1.Moody's Investors Service cut India's GDP growth forecast for 2019 calendar year to 6.2% from the previous estimation of 6.8%. For 2020 calendar year, it reduced the estimate by a similar measure to 6.7%.ANZ slashed forecast for India’s GDP growth to 6.2% for 2019-20.
2.President Kovind inaugurated the first World Youth Conference on Kindness in New Delhi. It is organized with an aim to impart critical competencies in global youth & enable them to transform themselves & build long-lasting peace in their communities.International Youth Day – August 12.
3.India and France signed an agreement on behalf of the Indian Space Research Organisation & Paris-based National Centre for Space Studies for the establishment of a joint maritime domain awareness mission to detect and tackle threats emanating from the sea.Prime Minister of France - Edouard Philippe.
4.Government is planning to launch an e-commerce project called 'Bharatcraft' for micro small & medium enterprises, on the lines of platforms such as Alibaba. The proposed platform could generate a turnover of ₹ 10 trillion over the next few years.MSME sector currently contributes 29% to the country's GDP.
5.New Delhi is the 10th fastest growing prime market in the world on Knight Frank's Prime Global Cities Index. Delhi saw a 4.4% rise in weighted average of capital values. Bengaluru (2.8%) & Mumbai (0.8%) were ranked 15th and 30th on the list, respectively.Shishir Baijal is the CMD of Knight Frank India.
6.Union Minister Smriti Zubin Irani has launched a project named SU.RE (sustainable resolution) to move towards sustainable fashion that contributes to a clean environment. It involves 16 leading retail fashion brands, reflects the thought of Mahatma Gandhi.Combined industry value of 16 signatories is around ₹ 30000 Cr.
7.Vishnu P R from Thiruvananthapuram is selected to participate in the first-ever Youth Climate Summit. It is a platform for young leaders to showcase their solutions for climate change on a global stage. He is one of the 100 participants in the summit.He is the CEO of Change Can Change Climate Change (C5)Foundation.
8.The department of defence production has set itself a target of producing equipment worth ₹ 90,000 Crore in the financial year 2019-20. Exports worth ₹ 15000 crore have been envisaged from the total quantity of equipment produced.The production target set for FY20 is 12% higher than the FY 19.
9.Serbia became a non-regional member of the Asian Infrastructure Investment Bank. Serbia adopted the Law on Confirmation of the Founding Act of the AIIB, deposited the instrument of accession & paid the 1st installment of its share in the bank's capital.AIIB began operation in January 2016 with 57 founding members.
10.Iranian President Hassan Rouhani has inducted a locally built air-defence system into the country's missile defence network named ‘Bavar-373’. It is the country's first domestically produced long-range missile defence system.Capital of Iran is Tehran; Currency – Rial.
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