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News in Short

News in Short - 03-November-2019

India plans to open 100 new airports in next 5 years

Date: 03 November 2019 Tags: Infrastructure
  • India is planning to open 100 additional airports by 2024, as part of a plan to revive economic growth in Asia’s third-largest economy.
  • With economic activity at a six-year low and prospects of further slowdown looming, the government is keen to double down on infrastructure projects in a bid to revive growth and achieve a target of making India a $5 trillion economy by 2025.
  • The Indian government has committed investments of 1 trillion rupees to build airports in the next 5 years and plans to have 450 functional airports by 2035.

Lebanon PM resigns

Date: 03 November 2019 Tags: Appointments & Resignations
  • Lebanon's Prime Minister Saad Hariri announced his resignation, succumbing to the demands of protesters who have staged nationwide demonstrations for nearly two weeks.
  • The three-time prime minister has led a national unity government. In recent months, the country saw rapid economic deterioration, ballooning debt and rising prices.
  • The government had proposed imposing a tax on Whatsapp calls, along with other austerity measures, sparking protests that paralyzed the country.

Fosun group to buy Thomas Cook brand

Date: 03 November 2019 Tags: Services
  • Fosun, the Chinese conglomerate, has acquired Thomas Cook’s brand and its intellectual property assets for £11m.
  • The Fosun plans on acquiring the Thomas Cook name, related operations such as its upmarket Casa Cook and Cook’s Club brands, and other intellectual property such as domain names, apps, social media and IP addresses.
  • Fosun was part of the group of lenders and bondholders that sought to put together a £900m rescue package that would have saved Thomas Cook in September.

Former Karnataka minister Vaijnath Patil passes away

Date: 03 November 2019 Tags: Obituaries
  • Former Karnataka minister and noted social leader who fought for special status to the Kalyana Karnataka (Hyderabad-Karnataka) region, Vaijanath Patil passed away in Bengaluru.
  • Patil had served as Horticulture minister in then CM Ramakrishna Hegde’s cabinet in 1984 and later held the portfolio of Urban Development department in HD Deve Gowda cabinet in 1994. 
  • He was key to the Constitutional amendment that offered special status to Kalyana Karnataka (erstwhile Hyderabad Karnataka) region by inserting Article 371 (J).

IIT Delhi to partner with ISRO to set up space technology cell

Date: 03 November 2019 Tags: Space
  • Authorities have announced that IIT Delhi and ISRO will jointly set up ISRO Space Technology Cell at IIT Delhi.
  • The cell will work for carrying out focused research projects in the space technology domain with specific deliverables.
  • It also proposed that IIT Delhi as an institute becomes academic partner of ISRO in research areas such as AI, nanotechnology, functional textiles, smart manufacturing etc.