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

1 .

Who has acquired a minority stake in Heineken Holding NV for $902 million?

A)

Jeff Bezos

B)

Bill Gates

C)

Warren Buffett

D)

Paul Allen

Correct Answer : Bill Gates

Bill Gates has acquired a minority stake in Heineken Holding NV, the controlling shareholder of the world’s second-largest brewer, for about $902 million.

* The Microsoft founder and philanthropist last week picked up 3.8% of Heineken Holding, according to a filing by the Dutch regulator AFM.

* He bought 6.65 million shares in Heineken Holding, in his individual capacity, and another 4.18 million shares through the Bill & Melinda Gates Foundation Trust.

* The shares are valued at €848.2 million ($902 million), according to Bloomberg calculations at closing share price value of February 17, 2023.

* Gates acquired the stake on the same day that Fomento Economico Mexicano SAB launched a €3.7 billion stock and equity-linked sale for part of its holdings in Heineken.

* Femsa, as the Mexican Coca-Cola bottler and convenience store operator is known, had last week announced plans to offload its stake in Heineken after a strategic review.

* Femsa said its accelerated bookbuild offering of €1.9 billion in shares in Heineken NV priced at €91 apiece, and €1.3 billion in shares in Heineken Holding sold at €75 each. Heineken Holding controls 50% of Heineken NV, maker of the namesake beer as well as Amstel, Moretti, and Sol among others.

* The Bill & Melinda Gates Foundation Trust foundation has also invested in Dutch online grocer Picnic BV and holds a 1.34% stake in Dutch fertilizer producer OCI NV.

* The foundation has long been a powerhouse in the nonprofit world, employing almost 1,800 people and spending nearly $80 billion since 2000.

Source : Business Standard

2 .

Which Company Collaborated (23rd Feb 2023) with Microsoft to Accelerate Industry Adoption of Cloud?

A)

Wipro

B)

Infosys

C)

Cognizant

D)

HCLTech

Correct Answer : Infosys

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, 23rd February 2023 announced that it will expand its collaboration with Microsoft, to help accelerate enterprise cloud transformation journeys worldwide.

* According to the Infosys Cloud Radar, enterprises can add up to $414 billion in net new profits, annually, through effective cloud adoption.

* The report also calculated that adopting cloud improved speed to market and the ability to discover new revenue streams and resulted in increased profit growth by up to 11.2 percent YoY.

* The extended strategic collaboration between Infosys and Microsoft will greatly benefit enterprises by bringing them the best of Infosys Cobalt cloud offerings and Microsoft’s cloud computing technologies, led by Azure, across the business value-chain.

* The deepening of the collaboration will entail the onboarding of Infosys Cobalt solutions to Microsoft’s industry clouds, to empower enterprises to build agile cloud-powered platforms and innovate at scale.

* The joint capabilities across application modernization, enterprise solutions, data analytics and AI, digital workplace solutions, low-code, no-code power platforms and cybersecurity innovations will create a robust foundation for cloud-powered transformation.

* These will bring enterprises the benefits that come from best of breed Microsoft platforms, along with Infosys Cobalt suite of cloud-powered solutions, implemented to minimize time-to-market and maximize value.

* For example, Infosys Helix, running on Azure, is delivering for the healthcare industry value from an AI-first, people-centric platform suite to analyze, customize and democratize data for payers, providers, members, and governments.

* Another powerful example is Infosys Equinox – a human-centric digital commerce and marketing platform that enables contextualized omnichannel buying experiences.

* Microsoft is using Infosys’ expertise to deliver the Support experience for its products, and this collaboration will further enhance the dedicated support and focus from the Microsoft CRM Center of Excellence set up by Infosys..

Source : Infosys

3 .

Uber signed MoU for 25000 EVs with which company on 20th Feb 2023?

A)

Maruti Suzuki

B)

Tata Motors

C)

Mahindra & Mahindra Limited

D)

Hyundai Motor Company

Correct Answer : Tata Motors

Tata Motors, India’s leading automobile manufacturer and the pioneer of India’s EV evolution, on Monday (20th Feb 2023) signed an MoU with Uber, India’s leading ridesharing app, to bring 25,000 XPRES–T EVs into their premium category service.

* The agreement between Uber and Tata Motors is the largest EV commitment yet between an automaker and a ridesharing platform in India.

* Tata Motors will begin deliveries of XPRES-T EVs to Uber fleet partners in a phased manner starting this month. The partnership will aid the electrification of Uber services across Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, and Ahmedabad.

* As Uber continues to move towards its zero-emissions goal, the partnership with Tata Motors will lay the groundwork for the meaningful expansion of four-wheeler electric vehicles (EVs) on a mobility platform in India.

* Uber has committed to 100% of rides taking place in zero-emission vehicles, on public transit, or with micro-mobility by 2040.

* Uber is focused on finding new, innovative, and affordable ways to help drivers and fleets go electric and will lean in on industry partnerships across EV manufacturers, Fleets, and EV infra partners among others to advance EV transition.

* Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility informed that working towards the aim of growing India’s e-mobility market, they are delighted to announce their partnership with Uber, India’s leading ridesharing app, for their expansion of sustainable mobility options....

Source : Economic Times

4 .

Which comapny announced a strategic partnership with Sri Lanka-headquartered Maliban Biscuit Manufactories Limited?

A)

Reliance Retail

B)

DMart

C)

Future Retail

D)

Aditya Birla Fashion and Retail

Correct Answer : Reliance Retail Ventures Limited

Reliance Consumer Products Limited, the FMCG arm of Reliance Retail Ventures Limited, has announced a strategic partnership with the Sri Lanka’s Maliban Biscuit Manufactories.

Maliban, a heritage brand and a household name in Sri Lanka, is a pioneering biscuit manufacturer well-known for the last 70 years for its range of quality products.

The company has expanded its products to reach global markets and now exports to over 35 countries across 5 continents.

Speaking on the partnership, the Group Managing Director of "Maliban Kumudika Fernando" said that the complementary strengths of the two organisations will bring the unique and highly sought-after taste of Maliban to Indian consumers.

With this partnership, Reliance and Maliban will develop unique value propositions that RPCL will utilise to strengthen their portfolio in the biscuit segment...

Source : AIR

5 .

Who acquired a 100% equity stake in Khargone Transmission at an enterprise value of around â‚¹1,497.5 crores?

A)

IRB InvIT Fund

B)

Brookfield India

C)

Virescent Renewable

D)

India Grid Trust (IndiGrid)

Correct Answer : India Grid Trust (IndiGrid)

India Grid Trust (IndiGrid) to acquired a 100% equity stake in Khargone Transmission at an enterprise value of around â‚¹1,497.5 crores.

IndiGrid signed a share purchase agreement on January 21, 2023.

Khargone Transmission was incorporated on November 28, 2015.

The transmission project was awarded by the ministry of power for a 35-year period from the scheduled commercial operation date on a build, own, operate, and maintain (BOOM) basis..

Source : India Times

6 .

Which company signed an MoU with the Ministry of New and Renewable Energy for setting the annual performance target for the year 2022-23?

A)

GAIL

B)

Coal India

C)

Indian Renewable Energy Development Agency Limited(IREDA)

D)

SAIL (Steel Authority of India Limited)

Correct Answer : Indian Renewable Energy Development Agency Limited(IREDA)

Indian Renewable Energy Development Agency Ltd. (IREDA) signed a Memorandum of Understanding (MoU) with Ministry of New and Renewable Energy (MNRE), Government of India, setting annual performance target for the year 2022-23.

The MOU was signed by Shri Bhupinder Singh Bhalla, Secretary, MNRE and Shri Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA 20th Jan 2023 in the presence of senior officials from MNRE & IREDA.

The Government of India has set a target â‚¹ 3,361 crores for Revenue from Operation, up by approx. 18% from the previous year achievement.

The Government of India has also set various performance-related key parameters such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio and Earning per share, etc.

Shri Pradip Kumar Das highlighted that IREDA has been delivering exemplary performances for the previous two financial years and is fully geared to meet these targets.

The company has posted 67% jump in Profit After Tax (PAT) in 2nd Quarter of FY 2022-23, as compared to corresponding period during FY 2021-22. Most importantly, Net NPAs have been reduced from 4.87% to 2.72% in Quarter 2, as compared to corresponding period during FY 2021-22.

IREDA has demonstrated exceptional performance by securing 96.54 marks for the MoU of FY 2021-22. The company as on date, has financed more than 3,068 Renewable Energy projects loan accounts with cumulative loan sanction and disbursement to the tune of

â‚¹ 1,41,622 crores & â‚¹ 90,037 crores respectively and has supported Renewable Energy capacity addition of 19,502 MW in the country.

Source : PIB

7 .

Which company has overtakes Apple as world's most valuable brand in 2023?

A)

Microsoft

B)

Google

C)

Walmart

D)

Amazon

Correct Answer : Amazon

Billionaire Jeff Bezos’s e-commerce company Amazon has become the most valued brand, overtaking Apple, last year’s topper.

Amazon has reclaimed the top spot as the world’s most valuable brand despite its brand value falling 15 per cent this year from $350.3 billion to $299.3 billion.

According to brand valuation consultancy Brand Finance’s report, “Global 500 2023”, while Amazon is back at No 1, its brand value has fallen by over $50 billion this year, with its rating slipping from AAA+ to AAA. This is as consumers evaluate it more harshly in the post-pandemic world.

Apple slipped to the second spot : iPhone maker Apple slipped to the second slot to be ranked the world’s second most valuable brand (brand value down 16% to $297.5 billion from $355.1 billion).

This year’s fall in brand value relates to a fall in forecast revenue with supply chain disruptions and a constrained labour market expected to limit the supply of its marquee hardware products. Among all, 48 tech brands featured in the ranking, which is two less than the earlier 50 rated in 2022.

This is after Snapchat and Twitter dropped out.

* Amazon- Worth $299.3 billion

* Apple- Worth $297.5 billion

* Google-Worth $281.4 billion

* Microsoft-Worth $191.6 billion

* Walmart-Worth $113.8 billion

* Samsung Group-Worth $99.7 billion

* ICBC-Worth $69.5 billion

* Verizon-Worth $67.4 billion

* Tesla-Worth $66.2 billion

* TikTok/Douyin-Worth $65.7 billion..

Source : Times now News

8 .

Which bank and Steel Authority of India Limited (SAIL) signed an agreement to provide financial assistance to the dealers of SAIL across the country?

A)

Canara Bank

B)

South Indian Bank

C)

Union Bank of India

D)

State Bank of India

Correct Answer : South Indian Bank

South Indian Bank and Steel Authority of India Limited (SAIL) on Friday (13th Jan 2023) signed an agreement to provide financial assistance to the dealers of SAIL across the country.

With the vast network of the bank, they will be able to serve the MSME and corporate customers of SAIL located in different geographies.

SAIL has a vast network of dealers who ensure availability of quality steel in virtually all districts of the country.

MD & CEO, South Indian Bank : Murali Ramakrishnan..

Source : Mint

9 .

Which Company has signed a partnership agreement with Manchester City to become the Official Mobile Communications Network Partner of Club in the country?

A)

Jio Platforms Limited

B)

Bharti Airtel

C)

Adani Data Network

D)

Vodafone Idea

Correct Answer : Jio Platforms Limited

Jio Platforms Limited (Jio) has signed a partnership agreement with Manchester City to become the Official Mobile Communications Network Partner of Club in the country.

Man City's OTT platform 'CITY' will be integrated into the JioTV platform.

The English Premier League club’s over-the-top platform — called CITY+ — will also be integrated into the JioTV platform “providing fans in India further access to exclusive club content including match highlights, live Manchester City Women’s team” and other fixtures, according to a statement Thursday (5th Jan 2023) from Reliance Industries Ltd., Jio Platforms’ parent. ..

Source : CNBC

10 .

Which company to complete the acquisition of Ford India's manufacturing plant at Sanand through its subsidiary on 10th January 2023?

A)

Hyundai Motor

B)

Tata Motors

C)

Maruti Suzuki

D)

Mahindra and Mahindra

Correct Answer : Tata Motors

The auto major on Friday (30th Dec 2022) said that the acquisition of Ford India's (FIPL) manufacturing plant at Sanand, through its subsidiary, Tata Passenger Electric Mobility (TPEML) will be completed on 10 January 2023.

On 7 August 2022, Tata Motors said that its subsidiary, TPEML and FIPL had executed a unit transfer agreement for the acquisition of FIPL's manufacturing plant situated at Sanand, Gujarat.

The agreement includes land and buildings, a vehicle manufacturing plant along with machinery and equipment and transfer of all eligible employees of FIPL's vehicle manufacturing operations at Sanand, for a total consideration, exclusive of taxes, of Rs 725.7 crore.

The auto maker stated, Pursuant to the fulfilment of the necessary condition precedents for the transaction, including receipt of relevant government approvals, the parties have decided to proceed towards completion of the transaction on 10th January 2023..

Source : Business Standard