Current Affairs For Bank, IBPS Exams - 18 June, 2014

Current Affairs For Bank, IBPS Exams

At around 26 million users, India is the second largest user base for professional networking site LinkedIn. China, however, may be close on the heels given that just over five months into the launch of a Chinese version the user base has already touched 5 million.
India, which leads in the APAC (Asia Pacific) region, accounts for 8.6 per cent of the global user base, behind the U.S. which accounts for 33 per cent. Most of the growth was witnessed in the past 4-5 years, when awareness about professional networking has grown, said Ganesan Venkatasubramaniam, head of engineering at LinkedIn Technology Center, India.
India is, of course, a key focus area for us. For the longest time, the focus was on the U.S. which was, of course, the large user base. But today, two-thirds are from outside the U.S. Of these, India is big, and we are doing a lot to learn what works here and what are the needs of users specific to this geography.

Online marketplace Flipkart has signed amemorandum of understanding with Federation of Indian Micro and Small and Medium Enterprises (FISME) and National Centre for Design and Product Development (NCDPD).
The objective of the MoU is to provide a platform for small domestic manufacturers and artisans to reach out to buyers.
Following this MoU, the portal will host products from about 50,000 SMEs. Ankit Nagori, Vice-President-Marketplace, Flipkart, said, “We believe the marketplace model is best suited for an emerging economy like India with a huge population.
“This model has seen traction in the past three years, and we want to further use this platform to enable and encourage entrepreneurship in the country.

Former Norwegian premier Gro Harlem Brundtland was named as the first recipient of the Tang Prize, touted as Asia’s version of the Nobels, for her work as the “godmother” of sustainable development.
Ms. Brundtland was awarded the debut prize, created by one of Taiwan’s richest men with a $100 million donation, with winners in three other categories to be announced this week. She was awarded the biennial prize for “her innovation, leadership and implementation” of sustainable development.

Reliance Industries Ltd (RIL) has announced plans to invest Rs. 1.80 lakh crore ($30 billion) in three years in petrochemicals, refining, retail and broadband businesses with an aim to be among the Fortune 50 companies by the time it completes 40 years of corporate journey in 2017.
Reliance Jio would start offering 4G broadband service in 2015, and it would be one of the largest job-creating and wealth-creating business initiatives in India. About Rs.70,000 crore had already been invested in this business, and 10,000 people were working across the country.

Five-time world champion Viswanathan Anand kept himself in controversy by notching up 3.5 points on the penultimate day of the World Rapid Chess Championship.
With seven points from 10 games, Anand stands joint third in the strongest ever rapid chess tournament and the Indian ace will have to make a superb finish to find himself on the podium.
World champion Magnus Carlsen of Norway came up with an inspired performance on the second day of the meet to snatch sole lead on eight points out of a possible 10 games. Carlsen is followed by Levon Aronian of Armenia who has made a grand comeback in the event to be on 7.5 points.
While Carlsen made four points from five games on day two, Aronian decimated the opposition to score a whopping 4.5 points from his five games.
Anand meets Russian Ian Nepomniachtchi in the next round and the fact that the Indian is set to get three whites in the remaining five games might just prove crucial in the final stages of the championship.