Exercise :: Business - Latest Current Affairs
- Business - Latest Current Affairs
| 16. | Which company will close its physical store locations permanently? |
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Answer: Option B Explanation: Microsoft Corp said it will close its physical store locations permanently but will continue to invest in a digital storefront that, along with third-party retailers, has driven sales of products such as the Xbox game player and Surface tablets.
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| 17. | The CCEA has approved additional investment of how much by ONGC Videsh Ltd towards further development of blocks A-1 and A-3 Blocks of Shwe oil & gas project in Myanmar? |
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Answer: Option C Explanation: The CCEA has approved additional investment of US$ 121.27 million (about Rs.909 crore) by ONGC Videsh Ltd (OVL) towards further development of blocks A-1 and A-3 Blocks of Shwe oil & gas project in Myanmar. OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), had picked up a stake in the Shwe Project in Myanmar in 2002, as part of a consortium of companies from South Korea, India and Myanmar. The firm has invested USD 722 million in the project till March 31, 2019.
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| 18. | Which company has signed an agreement to acquire the 49% of stake in Odisha Power Generation Corporation? |
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Answer: Option C Explanation: Adani Power Ltd (APL) has signed an agreement to acquire the 49% of stake(a total of 89,30,237 equity shares) in Odisha Power Generation Corporation(OPGC) from the affiliates of the US-based global energy company, AES Corporation(AES) for USD 135 million (around Rs 1,019 crore). The remaining 51% stake in OPGC is held by the Government of Odisha.
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| 19. | Which company in partnership with US Gold Currency Inc and Blockfills introduced the world's first monetary gold-backed US Gold digital currency in India, Gulf Cooperation Council, Middle East and Africa? |
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Answer: Option A Explanation: IBMC Financial Professionals Group in partnership with US Gold Currency Inc and Blockfills introduced the world's first monetary gold-backed US Gold digital currency in India, Gulf Cooperation Council (GCC), Middle East and Africa. It was launched from Dubai, United Arab Emirates (UAE) at a specially designed IBMC Hybrid Event in the virtual presence of officials from the US Gold Currency, Asia-Africa Development Council, GSEF and Blockfills USA. Each US Gold digital currency is backed by a US American Eagle one ounce (33.931 gram) gold coin, minted by the US Federal Agency, US Mint.
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| 20. | Which Indian company became the first Indian company to reach a market capitalisation of Rs 11 trillion? |
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Answer: Option B Explanation: Reliance Industries Ltd (RIL) became the first Indian company to reach a market capitalisation of Rs 11 trillion, as the company was valued at Rs 11.15 trillion. With this, RIL accounts for nearly 9% of the country's total m-cap of Rs 138 trillion. Its stock on Bombay stock exchange (BSE) was record high at Rs 1,738.95. Notably the company's share doubled since mid-March 2020.
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