30 May 2015 Current Affairs
China Sets Up Largest Gold Fund
China, the world's biggest gold producer, has set up a gold sector fund involving countries along the ancient Silk Road which is expected to raise $16.1 billion. The fund, led by Shanghai Gold Exchange (SGE), is expected to raise an estimated 100 billion yuan ($16.1 billion) in three phases. It is the largest fund set up by China in the gold sector. It is expected that around 60 countries which fall along the routes of 21st Century Maritime Silk Road Or MSR and Silk Road Economic Belt have invested in the fund.Gold purchase for the central banks of member states to increase their holdings of gold would be done by this fund.
U.S.Removes Cuba From State-Sponsored Terrorism List
The United States has removed Cuba from its list of state sponsors of terrorism this is a important move toward restoring diplomatic ties betweenthe countries. Both the countries met to negotiate the details of restoring diplomatic relations, including the opening of embassies in Washington and Havana. The removal form the list of State Sponsor of Terrorism has been one of the key demand of Cuba.
Two Indian American Students Become Spelling Bee Co-winners
Two Indian American students have jointly won the Scripps National Spelling Bee competition.Vanya Shivashankar of Olathe, Kansas, and Gokul Venkatachalam of Chesterfield, Missouri, were declared co-champions. In this year's national championship, 285 spellers competed for the title. Vanya, an eighth grader at California Trail Middle School, has competed in the national bee four other times. Last year, she tied for 13th place. Her older sister, Kavya, was the 2009 National Spelling Bee champion. Gokul, an eighth grader at Parkway West School, came in third place in last year's competition.