10 May 2019 - Daily Current Affairs

1. Amul to sponsor Afghanistan in 2019 World Cup

Indian giant ‘Amul’ has been announced as the principal sponsor of the Afghanistan cricket team for the 2019 World Cup in England and Wales (from 30^th May to 14 July 2019).
The logo of brand Amul will appear on the leading arm of the Afghanistan team playing jerseys as well as on the training kits throughout the showpiece event.
The first time, Afghanistan Cricket team will play in the World Cup as a full member.
Anand Milk Union Limited (Amul) is an Indian dairy company (formed in 1948), based at Anand in the state of Gujarat.

Note:

The ICC Cricket World Cup 2019 is the 12th edition of the Cricket World Cup, scheduled to be hosted by England and Wales.

Source: Khaleej Times

International Affairs

2. Australian flight Carrier Qantas operates the 'world's first' zero waste flight

The Australian flight carrier ‘Qantas’ has operated the world’s first zero-waste commercial flight from Sydney to Adelaide.
‘Qantas’ disposed of all waste through compost, reuse or recycle.
The Australian airline Qantas has planned to eliminate 100 million single-use plastics by the end of 2020 and reduce 75% of airline’s waste by the end of 2021.

Obituaries

3. Tamil novelist Thoppil Mohamed Meeran passes away

Noted novelist and Sahitya Akademi awardee Thoppil Mohamed Meeran (74-years) passed away at his residence at Veerabahu Nagar in Pettai. TIRUNELVELI,
Mohamed Meeran authored the novels Oru Kadalora Graamaththin Kathai, Thuraimugam, Koonan Thoppu, Saaivu Naarkkaali and Anju Vannam Theru between 1988 and 2011.
He received 8 awards including the Sahitya Akademi Award (1997) and Tamil Nadu Kalai Ilakkiya Perumantram Award (1992).

Source: The Hindu

4. Renowned economist Baidyanath Mishra passes away

Renowned economist Baidyanath Mishra (99-years) passed away due to old-age related problems.
Mishra had started his career as a lecturer in Ravenshaw University in Cuttack in 1949.
Baidyanath Mishra was vice-chancellor of Odisha University of Agriculture and Technology (from 1981 to 1985) and chairman of the State Planning Board (1985 to 1990).
He was the chairman of the State Planning Board from 1985 to 1990.

Source: Business Standard

5. Renowned Bengali actor Mrinal Mukherjee passes away

The Veteran film and TV actor of Bengali Cinema, Mrinal Mukherjee (74-years) passed away due to cancer and liver problems.
Mukherjee had worked for over five decades in the Bengali film industry as well as Bengali TV serials and theatres.

Source: The Economic Times

National Affairs

6. Mukesh Ambani's Reliance Industries buys Global Toy Retailer Hamleys

Reliance Industries has acquired British toy retailer Hamleys, the energy-to-telecoms conglomerate from Hong Kong-listed C Banner International Holdings.
Reliance Industries runs the world's biggest single-location crude oil refinery in western India.
Reliance Industries has been gradually transforming itself into a consumer-facing behemoth through its retail and telecoms ventures.
The toy seller runs 167 stores across 18 countries, the majority of which are in India.
Hamleys (founded in 1760) resonates with a sense of nostalgia for adults and children alike, with its flagship Regent Street store in Central London recognised around the world.

Note:

Reliance Industries has been firming up plans for a major retail onslaught to combine its traditional outlets with an online foray aimed at taking on Amazon and Walmart in India.
It is already the country's biggest bricks-and-mortar retailer in terms of revenue and number of stores.

Source: ND TV

7. India, China agree to expeditiously resolve market access issues

India and China signed a protocol for the export of Indian chilli meal to China.
This is the fourth protocol signed between the two nations over the past year allowing the export of farm commodities from India.
India and China also agreed to resolve market access issues expeditiously in order to achieve the vision of the leaders of both countries by promoting a more balanced trade.

Source: Business Line

8. Chhattisgarh cops deploy first ever anti-Naxal women's commando unit

The Chhattisgarh police for the first time has inducted women commandos in the District Reserve Guard in its frontline anti-Naxal force.
These women commandos were part of the security forces' "short action teams" that eliminated three Naxal "commanders" in the past one month.
The specially- raised squad, christened 'Danteshwari Ladake', or fighters of Goddess Danteshwari, was inducted in the state's Naxal-hit Dantewada district.
Of the 30 recruits, 10 are surrendered women Naxals, while 10 others are assistant constables who were part of the erstwhile Salwa Judum (anti-Naxal militia) movement.

Source: Business Standard

Banking and Finance

9. TCS once again becomes India's most valued firm; surpasses RIL in m-cap

India's IT conglomerate Tata Consultancy Services (TCS) has become India’s most valued firm in terms of market capitalization (market-cap) by displacing Reliance Industries Limited (RIL) to number two position.
TCS (market-cap of Rs 8.13 lakh crore) followed by RIL (Rs 7.95 lakh crore), HDFC Bank (Rs 6,24,362.11 crore), Hindustan Unilever (Rs 3,67,880.69 crore) and ITC (Rs 3,67,513.78 crore).
The m-cap figure of companies changes daily with stock price movement.

Note:

Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) service and consulting company headquartered in Mumbai, Maharashtra, India.
It is a subsidiary of Tata Group and operates in 46 countries.

Source: Business Standard

10. Max Life Insurance to mark 6th of every month as Protection Day

According to Max Life Insurance Co Ltd, It will dedicate the 6th day of every calendar month as 'Protection Day'.
The day aims to increase awareness around the concept of financial protection.
As a part of this initiative, a wide range of initiatives will be rolled out across Max Life's network.
The Company will also drive a "Super Customer Week", where customers across the board will be educated about various aspects of financial protection.

Source: Business Standard

11. India ratings downgrade Yes Bank with a negative outlookxcz

India Ratings & Research (Ind-Ra) downgraded Yes Bank’s long-term issuer rating to ‘IND AA-’ from ‘IND AA+’ with a negative outlook citing “quick credit migration in the bank’s certain group exposures”.
It estimates that the private lender will need to raise equity of Rs 7,500-8,000 crore in the next two fiscal years.
The negative outlook reflects the downside risks to the agency’s estimates of profitability and capital buffers that could emanate from substantial delays in the resolution of certain stressed assets.
Yes Bank had also reported its maiden loss of over Rs 1,506 crore in the March 2019 quarter, driven by a near 10-fold spike in provisions.

Source: Economic Times

Appointment

12. Justice PR Ramachandra Menon sworn in as chief justice of the Chhattisgarh HC

Justice PR Nair Ramachandra Menon was sworn in as the new chief justice of the Chhattisgarh High Court(13th).
He was administered the oath by Chhattisgarh Governor Anandiben Patel at Raj Bhavan, Raipur in Chhattisgarh.
Currently, he is serving as a Judge of the Kerala High Court.

Note:

The Chhattisgarh High Court was established on 1 November 2000 with the creation of the new state of Chhattisgarh upon the reorganisation of the state of Madhya Pradesh.

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