Daily Current Affairs, 03rd May 2018

1)  World Press Freedom Day: 3rd May

•Every year, 3 May is a date which celebrated as the World Press Freedom Day to evaluate press freedom around the world, to defend the media from attacks on their independence and to pay tribute to journalists who have lost their lives in the exercise of their profession. This year’s global theme for WPFD is ‘Keeping Power in Check: Media, Justice and The Rule of Law’.

•In 2018, UNESCO will lead the 25th celebration of World Press Freedom Day. The main event, jointly organized by UNESCO and the Government of the Republic of Ghana, will take place in Accra, Ghana.

2)  Maharashtra Becomes 1st To Provide Digitally-Signed Documents

•Maharashtra became the first state to provide digitally-signed land record receipts (also known as 7/12 receipts), which Chief Minister Devendra Fadnavis claimed would check irregularities and bring in transparency.

•The 7/12 receipt is the most important document which establishes the ownership of the land and is primarily used by farmers while applying for loans. It is also used by the government during crop surveys and to extend various facilities.

3)  India Rises To 5th Spot In World's Top Five Defense Spenders

•India has surpassed France to become one of the world's five largest military spenders, Swedish arms watchdog Stockholm International Peace Research Institute (SIPRI) Report.

•India spent $63.9 billion on its military in 2017, an increase of 5.5% compared with 2016. The other countries in top five include the US, China, Saudi Arabia, and Russia.

4)  Cognizant Acquires Belgium-Based Hedera Consulting

•IT firm Cognizant has acquired privately-held Belgium based Hedera Consulting, a move that will strengthen the former’s consulting and digital transformation capabilities for clients in Belgium and the Netherlands.

•The size of the deal was however not disclosed. Founded in 2009, Hedera specialises in business advisory and data analytics services across sectors, helping clients in areas like growth strategy, innovation, marketing, sales and customer service.

5)  ICICI Bank Names Radhakrishnan Nair As Independent Director

•ICICI Bank's board has appointed Radhakrishnan Nair as an additional (independent) director of the bank for five years. 

•The appointment is subject to the approval of shareholders. Mr Nair is also an independent director of three subsidiaries of the bank - ICICI Prudential Life Insurance Company, ICICI Prudential Trust and ICICI Securities Primary Dealership.

6)  Cambridge Analytica Shuts Down All Its Operations

•The controversial UK marketing analytics firm Cambridge Analytica, which has been at the heart of the Facebook data scandal, has announced to cease all its operations immediately and filing for insolvency in Britain and the United States.

•Cambridge Analytica, also said, its British parent firm SCL Elections Ltd is to shutting down immediately. The firm is currently facing allegations of improper use of data on 87 million Facebook users which was hired by President Donald Trump’s 2016 US election campaign.