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June 09, 2017

Current Affairs Roundup 2017 - Firms in News

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Current Affairs Roundup 2017 - Firms in news

"Areo" App
  • Internet giant Google has launched an app "Areo" that will aggregate all hyperlocal ser-vices and food delivery apps in the country. This is the first time that Google is entering the business of food delivery and home services in India. Google - Areo is an accreditor that provides services through other startups in the domain.
Fire TV Slick
  • The global e-commerce major 'Amazon' has launched the 'Amazon Fire TV Sock' with Voice Remote in India. Fire TV Stick is the powerful streaming media device that plugs into an HD Television and lets customers access thousands of movies, TV shows, apps, and games. It will compete with devices like Google Chromecast, Amkette's EvoTV and Apple TV. 
  • Flipkart-owned online fashion retailer 'Myntra' has announced that it has acquired 'InLogg'. (InLogg is a city-based technology platform Nat provides end-to-end logistics solutions for the e-commerce sector. Now, Myntra will be able to strengthen its logistic capability with an expanded reach and improved customer experience. 
  • Note : 'InLogg' was founded in 2015 by a team with an aim to standardize the process of logistics in remote areas and bring in efficiency.
Copyless Paste
  • Google has introduced the first code for its new feature 'Copyless Paste' in its Chrome app running on Android OS. The Copyless Paste feature will take data from Chrome usage and use that to improve the experience in other apps. Copyless Paste feature will automatically copy the useful information and will suggest it for pasting in apps where it might be relevant. Presumably 'Copyless Paste' will arrive in the next few months. 
  • The founder of Wikipedia 'Jimmy Wales' is going to launch a news site "Wikitribune" to tackle the spread of false information. The site will be jointly run by journalists and a community of volunteers who will verify the stories before publishing them. The site will ensure that journalists only write articles based on facts that they can verify. 
Highest Salaries
  • According to a survey by human resources service provider Randstad, Employees of the Fast Moving Consumer Goods (FMCG) industry receive the highest salaries in India at Rs.11.3 lakh a year as the average annual cost-to-company (CTC) across all levels and functions. The FMCG sector is followed by power and information technology, where employees earn average annual salaries of Rs.9.8 lakh and Rs.9.3 lakh respectively, according to Randstad 2017 Salary Trends Study findings. 
Apollo tyres
  • Apollo tyres commissioned its 475 million euro (nearly R83,460 crore) first Greenfield manufacturing facility out of the country near Budapest in Hungary.
  • Google India has been named the most 'attractive employer brand', followed by Mercedes-Benz, according to the latest sur-vey by HR fum, Randstad. This also makes Google India the winner of the Randstad Award third year in a row. 
  • Almost 41% of the samples collected from 386 mines of Coal India Ltd. have been downgraded after an analysis of 871 sam-ples by the Coal Controller's Organisation.
Khel Yatra
  • SpiceJet unveiled 'Khel Yatra' for the under-privileged children in Delhi as its chief spon-sor. An interschool 100 meter athletic compe-tition Khel Yatra is a special initiative support-ed by the airline to identify and appreciate young budding talents from the underprNi-leged sections of the society. 
  • India's largest online retailer Flipkart has raised a total of $1.4 billion from China's Tencent, U.S. - based ecommerce firm eBay and software maker Microsoft. The Bengaluru-based firm will also buy eBay's India business as pal of the transaction. 
Cairn India
  • In April, 2017 Cairn India has completed its merger with Vedanta. This merger consoli-dates Vedanta's position as one of the worldis largest diversified natural resources companies, with world-class, low-cost assets in metals & mining and oil & gas. 
High Speed Diesel 
  • Assam based Numaligarh Refinery Limited (NRL) and Bangladesh Petroleum Corporation (I3PC) has signed a sale-pur-chase Agreement for supply of High Speed Diesel (HSD) through the proposed 131 km Indo-Bangla friendship pipeline. The pro-posed Indo-Bangla Friendship pipeline from NRL's Marketing Terminal in Siliguri to BPC's Depot at Parbafipur.
Infosys co-chairman
  • Infosys announced the appointment of independent board member Ravi Venkatesan as co-chairman. Mr. Venkatesan, a former chair-man of Microsoft India, has been on the Infosys board since April 2011. 
Capacity Expansion
  • A memorandum of understanding was signed for the capacity expansion of the Numaligarh Refinery in Assam. The MoU was signed among Paradip Port Trust, Indian Oil CorporationLimited and Numaligarh Refinery Limited. Under the expansion project, a 28-inch diameter and 1400-kilometre-long crude oil pipeline of 1 MMTPA capacity will be laid for transporting 8 mmtpa of imported crude oil from Paradip Port in Odisha to Numaligarh in Assam.
ABB India
  • ABB India has bagged a contract worth Rs.178 crore from Power Grid Corporation of Bangladesh (PGCB) for setting up two new sub-stations and upgrading two existing ones. 
Fino Paytech 
  • Payments Technology Company and soon-to-be-launched payments bank Fino Paylech to facilitate NABARD to help the rural bank digitization drive in the states of Haryana, MP, Bihar, Gujarat and Maharashtra. Fino will pro-vide over 5000 Aadhaar enabled micro ATMs and financial inclusion gateway services to district central cooperative (DCC) banks and Primary Agricultural Credit Sodeties (PACS) across these states. 
Bhilai Steel Plant
  • The Steel Authority of India Ltd.'s Bhilai Steel Plant (BSP) has added a Universal Rail Mill (URM) as part of its effort to scale up capac-ity at BSP to 7 million tonnes of crude steel per annum. 
Service Delivery Centre 
  • Rolls-Royce announced the opening of its Defence Service Delivery Centre (SDC) in Bengaluru aimed at offering localised engineering support to improve frontline capabili-ty of Indian armed forces and HAL The SDC, which is the company's first delivery centre in Asia, is co-located with the Rolls-Royce Engineering Centre.
Brigade Hospitality Services
  • Brigade Hospitality Services Ltd., (BHSL) a subsidiary of real estate developer Brigade Group, announced to set up World Trade Centre in Chennai and invest up to Rs.700 crore for developing five properties into hotels in Karnataka, Kerala and Gujarat. 
Thermal Power Project 
  • Bharat Heavy Electricals Limited has bagged its largest ever export order, valued at Rs.10,000 crore for setting up a thermal power project in Bangladesh. The order has been secured from Bangladesh India Friendship Power Company (Pvt) Limited (BIFPCL), a 50 : 50 joint venture of NTPC and Bangladesh Power Development Board (BPDB).
Google Translate
  • Google has unveiled a new set of products and features for Indian languages to better serve the needs of Indians who were coming online rapidly. Google Translate will use a new Neural machine translation technology' to translate between English and nine widely-used Indian languages, including Tamil, Kannada, Malayalam, Telugu, Hindi, Punjabi, Bengali, Marathi and Gujarati.
Engineering Footprint
  • IT services major Infosys announced it was strengthening its engineering footprint in Eastern Europe by opening its first delivery centre (DC) in Karlovac, Croatia. The new facility will meet near-shoring requirements, support engineering clients worldwide as well as offer R&D services.
Largest Vaccine
  • Cyrus Poonawala-led Serum Institute of India (SII), the world's largest vaccine manufactur-er by number of doses produced and sold globally, has acquired the Czech Republic-based bio-pharmaceutical development and manufacturing firm Nano therapeutics for '72 million. This makes $11 the largest injectable polio vaccine manufacturer in the world. 
Global quality centre
  • Hyundai Motor India inaugurated its global quality centre in India. The India Quality Centre in Faridabad, which is the fifth such centre for Hyundai globally after U.S., Europe, China and the Middle East, was built at an investment of about Rs.30 crore.
Tier II towns
  • Google India is taking a version of its Launchpad Accelerator program to Tier II towns in India through the solve for India pro-gram. The program was kicked off in Pune with a set of local entrepreneurs and will be taken to ten more cities over the course of the year.
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