy in 2018

  • The International Monetary Fund, IMF reaffirmed today that India will be the fastest-growing major economy in 2018, with a growth rate of 7(point)4 percent that rises to 7(point)8 percent in 2019 with medium-term prospects remaining positive.
  • The IMF’s Asia and Pacific Regional Economic Outlook report said that India was recovering from the effects of demonetization and the introduction of the Goods and Services Tax.

Retail Inflation Surges To 4.58%, WPI At 4-Month High In April

  • The first month of the current financial year has brought some bad news on the inflation front with both retail (Consumer Price Index or CPI) and producer (Wholesale Price Index or WPI) inflation showing a surge raising the possibility of a policy rate hike by the Reserve Bank in the near future.
  • A statement issued by the Ministry of Statistics and Programme Implementation revealed that an increase in fruit and vegetable prices, coupled with egg prices pushed CPI to 4.58 percent in April, from 4.28 percent in March.
  • The Consumer Food Price Index, however, was a tad lower at 2.8 percent in April, from 2.81 percent in March. The latest number has put a break on the slide in CPI since January this year.

Shashank Manohar to serve second term as ICC Chairman

  • Former BCCI President Shashank Manohar will serve a second two-year term as the independent chairman of the International Cricket Council after he was elected unopposed by the governing body’s Board.
  • Manohar became the first independent ICC Chairman in 2016.
  • According to the election process, ICC Directors were each allowed to nominate one candidate, who had to be either a present or a past ICC Director.

Foxconn Unit Writes Off another $40 Million In Snapdeal Investment

  • IH Mobile, the investment subsidiary of Foxconn Technology Group, the world’s largest contract manufacturing giant, has written off an additional $40 million of its $200 million bet on Gurgaon-based online marketplace Snapdeal.
  • The latest write-down comes about nine months after the Hong Kong-listed unit of the Apple iPhone manufacturer announced that it had undertaken an impairment loss of $160 million. In its 2017 annual report, FIH Mobile stated the company had come to the view that its entire $200 million investment in Jasper Infotech, first announced in September 2015, cannot be recovered.

President Ram Nath Kovind visits exhibition on DAE at BARC in Mumbai

  • President Ram Nath Kovind visited an exhibition on Department of Atomic Energy (DAE) technologies at the Bhabha Atomic Research Centre (BARC) in Trombay, Mumbai.
  • He also dedicated several DAE facilities to the nation including Metal-Fuel Pin Fabrication Facility, IGCAR, Kalpakkam and Integrated Centre for Crisis Management, a facility that monitors radiological data from a countrywide network of 504 radiation centers.

IIM-Ahmedabad Launches Bharat Inclusive Initiative

  • IIM-Ahmedabad’s Centre for Innovation, Incubation, and Entrepreneurship (CIIE) launched a Bharat Inclusion Initiative to build knowledge and foster innovation and entrepreneurial activity across areas such as financial inclusion, livelihood, education and health. CIIE at IIM Ahmedabad helps entrepreneurs turn ideas into viable businesses.
  • The initiative will aim at channelizing approximately $25 million over the next 3-4 years towards backing game-changing start-ups leveraging the ongoing digital transformation in India, to create access to services that were hitherto inaccessible for a large segment of Indians.

North Korea cancels high-level talks with South Korea

  • North Korea canceled high-level talks with South Korea, scheduled over Seoul’s joint military exercises with the US.
  • Some 100 warplanes of the US and South Korea began the Max Thunder drills.
  • The North’s official KCNA news agency the exercises were a provocation and a rehearsal for an invasion.
  • The talks with South Korea, which were agreed earlier this week, were to take place at Panmunjom, a military compound in the demilitarised zone between the two countries.
  • Pyongyang also threatened to cancel the much-anticipated summit between its leader Kim Jong Un and US President Donald Trump scheduled on the 12th of next month.
  • A US spokesman there was nothing provocative about the military drills adding that they would continue to prepare for the meeting between Mr. Trump and Mr. Kim.
  • The US and South Korea have always insisted that such drills are purely for defense purposes.

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