DAILY GK UPDATE 11TH SEPT

1.    World Economic Forum’s “summer Davos” opens in China
i. The World Economic Forum’s “summer Davos” opened in the north-eastern Chinese city of Dalian on Wednesday with a focus on “meeting the innovation imperative” in Asia.
ii. Chinese Premier Li Keqiang was scheduled to deliver a keynote speech on the ruling Communist Party’s planned economic reforms later Wednesday.
iii. “Innovation will play an increasingly important role in driving transformation, and this can only come about through growth that is inclusive of all stakeholders in society,” Schwab told the government’s Xinhua news agency.
iv. More than 1,500 delegates were scheduled to attend the three-day forum, organisers said.

2.    India tops BRICS in super-rich membership : World Ultra Wealth report 2013
i. India has recorded the largest increase in its Ultra-High Net worth Individual (HNIW) club among the BRICS nations in the last one year, with a total of 7,850 super rich people in the country, a report says.
ii. The study focuses solely on persons with a net worth of $30 million and above (after accounting for shares in public and private companies, residential and investment properties, art collections, planes, cash and other assets).
iii. According to the World Ultra Wealth report 2013 by Wealth-X, a global wealth intelligence and prospecting company, India is home to as many as 7,850 high net worth individuals whose collective net worth is $935 billion.
iii. A city-wise analysis shows that more than 90 per cent of India’s UHNW population live in top 10 cities including Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, Pune, Gurgaon and Jaipur.
iv. Mumbai and Delhi, however, dominate with more than 50 per cent of the country’s UHNW population based in one of these two cities, the report said.
v. BRICS comprises Brazil, Russia, India, China and South Africa.
vi. “Despite India’s 1.6 per cent population growth, the country added more UHNW individuals (120) than any other BRICS nations in the past 12 months,” the Wealth—X report said.

Note: India has also the highest number of female millionaires in the world as the country boasts of over 1,250 UHNW women with a combined fortune of $95 billion.

3.    Indonesia moves Miss World final to Bali after protests
i. Indonesia on Saturday said the final of Miss World, later this month, would take place on the Hindu-majority holiday island of Bali instead of near the capital, after days of Muslim hard-line protests.
ii. Thousands took to the streets this week to denounce the decision to hold the beauty pageant in the world's most populous Muslim-majority nation, with protesters burning the organisers in effigy and branding them "infidels". 
iii. The contest opens in Bali tomorrow and later rounds were due to take place in and around Jakarta, with the winner originally set to be crowned at a venue outside the capital on 28th September. 
iv. But the government Saturday said they had decided all events would now be held on Bali, where hard-line influence is almost non-existent and which is used to hordes of foreign tourists sunbathing in skimpy swimwear. 
v. Hard line influence is strong in areas of the main island Java not far from the capital. "All the events will now be held at venues in Bali - it will all be concentrated in Bali, until the closing," coordinating minister for people's welfare, Agung Laksono, told reporters in Jakarta.
vi. Last year, pop sensation Lady Gaga axed a concert after hardliners threatened to burn down the venue and criticised her for wearing only "a bra and panties". 

4.    RBI: Don't use currency notes for making garlands
i. Making garlands of currency notes, a practice followed in Indian marriages and political rallies, has been sought to be discouraged by the Reserve Bank.
ii. "The Reserve Bank of India has appealed to members of public not to use banknotes for making garlands, decorating pandals and places of worship or for showering on personalities in social events, etc," an RBI release said on Wednesday.
iii. Such actions, it said, deface the banknotes and shorten their life.
iv. "...banknotes should be respected as they are a symbol of the Sovereign and public should not misuse them, and help in increasing the life of banknotes," the RBI added.
v. The Reserve Bank also stated that it has been taking all measures to supply clean banknotes across the country and urged the members of public to contribute their mite to its efforts in pursuing a "clean note policy" for the country.
vi. There is no specific provision under the Banking Regulation Act, 1949, or under RBI Act, 1934 to check or prevent such misuse of currency notes.

5.    India extends US$144mn credit line to Liberia
i. India on Wednesday extended a US$ 144 million line of credit to Liberia for development of power transmission and distribution projects to reduce the gap of power shortage in Liberia.
ii. The two countries also agreed to set up a Joint Commission for deepening cooperation and economic engagements. Two MOUs were inked, including one on energy cooperation in oil and gas exploration. 
iii. The four pacts were signed after high-level talks between Prime Minister Manmohan Singh and visiting Liberian President Ellen Johnson Sirleaf in New Delhi on Wednesday. 
iv. New Delhi will also set up an IT Centre, a vocational training centre, a Farm Science Centre and a training centre for women in the field of solar energy in Liberia. 

6.    7th India-Laos Joint Commission Meeting on Bilateral Cooperation
i. The 7th India-Lao Joint Commission Meeting on bilateral cooperation was held in Vientiane on 9 September 2013.
ii. The JMC was held during External Affairs Minister Salman Khurshid's ongoing visit to Lao PDR (Laos) to participate in the 7th India-Lao Joint Commission Meeting (JMC) on Bilateral Cooperation.
iii. An Agreement under Line of Credit for four Irrigation Projects in three provinces in the Lao PDR for 30.94 million US dollars was signed and conversion of another Line of Credit to substitute the Nam Boun-2 hydro power plant by the extension of transmission lines to Thasala-Laksao amounting to 35.25 million US dollars was approved.
iv. The two nations identified agriculture, defence, ICT, culture, education, health, trade and investment promotion, mining as priority areas of cooperation between the two countries that would give further impetus to bilateral relations.
v. Lao has extended financial support to the Nalanda University, which is being developed as a centre of international excellence. Lao reiterated its support to India on UN and other multilateral issues.

7.    Thomas Bach elected President of IOC
i. Thomas Bach of Germany was elected as the ninth President of the International Olympic Committee (IOC).
ii. He is the successor of Jacques Rogge of Belgium, who headed the IOC, since 2001 to 10 September 2013. He was the eighth President of IOC. 
iii. He was elected as the President of IOC after two rounds of votes at the 125th IOC Session in Buenos Aires, Argentina.

Note: The President is elected by the IOC members by secret ballot for a term of eight years, with the possibility to stand for re-election for a second, four-year term. IOC is a 119 years old sport’s governing body. 

About Thomas Bach
• Bach is the first Olympic Champion to head International Olympics Committee as its President. 
• He joined IOC in 1991 and has held many influential roles in the organization 
• Bach aged 59 is a former executive of Adidas

8.    Jhumpa Lahiri’s ‘The Lowland’ on Booker shortlist !          
i. The much-anticipated shortlist for the Man Booker Prize 2013 is out and the Indian-born U.S.-based author Jhumpa Lahiri’s book The Lowland finds a place on it. She is one of six writers whose books have made it to the shortlist.
ii. The other five novels on the shortlist are We Need New Names is by the young Zimbabwean writer NoViolet Bulawayo, The Luminaries by Eleanor Catton, The Harvest by Jim Crace,A Tale for the Time Being by the Ruth Ozeki and The Testament of Mary by Colm Toibin.
iii. The Booker Prize Foundation in its announcement of the shortlist noted that the books are “fiendishly difficult to categorise.”

Note: i. The winner of the 2012 Booker Prize was Hillary Mantel for Bring up the Bodies.
ii. “The Lowland” is the Indian-born U.S.-based author’s fourth novel. Her first “The Interpreter of Maladies” won the 2000 Pulitzer Prize for Fiction. Her second novel, “The Namesake” (2003) was made into a popular film…

9.    Bombay Jayashri to get Indira Sivasailam endowment medal
i. Vocalist Bombay Jayashri has been picked for this year's Indira Sivasailam endowment medal and concert.
ii. The fourth Indira Sivasailam endowment concert will be held at The Music Academy, Chennai on October 12.
iii. The Indira Sivasailam endowment is instituted in memory of Indira Sivasailam. It organises a memorial concert during the Navarathri season every year, recognising an outstanding Carnatic musician with the Indira Sivasailam endowment medal and citation.
iv. The artiste is selected by a panel comprising members from the Endowment’s Committee of The Music Academy, and Smt. Mallika Srinivasan (Chairman of TAFE Limited), the daughter of Indira Sivasailam.
v. Ms. Mallika Srinivasan set up the Indira Sivasailam Endowment Fund in 2010 under the auspices of The Music Academy.

10.  TCS bags multi-million euros deal to improve infrastructure
i. The country's largest software services firm Tata Consultancy Services said it has bagged a five-year multi-million euros deal from SAS Scandinavian Airlines to help transform and optimise its IT infrastructure. 
ii. TCS will implement its propriety cloud-based solutions to simplify and standardise SAS IT landscape and the initiative is a part of the SAS' '4 Excellence Next Generation' strategy, aimed at improving competitiveness of the SAS Group, TCS said in a statement.
iii. SAS Scandinavian Airlines is one of Northern Europe's major airline, with more than 1,100 daily departures to 136 destinations in Scandinavia, Europe, the US and Asia.
iv. TCS has recently been selected for several engagements like TDC in Denmark, Posten in Norway, Nokia in Finland and SAS in Sweden and the Nordic region at large.
v. Present in the Nordic region since 1991, TCS' operations in the region comprise over 5,500 professionals working across Sweden, Finland, Norway, Denmark and Iceland.

11.  Russia Lifted Ban on Import of Non-Basmati Rice and Oilseeds from India
i. Russia lifted the ban on import of non-basmati rice from India on 10 September 2013, which will eventually lead to an increase in the export of non-basmati rise from India. Russia also lifted the ban on the oilseeds apart from non-basmati rice.
ii. India, at present, is the second largest producer of rice in the world with the output of 104.40 million tonnes in the 2012-13 crop year (July-June). 
iii. India exports a considerable quantity of basmati as well as non-basmati rice in foreign markets. The International Grain Council (IGC) in the recent past however estimated that the rice export of India in 2013-14 would be 8.5 million tonnes, which is around 10 percent lower than the 9.4 million tonnes exported in 2012-13.
iv. The overall export of basmati rice to Russia was 789.19 tonnes during 2012-13 fiscal year before the imports were suspended.

Note: i. It is important to note that the Russian Federation had imposed ban on these commodities in December 2012 because of the presence of khapra beetles pest in rice and aflatoxin contamination of peanuts. 
ii. Thereafter, from 23 June 2013 to 30 June 2013, Federal Service for Veterinary and Phytosanitary Surveillance (FSVPS) delegation from Russia inspected the processing units in India, which eventually led to a lift on the ban and resumption of the trade on these commodities between India and Russia. 
iii. It is important to note that khapra beetle, also known as Trogoderma granarium was discovered in certain consignments in early 2012. Khapra beetle is one of the most destructive pests of the world found in the stored products as well as seeds.

12.  Amitabh Bachchan Guest of Honour at 10 Downing Street Charity reception
i. Bollywood legend Amitabh Bachchan was the guest of honour at a reception hosted by British Prime Minister David Cameron’s wife, Samantha Cameron at their official residence for a charity initiative for diabetes.
ii. The reception, held behind the famous black door of 10, Downing Street which has been home to the British Prime Ministers for over 275 years, was to mark the sixth anniversary of the Leicester-based charity ‘Silver Star’.
iii. Launched in 2007, Silver Star is a charity that campaigns to raise awareness of diabetes.
iv. The charity has four Mobile Diabetes Units that carry out important diabetes testing and provide lifestyle and dietary advice.
v. "Diabetes is a ticking time bomb. There are an estimated 62 million Indians with type-2 diabetes and by 2025 there will be almost 100 million with the condition," Keith Vaz MP, Founder Patron of Silver Star said.
vi. The charity is truly privileged to be supported by the legend Amitabh Bachchan. We would not have been able to do this without Amitabh’s support, he said.

NOTE: i. This is not the first time Bachchan has supported the charity. Last year, on the occasion of his 70th Birthday, Silver Star gave Amitabh a unique birthday present of a Mobile Diabetes Unit for the city of Mumbai
ii. The unit, which travels to the city’s most disadvantaged areas giving free diabetes tests, was named ‘Amitabh’ in recognition of his support.

13.  First Sree Narayan Guru Global Secular & Peace Award 2013 presented to Shashi Tharoor
i. The Vice President of India M. Hamid Ansari presented the First Sree Narayan Guru Global Secular & Peace Award 2013 to Dr. Shashi Tharoor, Minister of State for Human Resources Development, Government of India at a function in Thiruvananthpuram, Kerala on 10 September 2013. 
ii. The purpose of award was to honour an eminent public personality who has made important contribution towards building a secular and democratic society as envisaged by Sree Narayana Guru.

About the Sree Narayan Guru Global Secular & Peace Award
The Sree Narayan Guru Global Secular & Peace Award is named after Sree Narayana Guru. Sree Narayana Guru during his lifetime in the late 19th and early 20th century taught and propagated the message of social justice and equality, secularism, freedom from oppression and empowerment of the poor and marginalised through socio-economic upliftment and education. Sree Narayan Guru transformed the social fabric of Kerala by teaching unity and equality of all human beings, irrespective of caste, creed or religion.

14.  Sunila Abeysekera, the Sri Lankan Activist, Died
i. Sunila Abeysekera, the Sri Lankan activist who spent over 20 years documenting human rights violations in Sri Lanka, passed away in Colombo on 9 September 2013 due to long illness. She was 61 years of age.
ii. Sunila Abeysekera was a researcher, advocate, and spokesperson within Sri Lanka.
iii. She was internationally recognised as one of important human rights activists of South Asia.
iv. Sunila Abeysekera was awarded Human Rights Defender Award in 2007 by Human Rights Watch.

15.  Italy, Netherlands seal World Cup berths
i. Italy and the Netherlands became the first European nations to clinch qualification for the 2014 World Cup finals with victories on a busy night of action on Tuesday.
ii. Another of the continent's most famous names, Germany, are also now on the brink of qualification, as are Switzerland, while Russia and England ensured that their destinies remain in their own hands. 
iii. The only World Cup finals Italy have missed remain the 1958 finals in Sweden, and Cesare Prandelli's side knew that a win against the Czech Republic in Turin would confirm their participation in a 14th consecutive finals. 
iv. However, they had to overcome a scare in the Juventus Stadium before sealing first place in Group B with two games to spare.

16.  SAFF Football: India to clash with Afghanistan in finals today
i. India will clash with Afghanistan in the title clash of the South Asian Football Federation, SAFF Cup in Kathmandu today.
ii. In the semi-finals, while India had defeated the Maldives one-nil, Afghanistan beat hosts Nepal by the same margin.Indian Skipper Sunil Chettri will be back in the team for today's match. He did not participate in the last match due to suspension.
iii. India is the most successful team in the SAFF Championships. It has lifted the Cup five times since the Championship began.
iv. Afghanistan is ranked three places above India in the FIFA rankings at 139, but has never defeated India in their five encounters since 1951. India has won four out of the 5 matches played between the two sides so far, with one ending in a draw.

NOTE: India will host the 2015 edition of the SAFF football tournament

17.  One-third of food wasted, costs world economy $750 bn: FAO
i. One third of the food produced worldwide is wasted, costing the global economy around $ 750 billion a year, a new report by the UN food agency said today.
ii. The Rome-based Food and Agriculture Organisation (FAO) said some 1.3 billion tonnes of food are wasted every year, with the Asia region including China seen as the worst culprit.
iii. The food agency’s director general, Jose Graziano da Silva, told a press conference that in total, “one third of the food produced today is lost or wasted... equivalent to the Gross Domestic Production (GDP) of Switzerland.”
iv. “This is a big wake up call. We may not even have captured many of the more indirect impacts of food waste... and the costs which will be born by our children and grandchildren,” he told the joint press-conference.
v. High-income countries waste during the food consumption phase, while developing countries are losing food during production, the FAO said

18.  SBI not to give car loan if annual income less than Rs 6 lakh
i. The eligibility limit for loan issuance for salaried individual for car purchase has been raised from Rs 2.5 lakh per annum to Rs 6 lakh per annum, as per the recent circular of the bank.
ii. For the SBI account holder, the limit has been raised to Rs 4.5 lakh per annum.
iii. SBI currently offers car loans at an interest rate of 10.45 percent, as per the bank's website.
iv. Giving the rationale for increase in the eligibility criteria, a senior bank official said the decision to revise upwards the gross income limit is taken in view of moderation in economy.

19.  Yuvraj Singh named India A captain against West Indies A
i. Yuvraj Singh will lead a 14-member One-Day and T20 team which has the likes of Unmukt Chand, Robin Uthappa, Yusuf Pathan, Irfan Pathan, Jaydev Unadkat and Praveen Kumar.
ii. All the three matches of the unofficial ODI series will be played in Bangalore on September 15, 17 and 19. The lone T20 match will also be played there on September 21.
iii. Yuvraj will also captain the India Blue side in the NKP Salve Challenger Trophy while Irfan Pathan will be the skipper of the India Red team. 

20.  Aditya Birla Group to acquire Gujarat cement for Rs 3,800 crore
i. UltraTech Cement will acquire the Gujarat Cement Unit of Jaypee Cement Corp Ltd. Gujarat Cement Unit comprises of an integrated cement unit at Sewagram and grinding unit at Wankbori, the company said in a statement.
ii. "With this acquisition of 4.8 million tons per annum, the company's current capacity increases to 59 million tons per annum. With projects underway it will stand raised to 70 million tons by 2015," UltraTech Cement Chairman Kumar Mangalam Birla said.
iii. The proposed transaction is subject to approval of shareholders and creditors, sanction of the Scheme of Arrangement by the High Courts, approval of the Competition Commission of India besides other statutory approvals.