Current Affairs Global - 13 October 2014

1. French economist Jean Tirole has been awarded with the 2014 Nobel Prize in economics for his analysis on market power and regulation.Tirole's work has helped regulators and competition authorities to get a whole new set of tools to regulate industries. In his research paper, he has clarified how to understand and regulate industries with a few powerful firms.

2. China-s exports jumped by 15.3% in September compared to same month last year to USD 213.7 billion, which is also the fastest growth in last 19 months. Imports also jumped by 7% in the same month to USD 182.7 billion.

Trade surplus in September jumped more than 100% in September compared to same month last year to USD 31 billion, compared with USD 49.8 billion seen in previous month of August. This growth increases optimism about global economic recovery.

3. Britain's Lewis Hamilton won the Russian Grand Prix held yesterday which is also his ninth win of the year. This was also his fourth consecutive win which also helps him to extend his championship lead. Hamilton's team-mate Nico Rosberg secured 2nd place in the race.

With this win, Hamilton won the most number of formula 1 race by a Briton at 31, thus breaking Nigel Mansell's record.

4. World number three Roger Federer won his maiden ATP Shanghai Masters trophy after defeating FrenchmanGilles Simon by 7-6, 7-6 in the final match.