 A WTO Ministerial meeting of developing countries is being hosted by India in New Delhi. Sixteen developing countries, Six Least Developed Countries (LDC) (Argentina, Bangladesh, Barbados, Benin, Brazil, Central African Republic, Chad, China, Egypt, Guatemala, Guyana, Indonesia, Jamaica, Kazakhstan, Malawi, Malaysia, Nigeria, Oman, Saudi Arabia, South Africa, Turkey, Uganda) and DG, WTO participated in the meeting. Ministers from Bangladesh, CAR and South Africa have confirmed their participation. Vice Ministers, senior officials and ambassadors will be representing other countries. The two-day meeting was interactive in order to provide an opportunity to the Ministers to discuss various issues and the way forward. |
| Source- PIB |
 Reliance Industries Ltd. (RIL) acquired British toy retailer ‘Hamleys’ in an all cash deal. RIL has acquired Hamleys in 67.96 million pounds (about Rs. 620 cr). With this announcement, Reliance will get hold of 100% shares of Hamleys Global Holdings Limited (HGHL). |
| Source- Business Standard |
 Facebook has chosen London as the centre for the global roll-out of WhatsApp pay,before the social media giant launches its digital payments service on the mobile messaging platform in India. WhatsApp would hire nearly 100 people in London to focus on the digital payments service and additional operations staff would be hired in Dublin. Facebook chose UK because it attracts a multicultural workforce from many of the countries where WhatsApp is widely used, such as India. |
| Source- Business Standard |
 The Indian Army is commemorating this year as the ‘Year of Next of Kin’ and plans to reach out to the next of kin of battle casualties, ex-servicemen and serving soldiers to inform them of entitled financial benefits, welfare schemes and help resolve pension-related problems. The Directorate of Indian Army Veterans will be the nodal agency. |
| Source: Economic Times |
 Singapore’s Parliament passed a law to curb the spread of fake news under which offenders may face up to 10-year jail or fines of up to S$1 million (over Rs5.12 crore). The law empowers the government to direct social media platforms such as Facebook and Twitter to carry corrections or remove content it considers to be fake news. |
| Source- AIR World Service |
 India Ratings has downgraded the YES bank’s long-term rating to ‘IND AA-’ with a negative outlook, while reaffirming short-term rating. ICRA has also downgraded the long-term ratings of the lender. Accordingly, six instruments with a total borrowing of over Rs 33,000 crore were also downgraded. Yes Bank had also reported its maiden loss of over Rs 1,506 crore in the March 2019 quarter, driven by a near 10-fold spike in provisions. |
| Source- The Hindu Business Line |
 India was re-elected as Observer to the Arctic Council, an intergovernmental forum. The decision was taken during the 11th Arctic Council ministerial meeting at Rovaniemi, Finland. The Council also appointed the International Maritime Organisation (IMO) as a new Observer. India successfully got the Observer status in 2013 during the Kiruna Ministerial meeting held in Sweden. |
| Source- The Livemint |
 Vice President of India Venkaiah Naidu embarked on a four-day official visit to Vietnam to participate in 16th United Nations Day of Vesak. The visit is scheduled to enhance India’s comprehensive strategic partnership with the Southeast Asian nation. During the visit, VP will deliver the keynote address at the inaugural session of the event themed as “Buddhist Approach to Global Leadership and Shared Responsibilities for Sustainable Societies.” |
| Source- News On AIR |
 Tractor-manufacturer Tractors and Farm Equipment (TAFE) Ltd has signed an MoU with Petroleum Conservation Research Association (PCRA) to aid conservation of resources. Under the MoU, the association plans to jointly conduct agricultural workshops by involving TAFE’s dealership network. The workshop would help spread awareness on the advantages of better maintenance and upkeep of the tractors, resulting in lesser fuel consumption and maximising productivity, among others. |
| Source- Business Standard |
 The Sunil Mittal led telecom major Bharti Airtel and Hughes Communications India (HCIL) have decided to combine their VSAT (Very Small Aperture Terminal) satellite communications operations in India. The transaction is subject to approvals by relevant authorities. HCIL is the India unit of Hughes Network Systems, LLC, the global leader in broadband satellite networks and services. VSAT refers to the provision of data services using satellites and is used extensively by banks and ATMs. Hughes will have majority ownership in the combined entity and Airtel will have a significant shareholding. |
| Source: Business Standard |
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