16 May 2024 Current Affairs in English

Today’s Current Affairs – 16 May 2024

16 May 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 16 May 2024 Current Affairs is essential for students who are preparing for exams, especially competitive exams, as it forms an important part of the syllabus. The importance of the 16 May Current Affairs lies in its ability to help students enhance their general knowledge, improve their reading and comprehension skills, and develop their critical thinking abilities.

16th May Daily Current Affairs 2024

16 May 2024 Current Affairs also provides students with insights into issues such as politics, economics, and social issues that are important for their overall development as informed citizens. Regularly reading and analyzing the 16 May 2024 Current Affairs not only helps students ace their exams but also prepares them for their future roles as responsible and well-informed citizens of society.

The International Day of Light 2024

The International Day of Light (IDL) is celebrated on May 16th, 2024. The United Nations Educational, Scientific and Cultural Organization (UNESCO) established the International Day of Light in 2017. The date coincides with the first successful operation of a laser by physicist and engineer Theodore Maiman in 1960.

The International Day of Light 2024 theme is “Light in Our Lives”, to let the light guide us the way forward. This theme highlights the various ways that light impacts our daily lives, from the beauty of natural light and color to the applications of light-based technologies in science, medicine, and communication. Read the complete article here.

International Day of Living Together in Peace 2024

The International Day of Living Together in Peace is observed on 16 May every year. The UN General Assembly established this day to support the international community’s efforts to promote peace, unity, and solidarity. 16 May was officially declared as the ‘International Day of Living Together in Peace’ by the UN General-Assembly, in its resolution 72/130.

Sunil Chhetri Announces Retirement, To Play Last Match For India On June 6

Indian football icon Sunil Chhetri announced his decision to retire from international football after the FIFA World Cup qualifying match against Kuwait in Kolkata on June 6, bringing the curtains down on a glorious two-decade career. Chhetri had made his 150th appearance for India in March and scored on the occasion against Afghanistan in Guwahati.

Chhetri, who made his debut in 2005, has scored 94 goals for the country. He will leave the scene as India’s all-time top scorer and most-capped player. He is also third in the list of goal scorers among active players behind Cristiano Ronaldo and Lionel Messi.

Neeraj Chopra wins Gold in Federation Cup with throw of 82.27 metres

In men’s javelin throw, Olympic champion Neeraj Chopra won the gold medal in Federation Cup 2024 in Bhubaneswar. The 26-year-old superstar struggled in the initial rounds of competition as he was second after three rounds. He took the lead in the fourth round with an effort of 82.27m.

Neeraj Chopra last took part in a domestic competition at the same event in 2021, when he won a gold with a throw of 87.80m. Since then, he has won a historic gold in the Tokyo Olympics, became Diamond League champion in 2022, world champion in 2023 and defended Asian Games gold in China.

PhonePe launches cross-border UPI payments in Sri Lanka

On May 15, PhonePe announced that it has enabled UPI payment acceptance in collaboration with LankaPay. Earlier in February, India’s instant payment technology service, the Unified Payment Interface (UPI), was launched in Sri Lanka and Mauritius in a virtual event that was attended by Prime Minister Narendra Modi.

Total exports of merchandise and services in FY 2024-25 surge with 6.88% growth

India’s total exports of merchandise and services in April 2024 is estimated to be 64.56 billion dollars against 60.40 billion dollars in April 2023. The data shows a positive growth of 6.88% on a yearly basis. As per the data released by the Ministry of Commerce and Industry, Country’s merchandise exports grew by 1.08% at 34.99 billion dollars in April 2024

as compared to 34.62 billion dollars in April 2023. Main drivers of merchandise exports growth during April 2024 include Electronic Goods, Organic & Inorganic Chemicals, Petroleum Products and Drugs & Pharmaceuticals.

Electronic goods exports increased by 25.8% from 2.11 billion dollars in April 2023 to 2.65 billion dollars in April 2024. As per the data, Merchandise imports in April 2024 were 54.09 billion dollars, as compared to 49.06 billion dollars in April 2023.

Unemployment rate in urban areas dips to 6.7% in March quarter: Govt survey

The unemployment rate in urban areas for persons aged 15 and above has decreased to 6.7% during the previous quarter January to March 2024. The unemployment rate was 6.8% during the corresponding period of last year. According to the Periodic Labour Force Survey quarterly bulletin (January – March 2024), the female unemployment rate decreased to 8.5%.

According to the survey, the Labour Force Participation Rate in urban areas has shown an increasing trend from 48.5% to 50.2% from January to March 2024 in comparison to the corresponding period of last year. In the same period, Female Labour Force Participation Rate in urban areas rose from 22.7% to 25.6%.

The survey highlights an increasing trend in the worker population ratio for persons of age 15 years and above to 46.9% from 45.2%. The female worker population ratio in urban areas also rises from 20.6% to 23.4% during the survey period.

Indian Air Force testes BHISHM state-of-the-art indigenous mobile hospital, for airdrop in Agra

Indian Air Force has tested BHISHM Cube, a state-of-the-art indigenous mobile hospital, for airdrop in Agra. This innovative technology is a great leap forward in providing rapid and comprehensive medical aid during emergencies anywhere.

This cube is a part of the broader initiative named Project BHISHM – Bharat Health Initiative for Sahyog, Hita, and Maitri, and is tailored to treat up to 200 casualties. These cubes are robust, waterproof, and light, designed for various configurations, making them ideal for diverse emergency scenarios.

Indian economy likely to grow at 6.6% in FY25, says Moody’s

Moody’s Ratings projected a 6.6% growth rate for the Indian economy in the fiscal year ending March 2025 (FY25).

The forecast attributes the growth to strong credit demand and robust economic performance, which will support the profitability of non-bank finance companies (NBFCs).

In comparison to Moody’s forecast, the Reserve Bank of India (RBI) and other agencies have higher growth projections. The RBI, Asian Development Bank (ADB), and Fitch Ratings each estimate a 7% growth rate for FY25, while S&P Global Ratings and Morgan Stanley predict a 6.8% growth rate. Moody’s also projects a 15% growth in loans at NBFCs over the next 12 to 18 months.

ReNew inks initial pact with Societe Generale for $1 billion debt financing

Energy firm ReNew announced that it has signed an initial pact with European bank Societe Generale for up to $1 billion in financing as debt and advisory solutions over the next three years.

The MoU aims to support the financing and development of the company’s various strategic energy transition projects both in India and globally.

Both parties will leverage their respective expertise to strengthen the collaboration on utility-scale energy projects including solar, wind, complex renewables, green hydrogen, energy storage, and solar modules manufacturing. ReNew has a clean energy portfolio of 15.6 GW on a gross basis as of May 9, 2024.

P Shyaamnilkhil becomes India’s 85th Grandmaster after 12-year wait

P Shayaamnikhil became India’s 85th Grandmaster by completing his third and final GM norm in the just-concluded Dubai Police Masters chess tournament, ending a 12-year wait for the player who took to the sport as an eight-year-old. He had completed the necessary 2500 Elo rating points – mandatory to become a GM – to secure two Grandmaster norms all the way back in 2012.

India Showcases Its Green Hydrogen Potential At World Hydrogen Summit 2024 In Netherlands

India has set up its pavilion at the 2024 World Hydrogen Summit, currently underway in Rotterdam, Netherlands from May 13-15. Organized by the Ministry of New and Renewable Energy, the India Pavilion stands as one of the largest at the event, showcasing the country’s advancements in green hydrogen technology and facilitating engagement with stakeholders.

India launched its National Green Hydrogen Mission in January 2023 with an overall outlay of Rs 19,744 crore. It targets to achieve a green hydrogen production capacity of 5 million tonnes by the end of 2030. Additionally, scheme guidelines have been notified for utilizing green hydrogen in key sectors such as steel, transportation, and shipping.

Union Power Minister RK Singh recently highlighted that approximately 44 percent of India’s energy needs are currently met by non-fossil sources. This is projected to surge to around 65 percent by 2030, surpassing the commitments made by the country at the COP summit in 2021.

Daily Current Affairs 2024

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