Current affairs 28 April 2024

Microsoft unveiled Phi-3-mini, its smallest AI model.

• Microsoft has described the Phi-3 as a family of open AI models that are the most capable and cost-effective small language models (SLMs) available.
• Language models (LMs) are AI systems trained on vast text data to understand and generate human-like text.
• SLMs (Small Language Models) are lighter, more efficient than LLMs (Large Language Models), requiring less computational power.

Vizhinjam Port gets nod to run India's first transshipment operations.

• Adani Group's Vizhinjam Port in Kerala was approved as India's premiere transshipment port by the shipping ministry.
• The project started in 2015, aims to tap into India's transshipment cargo, which is currently handled by foreign ports like Colombo.
• Approximately 75 percent of India’s transshipment cargo is currently processed at ports overseas.
• Adani Ports & SEZ/CEO: Karan Adani

Centre grants AEO status to gem and jewellery sector.

• The Centre has accorded Authorised Economic Operator status to the gem and jewellery sector.
• The AEO status, under WCO's SAFE Framework, aims to enhance supply chain security and facilitate trade.
• The AEO programme was introduced as a pilot project in 2011 by the Customs department.
• The Gem & Jewellery Export Promotion Council (GJEPC) is the apex body of the sector.

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Colonel Jangvir Lamba completed 38th Legendary Marathon at Sahara.

• At 52, Colonel Jangvir Lamba, a serving Indian Army Officer from Jaipur, completes the 38th Marathon Des Sables in the Moroccan Sahara, ranked as the world's toughest foot race.
• Lamba's journey spanned 253.5 kilometers across harsh desert conditions, finishing in 67 hours and 7 minutes amid temperatures reaching 50 degrees Celsius.
• Col Lamba has also been a professional body builder.

India, Russia awarded management of Sri Lanka's Hambantota airport.

• The Sri Lanka awarded a 30-year contract to Shaurya Aeronautics Ltd of India and Airports of Regions Company of Russia for the management of Hambantota.
• The USD 209 million airports, once labeled the world's emptiest, seeks revival after consecutive losses since 2016.
• The selection follows Sri Lanka's call for Expression of Interest, aiming to alleviate financial strain from Chinese loans.