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- The world’s first ATM (automated teller machine) celebrated its 50th anniversary on this day. The ATM machines were the brainchild of Scottish inventor Shepherd-Barron. The first ATM was opened on June 27, 1967, by Barclays Bank in Enfield, north London.
- Google was fined a record 2.42 billion euro by the European Union watchdog for breaching the anti-trust rules by illegally favouring its shopping service. Google according to the European Commission has abused its market dominance by offering an illegal advantage to its product, its comparison shopping service.
Kaushik Basu - Kaushik Basu has taken over as the President of the International Economic Association(IEA) for a 3-year term. Kaushik Basu has served as India’s chief economic adviser from 2009 to 2012. He has also served as senior vice-president and chief economist at the World Bank from 2012 to 2016. The International Economic Association (IEA) is one of the key organisations of professional economists and has been significant in determining global economic policy and research.
- BCCI formed a seven-member committee to analyse Lodha panel reforms which are being opposed by the state units. he seven-member Lodha committee has been formed under the head of Rajeev Shukla. The other members of the committee include former India captain Sourav Ganguly, T.C. Mathew (Kerala Cricket), Naba Bhattacharjee (North East representative), Jay Shah (Gujarat Cricket Association), BCCI Treasurer Anirudh Chaudhary and BCCI acting secretary Amitabh Choudhary.
- To ensure authenticity of organic food products, FSSAI has come out with draft regulations for organic food. At present, the consumers do not have any method to check the authenticity of the organic food products due to the absence of a regulatory framework.
- The United States is set to declare China as one among the world’s worst offenders on human trafficking in its annual Trafficking in Persons Report. He move will be Donald Trump administration’s first major public rebuke of China’s human rights record.
- After Trump administration came to power, Indian Prime Minister Narendra Modi became the first foreign leader to have a White House dinner. Amongst the key takeaways US has designated Hizbul Mujahideen Chief Syed Salahuddin as a global terrorist. The 71-year-old Salahuddin also leads the United Jihad Council, which is an umbrella organisation of militant groups operating in Kashmir.
- In Romania, President Klaus Iohannis has appointed outgoing economy minister Mihai Tudose as Prime Minister and thus paved the way for the formation of a new leftist Social-Democrat-led government in that country.
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