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Current Affairs on Companies

Current Affairs 17 March 2015

US real estate investor Blackstone Group announced on 16 March 2015 that it is buying the iconic 110-story building in Chicago, the second-tallest building in the United States. What is the name of the building?: Willis Tower

Explanation: Willis Tower is currently ranks tenth, according to The Skyscraper Center however it is known for most of its existence as the Sears Tower, the 442 meter (1,451 foot) building was the tallest building in the world for a quarter-century after its completion in 1973 till the title of the tallest building in the United States went to One World Trade Center in New York, completed two years ago. The purchase adds 3.8 million square feet of space (350,000 square meters) to New York-based Blackstone`s huge investment portfolio of real estate and related businesses around the world, including Hilton Worldwide, Invitation Homes, and Chinese shopping malls owner SCP.

Current Affairs 16 March 2015

Expanding the footprint in the brick-and-mortar retail market through Mom & Me brand, Mahindra Retail plans to integrate its entire e-commerce business into which entity/ecommerce website?: Babyoye.Com

Explanation: “Mom and Me” sells a range of maternity and babycare items through the Mom & Me chain, plans to add another 50 such stores next fiscal, while its website www.Momandmeshop.in will be discontinued after getting integrated with Babyoye.Com by the next quarter. After this step Mahindra Retail will also have a common loyalty programme for both Mom & Me and Babyoye.Com

Posted on: 16th March 2015 Read complete Article →

Telecom major Bharti Airtel's business-to-business service arm on 15 March 2015 has partnered with which company to allow their customers connect with each other for video conferencing facility national and international?: France-based Orange Business Services

Explanation: Orange Business Services is present in Europe, Middle East and Africa, Asia Pacific, Australasia, North America, Latin America and Russia and claims to have an enterprise customer base of 236 million worldwide. However, this partnership is first ever B2B deal of Orange with an Indian company in video conferencing space. While there are many free web-based video conferencing solutions available in the market, the large multinational companies prefer to use dedicated audio-video conferencing facility for their business needs.

Current Affairs 14 March 2015

Which Leading conglomerate has decided to increase prices of cigarette brands like Classic and Gold Flake Kings by up to 15 per cent per pack following the hike in excise duty on cigarettes in the Budget 2015-16?: ITC

Explanation: This year budget had levied more tax on Tobacco and Tobacco products. Excise duty on cigarettes is being increased by 25 percent for cigarettes of length not exceeding 65 mm and by 15 per cent for cigarettes of other lengths. ITC is India's largest cigarette manufacturer. ITC's cigarettes with revised prices are expected to hit market by end of the next week thus now Gold Fake regular is likely to be priced at Rs 78 for a pack of 10 cigarettes as against Rs 68 ( up 15%) while Navy Cut brand is expected to be priced at Rs 78 for packs of 10 cigarettes pack, up 12 percent from Rs 70 now. As per the Budget proposals, excise duty on cut tobacco is being increased to Rs 70 per kg from Rs 60 per kg earlier.

Posted on: 14th March 2015 Read complete Article →

Current Affairs 13 March 2015

Apple on 12 March 2015 apologized to its users after a major outage of its online services, affecting customers worldwide. Which all services were affected during this outage?: App Store, iTunes, iBooks store and Mac App store

Explanation: Apple, tech giant`s status page showed the App Store, iTunes, iBooks store and Mac App store went down from 0900 GMT and were still offline at 1900 GMT. Apple`s iCloud and mail services were also down, but appeared to have been restored after around four hours. The Next Web, the international technology news site, said it had reports of outages affecting more than 40 countries.

Posted on: 13th March 2015 Read complete Article →

Current Affairs 12 March 2015

Which Indian Tech Firm on 11 March 2015 announced the launch of its 'bitcoin' mobile wallet in India?: Zebpay

Explanation: Bitcoins are digital money that are generated and their value is determined based on their demand and supply. The Zebpay wallet is in form of a mobile application and will help its user to buy, sell and transact in bitcoins. The Bitcoins present value is at around USD 280 per unit in India. Zebpay application is currently available on Android platform though iOS version will be launched in 15 days. Zebpay co-founder Sandeep Goenka has told that only 21 million bitcoins can be generated globally and they can be traded even in fractions, up to eight decimals. However, Reserve Bank of India has earlier issued a warning against dealing in bitcoin and other virtual currencies due to various risks, including those related to money-laundering and cyber security, as such digital currencies are not backed by any assets or monetary authorities  

Posted on: 12th March 2015 Read complete Article →

On 11 March 2015 two public sector undertakings (PSUs) were added to the list of sick PSUs adding to 65 units in the list of sick PSUs as on 31 March 2014. Which two PSUs are these?: Air India and MTNL

Explanation: Air India market leaders in aviation and MTNL market leaders in mobile telephony sectors, were declared sick as per the criteria for a PSU to be declared as such, after they incurred losses worth 50% or more of their average net worth during four preceding years. Government had also announced that it will close down 5 PSUs that include three HMT units. 

With which financial entity Indian Railways on 11 March 2015 signed a Memorandum of Understanding (MoU) that will raise Rs. 1.5 lakh crore worth of funds to finance its infrastructure. Thus become sor the largest-ever funding in Railways’ history?: Life Insurance Corporation of India (LIC)

Explanation: LIC will make financial assistance in a form of investment in bonds issued by various railway entities such as Indian Railways Finance Corporation (IRFC), beginning next fiscal. Thus with this investment by LIC will make investment limit of Rs. 1,50,000 crore over the next five years for implementing its infrastructure projects from the financial year 2015-16. This investment in railways will help to use the funds to augment its capacity. There would be a five-year moratorium in interest and loan repayment and the bonds will have a tenor of 30 years.

Current Affairs 11 March 2015

1. Which Indian company is the largest in India in terms of assets as disclosed by the recent data compiled by the Corporate Affairs Ministry followed by the by state-owned Indian Oil Corp and mortgage lender HDFC?: Reliance Industries Ltd (RIL)

Explanation: The total reported value of the assets of all the 4,15,886 companies was Rs 117.08 lakh crore and the share of top ten companies in the total value of assets was 15.3 percent on March 31, 2014. Among them, RIL is the country’s largest corporate with assets worth Rs. 3.68 lakh crore, followed by state-owned Indian Oil Corporation (IOC) at Rs. 2.52 lakh crore and mortgage lender (Housing Development Finance Corp (HDFC) at Rs. 2.25 lakh crore. Other top ten entities are Power Finance Corp (4), NTPC (5), Rural Electrification Corp (6), Power Grid Corp (7), LIC Housing Finance (8), Steel Authority of India (9) and Bharat Sanchar Nigam Ltd (10). Power Finance Corp’s assets stood at Rs. 1.94 lakh crore, NTPC (Rs. 1.80 lakh crore), Rural Electrification Corp (Rs. 1.53 lakh crore), Power Grid Corp (1.40 lakh crore), LIC Housing Finance (Rs. 95,777 crore), Steel Authority of India (Rs. 91,962 crore) and Bharat Sanchar Nigam Ltd (Rs. 89,333 crore). 

Posted on: 11th March 2015 Read complete Article →

Current Affairs 10 March 2015

1. Which Indian company has been recognized as the world`s most ethical company by US-based Ethisphere Institute for the 4th (fourth) consecutive year on 9 March 2015?: Wipro

Explanation: The assessment was done, vetted and refined by the expert advice and insights from Ethisphere`s network of thought leaders. The recognition is based upon the Institute`s ethics quotient (EQ) framework developed over years of research to provide a means to evaluate a company`s performance in an objective and consistent way.

Posted on: 10th March 2015 Read complete Article →
Posted on: 10th March 2015 Read complete Article →
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