Current Affairs Daily Digest – May 12 2019

Current Affairs Daily Digest – May 12 2019

1. Shreeniwas Oka sworn in as Chief Justice of Karnataka HC

Justice Abhay Shreeniwas Oka took oath as the chief justice of Karnataka High Court.

Oka was one of the senior-most judges of the Bombay High Court.He had enrolled as an Advocate in 1983 and started practising in Thane district court.

He was elevated as additional judge of the Bombay High Court in August, 2003 and appointed as a permanent Judge in November 2005.

2. Subhash Chand appointed as the next Ambassador of India to the State of Eritrea

Shri Subhash Chand, presently Deputy High Commissioner in the High Commission of India, Abuja, has been appointed as the next Ambassador of India to the State of Eritrea.

3. SBI cuts MCLR across all tenors by 5 bps

The State Bank of India (SBI), announced on Friday that it has reduced its marginal cost-based lending rate (MCLR) by 5 bps across all tenors. after the 5 bps cut, the 1-year MCLR will come down from 8.5 percent per year to 8.45 percent. “As a result, interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from 10 May, 2019.

This is the second rate cut by the country’s largest lender in the past one month. After the monetary policy review in April, the bank had reduced its MCLR by 5 bps.

4. UN To Hold 2020 Ocean Conference In Lisbon

United Nations General Assembly (UNGA) decided to hold its 2020 high-level conference early June in Portugal’s Lisbon to support the sustainable use of the oceans, seas and marine resources.

The UNGA “decides to convene the high-level 2020 United Nations Conference to Support the Implementation of Sustainable Development Goal 14: Conserve and sustainably use the oceans, seas and marine resources for sustainable development in Lisbon, from June 2 to 6, 2020,” according to a resolution adopted by the 80th plenary meeting of the UNGA 73rd session.

5. Tim Cook inaugurates Apple Carnegie Library in US

Apple CEO Tim Cook has inaugurated the Apple Carnegie Library, which is the “most extensive historic restoration project to date”, in Washington.

Cook, along with company’s Retail Head Deirdre O’Brien, Marketing Chief Phil Schiller and city’s Mayor Muriel Bowser, inaugurated the library, which has over 200 employees,.

6. Indian-American student wins ESPN Esports championship

A team from Georgia Institute of Technology, including an Indian-American student, has won “Hearthstone Collegiate Championship”, part of the first-ever ESPN Collegiate Esports Championship.

Shiv Chopra along with two Georgia Tech teammates swept off Minnesota team 3-0 in the finals here late Saturday.

7. International Nurses Day: May 12

International Nurses Day (IND) is an international day observed around the world on 12 May (the anniversary of Florence Nightingale’s birth) of each year, to mark the contributions that nurses make to society.

The theme for the International Nurses Day 2019 is ‘Nurses – A Voice to Lead –Health for All’.

8. Bhojpuri folk singer Hiralal Yadav dies at 93

Padma Shri awardee Bhojpuri folk singer Hiralal Yadav died at the age of 93. Yadav, who was famously known as ‘Birha Samrat’, was undergoing treatment at a city hospital and was discharged on Saturday.

Yadav was felicitated with Padma Shri award this year in the month of January, and was also honoured with Yash Bharti award by the Uttar Pradesh government in 2015.

9. Govt to set up panel under DGFT to look at steel availability for engineering exporters

The government has decided to set up a committee under the Director General of Foreign Trade (DGFT) to look into availability of steel at competitive prices for engineering goods exporters, an official said.

“The committee will submit its report to steel and commerce ministries within two months. It will suggest measures which will be a win-win situation for both steel producers and engineering exporters,” the official added.

10. Venice Biennale to get an India pavilion for the first time in 8 years

For the first time in eight years, there will be an India pavilion at the Venice Biennale this year. This facility will host an India-specific exhibition on the theme of “Hundred and Fifty Years of Mahatma Gandhi”, entitled Our Time for a Future Calling, in which eight artists are participating.

The biennale is set to open on 11 May and runs till the end of November. On display at the Indian pavilion will be a range of paintings, installations and photographs, by leading modern and contemporary artists.

11. Japan Tests World’s Fastest-ever Alfa-X Bullet Train Capable of Reaching 400 kmph

Japan has started testing its fastest-ever bullet train — capable of reaching 400 kilometres per hour (249 mph) — as it continues to develop the revolutionary mode of travel.

The ALFA-X version of the Shinkansen train began three years’ worth of test runs on Friday.

Once it enters operation sometime around 2030, it will run at speeds of up to 360 kph (224 mph), comfortably making it the world’s fastest bullet train. It will also outpace China’s Fuxing train, which runs at 10 kph slower despite being designed with the same top speed capabilities as the ALFA-X.

12. Rich List 2019: Hinduja brothers top rankings for third time

The billionaire Hinduja brothers have been named as the wealthiest people in the UK for a third time, according to the Sunday Times Rich List.

Sri and Gopi Hinduja saw their fortune increase by £1.356bn in the last year to £22bn, the paper estimates.

Family business the Hinduja Group was founded in Mumbai in 1914, and now has interests around the world including in oil and gas, banking, IT and property.

British citizens Sri, 83, and Gopi, 79, who are based in London, are two of the four brothers controlling the empire.

Among the properties they own is the Old War Office in Whitehall, which they hope to reopen as a luxury hotel.

The two brothers topped the newspaper list in 2014 and in 2017.

The Sunday Times Rich List 2019 (Top 5)

1.Sri and Gopi Hinduja (Industry and finance) | £22bn

2.David and Simon Reuben (Property and internet) | £18.7bn

3.Sir Jim Ratcliffe (Chemicals) | £18.2bn

4.Sir Len Blavatnik (Investment, music and media) | £14.4bn

5.Sir James Dyson and family (Household goods and technology) | £12.6bn

13. Peggy Lipton, actress on “The Mod Squad” and “Twin Peaks,” has died at 72

Actress Peggy Lipton, star of “The Mod Squad” and “Twin Peaks,” has died, a publicist for her daughters confirmed to CBS News. She was 72.