GK Update 10th December 2020

1. Kuwait emir reappoints Sheikh Sabah Al-Khalid as prime minister

  • Kuwait Emir Sheikh Nawaf Al-Ahmad Al-Sabah has re-appointed Sheikh Sabah Al-Khalid Al-Sabah as prime minister.
  • The move comes two days after Sheikh Sabah submitted his government’s resignation in a procedural step following parliamentary polls.
  • The country’s ruler accepted the premier’s resignation before reassigning him to form the upcoming government.
  • Sheikh Nawaf who took over the leadership of the Gulf state in September after the death of his brother also asked Sheikh Sabah to nominate members of a new cabinet. The new cabinet would have to be approved by the Emir.

Important takeaways for all competitive exams:

  • Kuwait Capital: Kuwait City.
  • Kuwait Currency: Dinar.

2. BoB launches Atmanirbhar Women Gold Scheme

  • Bank of Baroda (BoB) has recently launched the Atmanirbhar Women Scheme as part of its Baroda Gold Loan.
  • This scheme aims to target the self-reliant woman in India. Under the scheme, the bank is offering loans at 0.50 per cent concession for women.
  • The bank under the gold loan scheme is offering agri-gold loan at 0.25 per cent concession and for a retail loan at 0.50 per cent concession.
  • This Atmanirbhar scheme is exclusively meant for helping women to be self-reliant. The scheme was launched at BOB’s Ramamurthy Nagar branch in Bengaluru and simultaneously in 18 branches coming under 18 zones in the country.

Important takeaways for all competitive exams:

  • Bank Of Baroda Headquarters: Vadodara, Gujarat, India.
  • Bank Of Baroda Chairman: Hasmukh Adhia.
  • Bank Of Baroda MD & CEO: Sanjiv Chadha.

3. Fitch Ratings lowers India’s GDP contraction at 9.4% for FY21

  • Fitch Ratings has revised the GDP growth rate for India in its Global Economic Outlook, and now expects the economy to contract 9.4 per cent in the current financial year 2020-21, as compared to (-)10.5 per cent forecast earlier.
  • Fitch has also projected the FY22 GDP growth at 11 per cent and 6.3 per cent growth in FY23.

4. Nomura Expects India to be fastest growing Asian economy in FY21

  • The Japanese research and brokerage house Nomura has projected India to be the fastest-growing Asian economy in 2021.
  • Nomura has estimated the gross domestic product (GDP) growth of India for the calendar year 2021 (CY21) at 9.9%. For the calendar year 2020 (CY20), Nomura expects GDP growth at -7.1 per cent.

5. Zena Wooldridge Elected As World Squash Federation President

  • Zena Wooldridge from England has been elected as the World Squash Federation President. She will become the 10th WSF President to serve since the Federation’s inception in 1967.
  • She is the second female President after New Zealand’s Susie Simcock. She replaces outgoing President Jacques Fontaine, from France. She previously served six years as President of the European Squash Federation between 2013-2019.

Important takeaways for all competitive exams:

  • World Squash Federation Founded: 1967.
  • World Squash Federation Headquarters: Hastings, United Kingdom.

6. Annika Sorenstam elected president of International Golf Federation

  • The International Golf Federation (IGF) elected Annika Sorenstam as its new president effective January 1, 2021.
  • IGF President, Peter Dawson, is stepping down after 10  years of leadership and service.  Sorenstam, a 72-time winner on the LPGA Tour and former No. 1 from Sweden.

Important takeaways for all competitive exams:

  • International Golf Federation Founded: 1958.
  • International Golf Federation Headquarters: Lausanne, Switzerland.
  • Golf became an Olympic sport again in 2016 after 112 years.

7. Finance Minister Nirmala Sitharaman at 41 on Forbes 2020 list

  • Finance Minister Nirmala Sitharaman has grabbed the 41st spot in the 2020 list of Forbes 100 most powerful women in the world.
  • This is the second time she features in the list, in 2019 ranked at 34 and ranked 41st in 2020.
  • India’s leading Businesswomen, Kiran Mazumdar-shaw, Chairman of Biocon Limited also featured in the list at 68th position.
  • The list also saw the biggest jump in ranking to 3rd position by Kamala Harris, Vice President-Elect of USA, and Prime Minister of Bangladesh, Sheikh Hasina Wajed is ranked at 39.

Here is the list of top 5 personality in the Forbes 100 most powerful women in the world:

1Angela MerkelChancellor, Germany
2Christine LagardePresident, European Central Bank
3Kamala HarrisVice President-elect, United States
4Ursula von der LeyenPresident, European Commission, European Union
5Melinda GatesCo-Chair, Bill & Melinda Gates Foundation
41Nirmala SitharamanFinance Minister of India
68Kiran Mazumdar-ShawFounder, Chair and Managing Director, Biocon Ltd.

Important takeaways for all competitive exams:

  • Forbes is the 103-year-old American Business Magazine, issued weekly.
  • Editor in Chief- Steve Forbes.
  • First issued in September 1917.

8. World Economic Forum 2021 to be held in Singapore

  • The World Economic Forum (WEF) has decided to host its 2021 annual meeting in Singapore, which earlier was scheduled to take place in Lucerne-Burgenstock, Switzerland from 13-16 May 2021.
  • The decision to shift the annual forum from Switzerland has been taken in view of the Covid-19 situation in Europe.
  • This would be the second time since its inception in 1971 that the forum will be held outside Switzerland. In 2002, the forum was held in New York to show solidarity with the American people in the aftermath of 9/11.
  • The meeting is generally held in Davos, Switzerland, but amid covid, the meeting was first shifted to Lucerne-Burgenstock, Switzerland in October 2020. Now again the venue has been shifted to Singapore. It would return to Davos, Switzerland, in 2022.

Important takeaways for all competitive exams:

  • World Economic Forum Headquarters: Cologny, Switzerland.
  • World Economic Forum Founder: Klaus Schwab.
  • World Economic Forum Founded: January 1971.

9. Madagascar replaces the Maldives as host of 2023 Indian Ocean Island Games

  • Madagascar has replaced the Maldives as the host of the 2023 Indian Ocean Island Games due to concerns over the COVID-19 pandemic.
  • The event had been awarded to the Maldives last year, but members of the Indian Ocean Island Games Federation voted to move the Games to Madagascar.
  • The decision came as a result of the challenges the Maldives is facing in organising the event during the coronavirus crisis. The Maldives had requested pushing back the 2023 Games to 2025 but the IOIGF was keen to avoid a six-year void between editions of the multi-sport event.

Important takeaways for all competitive exams:

  • Madagascar Capital: Antananarivo.
  • Madagascar President: Andry Rajoelina.
  • Madagascar Currency: Malagasy ariary.

10. World Human Rights Day: 10 December

  • Human Rights Day is celebrated on 10 December annually across the world. This Day came into existence on December 10, 1948, when the Universal Declaration of Human Rights was adopted by the United Nations.
  • This day is observed every year across the world, as it empowers us all. The day also acknowledges the advocates and defenders of human rights around the world.
  • This year theme of Human Rights Day: Recover Better – Stand Up for Human Rights. This year theme relates to the COVID-19 pandemic and focuses on the need to build back better by ensuring Human Rights are central to recovery efforts.

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