Oliver Hart and Bengt Holmstrom win 2016 Nobel Prize in Economics
- Oliver Hart (British-born) and Bengt Holmstrom (Finland) have won the Nobel Memorial Prize in Economic Sciences for their contributions to contract theory, shedding light on how contracts help people deal with conflicting interests.
- Both of them will share 8 million kronor(about $930,000).
- Contract theory can be used to analyze performance-based pay for CEOs or deductibles and co-pays for insurance
- The laureates will collect them on 10th December, the anniversary of prize founder Alfred Nobel’s death in 1896.
- The economics prize is not an original Nobel Prize.
- It was added to the others in 1968 by Sweden’s central bank.
Sprinter Srabani Nanda to get Ekalavya Award 2016
- Ace sprinter Srabani Nanda will be conferred with the prestigious 24rd Ekalavya award for the year 2016.
- Nanda will got a cash award of Rs. 5 lakh along with a trophy.
- Srabani participated in women 200 metre event of the Rio Olympics in 2016.
- She bagged a gold and silver medal in 200 and 100 metre respectively at the 2016 South Asian Games in Assam.
- The award was instituted by Indian Metals Public Charitable Trust (IMPaCT), the charitable wing of the IMFA Group in 1993.
- Award conferred every year on young sports persons of Odisha.
World Mental Health Day: 10th October
- World Mental Health Day is observed every year on 10th October to raise awareness about mental health issues around the world and mobilizing efforts in support of mental health.
- The theme for this year is “Psychological First Aid“.
Chinese President Xi Jinping appoints new envoy to India
- Chinese President Xi Jinping has appointed a senior diplomat Luo Zhaohui (54-years) as China’s new Ambassador to India.
- He was China’s Ambassador to Canada from 2014 to 2016.
- Former Chinese Ambassador to India Le Yucheng left New Delhi in April.
Edutainment platform for primary schools in Kerala
- The Kerala State education department has introduced New Information Communication Technology (ICT) textbooks for primary classes from 1st to 4th.
- Around 1.5 million students can enhance their learning ability with the introduction of a new textbook which integrates even games through meaningful learning situations in Kerala.
- The new textbook, named ‘Kalipetty‘ (which means play box), has been developed in a scientific manner and is expected to simplify mathematics and other subjects.
India’s first Medipark will be set up in Tamil Nadu
- India’s first Medipark (Medical Park) will be set up at Chengalpet near Chennai, Tamil Nadu.
- The Union Cabinet has allowed a mini ratna public sector company HLL Lifecare to sub-lease over 300 acres of land.
- The Medipark will be funded through a Special Purpose Vehicle (SPV) with HLL being shareholder of a 50%.
- The first of its kind Medipark project will lay road map to reduce the dependence on imports of medical equipment and devices.
Govt to get Rs 37000 crore from spectrum auction this fiscal
- Union government will garner as much as 37,000 crore rupees this fiscal from spectrum auction after taking into account close to 5,000 crore rupees of service tax that telecom companies will pay.
- The government has received commitment of 65,789 crore rupees by selling 964.80 MHz of spectrum.
- Total of 930 Mhz of spectrum sold over the last four years, government sold 965 Mhz of spectrum in the 2016 auctions.
- Of this, winners have to deposit 32,000 crore rupees within 10 days of receipt of allotment letters.
India’s first international arbitration centre inaugurated in Mumbai
- India’s first International Arbitration Centre has been inaugurated in Mumbai, Maharashtra to provide an arbitration platform for Indian business houses to negotiate commercial disputes.
- The Mumbai Centre for International Arbitration (MCIA) was launched by Maharashtra Chief Minister Devendra Fadnavis.
- MCIA not-for-profit organization governed by a council comprising eminent national and international legal luminaries.
Andy Murray wins China Open Men’s title
- Britain’s tennis player Andy Murray has won his first China Open title 2016.
- Murray beat Bulgarian Grigor Dimitrov (World number- 20) in straight sets 6-4, 7-6 (7/2) to win title.
- Andy Murray secured his 5th singles title of 2016 and 40th of his career
Agnieszka Radwanska wins China Open women’s title
- Poland’s Agnieszka Radwanska has won the China Open Women’s Singles at Beijing, China.
- She defeated British tennis player Johanna Konta in straight sets 6-4, 6-2.
Indian shuttlers claim two titles at Russian Open
- Indian shuttler Ruthvika Shivani Gadde (19-year) has won the women’s singles title at the Russian Open Grand Prix beating local favourite Evgeniya Kosetskaya 21-10, 21-13 in Vladivostok.
- In the mixed doubles N Sikki Reddy and Pranaav Chopra edged past the Russian duo of Vladimir Ivanov and Valeria Sorokina 21-17 21-19 to claim the title.
Maruti Suzuki Raid de Himalaya flagged off
- The world’s highest arena rally Maruti Suzuki Raid de Himalaya (18th edition) has flagged off from Manali in Himachal Pradesh.
- The rally will cross the challenging route of Kaza, traversing through Sarchu towards Leh over the course of seven days.
- Over 240 motor sport enthusiasts in 155 teams are participating in this rally.
- The participants will compete in three categories- Cars Extreme, Bikes Extreme and Adventure Trial.