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DAILY DOSE 16th MAY -2024 CURRENT AFFAIRS
1) Wholesale Price Index:
- Inflation in India’s wholesale prices rose to a 13-month high of 1.26% in April, owing to an uptick in food inflation and a 1.4% year-on-year rise in fuel and power prices after several months of deflation.
- Wholesale Price Index (WPI) measures the changes in the prices of goods sold and traded in bulk by wholesale businesses to other businesses.
- It is calculated and published by the Office of Economic Advisor, Department of Industrial Policy and Promotion in the Ministry of Commerce and Industry.
- WPI data is published monthly, with the index value representing an estimate of the price level for the month as a whole, rather than a specific date.
2) Chabahar Port:
- India and Iran signed a 10-year contract on Monday for the operation of a terminal at the strategically important Chabahar port in Iran.
- The long-term bilateral contract was signed between Indian Ports Global Limited (IPGL) and the Port & Maritime Organisation (PMO) of Iran, enabling the operation of the Shahid Beheshti terminal at the Chabahar Port for 10 years.
- The pact replaces one-year contracts that were being signed to keep the port operational until now.
- Chabahar is a deep water port in Iran’s Sistan-Baluchistan province.
- It is the Iranian port that is the closest to India, and is located in the open sea, providing easy and secure access for large cargo ships.
- Modern Chabahar came into being in the 1970s, and Tehran realised the strategic importance of the port during the Iran-Iraq war of the 1980s.
3) BHISHM Portable Cubes:
- BHISHM portable cubes were dropped from an airplane by the Indian Air Force in Agra as part of an important test. These mobile hospitals are meant to provide emergency medical care anywhere, and this event was their first test run.
- Project BHISHM, which stands for “Bharat Health Initiative for Sahyog, Hita, and Maitri,” involves putting up mobile hospital units that can treat up to 200 people at once. The goal of this effort is to respond quickly and provide complete care in emergencies.
- Features of BHISHM Portable Cubes:
- Aid Cubes come with cutting-edge technology, like Artificial Intelligence (AI) and data analytics, that will change the way crisis relief is done forever.
- Using AI and data analytics in Aid Cubes makes it easier for disaster response teams to work together, making sure that aid efforts are coordinated and done on time.
- These movable cubes are made to improve medical care in the field, which is especially important after disasters.
- AI and data analytics make it possible to keep an eye on resources and people in real time, which improves the performance of medical and aid services.
4) High Energy Photon Source:
- China is set to become the first country in Asia with a fourth-generation synchrotron light source with the completion of the High Energy Photon Source (HEPS).
- This advanced facility will produce some of the world’s brightest X-rays, significantly enhancing research capabilities across various scientific fields.
- HEPS will accelerate electrons to 6 gigaelectron volts, enabling high-resolution imaging at nanometre scales and facilitating rapid experiments.
- HEPS (High Energy Photon Source) is recognized as the brightest synchrotron X-ray source in Asia.
5) Nancy Grace Roman Telescope:
- NASA’s upcoming Nancy Grace Roman Space Telescope, set to launch in late 2026, will search for tiny primordial black holes dating back to the Big Bang.
- These hypothetical black holes, with masses similar to Earth or even large asteroids, could revolutionize theoretical physics if detected
- Detection of these small black holes, which would be impossible to form by any known process, would utilize gravitational lensing, where the black holes bend light from distant sources.
6) First Bank To Become a Trading Cum Clearing (TCM) Member:
- State Bank of India (SBI) announced that it has become the first bank to become a Trading cum Clearing (TCM) Member at India International Bullion Exchange (IIBX).
- It enables SBI’s IFSC Banking Unit (IBU) to trade on the IIBX platform as the RBI allowed IBUs to act as trading members and clearing members at IIBX as Special Category Clients (SCCs) for importing gold through the bullion exchange.
- This move is expected to increase trading volumes for gold and silver at the IIBX, bringing transparency and efficiency to India’s Bullion Market.
7) UN Financing For Sustainable Development Report 2024:
- A new report released by the United Nations (UN) stated that more investment is needed if the 17 Sustainable Development Goals (SDGs), agreed upon by all United Nations members back in 2015, are to be achieved by 2030.
- The reason for this situation is due to staggering debt burdens and sky-high borrowing costs faced by developing countries that prevent them from responding to the confluence of crises they face.
Key Highlights of UN Financing for Sustainable Development Report 2024:
- Rising geopolitical tensions, climate disasters and a global cost-of-living crisis have hit billions of people globally, which has halted the progress on healthcare, education, and other development targets.
- Debt services in the Least developed countries (LDC) will increase from USD 26 billion annually in 2022 to USD 40 billion annually between 2023 and 2025.
8) Exercise Tarkash:
- The India-U.S joint exercise in conducting coordinated operations in urban counter terrorism contingencies will conclude in Kolkata.
- Exercise Tarkash is the seventh edition of the Indo-U.S. joint counter terrorism exercise.
- It is held between the elite National Security Guard (NSG) and the U.S. Special Operations Forces (SOF) commenced on April 22, 2024.
- The primary objective of the bilateral exercise is to build functional relation and enhance interoperability between the two special forces in conducting coordinated counter terror operations in urban counter terrorism contingencies.
9) Geomagnetic Storms : Hits Earth
- The strongest geomagnetic storm in over two decades recently hit Earth, causing radio blackouts and extending the northern lights to the southern United States.
- Geomagnetic Storm is a major disturbance of Earth’s magnetosphere that occurs when there is a very efficient exchange of energy from the solar wind into the space environment surrounding Earth.
- These storms result from variations in the solar wind that produce major changes in the currents, plasmas, and fields in Earth’s magnetosphere.
- The solar wind conditions that are effective for creating geomagnetic storms are sustained (for several hours) periods of the high-speed solar wind and a southward-directed solar wind magnetic field (opposite the direction of Earth’s field) at the dayside of the magnetosphere.
10) Tamil Nadu’s Shyaamnikhil Becomes India’s 85th Chess Grandmaster:
- P Shyaamnikhil from Tamil Nadu has etched his name in the annals of Indian chess history by becoming the country’s 85th Grandmaster (GM).
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