Uganda has one of the largest oil reserves in the Saharan desert, according to the International Monetary Fund. Oil was discovered in Uganda twenty years back. But the production was delayed due to a lack of funds and infrastructure. With the assistance of China, Uganda launched its first oil field in Lake Albert. Extraction is to be done in four phases and the first phase was launched.
The China National Offshore Oil Corporation launched the drilling in the lake along with the Uganda National Oil Company. China is investing 10 billion USD in the project. Along with the project, Uganda is also launching a controversial pipeline. The pipeline will connect the oil fields in Lake Albert to the Tanzanian coast for easy transport.
Under the program, Uganda is planning to produce 230,000 barrels of oil per day.
Chris Hipkins sworn in as New Zealand PM
Chris Hipkins was sworn in as New Zealand's 41st Prime Minister, following the unexpected resignation last week of Jacinda Ardern.
Hipkins promised a back-to-basics approach focusing on the economy and what he described as the "pandemic of inflation."
He will have less than nine months before contesting a tough general election, with opinion polls indicating his Labour Party is trailing its conservative opposition.
New Zealand Governor-General Cindy Kiro officiated the brief swearing in ceremony in front of friends and colleagues after earlier accepting Ardern's resignation.
Bihar Inks MoU with FSI for TOF Field Survey to Promote Agroforestry
To encourage tree plantation on farmland along with crops to help farmers get additional income, Bihar government in association with FSI decided to conduct 'Trees Outside Forest' (TOF) field survey to identify the dominant tree species that are growing outside the recorded forest areas (RFA) in the state.
As per the Forest Survey of India (FSI) India state of Forest Report, 2021, Bihar registered an increase of 3.79 per cent in growing stock in RFA and 0.58 per cent in TOF respectively.
The overall tree cover also increased in the state from 2,003 sq km in 2019 to 2,341 sq km in 2021. The FSI survey was conducted by using remote sensing based forest cover mapping of all patches of more than one hectare within and outside the RFA.
The TOF field survey, for which a Memorandum of Understanding (MoU) was signed with the FSI is expected to start from April.
"The survey, which will be completed in two months, will cover all 38 districts.
NARCL Acquires First Stressed Account from IDBI Bank-led Lenders
The National Asset Reconstruction Company Ltd (NARCL) acquired its first stressed asset, Jaypee Infratech, from lenders. It acquired their exposure aggregating about Rs. 9,200 crore at a 55 per cent haircut.
IDBI Bank, the lead bank to the consortium of lenders with an exposure of Rs. 3,750 crore, received Rs. 253 crore (15 per cent of the Rs. 1,687.50-crore recovery in cash) and Rs. 1,434.5 crore (85 per cent of the recovery) in the form of security receipts.
The other lenders will receive cash and security receipts depending on their exposure to the company. The cash recovery is expected to boost banks bottom line in the fourth quarter.
IndiGrid to Acquire 100% Stake in Khargone Transmission
India Grid Trust (IndiGrid) will acquire a 100 per equity stake in Khargone Transmission at an enterprise value of about Rs. 1,497.5 crore.
The acquisition will be for a cash consideration of an enterprise value not exceeding Rs. 1,497. 5 crore.
IndiGrid signed a share purchase agreement this month (January), for the acquisition of a 100 per cent shareholding and economic interest, in one or more tranches, in Khargone Transmission Ltd from Sterlite Power Transmission Ltd (one of the Sponsor of IndiGrid).
The completion of the acquisition would depend upon receipt of unit holders' consent, regulatory and other relevant approvals as well as completion of contractual obligations, it explained.
The Khargone Transmission was incorporated on November 28, 2015.
The transmission project was awarded by the Ministry of Power for a 35-year period from the scheduled commercial operation date, on a BOOM basis.
Tata Trusts Appoints Siddharth Sharma as CEO, Aparna Uppaluri as COO
Tata Trusts appointed former government official Siddharth Sharma as the Chief Executive Officer (CEO) of the Trusts.
The trusts, chaired by Tata Group patriarch Ratan Tata, also appointed Aparna Uppaluri as the Chief Operating Officer. Both appointments will take effect on April 1, 2023.
Sharma was in government service for two decades, where he handled important assignments in key ministries of the government, and as the financial advisor to the 13th and 14th Presidents of India. Later, he joined the Tata Group where he was heading the newly formed sustainability portfolio.
Aparna Uppaluri was earlier working with the Ford Foundation for 20 years. She served as programme director to oversee different verticals at the Ford Foundation.
Canada to Commercialise World's First Photonic-based quaNtum Computer
Canadian Prime Minister Justin Trudeau announced a new federal investment to build and commercialise the world's first photonic-based, fault-tolerant quantum computer.
As per reports, the investment of 40 million Canadian dollars ($32 million) will enable Xanadu Quantum Technologies Inc., a Toronto-based Canadian quantum computing company, to develop the quantum computer which will have the potential to provide world leading capabilities to help solve complex data problems and could be used in a variety of sectors such as finance, transportation, environmental modelling, and health.
The International Cricket Council Team of the Year recognises 11 outstanding individuals who have impressed one and all – be it with the bat, the ball or their all-round exploits in a calendar year. Indian players who made the cut in the shortest format of the gameare Virat Kohli, Suryakumar Yadav and Hardik Pandya in the men's team and in the woman's team were Smriti Mandhana, Deepti Sharma, Richa Ghosh and Renuka Singh.
Odisha Cabinet Approves Inclusion of 22 Castes in State's List of SEBC
Odisha cabinet cleared the inclusion of 22 castes in the list of Socially and Economically Backward Classes (SEBC).
The Cabinet approved the proposed Amendment of the Odisha State Commission for Backward Classes (OSCBC) Act, 1993 by inserting subsection 3 under Section - 9, enabling the State Government to include such Backward Classes in the State list of SEBCs.
Capital Bans Coal in Pollution Fight
A toxic smog engulfs India's capital every winter, as particles from bonfires of crop stubble and vehicle exhausts hang in the air, but New Delhi enforced a ban on coal burning from this month, in its fight against pollution, that has forced industry to shift to biomass.
The drive has pushed about half the 1,695 units in a cluster of small industries around one of the world's most polluted capitals to use biomass.
The change to biomass, which usually consists of pellets or briquettes of farm residue, promises to slash emissions and spur farmers to sell such residue instead of burning it.
Indian Army to Get Robotic Mules, Jetpack Suits, Tethered Drones
The Ministry of Defence (MoD) sought technical and commercial bids to add to the Army robotic mules, jetpack suits and tethered drones that will look across the Himalayas.
The Army needs 100 robotic mules and has put out a request for proposal (RFP), which is the second step of the tendering process. An RFP was issued for commercial and technical bids. The Army is looking at four-legged robotic mules capable of autonomous movement across various terrain, self-recovery and avoiding obstructions.
Celebrated Architect BV Doshi Dies: "Pole Star in World of Architecture"
Well-known architect and Padma Bhushan recipient Balkrishna Doshi, who worked with legends like Le Corbusier and Louis Kahn, died at 95 at his home.
He worked with Louis Kahn as an associate to build the Indian Institute of Management, Ahmedabad, and many other acclaimed projects.
Gujarat Chief Minister Bhupendra Patel called Doshi the Pole Star in the world of architecture.
Some of Doshi's projects include the Institute of Indology, CEPT University and Kanoria Centre for Arts in Ahmedabad, the Indian Institute of Management in Bangalore, and Aranya Low Cost Housing, a township for low- to middle-income families, in Indore which won the prestigious Aga Khan Award for Architecture in 1995.
Doshi founded his own practice, Vastushilpa, in Ahmedabad in 1956.
In 2018, he received the Pritzker Architecture Prize, considered one of the most prestigious prizes in the field of architecture, becoming the first Indian architect to receive the honour.
He was received the Padma Bhushan, the third-highest civilian honour in India, in 2020.
In 2022, Doshi received the 'Royal Gold Medal' from the Royal Institute of British Architects, which described his work as combining "pioneering modernism with vernacular, informed by a deep appreciation of the traditions of India's architecture, climate, local culture and craft".
India celebrates National Tourism Day on January 25 every year. The main purpose of celebrating National Tourism Day is to promote the tourism sector in India which plays a vital role in the economic growth and development of India.
It is difficult to say when January 25 was officially declared National Tourism Day. Although in 1948, a Tourist Traffic Group was constituted to promote tourism and in 1958, a department was created by the Ministry of Tourism and Communication. It can be deduced that the Government of India started to celebrate National Tourism Day since this time.
National Voters Day
Every year, India celebrates the National Voters Day on January 25 to encourage each and every vote in the country to participate in the electoral process. The idea of marking this day is not very old, tracing its origin to 2011.
The country marked its first-ever National Voters Day in 2011. The idea behind the celebration was to encourage more young voters to take part in the electoral process. The Union government back then, under the leadership of Prime Minister Manmohan Singh, approved a proposal of the law ministry to this end.
The theme for National Voters Day 2023 was 'Nothing Like Voting, I Vote for Sure'.
Himachal Pradesh Statehood Day
Prime Minister NarendraModi greeted people of Himachal Pradesh on the state's formation day.
Hardworking people of the state, full of natural beauty, have also been dedicated to serving the country.
Himachal Pradesh celebrated its 53rd Statehood Day with full enthusiasm across the state on January 25, 2023. It was on this day in 1971 that Himachal Pradesh became the 18th state of India.
Indian-origin FedEx CEO to Get Horatio Alger Award
Rajesh Subramaniam, the Indian-origin President and CEO of FedEx, was named as one of the recipients of the 2023 Horatio Alger Award for embodying "power of the American Dream". The award is given to exceptional business, civic and cultural leaders. He grew up in Thiruvananthapuram and was selected in 2022 as president and CEO of FedEx.
The Goa Chief Minister announced that a new IIT campus will be constructed in South of Goa. The government is currently working on finding a suitable piece of land for the new IIT campus.
The state government had originally designated property in Shel-Melaulim village in Sattari taluka of North Goa district for the construction of the IIT campus; however, the project was later abandoned as a result of violent local protests in 2021.
+91-85588-96644
