Hello friends, today we are going to continue our current affair series, so let's start.
1. Indian automobile maker Mahindra and Mahindra is looking for financial or strategic investors for Mahindra Electric, the group's electric vehicle (EV) business. The firm wants to be a key player in mass market EVs, MD Pawan Goenka said. The company is also aiming for the high-end market through it's Europe based Automobili Pininfarina unit which is building Battista, an electric sports car.
2. China on Monday in post sanctions on 11 US citizens, including 6 American lawmakers, for their egregious behaviour on Hongkong related issues. The targeted lawmakers are senators Ted Cruz, Macro Rubio, Tom Cotton, Josh Hawley, and Pat Toomey and representative Chris Smith. notably the move comes after the US impost sanctions against 11 Hong Kong and Chinese officials last week.
3. An Indonesian volcano bursted and as cloud 5 km into the sky on Monday in its second eruption in 3 days,a said. Footage of the eruption captured by residents showed the cloud of thick as rising from the peak of the 8071 feet Mount Sinabung. The sound was like thunder it lasted for less than 30 seconds resident said.
4. Apple has filled notice of opposition against meal preparation app 'Prepear' over its cartoon par logo claiming that it is similar to Apple's trademarked logo. Apple claims Prepear's logon would cause a dilution of distinctiveness of apples logo and confuse the users between the two companies. Apple is arguing that it is a violation of lanham act.
5. Ahead of Rajasthan assembly session scheduled to begin on August 14, CM Ashok Gehlot on Sunday, wrotw to all MLAs appealing to them to listen to the people's voice to save democracy and to stand by truth. people's mandate remains over and above everything you should extend full cooperation in filling promises made to the people, write Gehlot.
6. The World Bank expressed its inability to take an independent decision on the appointments of a neutral expert or a coat of arbitration for the settlement of a India-Pakistan water dispute over hydroelectric projects. It's outgoing country director of Pakistan, Patchamuthu Illangoan, said the country should choose one option bilaterally. World Bank is signatory to the Indus water treaty.
7. Mukesh Ambani's Reliance industries has a 15 year vision to build itself as one of the world's leading new energy companies, analysts said. It intends to use proprietary technology, recycle CO2 and create value from plastic waste, analysts at Bank of America securities said. RIL's core oil to chemical business is well placed to generate sustained free cash flow, they added.
8. Baba Ramdev Patanjali is considering building for the Indian Premier League or IPL title sponsorship following the exit of Chinese smartphone maker Vivo, according to a report by The Economic Times. "We are considering the IPL title sponsorship for this year, since we want to give the Patanjali brand a global marketing platform", Patanjali spokesperson SK Tijtawala told The Economic Times.
9. Saudi Aramco CEO Amin Nasser said the world's largest crude oil producer is still working on a deal for a 15 billion dollar investment in Reliance industries oil-to-chemicals business. In July, RIL chairman Mukesh Ambani said that deal is not in progressed and as per original timeline due to " unforeseen" circumstances in energy market and Covid-19 situation. Aramco Was set to acquire a 20% stake.
10. Saudi Aramco's profit plunged by 73.4% in the June quarter, Amid slump in energy demand and oil prices due to the coronavirus crisis. The world's biggest oil exporter posted a quarterly net profit of 6.57 billion dollars, compared to 24.7 billion dollars in the year-ago period. However, the company said it still plans to pay 75 billion dollars in dividends this year.
11. After Congress leader Rahul Gandhi described the daft environment impact assessment (EIA) as a "disaster", environment minister Prakash Javadekar said that those raising objections to the draft (EIA) notifications are the same people who talk with "big decisions without consultations" when they were in power. The minister added that Gandhi's call for protest is unnecessary and premature.
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