Daily Current Affairs- 10th May 2024

Daily Current Affairs- 10th May 2024

INTERNATIONAL

India – France Joint Military Exercise Shakti 2024 to be held in Meghalaya

• Joint military Exercise Shakti between the Indian and the French forces will be held at the Joint Training Node of the Indian Army in Umroi, Meghalaya, from 13 -26 May 2024. The opening ceremony of the 7th edition of Exercise Shakti will be attended by the French Ambassador to India, Thierry Mathou. Brigadier Mayur Shekatkar, Commander of the 24 Mountain Brigade, and other civilian and military dignitaries,
• Emphasis will be on developing an understanding of operations, and building shared knowledge, awareness, and familiarity with each other's operational procedures. 

Climeworks opens world's largest plant to extract CO2 from air in Iceland

• Climeworks has opened the world’s largest operational direct air capture (DAC) plant to suck carbon dioxide out of the atmosphere, with its Mammoth plant in Iceland almost ten times larger than the current record holder.
• Worsening climate change and inadequate efforts to cut emissions have led U.N. scientists to estimate billions of tons of carbon must be removed from the atmosphere annually to meet global climate goals. 

NATIONAL

India’s first utility-scale, standalone storage project gets regulatory nod

• The Delhi Electricity Regulatory Commission (DERC) has granted regulatory approval to India’s first commercial standalone battery energy storage system (BESS) project.
• The project is being developed by BSES Rajdhani Power (BRPL) in partnership with IndiGrid and the Global Energy Alliance for People and Planet’s (GEAPP). It is supported by GEAPP’s concessional loan, covering 70% of the total project cost. 

SPORTS

Indian Contingent Bags 43 Medals at ASBC Asian U-22 And Youth Boxing Championships

• In boxing, the Indian contingent wrapped up their electrifying journey at the ASBC Asian U-22 and Youth Boxing Championships with a remarkable haul of 43 medals in Astana, Kazakhstan. This includes 12 gold, 14 silver, and 17 bronze medals from both categories.
• The Indian U-22 team finished with 21 medals, including seven gold, five silver, and nine bronze medals, yesterday, while the youth section bagged 22 medals, including five gold, nine silver, and eight bronze medals, on Monday. India finished with the second-highest medal count, only behind the hosts, Kazakhstan, who have won 48 medals. 

World wrestling body suspends Bajrang Punia until end of 2024

• Wrestling's world governing body (UWW) has suspended Bajrang Punia till the end of this year following NADA's decision to hand him a provisional suspension for refusing to undergo a dope test.
• However, despite being well aware of NADA's order, the Sports Authority of India (SAI) sanctioned close to Rs 9 lakh for his training abroad. Bajrang, one of the country's most successful wrestlers, was suspended by NADA on April 23 after being served a whereabouts failure notice on April 18. 

SCIENCE &TEHNOLOGY

Google launches wallet app in India for Android users

• Tech giant Google announced the launch of the Google Wallet app in India, enabling users to save their travel tickets gift cards and event passes in one place. It however does not support payment features such as saving credit cards or debit cards in the wallet for on-tap payments.
• This Wallet app offers fast and secure access to everyday essentials, enabling people to conveniently store and retrieve important digital documents like boarding passes, loyalty cards, movie tickets, and more. Google Wallet complements Google Pay, which will continue to serve the payments needs of users across India. 

APPOINTMENS & RESIGNATIONS

Mr R Shankar Raman elevated as President of L&T

• Larsen & Toubro is pleased to announce that Mr R Shankar Raman, who has been Sr EVP, Whole-time Director & CFO, is elevated as President, Whole-time Director & CFO with immediate effect.
• Mr Shankar Raman joined L&T Group in November 1994 to set up L&T Finance Limited, a wholly-owned subsidiary. He later assumed the role of the CFO at L&T and was appointed to the Board in October 2011. As CFO of L&T, he plays a pivotal role in shaping the company's financial strategy, driving growth initiatives, and ensuring financial sustainability in a dynamic business environment. He is widely respected in the industry for his professionalism, integrity, and dedication to excellence. 

IMPORTANT DAYS

World Lupus Day

• World Lupus Day is observed every year on May 10 to raise awareness about this chronic autoimmune disease and to show support for those who are living with it. This day was first observed in 2004 and has since then become an important date in the calendar for lupus awareness.
• Lupus is an autoimmune disease makes your body's immune system attack your own tissues and organs due. This inflammation can affect joints, skin, kidneys, blood cells, brain, heart and lungs. 

International Day of Argania

• Every year on May 10, people worldwide celebrate the International Day of Argania. This special day celebrates the Argan tree, an ancient species that has grown in Morocco for about 80 million years. These trees are not just old; they play a crucial role in the local economy and environment.
• This unique region, where argan trees have been cultivated for centuries, combines agricultural biodiversity, resilient ecosystems, and valuable cultural heritage. For that reason, it has received recognition and protection from various UN entities. 

SUMMIT'S & MOU's

ICG and Hindalco Industries signes MoU for supply of indigenous marine-grade aluminum for construction of ships

• Indian Coast Guard (ICG) and Hindalco Industries, on May 09, 2024, inked a Memorandum of Understanding (MoU) in New Delhi for the manufacturing and supply of indigenous marine-grade aluminium to Indian public and private shipyards for the construction of ships. The MoU will also provide benefits such as quarterly pricing, priority in supplies and Turnover discount.
• The ICG fleet is presently operating 67 ships with aluminium hull with capability of operating in shallow waters. To further boost coastal security, it has planned to induct more such vessels where the indigenously manufactured marine-grade aluminium will be utilised.

 RANKING

India surpassed Japan to become 3rd largest solar power generator in 2023

• India's rapid solar energy deployment has pushed it past Japan to become the third-largest solar power generator in the world in 2023. India was ranked ninth in solar energy deployment in 2015 by global energy think tank Ember.
• In 2023, solar energy accounted for 5.5 percent of global electricity production. Following the global trend, India generated 5.8 per cent of its electricity from solar last year, Ember's "Global Electricity Review" reported. 

BANKING AND ECONOMY

YES BANK and EBANX announce strategic partnership to empower cross-border commerce in India

• YES BANK and EBANX announced a strategic partnership for payment processing in India, for the global digital economy. This collaboration represents a significant milestone in the digital payments landscape, aimed at streamlining cross-border payment processing and enhancing global commerce opportunities for global merchants and Indian customers in India.
• This partnership will leverage EBANX’s extensive global experience and proficiency in cross-border payments alongside YES BANK’s digital prowess, to provide global merchants with seamless access to a suite of scalable payment solutions, crafted within an innovative business architecture framework and aligned with the latest regulatory guidelines. 

Bharti Enterprises sells stake of ICICI Lombard General Insurance worth Rs. 663 Crore and more

• Bharti Enterprises sold 38.5 lakh ICICI Lombard General Insurance shares at an average price of Rs 1,722.5 per share, totalling Rs 663 crore.
• Axis Mutual Fund (MF), Aditya Birla Sun Life MF, Invesco MF, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs Singapore and Blackstone Aqua Master Sub-Fund acquired shares of Mumbai-based general insurer, ICICI Lombard shares settled 3.63 percent lower at Rs 1,660 on May 9, Meanwhile, investor Seetha Kumari bought 78,454 shares of Nilkamal Limited at an average price of Rs 1,870.2 per share, totalling Rs 14.67 crore. The stock fell 1.37 percent to Rs 1,865 on Thursday.
• Gopalkumar Bhikhalal Baldha sold 1.14 lakh shares of CMM Infraprojects at an average price of Rs 2.31 per share. The stock fell 2.13 percent to Rs 2.3 on May 9.