News in Short

• The People's Bank of China increased its stake in Housing Development Finance Corp Ltd (HDFC.NS) to 1.01% from 0.8%.
• China's central bank held about 17.5 million shares in HDFC, as of March-end, according to quarterly data filed to exchanges by India's biggest mortgage lender.
• China-backed funds are seeking to buy Indian financial assets after the Covid-19 outbreak caused a major slump in the valuation of local companies.

• Veteran Congress leader and former Union minister M V Rajasekharan passed away in Bengaluru after prolonged illness. He was 91.
• He represented Kanakapura constituency in Lok Sabha. He was known for value-based politics and had served as the Union minister of state of planning and statistics.
• He was son in law of former Chief Minister S Njalingappa and was an authority on rural economy, who had set up an institute to make studies on rural development.

• GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Ltd, announced that it has received the Letter of Award (LoA) for the development and operations of a greenfield international airport at Bhogapuram in Andhra Pradesh from the State government.
• The project involves design, build, finance, construction, development, up-gradation, modernization, operation and maintenance of the airport at Bhogapuram for a period of 40 years, extendable by additional 20 years through an international competitive bidding process.
• The proposed greenfield airport site lies on the border of Visakhapatnam and Vizianagaram districts, and is approximately 45 km from Visakhapatnam and 25 km from Vizianagaram.

• Stirling Moss, the Englishman regarded as the greatest Formula One driver never to win the world championship, has died. He was 90.
• A team mate at Mercedes to Argentine five-times world champion Juan Manuel Fangio, the Briton survived one of the deadliest eras of motorsport with 16 grand prix wins in the 1950s and early 1960s.
• Moss was also the first Briton to win his home grand prix, beating Fangio at Aintree in 1955, and became a byword for speed.

• The first indications have emerged that rapid testing could indeed be helping in slowing down the spread of COVID-19 disease in the country.
• Scientists have observed a slight, but “noticeable”, flattening of the growth curve starting April 6, an indication that the reduced contact between people as a result of the lockdown could be showing its desired effect.
• All measures that provide few opportunities for the virus to spread must be continued, which not only limit any individual's infection hazard, but also protect the entire community.