Current Affairs July 03rd & 04th 2022| Current Affairs News

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CURRENT AFFAIRS: IMPORTANT DAYS

American Independence Day- July 4

  • Independence Day, also called the Fourth of July or July 4th, in the United States, is the annual celebration of nationhood.
  • It commemorates the passage of the Declaration of Independence by the Continental Congress on July 4, 1776.
  • Independence Day is celebrated on Monday, July 4, 2022, in the United States.
  • On July 4th, the Continental Congress formally adopted the Declaration of Independence, which had been written largely by Jefferson.
  • Though the vote for actual independence took place on July 2nd, from then on, the 4th became the day that was celebrated as the birth of American independence
  • On July 4, 1776, the Second Continental Congress unanimously adopted the Declaration of Independence, announcing the colonies’ separation from Great Britain.

CURRENT AFFAIRS: NATIONAL NEWS

Centre grants financial assistance of five lakh rupees to 35 families of journalists under the ‘Journalist Welfare Scheme’:

  • The Central Government has approved a proposal of the Journalist Welfare Scheme Committee to provide financial relief to the families of 35 journalists who have lost their lives.
  • This includes 16 families of journalists who died of Covid-19.
  • The JWS committee meeting was attended by Principal Director General, Press Information Bureau Jaideep Bhatnagar, Joint Secretary in the Information and Broadcasting Ministry along with the journalist representatives of the Committee.
  • The families will be provided with the assistance of up to five lakh rupees.

About The Journalist Welfare Scheme

  • The Journalist Welfare Scheme, JWS Committee headed by Secretary, Information and Broadcasting Ministry, Apurva Chandra also recommended assistance to two journalists suffering from permanent disability and to five journalists for their medical treatment of major ailments as per the JWS guidelines.
  • The committee approved total assistance of one crore and 81 lakh rupees during the meeting.
  • Under the scheme, assistance has been provided to 123 families of the journalists so far, who have lost their lives due to Covid-19.
  • Assistance is also provided to journalists in case of permanent disability, serious accidents, and major health ailments.
  • During the last financial year, 134 journalists and their families assisted in under various categories amounting to six crores 47 lakh rupees.

Pradhan Mantri Formalisation of Micro Food Processing Enterprises Scheme completes two years:

  • The Pradhan Mantri Formalisation of Micro Food Processing Enterprises, PMFME Scheme, under Aatmanirbhar Bharat Abhiyan, has completed two years.
  • The PMFME Scheme is currently being implemented in 35 States and Union Territories, envisioning enhancement of the existing individual micro-enterprises in the unorganized segment of the food processing industry and formalization of the sector.
  • This scheme also envisages financial support of 40,000 rupees for working capital and the purchase of small tools for each member of the Self-Help Group (SHG) engaged in food processing activities.
  • Over one lakh SHG members have been identified and the seed capital amount of 203 crore rupees has been released so far.

About Pradhan Mantri Formalisation of Micro food processing Enterprises:

  • Ministry of Food Processing Industry (MoFPI) has launched the Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) scheme under the Aatmanirbhar Bharat Abhiyan to enhance competitiveness of existing individual micro-enterprises in the unorganized segment of the food processing industry and promote formalization of the sector.
  • The scheme is to be implemented over five years from 2020-21 to 2024-25 with a total outlay of Rupees 10,000 crore.
  • The scheme has a special focus on supporting Groups engaged in Agri-food processing such as Farmer Producer Organizations (FPOs), Self Help Groups (SHGs), and Producers Cooperatives along their entire value chain.

The PMFME scheme support in terms of:

  1. Food processing entrepreneurs through credit-linked capital subsidy @35% of the eligible project cost with a maximum ceiling of Rs.10 lakh per unit.
  2. Seed capital @ Rs. 40,000/- per SHG member for working capital and purchase of small tools.
  • Credit linked grant of 35% for capital investment to FPOs/ SHGs/ producer cooperatives.
  1. Support for marketing & branding to micro-units.
  2. Support for common infrastructure and handholding support to SHGs, FPOs, and Producer Cooperatives.
  3. Providing Capacity building and training support to increase the capabilities of the enterprises and up-gradation of skills of workers.

Bosch India’s “smart” campus is opened by PM in Bengaluru:

  • In a sense, Prime Minister Shri Narendra Modi officially launched the new smart campus of Bosch India, a leading provider of technology and services in Bengaluru.
  • As both India and Bosch India celebrate their 75th anniversaries of independence this year, Modi said in his inaugural speech that this is a momentous year for both nations.

Key Points:

  • A century ago, Bosch came to India as a German company; now, it is just as much an Indian company as it is one from Germany.
  • This is a wonderful example of German engineering with Indian energy.
  • This campus is at the forefront of developing cutting-edge products and services for both India and the rest of the globe.
  • The Prime Minister begs Bosch to make plans for the next 25 years and take India more seriously.
  • It is stepping up its AIoT (Artificial Intelligence of Things) activities in that nation by rebranding its headquarters in Adugodi, India, as a new smart campus called Spark.
  • Bosch claimed to have spent Rs 800 crore over the previous five years building the campus, which can house 10,000 associates.

CURRENT AFFAIRS: INTERNATIONAL NEWS

India Hosts 8th Round Of SCO Meeting In New Delhi

  • India hosted the 8th round of meetings with the heads of the border services of the competent authorities of the member states of the Shanghai Cooperation Organization (SCO) in New Delhi.
  • Including India, the meeting was attended by the other 7 members China, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan, Uzbekistan, and the Executive Committee of the SCO-RATS (Regional Anti-Terrorist Structure).
  • India is represented by Border Security Force (BSF) Director General Pankaj Kumar Singh.
  • The daylong meeting was held under the chairmanship of India, which assumed the chair of SCO-RATS on October 28, 2021, for one year.
  • The meeting was held in a professional and constructive atmosphere as extensive deliberations on the pressing security challenges, including threats of terrorism, and regional security scenarios, including the situation in Afghanistan.
  • In the SCO meeting, the participants exchanged information reflecting assessments of the situation on the state borders of the SCO member states, trends, and forecasts of its development.
  • The plan for preparation and organization of this year’s Joint Border Operation “Friendship Border – 2022″ was reviewed and approved.
  • Member States supported the initiative of China to conduct a joint border operation of the border services of the competent authorities of the SCO member states Solidarity 2023.
  • They approved the work plan of the group of experts of the Border Services of the SCO member states for 2023.

About SCO :

  • Established: 15 June 2001
  • Membership: 8 member states ( Russia, China, India, Pakistan, Kazakhstan, the Kyrgyz Republic Uzbekistan, and Tajikistan)
  • Secretary-General: Zhang Ming
  • Headquarters: Beijing, China

CURRENT AFFAIRS: STATE NEWS

Himachal Pradesh CM launches ‘Naari Ko Naman’ scheme; women to get 50% concession on bus fare

  • The Chief Minister of Himachal Pradesh Shri Jai Ram Thakur launched Naari Ko Naman’s scheme at the Government College Auditorium in Dharamshala in Kangra district, Himachal Pradesh.

Purpose :

  • To provide 50 percent concession to the women passengers in fares in Himachal Road Transport Corporation (HRTC) buses.
  • Earlier the chief minister had announced the 50 percent concession on bus fares to women on April 15, 2022, Himachal Day.
  • In another scheme, he announced a reduction in the minimum bus fare from Rs 7 to Rs 5 for all passengers across HP.
  • Also, the government will sanction 25 new posts of women drivers in the ‘Ride With Pride’ government taxi service, an initiative to ferry women passengers and senior citizens.
  • Seema Thakur is the First Female Driver In Himachal Pradesh.

About HP :

  • Governor : Rajendra Arlekar
  • Chief Minister: Jai Ram Thakur
  • Capital: Shimla (Summer), Dharamshala (Winter)

CURRENT AFFAIRS: BANKING & FINANCE

Axis Financial institution Partners with EazyDiner to launch a premium eating expertise program

  • Axis Financial institution has partnered with EazyDiner, a table reservation, food discovery, and restaurant payment platform, and have launched Dining Delights, an eating experience program for the bank’s customers.

About the Programme :

  • The program will offer benefits such as the option to choose from over 10,000 premium restaurants across India and Dubai, instant confirmation on table reservations, and offers on dining reservations made through the EazyDiner app.
  • It is aligned to serve a rising variety of prospects who need alternatives, selection, and comfort.

SEBI gives UPI payment option to invest in public issues of REITs, InvITs

  • Capital market regulator Securities Exchange Board of India (SEBI) gave an additional option of UPI (Unified Payments Interface) to retail investors to apply in the public issues of Real Estate Investment Trust (REITs) and Infrastructure Investment Trust (InvITs) for application value up to Rs 5 lakh.
  • The change will apply to public issues of units of REIT and InvITs which open from August 1, 2022.
  • The capital markets regulator January 2019 laid down the process for payment for applications in the public issue of units of these new investment instruments through the facility of Applications Supported by Blocked Amount (ASBA).
  • The regulator has decided to reduce the time taken for allotment and listing of units of privately placed InvIT after the closure of the issue to 6 working days as against the present requirement of 30 working days.
  • REIT comprises a portfolio of commercial real assets, a major portion of which is already leased out, InvITs comprise a portfolio of infrastructure assets, such as highways and power transmission assets.

About SEBI :

  • Established: April 12, 1988, & given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.
  • Headquarters: Mumbai, Maharashtra, India
  • Chairman : Madhabi Puri Buch
  • The SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance, GoI.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Mr. Ferdinand Marcos Jr takes oath as Philippine president

  • Mr. Ferdinand Marcos Jr has been sworn in as the 17th & Current President of the Philippines until 2028 in a ceremony at the National Museum in Manila, Philippines.
  • He succeeded the outgoing President Mr. Rodrigo Duterte.
  • Meanwhile, Ms. Sara Duterte, the daughter of Mr. Rodrigo Duterte, is being sworn in as vice-president until 2028.
  • Mr. Marcos Jr. received more than 31 million votes and Sara Duterte more than 32 million of the more than 55 million votes cast in the May 9 2022 election.
  • Chinese Vice President Mr. Wang Qishan and U.S. Vice President Mr. Kamala Harris’s husband, Doug Emhoff, were among foreign dignitaries attending.

About Mr. Ferdinand Marcos Jr :

  • Mr. Ferdinand Marcos Jr commonly referred to as Bongbong Marcos
  • Previously, he served as a senator from 2010 to 2016.
  • He ruled the Philippines for 21 years from 1965 until 1986, with the country living under martial law for about half of that time.

About Ms. Sara Duterte :

  • Ms Sara Duterte commonly known as Inday Sara.
  • She served as the mayor of Davao City from 2016 to 2022.
  • She was also Davao City’s vice mayor from 2007 to 2010.

About the Philippines :

  • Capital: Manila
  • Currency : Philippine peso

Pinterest CEO Mr. Ben Silbermann steps down; Google executive Bill Ready appointed as new CEO

  • Pinterest Inc. announced that co-founder, Chief Executive Officer, and President, Mr. Ben Silbermann will step down from his place and hand over the reins of the social media platform to Google commerce executive Mr. Bill Ready.
  • Mr. Ready’s appointment brings to an end Silbermann’s 12-year tenure as CEO, which began when he co-founded the company in 2010.
  • Mr. Ben Silbermann is an American Internet entrepreneur.

About Pinterest :

  • Founded: December 2009
  • Headquarters: San Francisco, California, U.S
  • Executive Chairman: Ben Silberman
  • Pinterest is an image-sharing and social media service designed to enable the saving and discovery of information on the internet using images, and on a smaller scale, animated GIFs and videos, in the form of pinboards.

Mr. Shahid Kapoor appointed as the brand ambassador of PokerBaazi

  • India’s biggest poker platform, PokerBaazi.com, has appointed Bollywood superstar Shahid Kapoor as its brand ambassador.

Aim:

  • To create a robust ecosystem for Poker in India.
  • Kapoor’s association with the brand comes in line with its commitment to popularizing and creating awareness amongst the masses about Poker
  • According to research firm Statista, the online gaming industry across India was valued at around 79 billion in 2021, marking a leap from about ₹65 billion in 2020.
  • The sector is expected to be worth over ₹150 billion by 2024, indicating a compound annual growth of around 15%.

FanCode appoints Mr. Ravi Shastri as the first brand ambassador

  • Former team India coach and cricketer Mr. Ravi Shastri have been appointed as the new brand ambassador for FanCode, a live content, sports statistics, and e-commerce marketplace.
  • The appointment was made for India’s upcoming tour to the West Indies which is scheduled to start at the end of July 2022.
  • Shastri will lead the upcoming campaigns for India’s tour of the West Indies, and ECB’s The Hundred, a 100-ball cricket tournament involving 8 men’s and 8 women’s teams located in major cities across England and Wales.

About FanCode :

  • Founded: 2019
  • Headquarters: Mumbai, Maharashtra
  • Founders: Yannick Colaco, Prasana Krishnan

CURRENT AFFAIRS: BUSINESS AND ECONOMY

India’s GST collections jump 56% to Rs 1.45 lakh crore in June:

  • India’s Goods and Services Tax (GST) collections in June this year surged 56% year-on-year to around 1.45 lakh crore rupees.
  • The GST collections in June last year stood at 92,800 crore rupees.
  • Economic recovery and anti-evasion activities, especially action against fake billers, have contributed to the enhanced GST collections.
  • This is the fifth time the monthly GST collection has crossed the 1.40 lakh crore rupees mark since the inception of the GST and the fourth month at a stretch since March 2022.
  • The average monthly gross GST collection for the first quarter of the current fiscal has been 1.51 lakh crore rupees against the average monthly collection of 1.10 lakh crore rupees in the first quarter of the last financial year showing an increase of 37 percent.

Govt imposes a tax of Rs 6 per liter on exports of petrol & Aviation Turbine Fuel:

  • The Union Government has imposed a tax of six rupees per liter on exports of petrol and Aviation Turbine Fuel and 13 rupees per liter on exports of diesel.
  • In separate notifications issued by the Department of Revenue under the Ministry of finance, the government has imposed an additional tax of 23 thousand 250 rupees per tonne on domestically produced crude oil to take away windfall gains accruing to producers from high international oil prices.

CURRENT AFFAIRS: AWARDS AND HONOURS

Ashok Soota was conferred with CII Quality Ratna Award 2021:

  • Happiest Minds Technologies’ founder and executive chairman, Ashok Soota, has received the CII Quality Ratna Award 2021.
  • The 2019 CII Quality Ratna Award was established to honor those who have distinguished themselves through extraordinary leadership, contributions, and dedication to India’s quality movement.
  • Given Mr. Soota’s substantial contribution to enhancing the competitiveness of the Indian industry via quality Initiatives, the CII Awards Committee unanimously decided to present him with the 2021 Award.

CURRENT AFFAIRS: MOUS AND AGREEMENT

IIE, Guwahati signs MoU with IIM, Shillong to boost entrepreneurship ecosystem:

  • The Indian Institute of Entrepreneurship, Guwahati has signed an MoU with the Incubation and Enterprise Support Centre of the Indian Institute of Management Shillong in New Delhi to boost the entrepreneurial ecosystem in the North Eastern Region.
  • The objective of this partnership is to encourage entrepreneurship, incubation, and startups in the North Eastern Region.
  • Secretary of the Ministry of Skill Development and Entrepreneurship, Rajesh Aggarwal, this partnership will help create an atmosphere where startups and entrepreneurs can flourish in the Northeast region.
  • This will not only encourage the locals but also give them access to formal training and professional mentorship to run a successful business.
  • The government aims to foster an entrepreneurship-enabling ecosystem that promotes innovation and growth in the Northeast.

CURRENT AFFAIRS: ACQUISITIONS & MERGERS

CCI approves the acquisition between Google International LLC and Bharti Airtel Limited

  • The Competition Commission of India (CCI) has approved Google International LLC’s (Acquirer) acquisition of a minority and non-controlling stake of 1.28% of the equity capital of Bharti Airtel Limited (target).
  • Google International LLC (Acquirer) is a wholly-owned subsidiary of Google LLC a Delaware limited liability company and a wholly-owned subsidiary of Alphabet Inc.
  • The Acquirer is a holding company and does not own/operate any of Google’s products/ services.
  • However, Google offers various products and services, including its flagship search service, its Android operating system, and its Play app store.
  • BAL is an international communications solutions provider with over 480 million customers in 17 countries across South Asia and Africa.
  • BAL’s retail portfolio includes, amongst others, high-speed mobile broadband, Airtel Xstream Fiber, streaming services (music and video), digital payments, and financial services
  • For enterprise customers, BAL offers solutions including secure connectivity, cloud, and data center services, cyber security, IoT, advertising services, and cloud-based communication.

About CCI :

  • Established: 14 October 2003
  • Headquarters: New Delhi, Delhi, India
  • Current Chairman: Ashok Kumar Gupta
  • First Chairman: Dhanendra Kumar
  • Secretary : P K Singh
  • CCI is the chief national competition regulator in India & it is a statutory body within the Ministry of Corporate Affairs.

CURRENT AFFAIRS: DEFENCE NEWS

Indian Coast Guard (ICG) launches Centralized Payment System “PADMA”

  • Payroll Automation for Disbursement of Monthly Allowances (PADMA), an automated Pay & Allowances module for the Indian Coast Guard (ICG) was inaugurated by Shri Rajnish Kumar, Controller General of Defence Accounts (CGDA), Ministry of Defence

About PADMA :

  • PADMA is an automated platform or Centralized Pay System (CPS).
  • It leverages the latest technology which will provide seamless and timely disbursal of pay and allowances to around 15,000 ICG personnel.
  • This module has been developed under the aegis of the Defense Accounts Department and will be operated by the Pay Accounts Office Coast Guard, Noida, Uttar Pradesh.
  • The PayRoll Automation for Disbursement of Monthly Allowances system will strengthen the Digital India concept.
  • It is an ‘Atmanirbhar Bharat’ initiative because the whole module has been designed and developed by Indian entrepreneurs.
  • The CPS one-stop pay accounting solutions for all organizations under the MoD.

About ICG :

  • Founded: 1 February 1977 by the Coast Guard Act, 1978 of the Parliament of India.
  • Headquarters: New Delhi
  • Director-General: Virender Singh Pathania
  • The Indian Coast Guard (ICG) is the maritime law enforcement and search and rescue agency of India.
  • It operates under the Ministry of Defence.

About CGDA :

  • CGDA is the head of the Defence Accounts Department.
  • CGDA works under the Ministry of Defence.
  • It functions as a cadre controlling authority of the Indian Defence Accounts Services

About Ministry of Defence :

  • Defence Minister: Rajnath Singh
  • Minister of State: Ajay Bhatt
  • Secretary: Ajay Kumar

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

ISRO successfully launches the PSLV C-53 rocket carrying 3 Singaporean satellites from Satish Dhawan Space Centre at Sriharikota

  • Indian Space Research Organization (ISRO) launched the rocket PSLV-C53, carrying three Singapore satellites DS-EO, NeuSAR, and SCOOB-1 in intended orbit from the second launch pad of Satish Dhawan Space Centre at Sriharikota, Andhra Pradesh.
  • The rocket placed the three customer satellites in the precise orbit of 570 km with a 10-degree inclination.
  • This is the 55th mission of PSLV, often described as ISRO’s trusted workhorse, and the 15th one using the PSLV-Core Alone variant.
  • It also marks the 16th PSLV launch from the second launch pad.

About PSLV-C53 :

  • The PSLV-C53 is the second dedicated commercial mission of the space agency’s commercial arm NewSpace India Limited (NSIL).
  • It is a four-stage, 44.4 m tall PSLV-C53 that has a lift-off mass of 228.433 t.
  • The launch vehicle carried the DS-EO satellite along with two other co-passenger satellites.
  • The mission proposes to demonstrate the utilization of the spent upper stage of the launch vehicle as a stabilized platform for scientific payloads after the separation of the satellites.
  • The PSLV Orbital Experimental Module (POEM) activity performs in-orbit scientific experiments using the spent PS4 stage as an orbital platform.
  • It is the first time that the PS4 stage would orbit the earth as a stabilized platform.
  • POEM carries six payloads including two from Indian Space Start-ups M/s Digantara and M/s Dhruva Space, enabled through IN-SPACe and NSIL.

About 3 Singaporean Satellites :

About DS-EO :

  • DS-EO, a 365 kg, and NeuSAR, a 155 kg satellite both belong to Singapore.
  • PSLV Orbital Experimental Module (POEM)DS-EO carries an Electro-Optic, multi-spectral payload that will provide full-color images for land classification, and serve Humanitarian Assistance and Disaster Relief needs.

About NeuSAR :

  • NeuSAR is Singapore’s first small commercial satellite carrying a SAR payload, which is capable of providing images day and night and under all weather conditions.

About Scoob-1 :

  • Scoob-1 is a 2.8 kg satellite of Nanyang Technological University (NTU), Singapore.
  • It is the first satellite in the Student Satellite Series (S3-I), a hands-on student training program from the Satellite Research Center (SaRC) at Singapore’s NTU School of Electrical and Electronic Engineering.

About ISRO :

  • Established: 15 August 1969
  • Headquarters: Bangalore, Karnataka, India
  • Chairman: Sreedhara Panicker Somanath
  • ISRO is the national space agency of India.
  • It operates under the Department of Space (DOS)

CURRENT AFFAIRS: RANKS & INDEX

QS Best Student Cities Ranking 2023: London ranks the greatest metropolis for college students, and Mumbai tops in India

  • Quacquarelli Symonds (QS) has released the list of Best Student Cities ranking for 2023, with London (United Kingdom) emerging as the top city for students looking to study abroad.
  • India’s highest-ranked pupil metropolis is Mumbai at 103 spots which scored for affordability however struggles with pupil combination and desirability.
  • Bengaluru ranked at 114, Chennai and Delhi have made their entries 125 and 129, respectively.
  • The greatest pupil metropolis within the Arab Region is Dubai, which ranks 51st globally.
  • Buenos Aires takes Latin America’s highest spot, rating 23 on the earth.

Top 10 ranked cities in QS Best Student Cities Ranking 2023 :

  1. London, United Kingdom
  2. Seoul, South Korea
  3. Munich, Germany
  4. Zurich, Switzerland
  5. Melbourne, Australia
  6. Berlin, Germany
  7. Tokyo, Japan
  8. Paris, France
  9. Sydney, Australia
  10. Edinburgh, United Kingdom

About QS Best Student Cities Ranking 2023 :

  • QS ranks 140 cities worldwide.
  • The QS Best Student Cities Ranking gives college students impartial knowledge relating to a spread of things related to their examination choices: affordability, high quality of life, the usual of college, and the views of earlier college students who have studied in that vacation spot.

About Quacquarelli Symonds (QS) :

  • Founded: 1990
  • Headquarters location: London, United Kingdom
  • CEO : Nunzio Quacquarelli
  • Quacquarelli Symonds (QS) is specializing in the analysis of higher education institutions around the world.

India’s green bonds’ issuance 6th largest in the Asia-Pacific region

  • According to the Knight Frank Report, Active Capital Asia Pacific – Raising Capital in Uncertain Times India’s Green Bonds issuance increased 523 percent Year on Year (YoY), from $1.1 billion in 2020 to $6.8 billion in 2021.
  • Now, India is the sixth-largest country in APAC in terms of the total amount of green bonds issued in 2021.

Aim of the report :

  • To provide an insight into how the real estate market in Asia-Pacific performed historically and how it is predicted to play out in 2022, thereby acting as a guide for investors
  • The report highlights an important theme – Environmental, Social, and Governance (ESG) for investors that are looking to expand their ESG foothold in their portfolios.

Key Highlights :

  • The issuance of green bonds, which are fixed-income financial instruments used to finance projects that have positive environmental and or climate benefits, was negatively impacted by the pandemic in 2020.
  • However, it recovered in 2021, surpassing pre-pandemic levels and posting an increase of 116.9% from the $3.1 billion raised in 2019.
  • According to statistics provided by the Climate Bonds Initiative (CBI), APAC issued $126 billion in green bonds in 2021, with China issuing the largest amount, USD 68 billion, exceeding the combined value of the other APAC nations.

CURRENT AFFAIRS: OBITUARIES

Billionaire Ray-Ban Owner Leonardo Del Vecchio Passes away

  • Leonardo Del Vecchio, Billionaire Ray-Ban Owner Passed away in Milan, Italy at the age of 87.

About Leonardo Del Vecchio :

  • Leonardo Del Vecchio was born in Milan, Italy on May 22, 1935.
  • He founded his own company, Luxottica, in 1961, supplying the optical industry with components.
  • In 2018, Luxottica merged with France’s Essilor to become EssilorLuxottica, with Del Vecchio serving as chairman.
  • According to Forbes’ 2022 World’s Billionaires List, His fortune was worth an estimated $27.3 billion.
  • At the time of his death, his net worth was estimated at US$24.1 billion, the second richest person in Italy, and 54th in the world.

Additional Info :

  • Luxottica is the world’s largest producer and retailer of glasses and frames, with 77,734 employees and over 8,000 stores

Daily CA on July 03 & 04 :

  • Independence Day, also called the Fourth of July or July 4th, in the United States, is the annual celebration of nationhood.
  • The Central Government has approved a proposal of the Journalist Welfare Scheme Committee to provide financial relief to the families of 35 journalists who have lost their lives.
  • The Pradhan Mantri Formalisation of Micro Food Processing Enterprises, PMFME Scheme, under Aatmanirbhar Bharat Abhiyan, has completed two years.
  • In a sense, Prime Minister Shri Narendra Modi officially launched the new smart campus of Bosch India, a leading provider of technology and services in Bengaluru.
  • India hosted the 8th round of meetings with the heads of the border services of the competent authorities of the member states of the Shanghai Cooperation Organization (SCO) in New Delhi.
  • The Chief Minister of Himachal Pradesh Shri Jai Ram Thakur launched Naari Ko Naman’s scheme at the Government College Auditorium in Dharamshala in Kangra district, Himachal Pradesh.
  • Axis Financial institution has partnered with EazyDiner, a table reservation, food discovery, and restaurant payment platform, and have launched Dining Delights, an eating experience program for the bank’s customers.
  • Capital market regulator Securities Exchange Board of India (SEBI) gave an additional option of UPI (Unified Payments Interface) to retail investors to apply in the public issues of Real Estate Investment Trust (REITs) and Infrastructure Investment Trust (InvITs) for application value up to Rs 5 lakh.
  • Mr. Ferdinand Marcos Jr has been sworn in as the 17th & Current President of the Philippines until 2028 in a ceremony at the National Museum in Manila, Philippines & he succeeded the outgoing President Mr. Rodrigo Duterte.
  • Pinterest Inc. announced that co-founder, Chief Executive Officer, and President, Mr. Ben Silbermann will step down from his place and hand over the reins of the social media platform to Google commerce executive Mr. Bill Ready.
  • India’s biggest poker platform, PokerBaazi.com, has appointed Bollywood superstar Shahid Kapoor as its brand ambassador.
  • Former team India coach and cricketer Mr. Ravi Shastri have been appointed as the new brand ambassador for FanCode, a live content, sports statistics, and e-commerce marketplace.
  • India’s Goods and Services Tax (GST) collections in June this year surged 56% year-on-year to around 1.45 lakh crore rupees.
  • The Union Government has imposed a tax of six rupees per liter on exports of petrol and Aviation Turbine Fuel and 13 rupees per liter on exports of diesel.
  • Happiest Minds Technologies’ founder and executive chairman, Ashok Soota, has received the CII Quality Ratna Award 2021.
  • The Indian Institute of Entrepreneurship, Guwahati has signed an MoU with the Incubation and Enterprise Support Centre of the Indian Institute of Management Shillong in New Delhi to boost the entrepreneurial ecosystem in the North Eastern Region.
  • The Competition Commission of India (CCI) has approved Google International LLC’s (Acquirer) acquisition of a minority and non-controlling stake of 1.28% of the equity capital of Bharti Airtel Limited (target).
  • Payroll Automation for Disbursement of Monthly Allowances (PADMA), an automated Pay & Allowances module for the Indian Coast Guard (ICG) was inaugurated by Shri Rajnish Kumar, Controller General of Defence Accounts (CGDA), Ministry of Defence
  • Indian Space Research Organization (ISRO) launched the rocket PSLV-C53, carrying three Singapore satellites DS-EO, NeuSAR, and SCOOB-1 in intended orbit from the second launch pad of Satish Dhawan Space Centre at Sriharikota, Andhra Pradesh.
  • Quacquarelli Symonds (QS) has released the list of Best Student Cities ranking for 2023, with London (United Kingdom) emerging as the top city for students looking to study abroad.
  • According to the Knight Frank Report, Active Capital Asia Pacific – Raising Capital in Uncertain Times India’s Green Bonds issuance increased 523 percent Year on Year (YoY), from $1.1 billion in 2020 to $6.8 billion in 2021.
  • Leonardo Del Vecchio, Billionaire Ray-Ban Owner Passed away in Milan, Italy at the age of 87.

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