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Daily G.K. - Top Stories

24 May 2019


Reliance Capital Exits Mutual Fund

  •  Anil Ambani-controlled Reliance Capital is all set to exit the mutual fund business by selling its entire stake in Reliance Nippon Life Asset Management Ltd.(RNAM) to its foreign partner Nippon Life Insurance.
  • Reliance Capital Ltd. signed binding definitive agreements with Nippon Life Insurance of Japan to exit its stake in Reliance Nippon Life Asset Management Ltd.
  • Both Reliance Capital and Nippon Life currently hold 42.88% in the asset management company with the balance held by public shareholders.

Continental Warehousing Acquires Stake in Kribhco Infra

  •  Continental Warehousing Corporation (Nhava Seva) Ltd., (CWCNSL), a 90%-owned subsidiary of Hindustan Infralog Pvt. Ltd. (HIPL), acquired 76% stake in Kribhco Infrastructure Ltd.
  • (KRIL), an integrated multi-modal logistics operator for an unspecified amount.
  • Hindustan Infralog is a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF).
  • KRIL operates three major inland container depots/private freight terminals in Haryana, Uttar Pradesh and Gujarat.
  • It has container train operations with a pan-India outreach. KRIL has a presence in the National Capital Region, which is India's largest import-export market with a population of over 46 million, including a terminal located on a notified double stack route.
  • The acquisition of KRIL will augment DP World's existing business in terms of the business model and geographic footprint, offering an integrated portfolio to the entire logistics value chain.

Adani to Set Up Container Terminal in Myanmar

  •  Adani Ports and Special Economic Zone (APSEZ) will set up its container terminal in Myanmar, first outside India, at an estimated cost of $290 million (over Rs. 2,000 crore).
  • The company signed an agreement to develop and operate a container terminal at Yangon Port in Myanmar.
  • Construction for Phase-1 of the project will commence in June and will be completed by June 2021. It is a two-phase project.
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Mary Kom Defeats Nikhat Zareen

  •  Six-time world champion M.C. Mary Kom staved off a strong challenge defeated Asian championships bronze medallist Nikhat Zareen in the semifinals and reach the women's 51kg title clash in the India Open international boxing tournament.
  • Mary will take on compatriot Vanlal Duati in the final.
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First Assembly Election Win for BJP in Arunachal Pradesh

  •  After two stints in power, the Bharatiya Janata Party led by Chief Minister Pema Khandu won its first Assembly election in Arunachal Pradesh.
  • The BJP had approached the election with an advantage, three of its candidates won unopposed before the polling was held on April 11.
  • The BJP won 11 seats in the 60-member Assembly in 2014. Mr. Khandu has been heading a BJP government since December 31, 2016.
  • But the BJP had taken over from the regional People's Party of Arunachal after almost two years of political instability that led to the fall of Nabam Tuki's elected Congress government.

BJP Sweeps Most of India

  •  Riding on a massive saffron surge sweeping through most parts of India, the BJP-led NDA government looks set to become the only non-Congress government to return to power in the Indian political history.
  • After Jawaharlal Nehru and Indira Gandhi, Narendra Modi is also the third Prime Minister of India who has been able to retain power for a second term with full majority in Lok Sabha.
  • Repeating its near improbable feat of landslide victory in North and West India with a vote share of nearly 50 per cent, the NDA has taken a massive lead over the Congress-led UPA.
  • The alliance has crossed the majority mark of 272 and is moving towards 350 seats mark out of the total 542 Lok Sabha seats. 
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Pakistan Successfully Test-fires Ballistic Missile

  •  Pakistan successfully test-fired surface-to-surface ballistic missile Shaheen-II, capable of hitting targets as far as 1,500 kilometers away, bringing major Indian cities under its range.
  • As per Pakistan army, the launch was aimed at ensuring operational readiness of the Army Strategic Forces Command.
  • Shaheen-II is capable of carrying both conventional and nuclear warheads upto a range of 1,500 kilometers. Shaheen-II is a highly capable missile which fully meets Pakistan's strategic needs towards maintenance of desired deterrence stability in the region. 
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Commonwealth Day

  •  Commonwealth Day, replacing the former Empire Day, is the annual celebration of the Commonwealth of Nations, often held on the second Monday in March.
  • It is marked by an Anglican service in Westminster Abbey, normally attended by Queen Elizabeth II as Head of the Commonwealth along with the Commonwealth Secretary-General and Commonwealth High Commissioners in London.
  • The Queen delivers an address to the Commonwealth, which is broadcast throughout the world. 
  • Commonwealth Day is a public holiday in some parts of the Commonwealth, but not presently in Britain.
  • After the death of Queen Victoria on 22 January 1901, her birthday, 24 May, was celebrated from 24 May 1902 as Empire Day, though not officially recognised as an annual event until 1916.
  • In 1958, Harold Macmillan announced in Parliament the renaming of Empire Day as Commonwealth Day. 
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NHA to Collaborate with Cancer Grid

  •  In the first such move to bring in uniform standards of patient care to battle cancer, the National Health Authority (NHA) and National Cancer Grid (NCG) signed an MoU under the Ayushman Bharat- Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
  • The main objective of this collaboration includes developing uniform standards of patient care for prevention, diagnosis and treatment of cancer; providing specialised training and education in oncology, and facilitating collaborative basic, translational and clinical research in cancer.
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