4 July 2017 Current Affairs

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04 Jul, 2017

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1) Canada observed which historic anniversary of its formation on 1 July 2017? – 150th

Explanation: Canada marked its 150th anniversary as a country on 1 July 2017. It is worth mentioning that Canada became a Confederation on 1 July 1867 after the British North America Act became effective on this day. With this the colonies of Ontario, Quebec, New Brunswick, and Nova Scotia joined to form the semi-autonomous federal Dominion of Canada, also called the Confederation of Canada.

However, the country did not gain total independence from the United Kingdom. It achieved near-total independence in 1931 with the Statute of Westminster 1931. But the Constitution Act of 1982 removed the last remaining ties of legal dependence on the British Parliament, giving the country full sovereignty.

But 1 July 1867 is observed as the day of formation of Canada as a country and on 1 July 2017 the country celebrated its 150th anniversary with much fanfare. The biggest bash was at Parliament Hill in Ottawa, where thousands of people joined the celebrations.

Prime Minister Justin Trudeau led the nation in celebrating this historic occasion. Prince Charles with his wife Camilla also took part in the festivities.

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2) Which corporate entity on 3 July became the fourth Indian company to cross market capitalization of Rs. 4 trillion? – ITC Ltd.

Explanation: ITC Limited (former name Indian Tobacco Company), which is a diversified conglomerate with major stake in Indian cigarette industry, on 3 July 2017 become the fourth Indian company to cross market capitalization of Rs. 4 trillion. This happened as investors continued to buy the stock after the government notified that cigarettes will be exempted of additional excise duty under the goods and services tax (GST) regime.

Earlier, Tata Consultancy Services Ltd, Reliance Industries Ltd (RIL) and HDFC Bank Ltd have achieved this milestone. Currently, TCS is the India’s most valued company with market capitalization of Rs4.64 trillion, followed by RIL and HDFC Bank at Rs4.47 trillion and Rs. 4.25 trillion, respectively.

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3) According to an announcement made on 3 July 2017, which two commodities exchange of the country have agreed to merge together to create the third largest commodity exchange in the country? – NMCE and ICEX

Explanation: National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX) to create the country’s third biggest commodity exchange. This announcement was made by both the entities on 3 July 2017. The proposed merger is the first merger deal in the commodity exchange space in the country.

The ICEX will hold a 62.8% stake in the merged entity, while NMCE shareholders will own the rest. It is worth mentioning that the Multi Commodity Exchange (MCX) is the largest commodity exchange in India by volume and is followed by the National Commodity and Derivatives Exchange (NCDEX).

The merged entity will offer a wide range of contracts, including bullion, oil, rubber, and other agri-commodities. It will also offer the world’s first diamond futures contract, which has already received in-principle approval from the marker regulator SEBI.

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4) A photo-book on President Pranab Mukherjee titled “President Pranab Mukherjee – A Statesman” was released by Prime Minister Narendra Modi in a function held at the Rashtrapati Bhawan on 2 July 2017. Which English-language newspaper has published this book? – “The Statesman”

Explanation: The President of India, Dr. Pranab Mukherjee received the first copy of the book “President Pranab Mukherjee – A Statesman” from Prime Minister, Narendra Modi who formally released it at a function held at Rashtrapati Bhavan on 2 July 2017.

The book presents a photo essay on the 13th President of India. It primarily covers Pranab Mukherjee’s presidency and documents his various roles including those as a humane first citizen, as a thought-leader , as a patron of educational institutions and the arts and as the Supreme Commander of the Armed Forces etc.

The book has been published by The Statesman, one of India’s oldest English-language newspapers.

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5) Which country won its maiden Confederations Cup football title on 2 July 2017? – Germany

Explanation: Reigning FIFA World Cup champions Germany achieved another milestone as it won the 2017 Confederations Cup title by defeating Chile by 1-0 in the finals on 2 July 2017. The final was played in St. Petersburg (Russia) and the win gave Germany it’s first-ever Confederations Cup title.

The lone goal of the match was scored by Germany’s Lars Stindl in the 20th minute, thanks to a mistake by Marcelo Diaz. It is worth mentioning that Germany has had also won the European Under-21 Championship in Poland on 30 June 2017.

Confederations Cup is a quadrennial international men’s football tournament organised by FIFA. It is contested by the holders of each of the six regional championships, along with the current FIFA World Cup holder and the host nation, bringing the number of teams up to eight.

8 teams that took part in the tournament were – Germany (FIFA World Cup champs), Russia (hosts), Australia (AFC champs), Chile (2015 Copa America winner), Mexico (2015 CONACAF winner), New Zealand (2016 OFC winners), Portugal (2016 UEFA Euro Cup winner) and Cameroon (2017 Africa Cup winners).

The 2017 edition of Confederations Cup was held in Russia, from 17 June to 2 July 2017, as a prelude to the 2018 FIFA World Cup.

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The Swedish newspaper was recently asked it to delete the reference made by President Pranab Mukherjee to the Bofors scam in an interview to it, as a claim protested by the Indian Government on 27 May 2015. India has expressed disappointment over the disrespect shown to the President, the newspaper has defended its right to publish what was said during the interview.

Know, who is Vijay Kelkar and what is PPP !

Vijay Kelkar is a renowned economist and a former Finance Secretary. He was appointed head of newly constituted committee to give recommendations to recast the model of Public-Private-Partnership (PPP) model in India. India is one of the largest PPP market with over 900 projects. The Kelkar committee will review the PPP policy, suggest a better risk-sharing mechanism between private developers and the government after analysing such projects.

Know, who is Yaduveer Krishnadatta Chamaraja Wadiyar !

Yaduveer Krishnadatta Chamaraja Wadiyar was crowned as the new Maharaja of of Mysuru (Mysore) royal family. He is the 23-year old grandson of Princess Gayathri Devi, who was the eldest daughter of the last Maharaja of Mysore, Sri Jayachamarajendra Wadiyar. The coronation was held at Mysuru’s famous Amba Vilas Palace, which was decked up for the occasion.

Know about Sepp Blatter!

Swpp Blatter, was re-elected as FIFA president for a fifth term at the 65th Annual Congress of FIFA held at Zurich for four year term.

Prince Ali bin al-Hussein of Jordan stood against Blatter in this election. It is worth mentioning that FIFA is going through a major controversy regarding corruption in the organisation with two FIFA vice presidents and a recently elected FIFA executive committee member still in custody.

 


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