Current Affairs - 27th May 2014
RBI permits 3 firms to set up white label ATMs
Mumbai bullion trading firm RiddiSiddhi Bullions, SREI Infrastructure Kolkata and BTI Payments based in Bangalore have been given permission by the RBI to set up white label ATMs. The 3 firms will join the 4 entities authorised to set up such networks such as TATA Communications and Muthoot Finance.
Petro Poroshenko wins Ukraine election
Chocolate tycoon Petro Poroshenko has won by a massive margin the the Ukraine presidential elections. This gives the pro-European billionaire an opportunity to resolve conflicts between Russia and the West.
Eurosceptics score win in European elections in France
French political scene was a site for a massive revolution as the far-Right Front National scored a victory in the European elections. Francois Hollande sought a mettingwith party workers to analyse their dismal scorecard. Front National won about 25% of the vote in a massive rejection of the EU. Marine Le Pen described this as a split between the globalists and nationals.
Narendra Modi takes oath as India's 15th PM
Narendra Modi was sworn in as the 15th PM of India. The ceremony was held in the forecourt of the Rashtrapati Bhawan. Leaders from 8 countries witnessed the oath taking ceremony. 44 ministers also took oath along with the PM.
Singapore top source of FDI to India
Singapore has beaten Mauritius to the top spot as the largest source of FDI in India. Data compiled by the Department of Industrial Policy and Promotion shows that FDI inflows from Singapore totalled Rs, 35,000 crore in 2013-2014 as against Rs. 29, 360 crore from Mauritius.
Diageo Plc receives SEBI clearance for acquiring 26% stake in United Spirits
International liquor group Diageo Plc has obtained the permission of SEBI for acquiring an additional 26% in United Spirits Limited for around Rs. 11,448.91 crore. Diageo is now buying 53.4% stake in Vijay Mallya's USL.
Indian rupee declines ahead of swearing in ceremony
The Indian rupee declined to its lowest value this month as investors made the move to cover short dollar positions ahead of the oath taking ceremony of India's PM. Indian shares also ended flat in a volatile session. Investors are keen to know allocation of key portfolios.
Flipkart gets another $210 million in funds from investors
Flipkart has announced that it has raised $210 million from DST Global. Yuri Milner is the founder of DST Global. The other major investors of Flipkart include Tiger Global, Naspers and Iconiq Capital.
