Who will take over as the Chief Executive of the Alibaba Company?

Daily Current Affairs

Eddie Woo

Eddie Wu

Jin yuanying

Peng Lei

Correct Answer : Eddie Wu

Alibaba announced a major leadership reshuffle on Tuesday (20th June 2023), with CEO and Chairman Daniel Zhang planning to step down this year (2023) and be replaced by veterans at the Chinese tech giant.

Eddie Yongming Wu will step in as CEO, While Joe Tsai will take over as chairman on September 10th, 2023.

He was appointed as the company's CFO until 2013.

The two executives are Alibaba veterans and close confidant of Alibaba’s billionaire founder Jack Ma.

Eddie Wu, incoming CEO :

Eddie Wu is one of the co-founders of Alibaba, who first served it as a technology director back in 1999. His experience is in the company’s core e-commerce business, monetization and technology, making him a well-rounded candidate to oversee the entire group.

After Alibaba decided to split into six units he was appointed as the chairman of the Taobao and Tmall Group — previously, the two units were the two biggest e-commerce services in China.

Wu has also been the chief technology officer of key businesses including Taobao and Alipay, the mobile payments service run by Alibaba affiliate Ant Group. He was in charge of Alibaba’s monetization platform on Taobao and Tmall, as well as directing efforts to push the Taobao mobile app that propelled the company into the smartphone era..

Source : CNBC

Published On : June 23, 2023

Solar’s Ascendance in India :

In 2015, India ranked ninth in solar energy deployment, but by 2023, it produced 5.8% of its electricity from solar, up from 0.5% in 2015. This significant increase underscores India’s commitment to clean energy and its pivotal role in mitigating climate change.

Global Solar Growth Trends :

Ember’s report highlights that solar energy witnessed a remarkable increase globally, with 2023’s solar generation exceeding six times that of 2015. The top four solar growth countries, including India, accounted for 75% of this growth, emphasizing the widespread adoption of solar power worldwide.

Published On : May 9, 2024

Q .

India's Toy Exports Slip to _____ Million in 2023-24

$102.92

$121.19

$139.53

$152.34

Correct Answer : Option (D) - $152.34

India’s toy exports experienced a slight decline to USD 152.34 million in the fiscal year 2023-24, with limited benefits from quality control measures. Despite efforts to bolster the domestic industry and ensure product safety, exports did not see significant improvement.

Declining Export Trends :

Export figures dropped marginally from USD 153.89 million in the previous fiscal year to USD 152.34 million in 2023-24, as outlined by the Global Trade Research Initiative (GTRI). Despite a modest increase in exports from FY’2020 to FY’2022, the subsequent year witnessed a downturn.

Import Trends :

Conversely, imports rose to USD 64.92 million in 2023-24 from USD 62.37 million in the preceding year, indicating a persistent challenge in balancing trade dynamics.

GTRI’s Recommendations :

Comprehensive Industry Development Strategy : GTRI Founder Ajay Srivastava emphasized the necessity for a holistic approach to foster the growth of India’s toy industry and bolster exports.

Domestic Ecosystem Strengthening : Developing a robust domestic ecosystem is paramount, alongside measures to encourage renowned global toy brands to establish manufacturing facilities within India’s borders.

Published On : May 9, 2024

Q .

India Leads Global Remittances, Surpassing _____ Billion Mark.

$50

$100

$200

$250

Correct Answer : Option (B) - $100

India emerged as the global leader in remittances in 2022, receiving over $111 billion, surpassing the $100 billion mark for the first time. The International Organisation for Migration (IOM) highlighted India, alongside Mexico, China, the Philippines, and France, as the top five remittance recipient countries.

Consistent Growth: From $53.48 Billion to $111.22 Billion

The UN’s World Migration Report 2024 underscored India’s consistent growth in remittances, noting a rise from $53.48 billion in 2010 to $111.22 billion in 2022. This significant increase showcases India’s pivotal role in the global remittance landscape.

Southern Asia’s Significance in Global Remittances :

The IOM emphasized Southern Asia’s importance as a major recipient of global remittances, attributed to its high proportion of migrant workers and emigrants. India, Pakistan, and Bangladesh all ranked among the top ten recipients worldwide, highlighting the sub-region’s reliance on labor migration.

Prominent Migration Corridors and Destination Countries :

While India ranks 13th as a destination country for immigrants, it features prominently in various international migration corridors, including India-United Arab Emirates, India-Saudi Arabia, and Bangladesh-India, all of which are among the top 10. This indicates India’s significant role in global labor migration patterns.

Published On : May 9, 2024