NATIONAL NEWS
Indian Navy-Vietnam Peoples’ Navy Bilateral Exercise (IN – VPN BILAT EX) concludes
The Indian Navy undertook the second edition of the bilateral maritime exercise between the Indian Navy and Vietnam Peoples’ Navy, (IN – VPN BILAT EX) at/ off Cam Ranh Bay, Vietnam. Conduct of the bilateral exercise on an annual basis would give a further fillip to the existing strong bilateral relation between the two countries.
- The Indian Navy-Vietnam Peoples’ Navy Bilateral Exercise is a significant step in further strengthening mutual confidence and inter-operability as well as sharing best practices between the Indian and the Vietnam Peoples’ Navies.
- Extra info.:
Vietnam Capital: Hanoi
Currency: Vietnamese dong
INTERNATIONAL NEWS
Global IT spending to touch $3.79 tn in 2019: Gartner
Global IT spending is projected to total $3.79 trillion in 2019, an increase of 1.1 per cent from 2018, the latest forecast by Gartner Inc. said recently. The data centre systems segment will experience the largest decline in 2019 with a decrease of 2.8 per cent primarily due to expected lower average selling prices (ASPs) in the server market driven by adjustments in the pattern of expected component costs.
- In 2019, the market is forecast to reach $427 billion, up 7.1 per cent from $399 billion in 2018.
- Extra info.:
Gartner Headquarters: Stamford, Connecticut, United States
Keshav Raghavan, PIO-led team's CubeSat to be launched by NASA
A team led by an Indian American student has been chosen by NASA to have their CubeSat a mini research satellite to detect cosmic rays flown into space on future missions of the US space agency.
- The researchers from the Yale Undergraduate Aerospace Association (YUAA), led by 21-year-old Keshav Raghavan, are among the 16 teams across the country whose CubeSats will be flown into space on missions planned to launch in 2020, 2021 and 2022.
NASA Chooses SpaceX to Launch Asteroid-Walloping Mission
SpaceX will fly its Double Asteroid Redirection Test (DART) planetary-defense mission. The total launch cost for NASA will be about $69 million. The National Aeronautics and Space Administration is an independent agency of the United States Federal Government responsible for the civilian space program, as well as aeronautics and aerospace research.
- Extra info.:
NASA Headquarters: Washington, D.C., United States
Saudi Arabia to host G20 summit in 2020
Saudi Arabia announced it will host the G20 summit in November next year in the capital Riyadh. The first G20 meeting in the Arab world will be held in November 2020, according to the final communique of the G20 summit last year in Buenos Aires, Argentina, which confirmed that the summit will be held in Japan in 2019, and in Saudi Arabia in 2020.
- G20 world leaders met for the first time in 2008 with focus on rescuing the global economy from the worst financial crisis in more than 70 years.
Nepal's first ever satellite launched into space
Nepal's first satellite has been launched into space, which will soon start rotating around the Earths orbit to collect information about the country's topography and Earths magnetic field.
- The NepaliSat-1 was launched from the Virginia-based station of the National Aeronautics and Space Administration in the US, according to authorities at the Nepal Academy of Science and Technology (NAST).
BANKING & FINANCE
Bandhan Bank gets CCI approval to acquire Gruh Finance
Kolkata-based Bandhan Bank said it has received approval of the Competition Commission of India (CCI) for the proposed acquisition of Gruh Finance. Gruh Finance, the affordable housing finance arm of HDFC Ltd, was taken over in January by Bandhan Bank in a share-swap deal.
- As part of the deal, Bandhan Bank has to transfer 14.9 per cent stake to HDFC for merging Gruh with itself.
BUSINESS & ECONOMY
Mukesh Ambani among TIME's 100 most influential people
Reliance Industries (RIL) Chairman Mukesh Ambani has featured in the TIME magazine's list of 100 most influential people. Arundhati Katju and Menaka Guruswamy, who led the legal battle for LGBTQ rights in India, also featured in the list. The "Time 100 Most Influential People 2019" named the world's most influential pioneers, leaders, titans, artists and icons of the year.
- The list includes US President Donald Trump, Pope Francis, Chinese President Xi Jinping, Pakistan Prime Minister Imran Khan, Facebook founder Mark Zuckerberg and Indian-American comedian Hasan Minhaj.
Cholamandalam MS General Insurance gets ISO 31000:2018 certification
Cholamandalam MS General Insurance Company Limited has been certified with ISO 31000. ISO 31000:2018 is an international risk management standard. The standard provides guidelines, principles, framework, and a process for managing risk. It can be used by any organization regardless of its size, activity or sector.
- The Company has put in place a comprehensive risk management system to promote an innovative culture with the proper understanding of risks, to add sustainability to all the activities of the organization and to ensure adequate profitable growth which itself minimises enterprise risks. The Certificate is valid for a period of 3 years from April 07, 2019, to April 06, 2022.
- Extra info.:
Cholamandalam MS General Insurance Company Headquarters: Chennai
Bank of Maharashtra and M1Xchange join hands for MSME bill discounting
Bank of Maharashtra (BoM) has partnered with M1Xchange Trade Receivables Discounting System (TReDS) platform for MSME bill discounting. TReDS is a digital platform to support micro, small and medium enterprises (MSMEs) to get their bills financed at a competitive rate through an auction where multiple registered financiers can participate.
- The main purpose of TReDS platform is to facilitate smooth flow of liquidity in the system and make finance available at a competitive rate.
- Extra info.:
Bank of Maharashtra Headquarters: Pune
CEO: A. S. Rajeev
ETMONEY becomes India’s first comprehensive financial services app to integrate with Unified Payment Interface(UPI)
India’s largest app for financial services, ETMONEY announced that it has integrated unified payment interface (UPI) as a payment method on its platform as it looks to double its monthly user base by the end of the year.
- The integration of UPI will simplify the mutual fund payment experience for millions of ETMONEY users as the company continues its journey to simplify the financial lives of new age Indians.
Titan 4th fastest growing global luxury firm: Report
Watches and jewellery maker Titan Company is the fourth fastest growing luxury company in the world with a compound annual growth rate (CAGR) of 19.7 per cent during the financial years 2015-2017, a Deloitte report said recently. Titan is a joint venture between the Tata Group and state-run Tamil Nadu Industrial Development Corporation (TIDCO).
- The company ranks 27th among the top 100 global luxury companies. The list prepared by Deloitte includes four other companies in the top 100 with Kalyan Jewellers in the 35th position, follwed by PC Jeweller (40), Joyalukkas India Pvt Ltd (47) and Tribhovandas Bhimji Zaveri (87).
RBL Bank's net profit up 39 pc to Rs 247 crore in Q4 FY19
RBL Bank Ltd said that strong growth in net interest income during the quarter ending March 2019 boosted its net profit to Rs 247.2 crore, up 39 per cent from Rs 178.1 crore in the year-on period.
- The net interest income, the difference between interest earned and interest expended, jumped 48 per cent to Rs 738.7 crore compared to Rs 500.5 crore in the fourth quarter of 2017-18.
APPOINTMENTS
In a first, US appoints Indian to geospatial advisory committee
India’s growing might in earth observation, remote sensing, mapping, and location technologies has got a shot in the arm, with the US department of interior appointing an Indian to its prestigious National Geospatial Advisory Committee (NGAC).
- Delhi-based Sanjay Kumar, CEO of Geospatial Media and Communications and Secretary General of World Geospatial Industry Council, is the first Indian to be inducted to NGAC.
- The US Department of Interior also inducted 11 other individuals under the stewardship of Keith Masback, who currently serves on the board of directors of NGAC and is the former CEO of United States Geospatial Intelligence Foundation.
EC appoints Special Observer for West Bengal
The Election Commission of India (ECI) has appointed Bihar's former Chief Electoral Officer (CEO) Ajay V. Nayak as a special observer for West Bengal. He will oversee the last five phases of elections and report to the Commission on a daily basis.
- The Commission has earlier appointed Vivek Dube as the special police observer for the state. He has been looking after the deployment of central and state forces.
IMPORTANT DAYS
World Haemophilia Day
Every April 17 World Haemophilia Day is recognised worldwide to increase awareness of haemophilia and other inherited bleeding disorders. This is a critical effort since with increased awareness comes better diagnosis and access to care for the millions who remain without treatment.
- World Haemophilia Day was started in 1989 by the World Federation of Hemophilia (WFH). The theme of this year is "Reaching out - connect to your community".
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