Monday 25 September 2017
Daily Current Affair - 23th Sep. 2017
1. Amazon buys 5% equity in Shoppers Stop for Rs179.25 crore:
Departmental store chain Shoppers Stop Ltd has approved a proposal to sell 5% equity in the company for Rs179.25 crore to Amazon NV Holdings LLC, the investment arm of the world’s largest online retailer Amazon Inc. The proposed deal values Shoppers Stop shares at Rs407.78 each. The firm’s shares closed at Rs416.45 during Friday’s trade, down 3.39%.
2. Google is buying part of HTC’s smartphone team for $1.1 billion:
Google is making another big buy into smartphone hardware — or at least the people responsible for creating it. The company has just confirmed that it plans to acquire part of HTC’s mobile division team for $1.1 billion. “These future fellow Googlers are amazing folks we’ve already been working with closely on the Pixel smartphone line, and we're excited to see what we can do together as one team,” Rick Osterloh, Google’s hardware boss, wrote in a blog post. “The deal also includes a non-exclusive license for HTC intellectual property.” Peter Shen, HTC’s chief financial officer, said that HTC would still employ more than 2,000 research and design staffers after the deal is done, down from around 4,000, according to the New York Times.
3. China's credit rating cut to A+ by S&P over rising debt fears:
China’s credit rating has been downgraded by Standard & Poor’s amid fears rising debts are adding to economic and financial risks. The agency lowered China’s sovereign rating by one notch to A+ from AA-, putting it in the same category as countries such as the US and Austria. This is the second downgrade from a major ratings agency for Beijing this year and comes at an awkward time before next month’s Communist party congress.
4. India announces taking up 116 high-impact projects in 31 provinces of Afghanistan:
India has announced taking up 116 “high impact community developmental projects” in 31 provinces of Afghanistan, weeks after US President Donald Trump sought New Delhi’s help in the economic development of the war-torn country. A decision in this regard was taken during a meeting between External Affairs Minister Sushma Swaraj and Afghanistan President Ashraf Ghani here on the sidelines of the UN General Assembly session.
5. China runs world’s fastest commercial bullet train at 350 kmph:
China restored the maximum speed of bullet trains on the Beijing-Shanghai high-speed railway line to 350 kilometres per hour, making it the fastest commercially run train, six years after it reduced the speed due to a fatal accident. The speed was reduced to 300 kilometres per hour following the deadly accident in July 2011 that killed 40 people.
A Fuxing bullet train departed Beijing South Railway Station at 9:00 am for Shanghai. The speed hike will cut the 1,318 kilometre Beijing-Shanghai journey to 4 hours 28 minutes, cutting the train time by nearly an hour.
6. Faridabad's daughter enhances India's glory, gold medal in Russia:
In the World Cup Diamond Kick Boxing Competition in Russia, the city's Reema Nawarat has enhanced the glory of the country by winning the gold medal. Reema defeated host Russia's Fighter Anna Swidenko in a crucial match.
The competition will be held from 19th to 25th September. Reema will be welcomed on returning to Faridabad. Reema expressed her happiness after winning the medal. It has been practicing at the Kicks Boxing Academy of Sports Complex at NIT for the past two years.
Departmental store chain Shoppers Stop Ltd has approved a proposal to sell 5% equity in the company for Rs179.25 crore to Amazon NV Holdings LLC, the investment arm of the world’s largest online retailer Amazon Inc. The proposed deal values Shoppers Stop shares at Rs407.78 each. The firm’s shares closed at Rs416.45 during Friday’s trade, down 3.39%.
2. Google is buying part of HTC’s smartphone team for $1.1 billion:
Google is making another big buy into smartphone hardware — or at least the people responsible for creating it. The company has just confirmed that it plans to acquire part of HTC’s mobile division team for $1.1 billion. “These future fellow Googlers are amazing folks we’ve already been working with closely on the Pixel smartphone line, and we're excited to see what we can do together as one team,” Rick Osterloh, Google’s hardware boss, wrote in a blog post. “The deal also includes a non-exclusive license for HTC intellectual property.” Peter Shen, HTC’s chief financial officer, said that HTC would still employ more than 2,000 research and design staffers after the deal is done, down from around 4,000, according to the New York Times.
3. China's credit rating cut to A+ by S&P over rising debt fears:
China’s credit rating has been downgraded by Standard & Poor’s amid fears rising debts are adding to economic and financial risks. The agency lowered China’s sovereign rating by one notch to A+ from AA-, putting it in the same category as countries such as the US and Austria. This is the second downgrade from a major ratings agency for Beijing this year and comes at an awkward time before next month’s Communist party congress.
4. India announces taking up 116 high-impact projects in 31 provinces of Afghanistan:
India has announced taking up 116 “high impact community developmental projects” in 31 provinces of Afghanistan, weeks after US President Donald Trump sought New Delhi’s help in the economic development of the war-torn country. A decision in this regard was taken during a meeting between External Affairs Minister Sushma Swaraj and Afghanistan President Ashraf Ghani here on the sidelines of the UN General Assembly session.
5. China runs world’s fastest commercial bullet train at 350 kmph:
China restored the maximum speed of bullet trains on the Beijing-Shanghai high-speed railway line to 350 kilometres per hour, making it the fastest commercially run train, six years after it reduced the speed due to a fatal accident. The speed was reduced to 300 kilometres per hour following the deadly accident in July 2011 that killed 40 people.
A Fuxing bullet train departed Beijing South Railway Station at 9:00 am for Shanghai. The speed hike will cut the 1,318 kilometre Beijing-Shanghai journey to 4 hours 28 minutes, cutting the train time by nearly an hour.
6. Faridabad's daughter enhances India's glory, gold medal in Russia:
In the World Cup Diamond Kick Boxing Competition in Russia, the city's Reema Nawarat has enhanced the glory of the country by winning the gold medal. Reema defeated host Russia's Fighter Anna Swidenko in a crucial match.
The competition will be held from 19th to 25th September. Reema will be welcomed on returning to Faridabad. Reema expressed her happiness after winning the medal. It has been practicing at the Kicks Boxing Academy of Sports Complex at NIT for the past two years.
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