Commonwealth summit opens in London
• British Prime Minister Theresa May on April 16, 2018 opened the Commonwealth Business Forum (CBF) in London, marking the start of the Commonwealth Heads of Government Meeting (CHOGM).
• India is among 52 other member-countries participating in the summit hosted by the UK in London around the theme of "Towards a Common Future".
• United Kingdom, which is the Chair-in-Office of the Commonwealth for two years, also unveiled a range of new initiatives and networks to mark the launch of CHOGM.
ASCI becomes member of Ayush committee
• The Advertising Standards Council of India (ASCI) was on April 16, 2018 inducted to the Ayush Ministry's empowered committee with an objective to control misleading advertisements and exaggerated claims of its drugs.
• The seven-member committee of the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH) will be empowered to review and monitor the implementation of the provisions of The Drugs and Magic Remedies (Objectionable Advertisement) Act, 1954.
• The committee will make recommendations for regulatory action against misleading advertisements and advise the Central government for issuing any specific directions.
Suresh Prabhu launches digital platform for MSME Exporters
• The Minister of Commerce & Industry Suresh Prabhu launched the ‘FIEO GlobalLinker’, a digital platform for MSME exporters to digitise their businesses and join a global community of growing businesses.
• FIEO GlobalLinker will make the business growth of SMEs simpler, more profitable and enjoyable.
• FIEO is available free of cost and it offers exporters a range of features and benefits like:
• Exporters will be able to find clients, suppliers and advisors using the search and review facilities of the platform.
India to work with China on OPEC’s Asian Premium Issue
• Petroleum Minister Dharmendra Pradhan on April 15, 2018 announced that India will coordinate with China and other Asian countries to raise voice against the “Asian premium” being charged by the Organisation of the Petroleum Exporting Countries (OPEC).
• Indian Oil Corporation Chairman Sanjiv Singh will coordinate with Head of China National Petroleum Corporation (CNPC) to formulate a strategy that will result in getting better price from OPEC countries.
• Asian Premium is extra charge that is collected by OPEC countries from Asian countries when selling oil in comparison to western countries.
Video: Check out the latest current affairs of this week
USFDA approves world’s first contact lens that automatically darkens when exposed to light
• The US Food and Drug Administration (FDA) approved use of ‘Acuvue Oasys Contact Lenses’ with Transitions Light Intelligent Technology, world’s first contact lens that automatically darkens when exposed to bright light.
• It is first of its kind contact lens that incorporates same technology that is used in eyeglasses that automatically darken in the sun.
• These contact lens are indicated for daily use to correct vision of people with non-diseased eyes who are nearsighted (myopic) or farsighted (hyperopic).
Pakistan successfully test-fires Babur cruise missile
• Pakistan successfully test fired Babur Weapon System-1 (B), an enhanced version of indigenously-built Babur cruise missile.
• It is an unmanned self-propelled guided missile.
• It flies within the earth’s atmosphere and uses jet engine technology to propel itself.
• It is designed to deliver a large warhead over long distances with high precision.
US adds India to the currency practices and macroeconomic policies monitoring list
• The US Department of Treasury has added India in the monitoring list of its major trading partners that value close attention to their currency practices and macroeconomic policies.
• The list was part of semi-annual report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.
• India is the sixth addition to the watch list which comprises China, Japan, South Korea, Germany and Switzerland.
• As per the media report, India has a USD 23 billion trade surplus with the United States.