Current Affairs For Bank, IBPS Exams - 10 January, 2014

Current Affairs For Bank, IBPS Exams

10 January 2014

Mumbai’s new airport terminal

Mumbai unveils its long-awaited $2 billion new airport terminal recently . Hemmed in by Mumbai's sprawling slums, the renovated Chhatrapati Shivaji International Airport was delayed for nearly two years and overran its construction budget by 25 per cent. The project was dogged by political disputes, regulatory snarls and difficulty reclaiming more than 300 acres of airport land near the runway occupied by tens of thousands of squatters.
The Mumbai airport's developer and operator, a public-private venture led by GVK Group, is betting that passengers will find the result worth the wait for its sleek and airy design, abundant greenery and some 7,000 pieces of Indian art.
The art works make up the centerpiece of the terminal, embedded in a 3-kilometer (1.9-mile)-long internal wall that runs along the departure and arrival gates of the four-story building. The check-in facility has a gleaming white, 11-acre roof with dozens of skylights that resemble the plumage of a peacock, India's national bird. The 700,000-square-foot retail and gateway areas feature more than 1,000 lotus-flower-shaped chandeliers.
Aiming high, Mumbai International Airport Ltd. has declared the facility will be "one of the best airports in the world that consistently delights the passengers."
The airport will shift all international carriers to the new terminal within a few weeks and hopes that most domestic airlines will operate from a lower level in the same building in about a year after it demolishes the current terminal and finishes the fourth leg of the new, X-shaped building.

Global food prices drop

Global food prices fell 1.6 per cent in 2013 as large supplies pushed down international prices of commodities such as oils, sugar and cereals, according to United Nations food agency FAO.
"Over the full 2013 year, the Index averaged 209.9 points, down 1.6 per cent, from 2012, but still the third highest annual value on record." as per the Food and Agriculture Organisation (FAO) price index.
The FAO price index measures monthly price changes for a basket of cereals, oilseeds, dairy products, meat and sugar.

India slips in business optimism

India has slipped to eighth rank from the top spot in terms of business optimism, with 69% of the corporates having a positive outlook on the economy and growth of operations in 2014, says a survey.
India has ranked eighth in the list which was topped by United Arab Emirates and Philippines, where 90% of businesses said they are optimistic about growth and the economy, followed by Peru at 84%, according to Grant Thornton's International Business Report (IBR).
IBR is a survey of both listed and privately held businesses. The data was drawn from interviews with 3,500 senior executives across industry sectors and was conducted between November and December 2013.
With strong sentiment for change in the recent state elections and decisive actions by the RBI/government in last few months, it's easy to see how medium to large businesses in India are more optimistic about the outlook for the economy in the coming months, Chandiok added.
Moreover, the appointment of Raghuram Rajan as the governor of Reserve Bank of India seems to have steadied the economy and provided the much-needed confidence to Indian businesses, the report said.
According to the report, 90% of Indian businesses believe their revenues would rise in 2014 while 76% are most optimistic for increasing profitability this year. Around 35% of businesses are also hoping to witness a jump in exports.
Research and Development (R&D) initiatives are also likely to get a boost this year with 46% businesses betting big on R&D. About 65% businesses foresee a rise in employment in 2014.

Team India's No.1 position at stake

India will have to beat New Zealand in the upcoming ODI series to retain their top spot in the ICC rankings as Australia and England have a chance to topple Mahendra Singh Dhoni`s men from the perch.
Australia are currently ranked second with 114 ratings points, six ratings behind number-one ranked India, while England is ranked third on 111 ratings points.
Australia was last ranked number-one in July 2012, only to be overtaken by England who held the top position till December 2012.
Australia and England`s rise to the top position however, is dependent on how India fare in their five-match series against host New Zealand, which begins on January 19 in Napier.
For both England and Australia to go top, they would not just need wins themselves but also hope that New Zealand gets the better of India.
Meanwhile, Virat Kohli is the highest-ranked Indian in the batsmen`s rankings at the second spot with Shikhar Dhawan being the next best-placed at 10th.
In the bowlers` list, Ravindra Jadeja is the highest-ranked Indian at sixth followed by R Ashwin at the 16th position after going up a rung. Jadeja is also the best among the Indians in the all-rounders` list at the fifth spot.

Biggest winner in Australian Open draw

Three-time winner and defending champion Novak Djokovic earned a dream Australian Open draw while world No.1 Rafael Nadal faces a tricky first-round opponent in Bernard Tomic.
Unbeaten in four months, Djokovic was handed the kindest draw amongst the big guns. The Serbian meets Slovakia's world No.90 Lukas Lacko in his opening match, and is drawn to meet 15th seed Fabio Fognini in the fourth round.
The biggest threat in Djokovic's half is Stanislas Wawrinka of Switzerland, who will play Kazakhstan's Andrey Golubev in the first round. And then the world No.2 is seeded to run into Spanish world No.3 David Ferrer in the semi-finals.
Top-seeded Nadal, No.4 Andy Murray, No.5 Juan Martin del Potro and No.6 Roger Federer all stacked in the opposite half.
Nadal, who missed last year's Australian Open with a left knee injury during a seven-month absence from the tour, returned to win 10 titles in 2013 and regain the No.1 ranking, overtaking Djokovic. His first round opponent Tomic reached the Wimbledon quarter-finals in 2011 and has been ranked as high as No.27.