Current Affairs, News & Facts of 16 May 2014

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  • India to soon test Nirbhay : its nuclear capable 1000 km long range cruise missile (subsonic with speed of 0.6-0.7 Mach)
    • Its a stealth missile (designed to fly at low altitude, almost hugging the terrain to avoid enemy radar and missile defence systems) and is categorised as LACM - Land Attack Cruise Missile (can be fired from Land , Air and Sea)
    • Others in the same category are : Tom Hawk (US) and Babur (Pakistan)
    • First experimental test in March 2013 had to be aborted due to glitch in its trajectory control
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  • Supreme Court allows Indian Navy to send decommissioned INS Vikrant - India's first aircraft carrier - to Darukhana ship-breaking yard (near Mumbai).
    • After being decommissioned in January 1997, Government had decided to sell it to ship breaking yard. However a petition was filed in the court requesting it to convert in to a Museum instead. But Supreme Court finally concurred with the government's argument that it is in a condition of extreme 'obsolescence and deterioration' and could no longer be repaired or refurbished
    • Earlier known as HMS Hercules (in the British Royal Navy), it was launched in 1945 , bought by India in 1957 and was commissioned in the navy February 16, 1959.
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  • V Chawngthu becomes Mizoram’s first woman MLA since the 1987 state elections
    • she won on the ticket of Congress pary in the by-elections held along with Lok Sabha elections.
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  • Anti-Chinese riots spreads in Vietnam following towing of an oil rig into disputed waters of South China sea claimed by both countries. - read more cat
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  • Finance Ministry accepts recommendations of the M S Sahoo Committee set up in September 2013 to review of rules governing foreign currency convertible bonds (FCCBs) and depository receipts (DRs).
    • As per the recommendations : Depository Receipts, used by companies to raise capital from overseas investors, will be soon treated as shares if they have attached voting rights for the holders.
    • Also - companies (listed or unlisted) should be allowed to issue DRs against any underlying securities (equity or debt)
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  • Palestinians observes Nakba Day ("Day of the Catastrophe")
    • generally commemorated on 15 May, it is also the day of Israeli independence and is observed to mark the displacement of millions of Palestinians from present day Israel following 1948 Palestinian War (Israeli Declaration of Independence)
    • these displaced people took refuge (and still lives here only) in Jordan, Lebanon, Syria, the West Bank and the Gaza Strip.
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2nd Aug

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Sports

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