CURRENT AFFAIRS AUGUST 7TH

1. The United States designates China a "currency manipulator"

The United States has designated China a "currency manipulator", a move that could escalate the tense trade relations between the two nations.

• During the 2016 presidential elections, Donald Trump had promised to label China as a currency manipulator.
• Treasury Department announced that Secretary Steven Mnuchin, under the auspices of President Trump, has determined that China is a 'Currency Manipulator'.
• Mnuchin, after this decision, will engage with the International Monetary Fund to eliminate the unfair competitive advantage created by China's latest actions.

Points to remember

• "Currency manipulator" is a term used by governmental authorities such as the United States Department of the Treasury to designate countries that engage in a certain degree of currency intervention, a monetary policy in which a central bank buys or sells foreign currency in exchange for domestic currency, generally with the intention of influencing the exchange rate and commercial policy.

2. Bangladesh - Russia sign deal for a lifetime supply of Nuclear fuel

Bangladesh signed a deal with  Russia for the supply of uranium for its 2400 MW Rooppur Nuclear Power Plant (RNPP).

• Under the deal, Russia will supply the nuclear fuel needed for the plant during its entire life cycle.
• Work on the two units of the plants, each producing 1200 MW of electricity is scheduled to be completed in 2022 and 2024 respectively.
• The two countries have also signed 'spent fuel sent back’ agreement in 2017 for management of the nuclear waste of Rooppur Nuclear Power Plant (RNPP).

3. World's thinnest '2D' gold measures just two atoms

Scientists have developed '2D' gold so fine that even a human fingernail is thicker in comparison.

• The scientists at the University of Leeds, England have created the world's thinnest gold measuring two atoms thick or million times thinner than a fingernail.
• In its 2D form, gold becomes flexible that adds to its potential of being used more efficiently such as in bendable screens, electronic inks, medical diagnostic tests, and water purification systems.

4. India contributes USD 5 million to UN Palestine refugee agency

India contributed USD 5 million to the UN Palestine refugee agency and called for ensuring sustained financial support for the organisation's work.

• India increased its annual financial assistance to the UNRWA by four-fold, from USD 1.25 million to USD 5 million, when Prime Minister Narendra Modi visited Palestine in February 2018, the first-ever visit by an Indian Premier to Ramallah. 
• The UNRWA has been providing health, education, relief and social services, as well as emergency humanitarian assistance, across its five areas of operations in Jordan, Lebanon, Syria, West Bank, and the Gaza Strip since 1950.

5. Mountaineering team to hoist Indian flag atop Mount Elbrus on Independence Day

Union Minister of State for Defence Shripad Yesso Naik flagged off an expedition team of mountaineers to Mount Elbrus in Russia.

• The team is aiming to hoist the Indian national flag atop the mountain on Aug 15, on the occasion of the 73rd Independence Day of India.
• The team will also perform 'asanas' atop the mountain in an attempt to showcase the importance of Yoga to the international community.

Points to remember

• Mount Elbrus is a dormant volcano in Southern Russia.
• It is considered the highest mountain in Europe with an elevation of 5,642 m.

6. Rajasthan Assembly passes bills to curb honour killings and Mob Lynching

Rajasthan legislative assembly passed two important bills to curb honour killings and Mob Lynching in the state.

• 'The Rajasthan Protection from Lynching Bill, 2019' and ‘The Rajasthan Prohibition of Interference with the Freedom of Matrimonial Alliances in the Name of Honour and Tradition Bill, 2019’ was passed by the assembly.
• Rajasthan has become the second state after Manipur which passed a law to curb lynching cases.
• Provision of Life term imprisonment and a fine up to Rupees 5 lakh to convicts in cases of mob lynching has been made in the bill.
• The government told during the debate that 87 per cent of the total incidents took place across the country were recorded in the state during the last five years.

7. Andhra Pradesh govt all set to launch Navodayam scheme for MSMEs

The Andhra Pradesh government is all set to launch Navodayam, a complete outreach programme for thousands of ailing Micro, Small and Medium Enterprises (MSMEs) in the state.

• In AP, MSMEs generate maximum employment after agriculture.
• About 86,000 MSMEs in the state have been identified for restructuring under Navodayam with an outlay of Rs 3,900 crore.
• Navodayam will provide a lifeline to stressed MSMEs by ensuring that all eligible units are permitted for the one-time restructuring of accounts up to March 31, 2020.

8. Udaipur set to host India's largest education Brainstorm

The third edition of India's largest education brainstorming event, the ScooNews Global Educators Fest (SGEF) will be held on August 09 and 10 in Udaipur- the City of Lakes.

• It will bring together over 500 educators to discuss the way towards establishing India as the next global education powerhouse.
• The theme for this year's fest is 'Education for Sustainability: Moving on from conformity to creativity'.

9. Former External Affairs Minister Sushma Swaraj passes away

Former External Affairs Minister Sushma Swaraj passed away in New Delhi.

• She was the first woman external affairs minister of India.
• The 67-year-old leader, who had served her fourth term in Lok Sabha had long been her party’s most prominent woman face.
• She was the youngest cabinet minister at 25 when she joined the Haryana government in 1977 and the first woman chief minister of Delhi.
• She was elected seven times as a member of parliament and three times as a member of the legislative assembly.

10. Noble Prize-winning author, Toni Morrison dies

Nobel laureate Toni Morrison, the renowned author of acclaimed novels such as "Beloved" and "Song of Solomon," died at the age of 88.

• Morrison published a total of 11 books during a career spanning over five decades and was the first black woman to receive a Noble Prize.
• Her work, which delved into the themes of race and racism, among others, helped raise United States' multiculturalism to the world stage.