Welcome to the Endeavor Editors’ Current Affairs Choicest Blog series. Get a weekly roundup – on news from business, economy, markets, policy, and more. A quick capsule format news summary and update to keep you abreast with all the latest current affairs.
Current Affairs June 2021 – Week 4
1) International News and Global Economy
Iran says nuclear site images won’t be given to IAEA as the deal has expired
The speaker of Iran’s parliament said, Tehran will never hand over images from inside of some Iranian nuclear sites to the U.N. nuclear watchdog as a monitoring agreement with the agency had expired, Iranian state media reported. The announcement could further complicate talks between Iran and six major powers on reviving a 2015 nuclear deal. Three years ago then U.S. President Donald Trump withdrew from the pact and re-imposed crippling sanctions on Tehran; Iran reacted by violating many of the deal’s restrictions on its nuclear program.
For details visit: https://economictimes.indiatimes.com/news/defence/iran-says-nuclear-site-images-wont-be-given-to-iaea-as-deal-has-expired/articleshow/83890612.cms
Watch video: https://www.youtube.com/watch?v=8Gt5lbKKubs
Antony Blinken, Yair Lapid meet in Rome amid reset US-Israel relations
US Secretary of State Antony Blinken and Israeli Foreign Minister Yair Lapid will meet in Rome as their new governments look to turn the page on former President Donald Trump and former Prime Minister Benjamin Netanyahu, whose close alliance aggravated partisan divisions within both countries. Now, with Trump sidelined in Florida and Netanyahu leading the opposition, President Joe Biden and Prime Minister Naftali Bennett are focused on pragmatic diplomacy rather than dramatic initiatives that risk fomenting opposition at home or distracting from other priorities. Both governments will try to preserve Israel’s fragile governing coalition, in part by reducing provocations that played a part in sparking the 11-day war that claimed at least 254 Palestinian lives and killed 13 people in Israel.
For details visit: https://economictimes.indiatimes.com/news/defence/antony-blinken-yair-lapid-meet-in-rome-amid-reset-us-israel-relations/articleshow/83890148.cms
New Israeli coalition: Who are Bennett and Lapid
Israels up-and-coming duo of Naftali Bennett and Yair Lapid seem to have done the inconceivable — unseat Benjamin Netanyahu from the premiership after 12 years in power. Though Bennett is a right-wing nationalist and Lapid defines himself as a centrist, their views on key issues like Hamas, the status of Jerusalem and Arabs in Israel are actually not too far apart. When it comes to the peace process, things get more complicated.
Pakistan hit with $38bn loss due to FATF grey list
Pakistan has been hit with massive losses to its GDP worth $38 billion because of the Financial Action Task Force’s (FATF) decision to retain the country on its grey list since 2008, according to a research paper published by the Islamabad-based independent think-tank, Tabadlab. Pakistan was retained on the grey list, or list of countries under “increased monitoring”, as the Paris-based UN watchdog judged it deficient in prosecuting the top leadership of UN Security Council-designated terror groups. The list includes Lashkar-e-Taiba, Jaish-e Mohammad, Al Qaeda and the Taliban. As per the paper, results suggest that FATF grey-listing, starting in 2008 and till 2019, may have resulted in cumulative real GDP losses of approximately $38 billion.
For details visit: https://economictimes.indiatimes.com/news/international/world-news/pakistan-hit-with-38bn-loss-due-to-fatf-grey-list/articleshow/83867954.cms
Pakistan remains on FATF grey list, told to act against UN-designated terrorists
Explained: What is Japan’s four-day work week proposal?
In its annual economy guidelines, Japan’s government has announced its plans to urge employers to initiate a four-day workweek instead of the current five-day workweek. These guidelines were finalized last week by Japan’s prime minister Yoshihide Suga and aim to bring about work-life balance, especially for people who have to take care of their families or want to learn new skills. The policy has been implemented keeping in mind the labor shortage in the country. The idea is to improve employees’ productivity, but some employers are skeptical if productivity will be boosted enough to compensate for the lost workday.
For details visit: https://indianexpress.com/article/explained/japan-four-day-work-week-proposal-7375887/
Airbus offers to assemble Eurofighter in Switzerland to win $6.5 billion deal: Report
Airbus has offered to assemble Eurofighter aircraft in Switzerland if Bern picks it for a 6 billion Swiss franc ($6.5 billion) defence contract. Germany, Italy, Spain and Britain, who make the Eurofighter, have also offered Bern sweeping political cooperation should it win the Swiss contest between two U.S. and two European fighter jets, which are to be delivered by 2025. The Swiss cabinet is set to decide among the Eurofighter, the Rafale from France’s Dassault, Boeing’s F/A-18 Super Hornet and Lockheed Martin’s F35-A Lightning II to replace ageing F/A-18 Hornets.
For details visit: https://economictimes.indiatimes.com/news/defence/airbus-offers-to-assemble-eurofighter-in-switzerland-to-win-6-5-billion-deal-report/articleshow/83890427.cms
How an affair in times of Covid pandemic led to UK Health Secretary Matt Hancock’s resignation
Former Health Secretary Matt Hancock was the frontman for Britain’s response to the COVID-19 pandemic. Ironically, Hancock’s fall from grace was brought about by a violation of the Covid restrictions implemented by the government. A British newspaper had published images from a security camera that showed Hancock kissing an aide in his office. Hancock has now resigned.
Delta has not gone; worried about intensified second wave in rural India: IGIB chief
The second wave of the pandemic has just moved out of the big cities, but the intensified spread of Covid-19 in rural India is a bigger concern now than a possible third wave, says Anurag Agrawal, director of the Institute of Genomics and Integrative Biology (IGIB). However, India is in a better position than most countries when it comes to protection from the prevalent Delta variant of the virus and its sublineages including Delta Plus. Agarwal states, “India is a big country and it looks like people think Delta has gone away. It hasn’t. I am far more worried about the continued or intensified second wave in rural India than I am about the third wave in cities that get everyone’s attention.”
For details visit: https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/delta-has-not-gone-worried-about-intensified-2nd-wave-in-rural-india/articleshow/83820853.cms
Vaccinating children against COVID not priority from WHO perspective: Vaccines expert
The World Health Organisation’s top vaccines expert says that immunising children against the coronavirus “is not a high priority” given the extremely limited global supply of vaccines. Dr Kate O’Brien says vaccinating children “is not a priority from a WHO perspective”, even as increasing numbers of rich countries authorise their COVID-19 shots for teenagers and children. O’Brien says since children are not typically at risk of getting severely ill or dying from COVID-19, vaccinating them during the pandemic is mostly aimed at stopping transmission, rather than protecting them from disease.
For details visit: https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/vaccinating-children-against-covid-not-priority-from-who-perspective-vaccines-expert/articleshow/83230307.cms
Why so many Covid-19 variants are showing up now
SARS-CoV-2 hasn’t actually been mutating faster, instead, by letting it spread around the world, we’ve just given it more and more opportunities to mutate as it replicates. The result is that, after countless random mutations, there are signs that the virus is beginning to adapt to our natural defenses. And because it’s completely normal for a virus to change over time, we shouldn’t expect it to stop. The only real way to stop those changes is to stop giving the virus so many opportunities.
Explained | What is the Delta and Delta Plus Variant? How does it impact Vaccines? | The Quint
After Air India, Cairn to target more state cos to recover money due from govt
After Air India, Britain’s Cairn Energy PLC plans to target assets of state-owned firms and banks in countries from the US to Singapore as it looks to ramp up efforts to recover the amount due from the Indian government after winning an arbitration against levy of retrospective taxes. In case of Air India, the national flag carrier has time till mid-July to file a plea contesting Cairn lawsuit. The airline, which is in the process of being privatised, is likely to argue that it is a separate entity and not the alter ego of the Indian government and cannot be forced to pay for any liability of the government. Cairn has identified USD 70 billion of Indian assets overseas for potential seizure to collect award, which now totals to USD 1.72 billion after including interest and penalty.
For details visit: https://economictimes.indiatimes.com/news/company/corporate-trends/after-air-india-cairn-to-target-more-state-cos-to-recover-money-due-from-govt/articleshow/83888062.cms
Two explosives-laden drones crash into IAF station at Jammu airport, two people injured
Two explosives-laden drones crashed into the IAF station at Jammu airport, perhaps the first time that suspected Pakistan-based terrorists have used unmanned aerial vehicles in an attack, officials said. “The attack at the IAF station in Jammu is a terror attack,” Jammu and Kashmir police chief Dilbag Singh stated. While officials were investigating the drone attack, another major strike was averted when a person, probably owing allegiance to the banned Lashker-e-Taiba, was arrested along with an improvised explosive device weighing around six kg, the director general of police said. The person was tasked with triggering the IED in a crowded place. “The suspect has been detained and is being interrogated. More suspects are likely to be picked up in this foiled IED blast attempt,” Singh said.
For details visit: https://economictimes.indiatimes.com/news/defence/two-low-intensity-blasts-at-jammu-air-force-station-use-of-drones-suspected/articleshow/83887833.cms
India and Europe draw closer as economic and political ties blur
India and Europe are drawing closer to each other. In fact, Britain and the European Union are competing for closer ties with India. The EU was India’s third largest trade partner in 2020, absorbing 11.2% of the South Asian country’s exports and imports, after China’s 12.1% and 11.8% for the U.S. While India can become an important export market, a sense of crisis has grown in Europe because of its reliance on China for imports of medical and other supplies amid the COVID-19 pandemic. Europe is now hoping that India can be its alternative source.
For details visit: https://asia.nikkei.com/Politics/International-relations/India-and-Europe-draw-closer-as-economic-and-political-ties-blur
Global economic recovery positive for India: EY
Global economic recovery is positive for India’s economy in the current phase of turmoil, says consultancy firm EY. In its Economic Pulse report, the consultancy firm said: “India’s exports have continued to perform well. India’s total exports of goods have grown 59 per cent over May 2020 and remained stable compared to April 2020. Due to Covid’s second wave, services exports in India took a hit in April, and only a slight increase was accounted in May. However, the Services exports still grew 6 per cent vis-a-vis May 2020.”
For details visit: https://auto.economictimes.indiatimes.com/news/industry/global-economic-recovery-positive-for-india-ey/83886650
Indian states need more financial support from Modi government, says an S&P report
Indian states’ weaknesses outweigh their strengths as they battle the pandemic and they need financial support from the Centre, which is already dealing with drastically reduced revenue, according to S&P Global Ratings. The Covid-19 pandemic could increase budget deficits and indebtedness of state governments as spending needs to exceed revenue collected, S&P Global analysts YeeFarn Phua and Ruchika Malhotra said in a report. The federal government and the Reserve Bank of India will remain key pillars for states’ fiscal framework and performance, they said. Still, in the next two years Indian states will struggle to consolidate their deficits, which will run at more than 25% of revenue, according to the analysts, who expect a meaningful consolidation in the year ending March 2024.
For details visit: https://economictimes.indiatimes.com/news/economy/indicators/indian-states-need-more-financial-support-from-modi-government-says-an-sp-report/articleshow/83867175.cms
Rising regulatory push raises compliance level on public disclosure of ESG strategies: Report
Increasing regulatory push has seen an increasing compliance level on public disclosure of environmental, social and governance (ESG) strategies and performance data, with as much as 98 per cent of domestic companies publishing sustainability reports, according to a report. The Companies Act, 2013, has made impact, affirmative actions and investments mandatory through the compulsory 2 per cent CSR spends, while, the Securities and Exchange Board of India has mandated the 1,000 largest publicly listed companies to report on their ESG practices, under provisions of the newly introduced business responsibility and sustainability report (BRSR) guidelines. Both these measures have pushed up the level of disclosures.
For details visit: https://economictimes.indiatimes.com/news/company/corporate-trends/rising-regulatory-push-raises-compliance-level-on-public-disclosure-of-esg-strategies-report/articleshow/83842333.cms
USISPF | COVID-19 proves Indian economy’s resilience: FM Nirmala Sitharaman
Addressing a global investors’ meet hosted by the U.S.-India Strategic Partnership Forum (USISPF), Ms. Sitharaman said that the government has shown a strong record of ‘reform implementation in the last six years’ and showcased the ‘strong relief and reforms undertaken during the pandemic times’. Emphasising India’s ‘continued macro-economic stability and resilience in economic recovery in the recent months’, the Finance Minister said India’s wide-ranging reforms continue to position the country as an attractive destination for foreign investors. There are ‘new opportunities emerging for foreign investors with recent FDI reforms, privatisation policy and PLI (production-linked incentive) scheme’, she pointed out.
For details visit: https://www.thehindu.com/business/Economy/usispf-covid-19-proves-indian-economys-resilience-fm-nirmala-sitharaman/article34958538.ece
UBS ups average inflation print to 5% with more upside risks
After consumer price index jumped the 6.3-per cent mark in May and wholesale inflation set a record of 12.94 per cent, house economists at Swiss brokerage UBS Securities have warned that the country is facing more upside risks on the inflation front that is set to averaging at 5 per cent for the year. “CPI inflation is to remain above the RBI’s medium-term target of 4 per cent and will average at 5 per cent in FY22 with more upside risks,” Tanvee Gupta Jain, the chief India economist at UBS Global Research warned in a note. She expects the near-term CPI trajectory to be affected by any seasonal pick-up in prices of fruits and vegetables during the monsoons, supply-side disruptions due to the resurgence in the pandemic cases alongside the impact of mobility restrictions, and movement in global commodity prices and input cost pressures. However, the report notes that except for edible oils which India imports in large quantities, the country is largely self-sufficient in food production and in fact is a net agri-exporter.
For details visit: https://economictimes.indiatimes.com/news/economy/indicators/ubs-ups-average-inflation-print-to-5-with-more-upside-risks/articleshow/83836172.cms
4) Markets, Banking and Finance
Four sectors that had an impressive Q4 earnings season
Metals, banking and financial services, pharma and IT are the four sectors that reported strong earnings growth in the quarter gone by, says Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services. Khemka states that the 14% earnings growth in FY21 has been the best in the last 11 years. That kind of a momentum in a pandemic year shows the underlying strength of corporate earnings. And now cases in the second wave are coming down sharply and vaccination is picking up. This will lead to a strong demand uptick in the coming quarters and that should only lead to a much higher growth rate. One sector that clearly stood out was metals. It has been at the forefront of the earnings growth.
For details visit: https://economictimes.indiatimes.com/markets/expert-view/four-sectors-that-had-an-impressive-q4-earnings-season/articleshow/83844126.cms
Indian equity market showing ‘unbreakable nature’ amid Covid second wave: Julius Baer
The Indian equity market is showing an “unbreakbale nature” amid the second Covid-19 wave and the benchmark Sensex might well hit 58,500-level by March next year, according to global wealth management major Julius Baer. Emphasising that India is a “very strong market”, Julius Baer MD and Head (Research) Mark Matthews also said companies’ earnings would ultimately drive share prices.
For details visit: https://economictimes.indiatimes.com/markets/stocks/news/indian-equity-market-showing-unbreakable-nature-amid-covid-second-wave-julius-baer/articleshow/83540853.cms
SBI to continue digital agenda, looks to slash NPAs in FY22
State Bank of India (SBI) will continue its digital agenda in FY22 and focus on recovery of stressed assets, chairman Dinesh Khara stated. “In the current financial year, the bank will continue to accelerate its digital agenda. The scope and reach of YONO will be expanded further,” he said. “With the roll-out of pre-package insolvency for resolution, resumption of courts and formation of National Asset Reconstruction Company, efforts will be in full force to keep the momentum in stressed asset recovery in the current financial year,” Mr. Khara added.
For details visit: https://www.thehindu.com/business/sbi-to-continue-digital-agenda-looks-to-slash-npas-in-fy22/article34979561.ece
Default rates among corporate bond issuers to rise in medium term
Rating agency Crisil expects default rates among corporates issuing debt instruments to rise going forward as pandemic-induced regulatory measures get phased out. That said the annual default rates for firms rated by Crisil rating dropped to 2% in fiscal year 2021 notwithstanding the pandemic, owing to various regulatory measures, it said. The default rate for fiscal year 2020 stood at 4.5%, according to the report. Crisil had rated nearly 8,000 participating issuers, including those issuing bonds, loans etc, with nearly 56% of the ratings in the BB category or lower.
For details visit: https://www.livemint.com/companies/news/default-rates-among-corporate-bond-issuers-to-rise-in-medium-term-11624795639587.html
Fitch lifts RIL’s rating a notch above India’s
Fitch Ratings has upgraded Reliance Industries Ltd.’s rating to ‘BBB,’ one notch above India’s sovereign rating, as RIL benefits from cash flow generation across diversified business segments and the continuation of deleveraging. In a statement, Fitch said it had upgraded RIL’s long-term foreign-currency issuer default rating (IDR) to ‘BBB’ from ‘BBB-’, with a negative outlook. At the same time, the agency affirmed RIL’s long-term local-currency IDR at ‘BBB+’ with a stable outlook.
For details visit: https://www.thehindu.com/business/Industry/fitch-lifts-rils-rating-a-notch-above-indias/article34956555.ece
Reliance Jio unveils its smartphone in collaboration with Google
Mukesh Ambani unveiled the new JioPhone Next in India in collaboration with Google, touting the device as the most affordable smartphone in the world. The move comes as the India’s top telecom operator looks to expand its footprint in the smartphone market. The phone is powered by an optimised OS that is leveraged from Android and Play Store built especially for JioPhone Next. It will support suite of applications from Jio to Google as well as Android Play Store. In addition to the new phone, Google and Jio announced a new 5G partnership to deliver high speed internet in India. “The two companies will collaborate to bring a portfolio of 5G edge computing solutions as Jio builds new services across many verticals including gaming, healthcare, education, and entertainment,” Google said in a blog post. Last year, Reliance had announced that Google invested Rs. 33,737 crore for 7.7% stake in Jio Platforms.
For details visit: https://www.thehindu.com/business/Industry/jiophone-next-to-be-most-affordable-smartphone-will-be-available-from-sept-10-mukesh-ambani/article34947847.ece
Adani Group to add 5 Gw green energy a year for next decade, says chairman
Promising to make significant investments in sustainable and renewable energy, the Adani group said it has managed to beat its own target of 25 Gigawatts power generation four years ahead of schedule, due to the acquisition of Softbank-owned SB Energy this year. In a letter to Adani Enterprises shareholders, Group chairman Gautam Adani said the group is aligning with India’s goal of becoming world’s biggest renewable player and has set the goal to be the world’s largest solar power producer for itself. “I also decided that a significant part of our Group’s future investments must be focused on sustainable and renewable energy,” he said.
For details visit: https://www.business-standard.com/article/companies/adani-to-add-5-gw-green-energy-a-year-for-next-decade-says-chairman-121062700466_1.html
Formation of new companies in India soars in FY21, with a Covid bent
Amid the pandemic, 147,247 new companies were incorporated during the financial year 2020-21 — a 43% increase over the preceding financial year, as per Ministry of Corporate Affairs data sourced from Prime Database. The increase is stark when compared with a 2% on-year drop in new company formations in FY19-20. Sectors whose business found salience during the lockdown, such as health & social work, agriculture, education, wholesale trade, retail trade, recreation and sewage & sanitation, drove the surge in company formations. Two-thirds of the new companies were formed during July-December 2020 — hinting at a strong digitalisation model of the business.
For details visit: https://economictimes.indiatimes.com/news/company/corporate-trends/formation-of-new-cos-soars-in-fy21-with-a-covid-bent/articleshow/83854148.cms
Explained: How Small and Medium Companies will benefit from higher thresholds
The Corporate Affairs Ministry has increased the turnover threshold for SMCs to Rs 250 crore from Rs 50 crore, and the borrowing threshold to Rs 50 crore from Rs 10 crore. SMCs are permitted to avail a number of exemptions under the Company (Accounting Standards) Rules 2021 to reduce the complexity of regulatory filings for smaller firms. Take a look at the exemptions, and the impact of the change in the definition of SMC.
For details visit: https://indianexpress.com/article/explained/higher-thresholds-for-small-medium-companies-under-accounting-norms-7376923/
After Myntra and Medlife, Ananth Narayanan turns to D2C, wants to help Indian brands sell globally
Ananth Narayanan was the CEO of Myntra, arguably one of the most well-known ecommerce brands in India. Then, he joined Medlife as Co-founder and CEO, which was acquired by PharmEasy in what was the largest consolidation deal in the country’s online pharmacy sector. Now, he wants to acquire 50 digital-first brands over the next three years, across multiple categories, through his new venture Mensa Brands. In May 2021, Ananth Narayanan’s new venture, Mensa Brands, raised $50 million, pre-launch. It wants to scale India’s D2C brands and enable them to sell globally. According to Ananth, Mensa Brands has a unique opportunity to scale Indian D2C brands by helping them grow on marketplaces, scale their B2C offering on their sites, and then taking them global. “Mensa aims to partner with the best founders and brands, invest in a majority stake of these brands, and create an operating system for them to scale, which will be a combination of product, technology, and ecommerce expertise,” says the founder.
For details visit: https://yourstory.com/2021/06/myntra-medlife-ananth-narayanan-mensa-brands-india-d2c-global/amp
Ananth Narayanan, Founder & CEO of Mensa Brands speaks the Firm’s Strategy | Startup Street
Watch video: https://www.youtube.com/watch?v=4Z4GdC33dFg
5 takeaways from PM Narendra Modi’s all-party meet on Kashmir
Prime Minister Narendra Modi and the leaders from Jammu and Kashmir met for the first time to deliberate on political progress in the Union Territory. Regarding the restoration of statehood for Jammu and Kashmir as demanded by the political leaders, PM Modi reportedly told them that Jammu and Kashmir would become a State again. However, the catch remains in the timing. PM Modi repeated it would happen “at an appropriate time”. But the meeting with the leaders of Jammu and Kashmir 22 months after the momentous decision indicates that the Centre is ready to move in that direction now. The buzz is that only Jammu and Kashmir could be converted from a Union Territory to a State while leaving Ladakh out from this decision at least for the time being. The Election Commission too held a meeting with district election officials from Jammu and Kashmir a day before PM Modi’s Kashmir meeting. Indication is clear that the Centre is moving towards holding assembly election in Jammu and Kashmir.
For details visit: https://www.indiatoday.in/india/story/5-takeaways-from-pm-narendra-modi-all-party-meet-on-kashmir-1819312-2021-06-25
Big Kashmir turn as Gupkar group joins meeting with Modi
As the Gupkar Alliance accepts the Union Home Ministry’s invitation to an all-party dialogue on Jammu and Kashmir with PM Modi, Shekhar Gupta explains what does this move signify and what big change is expected from this meeting.
BSP to contest UP, Uttarakhand assembly elections alone, says Mayawati
The BSP will not enter into any alliance for Uttar Pradesh and Uttarakhand assembly polls, party chief Mayawati said. In a series of tweets in Hindi, the former chief minister categorically denied any tie-up with the AIMIM for the assembly election in Uttar Pradesh due next year. “The party wants to clarify that barring Punjab, the BSP will be contesting the Assembly elections to be held in UP and Uttarakhand alone, and will not be entering into any alliance with anyone,” Mayawati said in another tweet.
For details visit: https://www.livemint.com/news/india/bsp-to-contest-up-uttarakhand-assembly-elections-alone-says-mayawati-11624794196058.html
Puducherry cabinet: 5 ministers inducted; BJP part of govt for first time
Nearly two months after N Rangasamy sworn in as Chief Minister, five ministers were inducted into the NDA cabinet. This is the first time the BJP is part of a government in the Union Territory. Also, for the first time in four decades, Puducherry has got its first woman minister with the induction of AINRC’s Chandira Priyanga. Puducherry was among the states that went to polls in March-April and results were announced on May 2. Soon after the results were announced and the NDA emerged victorious, AINRC chief Rangasamy was sworn-in as chief minister on May 6.
For details visit: https://www.livemint.com/news/india/puducherry-cabinet-5-ministers-inducted-bjp-part-of-govt-for-first-time-11624788819430.html
Euro 2020: Italy set new national record, break 82-year old
feat Italy beat Austria 2-1 in London to advance to the quarterfinals of the ongoing European Championship. With the win, Italy stretched their unbeaten run to 31 games, breaking their national record of a 30-game unbeaten run that stood for 82 years. Italy had gone without defeat for four years between 1935 to 1939.
Cristiano Ronaldo to try to make more history at Euro 2020
Cristiano Ronaldo will be trying to make even more history at the European Championship when Portugal takes on Belgium in the round of 16. Ronaldo has already set the record for most career goals at the tournament and has become the first player to score in five different European Championships. He’s also tied with former Iran striker Ali Daei for the most goals scored for a men’s national team with 109.
For details visit: https://economictimes.indiatimes.com/news/sports/cristiano-ronaldo-to-try-to-make-more-history-at-euro-2020/articleshow/83890552.cms
Sajan Prakash creates history, becomes first-ever Indian swimmer to make Olympic ‘A’ cut
Sajan Prakash became the first-ever Indian swimmer to breach the Olympic qualification time, clocking 1:56:38 seconds in the men’s 200m butterfly event at the Sette Colli Trophy in Rome, Italy. The 27-year-old, who represented India in the 2016 Rio Olympics, made the Tokyo Games ‘A’ standard, set at 1:56.48 seconds, by 0.1 seconds.
For details visit: https://economictimes.indiatimes.com/news/sports/sajan-prakash-creates-history-becomes-first-ever-indian-swimmer-to-make-olympic-a-cut/articleshow/83874581.cms
Shafali Verma becomes youngest Indian cricketer to play in all formats
Teen sensation Shafali Verma became the youngest Indian cricketer to make her debut in all three formats after she was named in the playing XI for the first ODI against England. Shafali was 15 years 239 days old when she made her debut in T20Is in September 2019. She made her debut in the longest format of the game 11 days ago in England. And on 27th June at the age of 17 years 150 days, Shafali made her ODI debut to achieve the feat.
For details visit: https://www.livemint.com/sports/cricket-news/shafali-verma-becomes-youngest-indian-cricketer-to-play-in-all-formats-11624795412856.html
Reliance may soon disrupt India’s solar energy market
Reliance’s foray in green energy, particularly in solar panel manufacturing, has a wider ramification on the entire supply chain, says Harshvardhan Dole, Vice President, IIFL. He states, “The diversification of RIL into green energy is a great step. It will de-risk their revenue model. It will cut down their reliance on traditional O2C business and make them more tech-savvy and a green energy friendly company. This will improve their overall score in ESG framework from a macro perspective. Secondly, RIL’s foray in green energy, particularly in the solar panel manufacturing, has a wider ramification on the entire supply chain. India has been importing panel-related equipment and assembling them here to convert them into a solar module. That has led to questions on sustainability of revenue models of several companies. Now with RIL making an integrated value proposition, it changes the profit pool and the industry structure. To that extent, it is quite a disruptive move.”
For details visit: https://economictimes.indiatimes.com/markets/expert-view/reliance-may-soon-disrupt-indias-solar-energy-market/articleshow/83832645.cms
How Apple came to dominate the wearables industry?
Wearables have changed the way we interact with technology. Fitness trackers, smartwatches, wireless headphones?—?These were items that were once fashionable only among a select group of people. Today, however, they have gained mainstream acceptance. And for tech companies, this is a moment of reckoning. Because “wearables” isn’t just a fringe domain anymore. It’s a multi-billion dollar industry rife for disruption. However, one company seems to be dominating everyone else. And it’s the usual suspect?—?Apple. Apple is miles ahead of everyone else. So far in the first quarter of 2021, Apple has had a global market share of 28.8% followed by Samsung which only has an 11% share to its name. Some estimates suggest that the wearables segment at Apple alone could be worth a mammoth $30 billion. If this division was spun off as a different entity, it would feature amongst the Fortune 100 companies.
For details visit: https://finshots.in/archive/how-apple-is-dominating-the-wearables-industry/
GBG on the Future of Fraud Intelligence
Carol Hamilton, Regional Director EMEAA at GBG manages the fraud and compliance solutions business for EMEA at GBG, working with customers to help them tackle any fraud and compliance challenges through market-leading solutions. Here she explains some of the latest fraud threats and how fraud intelligence can combat the issue. She states, “Fraud is estimated to be a $40billion industry and continues to grow. Over the past year specifically, due to the Covid-19 pandemic transforming the way people bank, we’ve seen a notable increase in specific fraud typologies such as scams and third-party identity theft. As we move into a new digital era, we’re seeing organisations adopt sophisticated technologies to help tackle fraud such as Artificial Intelligence (AI). AI has huge potential to detect certain patterns and activities that may not have previously been considered, on a large scale. It can adapt to new and unforeseen threats quickly, while also reducing false positives. It is worth mentioning that AI has to be developed carefully so as to ensure that while it identifies any ‘bad actors’ it does so in a transparent and fair way. However, I predict the adoption of AI and advances in data science to become more mainstream in the future, which will likely go a long way towards winning the war against fraud.”
For details visit: https://thefintechtimes.com/gbg-on-the-future-of-fraud-intelligence/
Ten key lessons for the present & future of Indian politics from Emergency on its 46th anniversary
On the 46th Anniversary of the Emergency, Shekhar Gupta enumerates ten salient consequences of that 21-month period, finally signposting the importance of renewed laws and a political contract between the people and the state.
With that, we come to an end for our Weekly Current Affairs June 2021 -Week 4. Hope you have liked it. Write your feedback in the comments below and let us know if there is anything else you would like us to cover.
Here’s a faster and easier way to stay updated –