10 May 2018 - Daily Current Affairs


10 May 2018 - Daily Current Affairs

10 May 2018 - Daily Current Affairs

Walmart buys Flipkart in World's largest E-Commerce deal

  • US retail giant Walmart has confirmed that it will buy 77% controlling stake in India's largest e-commerce startup ‘Flipkart’ for USD 16 billion.
  • The remaining 23% stake in Flipkart will be held by co-founder and group chief executive officer Binny Bansal, Chinese Internet conglomerate Tencent, investment firm Tiger Global and software firm Microsoft Corp.
  • It will be the country’s largest acquisition and the world’s biggest purchase of an e-commerce company.
  • This acquisition will be the country’s largest acquisition and the world’s biggest purchase of an e-commerce company at a reported amount of USD 20.8 billion (Vodafone-Idea merger valued USD 23 billion).
  • Flipkart co-founder Sachin Bansal exits while the other co-founder Binny Bansal remains invested.
Flipkart:
  • In October 2007, Indian electronic commerce company as Flipkart was founded by ‘Sachin Bansal’ and ‘Binny Bansal’ in Bengaluru, India.
  • Flipkart has launched its own product range under the name "DigiFlip" with products including tablets, USB flash drives, and laptop bags.
Walmart:
  • American multinational retail corporation ‘Walmart’ was founded by ‘Sam Walton’ in 1962 and incorporated on October 31, 1969.
  • Walmart operates a chain of hypermarkets, discount department stores, and grocery stores, Headquartered in Bentonville, Arkansas.
  • As of 31st January 2018, Walmart has 11,718 stores and clubs in 28 countries, operating under 59 different names.

NITI Aayog to announce top 30 innovations of Atal Tinkering Marathon in Delhi

  • NITI Aayog has announced the top 30 innovations of Atal Tinkering Marathon in an effort to identify India's best student innovators in Delhi.
  • The six month long nationwide challenge had six different thematic areas (clean energy, water resources, waste management, healthcare, smart mobility and agri tech).
  • Top 100 were listed based on novelty and prototype functionality from over 650 innovations received.
  • Following this, their innovations were judged by an esteemed panel of judges, including industry and academic experts, to select the top 30 innovations.
  • These have been identified from 20 different states and union territories from across the country.

Haryana to start 31 government colleges for girls

  • Haryana Government has decided to start 31 government colleges for girls from the academic session starting in July 2018.
  • According to state’s Education Minister, Mr. Ram Bilas Sharma, additional charges of these colleges have been given to principals of other colleges.
  • Till the construction of college buildings, these colleges would run in vacant buildings of government schools or other organizations so that girls would not have to travel far places for education.

Suresh Prabhu inaugurates 6th US-India aviation summit

  • The Union Minister for Civil Aviation, Suresh Prabhu has inaugurated the 6th US-India Aviation Summit in Mumbai.
  • According to Mr. Prabhu, India is now focusing on Cargo policy and looking at the collaboration with the US for the same.
  • The partnership between two nations (US-Indian) shaped in last 10 years after the official MoU was signed and these summits provided actual support to materialize this partnership.
Note:
  • The biennial Summit is jointly organized by Ministry of Civil Aviation and US Trade and Development Agency (USTDA).
  • The summit is a technical, policy and commercial forum by the Indian Ministry of Civil Aviation and the US Trade and Development Agency.

India & Panama sign two agreements

  • India and Panama have signed two agreements on the exemption of Visas for holders of Diplomatic & Official Passports and in the field of Agriculture.
  • These agreements were signed in the presence of M Venkaiah Naidu (Vice President-India) and Juan Carlos Varela Rodrigues (President of Panama) in Panama City.
  • These ties are based on our common values and a shared commitment to democracy, pluralism, multiculturalism, and the rule of law.
  • Two centers for Biodiversity and Innovation will be set up by India in Panama worth USD 10 mn. and USD 15 mn. each.

International Affairs

Former Malaysian PM Mahathir Mohamad scores historic victory in country's general elections

  • Former Malaysian Prime Minister Mahathir Mohamad (92-year) has scored a historic victory in the country's general elections.
  • Mahathir's coalition has officially won 121 seats (total 222 seats-need 112 seats) in the country’s Parliament.
  • Mahathir Mohamad defeated the governing Ba Parliament risan Nasional (BN) coalition (79-seats), which has been in power for more than 60 years.
  • BN coalition only managed 79 seats, a far cry from the 133 it won in the 2013 election.
  • When he takes power, Mahathir will be the oldest prime minister in the world.

Beijing to hold World Robot Conference

  • The 2018 World Robot Conference will be held in Beijing, China (from 15- 19th August 2018).
  • The event will see over 12,000 competing teams and 50,000 participants from more than 10 countries and regions.
  • A robot competition will be held during the conference where participants will compete in five categories.
  • According to the organizer, the conference will greatly stimulate passion and innovation in the robot industry as well as help with research and development.

Honors & Awards

Nisha Bhalla Conferred With 'WEF 2018' Award

  • Nisha Bhalla (46-year) holistic coach and consultant from Mumbai was felicitated at the Annual Women Economic Forum (WEF) 2018 Awards.
  • Nisha was presented the 'Excellent Woman of Excellence' award for her spiritual service at the event.
  • WEF is the largest global gathering of women entrepreneurs and leaders worldwide.
  • This annual event recognizes the most successful women across all fields, with guests like Nobel laureate Ouided Bouchamaoui.

Science & Defence

China launched Gaofen-5 to monitor air pollution

  • China has successfully launched a hyper-spectral imaging satellite 'Gaofen-5' for comprehensive observation of the atmosphere, including air pollution from the Taiyuan Satellite Launch Center.
  • It was the 274th flight mission by a Long March carrier rocket.
  • The Gaofen-5 satellite was launched off the back of a Long March 4C rocket.
  • Gaofen-5 is the first China-developed satellite that can monitor air pollution.
  • It can dynamically reflect the state of air pollution in China through the monitoring of air pollutants, greenhouse gases, and aerosols.
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