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CURRENT AFFAIRS : BANKING & FINANCE
Bank of Maharashtra Leads PSU Lenders in Business Growth for FY24
- State-owned Bank of Maharashtra (BoM) recorded the highest growth rate last fiscal in terms of total business and deposit mobilisation among public sector lenders at a time when most banks are facing difficulty in achieving double-digit growth.
- The Pune-headquartered lender has registered a 15.94% rise in the total business (domestic) in FY24, followed by the country’s largest lender State Bank of India (SBI) with 13.12% growth.
- However, SBI’s total business (deposit and advances) was about 16.7 times higher at Rs 79,52,784 crore compared to Rs 4,74,411 crore of Bank of Maharashtra (BoM) in absolute terms.
- Similarly, BoM continued to maintain its top spot in terms of growth in deposit mobilisation, with a 15.66% rise in FY24.
- It was followed by SBI (11.07%), Bank of India (11.05%) and Canara Bank (10.98%).
- Out of 12 public sector banks, only these four lenders could log a double-digit growth in deposits in the financial year 2023-24.
Key Highlights :
- In terms of low-cost CASA deposits, the Bank of Maharashtra continued to top the chart with 52.73% growth, followed by the Central Bank of India with a 50.02% rise at the end of March 2024.
- A higher level of current account and savings accounts helps banks to keep their cost of funds low.
- With regard to loan growth, the Kolkata-based UCO Bank was a tad higher at 16.38%, followed by BoM at 16.30%.
- SBI also reported 16.26% growth in advances in FY24.
- Loan growth of remaining public sector banks was lower than 16% during the fiscal.
- On the asset quality side, the Bank of Maharashtra and SBI reported the lowest gross non-performing assets with 1.88% and 2.24%, respectively, as of March 31, 2024.
- In terms of net NPAs, BoM and Indian Bank reported the lowest numbers, with 0.2% and 0.43%, respectively.
- In terms of capital adequacy ratio, the Bank of Maharashtra was leading PSBs at 17.38%, followed by Indian Overseas Bank at 17.28% and Punjab & Sind Bank at 17.16 at the end of FY24.
About BoM :
- Established : 16 September 1935
- Headquarters : Pune, Maharashtra
- MD & CEO : Nidhu Saxena
- Tagline : One Family One Bank
Indian Banking Sector Surpasses IT with Net Profit Exceeding ₹3 Lakh Crore in FY24, Up 39% YoY
- India’s banking sector achieved a milestone as its net profit surpassed Rs 3 lakh crore for the first time in FY24.
- The combined net profit of listed public and private sector banks surged by 39%, reaching Rs 3.1 lakh crore compared to Rs 2.2 lakh crore in FY23.
- The Rs 3 lakh crore figure is roughly equivalent to the cumulative quarterly profits of all listed companies during the initial three quarters of the fiscal year.
Key Highlights :
- Comparison with IT Sector : The profits of banks surpass those of IT services, which have traditionally been the most profitable sector in recent times.
- In FY24, listed IT services companies recorded a net profit of close to Rs 1.1 lakh crore, considerably lower than the profits generated by banks.
- Performance of Public Sector Banks (PSBs):Public sector banks achieved a record net profit of Rs 1.4 lakh crore, marking a 34% rise from the previous year.
- PSBs have shown a significant turnaround story from record losses in FY18 to record profits in FY24.
- Performance of Private Sector Banks:Private sector banks saw their net profit increase by 42% to nearly Rs 1.7 lakh crore, up from Rs 1.2 lakh crore a year ago.
- PSB is a turnaround story from record losses of Rs 85,390 FY18 to record profit in FY24. India’s 12 Public Sector Banks (PSBs) together had earned a net profit of Rs Rs 1,04,649 crore in 2022-23
- Individual Bank Performance:Punjab & Sind Bank was the only public sector bank out of 12 to report a drop in profit during the year.
- Comparison with Other Companies: Reliance Industries still holds the highest annual profit of Rs 79,020 crore on a consolidated basis.
- However, its standalone profit remained flat at Rs 42,042 crore in FY24.
- Among the top 10 listed companies, TCS reported a net profit of Rs 43,559 crore for FY24, followed by Indian Oil (Rs 39,618 crore), ONGC (Rs 38,828 crore), and Infosys (Rs 27,234 crore).
Securities and Exchange Board of India Overhauls Market Cap Calculation Method for LODR Compliance
- Market regulator Securities and Exchange Board of India (SEBI) has modified the basis for the computation of market capitalisation of listed companies under its Listing Obligations and Disclosure Regulations (LODR) regulations.
- As against an earlier practice of determining the applicability of provisions linked to market capitalisation on a single day’s market cap (currently calculated on March 31), SEBI has now introduced a concept of ‘average market capitalisation’ for a defined period.
Key Highlights :
- Impact on LODR Provisions:This latest SEBI move will have a bearing on as many as ten provisions in the LODR Regulations that apply to listed entities based on market capitalisation.
- Change in Cut-off Date : Under the new method, Instead of using the market capitalization of entities as of March 31, SEBI will now consider December 31 as the cut-off date for calculation.
- Determination of Ranking:The ranking will be based on the average market capitalization figures of listed entities during the preceding six months (July 1 to December 31).
- Transition Period:After determination of the ranking on December 31, a time period of three months (or beginning of immediate next financial year, whichever is later ) has been provided before the relevant provisions of the LODR regulations (market capitalisation based compliance requirements) become applicable to a listed entity for the first time or after an interim break period.
- Reason for Modification:This modification aligns with the recommendations of a SEBI-appointed expert committee, chaired by former wholetime member S K Mohanty, aiming to facilitate ease of doing business.
About SEBI :
- Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
- Headquarters : Mumbai, Maharashtra
- Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
- SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.
Policybazaar Introduces Claim Assurance Program to Expedite Motor Insurance Claims
- Online insurance marketplace Policybazaar has introduced its ‘Claim Assurance Program’ to accelerate the motor insurance claims process.
- The program aims to provide swift and efficient claims support across more than 1000 PIN codes, targeting both metropolitan areas and tier 2 and 3 regions.
- The initiative is part of Policybazaar’s broader strategy to enhance its claims assistance across all insurance verticals.
About Policybazaar :
- Founded : July 2008
- Headquarters : Gurgaon, Haryana, India
- Founders : Yashish Dahiya, Alok Bansal, Avaneesh Nirjar
- Policybazaar is an Indian insurance aggregator and multinational financial technology company.
- Policybazaar is the flagship subsidiary of PB Fintech Limited., which also owns the credit product aggregator Paisabazaar.
CURRENT AFFAIRS : INTERNATIONAL NEWS
World Health Organization Prequalifies Second Dengue Vaccine by Japanese Drugmaker Takeda Pharmaceuticals
- The World Health Organization (WHO) has prequalified the second dengue vaccine developed by Japanese drugmaker Takeda Pharmaceuticals.
- This live-attenuated vaccine, known as TAK-003, contains weakened versions of four serotypes of the virus that cause dengue.
- This means that TAK-003 contains weakened forms of four types of dengue virus, which helps the body build immunity without causing disease.
Key Highlights :
- The meaning of WHO pre-qualification for a vaccine is that the health agency has evaluated and approved the vaccine for quality, safety, and efficacy.
- TAK-003 can be given to children aged 6 to 16 years who have more chances of dengue and intensity of transmission.
- According to WHO, the vaccine should be administered in a 2-dose schedule with an interval of 3 months between doses.
- Prior to TAK-003, WHO had prequalified the CYD-TDV vaccine developed by Sanofi Pasteur for dengue.
Dengue Disease Overview :
- Dengue is a mosquito-borne disease that is life-threatening in many cases.
- It is spread by the bite of an infected mosquito.
- Approximately 3.8 billion people live in dengue-endemic regions, primarily in Asia, Africa, and the Americas.
- Globally, there are between 100 and 400 million dengue cases reported annually.
About WHO :
- Established : 7 April 1948
- Headquarters : Geneva, Switzerland
- Director General : Tedros Adhanom Ghebreyesus
- Parent Organisation : United Nations Economic and Social Council
- The WHO is a specialized agency of the United Nations responsible for international public health.
Ibu Volcano Erupts on Indonesia’s Remote Halmahera Island
- The Ibu volcano on Indonesia’s remote island of Halmahera erupted.
- Hundreds of people living near an erupting volcano in eastern Indonesia have been evacuated after authorities raised the alert level to the highest level.
Key Details :
- The Ibu volcano spews ash and smoke up to 5,000 meters (16,400 feet) into the sky.
- Ibu is one of Indonesia’s most active volcanoes, with over 21,000 eruptions recorded in 2023.
- As of 2022, more than 700,000 people live on the island of Halmahera, potentially affected by the volcanic activity.
About Indonesia :
- President : Joko Widodo
- Capital : Jakarta
- Currency : Indonesian rupiah
CURRENT AFFAIRS : STATE NEWS
Ambaji Marble from Gujarat Receives Geographical Indication (GI) Tag from Central Government
- Marble mined in Gujarat’s Ambaji has been awarded the Geographical Indication (GI) tag by the Central Government.
About Ambaji Marble :
- Ambaji Marble is renowned for its stunning white appearance and unique natural patterns.
- Mined since the early medieval period from Ambaji in Gujarat’s Banaskantha district, it is one of the most popular marbles in India.
- It is also known as Amba White Marble and Ambe White Marble.
- It’s to be noted that Ambaji is famous for its white marble as it has the maximum whiteness in the range of 95.80 – 96.30 percent.
- It is characterized by its pristine white colour, which often features subtle grey or beige veining.
- It has a very long-lasting shine and durability.
About Marble :
- Marble is a metamorphic rock formed from limestone under the heat and pressure of metamorphism.
- Primarily composed of the mineral calcite (CaCO3) and may contain other minerals like clay minerals, micas, quartz, pyrite, iron oxides, and graphite.
About GI Tag :
- A GI, a kind of Intellectual Property Rights (IPR), is primarily an agricultural, natural or manufactured product (handicraft and industrial goods) originating from a definite geographical territory.
- A GI is a label that is applied to products that have a specific geographical origin and that have characteristics related to a particular location.
- The tag is valid for a period of 10 years after which it is renewed.
About Gujarat :
- Governor: Acharya Devvrat
- Chief minister: Bhupendrabhai Patel
- Capital: Gandhinagar
- National Park : Vansda National Park, Gir National Park, Marine National Park, Velavadar National Park
- Wildlife Sanctuaries : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Shoolpaneshwar Wildlife Sanctuary
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Taiwan’s Ruling DPP’s Lai Ching-Te Sworn In As New President
- Lai Ching-te of Taiwan’s ruling Democratic Progressive Party (DPP) has been sworn in as the self-governing island’s new President.
- Lai succeeds Tsai Ing-wen to lead Taiwan amid increasing threats from China, which claims the island as its territory.
- Lai Ching-te is the third member of the DPP to assume the office of president.
- He is also the third incumbent ROC (Republic of China) vice president to succeed to the presidency and the first to assume the office through election instead of immediate succession.
- Taiwan has had an independent government since 1949, separate from the People’s Republic of China.
- Vice President Hsiao Bi-khim was also officially sworn in alongside President Lai.
- She previously served as Taiwan’s de facto ambassador to the US from 2020 to 2023 and held positions as a DPP lawmaker for several terms.
About Lai Ching-te :
- Lai Ching-te, also known as William Lai, is a Taiwanese politician and former physician.
- He has also served as the chair of the DPP since 2023.
About Taiwan :
- Capital : Taipei
- Currency : New Taiwan dollar
CURRENT AFFAIRS : PERSON IN NEWS
America’s First Black Astronaut Candidate, Ed Dwight, Becomes Oldest Person to Reach Space
- Ed Dwight, a 90-year-old artist and former Air Force test pilot who was denied a chance to become the first African American astronaut six decades ago, finally rocketed into space, fulfilling a cherished dream in a brief up-and-down flight out of the lower atmosphere.
Key Highlights :
- President John F. Kennedy initially chose Ed Dwight, an Air Force pilot, to be the candidate for NASA’s inaugural Astronaut Corps.
- However, he was not selected for the final flight in 1963.
- NASA did not select black astronauts until 1978, when Guion Bluford became the first African American in space.
- The Soviets launched the first black astronaut, Arnaldo Tamayo Mendez, a Cuban citizen of African descent, 3 years before NASA selected its first black astronaut.
- Prior to Ed Dwight, “Star Trek” actor William Shatner held the record as the oldest person to go into space in 2021.
- Ed Dwight became the new record holder for the oldest person in space after his quick trip from West Texas.
CURRENT AFFAIRS: AWARDS AND HONOURS
Pawan Sindhi Honoured With Global Pride Of Sindhi Award 2024
- Pawan Sindhi received the coveted Global Pride of Sindhi Award 2024 on an occasion attended by renowned saints, Mahatmas, and sadhus.
- The event commemorated Mr. Sindhi’s outstanding achievements in society and commitment to serve humanity.
- The Global Pride of Sindhi Award 2024 is a well-deserved distinction for Pawan Sindhi, acknowledging his remarkable efforts to positively impact society.
- His commitment to the advancement of humanity inspires others and encourages them to actively contribute to societal well-being.
Dr Soumya Swaminathan to be awarded honourary doctorate by Canada’s McGill University
- Dr Soumya Swaminathan, most recently WHO’s Chief Scientist, has been named among the 10 exceptional individuals who will receive honorary degrees from Canada’s prestigious McGill University as part of the Spring 2024 Convocation ceremonies.
- In 2017, Swaminathan joined the World Health Organisation (WHO) as Deputy Director General (Programmes), and, in March 2019, was named its first Chief Scientist, a role she filled through the Covid-19 pandemic until late 2022.
Chandrakant Satija Honored with Global Excellence Award 2024 for Outstanding Contributions in Education
- Chandrakant Satija, the Founder and CEO of Chandra Admission Consultants, wins the Global Excellence Award 2024 for being the “Most Trusted Admission Consultant in Vidarbha Region”.
- Chandrakant Satija, a renowned educationist and the Founder and CEO of Chandra Admission Consultants was honored with the Global Excellence Award 2024 at a grand event held at Sahara Star Hotel in Mumbai on May 12th.
- The award was presented to him by the famous Bollywood actress Shilpa Shetty Kundra.
- He was adjudged as the Most Trusted Admissions Consultant in Vidarbha Region.
CURRENT AFFAIRS: RANKING AND INDEX
Mumbai and Delhi feature among the World’s Top 50 Wealthiest cities, surpassing Washington DC
- Henley and Partners, a leader in residence and citizenship planning, recently unveiled a list of the World’s Wealthiest Top 10 cities and Rising Wealth Hubs, highlighting cities that attract high-net-worth individuals (HNWIs) with liquid investable wealth of USD 1 million or more.
Mumbai and Delhi’s Rise
- Mumbai and Delhi’s inclusion in the top 50 wealthiest cities underscores India’s economic progress and urban development.
- On the list they ranked above, Washington, DC the capital city of the World’s richest country.
- These cities have become magnets for HNWIs, offering a blend of economic opportunities and cosmopolitan lifestyles.
Global Wealth Centers
- Mumbai and Delhi join other global financial hubs, such as New York, London, and Tokyo, in the list of top 50 wealthiest cities.
- These cities offer upscale living options and serve as centers for trade, commerce, and innovation.
- New York leads the pack, boasting 349,500 millionaires and a wealth exceeding $3 trillion.
- The Bay Area tech hub, Tokyo, Singapore, London, Los Angeles, Paris, Sydney, Hong Kong, and Beijing complete the top 10. These cities offer diverse opportunities and amenities, attracting affluent individuals and businesses.
Future Outlook
- Investment migration programs in cities like New York, Singapore, and Sydney are attracting wealthy individuals seeking diversification and secure havens.
- The report anticipates Dubai’s rise in the ranking, with Abu Dhabi also showing promising growth rates.
- The 2024 World’s Wealthiest Cities Report highlights a shifting global wealth landscape, with Asia Pacific emerging as a powerhouse. While traditional wealth centers like New York retain dominance, the rise of cities like Bengaluru underscores the changing dynamics of global wealth distribution.
- As cities compete to attract the world’s affluent, investment migration programs and favourable policies play a crucial role in shaping the future of global wealth hubs.
CURRENT AFFAIRS : SCIENCE & TECHNOLOGY
Google Unveils New Personal AI Assistant at I/O Event, Potential Successor to Google Assistant
- As part of its suite of announcements during its high-profile I/O event, Google announced a brand new personal AI Assistant that could be the successor to the Google Assistant.
- It’s called “Project Astra” and it’s powered by Gemini AI.
About Project Astra :
- Project Astra is powered by Gemini AI, Google’s advanced artificial intelligence technology.
Capabilities :
- Project Astra can see the world around you and answer questions about it.
- It can answer real-time questions fed to it through various modalities: text, video, images, and speech.
- The AI can remember the location of objects, verify computer code accuracy via a phone’s camera, and provide relevant information based on its observations.
- Multimodal AI Agent:Project Astra is a multimodal AI agent, meaning it can process information from different modalities, including images, videos, and text.
- Multimodal Model:A multimodal model is a machine learning (ML) model capable of processing diverse information types from various sources like images, videos, and text, providing a comprehensive understanding and response capability.
About Google :
- Founded : September 4, 1998
- Headquarters : California, U.S
- CEO : Sundar Pichai
CURRENT AFFAIRS: SPORTS NEWS
Martín Wins the 2024 French Grand Prix
- Jorge Martin extended his lead in the championship with a thrilling victory in the French MotoGP at Le Mans
- The Spaniard, who won sprint, battled the entire race with rival Francesco Bagnaia before Marc Marquez arrived late to steal second place.
- Pramac Ducati rider Martin heads the standings with 129 points, 38 ahead of Bagnaia who moved into second spot.
- Martin, a winner already this season in Portugal, did not make the best of starts from pole position, losing first place to Bagnaia on the opening lap.
Japanese Men’s Hockey Team Etched Its Name In History Books By Clinching Its Maiden Sultan Azlan Shah Trophy Title
- The Japanese men’s hockey team made history when it won the Sultan Azlan Shah Trophy for the first time.
- The match against Pakistan concluded in a 2-2 tie after regulation time, forcing a penalty shootout.
- Japan triumphed, defeating Pakistan 4-1 in a nail-biting shootout at the Azlan Shah Stadium in Ipoh, Malaysia.
- The 2024 edition of the famous competition featured six teams: Japan, Pakistan, Canada, South Korea, New Zealand, and Malaysia, who hosted the event. Japan won the championship, with Pakistan finishing second.
Malaysia came in third, followed by New Zealand, South Korea, and Canada in the final standings.
- India, a regular participant and five-time winner of the Sultan Azlan Shah Trophy (1985, 1991, 1995, 2009, 2010), did not compete in this year’s competition.
- The Indian team elected to focus their preparations on the upcoming 2024 Paris Olympics, which begin on July 26, 2024.
- Furthermore, the level of the teams competing in this year’s Sultan Azlan Shah Trophy was quite low, with New Zealand placing tenth in the globe.
About The Sultan Azlan Shah Trophy
- The Malaysia Hockey Confederation organizes the Sultan Azlan Shah Trophy, which invites six countries to compete.
- It began as a biennial competition in 1983 but grew in popularity to become an annual event in 1999.
- The trophy is named after Sultan Azlan Shah, the former Sultan of Perak, Malaysia, who was a hockey pioneer in Asia and served as president of the Asian Hockey Federation from 1990 to his death in 2014.
- The competition takes place every year in Ipoh, Malaysia’s capital of Perak. Australia is the competition’s most successful team, having won ten times, followed by India with five wins and Pakistan with three.
Maximus Magnus Carlsen wins ten in-a-row to become a clear champion at Superbet Rapid and Blitz 2024
- Magnus Carlsen won ten games in a row to win Grand Chess Tour Superbet Rapid and Blitz 2024.
- He scored 26/36, finished a half point ahead of Wei Yi (CHN).
- Despite being 2.5 points ahead of Carlsen, he scored 1.5/2 in the first two games, then he lost to Jan-Krzysztof Duda (POL).
- Immediately in the following round Magnus defeated him to join him in the lead.
- The world no.1 scored another hat-trick to increase his win streak to ten games.
- He drew the last two games against Anish Giri (NED) and Arjun Erigaisi to become a clear champion.
- Duda finished third scoring 19.5/36.
- R Praggnanandhaa scored a crucial victory against Wei in the penultimate round.
- He scored 19/36 to finish fourth.
- Arjun fifth 18/36.
Chess: P Shyaamnilkhil becomes India’s 85th Grandmaster
- P Shayaamnikhil became India’s 85th Grandmaster by completing his third and final GM norm in the just-concluded Dubai Police Masters chess tournament, ending a 12-year-wait for the player who took to the sport as an eight-year-old.
- Shyaamnikhil needed just one win and eight draws to complete the long-overdue GM title which he achieved in the tournament.
- The 31-year-old conjured the requisite 2500 ELO rating points, the minimum requirement to be a GM, way back in 2012 with two Grandmaster norms but for the third one, he had to wait for 12 years.
UN Proclaims 25th May As World Football Day
- The United Nations General Assembly has proclaimed 25th May as the World Football Day, by adopting a resolution during the 80th plenary meeting of the General Assembly in New York.
- The year 2024 marks the 100th anniversary of the first international football tournament in history with the representation of all regions as part of the 1924 Summer Olympic Games, held in Paris.
- The resolution was passed unanimously by the 193-member General Assembly.
- Taher M. El-Sonni, Permanent Representative of the State of Libya to the United Nations, introduced the draft resolution under Sport for Development and Peace: building a peaceful and better world through sport and the Olympic ideal during the meeting.
- The Assembly later adopted the resolution proclaiming 25 May as World Football Day.
CURRENT AFFAIRS: IMPORTANT DAYS
International Day For Biological Diversity 2024 – May 22
- International Day for Biological Diversity 2024 is celebrated on May 22.
- This year, the theme of the International Day for Biological Diversity is “Be Part of the Plan.”
- This day is observed to raise awareness about Biological Diversity.
- The aim of International Day for Biological Diversity is to promote diversity issues.
- From the second Committee meeting of the United Nations General Assembly, from 1993 to 2000, International Day for Biological Diversity was observed on 29th May.
- On December 20, 2000, the day was first observed on 22nd May.
- Bio means life; Diversity means a range of different things and Biodiversity means Diversity of life.
Daily CA One- Liner: May 22
- Pawan Sindhi received the coveted Global Pride of Sindhi Award 2024 in an occasion attended by renowned saints, Mahatmas, and sadhus
- Dr Soumya Swaminathan, most recently WHO’s Chief Scientist, has been named among the 10 exceptional individuals who will receive honorary degrees from Canada’s prestigious McGill University as part of the Spring 2024 Convocation ceremonies
- Chandrakant Satija, the Founder and CEO of Chandra Admission Consultants, wins the Global Excellence Award 2024 for being the “Most Trusted Admission Consultant in Vidarbha Region
- Henley and Partners, a leader in residence and citizenship planning, recently unveiled a list of the World’s Wealthiest Top 10 cities and Rising Wealth Hubs, highlighting cities that attract high-net-worth individuals (HNWIs) with liquid investable wealth of USD 1 million or more
- The Japanese men’s hockey team made history when it won the Sultan Azlan Shah Trophy for the first time.
- Jorge Martin extended his lead in the championship with a thrilling victory in the French MotoGP at Le Mans
- Magnus Carlsen won ten games in a row to win Grand Chess Tour Superbet Rapid and Blitz 2024
- P Shayaamnikhil became India’s 85th Grandmaster by completing his third and final GM norm in the just-concluded Dubai Police Masters chess tournament, ending a 12-year-wait for the player who took to the sport as an eight-year-old
- The United Nations General Assembly has proclaimed 25th May as the World Football Day, by adopting a resolution during the 80th plenary meeting of the General Assembly in New York
- State-owned Bank of Maharashtra (BoM) recorded the highest growth rate last fiscal in terms of total business and deposit mobilisation among public sector lenders at a time when most banks are facing difficulty in achieving double-digit growth.
- India’s banking sector achieved a milestone as its net profit surpassed Rs 3 lakh crore for the first time in FY24.
- Market regulator Securities and Exchange Board of India (SEBI) has modified the basis for the computation of market capitalisation of listed companies under its Listing Obligations and Disclosure Regulations (LODR) regulations.
- Online insurance marketplace Policybazaar has introduced its ‘Claim Assurance Program’ to accelerate the motor insurance claims process.
- The World Health Organization (WHO) has prequalified the second dengue vaccine developed by Japanese drugmaker Takeda Pharmaceuticals.
- The Ibu volcano on Indonesia’s remote island of Halmahera erupted.
- Marble mined in Gujarat’s Ambaji has been awarded the Geographical Indication (GI) tag by the Central Government.
- Lai Ching-te of Taiwan’s ruling Democratic Progressive Party (DPP) has been sworn in as the self-governing island’s new President.
- Ed Dwight, a 90-year-old artist and former Air Force test pilot who was denied a chance to become the first African American astronaut six decades ago, finally rocketed into space, fulfilling a cherished dream in a brief up-and-down flight out of the lower atmosphere.
- As part of its suite of announcements during its high-profile I/O event, Google announced a brand new personal AI Assistant that could be the successor to the Google Assistant.
- International Day for Biological Diversity 2024 is celebrated on May 22.
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