Daily GK Updates - 28th June, 2017

NATIONAL UPDATES:

1.NPPA announces provisional ceiling prices of 761 medicines including anti-cancer & HIV: Bhupendra Singh, the chairman of The National Pharmaceutical Pricing Authority (NPPA), has announced provisional ceiling prices of 761 medicines (including anti-cancer, HIV, diabetes, and antibiotic) with a majority being reduced ahead of the GST implementation. The actual increase or decrease in prices after the rollout of new indirect tax regime is expected to be in the range of 2-3% depending on states.These prices will be notified as formally revised ceiling prices immediately after GST notification.

2. Last date extended for 6 months for conversion of PIO cards: For applying the conversion of Person of Indian Origin (PIO) cards to Overseas Citizens of India (OCI) cards, the Union Govt. has extended the last date for to 31st December 2017. Earlier, the facility was available till 30th June 2017.The PIO card was first implemented in 2002 as a benefit to foreign nationals who could establish at least a third-generation tie to the Indian origin.

International UPDATES:

1. Kaushik Basu takes appointed as President of International Economic Association: Economic Advisor, Kaushik Basu has taken over as the president of the International Economic Association (IEA) for three years. He has served as India’s chief economic adviser and chief economist at the World Bank. At present, Mr.Basu is the C. Marks Professor of International Studies and professor of economics in the College of Arts and Sciences at Cornell University.

2. Cyber-attack that hit Ukraine spreads to other countries: A massive cyber-attack began with Ukraine’s government offices and airports. It has spread to other countries, including India, the United Kingdom, Russia and Spain. Cyber security experts believe that the virus, named Petrwrap or Petya, could be a ransomware attack, similar to the WannaCry breach in May that had affected more than three lakh people.

OTHER UPDATES:

BANKING AND FINANCE:

1. World’s First Automated Teller Machine (ATM) celebrates its 50th Birthday: The world’s first ATM was opened on 27th June 1967 by Barclays Bank in Enfield, London, celebrated its 50th anniversary. To celebrate its the anniversary, Barclays transformed the ATM at its ‘Enfield branch’ into gold. The ATM machines were the brainchild of Scottish inventor ‘Shepherd-Barron’.

SPORTS:

2. Roger Federer  defeats  Alexander Zverev to lift ninth Halle Open title:  In the finals the 2017 Halle Open Men’s Singles title.Swiss Legend ‘Roger Federer’ has defeated ‘Alexander Zverev’ 6-1, 6-3.

3. One-year ban and fined for media remarks – Lasith Malinga: After pleading guilty to a breach of contract by speaking to the media without permission, Sri Lankan fast bowler Lasith Malinga has been suspended for one year. Malinga will also be fined 50% of the match fee from his next one-day International (ODI).

4. India finish second in Junior Shooting World Championship: The Indian shooting squad has finished second at the ISSF Junior World Championship with three Gold, two Silver, and three Bronze medals in Suhl, Germany. India picked up a gold and silver in the team and individual sections of the 25m pistol junior men's event. China topped the tally in the rifle/pistol tournament with 19 medals, including eight gold. India also won the team bronze in the 25m pistol junior women's event.

BUSINESS AND ECONOMY:

5. Google fined  2.42 billion euros by European Commission: The European Commission has fined Google 2.42 billion euro (USD 2.7 Billion) for breaching the anti-trust rules by illegally favoring its shopping service. Google has abused its market dominance by offering an illegal advantage to its another product, its comparison shopping service.

6. Flipkart - the only Indian firm in MIT’s Smartest Companies 2017: On MIT Technology Review’s 50 Smartest Companies list for 2017,E-commerce major Flipkart is the only Indian company on the list.MIT cited Flipkart’s competitiveness against Amazon and its use of artificial intelligence to improve product search on its website the main reasons for this place.