India climbs to 3rd spot on EY index
India has moved a notch higher at the third spot on EY’s Renewable Energy Country Attractiveness Index due to exceptional performance on the solar photovoltaic (PV) front. India has moved one position above (3rd) from the previous index (4th), this is primarily because of the exceptional performance on the solar PV front.
The US retains the top position on RECAI 57, China has remained a buoyant market and maintains the second position. India also committed to setting up 450 GW for renewable energy power capacity (installed) by 2030 in the recent climate summit hosted by the US.
India is the 2nd largest insurance-technology market in Asia-Pacific
India is the second-largest insurance technology market in Asia-Pacific and accounts for 35 per cent of the $3.66 billion insurtech-focused venture capital invested in the region, according to S&P Global Market Intelligence data. The data showed that at least 335 private insurtechs are operating in Asia-Pacific, with about 122 of them disclosing $3.66 billion in aggregate capital raised via private placement deals.
China and India are collectively home to nearly half of private insurtech companies in the APAC region and attracted about 78 per cent of the investments. Insurance technology investors are attracted to India since it is one of the fastest-growing insurance markets in the world.
DNA sequencing pioneers from Cambridge win 1 million euro tech Nobel prize
Two British chemists who developed a super-fast DNA sequencing technique that paved the way for revolutionary healthcare advances were awarded Finland’s version of the Nobel science prizes. Cambridge University professors Shankar Balasubramanian and David Klenerman took home the 1 million euro ($1.22 million) Millennium Technology Prize for their work over 27 years creating ever faster and cheaper ways to sequence the human genome.
The pair’s Next-Generation DNA Sequencing technology (NGS) “means huge benefits to society, from helping the fight against killer diseases such as Covid-19 or cancer to better understanding crop diseases and enhancing food production,” the Technology Academy Finland, which awards the biennial prize.
About the award:
The Finnish Millennium Technology Prize, founded in 2004, singles out innovations that have practical applications and which “enhance the quality of people’s lives.” It aims to be a technology equivalent of the Nobel science prizes, which have been criticised by some for focusing too much on traditional, decades-old scientific research.
Google floats News Showcase in India with top publishers
Google has announced the launch of its global licensing programme News Showcase in India. Google has sealed agreements with 30 Indian publishers to offer access to some of their content. Amid mounting pressure from the global media fraternity asking for a fair price and advertising share from technology platforms.
In February, the Indian Newspaper Society (INS) had also asked search engine Google to compensate newspapers for the use of content published by them and sought a larger share of its advertising revenue. The content from these publishers will begin to appear in dedicated News Showcase story panels in Google News and on Discover pages in English and Hindi. The support for more local languages will be added in the future. It will also pay participating news organizations to give readers access to a limited amount of paywalled content.
About the Showcase:
Showcase pays news publishers for their content online and also allows partnering publishers to provide limited access to pay-walled stories for users. Showcase, which is live in more than 12 countries working with over 700 publishers, is a part of Google’s $1 billion investment towards supporting quality journalism.
Important takeaways for all competitive exams:
- Google CEO: Sundar Pichai.
- Google Founded: 4 September 1998, California, United States.
- Google Founders: Larry Page, Sergey Brin.
India’s Adani Green to buy SoftBank-backed SB Energy in $3.5 billion deal
Indian renewable energy company, Adani Green Energy Ltd (ADNA.NS) would buy SoftBank Group Corp-backed (9984.T) SB Energy Holdings Limited for an enterprise value of $3.5 billion. It would buy the 80% stake held by SoftBank Group Capital Limited and the rest owned by Indian conglomerate Bharti Global Limited in a cash deal. The deal would allow Adani Green to achieve its targeted renewable portfolio of 25 gigawatts (GW) four years ahead of its expected timeline.
Important takeaways for all competitive exams:
- Adani Group Founder: Gautam Adani;
- Adani Group Founded: 20 July 1988;
- Adani Group Headquarters: Ahmedabad.
World Metrology Day observed globally on 20th May
World Metrology Day is observed globally on 20th May every year. Many nations on this day, internationally collaborate to create awareness about metrology and its advancement in the respective field. The theme for World Metrology Day 2021 is Measurement for Health. This theme was chosen to create awareness of the important role measurement plays in health, and thus in the wellbeing of every one of us.
History of the World Metrology Day:
World Metrology Day is an annual celebration of the signature of the Metre Convention on 20 May 1875 in Paris, France by representatives of seventeen nations. The World Metrology Day project is realized jointly by the International Organization of Legal Metrology (OIML) and Bureau International des Poids et Mesures (BIPM).
Important takeaways for all competitive exams:
- International Organization of Legal Metrology Headquarters: Paris, France.
- International Organization of Legal Metrology Founded: 1955.
West Bengal government approved setting up of Legislative Council
The West Bengal cabinet, chaired by Chief Minister Mamata Banerjee, has approved the formation of the Legislative Council. At present, only Andhra Pradesh, Karnataka, Telangana, Maharashtra, Bihar, and Uttar Pradesh have Legislative Council. Previously, West Bengal had a bicameral legislature but it was abolished by the United Front government in 1969.
About the State Legislative Council:
- The State Legislative Council is the Upper house of the state legislature.
- It is established under Article 169 of the Indian Constitution.
- The size of the State Legislative Council cannot be more than one-third of the members of the State Legislative Assembly.
- Parliament of India can create or abolish the State Legislative Council of a state if that state’s legislature passes a resolution for that with a special majority.
Important takeaways for all competitive exams:
- Chief Minister of West Bengal: Mamata Banerjee; Governor: Jagdeep Dhankhar.
CCI approves sale of YES Bank’s MF subsidiaries to GPL Finance
Competition Commission of India (CCI) has approved the acquisition of YES Asset Management (India) Limited (YES AMC) and YES Trustee Limited (YES Trustee) by GPL. GPL Finance and Investments Limited (GPL) will acquire 100% equity shares of YES AMC and YES Trustee.
GPL will acquire Yes Mutual Fund and become its sole sponsor. It is registered with the Reserve Bank of India as a non-deposit taking and non-systemically important Non-Banking Financial Company (NBFC). GPL is classified as an investment company. It is part of White Oak Group, an investment management and investment advisory group founded by Mr Prashant Khemka. YES AMC and YES Trustee belong to YES Bank Limited group. YES AMC acts as an asset management company/investment manager to YES Mutual Fund.
Important takeaways for all competitive exams:
- YES bank HQ: Mumbai, Maharashtra.
- YES bank MD & CEO: Prashant Kumar.
National Gallery of Modern Art launched Audio-Visual Guide App
On the occasion of International Museums Day 2021, the National Gallery of Modern Art (NGMA) has launched the Audio-Visual Guide App. The app will enable museum viewers to listen to anecdotes and stories related to the Indian modern art exhibited at the Gallery. It has been launched to provide a better way of viewing the museum to visitors. International Museums Day is observed every year on 18 May.
National Gallery of Modern Art:
- It was founded in 1954.
- It is the premier art gallery under the Ministry of Culture.
- It has a collection of art of more than 2000 artists.
Important takeaways for all competitive exams:
- Minister of State (IC) of the Ministry of Culture: Prahalad Singh Patel.
Asia Cup 2021 postponed indefinitely due to COVID-19
The Asia Cup T20 tournament, which was scheduled to be held in June in Sri Lanka, has been postponed indefinitely due to the Covid-19 pandemic. The tournament which was originally scheduled to be held in September 2020 in Sri Lanka was moved to June 2021 due to COVID-19.
With all the teams planning for their Future Tour Programs (FTPs) for the next two years, the tournament is likely to happen only after the 2023 ICC 50-over World Cup. A formal statement from the Asian Cricket Council is, however, yet to come. Initially, Pakistan was supposed to host it. However, due to tensions between India and Pakistan, the tournament was moved to the island nation.
China successfully launches new ocean observation satellite Haiyang-2D
China has successfully sent a new ocean-monitoring satellite into orbit as part of its effort to build an all-weather and round-the-clock dynamic ocean environment monitoring system that would provide early warning on marine disasters. The satellite was launched by a Long March-4B rocket carrying the Haiyang-2D (HY-2D) satellite from the Jiuquan Satellite Launch Centre in northwest China.
About the satellite:
- The HY-2D will form a constellation with the HY-2B and HY-2C satellites to build an all-weather and round-the-clock dynamic ocean environment monitoring system of high frequency and medium and large scale.
- The HY-2D was developed by the China Academy of Space Technology, and the carrier rocket by the Shanghai Academy of Spaceflight Technology.
- China’s space programme made significant advancements last week when it landed a spacecraft on Mars, becoming the second country after the United States to have a rover on the red planet.
Important takeaways for all competitive exams:
- China National Space Administration Founded: 22 April 1993;
- China National Space Administration Administrator: Zhang Kejian;
- China National Space Administration Headquarters: Haidian District, Beijing, China.
