Latest Current Affairs For Tuesday 31st May, 2022

World's richest man, Elon Musk was 2021's highest paid CEO

According to the Fortune 500, the world’s richest man, Elon Musk was the top-paid chief executive officer (CEO) in 2021. He has received a salary of around $23.5 billion.

Tim Cook, Apple with USD 770.5 Million placed at second followed by Jensen Huang, NVIDIA (USD 561 Million); Reed Hastings, Netflix (USD 453.5 Million); Leonard Schleifer, Regeneron Pharmaceuticals (USD 452.9 Million).

Microsoft CEO, Satya Nadella with USD 309.4 Million placed at seventh position.

Kuwait to build world's largest petroleum research centre

Kuwait is planning to build the world's largest petroleum research centre by the end of the year (2022).

The research centre will have 28 Laboratories and built in al-Ahmadi, south of Kuwait City.

The project will seek to develop improved production and refining techniques which can be used by the industry for different applications (include: extraction of heavy crude and non-associated gas).

Kuwait is a country which is highly-dependent on oil revenue.

WHO honoured Jharkhand for efforts in controlling tobacco consumption

The World Health Organization (WHO) has selected Jharkhand for the World No Tobacco Day (WNTD) Award-2022 for recognising its efforts in controlling tobacco consumption.

The award will be received by the Stata Tobacco Control Cell of the Health Department on the occasion of World No Tobacco Day (31 May).

National Tobacco Control Programme (NTCP) was launched in Jharkhand in 2012 when the tobacco prevalence rate in the state was 51.1%.

Gujarat becomes the first state to deliver the India Post mail by drone

For the first time in the country, The Department of Indian Posts has delivered mail using a drone as part of a pilot project in Gujarat's Kutch district.

This attempt was done by the drone from Habay village in Bhuj taluka to Ner village in Bhachau taluka of Kutch district by the postal department under the guidance of the Union Ministry of Communications.

It took 25 minutes to deliver the parcel to the destination located 46 km from the originating point.

Red Bull's Sergio Perez wins 2022 Monaco Grand Prix

Sergio Perez (Red Bull) has won Formula One Monaco Grand Prix after defeating Carlos Sainz Jr. (Ferrari). It was Perez’s first win of the season

Mexican's Max Verstappen (Red Bull) has finished third, Leclerc at fourth.

Max Verstappen has clinched the title of Spanish Grand Prix, Miami Grand Prix, Emilia Romagna Grand Prix, Saudi Arabian Grand Prix, Abu Dhabi Grand Prix.

Australia Grand Prix: Charles Leclerc

Bahrain Grand Prix: Charles Leclerc

WHO partners with Rajasthan to create health account

Rajasthan becomes the first state to attempt systematize of health accounts to track and monitoring of health expenditures over time and can serve as an important tool for evidence based policy making.

This project of Rajasthan will be aid by the WHO India country office by providing technical and financial support for conducting the first round of health accounts.

The state government has allocated more than 7% of the total budget for health.

Legendary jockey Lester Piggott dies at 86

Nine times Derby winner, legendary Lester Piggott has died aged 86.

Piggott was partially deaf, has won the Derby at Epsom for the first time in 1954 and ninth win came on Teenoso in 1983.

He also had 116 Royal Ascot victories and was named champion jockey 11 times between 1960 and 1982.

His career first trophy came at the age of 12 at Haydock in 1948, and he last won in 1994 at the same track.

He announced his retirement in 1995.

Nawazuddin Siddiqui honoured with Excellence in Cinema at French Riviera

Nawazuddin Siddiqui has received the Excellence in Cinema award at the French Riviera Film Festival.

He was received the honour from the two-time Emmy winner American actor-producer, Vincent De Paul.

Prior to this, he was chosen as one of the delegates to receive awards on behalf of the nation at the Cannes Film Festival.

He is the only actor in the cinema world to have eight films officially selected and screened at the Cannes Film Festival.

Pope Francis elevates archbishops of Goa and Hyderabad to cardinal rank

Pope Francis will create 21 new Cardinals which include two Cardinals from India, Archbishop Filipe Neri António Sebastião di Rosário Ferrão (Archbishop of Goa and Damão)  and Archbishop Anthony Poola (Archbishop of Hyderabad).

The elevated ceremony will be held at the Vatican on August 27, 2022.

These cardinals represent the Church worldwide, and reflect a wide variety of cultures, contexts and pastoral ministries.

Single-Pick Cotton Pilot Project will launch by the Telangana Govt

The Telangana Government will launch a pilot project on single-pick cotton on about 50,000 acres.

Currently, the farmers pick cotton bolls at least three to four times, this method will help the farmers to extend the harvest by a few weeks and allow farmers to complete the harvest all at once.

Single-pick cotton: Cotton varieties that flower at one time and boll bursting happens at the same time.

Telangana Governor: Tamilisai Soundararajan;

CM: K. Chandrashekar Rao

Real Madrid beat Liverpool to win UEFA Champions League Final 2022

Real Madrid has become the European champion for a record-extending 14th time after defeating Liverpool by 1-0 in a Champions League final.

The Real Madrid has claimed their fifth Champions League trophy in nine seasons.

The player of the match: Goalkeeper Thibaut Courtois (9 Saves), Real Madrid

The first UEFA Champions League was organized in 1955-56 when it was called the European Cup and in 1992-93, it became the champions League.

Gujarat Titans defeat Rajasthan Royals to win IPL 2022 title

Gujarat Titans has won the Indian Premier League (IPL) champions 2022  after defeating Rajasthan Royals by 7 wickets in the final at Narendra Modi Stadium, Ahmedabad.

Aramco Purple Cap: Yuzvendra Chahal (27 Wickets)

Aramco Orange Cap: Jos Buttler (863 Runs)

Player Of The Match: Hardik Pandy

Upstox Most Valuable Player: Jos Buttler

Punch Super Striker Of The Match: David Miller

Dream11 Game Changer Of The Match: Hardik Pandya

Tata IPL Catch Of the Season: Evin Lewis

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.