Daily News


Giuseppe Conte sworn in to lead populist Italian government

A law professor, Giuseppe Conte was sworn in as Italy's new Prime Minister after a last-ditch coalition deal ended months of political deadlock and narrowly avoided snap elections in the eurozone’s third-largest economy.

Conte, an academic and political novice will head a government of ministers from the anti-establishment Five-star movement (M5S) and the far-right League party.

The 53-year-old was sworn in alongside his cabinet, which will see M5S leader Luigi di Maio and League Chief Matteo Salvini in key ministerial posts.

Did you Know

The capital of Italy: Rome
The currency of Italy: Euro
President of Italy: Sergio Mattarella


Manipur To Get India's First Sports University

President Ram Nath Kovind has given his assent to the Union Cabinet’s approval on an ordinance to set up the country’s first national sports university in Imphal, Manipur.

The University would provide a boost to sports activities in the country, and also improve the country’s sports performance at the national and international levels. The proposed University has also considerable employment generation potential

Did you Know

Chief Minister of Manipur: N.Biren Singh
Governor of Manipur: Chura Chand Singh


Govt launches New Benami Transactions Informants Reward Scheme, 2018

A new reward scheme titled Benami Transactions Informants Reward Scheme, 2018 issued by Income Tax Department to unearth black money and to reduce tax evasion.

This reward scheme is aimed at encouraging people to give information about benami transactions and properties.

Under this scheme, a person can get reward up to Rs. One crore for giving specific information to the Additional Commissioners of Benami Prohibition Units (BPUs) in Investigation Directorates of Income Tax Department.

Did you Know

The parent organization of Income Tax Department: Ministry of Finance
Minister of Finance: Arun Jaitley
(Temporary Additional Charge: Piyush Goyal)


Abdel Fatah al Sisi sworn in as Egyptian president

Abdel Fattah al-Sisi has been sworn in for a second term as Egypt's president with a vow to fight “those who choose violence, terrorism and extremism”.

Sisi won 97% of the vote in March but on a turnout of just 41% and with an opponent who was his supporter.

Did you Know

The capital of Egypt: Cairo
The currency of Egypt: Egyptian Pound


PM Modi gives Padma Shri award to former Singaporean diplomat

Prime Minister Narendra Modi handed over the Padma Shri award, one of India's highest civilian awards, to former Singaporean diplomat Tommy Koh.

Koh was among 10 Association of Southeast Asian Nations recipients of the prestigious award.

Koh, 80, has served as Singapore's ambassador to the US and the UN, and as President of the Third United Nations Conference on the Law of the Sea in 1981 and 1982.

Did you Know

Padma Shri is the fourth highest civilian award in the Republic of India.
It is announced every year on India's Republic Day


India, Singapore to upgrade Comprehensive Economic Cooperation Agreement

India and Singapore have agreed to upgrade their Comprehensive Economic Cooperation Agreement soon to boost bilateral trade.

They signed eight agreements in the fields of the training of public service officials, cybersecurity, narcotics control and defence cooperation.

The second review of CECA includes expanded tariff concessions for an additional 30 products and improved rules to provide more flexibility for Singapore exports into India to qualify for preferential tariffs under the agreement.

Did you Know

Prime Minister of Singapore: Lee Hsien Loong


Milk production to grow at 9 percent annually by 2022 from 6 percent now

The annual growth in milk production will increase to 9 % by 2022 from the current 6.3 % on the back of several initiatives taken by the government to boost the dairy sector.

The annual increase in milk production is 6.3 % during the 2014-18 period while annual increase in milk production during the period 2010-14 was 4 %.

Did you Know

Union Minister of Agriculture: Radha Mohan Singh
World Milk Day: 1st June
The theme of Milk Day 2018: Drink Move Be Strong


Fiscal deficit in April at 24.3% of BE on lower expenditure

Fiscal deficit in the first month of the current financial year touched 24.3 % of the budget estimates on account of higher revenue and lower expenditure.

Fiscal Deficit was higher at 37.6 percent in April of last fiscal.

During the month, the government received Rs.71450 crore (3.93 % of corresponding Budget Estimates for 2018-19 receipts) as per the data released by the Controller General of Accounts (CGA).

The government had budgeted to cut fiscal deficit to 3.3 % of GDP in current fiscal, from 3.53 % of GDP in 2017-18

Did you Know

Minister of Finance: Arun Jaitley
(Temporary Additional Charge: Piyush Goyal)


Government may ask large banks to buy small PSBs’ riskier loans

The government is pushing loss-making state-run banks to sell their riskier assets to larger peers such as SBI, to reduce the capital requirement of public sector lenders, that have been hit hard by the RBI’s latest norms on provisioning for bad debt.

Banks that are part of the RBI’s prompt corrective action (PCA) plan are being advised to get rid of more risky assets, which are loans to companies with weak finances.

Because the finance ministry has ruled out any fresh fund infusion beyond the Rs 65,000 crore that was announced as part of the Rs 2.1-lakh-crore re-capitalisation plan.

Did you Know

Headquarters of state bank of India: Mumbai
Chairperson: Rajnish Kumar


Ex-Footballer Timothy Pereira Passes Away

Timothy Pereira, 75, a former international footballer and Tata's player passed away.

Pereira played for Goan sports Association and State Bank before joining Tata Sports Club and played along with other Tata stalwarts like Hafeez, Johar Dad, Marto Gracias, Tony Martin and Babu Narayan.

Did you Know

He represented junior India and Maharashtra a number of times. He played for the country in 1967-68.
He also played hockey and represented Catholic Gymkhana in the local league.