1. Kotak Mahindra acquire ING Vysya
Bank
i. Kotak Mahindra Bank, on Thursday, announced its decision
to acquire ING Vysya Bank in an all-share deal.
ii. Kotak Mahindra Bank informed the BSE after market hours
that the board of directors of the company had
considered and granted its approval
for the amalgamation of ING Vysya Bank with Kotak Mahindra Bank.
iii. The Board has approved the share swap ratio of 725 equity share of Rs. 5 each of Kotak Mahindra Bank for every 1,000 equity shares of Rs. 10 each held in ING Vysya Bank. Post-amalgamations, shareholders of ING Vysya Bank will receive shares of Kotak Mahindra Bank in the aforementioned ratio, resulting in change in shareholding of Kotak Mahindra Bank.’
Note: The last merger to happen in the private sector banking space was in 2010 when Bank of Rajasthan was acquired by ICICI Bank.
iii. The Board has approved the share swap ratio of 725 equity share of Rs. 5 each of Kotak Mahindra Bank for every 1,000 equity shares of Rs. 10 each held in ING Vysya Bank. Post-amalgamations, shareholders of ING Vysya Bank will receive shares of Kotak Mahindra Bank in the aforementioned ratio, resulting in change in shareholding of Kotak Mahindra Bank.’
Note: The last merger to happen in the private sector banking space was in 2010 when Bank of Rajasthan was acquired by ICICI Bank.
2. SBI to lend $ 1 billion to Adani Group
to build Australian coal mine
i. The infrastructure conglomerate, whose
founder, Gautam Adani, has signed a memorandum of understanding for a loan of
up to $1 billion from the SBI for the mine, rail and port project, which it
aims to build by end-2017.
ii. The loan, which
would be one of the largest extended by an Indian bank for an overseas project,
was announced as Mr. Adani was in Brisbane with a business delegation for the
G20 summit, which Mr. Modi attended over the weekend.
3. RBI allows FIIs to buy equity in
Yes Bank
i. The Reserve Bank today said FIIs can
buy equity shares in private lender Yes Bank as shareholding by foreign
investors has gone below the prescribed limit.
ii. The RBI has removed Yes Bank from its
caution list of monitoring foreign investment following the dip in shareholding
by foreign investors below the prescribed limit.
iii. Equity shares of Yes Bank can now be
purchased through primary market and stock exchanges,” it added.
iv.
As per the data
available on the BSE, FIIs held 46.30 per cent in Yes Bank as of quarter ended
September 2014.
4. Exim Bank to set up Rs1,500-cr
fund to assist ship-building industry
i. To give a
boost to ship building in the country, the Export-Import Bank of India (Exim
Bank) is planning to set up a dedicated Rs1,500-crore fund with Government
support.
ii. This proposal comes in the backdrop
of the slump in global demand for ships and boats in 2012 and 2013 and foreign
vessels accounting for a lion’s share (almost 90 per cent) in overseas cargo
traffic handled at Indian ports.
iii. According to an Exim Bank study, the development of a successful ship
building sector has been pivotal to the rapid and robust economic development
in most countries in the world with long coastal boundaries.
iv. Ship building industry has the
potential to significantly contribute to national GDP.
5. Tech Mahindra acquires US based
LCC for $240 million
i. Tech Mahindra Ltd.,
India’s fifth largest software services exporter, has announced that it has
signed an agreement to acquire US-based Lightbridge Communications Corporation
(LCC) for $240 million.
ii. LCC is a global network services
leader. The transaction is expected to close by fourth quarter of Tech Mahindra’s
fiscal year 2015.
iii. Headquartered in McLean, Virginia, LCC is one-of-the
world’s largest independent global providers of network engineering services to
the telecommunications industry, with more than 5,000 employees in over 50
countries, said a statement by Tech Mahindra in Hyderabad on Thursday.
iv. With this acquisition,
Tech Mahindra will also be addressing a rapidly growing market opportunity as
telecommunications companies and enterprises accelerate the network upgrade
cycle.
6. Mozilla Firefox replaces default
Google search engine with Yahoo
i. Yahoo will supplant Google’s search
engine on Firefox’s Web browser in the U.S., signalling Yahoo’s resolve to
regain some of the ground that it has lost in the most lucrative part of the
Internet’s ad market.
ii.
The five-year
alliance announced on Wednesday will end a decade-old partnership in the U.S.
between Google Inc. and the Mozilla Foundation, which oversees the Firefox
browser.
iii.
Even
though Chrome is now more widely used, Firefox still has a loyal audience that
makes more than 100 billion worldwide search requests annually.
7. China and Australia signed a MoU
on bilateral Antarctic cooperation
i. China and Australia on 18 November
2014 signed a memorandum of understanding (MoU) on bilateral Antarctic
cooperation.
ii. The MoU was signed in the presence of the President of
China Xi Jinping and Prime Minister of Australia Tony Abbott in Hobart,
Australia’s gateway to Antarctica.
iii. President of China Xi Jinping is on three nation tour to
Australia, New Zealand and Fiji with Australia being the first leg of his
visit.
8. 45th International Film Festival of
India begins in Goa
i. 45th International Film Festival of India began at Panaji
in Goa a short while ago. Mega Star of Indian Cinema Amitabh Bachchan is the
chief guest of opening function.
ii. The Festival will be opened with screening of a film of renowned Iranian director Mohsen Makhmalbaf. Indian Panorama will be inaugurated tomorrow with the screening of Elizabeth Ekadashi directed by Paresh Mokashi.
ii. The Festival will be opened with screening of a film of renowned Iranian director Mohsen Makhmalbaf. Indian Panorama will be inaugurated tomorrow with the screening of Elizabeth Ekadashi directed by Paresh Mokashi.
9. Assam Zoo set to become the first
zoo in world to have the critically endangered Pygmy Hog
i. Assam State Zoo in
Guwahati in the third week of November 2014 decided to have the critically
endangered pig Pygmy Hog (Porcula salvania). Pygmy Hog is the rarest and smallest wild pig in the world.
ii. With this decision, Assam State Zoo is set to become the first and only zoo of the world to have this critically endangered species of pigs.
iii. The Zoo took the decision to have the Pigmy Hogs as they are on the brink of extinction, and they want to make the zoo a captive breeding centre for the critically endangered mammals.
iv. The Pygmy Hog Research and Breeding Centre at Basistha, Assam will provide the pigs to the Assam zoo.
ii. With this decision, Assam State Zoo is set to become the first and only zoo of the world to have this critically endangered species of pigs.
iii. The Zoo took the decision to have the Pigmy Hogs as they are on the brink of extinction, and they want to make the zoo a captive breeding centre for the critically endangered mammals.
iv. The Pygmy Hog Research and Breeding Centre at Basistha, Assam will provide the pigs to the Assam zoo.
About Pygmy Hog (Porcula salvania)
Pygmy hog is the smallest and rarest of wild pigs available in Assam. At present number of this critically endangered mammal are around 200 only. The species measures about 65 cm in length and 25 cm in height. It weighs around 8 to 9 kilograms.
Pygmy hog is the smallest and rarest of wild pigs available in Assam. At present number of this critically endangered mammal are around 200 only. The species measures about 65 cm in length and 25 cm in height. It weighs around 8 to 9 kilograms.
10. Rampal Singh Jatin arrested by
Haryana Police from his ashram in Hisar
i. Rampal Singh Jatin was in news because
he was arrested by Haryana Police on 19 November 2014 from his fortified Satlok
Ashram in Hisar of Haryana. He is famous as Sant Rampal and is a self-styled
Godman.
ii. He was arrested after two weeks of
intense attempts by police to arrest him that involved rioting in which scores
of persons were injured and around 5 persons were killed.
iii. He was arrested under fresh cases
of sedition, criminal conspiracy and rioting. Rampal will be produced in the
Haryana and Punjab High Court on 20 November 2014.
Problem that led to Court order and
his arrest
Rampal in 2006 criticised Dayanand
Saraswati, the founder of Arya Samaj his criticism led to violent clashes at
Karontha ashram between the followers of two sects, in which an Arya Samaj
follower was killed. Following the death of the follower of Arya Samaj, Rampal
was charged with murder, and was arrested but was released in 2008 after
spending several months in jail.
11. Airbus to sign deal with Delta
for 50 planes
i. European aerospace giant Airbus is
poised to sign a deal to deliver 50 long-haul carriers to US Delta Airlines in
a contract worth $14 billion at catalogue prices.s
ii. Under the terms of the deal, Airbus will
deliver 25 A350-900s, the company’s new long-haul carrier that this month
received certification from the US Federal Aviation Authority, a source close
to the negotiations said on condition of anonymity, sources told AFP today.
iii. The other 25 planes will be A330-neos, an updated
version of its wide-body medium-haul jet with fuel saving engines which is
slated to enter into service at the end of 2017.
12. World Tour Golf Championship gets
underway in Dubai
i. World Tour Golf Championship gets underway at Jumeirah Golf states in Dubai
today.
ii. Top Golfers
including the defending champion Henrik Stenson - the man in form this season -
Rory Mcllroy, Justine Rose, Jamie Donaldson along with Stephen Gallacher are
among the big names participating in the tournament.
13. Indian-origin hotel doorman
Kottarapattu Chattu died
i. Kottarapattu Chattu Kuttan of the venerable Galle Face Hotel in Colombo
died on 18 November 2014 after a brief illness. He was 94.
ii. He
was Sri Lanka's oldest hotel doorman, who served world leaders like Lord
Mountbatten, Princess Elizabeth, Emperor Hirohito, Mahatma Gandhi, Jawaharlal
Nehru, Indira Gandhi and Richard Nixon at the Galle Face Hotel in Colombo for
72 years
iii. The
Galle Face Hotel, founded in Colombo, Sri Lanka in 1864, is the oldest hotel
east of Suez.
14. Srikanth breaks into top 10 in
badminton ranking
i. Owing to his recent title victory at
the China Open in Fuzhou, K. Srikanth climbed up six places to achieve a
career-best 10th in the men’s singles category of the latest Badminton World
Federation (BWF) rankings released on Thursday.
ii. Olympic medallist Saina Nehwal also jumped up a place to
move up the ladder to number 4 in the women’s singles rankings, even as P.V.
Sindhu managed to maintain her 10th position in the list.
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