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News in Short

News in Short - 08-March-2021

Muthoot Group chairman George Muthoot passes away

Date: 08 March 2021 Tags: Obituaries
  • M.G. George Muthoot, chairman of the Muthoot Group and former lay secretary of the Malankara Orthodox Syrian Church, died in New Delhi. He was 71.
  • He was listed as the 26th richest person in India by the Forbes Magazine in 2020. He also served as a member of the National Executive Committee of the FICCI.
  • After graduating from the Manipal Institute of Technology with a degree in mechanical engineering, Muthoot joined the family business as an office assistant and in 1979 he became the managing director and group chairman in February 1993.

Opec ignores India’s call for increasing oil production

Date: 08 March 2021 Tags: Basics of Economics
  • International oil prices rose after OPEC and its allies ignored India's plea to ease production control.
  • Brent crude rose nearly 1 % a barrel after the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, agreed not to increase supplies in April awaiting more substantial recovery in demand.
  • Retail petrol and diesel prices, which already are at historic highs, should rise if the oil companies decide to pass on the surge in international oil prices to consumers.
  • India imports about 85 % of its oil needs and local retail rates are benchmarked to international prices.

Javelin thrower Neeraj Chopra breaks National record

Date: 08 March 2021 Tags: Sports
  • Javelin thrower Neeraj Chopra set a new national record in the third leg of the Indian Grand Prix in Patiala.
  • Chopra made an impact with a record throw of 88.07 meters to break his own national record by one centimetre.
  • Chopra had set the previous record at 88.06m during his gold-medal winning throw at the 2018 Asian Games in Jakarta, Indonesia.
  • Chopra's throw is also the best by any athlete this year with the previous best being 87.27m by Johannes Vetter of Germany.

Pakistani PM Imran Khan wins trust vote in National Assembly

Date: 08 March 2021 Tags: Miscellaneous
  • Pakistan Prime Minister Imran Khan won a trust vote in the National Assembly amid a boycott call by the Opposition parties.
  • Prime Minister Khan secured 178 votes in the 342-member lower house of Parliament during a special session convened on the directives of President.
  • The floor test took place without the Opposition as the Pakistan Democratic Movement (PDM) – an alliance of 11 parties – boycotted the voting.
  • Khan had decided to take a vote of confidence in the lower house of Parliament after his finance minister Abdul Hafeez Shaikh was defeated in the closely-fought Senate election.

India defeats England to reach finals of World Test Championship

Date: 08 March 2021 Tags: Sports
  • India finished on top of the league phase of the ICC World Test Championship standings after crushing England by an innings and 25 runs in the fourth and final Test to pocket the series 3-1.
  • In the ICC World Test Championship final scheduled to be held at the iconic Lord's in June this year, India will face New Zealand.
  • New Zealand finished in the second spot with 420 points, including seven wins and four losses. Australia finished third with 332 points ahead of England and Pakistan.