By: D.K Chaudhary
1. India To Operate ‘World’s Emptiest Airport’ In Sri Lanka
i. The Mattala Rajapaksa International Airport (MRIA) would be operated as a Sri Lanka-India joint venture. The $210 million facility, 241km south-east of Colombo, is dubbed the “world’s emptiest airport” due to a lack of flights.
ii. India would operate the airport as a Sri Lanka-India joint venture. The joint venture would see India gain a major stake of the airport.
ii. India would operate the airport as a Sri Lanka-India joint venture. The joint venture would see India gain a major stake of the airport.
- Sri Lanka Capitals- Colombo, Sri Jayawardenepura Kotte, President- Maithripala Sirisena.
2. Mark Zuckerberg Becomes World’s 3rd-Richest Person
i. Facebook Inc. co-founder Mark Zuckerberg has overtaken Warren Buffett as the world’s third-richest person. Zuckerberg, who trails only Amazon.com Inc. founder Jeff Bezos and Microsoft Corp. co-founder Bill Gates, eclipsed Buffett as Facebook shares climbed 2.4%, according to the Bloomberg Billionaires Index.
ii. It’s the first time that the three wealthiest people on the ranking made their fortunes from technology.
ii. It’s the first time that the three wealthiest people on the ranking made their fortunes from technology.
3. HDFC Bank, Most Valuable Bank In Emerging Market Outside China
i. HDFC Bank has gone past Russia’s Sberbank to become the most valuable bank in the emerging market outside China. HDFC Bank’s current market capitalisation is $78.4 billion against Sberbank’s $74.4 billion. Chinese banks are leading the pecking order in the emerging market, with Industrial & Commercial Bank of China topping the list with a market cap of $273.4 billion.
ii. Globally, America’s JPMorgan Chase is the most valuable with a market cap of $353 billion, followed by Bank of America at $282 billion. There are four lenders from India that now rank among the world’s 500 most valuable companies. HDFC Bank is followed by its housing finance cousin Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank and State Bank of India.
ii. Globally, America’s JPMorgan Chase is the most valuable with a market cap of $353 billion, followed by Bank of America at $282 billion. There are four lenders from India that now rank among the world’s 500 most valuable companies. HDFC Bank is followed by its housing finance cousin Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank and State Bank of India.
- HDFC Bank- India’s largest private bank by market capitalization.
- HDFC Bank Chairman- Aditya Puri, Headquarters- Mumbai.
- Reserve Bank of India labelled HDFC Bank as ‘domestic systematically important bank’ – in other words, ‘too big to fail’.
4. RIL Becomes India’s Largest Tax Payer In Private Sector
i. Reliance Industries Chairman Mukesh Ambani at the Reliance Industries’ 41st Annual General Meeting announced that Reliance is India’s largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector paying Rs.9844 crore in FY18.
ii. Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion.
ii. Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion.
5. Justice Adarsh Kumar Goel Appointed NGT Chairperson
i. Justice Adarsh Kumar Goel, who retired from the Supreme Court of India has been appointed as the new Chairperson of the National Green Tribunal (NGT). He has been appointed to the position for a term of five years, as per an order issued by the personnel ministry.
ii. The post of NGT chairperson had been lying vacant for more than 6 months after the retirement of Justice Swatanter Kumar.
ii. The post of NGT chairperson had been lying vacant for more than 6 months after the retirement of Justice Swatanter Kumar.
- The National Green Tribunal was established on October 18, 2010 under the National Green Tribunal Act 2010 for effective
- and expeditious disposal of cases relating to environmental protection and conservation of forests and other natural resources.
