Current Affairs Global - 7 November 2013

1. Bill de Blasio was elected New York City's first Democratic mayor in two decades on Tuesday. This ended billionaire Michael Bloomberg's record 12 years tenure as New York Mayor. Bill will be New York-s first Democratic mayor.

2. Central Election Commission (CEC) of Tajikistan declared yesterday that Imomali Rakhmon was re-elected as the President of Tajikistan. He is from People's Democratic Party of Tajikistan (PDPT) and has been re-elected for term of 7 years as per rule. A constitutional amendment passed in 2003 allows President Imomali Rakhmon to run for a third term which will help him to hold office until 2020.

3. Scientists discovered a black hole in a collection of stars in the constellation Ophiuchus, which is about 22000 light years from Earth. The globular cluster in which black hole was spotted is known as M62.

4. Russia launched the Olympic torch into space today, as part of the flame-s journey ahead of the Sochi Winter Olympics. The Sochi Winter Olympics are due to begin on February 7 next year. The torch will be delivered to the International Space Station (ISS) where two astronauts are due to take the torch on a spacewalk for the first time in Olympic history.

5. Shares in the micro-blogging site Twitter opened at USD 45.10 each in the first minutes of trading on the New York Stock Exchange (NYSE). That is a 73% jump from the initial asking price of $26 a share, and it means the company is now valued at a little over USD 31 billion. It is the biggest technology listing since Facebook in 2012.

6. The European Central Bank (ECB) has cut its benchmark interest rate by 25 bps to a record low of 0.25% from 0.5%. ECB president Mario Draghi supported the decision considering low inflation and weak economic data across the euro zone. Inflation in the eurozone dropped to 0.7% in October - its lowest level since January 2010, giving room for rate cut.

7. The US economy grew at an annual pace of 2.8% in the third quarter (July to September) of the current year. The growth rate was faster than expected, and was better than 2.5% growth witnessed in the previous quarter. The pace of growth in consumer spending, which accounts for about two-thirds of US economic activity, dropped in the third quarter from the previous quarter. Consumer spending grew at annual pace of 1.5%, down from 1.7% in the previous quarter which is still a concern for the world-s largest economy.