Current Affairs - Business

Exercise :: Business - Latest Current Affairs

  • Business - Latest Current Affairs
46. 

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?

A. US$ 100.27 million
B. US$ 156.27 million
C. US$ 121.27 million
D. US$ 234.27 million

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.

47. 

Which company has signed an agreement to acquire the 49% of stake in Odisha Power Generation Corporation?

A. Eveready Industries India
B. Ballarpur Industries Limited
C. Adani Power Ltd
D. Aditya Birla Group

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.

48. 

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?

A. IBMC Financial Professionals Group
B. Visionary Related Entertainment
C. Rockwell Collins
D. Marriott International

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.

49. 

Which Indian company became the first Indian company to reach a market capitalisation of Rs 11 trillion?

A. Infosys
B. Reliance Industries Ltd
C. Indian Oil Corporation
D. Tata Power

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.

50. 

Which AMC has recently launched 1st Corporate bond ETF?

A. Global Investment House
B. KB Kookmin Bank
C. Edelweiss Asset Management Company
D. Aditya Birla Sun Life Asset Management Company Ltd.

Answer: Option C

Explanation:

Edelweiss Asset Management Company (AMC), a subsidiary of Edelweiss Capital Limited (ECL) has launched India's 1st Corporate Bond ETF (exchange trade fund) called the Bharat Bond ETF. The ETF is a government initiative and Edelweiss AMC was given the mandate to design and manage the product.