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News in Short

News in Short - 14-April-2020

China Central Bank raises stake in HDFC bank

Date: 14 April 2020 Tags: Miscellaneous
  • 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 M.V.Rajasekharan dies

Date: 14 April 2020 Tags: Obituaries
  • 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 to develop Bhogapuram airport

Date: 14 April 2020 Tags: Infrastructure
  • 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.

Motor racing great Stirling Moss dies

Date: 14 April 2020 Tags: Obituaries
  • 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.

COVID-19 growth curve in India flattening

Date: 14 April 2020 Tags: Disaster & Disaster Management
  • 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.