Daily GK Update: 12th October 2015

Scottish Economist Angus Deaton wins 2015 Nobel Prize in Economics. He was awarded for his work on consumption, poverty and welfare.
He will receive a cash prize of 8m Swedish kronor.
Angus Deaton’s most recent book, “The Great Escape” published in 2013.
In 2014, the Noble Prize for Economics won by French economist Jean Tirole for his pioneering work on the regulation of large companies.

Veteran communist leader KP Sharma Oli was elected as the Prime Minister of Nepal.
He is the country’s first Prime Minister under the newly introduced constitutional system.
He defeated incumbent Prime Minister Sushil Koirala of the Nepali Congress.
Out of the Nepal’s Parliament house of 597 members, Oli secured 338 votes, 39 more than the 299 that he needed to be elected as the prime minister. On the other hand, Nepali Congress President Koirala could only secure 249 votes.

India will observe 26 November as Constitution Day (Samvidhan Divas) announced by Prime Minister Narendra Modi.
The Constitution Day will be observed to spread awareness of Indian Constitution and its architecture Dr B R Ambedkar.
On 26 November 1949, Indian constitution was adopted by the 389 member Constituent Assembly (CA) and it came into force on 26 January, 1950.

Sania Mirza and Martina Hingis won women’s doubles title of the China Tennis Open. The top-seeded Indo-Swiss pair defeated Chinese Taipean pair of Hao-Ching Chan and Yung-Jan Chan 6-7 (9), 6-1, 10-8.
This was eighth title of the season as a team for Sania-Hingis and fourth title in a row.

The Odisha Government launched Mission Abaas, state’s urban housing mission, to provide affordable houses to Economically Weaker Sections (EWS), Low Income Groups (LIG) and slum dwellers.
The scheme aims at fulfilling the promise of protection and welfare of slum dwellers by providing affordable housing along with basic amenities such as piped water supply, electricity, concrete roads, drainage and community centre.
Abaas will be the nodal agency to execute the Policy for Housing for All in Urban areas.

India and Jordan inked six Memorandum of Understandings (MoUs) in various fields to enhance cooperation between the two countries. The MoUs were signed as part of the President Pranab Mukherjee’s state visit to Jordan.
List of agreements include: Agreement on Maritime Transport, MoU on exchange of information on structure and content of training programmes for diplomats, MoU on Cooperation in the field of IT & Electronics, Cultural Exchange Programme for 2015-17, MoU for Cooperation in the fields of Standardization and Conformity Assessment, Cooperation Agreement between Jordan News Agency [Petra] and Press Trust of India [PTI].

Fiji’s Parliament elected the Minister for Employment, Productivity and Industrial Relations, Jioji Konrote, as the country’s next President.
Konrote was nominated by the ruling Fiji First party.
He secured 31 votes in the presidential election held in the parliament. On the other hand, the opposition SODELPA party’s candidate Ratu Epeli Ganilau received 14 votes.

The Fourth International Day of the Girl Child (IDGC) was observed across the world on 11 October 2015.
The theme of IDGC was The Power of Adolescent Girl: Vision for 2030.
It was created by the United Nations through a resolution in 2011.
Its objective is to promote the rights of girls and address the unique challenges they face.
It was held for the first time on 11 October 2012.

Punjab National Bank (PNB) won the Beighton Cup hockey tournament at the Sports Authority of India (SAI) ground in Kolkata. PNB defeated Indian Oil Corporation (IOC) by 5-3 in penalties.
Beighton Cup is one of the oldest field hockey tournaments. It was instituted in 1895.
It is organised by Bengal Hockey Association and is held on Astro Turf (artificial grass) at Sports Authority of India in Kolkata. The game was initially used to be held on natural grass at the Mohun Bagan ground in Kolkata.

Ajay Jayaram of India defended the 2015 Dutch Open Men’s Singles badminton title.
In the summit clash held at Almere in Netheralnds, the World Number 26 ranker defeated Estonia’s Raul Must by 21-12 21-18.

British telecom giant Vodafone has wins the transfer pricing tax dispute case against Indian Income Tax authorities after Bombay High Court ruled in its favour.
The court decision came after Vodafone India had challenged the order of the Income Tax Appellate Tribunal (ITAT).
In 2014, the IT tribunal had stayed the tax demand during the proceeding of the case and had asked Vodafone India to deposit 200 crore rupees by February 2014.

Retail major Future Group tied-up with Baba Ramdev-promoted Patanjali Ayurved to sell the Patanjali’s FMCG products on its stores with plans for joint manufacturing in future.
With this partnership, Patanjali’s FMCG products including staples, nutrition, hair care, skin care, dental care and toiletries will now onwards be also sold on Future Group’s Big Bazaar, KB’s and EasyDay outlets across India.