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News in Short

News in Short - 08-June-2021

Jeff Bezos to fly to space

Date: 08 June 2021 Tags: Honours & Awards
  • Amazon's billionaire founder Jeff Bezos and his brother Mark will fly on the first crewed space flight from his rocket company Blue Origin.
  • The Blue Origin spacecraft, which is set to carry Bezos and others, has undergone 15 test flights, none of which had any passengers onboard.
  • Its New Shepard rocket-and-capsule combo is designed to autonomously fly six passengers more than 62 miles (100 km) above Earth into suborbital space, high enough to experience a few minutes of weightlessness and see the curvature of the planet before the pressurized capsule returns to earth under parachutes.
  • The capsule features six observation windows and are nearly three times as tall as those on a Boeing 747 jetliner and the largest ever used in space.

Hitendra Dave appointed HSBC India CEO

Date: 08 June 2021 Tags: Appointments & Resignations
  • The Hong Kong and Shanghai Banking Corporation Ltd. (HSBC) announced the appointment of Hitendra Dave as Chief Executive Officer of HSBC India subject to receipt of regulatory approval.
  • Mr. Dave succeeds Surendra Rosha who is moving to Hong Kong as the Co-Chief Executive of HSBC, Asia-Pacific.
  • Formerly Head of Global Banking & Markets of HSBC India, Mr. Dave has almost 30 years work experience in the Indian Financial Markets, including 20 years with the HSBC.
  • India is the third largest contributor to HSBC’s Group profits with Hong Kong and Mainland China being the top two contributors.

G7 nations agree on uniform corporate tax

Date: 08 June 2021 Tags: Miscellaneous
  • Finance ministers from the Group of Seven (G7) rich nations reached a landmark accord on backing the creation of a global minimum corporate tax rate of at least 15 percent in an effort to close cross-border tax loopholes used by some corporations.
  • Income from intangible sources such as drug patents, software and royalties on intellectual property has migrated to these jurisdictions, allowing companies to avoid paying higher taxes in their traditional home countries.
  • The G7 hopes to reach a final agreement at the expanded G20 finance ministers group. If a broad consensus is reached, it will be extremely hard for any low-tax country to try and block an agreement.

More antibodies produced by covishield than covaxin

Date: 08 June 2021 Tags: Miscellaneous
  • The Covishield vaccine produced more antibodies than Covaxin, according to a preliminary study by Coronavirus Vaccine-induced Antibody Titre (COVAT).
  • Seropositivity rates to anti-spike antibody were significantly higher in Covishield recipients compared to Covaxin after the first dose.
  • It said that both vaccines - Covishield and Covaxin - elicited a good response after two doses, but seropositivity rate and median anti-spike antibody were significantly higher in Covishield.

Former Mauritius Prime Minister Anerood Jugnauth passes away

Date: 08 June 2021 Tags: Obituaries
  • The former prime minister of Mauritius, Anerood Jugnauth, who is credited with steering the island nation’s economic transformation as its longest-serving leader, has died aged 91.
  • Elected prime minister for the first of six times in 1982, Jugnauth would also serve two terms in the ceremonial role of president during a 35-year career.
  • He resigned in 2017 and handed the reins to his son Pravind, the country’s serving prime minister, who won a subsequent five-year term at the ballot box in 2019.