Current Affairs Global - 15 May 2013

1. Nawaz Sharif's Pakistan Muslim League Nawaz (PML-N) has emerged the single largest party after winning 122 seats of total 272 seats in Pakistan's general elections held this month. The Pakistan People's Party and Imran Khan's Pakistan Tehrik-e-Insaf - won 31 and 26 seats respectively. Nawaz Sharif is all set to become Pakistan-s next Prime Minister.

2. The eurozone's economy was contracted by 0.2% during the first quarter of 2013 which is the sixth consecutive contraction in quarterly GDP numbers. With this the entire zone enters into its longest recession ever. In 2008-09 its economy was contracted for 5 consecutive quarters.

3. Euro zone-s second largest economy France-s GDP was contracted by 0.2% in the first quarter of current year compared to 0.2% contraction in the previous quarter (last quarter of 2012) as well. With this, the French economy enters into recession which is defined as contraction in two consecutive quarters.

4. Global credit rating major Fitch has upgraded Greece-s credit rating by one notch to -B- with stable outlook from earlier rating of -CCC- as it progresses well to rebalance its economy and bring total deficit under control.

5. Matt Prior was named the England cricketer-of-the-year for 2012-13 for his remarkable performance with bat and gloves throughout the year. Prior was presented with his award at Lord's yesterday.

6. England footballer Rio Ferdinand has announced his retirement from International Soccer today, saying he wants to concentrate on his club duties at Manchester United. The 34-year-old centre-half won 81 caps in an international career and participated in three World Cups.