1. Elon Musk tops list of highest-paid CEOs
Tags: International News
According to the Fortune 500 report, in the year 2021, Tesla and SpaceX CEO Elon Musk were in first place in terms of highest salary.
In the year 2021, Elon Musk has received $23.5 billion (Rs 1.82 lakh crore) as salary. This also includes encashing stock options issued in 2018, which had a deadline of 2021.
After Musk, the list of the 10 highest-paid Fortune 500 CEOs of 2021 features all tech and biotech CEOs, including the heads of Apple, Netflix and Microsoft.
Apple's Tim Cook was the second highest-paid CEO, who received $ 77.05 million (about six thousand crore rupees) as salary in 2021.
Nvidia co-founder and CEO Jensen Huang came third on the list with $507 million.
Microsoft CEO Satya Nadella, who was at number seven in this list, has received $ 3094 million in the year 2021 as salary.
Top 10 Highest Paid CEOs
Elon Musk (Tesla) - $23.5 billion
Tim Cook (Apple) - $770.5 million
Jensen Huang (NVIDIA) - $561 million
Reed Hastings (Netflix) - $453.5 million
Leonard Schlieffer Regeneron (Pharmaceuticals) - $452.9 million
Marc Benioff (Salesforce) – $439.4 million
Satya Nadella (Microsoft) – $309.4 million
Robert A. Kotik (Activision Blizzard) - $296.7 million
Hawk E. Tan (Broadcom) - $288 million
Saffra A. Katz (Oracle) - $239.5 million
2. India-Bangladesh Rail Link
Tags: National International News
Passenger train services between India and Bangladesh resumed, Bandhan Express departed from Kolkata for Khulna and Maitree Express started from Dhaka to Kolkata.
The Bandhan Express was resumed rail link between Kolkata and the industrial hub of Khulna.
Khulna is the third-largest city of Bangladesh.
In 1965, the Barisal Express was introduced on this route, which was stopped due to the Indo-Pakistani War.
The government of India along with the Bangladesh government restarted that with Bandhan express in 2017.
Bandhan Express was the second train to be flagged off after the introduction of Maitree Express between Kolkata and Dhaka Cantonment in April 2008.
It covers the distance between Kolkata and Khulna via Petrapole and Benapole border route to meet the demands of the people of both the countries.
Other works towards strengthening the rail link
In August 2021, the two sides started regular movement of freight trains between Haldibari in India and Chilahati in Bangladesh.
The Haldibari-Chilahati rail link between India and erstwhile East Pakistan was also operational till 1965 which was closed due to war.
It was part of the broad gauge main road from Kolkata to Siliguri at the time of partition.
At least 20 freight trains per month are planned to cross the border on this link by both sides.
3. National Education Ministers’ Conference
Tags: National News
The National Education Ministers' Conference is being organized for two days (June 1 and June 2, 2022) in Gujarat with focus on implementation of the new National Education Policy (NEP).
Union Education Minister Dharmendra Pradhan along with other Union Ministers and Education Ministers of States and Union Territories will participate in the conference.
The conference is expected to deliberate on strengthening the education ecosystem in the country.
The conference will focus on implementation of National Education Policy 2020, skills in schools and digital initiatives like National Digital Education Architecture, National Educational Technology Forum etc.
National Education Policy 2020
It was brought in 2020.
Its aim is to make India a global knowledge superpower.
The two earlier education policies were brought in 1968 and 1986.
The cabinet also approved renaming the Ministry of Human Resource Development as the Ministry of Education.
This includes elementary and university education in urban and rural India.
4. 10 Pacific Island Countries Reject China's Regional Security Pact
Tags: International News
China has suffered a major diplomatic humiliation in the Pacific. Ten island nations in the region rejected China's proposed security agreement.
Chinese Foreign Minister Wang Yi has returned empty handed on a very important visit to the Pacific countries.
Why did the Pacific Nations reject the Pact?
Pacific countries worry that the pact is designed to pull them towards Beijing’s orbit.
The agreement was "abusive" and would "ensure Chinese influence in the governments of the Pacific" and China's "economic control" over key industries.
Lack of regional consensus.
Security issues with China
China's full proposal has not been made public, but was leaked to the media.
Features of the Pact
China has offered to radically intensify its activities in the South Pacific, directly challenging the influence of the US and its allies in the strategically important region
China is offering millions of dollars in financial aid.
China had proposed a pact that would enable the country to-
To train Pacific island police
To become involved in cybersecurity
To expand political ties
To conduct sensitive marine mapping
To gain more access to natural resources on land and in the water
5. Pope Francis elevates archbishops of Hyderabad and Goa to cardinal rank
Tags: Person in news International News
Pope Francis announced on 29 May that he would create 21 new cardinals, including two from India, in a Consistory on 27 August.
It is a matter of pride for the Goans to receive such a coveted honour.
The two Cardinals from India
Archbishop Filipe Neri António Sebastião di Rosário Ferrão, (Archbishop of Goa)
Archbishop Anthony Poola, Archbishop of Hyderabad
About Father Ferrao
He was ordained as a priest on 28 October, 1979
On 12 December 2003, he was ordained as Archbishop of Goa and Daman by Pope John Paul II.
Father Ferrao was born on 20 January 1953 in the village of Aldona, near Panaji.
He graduated in Philosophy and Theology and knows Konkani, English, Portuguese, Italian, French and German languages.
About Anthony Poola
He was a native of Kurnool district of Andhra Pradesh and was ordained a priest in February 1992
He was appointed as Bishop of Kurnool in 2008.
He was appointed as Archbishop of Hyderabad in 2020.
He is currently the Chairman of the Youth Commission of the Andhra Pradesh Bishops' Conference.
For the first time in history, a Telugu Archbishop has been made a cardinal.
Important facts
Eight of the newly named cardinals are from Europe, six from Asia, two from Africa, one from North America, and four from Central and Latin America.
The College of Cardinals currently has 208 cardinals, of whom 117 are electors and 91 are non-electoral.
From August 27, this number will increase to 229 cardinals.
6. NCTE launches online portal to streamline process of recognition of teacher education programs
Tags: National News
The National Council for Teacher Education has launched an online portal to streamline the process of accreditation of teacher education programs of higher education institutions and teacher education institutions.
This portal will bring a paradigm shift in the working of the National Council for Teacher Education.
The applications for the recently launched four-year Integrated Teacher Education Program (ITEP) will also be processed on this portal.
Aim of portal
Providing an automated robust framework that will help enhance transparency, accountability and ease of doing business.
To help the candidates from the time of invitation of applications for the courses to the stage of issuing accreditation orders including inspection of institutions.
About National Council for Teacher Education (NCTE)
It is a statutory body came into existence in pursuance of the National Council for Teacher Education Act, 1993 on 17 August,1995.
It plans and coordinates the development of the teacher education system throughout the country.
It also ensures the maintenance of norms and standards in the teacher education system in India.
Its headquarter is in New Delhi.
7. U.S. becomes India’s biggest trading partner at $119 billion
Tags: Economics/Business International News
In the year 2021-22, the US overtook China to become India's top trading partner, reflecting strong economic ties between the two countries.
As per commerce ministry data, bilateral trade between the US and India stood at $119.42 billion in 2021-22, as against $80.51 billion in 2020-21.
India's exports to the US increased to $76.11 billion in 2021-22 from $51.62 billion in the previous fiscal While imports increased to $43.31 billion in 2020-21 as compared to about $29 billion.
During 2021-22, India's two-way trade with China stood at $115.42 billion as compared to $86.4 billion in 2020-21.
During 2021-22, India's two-way trade with China stood at $115.42 billion as compared to $86.4 billion in 2020-21.
Exports to China marginally increased to $21.25 billion last fiscal year from $21.18 billion in 2020-21, while imports jumped to $94.16 billion from about $65.21 billion in 2020-21.
The trade gap widened to $72.91 billion in 2021-22 from $44 billion in the previous fiscal.
Reason of increasing bilateral trade with the US
Strengthening of economic ties between the two countries.
Global firms are reducing their dependence only on China for their supplies and diversifying business to other countries such as India.
India has joined the US-led initiative to establish the Indo-Pacific Economic Framework (IPEF) and the move will further boost economic ties.
Major export items from India to the US
Petroleum polished diamonds, pharmaceutical products, jewellery, light oils and petroleum, frozen shrimp, made ups etc.
Major import items from US to India
Petroleum, rough diamonds, liquified natural gas, gold, coal, waste and scrap, almonds etc
Important facts
China was India's top trading partner from 2013-14 till 2017-18 and also in 2020-21.
Before China, UAE was India's largest trading partner.
8. PM inaugurates several completed projects and lays foundation stones for new projects in Chennai
Tags: State News National News
PM Narendra Modi inaugurated several completed projects and laid foundation stones for new projects in Chennai on 27 May.
Inaugurated projects
He laid foundation stones for six major infrastructure projects worth 28,540 crore rupees.
He dedicated to the nation five projects that have been completed at a cost of 2960 crore rupees.
He inaugurated the new campus of the Central Institute of Classical Tamil, which is being fully funded by the Central Government.
Subramanya Bharathi Chair on Tamil Studies at Banaras Hindu University was announced recently.
PM inaugurated phase 1 of Bengaluru-Chennai Expressway.
He said the proposed Bengaluru-Chennai Expressway would connect the two major centres to boost the economy.
He also inaugurated a four-lane, double decker, elevated road connecting Chennai Port to Maduravoyal.
This will make Chennai port more efficient and decongest the city.
Five railway stations in the state are being redeveloped.
Chennai Light House project was the first project in the country under the urban component of PM-Awas scheme.
Multi-modal logistic parks
9. India, UAE sign MoU for climate action
Tags: International News
India and the United Arab Emirates (UAE) signed a Memorandum of Understanding (MoU) on Climate Action on 26 May.
It aims to establish a framework to facilitate bilateral cooperation on climate action and contribute towards the implementation of the Paris Agreement 2015.
The MoU was signed between Environment, Forest and Climate Change Minister Bhupender Yadav and UAE Climate Envoy and Minister of Industry and Advanced Technology Dr Sultan Al Jaber in New Delhi.
In a bilateral meeting, both the leaders discussed issues related to climate change, hosting of COP 28 and other related matters.
Yadav stressed that issues of climate finance, adaptation, loss and damage require more attention on the way beyond COP26.
Paris Agreement 2015
It is an international agreement to combat climate change.
In December 2015, the governments of 195 countries gathered in Paris, France.
They discussed a possible new global agreement on climate change that aims to reduce global greenhouse gas emissions and tackle the dangerous climate change threat.
It came into force on 4 November 2016.
It is a legally binding international treaty on climate change that was adopted by 196 countries.
It comes under the United Nations Framework Convention on Climate Change (UNFCCC).
UNFCCC is a convention held in 1992 to combat climate change.
The Kyoto Protocol (1997) was another major international agreement under UNFCCC.
The aims of Paris Agreement
To keep the global temperature rise this century below 2 degrees Celsius above the pre-industrial level.
Trying to limit the temperature rise to 1.5 °C.
Strengthening the capacity of countries to deal with the effects of climate change.
10. Bharat Drone Mahotsav 2022
Tags: Defence National News
Prime Minister Narendra Modi will inaugurate India's biggest drone festival-Bharat Drone Mahotsaw 2022 at Pragati Maidan in New Delhi on May 27.
The Prime Minister will interact with farmer drone pilots and also witness an open-air drone demonstration.
The 'Bharat Drone Mahotsav 2022' is a two-day event being organised on May 27 and 28.
Drones will be showcased by over 70 exhibitors at the exhibition.
Drone pilot certificate, product launch, flight demonstration, demonstration of Made in India drone taxi prototype etc. will be organised in the festival.
Several industry leaders, government officials, foreign diplomats, representatives of public sector entities, private companies and drone startups will participate in the festival.
What is a drone?
Drones are also known as unmanned aerial vehicles (UAVs) or unmanned aircraft.
A drone is a flying robot that can be controlled remotely or can fly independently using software-controlled flight technology in its embedded systems.
It works in conjunction with onboard sensors and a global positioning system (GPS).
Drones first came to the market in the 1990 and were developed by the military.
Drones can be used for surveillance, situational analysis, crime control, VVIP security, disaster management, etc.
It offers benefits to almost every sector of the economy, including national defence, agriculture, law enforcement, and mapping, among others.
The Central Government has approved the Production Linked Incentive (PLI) Scheme of Drones and Drone Components.
