Current Affairs

Jeff Bezos Surpasses Elon Musk as World’s Richest Person

The Amazon founder is once again the world’s richest person, eclipsing Elon Musk and jumping atop the Bloomberg Billionaires Index for the first time since the fall of 2021.

Bezos’ net worth was $200 billion on Monday, according to Bloomberg. Musk’s personal wealth was $198 billion and LVMH chief Bernard Arnault’s was $197 billion. Musk, Arnault and Bezos have rotated places in recent years atop the ranking, which measures personal wealth based on changes in markets, the economy and other reporting.

Bezos has amassed much of his wealth from e-commerce giant Amazon, which he started in 1994 out of his garage in the Seattle area. He also founded space company Blue Origin and bought the Washington Post for $250 million.



Archaeologists in Egypt unearth section of large Ramses II statue

A joint Egyptian-U.S. archaeological mission has uncovered the upper part of a huge statue of King Ramses II during excavations south of the Egyptian city of Minya, Egypt's tourism and antiquities ministry said on Monday.

The limestone block is about 3.8 metres (12.5 feet) high and depicts a seated Ramses wearing a double crown and a headdress topped with a royal cobra, Bassem Jihad, head of the mission's Egyptian team, said in a statement.

The upper part of the statue's back column shows hieroglyphic writings that glorify the king, one of ancient Egypt's most powerful pharaohs, he said.



Kerala to launch India’s first government-owned OTT platform

Kerala is poised to make waves in the digital entertainment realm with the launch of CSpace, India’s inaugural government-backed OTT platform. Set to debut this Thursday, the platform aims to deliver a unique blend of informative and entertaining content tailored for the masses, an official statement said here on Tuesday.

Chief Minister Pinarayi Vijayan will launch the OTT platform at Kairali Theatre on March 7 at 9.30 am. Cultural Affairs Minister Saji Cherian will preside.

“CSpace is essentially a response to the growing imbalances and multifarious challenges in the OTT sector in terms of content selection and propagation,” said Shaji N Karun, noted film director and Chairman, Kerala State Film Development Corporation (KSFDC), at a press conference here.



Jharkhand CM to launch widow remarriage promotion scheme

Jharkhand Chief Minister Champai Soren will formally launch the State Widow Remarriage Promotion Scheme today. Under the scheme, an amount of Rs 2 lakh will be given to a widow who remarries.

Giving information about the scheme, the Secretary of Women and Children and Social Welfare Department, Manoj Kumar, said, "This scheme is being introduced so that widows can be brought into the mainstream and they can live with dignity...Any widow who remarries can apply for this; Within one year of her marriage...Rs 2 lakhs will be given to her..."



JM Financial share price crashes 19% after RBI bans lending against shares, debentures

JM Financial share price declined over 19% in the opening trade on Wednesday after the Reserve Bank of India (RBI) barred JM Financial Products Ltd from giving loans against shares and debentures citing regulatory and governance lapses. JM Financial share fell as much as 19.29% to ₹77.10 apiece on the BSE.

The banking regulator has also barred JM Financial Products from sanctioning and disbursing loans against Initial Public Offering (IPO) of shares with immediate effect.

RBI said its action was necessitated due to certain serious deficiencies observed with respect to loans sanctioned by the company for IPO financing as well as (non-convertible debenture) subscriptions. 



Uttar Pradesh Cabinet approves green hydrogen policy

The Uttar Pradesh government on Tuesday approved a green hydrogen policy, and a proposal for setting up two units of 800 MW in Anpara in collaboration with NTPC at a cost of Rs 8,624 crore. The decisions were taken at a Cabinet meeting presided by Chief Minister Yogi Adityanath.

"So far, hydrogen production technology has relied on electricity or gas, known as gray hydrogen. A significant effort is now underway to transition from gray hydrogen to green hydrogen. The policy outlines an ambitious goal to produce one million metric tonne of green hydrogen annually within the next 4 years, by 2028," an official release quoted Energy Minister AK Sharma as saying.

The green hydrogen policy has been set for 5 years. Industries establishing themselves within this timeframe will receive subsidies and other incentives totalling Rs 5,045 crore.



Google Doodle celebrates Ghana's 67th Independence Day

Ghana, the second most populous country in West Africa, is marking its 67th Independence Day today. The Republic of Ghana got its independence on March 6, 1957, from the United Kingdom. Today, Google Doodle is also celebrating Ghana's Independence Day depicting the country's national flag with 'Google' written at the bottom. The visibility of Doodle spans the region of Ghana located in Africa.

Ghana gained independence in 1957 and it is the first sub-Saharan African country to get independence from European colonial rule. This is the day marking the declaration of Ghanaian independence from colonial rule.



RBI to introduce ‘Interoperable payment system’ for quick fund settlements

To enable quicker settlements of funds to merchants, Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday announced the introduction of an ‘interoperable payment system’ for Internet banking, which is likely to be launched during the current calendar year.

Interoperability has the capability of various digital systems, applications, and databases to link and exchange information. Payment platforms utilise financial technology to facilitate connectivity and data sharing among ecosystem participants such as banks, payment gateways, processors, merchants, and consumers.



Union Steel Minister Jyotiraditya Scindia inaugurates country's 1st Green Hydrogen Plant in Stainless Steel Sector

Union Steel Minister Jyotiraditya Scindia today virtually inaugurated India's 1st Green Hydrogen Plant in the Stainless Steel Sector at Jindal Stainless Limited, Hisar. This plant will be the world’s first off-grid Green Hydrogen plant for the stainless steel industry and the world’s first Green Hydrogen plant with rooftop and floating solar. This project will reduce carbon emissions by around two thousand 700 Metric Tonnes per annum and 54 thousand tons of carbon dioxide emissions over the next two decades.

Speaking on the occasion, Mr Scindia highlighted India's commitment to a green and sustainable future, emphasizing the need for responsible economic progress in the post-COVID era. He also highlighted India's progress in the steel sector, evolving from a net importer to a net exporter and aiming to become the world's largest producer of crude steel.



First edition of Naval Commanders' Conference of 2024

The first edition of the Naval Commanders' Conference of 2024 is scheduled to commence on March 5. According to the Indian Navy, the first phase will be held in a hybrid format where the first phase will be held at sea with the Defence Minister embarking at sea to witness both aircraft carriers demonstrating the Indian Navy's ability to conduct 'twin carrier operations'.

During the three-day event, the defence minister will address the Naval Commanders.

The Chief of Defence Staff, along with Chiefs of the Indian Army and Indian Air Force, will also engage with the Naval Commanders during the conference to discuss the convergence of the three Services in light of the common national security environment.