The First Forum is an initiative that focuses on covering the latest happenings in a brief format. This is in lieu of the importance of knowledge about current happenings in this fast-changing world.
In the Eighty Second- Edition of The First Forum we would be covering the following topics:
1. Politics
2. Science and Technology
3. Business
4. Economics
5. Finance
(By Ashika Deb, Shitij Goyal and Gunika Vij)
Politics
Russia’s increasing poverty causes political discontent
The pandemic has delivered a new blow to Russia’s stagnating economy, which was already chafing under Western sanctions, low oil prices and weak corporate investment. The rising poverty, falling incomes and lack of tangible government support are fuelling discontent with the President’s rule and strengthening the opposition and answering the jailed Kremlin critic Navalny’s call thousands of people have protested. Read More
‘Political cowardice’: Trump’s impeachment acquittal
Democratic Party legislators in the US have reacted with indignation to the results of former President Donald Trump’s second impeachment trial, after the US Senate found Trump not guilty of “inciting” a deadly riot on Capitol Hill last month. Read More
Andhra political parties up in arms against Vizag steel privatisation plan
Political parties in Andhra Pradesh are against the Centre’s proposed privatisation of Rashtriya Ispat Nigam Limited (RINL), with the opposition Telugu Desam Party (TDP) and Left parties launching an agitation against it. The secretary of the department of investment and public asset management, last week announced that the Cabinet Committee of Economic Affairs had cleared the privatisation of RINL, which employs 34,000-odd people. Read More
US Revoked Yemen’s Houthis As Terrorists
The UN welcomed USA’s decision to revoke the designation of Yemen’s Houthi rebels as a terrorist group. The Biden Administration on February 12 reversed former Presdient’s actions that humanitarian groups feared that it would impede aid deliveries to the conflict-torn country facing the world’s worst crisis. Read More
Science and Technology
Pfizer’s vaccine appears to reduce coronavirus transmission
People vaccinated with Pfizer’s shots and who still get infected with the coronavirus carry less virus in their bodies than unvaccinated people who are infected, researchers from Israel report in two separate preliminary studies posted February 8 at medRxiv.org.
Google Strikes Deal With Australian News Outlet Amid Content Payment Row
Australia’s Seven West Media became the country’s first major news outlet to strike a licensing deal with Google, as the government pushes ahead with a law that would force the Internet giant to pay media companies for content. Read More
Alphabet, Microsoft, and Qualcomm Complain Against Nvidia Arm Acquisition; US FTC Opens Probe: Report
The US. Federal Trade Commission has opened an in-depth probe into Nvidia’s agreement to acquire Arm, Bloomberg reported. The FTC has sent information demands to third parties. The FTC and Nvidia did not respond to requests for comment outside regular working hours. Read More
Bumble CEO Whitney Wolfe Herd Becomes a Rare Female Billionaire Following IPO
A company catering to women and led by women has made its 31-year-old female founder a billionaire. Shares of Bumble, the owner of the dating app where women make the first move, soared 67 percent in its trading debut to $72 (roughly Rs. 5,250) in New York (11:33pm IST), valuing Chief Executive Officer Whitney Wolfe Herd’s stake at $1.5 billion (roughly Rs.10,920 crores).Read More
Making masks fit better can reduce coronavirus exposure by 96 percent
Taking steps to improve the way medical masks fit can protect wearers from about 96 percent of the aerosol particles thought to spread the coronavirus, a study by the U.S. Centers for Disease Control and Prevention found.Read More


Business
FM underlines role of pvt sector; says bending Covid curve, Budget will help sustain revival
Pursuing with the process of consensus building on politically difficult reforms such as privatisation, Finance Minister Nirmala Sitharaman Friday said the BJP government has laid out well-thought-out reforms to support Indian entrepreneurs, wealth creators and MSMEs while respecting honest taxpayers and citizens. Read More
ONGC to form new subsidiary to focus on gas and LNG business
State-run energy major ONGC will create a wholly-owned subsidiary to focus on its company’s gas and LNG business. Its Board of Directors has given its nod for the creation of the subsidiary company subject to necessary approvals. Read More
Cipla plans to double share from consumer health business in 5 years
Cipla, the country’s third-largest pharma major, aims to more than double the contribution from consumer health business to its overall global turnover in five years.Read More
Tata Motors appoints Daimler veteran, Marc Llistosella as its India business chief
Tata Motors Ltd, India’s largest vehicle maker, named Marc Llistosella as the managing director and chief executive officer (MD and CEO) of its India business which comprises the commercial and passenger vehicle businesses. Read More
Adar Poonawalla to acquire 60% in Magma Fincorp for Rs 3,456-crore
Adar Poonawalla-controlled Rising Sun Holdings will acquire a 60 per cent stake in non-banking financial company (NBFC) Magma Fincorp by subscribing to a Rs 3,456-crore preferential issue. After the infusion of capital, Magma and its subsidiaries will be renamed and rebranded Poonawalla Finance. Read More
Economics
Indian economic documents exude a growth anxiety
The Budget for 2021-22 has projected nominal GDP growth of 14.4% over the first advance estimates for 2020-21. Assuming that consumer inflation during 2021-22 will stick to the 4% target, then the real GDP growth is 5.5%. Anxiety over tepid growth may have also influenced the government’s policy on revenue sharing with states.Read More
Japan Extends Economic Recovery
Japan’s economy expanded more than expected in the fourth quarter, extending the recovery from its worst post-war recession owing to a rebound in overseas demand that boosted exports and capital spending but the recovery slowed from the third quarter’s brisk pace and new state of emergency curbs cloud the outlook.Read More
Britain economy suffers biggest slump in 300 years
The UK economy grew at double the pace expected in fourth quarter. GDP rose 1% from the third quarter fuelled by boom in construction and government spending which averted the risk of a second recession but left a 9.9% contraction for the whole of 2020, the biggest in 300 years. Read More
Singapore’s 2021 budget set to be unusual.
Singapore will likely incur a rare budget deficit this year as the government continues to support its economic recovery from the Covid pandemic which will be unusual as the government typically starts the first year of its new term with a sizeable budget surplus. Read More
Finance
Capital infusion into insurance companies
The Finance Ministry will infuse Rs 3,000 crore capital into state-owned general insurance companies during the current quarter in a bid to improve their financial health. Last year, the Union Cabinet headed by Prime Minister Narendra Modi cleared proposal to provide capital support to National Insurance, Oriental Insurance and United India Insurance. Read More
Government to allow FPIs to debt finance
The finance ministry on Thursday said the Finance Bill has proposed amendments to permit foreign portfolio investors (FPIs) an entry into debt financing of emerging investment vehicles – REITs and InvITs. The move is aimed at increasing funds for the infrastructure and real estate sectors. Finance minister Nirmala Sitharaman announced this move during Budget 2021. Read More
More Agri infra schemes on the cards
Finance secretary Ajay Bhushan Pandey has indicated that more schemes for agriculture development and infrastructure may be rolled out in FY22 as the government expects to generate Rs 30,000-35,000 crore from the agriculture infrastructure and development cess introduced in the Budget. Read More
Highest Ever spending in MNREGA in FY21
Finance minister Nirmala Sitharman on Friday said Prime Minister Narendra Modi-led NDA government has removed all ills from the rural-employment guarantee scheme MNREGA and spent highest ever about Rs 90,500 crore so far this fiscal. Show More
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