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News in Short

News in Short - 29-May-2020

Ola electric acquires Etergo

Date: 29 May 2020 Tags: Services
  • Ola Electric Mobility (OEM) said it has acquired Amsterdam-based Etergo BV, a move that will help the Indian firm foray into the global premium electric two-wheeler market.
  • Ola Electric, without disclosing the deal value, said it aims to launch its electric two-wheeler in India in 2021, and the acquisition of Etergo will further bolster OEM’s engineering and design capabilities.
  • Founded in 2014, Etergo has developed an all-electric ‘AppScooter’ that uses swappable high energy density batteries to deliver a range of up to 240 km.

US strips Hong Kong of special trading status

Date: 29 May 2020 Tags: Miscellaneous
  • U.S. Secretary of State Mike Pompeo declared that Hong Kong no longer enjoys the autonomy promised by Beijing, stripping the financial hub of its special status under U.S. law.
  • Under a law passed last year by Congress aimed at supporting Hong Kong’s pro-democracy movement, the administration has to certify that the territory is still autonomous to enjoy its separate status with the U.S. for trading purposes.
  • The Chinese legislature is expected to move forward on a law that would ban “sedition” and other perceived offences. Hong Kong activists say that the law effectively abolishes the basic freedoms enjoyed in the financial hub.

Trump offers to mediate between India and China on LAC

Date: 29 May 2020 Tags: India & World
  • U.S. President Donald Trump said that he had offered to help New Delhi and Beijing resolve their ongoing tensions at the Line of Actual Control (LAC).
  • Trump’s offer comes at a time when the U.S. and China themselves have tensions between them on several fronts including Hong Kong.
  • In addition to an uneasy trade situation between the two, the U.S. has accused China of not being transparent with information in relation to the COVID-19 pandemic.

Himachal Pradesh BJP chief resigns

Date: 29 May 2020 Tags: Appointments & Resignations
  • BJP’s Himachal Pradesh state unit president Rajeev Bindal resigned from his post amidst allegations of corruption in the procurement of medical supplies for the COVID-19 pandemic.
  • The resignation comes a week after health services director Ajay Kumar Gupta was arrested on May 20 by the State Vigilance and Anti Corruption Bureau after a 43-second audio clip went viral, in which he purportedly asks the other person for a bribe of ? 5 lakh.
  • Bindal, a five-time MLA, is a graduate of ayurvedic medicine and surgery (GAMS), and was elected MLA from Solan thrice and is currently serving a second term from Nahan.

Nepal government postpones bill on new map

Date: 29 May 2020 Tags: India & World
  • The Nepal government’s move to bring in a constitution amendment Bill to give legal sanctity to its new map following a territorial spat with India has been deferred for the time being.
  • The government of Prime Minister K P Sharma Oli failed to table the scheduled Bill in Nepal’s parliament owing to differences within the ruling party and more time being sought by the main Opposition.
  • India’s new road from Dharchula to Lipulekh as part of the Mansarovar Yatra route angered the Oli government which decided to come out with a new map.