Lithuania's President Gitanas Naus�-da Secures Landslide Re-election Victory
In a resounding victory, Lithuanian President Gitanas Naus�-da clinched a second term, triumphing over Prime Minister Ingrida Šimonyt�-. With preliminary results indicating Naus�-da's commanding lead with 74.5% of the votes, his re-election underscores broad support for his moderate conservative stance and unwavering advocacy for Ukraine.
Throughout his tenure, President Naus�-da remained a stalwart advocate for Ukraine, a stance echoed across Lithuania's political spectrum. Amid regional tensions and authoritarian crackdowns in neighbouring Belarus and Russia, Naus�-da's administration has provided refuge to those fleeing oppression, emphasising the importance of safeguarding Lithuania's independence and freedom.
Allamaye Halina New PM of Chad
In a notable development, Allamaye Halina was named as Chad's new Prime Minister, succeeding Succes Masra, who announced his resignation.
As Chad embarks on this new chapter under Mahamat Idriss Deby's presidency and Allamaye Halina's premiership, the nation's stability and development will be closely watched by both domestic and international stakeholders. The challenges facing the new administration, including addressing opposition concerns and navigating complex geopolitical dynamics, will be critical in shaping Chad's future trajectory.
Haiti: Former PM Garry Conille Appointed to Lead Transitional Government
To stabilise Haiti amid ongoing turmoil, the Transitional Presidential Council appointed former Prime Minister Garry Conille to lead the government during the transition period.
The Transitional Council is now mandated to hold elections by February 7, 2026, as per Haiti's Constitution. The council's decision to install Conille as interim Prime Minister came after a 6-1 vote.
GAIL (India) Ltd. Commissions its First Green Hydrogen Plant
GAIL (India) Ltd., the nation's leading natural gas transmission and distribution company, achieved a significant milestone with the commissioning of its first green hydrogen plant. Located in Vijaipur, Madhya Pradesh, this plant marks GAIL's foray into the realm of new and alternative energy sources.
The inauguration ceremony was graced by the presence of Pankaj Jain, Secretary of the Ministry of Petroleum & Natural Gas, signifying the government's support and recognition of this pioneering initiative.
RBI Imposes Penalty on ICICI Bank and YES Bank for Rule Violations
The Reserve Bank of India (RBI) penalised ICICI Bank and YES Bank for violating various regulatory norms. ICICI Bank was fined Rs. 1 crore, while YES Bank was penalised Rs. 91 lakh.
RBI's supervisory inspection found violations by both banks relating to their financial position as on March 31, 2022.
ICICI Bank was penalised for sanctioning term loans to certain entities as substitutes for budgetary resources for specific projects, without conducting proper due diligence to verify the viability and revenue streams of these projects.
YES Bank was penalised for charging customers for not maintaining minimum balances in certain savings accounts that had insufficient or zero balances -- a contravention of RBI guidelines. Additionally, the bank operated internal accounts under customers' names for unauthorised purposes, including parking funds and routing transactions.
Four European Union Banks Request RBI Approval for Third-party Transaction Model
Four leading European banks, which are also key custodians in the local sovereign debt trade, requested approval from the Reserve Bank of India (RBI) for a third-party transaction model. This is to resolve the deadlock between their home authorities and Indian policymakers over audit oversight rights.
As per reports, the heads of these European banks met with top RBI officials last month (April) to seek approval for the proposed third-party model. The banks are seeking RBI's approval as there are no established guidelines for such an arrangement.
The banks in question are Credit Agricole, Societe Generale, Deutsche Bank and BNP Paribas.
Eurozone-based lenders are facing challenges in trading Indian government bonds and derivatives due to the European Securities and Markets Authority (ESMA) decision to de-recognize the Clearing Corp of India (CCIL) in October 2022.
The ESMA took this action after the Reserve Bank of India (RBI) refused to allow audit and inspection rights over the CCIL, which manages the local platform for government bond trading and ensures guaranteed settlement.
Tata AIG Introduces Surety Bonds for Infrastructure Sector
TATA AIG General Insurance, one of India's leading general insurance companies, rolled out Surety Insurance Bonds, with an aim to support the government's ambitious infrastructure development agenda, which has been allocated 3.3% of the GDP in FY 2024.
As infrastructure development is poised to be the growth engine of India's journey to become a USD 5 trillion economy, Surety Insurance Bonds have emerged as a robust alternative to traditional bank guarantees for contractors. By opting for Surety Insurance Bonds, contractors can unlock capital and enhance their bidding capacity, thereby overcoming liquidity and capital constraints. Available across both conditional and unconditional formats, TATA AIG's Surety Insurance Bonds have been designed to facilitate smoother execution of infrastructure projects and commercial contracts across both government and private sectors, catering to diverse project needs.
NASA Launches Satellite PREFIRE to Monitor and Mitigate Climate Change
NASA's pioneering PREFIRE (Polar Radiant Energy in the Far-InfraRed Experiment) mission launched its first CubeSat atop Rocket Lab's Electron rocket from Launch Complex 1 in Māhia, New Zealand. The PREFIRE mission, comprising shoebox-size CubeSats, aims to measure Earth's far-infrared radiation from its coldest and most remote regions, providing critical data to enhance predictions of global climate impacts on Earth's ice, seas, and weather patterns.
This innovative mission fills a crucial gap in understanding of Earth's energy dynamics. By studying how much energy Earth absorbs and emits from polar regions, PREFIRE will improve forecasts of sea ice loss, ice sheet melting, and sea level rise.
Central to PREFIRE's mission is Earth's energy budget — the balance between solar energy absorbed and terrestrial heat radiated into space, crucial for understanding global climate trends. The mission will focus on measuring far-infrared radiation emitted from Arctic and Antarctic regions, where these wavelengths play a significant role in climate dynamics.
Charles Leclerc Makes History with Monaco Grand Prix Triumph
Charles Leclerc, the Ferrari driver, achieved a remarkable feat by becoming the first Monegasque driver to win the Monaco Grand Prix since Louis Chiron in 1931, ending a drought of 92 years.
Leclerc's victory, his first since the 2022 Austrian Grand Prix, came after a chaotic race marred by two standing starts and several first-lap collisions. Despite the challenges, Leclerc, who had previously failed to secure a podium finish in six previous attempts at the iconic race, started from pole position and controlled the race from the outset.
McLaren's Oscar Piastri finished second, trailing Leclerc by 7.1 seconds, while Ferrari's Carlos Sainz secured third place.
No MotoGP in India in 2024 as Race Shifted to Next Year
As per local promoters, the India round of the MotoGP championship will not take place on the scheduled date in September 2024 and instead has been moved to March 2025. Reports claiming that the race promoters had not cleared all their dues with rights holders Dorna after the inaugural round last year had led to uncertainty over the second edition scheduled on September 20-22, 2024.
India Announces $1 Million Relief Assistance for Landslide-Hit Papua New Guinea
India announced an immediate relief assistance of one million US dollar to support relief, rehabilitation and reconstruction efforts to Papua New Guinea in the wake of devastating landslide. A massive landslide occurred on May 24 in Enga Province, Papua New Guinea which buried hundreds of people and caused major destruction and loss of life.
Prime Minister Narendra Modi expressed grief over the loss of lives and damage caused by the devastating landslide in Papua New Guinea.
Akhilesh Yadav's Party Leader Calls Amit Shah 'Chanakya of Politics', Hints at Switchover
In a setback for the Samajwadi Party, its leader and former minister Narad Rai hinted that he is all set to join the BJP and heaped praise on Prime Minister Narendra Modi and Home Minister Amit Shah.
At a meeting in Khori Pakad village, Rai had alleged that he was humiliated at a rally in favour of SP candidate Sanatan Pandey as his name was not taken by SP president Akhilesh Yadav though he was present on the dais.
Centre Sanctions Rs. 21,253 crore to Tackle Kerala's Economic Crisis
Prime Minister Narendra Modi came forward to assist Kerala in a bid to alleviate the state from the economic crisis as the Centre sanctioned borrowings up to Rs. 21,253 crore.
This substantial financial aid aims to address the state's pressing economic needs and facilitate the execution of critical projects for the welfare of its citizens.
Indian Army Partners with IOCL for Green and Sustainable Transport Solutions
The Indian Army collaborated with the Indian Oil Corporation Limited (IOCL) for incorporating green and sustainable transport solutions in the force.
A Memorandum of Understanding (MoU) was signed between the Army and the IOCL in presence of Army Chief Gen Manoj Pande and Indian Oil Chairman Shrikant Madhav Vaidya to take forward the initiative.
At an event, one hydrogen fuel cell bus was received by the Indian Army under the framework of the collaboration.
Nepal's Purnima Shrestha Becomes First Woman in World to Climb Mount Everest Thrice in 13 Days
Purnima Shrestha, a 32-year-old mountaineer from Gorkha, Nepal, and a photojournalist by profession has made history as the first woman in the world to climb Mount Everest three times in the same season, all in just 13 days.
Her exceptional triple ascent beats the previous record of any woman summiteer to climb Everest thrice in a single season. She has climbed Everest four times, with a prior summit in 2018.
On the International Day of United Nations Peacekeepers, celebrated annually on May 29, we honour the extraordinary contributions of peacekeepers towards international peace and security. Since the establishment of the first UN peacekeeping mission in 1948, more than two million peacekeepers have served in 71 missions, helping countries navigate from war to peace.
It was first commemorated in the year of 2003 after a resolution passed by the United Nations General Assembly on December 11, 2002, in response to an official request from the Ukrainian Peacekeepers Association as well as the Government of Ukraine to the UNGA (United Nations General Assembly). The United Nations Truce Supervision Organisation (UNTSO) was established on this date in the year of 1948 to oversee the ceasefire following the 1948 Arab-Israeli War, and it was the first ever UN peacekeeping deployment.
The United Nations commemorated the International Day of Peacekeepers 2024 under the theme, 'Fit for the Future: Building Better Together'.
International Everest Day
Mount Everest Day or International Everest Day is celebrated every year on May 29. The day is dedicated to honouring the two brave climbers Sir Edmund Hillary and Tenzing Norgay Sherpa who climbed the highest mountain in the world on May 29, 1953.
Major Radhika Sen of Himachal Pradesh Earns Prestigious UN Award
Major Radhika Sen, who hails from Himachal Pradesh, won the United Nations Military Gender Advocate of the Year Award.
A UN statement said she was working at the United Nations Stabilisation Mission in the Democratic Republic of the Congo (MONUSCO).
Born in Himachal Pradesh in 1993, Major Radhika Sen joined the Army eight years ago. She graduated as a biotech engineer and was pursuing her post-graduation from IIT Bombay, when she decided to join the armed forces. Major Radhika Sen served in the east of the Democratic Republic of the Congo (DRC) from March 2023 to April 2024 as the commander of MONUSCO's engagement platoon. She received the award from UN Secretary-General Antonio Guterres.
Fischer Medical Ventures Makes India's First Indigenous MRI System
Chennai-based Fischer Medical Ventures (FMVL) unveiled India's inaugural domestically produced magnetic resonance imaging (MRI) systems, aiming to reduce the nation's dependency on imported medical devices. According to FMVL, this achievement marks a significant milestone in the country's healthcare sector. The company expressed its readiness to pursue acquisitions and investments to expand its medical imaging and technology offerings.
Fischer MVL is currently manufacturing its MRI systems at a production facility situated in the Andhra Pradesh MedTech Zone (AMTZ) in Visakhapatnam, leveraging the park's conducive environment and skilled workforce.
IIT Madras Zanzibar Launches New MTech Programme in Ocean Structures
IIT Madras Zanzibar launched a new MTech Programme in Ocean Structures for the Academic Year 2024-25.
The new two-year Master of Technology Programme is open to candidates of all nationalities and comes with two streams - 'Offshore and Ship structures' and 'Port Harbour & Coastal structures'. Stream selection will be based on CGPA obtained by students at the end of first semester.
IIT Madras Zanzibar is the first ever international campus of an IIT. Classes for the first Academic Year (2023-24) commenced during October 2023. The programmes at IITM Zanzibar are open to students of all nationalities, including Indians.
The Indian Ocean archipelago of Zanzibar is a semi-autonomous province of Tanzania.
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