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‘Nation-State of the Jewish People’

21%
What is it?The percentage of Arabs in Israel, which has a population of about 9 million.

Why is it important? Israel passed a law declaring itself to be ‘Nation-State of the Jewish People’. “Israel is the historic homeland of the Jewish people and they have an exclusive right to national self-determination in it,” the law said. The legislation was first proposed seven years ago.

Tell me more: Critics have slammed Israel for violating its 1948 Declaration of Independence, which promises to treat all its inhabitants equally. They also said the law would complicate the two state solution to the Israeli-Palestinian conflict.

 

25

 

What is it? The price at which Maharashtra government will procure milk (per litre) from farmers starting 21 July.

Why it’s important? This follows four days of agitation by farmers demanding better price for their produce. Such protests are being increasingly seen as an effective way to get things done by the state. Agrarian riots increased eightfold between 2014 and 2016.

Tell me more: Meanwhile, central government is looking to raise export incentives on milk and milk products as a way for farmers to get better returns.

 

19.8 million

 

What is it?The number of smartphones sold by the top 2 players in Indian is second quarter of 2018.

Why is it important?Xiaomi and Samsung stand neck to neck, selling 9.9 million phones each, and accounting for 60% of the market. Samsung’s sales were up 47% year on year, this quarter. Overall smartphone shipments grew 22% during the quarter. The South Korean and Chinese companies were followed by two more Chinese firms, Vivo and Oppo.

Tell me more: Samsung recently opened a factory in India that will have a capacity to produce 120 million phones a year. Rising video consumption in rural India is one of the key drivers of both internet and smartphones in the country.

 

$1,217.95 per ounce

 

What is it? Spot price of gold.

Why is it important? It’s lowest in the last one year, and the dip comes against the expectation that gold prices would go up in the context of geopolitical uncertainty and escalating trade war between US and and China. However, stronger dollar and expectation of two more interest rate hikes by the US Federal Reserve have proven to be bigger drivers so far.

Tell me more:  The Fed raised interest rates in June. Its chairman  Jerome Powell said in a testimony that he sees two years of stable growth ahead of US. US President Donald Trump however has criticized rate hikes for its potential impact on growth and job creation.

 

1 hour 43 minutes

 

What is it?The duration of the total lunar eclipse around midnight on July 27th.

Why is it important? This will be the longest eclipse of the 21st century, according to BM Birla Science Centre. The moon will be passing the middle of earth’s shadow making it longer than an usual lunar eclipse.

Tell me more: The moon will also appear red, as the earth will filter out most of blue light coming from the Sun.

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