Current Affairs Global - 2 October 2014

1. Software giant Microsoft Corp. has officially announced that new 'Windows 10' Operating System which will replace the current operating system -Windows 8- this week. With this, Microsoft is restoring some of the more traditional ways of doing things and promises that Windows 10 will be familiar for users who are using older version of Windows operating systems.

2. Google closed its old social networking site Orkut permanently on 30th September 2014 as Google announced the decision to shut down Orkut in June this year. Orkut started in 2004 was named after its creator, Orkut Buyukkokten.

Old users of Orkut will be able to take backup of their pictures and posts till September 2016 and users can export their profile data, community posts and photos using Google Takeout. But no one will be able to create new IDs on Orkut account.

This decision was taken as Orkut could not compete with competitor social networking site Facebook and Google also launched its new social networking site Google Plus.

3. The European Central Bank (ECB) has kept its benchmark interest rate unchanged at record low of 0.05% and provided more details about its asset purchase programme.

ECB announced today that it would start buying covered bonds from this month and would continue to do so for two years. This decision was expected from the central bank considering deflation risk due to 5-year low inflation across the euro zone.