Current Affairs For Bank, IBPS Exams - 16 August, 2015

Current Affairs for BANK, IBPS Exams

India's exports contracted for the eighth consecutive month in July. Exports were down 10.3% to $23.13 billion, owing to a worldwide slowdown, and six-and-a-half year low oil prices that has affected the price of petroleum products. The last time exports expanded was in November, when shipments were up 7.27%.
Oil products form about 31% of the total exports, while petroleum products account for 18% of the total exports.
In the first four months of FY16, exports have declined by 15.04% to $89.82 billion, so have imports (down by 12.01%), resulting in a trade deficit of $45 billion.
At a time when India's exports continue to remain a concern, China also devalued its currency by nearly 6% in three tranches last week, to make its own products more competitive in the global market.
Effects of the yuan devaluation were felt world wide, with the dollar firming, gold gaining some ground as safe-haven again, and Asian currencies tanking against the greenback.
Post the currency devaluation, Indian manufacturers and exporters are concerns about two things:
-- their exports to China and the rest of the world declining
-- dumping of cheaper imports from China
Engineering and textile exports from India are expected to take a major hit with Chinese goods becoming more competitive, while steel firms fear that cheap imports from the neighbouring country could intensify further.

Abhishek Verma gave India a perfect Independence Day gift by clinching the gold medal in the compound men's individual section to open their account in the Archery World Cup Stage 3 here on Saturday.
Having failed as a team in the bronze play-off earlier in the day, the world number 18 was at his best in the individual final as he held on to his lead to wrap up the issue 148-145 against Esmaeil Ebadi of Iran.
The Asian Games silver medalist thus avenged his defeat to Ebadi at the Incheon 2014 in style.
Verma had 13 perfect 10s, including five arrows closest to the centre from 15 arrows, in an extraordinary exhibition of shooting in the summit clash.

Indian badminton ace Saina Nehwal came out with a sensational performance to enter her maiden women's singles semi-final at the World Championships and assure herself of at least a bronze medal.
In a marathon match that lasted for an hour and 12 minutes at the 9,000-seater Istora Senayan, the second seeded Hyderabadi defeated former World Champion Wang Yihan of China 21-15, 19-21, 21-19 to advance to the last four for the first time at the World meet.

THERE is no mystique about Rangana Herath. Maybe the deception lies in the fact that there is no mystique. And there’s a lot that is deceptive about the portly, unsung left-arm spinner. It starts from just the way he is.
For, when you see him on the outfield—like he’s obliged to do so—Herath could easily be mistaken for one of those uncles who would just return from office, change out of his formals and join the boys from his apartment complex in their daily game of cricket.
Like India found out to their dismay, disbelief and disillusionment at the Galle cricket stadium on Saturday as Herath hoodwinked them with his greatest trait, his simplicity.
And they almost seemed mystified as the 37-year-old led the Sri Lankans to one of the most dramatic come-from-behind Test wins.
A Test that they seemed certain—gloriously or otherwise—to lose just 24 hours earlier. So shocking was the manner of defeat, that India didn’t even last 50 overs, crumbling to 112 all out, and losing by a 63-run margin.
With sensational figures of 7/48, he not only reminded why he’s the unsung legend of Sri Lankan cricket, Herath also exposed India’s inability, tending on incompetence, against quality spin. certificate for both. It also was a window into how Herath sets up his victims, with no fuss but a lot of nous.