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Current Affairs 25 June 2023
1. Ruby Sinha appointed as the President of BRICS CCI WE
- Ruby Sinha has been appointed as the President of BRICS
Chamber of Commerce and Industry Women Vertical (BRICS CCI WE) for a term of three years. Ruby Sinha is the founder of SheAtWork and Kommune Brand Communications. - BRICS Chamber of Commerce and Industry promotes trade, commerce and entrepreneurship among BRICS countries and other friendly countries. Sinha succeeds Shabana Naseem, who has moved to the position of Executive Director of BRICS CCI and Chief Patron of BRICS CCI WE.
2. Vienna is the world’s most livable city
- Austria’s Vienna has come up top again as the best city to live in
globally, according to a report by the Economist Intelligence Unit (EIU). The Global Liveability Index 2023 attributed Vienna’s success to its “winning combination” of stability, good culture and entertainment, reliable infrastructure, exemplary education and health services. - Copenhagen also retains its position as the second most livable city in the world, while Australian cities Sydney and Melbourne broke into the top five.
3. Himachal Pradesh partners with NDDB to set up state-of-the-art milk processing unit
- The Himachal Pradesh government will collaborate with the
National Dairy Development Board (NDDB) to set up a state-of-the-art milk processing plant in Kangra district. - With an estimated cost of Rs 250 crore, this ambitious project aims to revolutionize milk production and processing in the region. The venture is expected to bring substantial economic and social benefits to the state while enhancing its position in the dairy sector. The partnership with the NDDB marks a key milestone for Himachal Pradesh‘s dairy industry.
Foot Notes:
About Himachal Pradesh:
Chief Minister: Sukhvinder Singh Sukhu
Capitals: Shimla
Governor: Shiv Pratap Shukla
4. American chipmaker Micron to invest 825 million dollars to build Chip Assembly and Testing Facility in Gujarat
- American chipmaker Micron will invest 825 million dollars to build
Chip Assembly and Testing Facility. The combined investment by Macron and Centre and Gujarat government will amount to 2.75 billion dollars. - Phase 1, which will include five lakh square feet of planned cleanroom space, will start to become operational in late 2024 and Micron will ramp capacity gradually over time in line with global demand trends. This move will create up to five thousand new direct Micron jobs and 15 thousand community jobs over the next several years.
Foot Notes:
About Gujarat:
Capital: Gandhinagar
Chief Minister: Bhupendrabhai Patel
Governor: Acharya Devvrat
5. Chinese tech giant Alibaba names Eddie Wu as next CEO
- Alibaba Group Holding, a Chinese e-commerce company that has
been facing challenges in market share and growth recovery after the Covid-19 pandemic, is undergoing leadership changes. - Daniel Zhang, the chief executive who has been with the company for eight years, will be replaced by Joseph Tsai, the executive vice chairman, who will assume the role of chairman of the board. Eddie Wu, the chairman of Alibaba’s core Taobao and Tmall online commerce divisions, will take over as the chief executive of the company, which has a market value of $240 billion.
6. IRDAI Expands Scope Of ‘Use And File’ Procedure For Life Insurance Products
- The Insurance Regulatory and Development Authority of India
(IRDAI) introduced modifications to the existing ‘use and file’ procedure for life insurance products. These changes aim to facilitate the insurance industry in promoting insurance penetration. The circular expands the scope of the ‘use and file’ procedure by including additional categories of life insurance products.
Foot Notes:
About IRDAI :
Established : 1999
Headquarters : Hyderabad, Telangana
Chairperson : Debasish Panda
7. HDFC sells 90% stake in HDFC Credila to PE firms for Rs 9,060 crores
- Housing Development Finance Corp Ltd (HDFC) has sold 90% of
its total stake in its subsidiary HDFC Credila Financial Services Ltd to a consortium of Baring PE (BPEA) and ChrysCapital for Rs 9,060 crores. - The sale of HDFC Credila, the education loan arm of the Housing Development and Finance Corporation (HDFC), comes ahead of the completion of HDFC’s merger with HDFC Bank. In April,2023 the Reserve Bank of India (RBI) had asked HDFC to reduce its stake in Credila to under 10 per cent over the next two years.
Foot Notes:
About HDFC Bank :
Established : 1994
Headquarters : Mumbai
CEO: Sashidhar Jagdishan
8. New Russian frigates will be armed with hypersonic Zircon missiles
- The Commander-in-Chiefof the Russian Navy has recently made an
announcement stating that all new frigate and corvette class vessels of the Russian Navy will be equipped with hypersonic Zircon missiles. - The Zircon Missile, also known as the 3M22 Zircon or SS-N-33, is a hypersonic cruise missile developed in Russia. It is designed as an anti-ship missile with advanced capabilities. The Zircon Missile can achieve speeds of over 9,500 kilometers per hour (6,000 miles per hour), which is approximately nine times the speed of sound. It is a two-stage missile, utilizing solid fuel in the first stage and a scramjet motor in the second stage.
Foot Notes:
About Russia:
Capital: Moscow
Prime Minister: Mikhail Mishustin
President: Vladimir Putin
9. TCS wins $1.9 billion deal to digitally transform UK's National Employment Savings Trust
- IT services giant Tata Consultancy Services (TCS) has announced
a significant expansion of its partnership with the UK’s National Employment Savings Trust (NEST), the country’s largest workplace pension scheme. - The £840 million ($1.1 billion) deal aims to digitally transform NEST’s administration services over an initial tenure of 10 years, providing enhanced member experiences. If extended to the full 18-year tenure, the contract’s total maximum estimated value will reach £1.5 billion ($1.9 billion).
Foot Notes:
About TCS:
Founded: 1 April 1968
Headquarters: Mumbai
CEO: K. Krithivasan
10. Creator Of Iconic ‘Amul Girl’ Campaign Sylvester daCunha Passed away
- Advertising industry veteran & the creator of the iconic ‘Amul Girl’
campaign that started in the 1960s, Sylvester daCunha, Passed away at the age of 80. The ad campaign was launched in 1966 after it was designed by daCunha, who was the then Managing Director of the advertising agency ASP and its art director Eustace Fernandes. - Sylvester daCunha conceived the ‘Utterly Butterly’ campaign for Amul, the brand owned by Gujarat Co-operative Milk Marketing Federation (GCMMF), in 1966 which introduced the ‘Amul Girl’ to the world which continues even today.
Foot Notes:
About Amul :
Founded : 14 December 1946
Headquarters : Anand, Gujarat
Managing Director : Jayen MehtaJayen Mehta
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