India & The World - a quick round up of 23-May-2022

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 NATION & ECONOMY

1. PM Modi heads to Tokyo for a two-day visit.
  • Purpose- To attend QUAD summit.
  • Focus - Review of progress of initiatives launched by Grouping.
              - Discussion of development in Indo-Pacific region.  
    (SOURCE : HT news)                             

         
2. After Excise Duty reduction by Centre, the VAT (Value Added Tax) rates have been reduced in 3 states, namely :-
  • Maharashtra 
  • Rajasthan
  • Kerala

States                                       

 Reduction - Petrol        (₹)

 Reduction - Diesel      (₹)

Maharashtra

2.08

1.44

Rajasthan

2.48

1.16

Kerala

2.41

1.36

Here, Maharashtra expects an Annual Loss of around ₹2500 crores to State Exchequer.
(SOURCE : Hindustan Times)

3. TRAI (Telecom Regulatory Authority of India) is set to introduce a Caller ID Feature similar to Truecaller. It will display IDs based on KYC,  unlike Truecaller. 
Move aims to:
  • Reduce spam calls 
  • Most importantly replace TRUECALLER.


4. Vinai Kumar Saxena is appointed as Delhi's new Lieutenant General. 



BUSINESS


1. SEBI to announce disclosure norms for Asset Management companies regarding Fund Managers removal, following the way Axis Mutual Fund has handled its fund manager.
(Source : Times Mint, Hindustan Times)

2. JSL Lifestyle Ltd., a unit of India's largest integrated stainless steel producer, is planning to build armoured & bullet-proof vehicles for Indian Armed Forces.
  • The initiative comes under the objective/umbrella of ATMANIRBHAR BHARAT. 
  • Under which the government is slowly trying to promote production of high quality defence equipments.
  • Aim is to reduce the dependence on Imports. 
(Source - Hindustan Times)

3. Infosys reappoints Salil Parekh as CEO from July 22 for next 5 years till 2027.
(Economic Times)



4. Zomato incurs loss of ₹360 crores in Q4 but has correspondingly recorded a revenue rise of 75%.   

According to CEO Deepinder Goyal, the food delivery giant is primarily focusing on conserving cash right now to offset the losses. 

The reason for loss is reported to be the Shortfall of Delivery Boys.
(Economic Times)



WORLD NEWS 


1. The WORLD ECONOMIC FORUM has returned after 2.5 years & is being hosted by DAVOS, Switzerland.
  • TITLE : HISTORY AT A TURNING POINT.
  • AGENDAS  :  - UKRAINE CRISIS 
                           - CLIMATE CHANGES 
                           - CRYPTOCURRENCIES
                           - RISING INFLATION
                           - ROLE OF MULTILATERAL INSTITUTIONS

  • SPEAKERS :  - Ukrainian President VOLODYMYR ZELENSKY
                            - European Commission President URSULA von der LEYEN
                            -  German Chancellor OLAF SCHOLZ
  • INDIA'S Story :  - FIGHT AGAINST COVID-19
                                - Attracting more INVESTMENTS.

Source - Times Mint 
https://www.livemint.com/news/world/at-davos-summit-zelensky-seeks-more-weapons-maximum-sanctions-against-russia-11653307720428.html


2. North Korea has resumed testing Intercontinental Ballistic Missiles. 
    It has started preparing for a Nuclear Test.


SPORTS 


1. Manchester City has won EPL for the 4th time in the past 5 years. All the 4 titles won by the club have come under their manager Pep Guardiola. 


SOURCE: HINDUSTAN TIMES 

2. Inter Milan has won Serie A  after a gap of 11 years.

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