Daily News

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Masatsugu Asakawa elected new ADB president

The Asian Development Bank has elected Masatsugu Asakawa as its new president. He is currently serving as a Special Advisor to Japan’s Prime Minister and Minister of Finance. He is set to assume office as ADB's 10th president on Jan 17, 2020.

Did you Know

ADB: Members – 68; HQ – Manila, Philippines.

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India’s first maritime museum coming up at Lothal in Gujarat

India has decided to establish a National Maritime Heritage Museum at Lothal. The museum will be an independent research centre of underwater archaeology for reconstruction of maritime history, archaeology of boat building and materials traded.

Did you Know

Lothal is a Harappan site on the Saurashtra coast in Gujarat.

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Nearly 78% PMC bank depositors allowed to withdraw entire balance: Sitharaman

FM Nirmala Sitharaman stated that nearly 78% depositors of Punjab and Maharashtra Co-operative Bank have been allowed to withdraw their entire deposits. The steps are being taken to seize properties of promoters of PMC Bank & to auction such properties.

Did you Know

The ceiling of withdrawal from the bank is ₹ 50,000.

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Lewis Hamilton wins 2019 Abu Dhabi GP

Mercedes’ driver Lewis Hamilton has won the 2019 Abu Dhabi Grand Prix by defeating Red Bull’s Max Verstappen. It was Hamilton’s 11th victory out of 21 races. It moves his career total to 84 wins. Ferrari’s Charles Leclerc stood at 3rd place in the event.

Did you Know

Lewis Hamilton also won the 2019 Mexican Grand Prix.

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Ursula von der Leyen takes charge as the President of European Union

Ursula von der Leyen is the first woman to hold the post of President of the European Commission. She is the former German defence minister. She succeeds Jean-Claude Juncker. She has made the issue of climate change one of her top priorities.

Did you Know

European Union: HQ – Brussels, Belgium.

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Lok Sabha passes Bill to effect corporate tax reduction

LS passed a Bill to replace an Ordinance for effecting reduction of corporate tax rates. It will amend Income Tax Act,1961 & Finance (No2) Act. The tax for existing comp has reduced to 22% & 15% for new manufacturing firms incorporated after Oct 1, 2019.

Did you Know

Manufacturing firms should start operations before Mar 31, 2023.

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IFC to invest USD 200 million in Mahindra Finance

International Finance Corporation has anchored an investment of USD 200 million in Mahindra & Mahindra Financial Services to create a dedicated pool of financing for MSMEs in low-income states. At least $ 100 million will be earmarked for women-owned MSMEs

Did you Know

Total credit gap for MSMEs in India is 15% of GDP (IFC study).

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Walmart launches credit card in partnership with HDFC Bank

Walmart India, in partnership with HDFC Bank, launched a co-branded credit card exclusively for members of its Best Price Modern Wholesale ‘B2B Cash & Carry’ stores. The co-branded credit card offers free credit up to 50 days.

Did you Know

Krish Iyer - President and CEO of Walmart India.

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Crisil slashes FY20 growth forecast to 5.1%

Crisil has cut the growth forecast for the current FY to 5.1% from 6.3%. The agency stated that the growth in the 2nd half of 2019-20 will go up to 5.5%, up from 4.75% in the 1st half. Crisil's revision is among the lowest after Nomura's 4.7% forecast.

Did you Know

RBI revised the GDP growth rate for the current FY to 6.1%.

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Lionel Messi Wins 2019 record sixth Ballon d'Or Prize

Lionel Messi won the record 6th Ballon d'Or award in Men’s category. He defeated Virgil van Dijk & Cristiano Ronaldo to take the honours. It is his 1st Ballon d'Or since 2015. USA’s Megan Rapinoe took women's prize. She succeeded Ada Hegerberg (Norway).

Did you Know

Rapinoe won Golden Boot for top scorer with six goals.

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International Day of Persons with Disabilities - 3 December

The day aims to promote the rights & well-being of persons with disabilities in all spheres of society & development. 2019 Theme is ‘Promoting the participation of persons with disabilities & their leadership: taking action on the 2030 Development Agenda’.

Did you Know

It was proclaimed in 1992 by UN General Assembly resolution 47/3

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Global Migration Film Festival (GMFF) organised in Dhaka

The Global Migration Film Festival was organized in Dhaka. A day-long festival screened 15 films on the theme of migration. It was organized by International Organisation of Migrants & Dhaka University Film Society with the support of the European Union.

Did you Know

The Global Migration Film Festival was started in 2016.