Core sector growth dips to a 10-month low of 3.6% in May
The growth of eight infrastructure industries dropped to a 10-month low of 3.6 percent in May due to a decline in production of crude oil and natural gas. The eight sectors, which also include coal, refinery products, fertilizers, steel, and cement, had expanded by 3.9 percent in May 2017, according to the data released by the commerce and industry ministry today. This is the lowest growth rate since July 2017 when infrastructure industries had expanded by 2.9 percent. The growth rate in April was 4.6 percent.
India’s seafood exports cross $7 billion
Striking a new high in export performance, India’s shipment of 13,77,244 MT of seafood earned US$ 7.08 billion during the financial year 2017-18, with frozen shrimp and frozen fish continuing to be the flagship export items, as compared to figures of 11,34,948 MT and 5.77 billion dollars, respectively in the preceding fiscal, registering a growth of 21.35%. In rupee terms, the exports of marine products were pegged at Rs 45,106.89 crore as against Rs 37,870.90 crore in FY 2016-17, notching a healthy growth of 19.11%. The USA and South East Asia retained their positions as the major import markets of India’s seafood products, with a share of 32.76% and 31.59% in dollar terms, respectively, followed by EU (15.77%), Japan (6.29%), Middle East (4.10%) and China (3.21%).
Retail inflation for industrial workers remains flat at 3.96 percent in May
Retail inflation for industrial workers remained flat at 3.96 percent in May compared to 3.97 percent in April this year, a Labour Ministry statement said. According to the statement, the food inflation based on CPI-IW (Consumer Price Index-Industrial Workers) stood at 1.66 percent in May against 1.33 percent in the previous month and (-) 1.63 percent during May 2017.
NSE signs partnership agreement with NASDAQ
The National Stock Exchange of India (NSE) and NASDAQ have signed an agreement whereby Nasdaq would deliver a customized real-time clearing, risk management, and settlement technology to the NSE. In addition to the post-trade agreement, Nasdaq has also signed an agreement with NSEIT to utilize NSEIT’s capability in implementations and project augmentation globally. Further, the two exchanges signed a memorandum of understanding (MoU) to explore business opportunities across listings, corporate and market services and data and innovations in products, processes, and technology. NASDAQ is an acronym for the National Association of Securities Dealers Automated Quotations which headquartered at New York.
NSE Headquarters: Mumbai
CEO: Vikram Limaye
Arijit Basu takes charge as managing director of SBI
The country’s largest lender, State Bank of India (SBI) on 2nd June said Arijit Basu has taken charge as managing director (MD) of the bank. Basu will be in charge of commercial credit and IT, and will also hold additional charge of stressed assets resolution group, the bank said in a statement. He will fill in the post vacated by Rajnish Kumar, who has been elevated as the chairman of the bank.
Saraswati Prasad assumes charge as SAIL CMD
The government recently appointed senior IAS officer Saraswati Prasad as the new chairman and managing director of SAIL. Prasad, who is the special secretary and financial advisor in the steel ministry, has been given additional charge of SAIL CMD on the retirement of incumbent P K Singh.
Journalist Rajat Sharma is new DDCA boss
Senior journalist Rajat Sharma beat World Cup winning India cricketer Madan Lal by 517 votes to become the new president of Delhi and Districts Cricket Association. The results of the DDCA polls were announced on Monday and Sharma’s group swept the elections winning all 12 seats.
Rahul Dravid inducted into ICC Hall of Fame
Former cricketer and India U-19 cricket team head coach Rahul Dravid was formally inducted into the ICC Hall of Fame here on Sunday (local time). He is the fifth Indian to be inducted to the prestigious group that includes cricketing legends such as Sunil Gavaskar, Bishan Singh Bedi, Kapil Dev and Anil Kumble.
Major General Vikram Dogra completes Ironman Triathlon
Major General Vikram Dogra has become the first Indian Army officer to complete the Ironman Triathlon event, considered one of the most difficult one-day sporting events in the world, in Austria, the army has claimed. The Ironman Triathlon comprises three consecutive events 3.8 km swim, 180 km cycling and 42.2 km marathon — all completed in a day without a break.
Max Verstappen wins Austrian Grand Prix
Red Bull F1’s Max Verstappen redeemed himself after commandeering the lead mid-way through the Austrian Grand Prix and finishing atop the podium. Despite an all-Mercedes front row at the beginning of the race, Verstappen capitalized on Valtteri Bottas’ and Lewis Hamilton’s tribulations to gain his first GP victory since Mexico in 2017.
Lopez Obrador wins Mexico’s Presidential Election
Andres Manuel Lopez Obrador was elected as Mexico’s first left-wing president in recent times, riding a public revolt against rampant crime, corruption, and poverty and handing a crushing defeat to the business-friendly parties who’ve run the country for decades.
Capital: Mexico City
Currency: Mexican peso
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Olympics 2024 Venue – Paris
Bhimbandh Wildlife Sanctuary – Bihar