Daily Current Affairs: 01 May 2014

1) International Labour Day observed: May 1 was celebrated as International Labour Day to celebrate the achievements of workers. May day symbolizes the struggle of the international labour movement. Labour Day has its origins in the labour union movement, specifically the eight-hour day movement, which advocated eight hours for work, eight hours for recreation, and eight hours for rest.

2) IIT Guwahati makes it to world's top 100 universities: The Indian Institute of Technology, Guwahati, has shown the way. The young IIT from Assam has brought cheer to Indian academic institutions by occupying a place among the top 100 world universities — under 50 years of age — published by London-based Times Higher Education (THE) magazine. IIT Guwahati has been placed 87th in the ranking that analysed 800 new-breed universities from 29 countries, including the US and the UK.

3) Manoj Vaish quits as MD and CEO of MCX: Manoj Vaish has resigned as the managing director and chief executive officer of Multi Commodity Exchange of India Ltd (MCX) after just three months on the job—the latest departure in an executive exodus that comes at a time when parent Financial Technologies (India) Ltd (FTIL) is under mounting regulatory pressure to pare its stake in the exchange from 26% to 2%. Vaish has resigned on health grounds, MCX said in a statement on Thursday. He will work with the board to ensure a smooth transition, the company said.

4) India slip to 5th rank in ICC's annual list for Test teams: India's dismal performance in the international season gone by pushed them down the ladder in the ICC Test rankings with the team finishing fifth in the annual updated list issued on Thursday. Australia have gone top in both the formats for the first time since December 2008. Australia last held the number-one Test ranking in August 2009, when they were displaced after losing 2-1 to England. India, who were thrashed during trips to South Africa and New Zealand in their most recent Test assignments, have slipped from third to fifth in the table after dropping 10 ratings points.

5)  India regained No.1 rank in T20: India on Thursday climbed up a position and regained its number one ranking in Twenty20 Internationals after the annual update of the ICC Rankings, which was announced in Dubai.

6) Mahatma Gandhi Pravasi Suraksha Yojana scheme launched in UAE: A leading Indian financial and health care service player has tied up with the UAE Exchange to offer Mahatma Gandhi Pravasi Suraksha Yojana Scheme in the Gulf country. The announcement was made in Abu Dhabi yesterday in the presence of Indian Ambassador to the UAE, T P Seetharam, and other senior officials from the Indian Embassy in Abu Dhabi.

7) .london web domain name goes on sale for first time: The new .london internet domain name has gone on sale for the first time, offering individuals and businesses the city-specific address. More than 50,000 people have expressed an interest in using the name as an alternative to .com or .co.uk.

8) Woman techie killed, 14 injured in twin blasts on train in Chennai: A woman was killed and at least 14 people were injured in two "low-intensity" explosions that took place on Guwahati-Bangalore Express at Chennai Central railway station on Thursday. The Tamil Nadu Police detained a person for questioning. Authorities suspect the blasts were caused by bombs planted on the train, said M Bhupati, spokesperson of Southern Railway. Condemning the blasts, Prime Minister Manmohan Singh said such "barbaric acts" highlight the "desperation and cowardice" of those responsible. He asserted that no efforts would be spared in bringing the perpetrators to justice.