Correct Answer :   Bill Gates

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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

Correct Answer :   INS Sindhukesar

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In line with the expanding military cooperation with South East Asian nations, an Indian Navy Kilo class conventional submarine, INS Sindhukesari, docked in Jakarta, Indonesia, for the first time from February 22 to 24, 2023.

The 3,000-tonne conventional diesel-electric submarine made its way to the Indonesian capital of Jakarta to dock after traversing through the nearby Sunda Strait.

The submarine, which was on operational deployment, travelled through the Sunda Strait and undertook the maiden docking in Indonesia for Operational Turnaround (OTR), Naval ships regularly make port calls to countries in the region.

The OTR in Jakarta, over 2,000 nautical miles away from its home base in Visakhapatnam, significantly expands the area operational reach of the submarine arm near crucial shipping lanes and the strategic Malacca Strait. In the past, Indonesia gave access to its Sabang port to Indian Naval ships for operational turnaround.

India has steadily expanded its defence and security cooperation with countries in the region, many of which are engaged in disputes with China in the South China Sea.

In recent years, India has signed logistics support agreements with several countries to enhance reach and sustenance of military assets while deployed far from home.

INS Sindhukesari had undergone a major Rs 1,197-crore ‘medium refit-cum-life extension’ at Severodvinsk in Russia that ended in 2018, as part of the ongoing plan to upgrade four old Sindhughosh-class (Russian-origin Kilo-class) and two Shishumar-class (German HDW) submarines to stem depletion in the underwater fleet.

The submarine’s deployment to Indonesia comes soon after India conducted operational training to handle the BrahMos supersonic cruise missiles for 21 military personnel from Philippines at Nagpur earlier this month.

India will supply three missile batteries of the shore-based anti-ship systems of the BrahMos, a deadly conventional (non-nuclear) weapon that flies almost three times the speed of sound at Mach 2.8 with a strike range of 290-km, under the $375 million contract inked in January..

Source : The Hindu

Correct Answer :   Infosys

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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

Correct Answer :   6 Submarines

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* German Chancellor Olaf Scholz’s visit to India on February 25–26, 2023 will focus on advancing a $5.2 billion agreement between Germany and India to jointly construct six(6) conventional submarines in India.

* The naval project is a Western military manufacturing power’s most recent effort to wean New Delhi off of its reliance on Russian military hardware.

* India seeks to replace its ageing submarine fleet, with 11 of its 16 conventional submarines more than two decades old, and as it seeks to counter China’s growing presence in the Indian Ocean.

* The Indian Navy also has two indigenous nuclear-powered submarines.

* The central government wants the country to manufacture more weapons at home in collaboration with foreign partners after decades of being one of the world’s largest arms importers.

* The submarine project, for which Germany’s ThyssenKrupp Marine Systems (TKMS) is one of two international bidders, will be discussed between the two countries during Scholz’s trip and Berlin would support the deal.

* Under the deal, a foreign submarine manufacturer will have to partner with an Indian company to build the submarines in the country.

* The foreign company will also need to transfer a niche technology for fuel-cell based Air Independent Propulsion (AIP), a clause that has been a sore point for most foreign firms.

* France’s Naval Group had pulled out of the project just ahead of Modi’s visit to Paris in May 2022, citing its inability to meet conditions listed by the Indian government in 2021..

Source : Business Standard

Correct Answer :   RRR

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The RRR juggernaut rolls on with back-to-back wins at the Hollywood Critics Association (HCA) Awards in Los Angeles. The film won Best International Film along with 3 big awards, including Best Action Film, Best Stunts, and Best Original Song.

* The film's director SS Rajamouli and lead actor Ram Charan received the award. Jr NTR was MIA at the ceremony.

* Team ‘RRR’ is currently in Los Angeles and will be attending the Oscars on March 12. ‘RRR’ song ‘Naatu Naatu has been nominated for the Oscars in ‘Original Song’ category.

* In January this year (2023), ‘Naatu Naatu’ won the Golden Globes in the ‘Best Original Song’ category.

* ‘RRR’ bagged two more awards at the 28th edition of the Critics Choice Awards.’RRR’ starring Jr NTR and Ram Charan bagged the Critics’ Choice Award for Best Song for its track ‘Naatu Naatu’.

* It also picked up the ‘Critics’ choice award for ‘Best Foreign language film’ in a ceremony held in Los Angeles.

About the RRR Movie :

* RRR is a fictional story based on the lives of two Telugu freedom fighters, Alluri Seetharama Raju and Komaram Bheem. Ram Charan and Jr NTR played lead roles, respectively.

* The film collected over ₹1,200 crore worldwide. Alia Bhatt, Ajay Devgn and Shriya Saran also starred in the film.

* This lyrical composition of ‘Naatu Naatu’ by MM Keeravani, high energy rendition by singers Rahul Sipligunj and Kaala Bhairava, unique choreography by Prem Rakshith, and lyrics by Chandrabose are all the elements that make this ‘RRR’ mass anthem a perfect dance craze...

Source : Mint

Correct Answer :   $2.5 Billions

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* The World Bank on Friday (24th Feb 2023) announced $2.5 billion in additional grant financing from the U.S. Agency for International Development (USAID) to support Ukraine's budget and maintain essential services.

* The latest financing under the World Bank's Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project lifts the total to $20.6 billion and will support salaries in core government functions and sectors such as healthcare and education while allowing Kyiv to pay pensions and support internally displaced people.

* "One year into Russia’s invasion of Ukraine, the world continues to witness the horrific destruction inflicted on the country and its people," said World Bank Group President David Malpass.

* He said that $18.5 billion of the total funds mobilized had been disbursed, reaching more than 12 million Ukrainians.

* The additional funding was announced a day after U.S. Treasury Secretary Janet Yellen said that Washington was preparing an additional $10 billion in economic assistance for Ukraine and called on the International Monetary Fund to pull together a loan programme for Ukraine.

* Ukraine is seeking a $15 billion multi-year IMF package.

* The World Bank-facilitated financing under the PEACE program is set up to minimize the risk of corruption. The World Bank transmits funds to cover Ukraine’s expenditures a month after they are made, once it has verified that the money has gone to the government employees, pensioners and other recipients.

* The latest USAID funds will be transmitted to the government of Ukraine after the World Bank verifies eligible expenditures.

* The total of $20.6 billion in emergency financing comes from commitments and pledges from, the United States, Britain, the Netherlands, Spain, Norway, Germany, Canada, Switzerland, Sweden, Denmark, Austria, Finland, Ireland, Lithuania, Latvia, Iceland, Belgium, and Japan...

Source : Mint

Correct Answer :   New Delhi

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* Sports Secretary Sujata Chaturvedi on Friday (24th February 2023) inaugurated the three-day All-India Taekwondo Championship in New Delhi.

* The championship is being organised to commemorate the 50th year of diplomatic ties between Korea and India and to revitalize Taekwondo that has been stagnant since the pandemic, and to lay the foundation for the future as a major sports event between the two countries. 

* The Sports Authority of India (SAI) is co-hosting the event with Korean Cultural Centre India and Korea National Sports University. 

* Speaking on the occasion, the Sports Secretary expressed hope that this sporting event will further strengthen the ties between the two countries.
 
* The Taekwondo Championship is being held at  Indira Gandhi Indoor Stadium in the national capital and has been divided in two parts - Poomsae and Sparring called Kyorugi.

* Only elite Taekwondo players registered in 79 regional centers and regional training centers of Sports Authority of India will participate in the sparring category and the Poomsae category is open to the public anyone with a Kukkiwon-certified Taekwondo dan certificate can participate..

Source  : AIR

Correct Answer :   Niva Bupa Health Insurance

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Niva Bupa Health Insurance on Thursday (23rd February 2023) announced the launch of health insurance policy 'ReAssure 2.0'. The first of its kind indemnity plan offers lock-in of entry age until a policyholder makes his/her first claim, thereby helping customers save on premiums.

* Niva Bupa Health Insurance MD and CEO Krishnan Ramachandran said with this product, "we have addressed the prevailing concerns of customers which act as a hindrance during health insurance purchase.

Aim : To encourage customers to start investing for their health and financial security at an early age.

* This new-age indemnity plan offers 'live healthy' benefit that gives premium discount of up to 30 per cent on policy renewal basis health points earned.

* Other benefits include, no capping on room rent, any hospitalisation of 2 hours and above to be covered, Smart Health+ rider - offering unlimited tele consultations - and Day 1 coverage for diabetes and hypertension.

* The product is available as an individual, multi-individual and family floater starting from Rs 5 lakh to Rs 1 crore for the age bracket of 18 years to 65 years..

Source : India Times

Correct Answer :   Dunzo delivery

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Dunzo delivery and Alliance Insurance Brokers have joined hands to provide insurance to the former’s national network of delivery partners.

Through this initiative, Alliance Insurance Brokers is providing insurance protection to almost 20,000 delivery partners, insured on a daily basis, while they are active on the platform.

In case there is an accident, the policy offers a benefit of Rs 5 lakh to cover children’s education, and reimburse business losses and hospitalisation expenses etc.

There is also an OPD (Outpatient Department) component, under which delivery partners get compensated even in cases where hospitalisation is not required and the accident can be treated through OPD consultation and medication.

Speaking on the partnership, Ankit Shah, AVP, City and Supply Operations, said, “We are a people-first organisation and partner welfare has always been a priority for us. Delivery partners are an integral part of Dunzo’s growth. The partnership with Alliance Insurance Brokers is a natural progression to support delivery partners in their times of need.”

Dunzo has sponsored the entire premium for their delivery partners and Alliance Insurance Brokers ensures a smooth end to end insurance process...

Source : Business Standard

Correct Answer :   Federal Bank

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Federal Bank, a leading private sector bank in India, has inaugurated Thursday (23rd Feb 2023) a 100KWp on-grid solar power plant at its corporate office, Federal Towers in Aluva.

The solar plant was inaugurated by the Bank’s MD & CEO, Shyam Srinivasan, in the presence of other senior executives of the Bank.

Speaking at the inauguration, Shyam Srinivasan said, “We are delighted to inaugurate the solar power plant, which is a significant milestone in our sustainability journey. This initiative is in line with our commitment to reducing our carbon footprint and promoting clean energy. With this installation, we will be able to reduce emissions by 129 tCO2 every year.”

* Federal Bank has been committed to promoting renewable energy and reducing its carbon footprint.

* With the inauguration of this solar power plant, the total capacity of solar plant installations at Federal Bank has increased to 300KWp.

* The units being generated out of this powerplant will reduce the consumption of power by 20%.

* The Bank has also installed solar panels at several of its branches and offices across the country. The Bank is strengthening its Rishta with the environment with these initiatives

The event was attended by the Bank’s executives, including Venkatraman Venkateswaran, Group President & CFO, Ajith Kumar K K, President & CHRO, Damodaran C, SVP & Chief Risk Officer, and Hema Sivadasan, DVP & Head Corporate Services, who expressed their support for the Bank’s sustainability initiatives.