NATIONAL
UPDATES:
1. National Press Day observed on 16 November : National Press Day is
observed on 16 November every year.On this day, Press Council of India
(PCI) started functioning as a moral watchdog.The PCI was first set up in the
year 1966 by the Parliament on the recommendations of the ‘First Press
Commission’.The PCI has been mandated by Parliament to improve the standards of
journalism and maintain its freedom.
2.
Tribunal to decide on ban on 2 militant groups : The Government of India has
set up a tribunal for adjudicating whether or not two Tripura-based militant
outfits should be declared banned organisations under the law.The two militant
outfits are National Liberation Front of Tripura and All Tripura
Tiger Force.The tribunal will be headed by Delhi High Court Judge Justice
Suresh Kait.
3.
Food Park in Aurangabad district inaugurated : Union Minister for Food
Processing Industries Harsimrat Kaur Badal inaugurated the second Mega Food
Park in Maharashtra on 15 November 2018.The Food Park is located in Paithan
Taluka of Aurangabad district, Maharashtra.The first Food Park was
inaugurated on 1st March 2018 in Satara district, Maharashtra.The Mega Food
Park Scheme is implemented by Ministry of Food Processing Industries
INTERNATIONAL
UPDATES:
1. China builds an ‘artificial sun’ : China has built an
‘artificial sun’ that reaches temperature six times that of the core of the
sun.The reactor named ‘Experimental Advanced Superconducting Tokamak’ (EAST) is
designed to replicate the processes of the sun as part of a project to turn
hydrogen into cost-effective green energy.
It involves fusion of hydrogen atoms together to
form heavier elements, such as helium
2. Tajikistan launched a hydro-electric project : Tajikistan inaugurated a
US$ 3.9 billion ‘Rogun hydro-electric project’ on 16 November 2018.It has
been built on the Vakhsh River in southern Tajikistan.The project will enable
Tajikistan to eliminate domestic energy shortages and export electricity to
Afghanistan and Pakistan.The first of six turbines in the Rogun hydroelectric
dam went online on 16 November 2018.
3.
Africa’s first ever high speed train unveiled : French President Emmanuel
Macron and Morocco’s King Mohammed VI have inaugurated Morocco’s first
high-speed rail line, the first ever such line in Africa.The king Mohammed
VI named the first line as ‘Al Boraq’.It will connect the economic hubs of
Tangier and Casablanca.The $2 billion project was launched in September 2011.
4.
World Tolerance Summit inaugurated in Dubai : The two-day summit to mark the
World Tolerance Day was inaugurated in Dubai on 16 November 2018.The theme of
the Summit was ‘Prospering from Pluralism: Embracing Diversity through
Innovation and Collaboration’.The summit is expected to focus on the crucial
role of women and the youth in spreading tolerance in their societies.
5.
JICA to fund Bengal power project : Japan International Cooperation Agency (JICA) will
extend Rs. 5,000-crore loan to a 1,000 MW Turga pumped storage project in West
Bengal.The project is coming up in the Ayodhya Hills in Purulia district, West
Bengal.The project is scheduled for completion by 2027.A pumped storage power
plant works as a large storage battery which generates power during peak
periods
6.
International Day for Tolerance : 16 November : The ‘International Day for
Tolerance’ is annually observed on 16 November.The aim of the day is to educate
people about the need for tolerance in the society and to help them understand
the negative effects of intolerance.The United Nations has launched a new
global campaign named ‘TOGETHER’ to promote tolerance, respect and dignity
across the world.
7.
Toxic’ declared Oxford Word of the Year : Oxford Dictionary has declared the adjective
‘toxic’ as the Word of the Year 2018.The adjective toxic is defined as
‘poisonous’ and first appeared in English in the mid-seventeenth century from
the medieval Latin ‘toxicus’.The Oxford Word of the Year is a word or
expression that is judged to have lasting potential as a term of cultural
significance.
OTHER
UPDATES:
BUSINESS/ECONOMY:
1. Exports grew by 17.86% in October 2018 : According to the Ministry of Commerce and
Industry, India’s exports grew by 17.86% to 26.98 billion dollars in
October 2018.India’s exports stood at 22.89 billion dollars in October 2017.The
sectors which recorded healthy growth includes petroleum, engineering,
chemicals, pharma and gems and jewellery sector.
BANKING/FINANCE:
1. World Bank provides US$155.7 million to Nepal : The World Bank provided over US$ 155 million
in financial assistance to Nepal on 14 November 2018. The first project
comprising a credit of US$ 133 million will finance the improvement &
maintenance programme targeting around 477 bridges along Nepal’s strategic
roads network.The second project in the form of a grant of US$ 22.7 million to
support the Food & Nutrition Enhancement Project.
2. Sunil Mehta panel formed ‘Sashakt India AMC’ : Sunil Mehta panel has formed an Asset Management
Company (AMC) for resolving large bad loans.The AMC will be called as ‘Sashakt
India Asset Management’.The panel is now working towards identifying potential
investors for an Alternative Investment Fund (AIF) which will fund the
AMC.Sunil Mehta panel is working for the faster resolution of stressed assets
in public sector banks.