Current Affairs 26th November To 2nd december 2015

• PV Sindhu has won Macau Open Grand Prix Gold Badminton tournament

The Macau Open Grand Prix Gold women's singles title was won by Indian Shuttler PV Sindhu for the third consecutive turn after defeating Minatsu Mitani of Japan.

Sindhu, the two-time World Championship bronze medalist, reached the final of the 120000 dollar event, after defeating another Japanese, Akane Yamaguchi.

• 2015 Davis Cup tennis title won by - Great Britain

The 2015 Davis Cup tennis title was won by Great Britain after defeating Belgium.

Andy Murray played a important role in the victory of the team as he beat Belgium's David Goffin.

Since 1936, it was the first title for the Great Britain.

About Davis Cup

• It is considered as the world cup of tennis and the premier international team event in men's tennis.
• International Tennis Federation (ITF) runs this event.
• The first cup was held in 1990 between the United States and Great Britain.
• Fed Cup is the women's equivalent of the Davis Cup.

• UN chief launched Anticipate, Absorb, Reshape Initiative to build climate resilience

The United Nations (UN) Chief Ban Ki-moon along with the agencies of the UN system on 30 November 2015 launched initiative titled Anticipate, Absorb, Reshape to build climate resilience in the world’s most vulnerable countries.

ii. The initiative was launched during the United Nations climate change conference (COP21) in Paris. The initiative was launched in the wake of economic losses that have increased by more than half over the past decade. Ecosystems, and food and water supplies are under increasing pressure.

• RBI keeps repo rate unchanged in 5th bi-monthly monetary policy review

Reserve Bank of India (RBI) in its fifth bi-monthly monetary policy review has maintained status status quo in key policy interest rate.

The key policy interest rates were kept unchanged on the basis of an assessment of the current and evolving macroeconomic situation in the country.

The Key policy interest rates are

• Repo rate under the liquidity adjustment facility (LAF): unchanged at 6.75 per cent.
• Reverse repo rate under the LAF: unchanged at 5.75 per cent
• Marginal standing facility (MSF) rate and the Bank Rate has unchanged at 7.75 per cent.
• Cash Reserve Ratio (CRR) of scheduled banks: Unchanged at 4.0 per cent of net demand and time liability (NDTL).
• Continuation of liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate.
• Continuation of liquidity under 14-day term repos as well as longer term repos of up to 0.75 per cent of NDTL of the banking system through auctions.

• Maharashtra is biggest state economy: Brickwork Report

As per latest report published by credit rating agency Brickwork Ratings, Maharashtra is the biggest economy among the states in India.

Maharashtra accounts for 16.87 lakh crore rupees in terms of gross state domestic product (GSDP) and is followed by Tamil Nadu and Uttar Pradesh.

Key highlights of Report

• Maharashtra’s GSDP has grown by 11.69 per cent in the financial year 2014-15. It earns approximately 70 per cent of its total receipts through tax revenues highest among the bigger states and is followed by Gujarat and Tamil Nadu.
• Manufacturing sector: In FY 2014-15, Gujarat and Maharashtra accounted for 27.26 per cent and 25.18 per cent of GSDP respectively. They led other state economies in terms of level of contribution from the manufacturing sector.
• Other states with higher manufacturing sector share are Tamil Nadu (19.1%), Jharkhand (18.8%) and Haryana (18.1%).
• Services sector: Karnataka leads in the growth of services sector in India. It is largely attributed to the growth in the IT/BPO/ KPO sector. It is followed by Tamil Nadu, Maharashtra and Andhra Pradesh.
• Fastest-growing states: Bihar (17.06%), Madhya Pradesh (16.86%) and Goa (16.43%).
• Slowest-growing states: Telangana (5.3%), Punjab (10.16%), Rajasthan (11%).
• Agriculture Sector: Though being mainstay sector of most states employing 40-60 per cent of the workforce directly or indirectly, it has been neglected sector.

Brickwork Ratings report is based on multi-state research analysis of finances of all the states. It looks into state government’s willingness and ability to honour debt obligations along with analysis of political, economic, financial, budgetary and institutional parameters.

• German cabinet approves military mandate to fight Islamic State in Syria

The German Cabinet has approved a mandate offering military assistance to fight against the Islamic State (IS) militant group in Syria.

The mandate aims at supporting France and the international alliance in its fight against the IS militant group. Now it requires Parliamentary approval to come into force.

This decision was taken by cabinet after an appeal was made by French President Francois Hollande in the wake of the 13 November Paris attacks carried by the terrorist organisation.

Key facts

• The German mission will include sending Tornado reconnaissance jets, a refueling aircraft and a frigate for one year and can be extended by year.
• Under this mandate Germany could deploy up to 1,200 military personnel to support the international alliance but they won’t actively engage in combat missions.
• Germany will send unspecified number of Tornado aircrafts fitted with surveillance technology for logistics and reconnaissance purpose.
• These aircrafts can take high-resolution photos and infrared images at night and in bad weather and the tanker aircraft for refuelling of planes in mid-air.
• A German frigate will help to protect the French aircraft carrier Charles de Gaulle in the eastern Mediterranean Sea.

• China hosts 1st BRICS media summit

China hosted the first Brazil-Russia-India-China-South Africa (BRICS) media summit in Beijing for creating an alternative media platform for the 5 emerging economies.

25 media organisations participated in the 2 day summit which aimed to create a new institutional framework to benefit the media of five emerging economies of BRICS grouping.

Key facts

• China’s Xinhua news agency is the initiator of the project which adds one more dimension to the BRICS format.
• It was organised in collaboration with The Hindu group of publications, Russia Today International News Agency, the Brazil Communication Company and South Africa’s Independent Media.
• The summit proposed the formation of a BRICS Media Foundation for supporting and protecting journalists belonging to the grouping.

In the first summit, leaders of 25 Media organisations from the 5 BRICS countries pitched for building consensus to deal with climate change, terrorism,and other key global issues.