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

1 .

How much controlling stake did Reliance acquire in the Mandarin Oriental Hotel in New York?

A)

52.10%

B)

61.53%

C)

66.40%

D)

73.37%

Correct Answer : 73.37%

After London, Reliance Industries is taking a big bite of the real estate and hospitality market of Big Apple, buying the Mandarin Oriental Hotel New York. Reliance through its wholly owned arm Reliance Industrial Investments and Holdings will be paying $98.15 million to acquire 73.37% of the hotel, it said in a late night statement on Saturday. It will also take over its debt in excess of $115 million, said people in the know taking the entire deal value to be close to $270 million.

The 248-room and suites property at Columbus Circle, is one of the city’s uber luxury lodging establishments towering over Central Park in mid-town Manhattan, frequented by Hollywood celebrities and hedge fund billionaires..

Source : The Economic Times

2 .

What is the approximate growth rate of SBI Ecowrap India's real GDP FY22?

A)

9.9%

B)

9.5%

C)

9.1%

D)

8.2%

Correct Answer : 9.5%

India's real GDP is expected to grow at around 9.5% in 2021-22 on a year-on-year (YoY), an SBI Ecowrap report said on Saturday.

The report comes a day after the National Statistical Office (NSO) released the First Advance Estimates of National Income for financial year 2021-22.

Accordingly, the estimates had said that India's economy is expected to clock a growth of 9.2 per cent in terms of real GDP for FY22.

The NSO data had indicated that Real GDP' or 'GDP at Constant Prices' (2011-12) in the year 2021-22 rose to Rs 147.54 lakh crore from Rs 135.13 lakh crore, the 'Provisional Estimate of GDP' for the year 2020-21.

The Ecowrap report said : "We believe that NSO's estimate is on the conservative side, as the calculated GDP growth for H2FY22 for construction comes at (-) 0.9 per centa Services is at a mere 2 per cent for H2FY22.

Source : Business Standard

3 .

Ind-Ra lowers Indiaâ€™s GDP growth forecast by 10 basis points to ____ in FY 2021-2022.

A)

9.7%

B)

9.3%

C)

8.1%

D)

7.4%

Correct Answer : 9.3%

The rating agency India Ratings and Research (Ind-Ra) has downgraded the GDP of India for the current fiscal FY 2021-2022.

Ind-Ra expects the GDP to clock a growth rate of 9.3% y-o-y in FY22. Earlier this estimate was 9.4%. Meanwhile, Brickworks Ratings has also revised India’s GDP growth forecast for the current fiscal (FY22) to 8.5-9%.

Earlier this was estimated at 10%. The rapid spread of the Omicron variant is the main driver to downgrade GDP growth projections.

4 .

Which china mobile company evaded customs duty of Rs 653 crore in india?

A)

Vivo

B)

Oppo

C)

Xiaomi

D)

OnePlus

Correct Answer : Xiaomi

The Finance Ministry has said that gadget manufacturer Xiaomi Technology India Private Limited has evaded customs duty of 653 crore rupees. Xiaomi India sales products under the MI brand.

An investigation was initiated by the Directorate of Revenue Intelligence against Xiaomi India and its contract manufacturers. During the investigation, searches were conducted at the premises of Xiaomi India, which led to the recovery of incriminating documents indicating that Xiaomi India was remitting royalty and licence fee to Qualcomm USA and to Beijing Xiaomi Mobile Software Co. Ltd. under contractual obligation. After completion of the investigation, three show cause notices were issued to Xiaomi Technology India Private Limited for demand and recovery of duty amounting to 653 crore rupees.

Source : News On Air

5 .

Which company invests $200 mn in Dunzo to acquire 25.8% stake?

A)

Reliance Retail Ventures Limited

B)

Spencer's Retail

C)

Aditya Birla Retail Limited

D)

Morning Stars Retail Private Limited

Correct Answer : Reliance Retail

Logistics startup, Dunzo has raised $240 million led by Reliance Retail Ventures Limited (Reliance Retail) at a time when the Mukesh Ambani-led conglomerate is building its e-commerce capabilities to take on the likes of Amazon, Flipkart. The investment was led by Reliance Retail Ventures Limited (Reliance Retail), with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital. With an investment of $200 million, Reliance Retail will own 25.8 percent stake on a fully diluted basis.

According to an exchange filing by the Reliance Industries Limited, the capital will be used to further Dunzo’s vision to be the largest quick commerce business in the country, enabling instant delivery of essentials from a network of micro warehouses while also expanding its B2B business vertical to enable logistics for local merchants in Indian cities.

Source : Business Today

6 .

How many billion dollars did India record highest monthly exports in December 2021?

A)

$27.21 billion

B)

$30.17 billion

C)

$33.76 billion

D)

$37.29 billion

Correct Answer : $37.29 billion

The preliminary data released by the commerce and industry ministry, India exported goods worth $37.29 billion in December, the highest ever in a month, as demand for items such as engineering products, petroleum items, and gems and jewellery continued to soar. India’s export has increased by 37% from the figures of December 2020. The import has also increased by 38 per cent from last December. India’s exports of goods will cross 400 billion dollars in this fiscal year.

7 .

Which company acquires Israeli cybersecurity startup Siemplify for $500 million?

A)

Google

B)

Tesla

C)

Microsoft

D)

Facebook

Correct Answer : Google

Google announced on Tuesday(4th Jan 2022) that it is acquiring Israeli cybersecurity startup Siemplify for a reported $500 million.

Google Cloud Security vice president Sunil Potti said Siemplify is a leader in the security orchestration, automation and response (SOAR) field. Their platform will be integrated into Google Cloud's security team "to help companies better manage their threat response."

"In a time when cyberattacks are rapidly growing in both frequency and sophistication, there's never been a better time to bring these two companies together. We both share the belief that security analysts need to be able to solve more incidents with greater complexity while requiring less effort and less specialized knowledge. With Siemplify, we will change the rules on how organizations hunt, detect and respond to threats," Potti said..

8 .

Which company becomes world's first company to hit $3 trillion market value in Jan 2022?

A)

Tesla

B)

Apple

C)

Google

D)

Microsoft

Correct Answer : Apple

Apple Inc (AAPL.O) on Monday(3rd Jan 2022) became the first company to hit a $3 trillion stock market value, before ending the day a hair below that milestone, as investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.

On the first day of trading in 2022, the Silicon Valley company's shares hit an intraday record high of $182.88, putting Apple's market value just above $3 trillion. The stock ended the session up 2.5% at $182.01, with Apple's market capitalization at $2.99 trillion.

The world's most valuable company reached the milestone as investors bet that consumers will continue to shell out top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music..

Source : Reuters

9 .

Who has restructured its advisory committee on market data in Jan 2022?

A)

RBI

B)

IRDA

C)

SEBI

D)

NSDL

Correct Answer : SEBI

SEBI has restructured its advisory committee on market data that recommends policy measures pertaining to areas like securities market data access and privacy.

Rejigging its market data advisory committee, Sebi has said the panel will now be chaired by S Sahoo, Professor at National Law University, Delhi and former chairperson, Insolvency and Bankruptcy Board of India (IBBI), as per the latest information with the regulator.

The 20-member committee was earlier headed by Madhabi Puri Buch, ex-whole time member of Sebi.

Apart from Sahoo, the panel has CEOs of stock exchanges and depositories, representatives of various stakeholders and senior officials of Sebi as members..

Source : Business Standard

10 .

Which company plans to buy 5% equity in Power Exchange of India Ltd?

A)

Tata Power

B)

NHPC Limited

C)

NTPC Limited

D)

Power Grid Corporation of India

Correct Answer : NTPC Limited

State-run power giant National Thermal Power Corporation (NTPC) Limited is mulling acquiring 5 per cent equity stake in Power Exchange of India Ltd (PXIL) that provides various electricity trading options, a senior official said. The PXIL is India's first institutionally promoted power exchange, which has been providing various electricity trading solutions and connecting buyers as well sellers since 2008.

A senior official told PTI that NTPC has plans "to buy up to five per cent equity stake in PXIL. This decision has been taken in view of the government's intention to increase the share market to 25 per cent per cent of total electricity supply in India by 2023-24".

Asked whether NTPC would acquire more equity than 5 per cent in PXIL, the official explained that the NTPC cannot buy more than 5 per cent equity stake in the PXIL as it could also be a seller or buyer on the trading platform.

According to the data available on the Ministry of Corporate Affairs portal, the authorised share capital of the PXIL is Rs 120 crore and paid-up capital is Rs 58.47 crore. The PXIL was incorporated on February 20, 2008.