Current Events: December 4, 2018

Main current events of December 4, 2018 are as follows:

National Current Events

UGC directs universities across the country to observe December 7 as the Armed Forces Flag Day

The Indian Armed Forces Flag Day is observed every year on December 7 since 1949 to honour the soldiers, airmen and sailors of the country. The University Grants Commission (UGC) has directed varsities across the country to observe December 7 as the Armed Forces Flag Day to commemorate the “supreme sacrifices” made by the country’s soldiers during conflicts.
Indian Navy to conduct ‘Exercise sea vigil’ in January 2019 to test robustness of coastal security apparatus

The ‘Exercise sea vigil’ will involve all stake holders across mainland and Island territories, and the participation of all operational ships, submarines and aircraft as well as units of Indian coast guards, Indian Army and the Indian Air Force.

Economy & Corporate Current Events
CRISIL lowers India’s GDP growth forecast for current fiscal to 7.4% from 7.5% estimated earlier

India’s economy grew at a slower pace in the September quarter, easing by over a percentage point from the nine-quarter high of the preceding three-month period as a weak rupee, rising crude prices and tight liquidity conditions.

Moody’s Investors Service’s annual Banking System Outlook on India estimates country’s real GDP

Moody’s Investors Service’s annual Banking System Outlook on India estimated the country’s real gross domestic product (GDP) for the current financial year and next fiscal to grow at 7.2% and 7.4%, respectively

ADB to provide $85 million loan to improve skill development eco-system in Odisha and establish an advanced skill training centre at Bhubaneswar

The Asian Development Bank to provide a $85 million loan to improve skill development eco-system in Odisha and establish an advanced skill training centre at Bhubaneshwar. It will help over 1.5 lakh people learn skills in priority sectors, including manufacturing, construction and services for formal employment.
World Current Events
Sri Lanka’s Court of Appeal restrains controversially installed PM Mahinda Rajapaksa and his purported Cabinet of Ministers from functioning in their respective offices

Sri Lankan court barred Mahinda Rajapaksa from acting as Prime Minister, in a major set back to President Maithripala Sirisena who had installed his former rival in place of Ranil Wickremesinghe in a controversial decision.
International Day of Persons with Disabilities observed on December 3; 2018 theme: Empowering persons with disabilities and ensuring inclusiveness and equality

The annual observance of the International Day of Disabled Persons was started in 1992 by the United Nations General Assembly resolution 47/3. It aims to promote the rights and well-being of persons with disabilities in all spheres of society and development and to increase awareness of the situation of persons with disabilities in every aspect of political, social, economic and cultural life.

Qatar to leave Organization of the Petroleum Exporting Countries (OPEC) from January 2019

Qatar has announced to leave the Organization of the Petroleum Exporting Countries (OPEC) and focus more on the production of natural gas abd enhance it from 77 million tons of gas per year to 110 million tons.

World Bank unveils USD 200 bn in climate action investment for 2021-25

The World Bank has unveiled 200 billion US Dollars in climate action investment for 2021 to 2025, a doubling of its current five-year funding. This is to tackle climate change and sends an important signal to the wider global community to do the same.

FMCG giant Unilever to acquire health food and drinks portfolio of GlaxoSmithKline (GSK) for 3.1 billion pounds

Anglo-Dutch FMCG giant Unilever will acquire health food and drinks portfolio of GlaxoSmithKline (GSK) in India and over 20 other markets predominantly in Asia for a consideration of 3.1 billion pounds. Unilever’s Indian arm, Hindustan Unilever Ltd will acquire GlaxoSmithKline Consumer Healthcare Ltd (GSK CH India) via an all-equity merger, valuing the total business of the latter at Rs 31,700 crore.

GlaxoSmithKline agrees to buy U.S. cancer drug specialist Tesaro for $5.1 billion

GlaxoSmithKline bought U.S. cancer drug specialist Tesaro for $5.1 billion, marking a major biotech investment by the drugmaker as its seeks to rebuild its pharmaceuticals portfolio.
Sports Current Events
Gagan Sethi (with navigator Sabatullah Khan) wins 55 km JK Tyre Hornbill Rally title in Kohima

Delhi’s Gagan Sethi won JK Tyre Hornbill Rally title. He finished the 55-km TSD rally in 29 seconds.

Pune International Marathon: Ethiopia’s Atlawim Debebe wins men’s race in 2:17:17, Kenya’s Pascalia Chepkogei wins women’s race in 2:50:27 Pune

Ethiopia’s Atlawim Debebe won men’s race in 2:17:17. Kenya’s Pascalia Chepkogei won women’s race in 2:50:27 in International Marathon.

 

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