NATIONAL UPDATES:
1. Nayara Energy to invest ₹600 crore in two Ethanol Plants: Nayara Energy, a private downstream company, is planning to invest Rs 600 crore for setting up ethanol manufacturing plants in the country. The move is in line with the government’s target of 20% ethanol blending for FY26. The company plans to set up two ethanol manufacturing plants, each with a production capacity of 200 kiloliters per day (KLPD), in Andhra Pradesh and Madhya Pradesh. The company also aims to increase the number of ethanol plants to with a combined production capacity of approximately 1,000 KLPD with a focus on value enhancement in retail operations and ensuring the reliability of the ethanol blending program in the future.
INTERNATIONAL UPDATES:
1. Ronaldo tops Forbes’ list of highest-paid athletes again: Portugal’s Cristiano Ronaldo topped Forbes’ list of highest-paid athletes for the fourth time in his career while Spanish golfer Jon Rahm moved up to second following his sensational switch to Saudi-backed LIV Golf. Ronaldo became the world’s highest-paid athlete after his move to Saudi Arabian side Al-Nassr and Forbes said the 39-year-old’s estimated total earnings were in the region of $260 million, an all-time high for a soccer player. His on-field earnings amounted to $200 million while his off-field earnings were $60 million thanks to sponsorship deals where brands make use of his 629 million Instagram followers.
2. Japan’s Mizuho hires Sanjay Nayar as advisor for Mizuho Bank India: Mizuho Financial Group has hired private equity veteran Sanjay Nayar as an external senior advisor for Mizuho Bank India (Mizuho). It is Japan’s third-largest lender with $2 trillion in assets. Nayar, who started his career as a banker at Citibank, served as the CEO of Citigroup’s Indian and South Asian operations and was a member of Citigroup’s management committee and Asia executive operating committee.
3. 18 May – World AIDS Vaccine Day: World AIDS Vaccine Day, also known as HIV Vaccine Awareness Day, is observed annually on May 18 Objective – To raise awareness about the ongoing fight against HIV/AIDS and the importance of developing a vaccine. The day marks the anniversary of a 1997 speech by US President Bill Clinton highlighting the importance of an HIV vaccine.
4. 18 May – International Museum Day: International Museum Day is celebrated annually on May 18. Objective – To raise awareness about the importance of museums in cultural exchange, the enrichment of cultures, and the development of mutual understanding, cooperation, and peace among peoples. Theme 2024 – Museums for Education and Research Established during the ICOM General Assembly in 1977 in Moscow, Russia, International Museum Day aimed to create an annual event that would unite museums and raise global awareness about their activities.
OTHER UPDATES:
DEFENCE
1. A.Y.V. Krishna & N. Venu Gopal appointed as Additional Directors in CBI: Senior IPS officers A.Y.V. Krishna and N. Venu Gopal have been appointed as additional directors in the Central Bureau of Investigation (CBI). Krishna, a 1995-batch Indian Police Service (IPS) officer of Assam-Meghalaya cadre, is currently working as Inspector General in the Central Reserve Police Force (CRPF). He has been inducted as the additional director of CBI for a tenure up to August 6, 2028.
Krishna’s batchmate Venu Gopal (Himachal Pradesh cadre) is presently working as joint director in the CBI.
2. 18 May 2024 – Armed Forces Day: Armed Forces Day is celebrated every year on the third Saturday of every May. This year celebrated on 18 May. The best way to celebrate Armed Forces Day is by recogising an armed forces service member and pay your respect. On August 31, 1949, Secretary of Defense Louis Johnson announced that Armed Forces Day will be celebrated every year. President Harry S. Truman was the first person to propose the idea of celebrating a holiday to honour the services provided by the military forces of the country.
SCIENCE AND TECHNOLOGY
1. World’s first 6G device launched in Japan: A Japanese consortium recently introduced the prototype of the world’s first high-speed 6G device, which is claimed to transfer data at lighting speed. As per reports, the purported device can transmit data at a whopping 100 gigabits per second (Gbps) and can cover more than 300 feet. The device is 20x faster than the ongoing 5G technology. With the use of the 100 gigahertz (GHz), the prototype of 6G device can reach speeds of 100 Gbps indoors and the 300 GHz band enables the device to offer 100 gigahertz (GHz) outdoors.
BANKING AND FINANCE
1. IFC extends $500 million financing to HDFC Bank to ramp up microloans: International Finance Corporation (IFC) has provided $500 million loan to HDFC Bank for extending microloans to underserved women” in rural and semi-urban India. It would use IFC’s financing for on-lending as microloans to self-help groups (SHGs) and joint liability groups (JLGs) enrolled in the Sustainable Livelihoods Initiative (SLI). IFC aims to promote greater inclusiveness of underserved women borrowers by showing the viability of scaling up microlending to this segment.
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