WELCOME TO CSS TIMES DAY BY  DAY CURRENT AFFAIRS, YOUR BEST SOURCE FOR UP-TO-DATE AND DAILY TOP CURRENT AFFAIRS 2018 FOR PREPARATION OF CSS, PMS, BANKING, NTS, RAILWAYS AND ALL COMPETITIVE EXAMS.  “DAY TO DAY CURRENT AFFAIRS” BASICALLY IS TOP 10 NEWS SUMMARY ON CURRENT HAPPENINGS OF NATIONAL AND INTERNATIONAL IMPORTANCE FOR ALL EXAMINATIONS

 October 05, 2018: National Current Affairs

 1. IMF calls for further hike in gas, power tariffs

• Pakistan is facing significant economic challenges, with declining growth, high fiscal and current account deficits and low levels of international reserves, says a report the International Monetary Fund (IMF) released on October 4, 2018.
• The IMF end-of-mission statement acknowledges that Islamabad has recently taken some policy measures, but said those were not sufficient and `decisive policy action and significant external financing` were needed to stabilise the economy.
• `Once stabilisation is beginning to take hold, increasing focus is warranted on critical reforms to foster sustained and inclusive growth and strengthen institutions,` the report says.
• An IMF staf f team led by Harald Finger visited Islamabad from Sept 27 to Oct 4 to discuss Pakistan`s economic situation andexchange views on policies required for economic stabilisation and sustainable and inclusive growth.
• At the end of the visit, Mr Finger observed: `Pakistan is facing an increasingly dif ficult economic situation, with high fiscal and current account deficits, and low international reserves.` He blamed `overvalued exchange rate, loose fiscal policy and accommodative monetary policy` for this situation.

2. Pakistan ready to contest Jadhav case at ICJ

• Pakistan on October 4, 2018 said it was fully prepared to face challenge to the conviction of Indian spy Kulbhushan Jadhav before the International Court of Justice (ICJ).
• `We are fully prepared to defend the case of Commander Kulbhushan Jadhav in the International Court of Justice next year, Foreign Office spokesman Dr Mohammad Faisal told his weekly press briefing.
• Indian Prime Minister Narendra Modi had written a letter to which Prime Minister Imran Khan had responded.
• Later, India first agreed but in less than 24 hours withdrew its agreement. `The only way forward, which is known to Pakistan, is through dialogue, which should be uninterrupted and uninterruptible,` he remarked.

3. Yasinzai sworn in as Balochistan governor

• The newly-appointed governor of Balochistan, Amanullah Khan Yasinzai, former chief justice of the Balochistan High Court (BHC), took the oath of his new office on October 4, 2018.
• Chief Justice of the BHC, Justice Tahira Safdar administered the oath to the new governor at Governor House in a simple ceremony.
• President Arif Alvi had appointed Mr Yasinzai on the recommendation of Prime Minister Imran Khan

4. Prime Minister forms Council of Business Leaders

• Prime Minister Imran Khan has constituted a 22-member Council of Business Leaders (CBL), inducting prominent businessmen to ensure the availability of best professional advice to the government for resolving trade related issues.
• The CBL will be headed by the prime minister himself to ensure implementation of decisions especially those required for the promotion of exports and resolve the current account deficit issues at the earliest.
• The Commerce Division will work as secretariat for the CBL. Adviser to the Prime Minister on Commerce, Razak Dawood, will be the president of the CBL, whereas secretary commerce will act as the council`s secretary, according to the notification issued on Thursday.
• The Council is constituted on the pattern of Federal Export Promotion Board which was also headed by prime minister and was empowered to resolve inter-ministerial issues related to export promotion at earliest.

5. Pakistan asks India to share Kishanganga water data

• Pakistan has asked India to immediately share the data showing inflow and discharge of water at the Kishanganga dam and water flows in different rivers.
• It has also sought dates for inspection of the 330MW hydroelectric project that India had agreed to during a two-day meeting held in August in Lahore between Indus water commissioners of the two countries.
• During the 115th meeting of the Permanent Commission for Indus Waters, India had agreedto allow Pakistan to inspect the projects built on the Jhelum basin, including Kishanganga hydroelectric project, in the near future.

6. Pakistan tells UN it faces terror threat from outside

• Pakistan has successfully dislodged terrorist sanctuaries from its territory, but now the principal threat is coming from beyond the country’s borders, Ambassador Maleeha Lodhi has told a United Nations Committee.
• Speaking in the General Assembly’s Sixth (Legal) Committee, she said that Pakistan was combating the challenge from abroad by implementing a comprehensive border management system along its Western border.
• “Terrorists and their evil acts have never shaken my country’s resolve and determination to continue the fight to defeat it,” Ambassador Maleeha Lodhi, Pakistan’s permanent representative to the UN, said in a debate on terrorism.
• “The hard-earned stability that Pakistan enjoys today has been attained through a comprehensive approach against terrorism,” she added.

October 5, 2018: International Current Affairs

7. Iran has no objection to Saudi investment in CPEC: envoy

• Iranian Ambassador to Pakistan Mehdi Honardoost has said that his country has no objection to Saudi investment in the China Pakistan Economic Corridor (CPEC), and that Tehran will welcome investments from any Muslim country.
• He rejected the rumours that Iran was against Saudi investment in Balochistan. He said the CPEC was not just a transit route or a trade project, but was a game changer which would transform the region. `Iran is ready to play its role in CPEC as it would open the doors of development and prosperity,` the envoy said.

8. China used tiny chips on US computers to steal secrets: Bloomberg

• Tiny chips inserted in US computer equipment manuf actured in China were used as part of a vast effort by Beijing to steal US technology secrets, a published report said on October 4, 2018.
• The Bloomberg News report said the chips, the size of a grain of rice, were used on equipment made for Amazon, which first alerted US authorities, and Apple, and possibly for other companies and government agencies.
• Bloomberg said a three-year secret investigation, which remains open, enabled spies to create a `stealth doorway` into computer equipment, a hardware-based entry that would be more effective and harder to detect than a software hack.
• Citing unnamed US officials, Bloomberg said a unit of the People`s Liberation Armywere involved the operation that placed the chips on equipment manufactured in China for US-based Super Micro Computer Inc.

9. US, Chinese unease as Putin seeks India arms deals

• Russian President Vladimir Putin arrived in India on October 4, 2018 looking to tie up billions of dollars in arms deals with Prime Minister Narendra Modi, likely irking the US, China and Pakistan in one fell swoop.
• The Kremlin said before the two-day visit by Putin and top ministers that the “key feature” would be the signing of a $5-billion deal for the S-400 air defence system, despite the risk of US sanctions against countries buying Russian defence kit.
• Putin arrived in Delhi on October 4, 2018 evening. The route of Putin’s convoy was lined with placards welcoming him in Russian and Hindi.
• On October 3, 2018, the United States poured cold water on India’s efforts to obtain a waiver to avoid sanctions under legislation called Countering America’s Adversaries Through Sanctions Act (CAATSA).
• Upgrades in arms systems “including the S-400 air and missile defense system” would be a particular focus for CAATSA, a US State Department spokesperson was quoted as saying by India’s PTI news agency.
• Last month Washington slapped financial sanctions on the Chinese military for buying Russian Sukhoi Su-35 fighter jets – and the S-400.
• However, the US is in a difficult position when it comes to India. It wants to bolster ties with New Delhi to counter China’s growing assertiveness, something that has also rattled India.

October 5, 2018: Sports Current Affairs

10. De Villiers, Smith headline PSL player draft platinum roster

• South African legend AB de Villiers and prolific Australian batsman Steve Smith will be two of the star attractions at this year’s Pakistan Super League (PSL) player draft.
• Some of the world’s most exciting T20 stars are set to dazzle at the PSL once again which re-runs to action on February 14 next year.
• The list also includes the West Indies’ trio of Dwayne Bravo, Kieron Pollard and Sunil Narine.