Current Affairs – May 05 2023
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Current Affairs – May 05 2023
1. JPMorgan Acquires First Republic Bank Amidst Recent Failures of Major US Banks
American regulators announced that First Republic Bank had been taken over and that an agreement had been reached to sell the bank to JPMorgan Chase & Co. This marks the third major U.S. financial institution to fail in just two months.
JPMorgan is set to acquire $173 billion in loans and around $30 billion in securities, which includes $92 billion in deposits from First Republic Bank, but they are not taking on the bank’s corporate debt or preferred stock.
2. World Portuguese Language Day 2023 observed on 5th May
The 40th session of UNESCO’s General Conference, in 2019, designated May 5th as “World Portuguese Language Day,” in honor of the Portuguese language and Lusophone cultures.
The Community of Portuguese-speaking Countries (CPLP), an intergovernmental organization that includes countries where Portuguese is spoken, established this date in 2009, and has been in official partnership with UNESCO since 2000.
3. International Firefighters’ Day 2023 observed on 04th May
International Firefighters Day is a day dedicated to recognizing and honouring the brave individuals who put their lives on the line every day to save others.
These firefighters demonstrate courage, strength, and selflessness as they work tirelessly to protect their communities, often putting themselves in harm’s way. On May 4th each year, we have the opportunity to express our gratitude and appreciation for their unwavering commitment to keeping us safe from fires and other hazards.
4. Polavarapu Mallikharjuna Prasad to be next Coal India chief
The Public Enterprises Selection Board (PSEB) recommended Central Coalfields CMD Polavarapu Mallikharjuna Prasad as the next Chairman and Managing Director of Coal India (CIL). Prasad is expected to take the charge of India’s largest coal miner accounting for almost 80 per cent of the mined commodity from July 1.
A mining engineer from Osmania university, Prasad took over as the CCL CMD on September 1, 2020, and has more than three decades of experience in the mining sector. He is credited for the diversion of Nallah at Hingula opencast area to unlock coal reserve of 26 million tonnes (MT) in FY15 and the commencement of a new railway siding at the Talcher Coalfields.
5. Dubai becomes the host for the inaugural edition of the Global Chess League
Global Chess League (GCL), a joint venture between FIDE and Tech Mahindra, announced Dubai as the venue for the inaugural edition.
In the presence of key dignitaries such as Dr. Aman Puri, Consul General of India, Dubai, Viswanathan Anand, five-time world chess champion, and Deputy President, FIDE, CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, Parag Shah, EVP & Head, Mahindra Accelo and Member, Global Chess League Board, and Jagdish Mitra, Chairperson, Global Chess League Board, in the Gulf city.
6. India, Israel sign MoU for industrial research and development cooperation
India and Israel have signed a Memorandum of Understanding (MoU) on industrial research and development cooperation, marking a significant milestone in their scientific and technological partnership, the Ministry of Science & Technology said.
The collaboration aims to enable joint industrial research and development projects in various high-tech fields such as artificial intelligence, quantum and semiconductors, synthetic biology, healthcare, aerospace, sustainable energy, and agriculture, among others.
