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Daily Current Affairs - 27th June 2015, Saturday

1. U.S legalizes gay marriages in all 50 states of the country
(i) The US Supreme court, on Friday, in an historic ruling legalised same sex marriages, holding that gay people can marry in all the 50 states of US.
(ii) The court ruled that US constitution's guarantees of due process and equal protection under the law means that states cannot ban same sex marriages.
(iii) This move has come as a great triumph for the American Gay Rights Movement. 
2. India tops the index on baseline profitability 
(i) A ranking based on an index for baseline profitability (BPI), which indicates the attractiveness of various countries of the world for foreign investors, has placed India first, among 110 other countries.
(ii) The ranking is based on an index for baseline profitability (BPI) which assumes that three factors affect the ultimate success of a foreign investment i.e. how much the value of an asset grows, the preservation of that value while the asset is owned and the ease of repatriation of proceeds from selling the asset. 
(iii) In the year 2014, Hong kong was ranked first as per the BPI.
3. Minimum export price for onion steeply hiked by the Govt. 
(i) The Government of India has steeply hiked the minimum export price (MEP) for onion by previous 175 US dollars per tonne to present 425 US dollars per tonne.
(ii)  The Government took this step to ensure adequate domestic supply and contain price rise.
(iii) Directorate General of Foreign Trade, in a notification informed that the new MEP, rates below which no exports are allowed will be applicable with immediate effect. 
4.   Italy initiated international arbitration against India 
(i) The Italian Government on Friday said that it had initiated International arbitration proceedings in the case of two Italian marines facing trial in India, for the killing of two fishermen in 2012.
(ii) This unilateral move comes after the failure of direct negotiations between the Indian Government and Italian Government, which have resulted in strained diplomatic relations between the two countries.
(iii) The point of debate contention being, India insists that the fate of the two marines be resolved by its courts because its citizens were shot in its territorial waters and the Italian Government insists that since the killing occurred in International waters off Southern India, it should be dealt with under the UN Convention on the Law of the Sea. 
5. Myanmar MP's voted to retain army's veto powers over constitutional change 
(i) Dealing a heavy blow to the Presidentship hopes of Aung San Suu Kyi, majority of members of Myanmar parliament have voted to retain Army's veto powers over constitutional change. 
(ii) Though the bill received a majority of MP's votes, not the 75 per cent needed to pass.
(iii) Ms. Suu Kyi's, National League of Democracy is expected to see big gains against the ruling in party in the elections due in autumn. 
6. Indigenously designed LCH completes hot weather flight trails 
(i) The Hindustan Aeronautics Limited (HAL) indigenously designed and developed Light Combat Helicopter (LCH) successfully completed the hot weather trails on Friday.
(ii) The combat helicopter had completed cold weather flight testing in February 2015.
(iii) The helicopter is designed to carry out dedicated combat roles such as Air Defence, anti-tank, scout and support combat search/rescue missions. 
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