To pass the Union Public Service Commission (UPSC) Civil Services exam, one has to learn a number of subjects. Among them, current events are an important part of the syllabus. So, here’s your weekly dose of news from the past week.
Life Insurance Corporation (LIC) is listed
The state insurance group and investment company has laid out plans and will open its IPO (Initial Public Offering) on May 14. This is also India’s largest IPO to date. With this, the Indian government aims to sell its 3.5 percent stake in the company and meet its divestment targets for this fiscal year. LIC is expected to collect Rs 21,000 crore through its IPO in the upper band. The price range of the IPO has been set between Rs 902 and Rs 949 per share.
Prime Minister Launches India’s First Semicon
Prime Minister Narendra Modi inaugurated the Semcion India Conference 2022 on April 29. The Prime Minister emphasized the role of semiconductors in today’s world and wanted to make India a global semiconductor hub. Electronics and IT Minister Ashwini Vaishnaw announced that the government plans to grant approvals to electronic chip manufacturers in 6-8 months. With this, the government wants to start producing semiconductors in its own country.
Elon Musk takes over Twitter
Elon Musk, the world’s richest person and founder of SpaceX, struck a deal to acquire the microblogging site Twitter for about $44 billion. By taking over the platform, Musk claims he wants to bring free speech to Twitter and says he will unlock its extraordinary potential.
Heat wave conditions across India
Parts of India witnessed the hottest March in more than a century this year. According to the Indian Meteorological Department (IMD), many places falter under heat wave conditions and record the highest temperature. Banda in eastern Uttar Pradesh witnessed the highest temperature of 47.4 degrees Celsius in April. Several other places crossed the 46 degrees Celsius mark, including Allahabad, Lucknow and Jhansi. Delhi, meanwhile, experienced its warmest April in 12 years, with a mercury of 43.5 degrees Celsius on Thursday.
Russia and Ukraine conflict
Russia has continued its invasion of Ukraine and has destroyed the port city of Mariupol. However, they have failed to take over the last resistance area, which is said to be a huge steel factory where soldiers and civilians live in Mariupol. Meanwhile, the US president has asked Congress to approve $33 billion in aid to Ukraine. German lawmakers, on the other hand, voted to supply Ukraine with heavy weapons, including anti-aircraft systems and armored vehicles.
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