Current Affairs Update 25 August 2018

Current Affairs is an important part for many exams. Be prepared for this section with ByScoop which brings all the important Current Affairs in one place. 25 August 2018.

Prasar Bharati & Mizzima Media of Myanmar ink an MoU

Prasar Bharati and Mizzima Media of Myanmar signed a Memorandum of Understanding (MoU) to realize cooperation and collaboration in broadcasting and content sharing.
The MoU will boost centuries old ties between India and Myanmar and also strengthen India’s soft power in its neighbourhood.
The Agreement will realize cooperation and collaboration in broadcasting and envisions content-sharing covering a wide range of genres, including culture, entertainment, education, science, news and sports along with other areas of mutual interest.

Jaipur Gets India’s Largest Business Incubator Centre, Bhamashah Techno Hub

India’s largest business incubator, the Bhamashah Techno Hub, was inaugurated in Jaipur, Rajasthan by Chief Minister Vasundhara Raje to strengthen the startup ecosystem in the state.
The incubator will provide end-to-end support to startups, ranging from infrastructure, technology, angel funding, access to venture capitalists, mentorship, exposure to national and international organisations and experts and much more.
The 7 storeyed Bhamashah Techno Hub has been built in record 15 months with an investment of about Rs 72 crore.

DAC Approves Procurement for Services amounting to Nearly Rs. 46,000 Crores

The Defence Acquisition Council (DAC), chaired by Hon’ble Defence Minister Smt Nirmala Sitharaman has accorded approval for procurement for the Services amounting to approximately Rs. 46,000 crores.
This includes procurement of 111 Utility Helicopters for the Indian Navy at a cost of over Rs. 21,000 crores.
Other procurement proposals amounting to approximately Rs 24,879 crore includes approval for acquisition of 150 indigenously designed and developed 155 mm advanced towed artillery gun systems for the Army at an approximate cost of Rs 3,364 crores.

Navy’s Biggest Ship, INS Vikramaditya, To Get Upgrade For Its Air Wing

For the first time, India’s only aircraft carrier INS Vikramaditya is going to be fitted with a marine hydraulic system to boost the air operations of the ship. Hydraulics technology uses fluid pressure to power machines.
Technodinamika, a subsidiary of Russia’s Rostec State Corporation, will install the system in the Indian Navy ship by May 2019,
The marine hydraulic systems, whose technical terms go by “GS-1MF” and “GS-3”, are used for refuelling, cleaning and pressurisation of hydraulic systems of aircraft and helicopters on board the INS Vikramaditya.
The GS-1MF hydraulic system is used in helicopters, while GS-3 is used in aircraft.

India, Singapore sign Second Protocol amending bilateral trade pact

India and Singapore has signed the “Second Protocol” amending the Comprehensive Economic Cooperation Agreement (CECA) to boost trade ties between the two countries.
The provisions of the Second Protocol will come into effect on September 14, 2018.
The CECA was signed on June 29, 2005 and its first review was concluded on October 1, 2007.
The signing of the Second Protocol formally brings to a closure the negotiations on second review of CECA, which began on May 11, 2010.
The conclusion of the Second Review of CECA was announced during the visit of the Prime Minister Narendra Modi to Singapore on June 1, 2018.
As per Commerce Ministry, both the countries are exploring the possibility of launching the third review of India-Singapore CECA in September, 2018.

IIT Hyderabad Launches FabCI Incubator For Chip Design

The Indian Institute of Technology Hyderabad (IITH) has launched Fabless Chip Design Incubator (FabCI), an exclusive Incubator to boost the chip design sector.
The FabCI is a first of its kind incubator in India that will focus on creating an ecosystem for grooming startups in chip design.
FabCI aims to incubate at least 50 ‘Make-in-India’ chip design companies that can compete globally and generate Intellectual Property Rights (IPRs).
It will provide free software tools with leading technology partners in Electronic Design Automation (EDA), a characterization facility for testing the chips and equipment for performing DC and RF characterization.

Launch Of ‘SPEEDEX’ Contract By IAF

The Stores, Proactive, Efficient and Expeditious Despatch of Extra Size/ Wt Consignment (SPEEDEX) contract was formally launched by the Indian Airforce on 24 August 2018.
The contract has been concluded on 28 Jun 18 with M/s Balmer Lawrie & Co Ltd and M/s Ashok Travel and Tours for the Air & Surface component respectively.
The aim of the contract is to overcome the delay in dispatch of consignment and to move operationally urgent stores by air and normal consignments by surface mode.
This would include door to door pickup and delivery facility with fixed timelines, lesser than Speed Post. This contract will enhance support to IAF maintenance activities and improve operational preparedness.

Dr G. Satheesh Reddy Appointed Chairman of DRDO

Renowned aerospace scientist G Satheesh Reddy has been appointed as the Chairman of the Defence Research Development Organisation (DRDO) for a period of two years. He will succeed S Christopher, who retired in June.
He is also appointed as Secretary in the Department of Defence Research and Development (DDR&D).

U K Varma Sworn in New Assocham Secretary General

Industry chamber Assocham has appointed former bureaucrat Uday Kumar Varma as its new Secretary General. He succeeds DS Rawat who held the position for nearly 14 years.
Varma retired from the position of Secretary, Ministry of Information and Broadcasting, Government of India on June 30, 2013.

Indra Nooyi to be honoured with Asia Society’s Game Changer of the Year 2018 award

PepsiCo’s India-born CEO Indra Nooyi will be honoured with the Game Changer of the Year award by a global cultural organisation, Asia Society, in recognition of her business achievements, humanitarian record and advocacy for women and girls around the world.
The 2018 Asia Game Changer Awards will be given in October to individuals and institutions who have broken barriers, defined courage, worked miracles, and in turn inspired their fellow citizens of the world.
Nooyi, has also announced to step down as CEO of PepsiCo after 12 years of service.

Current Affairs Update – 25 August 2018