1. According to Global rating agency Moody's Indian economy started recovering by the end of 2014 but till now no big recovery is seen. According to Moody's accommodative monetary policy will lift the GDP (gross domestic product) to 7.6% in 2015, increasing to 8% in 2016. However, Moody’s pointed out that India’s true potential GDP growth lies somewhere near 10%.
2. Singapore has appointed Indian-origin businessman Karan Singh Thakral as the country's Non-Resident Ambassador to Denmark. Karan Singh Thakral (81) has served as Singapore's High Commissioner to Sri Lanka. He is an Executive Director in the Thakral Group of Companies. Thakral is chairman of the South Asia Business Group and 'Business India' in Singapore as well as chairman of Givo Limited in India.
|1st August 2015 Current Affair Updates | Daily GK Download|
3. The Airports Authority of India dethroned Petroleum Sports Promotion Board (PSPB) to win the youth girls team title in the 45th All India International Table Tennis Championships. In the finals, the men and women teams of PSPB defeated Railway Sports Promotion Board and Reserve Bank of India respectively to win the title.
4. Garth Brooks has been named as the highest-paid country singer in the music industry, according to a new Forbes report. He has made $90 million over the past year. Toby Keith’s occupied second place on the list with USD 53 million earnings. Jason Aldean comes in at number three with an estimated USD 43.5 million.
5. According to a survey released by leading global management consulting firm AT Kearney, India has fallen four spots to 11th place in attracting Foreign Direct Investment (FDI) during 2014. According to a latest survey titled Foreign Direct Investment Confidence Index 2015 commissioned by AT Kearney India attracted $35 billion as FDI in 2014. India lost its top 10 position for the first time since 2002. The US topped the Index for the third straight year followed by China.
6. Anuradha Roy is the lone Indian author among 13 international authors long-listed for the 2015 Man Booker Prize as announced by the Booker Prize Committee. Anuradha Roy was picked for her third novel “Sleeping on Jupiter”. This book has exposed the hypocrisies of Indian society. British-Indian Sunjeev Sahota was also among the 13 long-listed authors for his book “The Year of the Runaways”.
7. The Union Cabinet approved amendments proposed by Rajya Sabha Select Committee on Goods and Services Tax (GST) Constitution Amendment Bill, 2014. According to the recommendations of Rajya Sabha Select Committee compensation to the states should be made for 5 years for any revenue loss due to introduction of GST.
8. The Bill & Melinda Gates Foundation has topped the list of the world's wealthiest private foundations established by living ultra high net worth (UHNW) individuals, according to a Wealth-X report. It has total assets of $43.4 billion. Li Ka Shing Foundation, founded by Hong Kong business magnate Li Ka-Shing, ranked second with $8.1 billion assets followed by Gordon and Betty Moore Foundation ($6.4 billion) and Bloomberg Philanthropies ($5.4 billion) in the third and fourth place, respectively.
9. A Chinese firm has set up the world’s first unmanned factory at Dongguan city where all the processes are operated by robots. Changying Precision Technology Company, known as the "world factory", which manufactures cell phone modules has 60 robot arms. This has reduced China's dependence on manual workers. In the plant, all the processes are operated by computer- controlled robots, computer numerical control machining equipment, unmanned transport trucks and automated warehouse equipment.
10. India had 2.6 million cases of Tuberculosis as per the latest count and ranks 14th among 22 high TB burden countries globally. As per WHO Global Tuberculosis Report 2014, in India, the estimated prevalence of TB is 2.6 million cases.