Current Affairs Updates - 18th February 2018

Current Affairs Updates - 18th February 2018

We, the AchieversRule team have once again brought to our readers the Current Affairs Updates for 18th February 2018. There are news in sections like National, International, Events, Appointments and banking. We hope our readers like our content and will keep following us for more such updates regularly. Kindly provide us with feedbacks so that we can provide you with better content each day. You may also like Current Affairs Note Down Point and Current Affairs Quiz.

New Appointments: International

Khadga Prasad Sharma Oli from the Communist Party of Nepal  has been sworn in as the 41st prime minister of Nepal.

• President Bidya Devi Bhandari administered the oath of office at Sheetal Niwas at 4:30pm on Thursday in the capital, Kathmandu, hours after she appointed Oli to the post.

Banking, Economic & Financial Affairs

SBI launches global customer service centre for NRIs in Kochi

• Our Bureau State Bank of India launched its Global NRI Centre (GNC) in Kochi, a one-stop customer service point for all NRI banking-related activities.

Rankings & Indexes

Tata Consultancy Services (TCS) has been recognized as the world's best employers by the Top Employer Institute for the consecutive third year.

• TCS was selected from a pool of 1,300 companies in 113 countries for offering exceptional services to its employees.

National Affairs

State owned Oil and Natural Gas Corporation (ONGC) is planning to introduce carbon dioxide (CO2) injection technology in its Gandhar oil field in Gujarat.

• Its purpose is to recover extra 20 million barrels of crude oil under enhanced oil recovery (EOR) programme. 

Canadian Prime Minister Justin Trudeau's seven-day visit to India is aimed at intensifying defence and counter-terror cooperation besides expanding trade and investment ties.

• The negotiators of both the countries met last week to overcome the hurdles in finalising the pact.

The Centre will set up 562 more Ekalavya Model Residential Schools in tribal areas of the country. 

• Briefing media in New Delhi on the budgetary provisions of his Ministry, Tribal Affairs Minister Jual Oram said, 271 such schools have already been sanctioned out of which, 190 are currently operational.

The sex ratio at birth (SRB) saw a decline in 17 out of 21 large states of the country, with Gujarat recording an alarming dip of 53 points, according to a report released by the Niti Aayog stated and stressed on the need to check sex-selective abortion. 

• In Gujarat the SRB fell to 854 females from 907 females per 1,000 males born registering a drop of 53 points from 2012-14 (base year) to 2013-15 (reference year) in this indicator. 

Prime Minister Narendra Modi will inaugurate the fourth container terminal of Jawaharlal Nehru Port Trust in Mumbai 

• Prime Minister Narendra Modi will inaugurate the fourth container terminal (FCT) of Jawaharlal Nehru Port Trust in Mumbai on Sunday.

International Affairs

World leaders and ministers are meeting in Munich to discuss pressing security issues, including North Korea's nuclear and missile programs and the Syrian civil war.

• The annual Munich Security Conference opened in the southern Germany city on Friday. The conference runs through Sunday.

The Pakistan Army has announced plans to deploy troops in Saudi Arabia under an existing bilateral security cooperation agreement with the kingdom.

• These or troops already there will not be employed outside KSA. Pakistan Army maintains bilateral security cooperation with many other Gulf Cooperation Council/regional countries.

Science & Technology

Scientists from The Rockefeller University in New York have reported discovery of a new class of antibiotics called malacidins.

• It has been produced by microorganisms living in soil and dirt and is capable of killing off several antibiotic-resistant pathogens.

Chandrayaan-2, the lunar mission under which the ISRO will for the first time attempt to land a rover on the moon's south pole, will be launched in April 

• The rover of India's second lunar mission, costing nearly Rs 800 crore, will be made to land near the yet-unexplored south pole, ISRO's newly-appointed chairman K Sivan said. 

Defence & Railway News

The Indian Army flagged off a Chindits Trail Expedition to commemorate the spirit and ethos of Indian troops employed on Burma front in the Second World War.

• The expedition, which will conclude on March 8, will cover a total distance of 400 kilometres in four phases over a period of 20 days.

Agreements/ MoUs Signed

Iranian President Hassan Rouhani and Prime Minister Narendra Modi discussed key areas of bilateral ties with a focus on trade, including the deepwater Chabahar Port. India and Iran also signed nine agreements.

• Iran's President Hassan Rouhani was greeted at the Rashtrapati Bhavan by Prime Minister Narendra Modi and Ram Nath Kovind today on the last of his three-day visit of the country.

The union government has signed second Loan Agreement with New Development Bank (NDB) for the financing of Rajasthan Water Sector Restructuring Project for the Desert Areas.

• This is the first tranche loan of 100 million dollar was approved by the NDB under Multi-Tranche Financing Facility of 345 million dollar for this project.

PNB Housing Finance Ltd has tied up with International Finance Corporation (IFC), part of the World Bank Group, to raise 800 million dollar for green and affordable housing in India

• IFC is in negotiations with two other housing finance firms to invest another 150 million dollar, as well as with property developers to assist the Pradhan Mantri Awas Yojana (PMAY) from both the demand and supply sides, the person said, requesting anonymity.

India has signed a second loan agreement for 100 million dollar with the New Development Bank (NDB) for efficient use of water in desert areas of Rajasthan.

• The loan agreement to finance Rajasthan Water Sector Restructuring Project for the Desert Areas was signed between Economic Affairs Department Joint Secretary Govind Mohan and NDB Project Financing Director General Shaohua Wu .

Summit /Conference / Events

Prime Minister Narendra Modi inaugurated the World Sustainable Development Summit 2018 in New Delhi organized by The Energy and Resources Institute (TERI).

PM Modi while addressing the gathering at the inaugural speech laid emphasis on the major current environmental problems that are being faced by the developing nations. 

An international exhibition and conference on Pharmaceutical & Medical Device sector ‘India Pharma & India Medical Device 2018’ began today in Bengaluru.

• The event is being organised by the Department of Pharmaceuticals (DoP), Ministry of Chemicals and Fertilisers, along with Federation of Indian Chambers of Commerce & Industry (FICCI). 

The Vice President of India inaugurates the international Theatre Olympics being held in India for the first time; Releases festival logo: ‘Flag of Friendship’

• The Vice President of India Shri M. Venkaiah Naidu inaugurated the  8th international Theatre Olympics 2018 at the majestic Red Fort in New Delhi.

Awards & Honours: Miscellaneous

Sanjiv Bajaj, Managing Director, Bajaj Finserv, won the EY Entrepreneur of the Year 2017 award for solutions in lending, life and general insurance and wealth advisory.

• The consulting firm also named nine other category winners for the Entrepreneur of the Year Program.

Economi Times Startup Awards 2017: Swiggy wins startup of the year 

• India’s food-tech industry has been going downhill largely because of weak business models and shoddy execution in catering to hungry customers. 

Asha Bhosle honoured by Rekha at the 5th Yash Chopra Memorial Awards

• Legendary singer Asha Bhosle was conferred with the fifth Yash Chopra Memorial Award on Friday in Mumbai. Presenting the award was veteran actor Rekha.

Other Sports & Award Related News

Roger Federer becomes oldest world No 1 in tennis history

• Federer replaces Andre Agassi in record books as he goes back to the top of the ATP rankings for the first time in over five years