Current Affairs Daily Digest – May 25 2020

Current Affairs Daily Digest – May 25 2020

Latest Current Affairs

1. IAF to operationalize its No.18 Squadron at Coimbatore, TN

The Indian Air Force (IAF) is to operationalize its No.18 Squadron at Coimbatore, Tamil Nadu on 27 May. IAF chief, Air Chief Marshal RKS Bhadauria is expected to operationalize the squadron “Flying Bullets” at the Sulur Air Force Station near Coimbatore, TN.

2. WHO adopts “Human Challenge Trial” to develop new vaccine

The World Health Organization (WHO) recently announced eight candidates to enter human trials. Several people step forward to participate in human challenge trial as the race to develop new vaccine for the virus is increasing.

3. World Steel report: India’s steel output declined by 65%

The World Steel Association released the World Steel Report. According to the report, the crude steel report of India declined by 65%. During April 2020, the steel output of India was 3.13 million tonnes.

In April 2019, according to the report, India produced 9.02 million tonnes. In March 2020, India faced a decline of 14% steel output as compared to March 2019.

4. Indian Army Major wins UN award for her work in South Sudan

Indian Army’s Major Suman Gawani has been selected to receive the 2019 UN Military Gender Advocate of the Year Award for raising awareness about protecting women and children from sexual violence during conflict. Gawani has served as a UN peacekeeper in South Sudan since 2018. She has mentored over 230 UN Military Observers on conflict-related sexual violence there.

5. Balbir Singh Sr: Hockey legend passed away at 96

Balbir Singh Sr., a three-time Olympic-medal winning hockey legend passed away on May 25. He was battling multiple health issues for over two weeks.

The hockey legend was 96 and has been survived by his daughter Sushbir and three sons Karanbir, Kanwalbir, and Gurbir. The Director of Fortis Hospital, Mohali informed that he passed away at around 6.30 am and had been admitted to the hospital since May 8.

6. Jahnabi Phookan appointed as National President of FICCI FLO

Jahnabi Phookan, a women entrepreneur and member of the National Board of Indian Institute of Entrepreneurship, has been appointed as the National President of FICCI Ladies Organization (FLO).

FLO is the oldest women-led and -focused business chamber of Southeast Asia and the women’s wing of the apex chamber Federation of Indian Chambers of Commerce and Industry (FICCI).

7. Carmen Reinhart named chief economist at the World Bank

Economist Carmen M. Reinhart, Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School (HKS), will take a two-year leave to become chief economist and vice president at the World Bank on June 15.

An acclaimed authority on international finance and financial crises, Reinhart is widely known for her award-winning scholarly history of financial disasters, “This Time is Different: Eight Centuries of Financial Folly” (2008), written with Harvard economist Kenneth Rogoff. The Gazette spoke with Reinhart about her grim forecast for the U.S. economy, the roles debt and China may play in a recovery, and whether the pandemic spells the end of globalization as we know it.

8. ITC set to acquire Sunrise Foods

ITC Ltd said it is set to acquire Kolkata-based spice maker Sunrise Foods Pvt. Ltd (SFPL), in a move that will help the company cement its position in the country’s fast-moving consumer goods (FMCG) market.

ITC entered into a share purchase agreement on 23 May 2020 to acquire 100% of the equity share capital of SFPL, a company primarily engaged in the business of spices under the trademark ‘Sunrise’, ITC said in a press released.

9. Maruti Suzuki ties up with Cholamandalam for customised auto finance

Maruti Suzuki India announced a partnership with Cholamandalam Investment & Finance Company Ltd (CIFCL) to provide customised auto retail financing solutions to retail buyers through ‘Buy Now Pay Later’ offer.

In a statement, the automobile major said that the scheme will allow customers to start paying the EMIs after 60 days of loan disbursement.This will make the process of car buying more convenient in these unprecedented times, it added.

10. International Missing Children’s Day is observed on May 25

International Missing Children’s Day is an international day celebrated on May 25, the same day as the United States’ National Missing Children’s Day designated by Ronald Reagan in 1983. Every year on May 25, GMCN members pay respects to International Missing Children’s Day, honoring missing and abducted children while celebrating those who have been recovered.

11. Vodafone names Heineken’s Van Boxmeer as new chairman

Vodafone, the world’s second-biggest mobile operator, has recruited Jean-Francois Van Boxmeer, the current CEO of brewer Heineken, to succeed Gerard Kleisterlee as chairman from November this year. The British company said Van Boxmeer, a Belgian, will join as a non-executive director on July 28.