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. Venezuela becomes first country to lose all Glaciers: Venezuela is the first country to lose all of its glaciers, which is a huge change in the environment. New research shows that the Humboldt glacier in the Andes, which used to be very big, has shrunk to less than 2 hectares, which means it is no longer a glacier but an ice field. The Sierra Nevada de Mérida Mountain range in Venezuela used to have six glaciers. As of 2011, five of these glaciers had melted away, leaving only the Humboldt glacier. Professionals thought Humboldt would last for another ten years, but new tests show it has melted much more quickly than expected.
3. Armenia, Azerbaijan Agree On Disputed Border Sections In Nagorno-Karabakh: Recently, Armenia and Azerbaijan came to a deal on several border areas in the Nagorno-Karabakh region that were being disputed. This agreement is a big step toward ending problems that have been going on for decades. Background of the Conflict ..
4. California Town Campo Listed For Sale At $6.6 Million: Campo is a small town in California. Its owner, Las Vegas real estate investor John Ray, has put it up for sale for $6.6 million. The sale includes more than 20 buildings, both residential and business, and is close to
OTHER UPDATES:
SPORTS
1. Nandini dairy to sponsor for Scotland for T20 World Cup: Scotland cricket team has unveiled its new ICC T20 World Cup jersey with Karnataka Milk Federation’s (KMF) Nandini logo. The Nandini logo is featured in the leading arm of the jersey in both English and Kannada. The jersey was launched in Edinburgh by members of the playing squad. The Nandini brand, which is a household name in Karnataka, is sponsoring Scotland and Ireland teams in the forthcoming T20 World Cup. The tournament is set to begin from June 2 in the West Indies and the USA.
2. Sunil Chhetri Announces His Retirement: The leader of the Indian national football team, Sunil Chhetri, has said that he is retiring. One of India’s most famous football players’ long and successful career comes to an end with this important event. Sunil Chhetri is a professional ..
3. Brazil to Host 2027 Women’s World Cup Soccer: The 2027 FIFA Women’s World Cup will be held in Brazil. This is a big deal in the world of international women’s football. Brazil will be hosting this prestigious event for the first time. It will be a chance to ..
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. UN revises India’s 2024 growth forecast to 6.9%: The United Nations (UN) has revised India’s growth projections for 2024 and expects the economy to grow by 6.9% for FY24. According to the UN’s World Economic Situation and Prospects (WESP) report, India’s economy is now forecast to grow by 6.9% in 2024. This is an increase from the earlier projection of 6.2% made in January.
The report also predicts a growth rate of 6.6% for 2025, which remains unchanged from the previous forecast.
2. RBI approves appointment of Pradeep Natarajan as IDFC FIRST Bank: The Reserve Bank of India (RBI) has approved the appointment of Pradeep Natarajan as Whole Time Director on the Board of IDFC FIRST Bank for three years. IDFC FIRST Bank had reported a net profit of Rs 724 crore for the fourth quarter ended March 2024. The bank’s gross Non-Performing Assets (NPAs) reduced to 1.88 per cent of gross advances as of March 31, 2024, from 2.51 per cent by the end of March 2023.
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