Top Current Affairs of the day: 03 December 2018

Last Updated: December 3, 2018

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  • Microsoft passes Apple to become most valuable company

    December 3, 2018
    Microsoft has surpassed Apple as the most valuable US company with a market value of about $812 billion.
    Apple’s market cap was about $1 billion less. In August 2018, Apple became the first US company with a $1 trillion valuation. Under CEO Satya Nadella, Microsoft has made a years-long bet on cloud computing. This has positioned Microsoft as one of the two dominant players - along with Amazon (AMZN) - in a fast growing market, and propelled the company to its first $100 billion... Read More

    Defence Ministry approves military procurement worth Rs 3000 crore

    December 3, 2018
    The approved deal includes procurement of indigenous BrahMos missiles for two Indian Navy ships that are to be built in Russia. The Defence Acquisition Council also approved the procurement of Armoured Recovery Vehicles (ARVs) for the Indian Army’s main battle tank, Arjun. Jointly developed by India and Russia, the BrahMos missile flies at almost three times the speed of sound.
    Category: Defence

    Centre approves release of Rs 353 crore to Tamil Nadu as relief

    December 3, 2018
    The Centre has approved the release of Rs 353.70 crore to Tamil Nadu as assistance for the damage caused by Cyclone Gaja on November 15 and 16, during which 12 districts of the state were severely affected. Further, assistance will be provided from the National Disaster Response Fund (NDRF), based on the final report of the Inter-ministerial Central Team (IMCT).  
    Category: Indian Affairs

    Venezuela hikes monthly minimum wage by 150% to 660

    December 3, 2018
    Venezuela's President Nicolás Maduro has ordered a 150% increase in the monthly minimum wage to 4,500 sovereign bolivars, worth about 660 at the black market rate. Maduro has now raised the minimum wage 25 times since he took office in 2013. The OPEC nation is in the midst of its worst-ever economic crisis, with acute shortages of food and medicine.
    Category: International

    China, U.S. declare 90-day halt to new tariffs

    December 3, 2018
    China and the United States have agreed to halt new tariffs as both nations engage in trade talks with the goal of reaching an agreement within 90 days, the White House announced after US President Donald Trump and Chinese President Xi Jinping held high-stakes talks in Argentina G20 summit. Mr Trump agreed not to boost tariffs on US$200 billion (S$274 billion) of Chinese goods to 25 per cent on Jan 1 as previously announced. US has imposed tariffs on $250 billion in Chinese goods, and China... Read More

    Govt forms6-member panel to look at selling 149 fields of ONGC, OIL to privatecompanies

    December 3, 2018
    The panel is headed by NITI Aayog Vice Chairman Rajiv Kumar and includes Cabinet Secretary P K Sinha, Economic Affairs Secretary Subhash Chandra Garg, Oil Secretary M M Kutty, NITI Aayog CEO Amitabh Kant and ONGC Chairman and Managing Director Shashi Shanker. The fields will be sold to private companies to boost domestic output. The government gave out 34 fields to private firms by offering them pricing and marketing freedom for oil and gas they produced from the fields in the first round of... Read More
    Category: Indian Affairs

    IOC sets up human rights advisory committee starting in 2024

    December 3, 2018
    The International Olympic Committee IOC has set up an advisory committee on human rights chaired by Zeid Ra’ad al-Hussein, the former United Nations commissioner for human rights starting in 2024. President Thomas Bach said Saturday at meetings in the Japanese capital that “human rights standards” will be included in Olympic host-city contracts beginning with the 2024 Olympic in Paris. Bach suggested the committee would focus on issues like the rights of transgender... Read More
    Category: International

    Bank of Maharashtra appoints A.S. Rajeev as MD and CEO

    December 3, 2018
    The 54-year-old previously served as the Executive Director of Indian Bank and had also been the CFO of Vijaya Bank. He will hold the position for a period of three years or till further orders, whichever is earlier.

    NASA to launch VISIONS 2 to image Earths leaky atmosphere

    December 3, 2018
    NASA is set to launch VISIONS-2 rocket to get a closer look at the how the earth’s atmosphere is leaking into space. The VISIONS-2 mission, Visualizing Ion Outflow via Neutral Atom Sensing-2, is scheduled to be launched on December 4. Understanding atmospheric escape on earth has applications all over the Universe, from predicting which planets might be habitable, to piecing together how Mars became a desolate landscape.
    A sounding rocket makes brief, targeted flights into space... Read More

    Former US President George HW Bush passed away at 94

    December 3, 2018
    George HW Bush became 41st president of the United States in 1989 after serving as vice-president under Ronald Reagan.
    His son, George W. Bush was also elected president and served two terms between 2001 and 2009. George HW Bush presided over the end of the Cold War and routed Saddam Hussein's Iraqi army but lost a chance for a second term after breaking a no-new-taxes pledge.

    WhatsApp awaits RBI approval to expand its payment services

    December 3, 2018
    WhatsApp sought Reserve Bank of India’s (RBI) approval that it can expand its payments services to all its 200 million users in India. The messaging app is waiting for a regulatory clearance to launch full-fledged payments operations in India. It has been almost two years since it first began discussions with the government on its payments services plans. The initiation comes at a time when competitors such as Google have forged ahead with their payments offerings. WhatsApp has drawn... Read More
    Category: Indian Affairs

    Sunil Arora took charge as new Chief Election Commissioner

    December 3, 2018
    Sunil Arora, the senior-most election commissioner, on Dec 2 took charge as the 23rd Chief Election Commissioner, succeeding OP Rawat who demitted office on December 1. Besides the Parliamentary polls, the 2019 assembly elections in Jammu and Kashmir, Odisha, Maharashtra, Haryana, Andhra Pradesh, Arunachal Pradesh and Sikkim will be held during his tenure. He will be in office till October 2021.

    State Bank of Mauritius gets RBI approval for subsidiary

    December 3, 2018
    Mauritius based SBM group granted a license by Reserve Bank of India to operate SBM Bank (India) Limited through Wholly Owned Subsidiary (WOS) mode under the Banking Regulation Act, 1949 with effect from December 1, 2018. Now at present SBM operate its branches in Mumbai, Chennai, Hyderabad, and Ramachandrapuram since 1994.
    It plans to open six new branches in Delhi, Bangalore, Kolkata, Pune, Ahmedabad, and Jaipur by next year.
    Category: Banking & Finance

    India to host G20 summit in 2022

    December 3, 2018
    India is to host the annual G20 summit in 2022 as it will be celebrating its 75th anniversary of Independence. This will be India’s first time to host the G20 summit. The announcement was made by Prime Minister Narendra Modi at the closing ceremony of the 13th G20 summit in the Argentinian capital on 1st December 2018. The Prime Minister thanked Italy for allowing India to play the host as it was to host the summit in 2022.
    Category: International

    Ex Cope India 18, the bilateral military exercise between IAF and the U.S., began

    December 3, 2018
    The Air Forces of India (IAF) and the U.S. began the ‘Ex Cope India-18’, a 12-day military exercise, in the Kalaikunda and Panagarh air bases in West Bengal. The aim is to enhance operational coordination and to provide operational exposure and undertake the mutual exchange of best practices towards enhancing operational capability. This exercise is the fourth edition in the series of bilateral drills between the Indian Air Force and the U.S. Air Force. This is for the first time,... Read More

    Andrs Manuel Lpez Obrador became first leftist president of Mexico

    December 3, 2018
    He became as President and signed an agreement with three Central American counterparts to create a plan to stem the flow of migrants seeking asylum in the USA. About Mexico:- ♦ Capital   –  Mexico City ♦ National language  –  Spanish ♦ Currency  –   Peso (MXN)
    Category: International

    Union Home Minister Rajnath Singh inaugurated the Hornbill Festival of Nagaland

    December 3, 2018
    Union Home Minister Rajnath Singh inaugurated the 10-day-long Hornbill Festival of Nagaland at Naga Heritage Village Kisama on 1st December 2018. More than 60,000 people have visited the Hornbill Festival. The assistant director of Tourism department (Statistics) T. Khakihe Sumi said that altogether 63,032 visitors with 780 foreigners have visited the picturesque venue. The inaugural day had 19,953 visitors. The count increased up to 43,079 on the second day of the festival. The visitors were... Read More
    Category: Festivals

    Raninder Singh becomes first Indian to be elected ISSF Vice President

    December 3, 2018
    The elections were held during the General Assembly meeting of ISSF in Munich in which Raninder secured 161 votes to make it to the coveted position. The 51-year-old Raninder is currently the president of the National Rifle Association of India (NRAI). The NRAI president was also awarded the ISSF diploma of honor gold medal at the General Assembly by the outgoing longest-serving president of the ISSF, Olegario Vázquez Raña, who was at the helm for 38 years. Vladimir Lisin, of... Read More
    Category: Indian Affairs

    Swachhta Pakhwada of Ministry in Civil Aviation, Government of India: Pawan Hans Ltd, Airports Authority of India and Indira Gandhi Rashtriya Uran Akademi awarded the 3 best performing organizations

    December 3, 2018
    Swachhta Pakhwada observed by Ministry of Civil Aviation to highlight the importance of cleanliness to all the employees by citing the example of Father of the Nation, Mahatma Gandhi.
    Shri Rajiv Nayan Choubey, Secretary (Civil Aviation) inaugurated the event and requested the employees to maintain cleanliness around their workstations.
    The event was concluded on 15th November 2018.
    Category: Indian Affairs

    DRDO invites applications from military officers into DRDS

    December 3, 2018
    The Defence Research and Development Organisation (DRDO) invited applications from serving officers of the three services already working with it for permanent absorption as civilian officials into its Defence Research and Development Cadre (DRDS).  The deadline for submitting applications is December 20, after which a committee would shortlist eligible officers based on their research experience to the equivalent ranks and research aptitude, among other criteria. The broad eligibility... Read More
    Category: Defence

    Ministry of Civil Aviation plans to introduce 15 helipads across the country

    December 3, 2018
    Ministry of Civil Aviation plans to introduce 15 helipads across the country to improve tourism prospects. Union Minister of State for Civil Aviation Jayant Sinha said that the helipads will be established in hilly areas to explore the tourist potential in the north and north-eastern parts of the country. While addressing at STEP conclave organized by Prabudha Bharat in Visvesvaraya Technological University (VTU), Belagavi. He also said that the government was committed to improving air... Read More
    Category: Indian Affairs

    Australia Become first Country To Recognise Orphanage Trafficking As Slavery

    December 3, 2018
    Australia becomes the first country in the world to recognize ‘orphanage trafficking’ as a form of modern slavery.
    Children from smaller countries are recruited in orphanages in the West for the purpose of profit through foreign aid.
    Category: International



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