Current Affairs May 2022

US becomes India's biggest trading partner in FY22

US becomes India’s biggest trading partner in FY22

The US has replaced China to become the India’s top trading partner in 2021-22, this is reflecting strong economic ties between the two countries. The bilateral trade between two countries stood at $119.42 billion (2021-22) as against $80.51 billion in 2020-21, according to the data of the commerce ministry. Other top trading partner: China ($115.42 billion), The UAE ($72.9 billion), Saudi Arabia ($42,85 […]

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Jitendra Singh inaugurates India’s first ‘Lavender Festival’ in Bhaderwah

Jitendra Singh inaugurates India’s first ‘Lavender Festival’ in Bhaderwah

Dr. Jitendra Singh (Union Minister) has inaugurated the nation’s first  Lavender Festival in Jammu’s district Bhaderwah. Lavender cultivation has changed the destiny of farmers in Jammu and Kashmir under the government initiative of ‘Aroma Mission or Purple Revolution’. Bhaderwah is in Doda district, is the best place for lavender cultivation in terms of land and climate. Aroma Mission: To

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Olympic medalist, Lovlina Borgohain elected as IBA Athletes Committee Chair

Olympic medalist, Lovlina Borgohain elected as IBA Athletes Committee Chair

Olympics bronze medallist, Lovlina Borgohain has been elected as the  voting member and chair on the Board of Directors for the Athletes’ Committee, the International Boxing Association (IBA). She has received the highest number of votes at the 2022 Women’s World Championships election. Shiva Thapa was elected by the boxers that participated during the men’s world championships that was held in

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India’s GDP growth likely to be 8.2-8.5 per cent in FY22: SBI report

India’s GDP growth likely to be 8.2-8.5 per cent in FY22: SBI report

SBI’s research report Ecowrap, in its latest edition has projected India’s Gross Domestic Product (GDP) growth at 8.2 to 8.5 per cent for FY22. For Q4FY22, the SBI research report expects growth of 2.7 per cent. Early trend of Q4FY22 results for corporates, in the listed space, Sectors like IT-software, auto ancillary, steel, FMCG, chemicals,

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India, UAE sign MoU to enhance bilateral cooperation on climate action

India, UAE sign MoU to enhance bilateral cooperation on climate action

India and United Arab Emirates have signed an MoU to establish a framework to facilitate and enhance bilateral cooperation on climate action. The agreement was signed between Environment, Forest and Climate Change Minister Bhupender Yadav and UAE Climate Envoy and Minister of Industry and Advanced Technology Dr Sultan Al Jaber in New Delhi yesterday. The

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‘Tomb of Sand’ becomes 1st Hindi novel to win 2022 Booker Prize

‘Tomb of Sand’ becomes 1st Hindi novel to win 2022 Booker Prize

Indian author Geetanjali Shree and American translator Daisy Rockwell won the 2022 International Booker Prize for “Tomb of Sand”. The book “Tomb of Sand’ was originally written in Hindi, it is the first book in any Indian language to win such a prestigious award. The prize money of 50,000 pound will be split between Shree and Rockwell. The book is about a widow who

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Japan's MUFG Bank gets approval set up branch at GIFT City

Japan’s MUFG Bank gets approval set up branch at GIFT City

MUFG Bank becomes the first Japanese bank to open a branch at Gujarat International Financial Tech City (GIFT City) in a bid to offer a wide range of banking services to both domestic and global clients. MUFG Bank has already taken all necessary approvals from the International Financial Services Centre Authority (India) and the Financial Services Agency (Japan) to set up a

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CCEA clears sale of govt's 29.5% stake in Hindustan Zinc

CCEA clears sale of govt’s 29.5% stake in Hindustan Zinc

The Cabinet Committee on Economic Affairs (CCEA) has cleared the government’s 29.5% stake sale in Hindustan Zinc Ltd (HZL) to fetch around Rs 38,000 crore to the exchequer. This decision will strengthen the government’s disinvestment drive in the current fiscal year. The government has budgeted Rs. 65,000 crore from PSU disinvestment and strategic sale. In 2002, the government offloaded a 26% stake

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