Current Affairs – October, 2016

Latest Current Affairs October, 2016 with Current Affairs, news summary on current events of National and International importance of October, 2016 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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EU ministers approve ratification of Paris climate Agreement

The European Union (EU) ministers have approved the ratification of Paris Agreement (on Climate Change). This decision brings the Paris Agreement closer to entering into force.

Once approved by the European Parliament, the EU deposit its ratification instrument before national ratification processes which are completed in each member state. As of now, only 5 EU nations have ratified the agreement at the national level.

Comment

  • The 28 EU member nations together account for close to 12% of global greenhouse gas (GHG) emissions.
  • The addition of EU will take the cumulative emissions of ratifying parties of the agreement well beyond the 55% minimum required for the treaty to enter into force.
  • The Paris Agreement has been already crossed the first condition of 55 countries ratifying the treaty to enable its entry into force.
  • As of now, 61 countries, accounting for almost 48% of global GHG emissions have ratified the deal.
  • India, which accounts for 4.1% of global GHG emission also has agreed to ratify it on October 2, 2016.
  • Together with the EU, total global GHG emissions covered by ratifying parties will make the treaty ready to enter into force.

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Infosys unveils Skava Commerce, a modular e-commerce platform

India’s second largest software services major Infosys has launched “Skava Commerce” a new standard for modern, mobile-first and modular e-commerce platform for retailers.

The platform has been developed by Skava, a Silicon Valley-based e-commerce start-up that Infosys had acquired in June 2015 for 120 million dollars.

Key Facts

  • The Skava Commerce platform can help brick-and-mortar retailers to quickly launch new offerings, improve conversion rates of traffic coming from digital channels.
  • It can integrate with existing technologies, while providing a future-ready architecture that will enable next generation shopping experiences.
  • It leverages Artificial Intelligence (AI) and machine learning, natural language processing and virtual reality (VR).
  • It provides suite of e-commerce micro-services that can be used stand alone or in conjunction with others and can be implemented without downtime.
  • Skava Commerce’s modern architecture scales as traffic increases in order to provide a consistent experience across all channels.

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