Business and Finance Updates


Microsoft Becomes Most Valuable US Company

Microsoft has outdone Apple as the most valuable US company with a market value of about USD 812 billion. Apple became the first US company with a USD 1 trillion valuation in August 2018.

T.S. Vijayan Appointed Independent Director of Yes Bank

The former Life Insurance Corporation (LIC) chairman,T.S Vijayan has been appointed as an independent director on the board of Yes Bank, a private sector bank with immediate effect.

Tanzania gets Loan of USD 500 million

Export-Import Bank of India (Exim Bank) extended a credit facility of USD 500 million to Tanzania. An agreement was signed in May 2018, with the Tanzania government for making available a Government of India-supported line of credit for the purpose of financing water supply schemes.

850 crore for Revamping DD and AIR

The Finance Ministry has approved an Rs. 850 crore investment for the up gradation of Doordarshan (DD) and All India Radio (AIR). The money sanctioned to both entities will be across financial years 2018-19 and 2019-20.

World Bank Climate Action Investment

The World Bank has doubled its current five year funding to USD 200 billion in climate action investment for 2021-25. This was revealed on December 3, 2018. The move coincides with a UN climate summit meeting of some 200 nations in Katowice, Poland.

Qatar to Leave Organisation of the Petroleum Exporting Countries

Qatar has been a member of OPEC since 1961, but has now decided to leave it in January 2019, to focus on gas production. Qatar is the world's biggest supplier of Liquefied Natural Gas (LNG), producing almost 30 percent of the world total.

First IndiGo Flight to Singapore from Vijayawada

The first IndiGo Airlines flight to Singapore from the Vijayawada international airport, Vijayawada was flagged off by Vice-President M. Venkaiah Naidu on December 4, 2018.