 French carmaker “Peugeot SA” and US-Italian “Fiat Chrysler” have signed an agreement to create the world’s fourth largest automaker. The binding combination agreement provides a 50/50 merger of their businesses to create the 4th largest global automotive original equipment manufacturer by volume and third largest by revenue. The combined revenue of the two entities will be close to 170 billion euros i.e. $190 million. The combined entity will have a workforce of more than 4,00,000. The combined group would be headquartered in the Netherlands. Fiat Chrysler’s chief John Elkann will be the chairman and PSA’s Carlos Tavares chief executive of the new entity. |
| Source: The DD News |
 The Indian Navy, in collaboration with Indian Coast Guard, Cochin Port Trust and all other concerned stakeholders, conducted a large-scale anti-hijacking exercise off the Port of Kochi. The Exercise code-named “Apharan” saw the participation of multiple agencies, including more than 12 ships and helicopters of the Indian Navy, Indian Coast Guard and Cochin Port Trust. Apharan was aimed at streamlining the response mechanism/preparedness to thwart any attempt by anti-national elements to hijack a merchant’s vessel or attempt forced entry of a rogue/commandeered merchant vessel into the Kochi harbour. |
| Source: The Business Standard |
 Odisha Chief Minister Naveen Patnaik has launched the ‘Jalsathi’ programme to ensure supply of safe drinking water to all households in the state. The Odisha CM also launched the ‘JalSathi’ App on the occasion. The Water Corporation of Odisha (WATCO) signed a memorandum of understanding with the women federations in Bhubaneswar for the implementation of the programme. The JalSathi initiative aims to ensure the supply of clean drinking water to consumers through piped water connections. |
| Source: The News on AIR |
 HDFC Bank has become the 3rd Indian firm to cross $100 billion mark in market capitalisation. HDFC Bank has joined the league of Reliance Industries Ltd, which has a market cap of $140.74 billion, and Tata Consultancy Services (TCS) that has a market cap of $114.60 billion. With this achievement, HDFC Bank is now ranked 110th in the list of world’s most valued companies. Among the world’s most valued banks and financial companies which have a market cap of over $100 billion, HDFC Bank is ranked at 26th position. |
| Source: The Live Mint |
 The Union government has launched National Broadband Mission to provide Broadband access to all villages by 2022. The mission aims to connect 600,000 villages across India with an investment of Rs 7 lakh crore in the next 4 years from both government and private sector. The mission is a part of the National Digital Communications Policy, 2018. The mission will secure universal broadband access for implementation of broadband initiatives and aims to offer Internet speed upto 50 Mbps in a phased manner. According to the government, 10% of the funds will come from Universal Service Obligation (USO) Fund and the remaining will come from industry in the form of towers and other assets. |
| Source: The Live Mint |
 The Reserve Bank of India (RBI) has waived NEFT, RTGS transfer charges for savings account holders. In an order, RBI instructed banks to make all online payments done through RTGS and NEFT free of cost for savings account holders. The new rule will be effective from January 1, 2020. |
| Source: The Live Mint |
 British Prime Minister Boris Johnson has won the historic UK General Election as his Conservative Party crossed the magic number of 326 required for a majority in the Parliament. He is re-elected as a Prime Minister of UK. Johnson won the historic election as his Conservative Party crossed the 326-mark required for a majority in Parliament. The latest projections put the Johnson-led Conservatives at around 365, but the party can safely celebrate its victory as it comfortably crossed over the half-way finish line for the 650-member House of Commons. The Opposition Labour party is projected to get 203 seats, a disastrous performance for the party which resulted in leader Jeremy Corbyn announced that he would be stepping down. |
| Source: The BBC |
 The Laura Alexandra Marsh, England cricketer announced her retirement. Laura has won three World Cups in her 13-year career, she made her debut in 2006 as a seamer, later on, she switched to spin. She has represented England in 103 ODI’s (One Day International), 67 T20’s and 9 Tests and has taken 217 wickets in her career. She is also England’s 3rd highest wicket-taker in ODI cricket. Laura Marsh was awarded a full central contract by the England and Wales Cricket Board (ECB) in February 2019. She played in her 100th women’s One Day International (WODI) match against West Indies in June 2019. |
| Source: The Hindu |
 Sridhar Patra was appointed as the chairman-cum-managing director of National Aluminium Company Ltd (NALCO). He is at present Director (Finance) in NALCO. He has been appointed as the CMD of NALCO till the date on October 31, 2024. Sridhar Patra replaced Tapan Kumar Chand from the post. |
| Source: The Business Standard |
 The state police of Gujarat were honoured with ‘President’s colours’. The Gujarat police were presented with the President’s colours by Vice President of India Muppavarapu Venkaiah Naidu in Gandhinagar, Gujarat. They were presented the president’s colours for their outstanding services. It is the highest honour given to a police force in India. The previously awarded states were Madhya Pradesh, Uttar Pradesh, Delhi, Jammu and Kashmir, Tripura and Assam. The president’s colours is also known as ‘Nishaan’ which is an emblem that will be worn by all police officers on the left-hand sleeve of their uniform. |
| Source: The Business Standard |
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