Current Affairs in Short: 7 June 2019
It’s an end of an era at Wipro with the retirement of its founder Azim Premji. India’s second richest business tycoon Azim Premji is set to retire in July 2019 as the Executive Chairman and Managing Director of Wipro.
Azim Premji to retire from Wipro, son Rishad to take over
• It’s an end of an era at Wipro with the retirement of its founder Azim Premji.
• India’s second richest business tycoon Azim Premji is set to retire in July 2019 as the Executive Chairman and Managing Director of India’s fourth-largest IT Company, Wipro.
• Premji is one of the three pioneers of Indian IT industry, the other two being Infosys’s N R Narayana Murthy and TCS’s F C Kohli.
• Premji will be succeeded by his elder son, Rishad Premji, a Harvard Business School and London School of Economics graduate, who joined the firm in 2007.
• The Premji family owns 74.3 percent of the shares in the company.
Culture Minister to inaugurate exhibition-‘Unknown masterpieces of Himachal Folk Art’
• Union Culture Minister Prahalad Singh Patel inaugurated the ‘Unknown Masterpieces of Himachal Folk Art’ exhibition at National Museum in New Delhi.
• The Exhibition is jointly organised by the National Museum and Home of Folk Art of Gurugram.
• Over 240 artefacts will be on display in the exhibition.
• The exhibition aims to highlight the Folk art tradition of Himachal Pradesh.
• It will be open for public till 31 July.
Prayuth Chan-ocha elected as Prime Minister of Thailand
• Thailand Parliament elected Prayuth Chan-ocha as the Prime Minister of the country.
• 2014 coup leader, Prayuth won against his opponent, Future Forward party leader Thanathorn Juangroongruangkit by a vote of 500 to 244.
• This will be the second term of Prayuth. Prayuth is the candidate of the military-backed Palang Pracharath party.
• Prayuth did not run for office in the 2019 General Elections.
New Zealand to host India in all 3 formats of Cricket in 2020
• India will tour New Zealand in 2020 to play in all three formats - T20 Internationals, One-Day Internationals and Test matches, beginning January 24, 2020.
• India and New Zealand will compete in 5 T20 Internationals, 3 One-Day Internationals, and 2 Test matches.
• There will be World Test Championship clash between the teams.
• Ahead of this Team India tour, the Kane Williamson-led New Zealand team will play against England in five T20Is and two Test matches from November 1 to December 3, 2019.
CCI approves acquisition of electrical business of Larsen & Toubro by Schneider Electric India
• The Competition Commission of India approved the acquisition of electrical and automation business of Larsen & Toubro Limited by Schneider Electric India Private Limited and MacRitchie Investments Pte Ltd.
• The approval will be effective after certain modifications aimed at eliminating the anti-competitive effects of the proposed acquisition.
• Schneider and L&T are the first and second leading players in terms of sales and distribution reach in the low voltage (LV) switchgear industry in India. Their union will attach a large part of the LV switchgear distributors with the combined entity.
• The acquisition would reduce competition and will give the power to the combined entity to increase price as per the competition.