15 October 2013 – Daily Current Affairs

Article Updated on 15 Oct, 2013
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1) Three American economists – Eugene Fama, Lars Peter Hansen (both with the University of Chicago) and Robert Shiller (Yale University) won the 2013 Nobel Prize for Economics. This announcement was made by the Royal Swedish Academy of Sciences on 14 October, 2013. What was the area of research of these three economists for which they were selected for this prestigious award? – For developing new methods to study trends in asset markets (Fama, Hansen and Shiller had laid the foundation of the current understanding of asset prices. The economics award is not a Nobel Prize in the same sense as the medicine, chemistry, physics, literature and peace prizes, which were created by Swedish industrialist Alfred Nobel in 1895. Sweden’s central bank added the economics prize in 1968 as a memorial to Nobel)

2) What is India’s rank in the 2013 Global Hunger Index (GHI), which was released by the International Food Policy Research Institute on 14 October, 2013? – 63rd, with a hunger score of 21.3 (India’s rank in last year’s GHI was 67. The report terms the situation in India as alarming, even as its hunger score improved from 32.6 in 1990 to 24 in 2005 and 21.3 in 2013. This report ranks 120 developing countries of the world according to their hunger scores. China was 6th in this list whereas India’s neighbours Sri Lanka (rank 43), Pakistan (rank 57) and Bangladesh (rank 58) have been placed above India in this index)

3) An appeals court of a South-Eastern Asian country on 14 October, 2013 gave its ruling that only Muslims can use the word “Allah” to refer to god. With this ruling the court upheld a government ban on the word being used in a Catholic publication. Which country is this? – Malaysia (The controversy started in 2008 when the government prohibited Catholic publication The Herald from using the word “Allah”, and the church filed a court case questioning the order. On December 31, 2009, the Kuala Lumpur High Court lifted the prohibition, noting that the church had a constitutional right to use the word in its publication on the ground that religions other than Islam can be practiced in peace and harmony. The High Court decision triggered protests from Muslim groups. In its ruling the appeals court observed that the use of Allah is not an integral part of the Christian faith, so we find no justification for why they insist on using the name or word in their publication

4) Which country has overtaken the United States to become the biggest net importer of oil in the world, according to the latest data released by the Energy Information Administration (EIA)? – China (China’s net oil imports during September 2013 stood at 6.3 million barrels a day, which was more than the US’ oil import figure of 61 million barrels a day. China’s fast-growing economy, as well as the rise in car sales, has led to its new status. China’s own oil supply has been outstripped by its economic boom, and its oil fields have been damaged by flooding during the past few months. However, the US’ oil consumption is still way ahead than that of China. The US uses 18.6 million barrels of oil per day compared with China’s 10.9 million, despite having a population a third the size of China’s)

5) The first detailed study for Indian Railways’ ambitious high-speed bullet train project is expected to commence at which rail corridor of the country, for which an approval was given by the Indian Railways during September, 2013? – Mumbai-Ahmedabad Corridor (Japan Internal Cooperation Agency (JICA) will conduct a feasibility study for Mumbai-Ahmedabad high speed rail corridor. Estimated to cost about Rs 63,000 crore, the 534-km-long Mumbai-Ahmedabad route is expected to be the first corridor to be explored for the Railways ambitious bullet project. The high speed corridor study has to be completed within 18 months and the cost of it will be shared jointly by railways and JICA)

6) What was the wholesale price index (WPI)-based inflation during September, 2013 as announced by the govt. on 14 October, 2013? – 6.46% (It is higher than the 6.1% recorded in the previous month (August, 2013))

7) Which corporate company on 14 October, 2013 became the first Indian corporate to achieve sales of more than Rs 1,00,000 crore in a quarter? – Reliance Industries Limited (RIL) – RIL’s turnover or sales soared 14.2% to Rs 1,06,523 crore during the second quarter (July-September) of 2013-14. Company’s net profit for the quarter stood at Rs. Rs 5,490 crore, up 1.5% from Rs. 5,409 crore a year earlier)

8) What is the name of an American ship which was detained for carrying arms and buying diesel in an unauthorized manner near Tuticorin, Tamil Nadu on 12 October, 2013? – MV Seaman Guard Ohio (This vessel, whose crew included eight Indians, was intercepted and detained by the Indian Coast Guard about 15 nautical miles east of Tuticorin. The Centre on 14 October, 2013 sought a report from the Tamil Nadu government on the vessel)

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