Current Affairs - Business

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Exercise :: Business - Latest Current Affairs

  • Business - Latest Current Affairs
1. 

Which Indian company is set to acquire Mumbai based private sector general insurer Raheja QBE General Insurance Company Limited in a deal worth around $76 million?

A. Myntra
B. Paytm
C. Flipkart
D. Phonepe

Answer: Option B

Explanation:

Indian e-commerce payment system Paytm & QorQl Pvt. Ltd, a Healthcare startup company with majority shareholding of Paytm founder Vijay Shekhar Sharma, is set to acquire Mumbai (Maharashtra)-based private sector general insurer Raheja QBE General Insurance Company Limited in a deal worth around $76 million (or Rs 570 crore). Raheja QBE is a joint venture of India's Prism Johnson (51%) and QBE Australia (49% ).

2. 

According to the COVID-19 and Tourism: Assessing the Economic Consequences published by UNCTAD the World Tourism sector could lose how much money?

A. 1.2 trillion USD
B. 2.2 trillion USD
C. 3.2 trillion USD
D. 4.2 trillion USD

Answer: Option A

Explanation:

The United Nations Conference on Trade and Development (UNCTAD) published the report, COVID-19 and Tourism: Assessing the Economic Consequences stating that the World Tourism sector could lose around 1.2 trillion USD or 1.5% of the Global Gross Domestic Product (GDP) because of the 4 months lockdown due to global pandemic situation.

3. 

Which US private equity giant has agreed to acquire a 54% stake in Mumbai-based drug manufacturer JB Chemicals & Pharmaceuticals for approximately Rs 3100 crore?

A. The Blackstone Group
B. Kohlberg Kravis Roberts & Co.
C. The Carlyle Group
D. KKR Group

Answer: Option D

Explanation:

US private equity giant KKR has agreed to acquire a 54% stake(41.7 million or 4.17 crore fully paid up equity shares) in Mumbai-based drug manufacturer JB Chemicals & Pharmaceuticals for approximately Rs 3100 crore. KKR will make the investment through its subsidiaries, Tau Investments Holdings Pte. Ltd., Tau Holdco Pte. Ltd., and KKR Asia III Fund Investments Pte.

4. 

Edelweiss Asset Management Company, a subsidiary of Edelweiss Capital Limited has decided to bring the second installment of the Bharat Bond ETF with two new series to raise how much fund in July 2020?

A. Rs 14,000 crore
B. Rs 24,000 crore
C. Rs 4,000 crore
D. Rs 16,000 crore

Answer: Option A

Explanation:

Edelweiss Asset Management Company (AMC), a subsidiary of Edelweiss Capital Limited (ECL) has decided to bring the second installment of the Bharat Bond ETF (Exchange Traded Fund) with two new series to raise Rs 14,000 crore in July 2020.

5. 

US based Electronic chip maker Intel's investment arm, Intel Capital will buy 0.39% stake in which indian platform for Rs 1,894.50 crore?

A. Tata Sky
B. Reliance Industries Limited
C. Vodafone Idea
D. Bharti Airtel Limited

Answer: Option B

Explanation:

US based Electronic chip maker Intel's investment arm, Intel Capital to buy 0.39% stake in Reliance Industries Limited(RIL)'s Jio Platforms for Rs 1,894.50 crore. This is the 12th deal of Jio Platforms. With this investment, Jio Platforms has raised Rs 1,17,588.45 crore from global investors since April 22.