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News in Short

News in Short - 18-June-2021

Microsoft names Satya Nadella as Chairman

Date: 18 June 2021 Tags: Appointments & Resignations
  • Microsoft Corp has named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson.
  • Mr. Nadella hadtaken over as CEO in 2014 from Steve Ballmer and has been instrumental in scaling up its business including billion-dollar acquisitions like LinkedIn, Nuance Communications and ZeniMax.
  • The top-level executive change comes just over a year after Mr. Gates stepped down from the board, saying he would focus on philanthropic works of the Bill and Melinda Gates Foundation.

World Wide Web’s source code to be auctionedasNFT

Date: 18 June 2021 Tags: Miscellaneous
  • The World Wide Web’s source code is set to be auctioned as a non-fungible token (NFT) at Sotheby’s.
  • Sir Tim Berners-Lee created the World Wide Web in 1989 and wrote the first web browser in 1990, giving rise to a powerful tool billions of people today use to interact on the Internet.
  • An NFT is a digital asset that exists on a blockchain that serves as a public ledger, allowing anyone to verify the asset’s authenticity and ownership.

President Biden nominates Indian American as federal judge

Date: 18 June 2021 Tags: Appointments & Resignations
  • US President Joe Biden has nominated an Indian-American civil rights attorney Sarala Vidya Nagala as a federal judge in the State of Connecticut.
  • If confirmed by the Senate, she would become the first judge of South Asian descent to serve on the District Court for the District of Connecticut.
  • Nagala is currently serving as the Deputy Chief of the Major Crimes Unit in the US Attorney’s Office in the District of Connecticut, a role she has held since 2017.
  • She joined the US Attorney’s Office in 2012, and has served in a number of leadership roles, including as Hate Crimes Coordinator.

India extends $100mn loan for Sri Lanka

Date: 18 June 2021 Tags: Miscellaneous
  • India and Sri Lanka have signed an agreement for a $100-million loan from the Export Import Bank of India to support the island nation’s efforts to expand solar power coverage.
  • The $100 million line of credit will help finance various projects Sri Lanka’s solar energy sector, including those announced at the founding conference of the International Solar Alliance.
  • The line of credit extended by  for a period of 20 years, with an interest of 1.75 %. Sri Lanka owes about $960 million in debt repayment.

Great power summit between Biden and Putin

Date: 18 June 2021 Tags: Miscellaneous
  • The highly anticipated first summit meeting between President Joe Biden and President Vladimir Putin of Russia ended early and was described by both sides as a series of polite but adamantly stated disagreements.
  • While Biden has begun a crash effort to reduce the vulnerability of American assets, from pipelines to power plants, it is an effort that will take years.
  • Putin, for his part, denied that Russia had been responsible for the range of attacks on the United States such as SolarWinds.