Latest Business and Economics General Knowledge(GK) Questions and answers

1 .

Which group acquired a controlling stake in Swiss-based Holcim AG's Cement Business in India for $ 10.5 billion?

A)

Tata Group

B)

Adani Group

C)

Reliance Group

D)

Mahindra Group

Correct Answer : Adani Group

Adani Group has acquired a controlling stake in Swiss-based Holcim AG's cement businesses in India in a $10.5 billion deal.

The Adani Group has acquired 63.19% of Ambuja Cements Ltd and its subsidiary ACC in the bidding with companies.

With this deal, Adani becomes the second biggest cement producer in the country after the Aditya Birla Group-owned UltraTech Cement.

The divestment of India businesses by Holcim is to reduce its reliance on carbon-intensive cement production.

Holcim said in a statement it had signed a binding agreement for the Adani Group to acquire Holcim's business in India, comprising its stake in Ambuja Cement, which owns a 50.05% interest in ACC, as well as its 4.48% direct stake in ACC. Holcim would receive nearly $6.4 billion for the stakes.

Source : Live Mint

2 .

Which company buys "Dineout" from Times Internet in May 2022?

A)

Swiggy

B)

Zomato

C)

Just Eat

D)

foodpanda

Correct Answer : Swiggy

Online food-delivery app Swiggy has entered into a definitive agreement with Times Internet to acquire restaurant tech and dining out platform Dineout.

Dineout will continue to operate as an independent app after the acquisition, Swiggy said in a statement on Friday(13th May 2022).

The largely all-stock deal is worth about $120 million, or about Rs 930 crore, and is expected to close over the course of the next month, multiple people aware of the discussions told ET.

“The acquisition will allow Swiggy to explore synergies and offer new experiences in a high-use category,” said Sriharsha Majety, cofounder and chief executive officer of Swiggy.

Source : Economic Times

3 .

With which company has MoRD signed a Memorandum of Understanding(MoU) for online marketing of SHG products?

A)

Walmart

B)

Amazon

C)

Flipkart

D)

AliExpress

Correct Answer : Amazon

* Ministry of Rural Development has signed an MoU with Amazon Seller Services Private Limited at Krishi Bhawan, New Delhi.

* Aim : To promote products listed by SHGs through the Saheli Storefront.

* With the help of this MoU SHG entrepreneurs under NRLM can be able to offer their products to buyers across India through AmazonSaheli Storefront.

* MoRD will conduct workshops for awareness creation and assist the sellers in listing their products with Amazon..

Source : PIB

4 .

What is the rank of Reliance in the Forbes Global 2000 list in May 2022?

A)

No. 36

B)

No. 45

C)

No. 53

D)

No. 59

Correct Answer : No. 53

Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide.

Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies.

The top-10 ranked Indian firm on the list, followed by

* Reliance Industries Ltd at No. 53
* State Bank of India at No. 105,
* HDFC Bank at No. 153,
* ICICI Bank at No. 204.

* Oil and Natural Gas Corporation (ONGC) at 228 rank,
* Housing Development Finance Corporation Ltd (HDFC) at No. 268,
* Indian Oil Corporation (IOC) at No.357,
* Tata Consultancy Services Ltd (TCS) at No. 384,
* Tata Steel at No. 407,
* Axis Bank at No. 431.

"Energy and banking sector corporations were among the highest-ranking Indian companies in Forbes' Global 2000 list of public companies this year," the publication said.

Oil-to-telecom-to-retail conglomerate Reliance, which recorded sales of USD 104.6 billion between April 2021 and March 2022, became the first Indian company to generate over USD 100 billion in annual revenue..

Source : Business Today

5 .

Who is the President of Confederation of Indian Industry (CII) for the year 2022-23?

A)

T. V. Narendran

B)

Tapan Singhel

C)

Sunaina Kejriwal

D)

Sanjiv Bajaj

Correct Answer : Sanjiv Bajaj

Bajaj Finserv Limited's Chairman and Managing Director "Sanjiv Bajaj" has assumed the office of Confederation of Indian Industry,(CII) President for the year 2022-23.

During a meeting today, CII elected its new office-bearers and accordingly Chairman and CEO of Hero MotoCorp Limited Pawan Munjal, has taken over as CII President-Designate. Executive Vice Chairman of TVS Supply Chain Solutions R Dinesh has taken over as Vice President.

According to an official press release, Mr. Bajaj has been engaged with CII for many years. He had led CII National Committees on Insurance and Pensions and CII Taskforce on Fintech. .

Source : News On Air

6 .

Which company has over throned 'Apple Inc.' to become the Most Valuable Company in May 2022?

A)

Petrobras

B)

Microsoft

C)

Alphabet Inc.

D)

Saudi Aramco

Correct Answer : Saudi Aramco

Oil magnate Saudi Aramco on Thursday(12th May 2022) overtaken Apple as the world's most valuable company, underscoring the recent surge in oil prices that have boosted the energy giant this year.

Aramco is now worth about $2.43 trillion, compared with Apple's $2.37 trillion, according to data from Refinitiv.

Market capitalizations fluctuate frequently: earlier this year, Apple (AAPL) hit the $3 trillion mark, becoming the first to do so and making it by far the most valuable company on the planet.

Aramco at one point also held that mantle after a historic initial public offering in 2019, which propelled its valuation to $2 trillion.

But the latest market moves point to how the outlook for energy and tech producers have shifted lately..

Source : CNN

7 .

How many trillions worth of 5.58 billion transactions did UPI register in April 2022?

A)

Rs 9.83 Trillion

B)

Rs 10.65 Trillion

C)

Rs 11.79 Trillion

D)

Rs 12.48 Trillion

Correct Answer : Rs 9.83 Trillion

According to the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI), India’s flagship digital payments platform, has recorded 5.58 billion(bn) transactions worth Rs 9.83 trillion in April 2022. This is the highest ever number of transactions recorded by UPI.

The monthly UPI recorded a 3.33 % increase in transaction volume from 5.4 billion transactions worth Rs 9.6 trillion in March 2022.

Compared to April 2021, the transaction volume increased by 111% and the transaction value increased by nearly 100%. In April 2021, UPI processed 2.64 billion transactions worth Rs 4.93 trillion.

The UPI had breached the USD 1 trillion mark in transaction values in the financial year 2021-22..

Source : Business Standard

8 .

Exide and Leclanche's joint venture "Nexcharge" begins production in which state?

A)

Delhi

B)

Gujarat

C)

Maharashtra

D)

Uttar Pradesh

Correct Answer : Gujarat

Indian battery maker Exide Industries and joint venture partner Switzerland's "Leclanche" SA have begun mass production at the nation's largest lithium-ion battery plant in the western state of Gujarat, the companies said on Thursday(5th May 2022).

The plant, with total installed capacity of 1.5 Gigawatt hours (GWh), has six automated assembly lines on which it will produce batteries for automobiles and energy storage applications, the joint venture company," Nexcharge", said in a statement.

Source : The Hindu

9 .

How many billion dollars has Reliance's annual revenue crossed in 2021-22?

A)

150 Billion Dollars

B)

120 Billion Dollars

C)

100 Billion Dollars

D)

80 Billion Dollars

Correct Answer : 100 Billion Dollars

Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday(6th May 2022) reported a 22.5 percent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business.

The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to ₹16,203 crore in the quarter ended March 31, 2022 from ₹13,227 crore, the firm said in a statement.

* Net profit, however, fell 12.6 percent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.

* Reliance's earnings also rose because of a rise in broadband subscribers, online retail gaining traction and new energy investment picking roots.

* Consolidated revenue of the nation's biggest company by market value rose 35 percent year-on-year to ₹2.32 lakh crore in the fourth quarter of FY22.

* For the full fiscal 2021-22 (April 2021 to March 2022), Reliance reported a net profit of ₹60,705 crore on a revenue of ₹7.92 lakh crore (USD 102 billion).

* It is the first Indian company to have crossed USD 100 billion revenue in a year.

Source : Hindustan Times

10 .

Which company announced to merge with Mindtree to become 5th-largest IT firm?

A)

Hexaware Technologies

B)

KPIT Technologies

C)

Larsen & Toubro Infotech

D)

Zensar Technologies

Correct Answer : Larsen & Toubro Infotech

Larsen & Toubro Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group, on Friday(6th May 2022) announced a merger that would create India’s fifth-largest IT services provider.

The combined entity will be known as “LTIMindtree”.

The Boards of Directors of Mindtree and L&T Infotech (LTI) at their respective meetings held on Friday(6th May 2022) approved a composite scheme of amalgamation of both these independently listed IT services companies under the Larsen & Toubro Group. The proposed integration will see Mindtree and LTI join strengths to create an efficient and scaled up IT services provider exceeding USD 3.5 billion, Mindtree said in a statement.

Source : The Print

Business and Economics - General Knowledge Questions