Current Affairs in Short: 7 June 2019

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.