General Studies & Current Affairs for Bank, SSC, CLAT, Civil Services and other Competitive Exams

10  December 2014 National 8,500 cr earmarked for telecom network in Naxal-hit, NE states BJP government has earmarked R...

GK & Current Affair Updates: December 10- 2014

10  December 2014

8,500 cr earmarked for telecom network in Naxal-hit, NE states
BJP government has earmarked Rs 5,000 crore for the north-eastern region and Rs. 3,500 crore for the Left Wing extremism-affected states to improve the communication network. This was stated by Ravi Shankar Prasad said recently.

Wto Rules In India's Favour In Steel Dispute With US
Giving relief to the steel industry, the WTO has ruled against the US which had imposed high duty on imports of certain steel products from India. The Appellate Body of the World Trade Organisation (WTO) has ruled that the duty imposed by the US on the Indian steel products is "inconsistent".


High-speed train success fires China’s nuclear export drive
After successfully competing for high-speed rail links abroad, China now wants to develop world class nuclear technology — a move that would not only lighten its carbon footprint, but also help it emerge as a major exporter of atomic power. China has decided  to set up an undisclosed number of shore based nuclear power plants, lifting the bar on new ventures, that was imposed in the aftermath of the March 2011 Fukushima nuclear disaster in Japan.  The London based World Nuclear News website is reporting that days after the Fukushima accident, China’s State Council decided to halt approvals and licencing for new reactors until a safety plan was in place.

Australia pledges $165 million to UN climate fund
Australia has made a surprise pledge of 200 million Australian dollars ($165 million) to a key U.N. climate fund. Expectations of an Australian contribution to the Green Climate Fund were low after Foreign Minister Julie Bishop told that Australia would continue to help developing countries cope with climate change through its own aid program.
But in Lima, Bishop announced that Australia would provide money to the fund as part of its “commitment to play our part in the global response to climate change.” The fund has now received pledges of more than $10 billion.

Prosecutors can appeal Pistorius case verdict
A South African judge has ruled that prosecutors can appeal the acquittal on murder charges of Oscar Pistorius, who was convicted of culpable homicide in the death of girlfriend Reeva Steenkamp. Judge Thokozile Masipa announced the ruling in a Pretoria court. In October, Judge Masipa convicted Pistorius of culpable homicide and sentenced him to a five-year prison term. He could be released from prison to be held under house arrest after 10 months.

Business and Economy

SBI launches first homegrown economic indicator
The country now has another monthly economic index, with the State Bank launching a tool that will primarily track manufacturing activity to offer a forward-looking economic trends. The SBI Composite Index rivals the existing data point from British lender HSBC.

RBI to come out with guidelines on refinance
The Reserve Bank of India (RBI) would shortly come out with guidelines on refinance of existing projects as demanded by the industry, its Deputy Governor S S Mundra said. “There is a demand from the industry for refinance of existing projects. RBI will come out with the guidelines soon,” Mr. Mundra said. He said new projects would get the scope for refinance every five years till the economic life of the projects as already declared.

Cadila launches first cheaper copy of world’s top-selling drug
Cadila Healthcare launched the first biosimilar version of anti-inflammatory medicine adalimumab, the world’s top-selling drug, at a fifth of its U.S. price. The drug’s branded version is sold under the name Humira by U.S. firm AbbVie Inc, and costs $1,000 for a vial in the United States. Humira had sales of $3.26 billion in the quarter ended September, accounting for 65 per cent of AbbVie’s total revenue.


Ton of emotions
Teary-eyed Warner gives special tribute to Hughes with blazing century on Day 1 before India strike back Australia’s David Warner paid a fitting tribute to his deceased teammate Phillip Hughes by cracking a rollicking 145 before India clawed back with three quick blows to share the honours on an emotionally charged match.

SC To Srinivasan: Stay Away From BCCI
The Supreme Court is likely to order a new Committee comprising retired judges or experts to decide quantum of punishment for those involved in the IPL betting scam, including Chennai Super King official Gurunath Meiyappan, who is also the son-in-law of ousted BCCI President N Srinivasan.

Ranji Trophy: J&K upsets Mumbai
Jammu and Kashmir notched up a stunning four-wicket triumph over 40-time champions Mumbai in th Group A Ranji Trophy cricket opener at the Wankhede Stadium