The First Forum is an initiative that focuses on covering the latest happenings in a brief format. This is in lieu of the importance of knowledge about current happenings in this fast-changing world.
In the Sixty Second Edition of The First Forum we would be covering the following topics:
1. Politics
2. Science and Technology
3. Business
4. Economics
5. Finance
(By Mehak Gupta, Nikunj Gulati, and Kanika Meena)
Politics
Trump tells Americans to try to vote twice during the election
US President Donald Trump has asked his supporters to try to vote twice on November 3. He asked Americans to first vote by mail and then go to the polling station on election day to check whether their ballot was counted and if not, vote again. “You are now assured that your precious vote has been counted”, Trump tweeted. And Twitter hid the Trump tweets added a “public interest notice” citing its rules and civic and election integrity.
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Kerala Health Minister Tops World Top Thinker list overtakes New Zealand PM
British magazine Prospect has named Kerala health minister K. K Shailaja as the ‘top thinker 2020’ in the world. Prospect magazine has selected ‘top 50 thinkers 2020’ including philosophers, intellectuals, artists, scientists and writers through voting by the readers and based on the opinion of the panel of experts and editors. Interestingly, New Zealand Prime Minister Jacinda Ardern is ranked No.2 on the list. After naming her as a ‘Top Thinker’, the British magazine said that KK Shailaja was the “right woman in the right place.’ Read More
Donald Trump drags India into US electoral minefield
US President Donald Trump said that he believes the Indian-American community would vote for him in the upcoming presidential elections by highlighting the great relationship with India. “We have great support from India. We have great support from Prime Minister Modi. I would think that the Indian (American) people would be voting for Trump,” the president told reporters at a White House news conference. Read More
Covid-19 testing our resilience, health system and economy: PM
Prime Minister Narendra Modi has said that the coronavirus pandemic is testing “our resilience, health system and economic system” at the United States – India Strategic Partnership Forum (USISPF). He added that the current situation demands fresh mindsets where the approach to development is human-centric. The five-day-long summit which began on August 31 is based on the theme “US-India Navigating New Challenges”.Read More
Trump called Marines killed in WW1 ‘losers’ and ‘suckers’
US President Donald Trump referred to US Marines buried in a WW1 cemetery in France as “losers” and “suckers” for getting killed in action, the Atlantic Magazine reported. “In a conversation with senior staff members on the morning of the scheduled visit, Trump said, ‘Why should I go to that cemetery? It’s filled with losers,'” the article said. Read More
Science and Technology
Has Earth’s oxygen rusted the Moon for billions of years?
Iron is highly reactive with oxygen – forming reddish rust commonly seen on Earth. The lunar surface and interior, however, are virtually devoid of oxygen, so pristine metallic iron is prevalent on the Moon and highly oxidized iron has not been confirmed in samples returned from the Apollo missions. In addition, hydrogen in solar wind blasts the lunar surface, which acts in opposition to oxidation. So, the presence of highly oxidized iron-bearing minerals, such as hematite, on the Moon is an unexpected discovery. Read More
Splitting water molecules for a renewable energy future
One proposed paradigm for shifting away from fossil fuels is the hydrogen economy, in which hydrogen gas powers society’s electrical needs. To mass-produce hydrogen gas, some scientists are studying the process of splitting water — two hydrogen atoms and one oxygen atom — which would result in hydrogen fuel and breathable oxygen gas. The core idea of this study goes back to a subject in general chemistry classes: catalysts. Read More
Plant protein discovery could reduce the need for fertilizer
Researchers have discovered how a protein in plant roots controls the uptake of minerals and water, a finding which could improve the tolerance of agricultural crops to climate change and reduce the need for chemical fertilizers. This is the first evidence showing the implications of this family in the biosynthesis of lignin, one of the most abundant organic polymers on earth. This study reveals that the molecular machinery required for Casparian strip lignin deposition is highly ordered by forming nano-domains which can have a huge impact on plant nutrition, a finding that could help in the development of crops that are efficient in taking in the nutrients they need. Read More.
Researchers identify nanobody that may prevent COVID-19 infection
Researchers at Karolinska Institute in Sweden have identified a small neutralizing antibody, a so-called nanobody, that has the capacity to block SARS-CoV-2 from entering human cells. The researchers believe this nanobody has the potential to be developed as an antiviral treatment against COVID-19. The search for effective nanobodies — which are fragments of antibodies that occur naturally in camelids and can be adapted for humans — began in February when an alpaca was injected with the new coronavirus’ spike protein, which is used to enter our cells. After 60 days, blood samples from the alpaca showed a strong immune response against the spike protein. Read More
Wool-like material can remember and change shape
Now, researchers at the Harvard John A. Paulson School of Engineering and Applied Sciences (SEAS) have developed a biocompatible material that can be 3D-printed into any shape and pre-programmed with reversible shape memory. The material is made using keratin, a fibrous protein found in hair, nails, and shells. The researchers extracted the keratin from leftover Agora wool used in textile manufacturing. A single chain of keratin is arranged into a spring-like structure known as alpha-helix. Read More


Business
Strides Pharma gets US FDA nod for generic anti-inflammatory drug
Drug firm Strides Pharma Science on Thursday said it has received approval from the US health regulator for generic Prednisone tablets used as an anti-inflammatory medication. Strides Pharma Global Pte Ltd, Singapore, the company’s step-down wholly-owned subsidiary, has received approval for Prednisone tablets USP in the strength of 1 mg from the United States Food & Drug Administration (USFDA), Strides Pharma Science said in a filing to the BSE. Read More
Facebook responds to Congress, says it is non-partisan, and denounces hate
Amid a raging controversy over Facebook’s alleged political bias and interference in India’s democratic process, the social media giant has told the Congress that it is non-partisan, denounces hate and bigotry in all forms, and strives to ensure that its platforms remain a space where people can express themselves freely. Responding to concerns raised by the opposition Congress, Facebook’s Public Policy, Trust, and Safety Director Neil Potts have said that it has taken the party’s allegation of bias very seriously and will ensure that it remains non-partisan and is committed to maintaining the highest levels of integrity. Read More
RBL Bank launches a cardless cash withdrawal facility through ATMs
RBL Bank on Thursday said it has launched a cardless cash withdrawal facility from ATMs, leveraging the Instant Money Transfer (IMT) system. The private sector lender said it has tied-up with Empays Payment Systems, a global financial technology provider, to offer this service. RBL Bank customers can withdraw cash without their debit cards from 389 IMT-enabled automated teller machines (ATMs) of the bank or more than 40,000 other bank ATMs across the country, it said in a release.Read More
Silver Lake in talks to take $1 billion stakes in Reliance Retail
Private equity firm Silver Lake Partners is in talks to invest $1 billion in the retail arm of India’s Reliance Industries Ltd (RELI.NS), the Financial Times reported on Thursday, citing people with direct knowledge of the matter. The investment, which would value Reliance Retail at about $57 billion, comes as the company is aiming to sell about 10% in new shares, the report added. Silver Lake declined to comment on the report, while Reliance could not immediately be reached outside of normal business hours.Read More
Airlines are removing seats to make space for gadgets and seafood
Cargo, one of the least glamorous aspects of flying, is proving a rare ray of light for airlines amid the coronavirus gloom. The grounding of passenger planes at a time of increased demand for everything from medical supplies to iPhones has boosted freight rates. With much of the world’s population house-bound and shopping online instead of hitting the malls, analysts see no let-up in demand, particularly as the peak year-end holiday season approaches. Read More
Economics
GDP Plunges by Record 23.9% in Q1 as India Enters Recession
India’s April-June quarter GDP contracted by a massive 23.9% year-on-year (YoY), the first GDP contraction in more than 40 years. As per the National Statistical Office (NSO), gross value added (GVA) came in at -22.8%. A contraction in India’s GDP was largely expected by economists, however the majority had predicted a shrinkage no greater than 20 per cent. This is the sharpest contraction since the nation started publishing quarterly figures in 1996 and is worse than any of the G20 nations. Read More
Japan offers sops to companies shifting base from China
In a bid to diversify its supply chains, the Japanese government will give subsidies to its manufacturers to shift base out of China and move to India or Bangladesh. Japanese manufacturers that move production away from China and into ASEAN (The Association of Southeast Asian Nations) countries will be given sops under the expansion of a state-backed ‘China exit’ subsidy program. By expanding the scope of the subsidy programme, Japan aims to reduce dependence on China as the supply chains were severed during the coronavirus lockdown. Japan is moving to build a system which is able to provide a stable supply of medical materials and electronic components even in an emergency. Read More
India open to raising duties on auto imports to boost local production
Commerce Minister Piyush Goyal has said that the government is open to raising duties on auto imports in a phased manner in a bid to boost domestic production, as the country’s car industry set a target to halve imports of components within five years. raising duties was “not a bad idea” to discourage automakers from importing car kits, comprised of partially or completely knocked down vehicles, and using India only as an assembly base to get market share there. Read More
Xi promises more market opening at first trade fair after COVID-19
President Xi Jinping pledged to open China’s service industries wider to foreign competitors as its first in-person trade fair since the coronavirus outbreak opened under intensive anti-disease controls. While Xi has not given any details but Chinese leaders are emphasizing development of tourism, retailing and other services. These are part of a campaign to nurture economic growth driven by consumer spending instead of exports and investment. Read More
U.S. Budget Deficit to hit $3.3 trillion, Exceeding Size of Economy in 2021
The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office(CBO) said. Debt held by the public will reach $21.9 trillion in the fiscal year ending September 2021, or the equivalent to 104.4% of gross domestic product, up from 98.2% in the current year, the CBO said.Read More
Finance
Foreign investors flock to Indian stock market despite GDP contraction
India’s contraction of the economy is not preventing foreign investors from pouring money into the country’s stocks with the bet on a recovery. International buyers invested a net $ 6 billion in stocks of Asia’s third-largest economy in August, the highest number since March of last year. That’s because every other market in the region, except China, suffered net pullbacks during the month.Read More
Warren Buffett’s Berkshire cuts stake in Wells Fargo by 43%
Warren Buffet’s Berkshire Hathaway has slashed its stake in Wells Fargo by 43% by selling over 100 million shares, the company said. It now holds a 3.3% stake or 136 million shares in the bank which are worth around $3.4 billion. Berkshire had already cut its stake in Wells Fargo by 25% in the second quarter.Read More
Trader accidentally sells off a Chinese company’s founder shares
Li Dongsheng, the Founder and Chairman of Chinese electronics company TCL. Technology Group said that a trader accidentally sold 50 lakh shares from his account after typing the wrong stock code. I bought back the shares for 35.8 million yuan ($5.2 million) less than two hours after the trader sold them for 35.9 million yuan, the firm said. He will hand over profits from the trade to the company, the statement added. Read More
Vodafone Idea Board approves fundraising plan
Vodafone Idea board has approved a fundraising plan of up to Rs.25,000 crore by way of equity share sale and debt, the company said. The crucial decision came days after the Supreme Court directed telecom operators to pay 10 per cent of total adjusted gross revenue (AGR)-related dues this year, and rest of the payments in 10 instalments, starting next fiscal year. Read More
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