DAILY CURRENT AFFAIRS

By admin: Aug. 24, 2022

Adani group makes bid to take over NDTV

Tags: Economy/Finance

Adani Group's subsidiary AMG Media Networks has bought 29.1 percent indirect stake in New Delhi Television (NDTV).

IMPORTANT FACTS -

• Gautam Adani Group will also launch an open offer to buy more 26% stake.

• At the same time, in a notice sent to the Securities and Exchange Board (SEBI), NDTV said that the information about the acquisition has not been given to it.

• NDTV claimed that there was neither any discussion nor consent was taken with its founders – Prannoy Roy and Radhika Roy.

• The promoter entity RRPR Holding, at the centre of the acquisition, has been asked to transfer its shares to the acquirer Vishvapradhan Comm­ercial (VCPL) in two days.

• Adani Group has made an open offer for up to 26 per cent stake in NDTV at a price of Rs 294 per share.

What is a Takeover Bid ?

• A takeover bid is a type of corporate action in which one company makes an offer to buy another company.

• In a takeover bid, the company making the offer is known as the acquirer.

• The acquiring company typically provides cash, stock, or a combination of both in an effort to acquire the company.

• There are four types of takeover bids - friendly, hostile, reverse, or backflip.

ADDITIONAL INFORMATION -

What is Hostile bid ?

• A Hostile bid involves the bidding target going directly to the shareholders.

• Hostile bidders issue a tender offer, giving shareholders the opportunity to sell their stock to the acquirer at a substantial premium within a specified time frame.

Javelin thrower Neeraj Chopra confirms participation in Lausanne Diamond League

Tags: Sports Sports News

Olympic champion and World Championship silver medalist javelin thrower Neeraj Chopra has said that he will participate in the Diamond League to be held in Lausanne, Switzerland on August 26.

IMPORTANT FACTS -

• This will be Chopra's first competition after winning a silver medal at the World Championships and being ruled out of the 2022 Commonwealth Games in Birmingham due to injury.

• Neeraj suffered a groin strain in the final of the World Championship on July 24 in Eugene, USA, due to which he got injured.

• Chopra had skipped the Commonwealth Games due to injury.

• He is currently in Saarbrücken, Germany with his coach Dr Klaus Bartonitz and physio Ishan Marwah.

About Neeraj Chopra :

• Neeraj Chopra is a track and field athlete competing in javelin thrower.

• Neeraj created history by winning the gold medal in the Tokyo Olympics 2021 by throwing the 87.58m javelin.

• He is the second Indian after Abhinav Bindra to win a gold medal in athletics at a World Championship level.

• Neeraj Chopra was awarded the Padma Shri by the Government of India in March 2022.

ADDITIONAL INFORMATION -

Major medals won by Neeraj Chopra :

• 2022 Kuortane Games (Gold Medal)

• 2021 Tokyo Olympics (Gold Medal)

• 2022 Paavo Nurmi Games (Silver)

• 2022 Kuortane Games (Gold Medal)

• 2018 Commonwealth Games (Gold Medal)

• 2017 Asian Athletics Championships (Gold Medal)

• 2016 South Asian Games (Gold Medal) 

DRDO test fire indigenous Vertical Launch Short Range surface-to-air missile

Tags: Science and Technology

Defence Research and Development Organisation (DRDO) and Indian Navy successfully flight tested Vertical Launch Short Range Surface to Air Missile (VL-SRSAM) on 23 August. 

IMPORTANT FACTS -

• The missile was test fired from the Integrated Test Range at Chandipur off the coast of Odisha.

• The flight test was conducted from an Indian Navy ship against a high speed unmanned aerial target.

• During the test launch, flight path and vehicle performance parameters were monitored using flight data captured by various instruments such as Radar, Electro-Optical Tracking System (EOTS), and Telemetry System deployed by ITR, Chandipur.

Short Range Surface to Air Missile (VL-SRSAM) : 

• It is a ship-borne weapon system capable of neutralising various airborne threats at close range, including sea-skimming targets.

• The strategy of sea skimming is used by various anti-ship missiles and some fighter aircraft to avoid detection by radar on warships.

• They fly very close to the ocean surface and thus are difficult to detect and neutralise.

Design of VL-SRSAM Missile :

• This missile is indigenously designed and developed by DRDO.

• Its design is based on Astra missile which is a Beyond Visual Range Air-to-Air missile.

• Astra is India's first air-to-air missile, developed by the Defence Research and Development Organisation.

ADDITIONAL INFORMATION -

Main features of VL-SRSAM Missile :

• It has two key features - cruciform wings and thrust vectoring.

• The cruciform has four small wings arranged like a cross on all four sides and provides a stable posture to the projectile.

• Thrust vectoring, on the other hand, helps to change the angular velocity from its engine and the direction of thrust that controls the missile.

• The missile weighs 154 kg and its length is about 12.6 feet.

• It is designed to strike high-speed air targets at a range of 40 to 50 km and at an altitude of about 15 km.

IAF terminates 3 officers in missile firing case

Tags: Defence

The Indian Air Force (IAF) Court of Inquiry (Col) has terminated the service of three Indian Air Force officers in connection with the accidental firing of the BrahMos missile in Pakistan.

IMPORTANT FACTS -

• In the investigation report of the Air Force, the three officers have been found guilty of not following the SOP.

• The BrahMos missile was wrongly fired on 9 March 2022.

What was the incident ?

• On March 9 this year, an 'unarmed' supersonic BrahMos missile of India inadvertently fell in Mia Channu area of Pakistan during inspection.

• No one was killed in this incident, but the cold-storage on which it had fallen was completely destroyed.

• Pakistan had strongly objected to this incident and demanded a joint-investigation.

• Taking this incident seriously, the Government of India had ordered a high-level inquiry, as well as ordered a review of the SOPs related to the maintenance of the missiles.

About BrahMos missile : 

• BrahMos is a short-range ramjet, supersonic cruise missile.

• It can be launched from submarines, ships, aircraft or even from land.

• It has been jointly developed by Russia's NPO Mashinostroyenia and India's Defence Research and Development Organisation.

• Brahmos is named after the Brahmaputra of India and the Moskva river of Russia.

ADDITIONAL INFORMATION -

Features of BrahMos :

• It can change course in the air and can also hit the moving target.

• It can fly at a height of 10 metres and is not caught by radar.

Defence Minister to attend SCO Defence Ministers’ meeting at Tashkent, Uzbekistan

Tags: International News

Defence Minister Rajnath Singh will attend the SCO Defence Ministers’ meeting at Tashkent in Uzbekistan on 24 August.

IMPORTANT FACTS -

• He will attend the Annual Meeting of the Defence Ministers' of Shanghai Cooperation Organisation (SCO) Member States.

• Chinese Defence Minister General Wei Fenghe and Russian Defence Minister Sergei Shoigu are also expected to attend the SCO meeting.

• Other defence ministers of member countries of the grouping will also attend the meet.

• The SCO Defence Ministerial meeting is taking place about three weeks before the annual summit of this grouping.

• The annual summit will be held in Samarkand on September 15-16.

• During his visit to Tashkent, the Defence Minister will call on the Defence Minister of the Republic of Uzbekistan, Lieutenant General Bakhodir Kurbanov.

ADDITIONAL INFORMATION -

What is Shanghai Cooperation Organisation (SCO) ?

• It is a permanent intergovernmental international organisation.

• It was founded in 2001.

• The SCO Charter was signed in 2002, and came into force in 2003.

• It is a Eurasian political, economic and military organisation.

• Its aim is to maintain peace, security and stability in the region.

• China, Russia and four Central Asian states – Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan – were founding members of the SCO.

• Official Languages - Russian and Chinese

• Chairmanship - On the basis of rotation for a year by Member States

Sri Lanka ranks 5th among the 10 countries with highest food price inflation - World Bank

Tags: International News

Sri Lanka ranks 5th among the 10 countries with the highest food price inflation, according to the latest World Bank assessment.

IMPORTANT FACTS -

• According to the World Bank assessment, Lebanon, Zimbabwe, Venezuela and Turkey ranked first four countries, while Iran, Argentina, Suriname, Ethiopia and Moldova ranked behind Sri Lanka.

• The World Bank said record high food prices have triggered a global crisis that drives millions of people to extreme poverty, hunger and malnutrition.

• The Ukraine war, supply chain disruptions, and the COVID-19 pandemic have pushed food prices to an all-time high.

• Rising food prices have a greater impact on people in low- and middle-income countries.

• These countries spend a larger share of their income on food than people in high-income countries.

Domestic food price inflation at high worldwide :

• According to the data, almost all low and middle income countries have high inflation between April and July 2022.

• The World Bank says countries should lift trade restrictions or export bans on fertilizers.

• The use of fertilizers should be made more efficient by giving proper incentives to the farmers.

• Investing in innovation to develop best practices and new technologies can help increase production per kilogram of fertilizer.

ADDITIONAL INFORMATION -

Top 10 Countries hit hardest by Food Inflation :

1. Lebanon

2. Zimbabwe

3. Venezuela

4. Turkiye

5. Sri Lanka

6. Iran 

7. Argentina

8. Suriname

9. Ethiopia

10. Moldova

India's first observatory to be set up in Uttarakhand to monitor space activity

Tags: Science and Technology

India's first commercial space observatory will be built in the Garhwal division of Uttarakhand by Digantara, a startup started in the field of space.

IMPORTANT FACTS -

• It will also be able to keep an eye on an object as small as 10 cm orbiting the Earth.

• With the help of this observatory, scientists will be able to keep an eye on every movement of deep space. In particular, monitoring of deep activity in geostationary, middle-Earth and high-Earth orbits will be possible.

• This observatory will also give India indigenous capability to monitor space activity on the subcontinent. For example, if Chinese satellites are observed over a particular area of India for a long period of time, it is an advantage for India to have indigenous capability without relying on countries like the US to monitor these activities.

• With the help of the information received from this observatory, collisions between satellites and other spacecraft can be avoided. A more accurate estimate can be made about their location, speed and trajectory.

• At present, the US dominates the region. It has the most such observatories to monitor space activities. Its observatories are stationed at various places and commercial companies provide inputs for them from all over the world.

Startup Digantara :

• Its full name is Digantara Research and Technology Private Limited.

• Launched in December 2018, the main focus of this startup is to track the waste being collected due to satellites in space and find solutions.

• Its headquarter is in Jalandhar, Punjab.

Debasisa Mohanty appointed director of National Institute of Immunology

Tags: Person in news

Senior Scientist Debasisa Mohanty has been appointed as the Director of the National Institute of Immunology (NII), as per the order of the Personnel Ministry.

IMPORTANT FACTS -

• Mohanty is currently working as a Staff Scientist in the institute.

• Debasisa Mohanty is an Indian computational biologist, bioinformatician and staff scientist at the National Institute of Immunology.

• The government awarded him the National Bioscience Award for Career Development in 2009, one of the highest Indian science awards, for his contribution to the biosciences.

• In another order, the ministry said Revenue Secretary Tarun Bajaj has been given additional charge as Corporate Affairs Secretary.

National Institute of Immunology :

• The National Institute of Immunology is an autonomous research institute located in the

• Established - 24 June 1981

• Headquarters - New Delhi

• Founding Director - G.P. Talwar

India on 3rd spot at International Astronomy & Astrophysics Olympiad

Tags: Sports News

India has secured the third position in the medal tally of the 15th International Olympiad on Astronomy and Astrophysics (IOAA).

IMPORTANT FACTS -

• The 15th International Olympiad on Astronomy and Astrophysics (IOAA) was held in Kutaisi, Georgia from August 14 to 21, 2022.

• India finished joint third with Singapore with the students winning three gold and two silver medals.

• India's individual performance was as follows - Raghav Goyal, Mohd. Sahil Akhtar and Mehul Borad won gold while Malay Kedia and Atharv Nilesh Mahajan won silver.

• This year 209 students from 37 main and 6 guest teams participated in IOAA. In addition, 24 students from 6 countries took part online.

• In the medal tally, Iran's official team got 5 gold, guest team got 4 gold and 1 silver medal.

• Overall 28 Gold, 38 Silver and 55 Bronze medals were awarded in this IOAA.

• Raghav Goel won the special award for the best solution to the most challenging theoretical question.

International Olympiad on Astronomy and Astrophysics :

• It is an international competition, involving the fields of astronomy and astrophysics.

• This competition is for high school students under the age of 20.

• Participating students solve theoretical, data analysis, observational problems individually in time bound situations over a period of 10 days.

NASA’s James Webb Space Telescope captures new images of Jupiter

Tags: Science and Technology

NASA has released unprecedented images of the planet Jupiter taken by the James Webb Telescope, the world's most powerful telescope, which scientists hope to give more information about the planet.

IMPORTANT FACTS -

• In this picture, many other features of the planet Jupiter have come out, usually the Great Red Spot, which looks red in color, is seen in white.

• In the picture, the brightness of the aurora i.e. Northern and Southern Lights are visible at the north and south poles of the planet Jupiter.

• Apart from this, in a wide-field picture, all parts of this planet are visible in a line.

• Its dim ring and two of its satellites i.e. the moons Amarthea and Adrastea are visible. Shining stars are visible in the galaxy behind them.

About Jupiter Planet :

• Jupiter is the largest planet in the solar system. 

• Jupiter, Saturn, Uranus and Neptune are called Jovian or gas giant planets. It is composed mostly of hydrogen and helium.

• It has rings, but they’re very hard to see.

• It has 79 confirmed moons.

• It is the fifth planet from the Sun, that means Mars and Saturn are Jupiter’s neighbouring planets.

• It rotates once in about 10 hours (a Jovian day), but takes about 12 Earth years to complete one orbit of the Sun (a Jovian year).

• It has large storms like the Great Red Spot, which have lasted for hundreds of years.

James Webb Space Telescope :

• NASA’s James Webb Space Telescope was launched by rocket on 25 December 2021 from South America’s north-eastern coast.

• It is the most powerful infrared telescope ever launched by NASA.

• It has been built in collaboration with NASA, the European Space Agency (ESA) and the Canadian Space Agency.

• It has opened a new era of astronomy.

• Its goal is to search for the first galaxies that formed after the Big Bang.

• It will reveal new and unexpected discoveries, and help to understand the origins of the universe and the human position.

• It reached its destination in solar orbit about 1.6 million km from Earth after travelling 2 weeks in space. 

• It is also considered a successor of the Hubble Telescope which was launched into low Earth orbit in 1990.