Current Affairs - 26th May 2014
Israeli and Palestinian presidents accept Papal invitation to the Vatican
Israeli President Shimon Peres and Palestinian Authority President Mahmoud Abbas accepted the invitation given by Pope Francis to pray for peace at the Vatican. Both leaders agreed to visit the Vatican city. Pope Francis is the first pontiff to travel straight to the West Bank rather than entering through Israel.
New smartphone app for persons with vision impairment
Scientists have developed a new smartphone app that helps vision impaired persons to navigate obstacles in their way. Researchers at the University of Alicante at Spain have developed this smartphone that has a built-in 3D camera for detecting obstacles.
13 year old Andhra girl becomes youngest female Mount Everest climber
A 13 year old girl, Malavath Purna became the youngest female climber to conquer Mount Everest. She was accompanied by Sadhanapalli Anand Kumr, a 16 year old from Khammam in Andhra Pradesh. Both climbers are students of Andhra Pradesh Social Welfare Educational Society.
Ukraine goes to poll
Ukranian voters arrived to the polls for a fresh election. This follows the ouster of Viktor F. Yanhukovych in a civic uprising that precipitated a geopolitical crisis. Russian President Vladimir Putin has indicated he will respect the verdict of the poll.
Micromax ropes in Vineet Taneja
Consumer electronics firm Micromax has hired Samsung India's mobile and IT business chief as his new executive. Micromax is the second largest smartphone player in the Indian market. It is aiming to strengthen its position in a rapidly growing market.
Indian Rupee best performing currency against US dollar in 2014
Following capital inflows and positive sentiment for new government formation, the Indian rupee has emerged as the best performing currency in the Asia-Pacific region against the Greenback. Having gained 5.3% since the start of this year, the Indian rupee has outpaced its Asia Pacific peers.
India origin businessman purchases stake in Travelex
Indian born UAE businessman B R Shetty has acquired a $1.7 billion stake in Travelex. Shetty has joined UAE based Centurion Investments to purchase a stake from the US equity firm Apax Partners.
SBI sold NPA amounting to Rs. 3590 crore to ARCs
State Bank of India has sold its non-performing assets worth Rs. 3590 crore to asset reconstruction companies. Large and mid size corporate advances as well as high SME loan portfolios were the chief NPAs sold to the ARCs.
AP HC clears Sun Pharma-Ranbaxy merger
Andhra Pradesh HC cleared the path for the Sun Pharma-Ranbaxy merger. Sun Pharma-Ranbaxy merger is the largest acquisition deal in the Indian pharmaceutical industry. The value of the transactions is $ 4 billion.
