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

1 .

Which company has announced a Joint Venture (JV) general insurance company in 21st May 2022?

A)

PayPal

B)

BharatPe

C)

Paytm

D)

PhonePe

Correct Answer : Paytm

Digital financial services firm One97 Communications NSE 7.62 %, which operates under Paytm brand, on Saturday(21st May 2022) said it has formed a joint venture general insurance company in which it has committed to invest Rs 950 crore over a period of 10 years.

The proposal to set up joint venture firm Paytm General Insurance Limited (PGIL) was approved by the board on 20th May 2022, the company said in a regulatory filing.

Initially, One97 Communications (OCL) will hold a 49 per cent stake in PGIL while the rest of the 51 per cent stake is to be owned by OCL's managing director Vijay Shekhar Sharma owned and controlled company VSS Holding Private Limited (VHPL).

Post the investment, Paytm will hold 74 per cent stake in PGIL, reducing VHPL's stake in the company to 26 per cent..

Source : Economic Times

2 .

Which company to acquire wealth management platforms Wealthdesk, Open IQ for $75 million?

A)

Paytm

B)

BharatPe

C)

PhonePe

D)

PayPal

Correct Answer : PhonePe

Walmart-backed PhonePe on Wednesday said it is acquiring two wealth management platforms WealthDesk and Open IQ. While PhonePe did not disclose the deal size, sources aware of the development said that the total deal is in the range of USD 75 million."PhonePe is acquiring WealthDesk ('Wealth Technologies & Services Private Limited'). The founder and the entire team will be working as a part of the PhonePe group and both the platforms will remain independent," Phonepe said.

* A PhonePe spokesperson said that WealthDesk will continue to remain an open platform for all players, and the founder Ujjwal Jain will continue defining the vision for his company.

* The valuation of Wealthdesk is over USD 50 million, the source said.

* PhonePe is also acquiring OpenQ (Quantech Capital Investment Advisors Private Limited), subject to necessary regulatory approvals..

Source : Zee News

3 .

Which company bought 9.8% stake in Vodafone for $ 4.4 billion?

A)

Telecom Egypt

B)

MTN Group

C)

Absa Group Limited

D)

Etisalat Group

Correct Answer : Etisalat Group

Emirates Telecommunications Group Company PJSC “e&" (Etisalat Group) has acquired approximately 2,766 million shares in Vodafone Group Plc aggregating to $4.4 billion.

The shares represent 9.8% of Vodafone's issued share capital.

The transaction is in process with e&’s ambition to be a global player in telecom and technology.

Vodafone Headquarters : Berkshire, United Kingdom;

Chairman : Jean-Françols van Boxmeer

Source : Live Mint

4 .

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

5 .

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

6 .

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

7 .

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

8 .

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

9 .

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

10 .

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