Daily Current Affairs 22 May 2024

Daily Current Affairs 22 May 2024

1. Iga Swiatek wins third Italian Open Title

• Iga Swiatek, the world number one in women’s tennis, won her third Italian Open title on 18 May 2024.
• She defeated Aryna Sabalenka, the world number two, in straight sets with a score of 6-2, 6-3.
• Adding to her titles from 2021 and 2022, Swiatek improved her career record in Rome to 20-2.

2. Brazil set to host FIFA Women’s World Cup 2027

• Brazil has been confirmed as the host of the 2027 FIFA Women’s World Cup.
• This decision was made at the FIFA Congress in Bangkok, where Brazil received 119 votes, surpassing the joint bid from Belgium, Germany, and the Netherlands.
• This marks the first time that a South American nation will host the tournament.
• The 2027 World Cup will be the tenth edition of the tournament, with 32 nations competing.

3. Nikhat Zareen and Minakshi win Gold at Elorda Cup

• Indian boxers Nikhat Zareen and Minakshi clinched gold medals at the Elorda Cup 2024 in Astana, Kazakhstan.
• Nikhat Zareen triumphed in the women’s 52 kg category, defeating Zhazira Urakbayeva of Kazakhstan with a 5-0 scoreline.
• Minakshi won in the women’s 48 kg category, beating Uzbekistan’s Rahmonova Saidahon 4-1.
• The Indian team concluded their campaign with a total of 12 medals, including two gold, two silver, and eight bronze medals.

4. World’s first 6G device launched in Japan

• A Japanese consortium has unveiled the world’s first high-speed 6G prototype device.
• This groundbreaking device can transmit data at an impressive rate of 100 gigabits per second (Gbps), covering a distance of over 300 feet.
• This represents a remarkable 20-fold improvement compared to the current 5G technology.
• The successful development of this prototype device was made possible through the collaborative efforts of Japan’s leading telecom companies, namely DOCOMO, NTT Corporation, NEC Corporation, and Fujitsu.

5. Pasqal to deploy 1st Quantum Computer in Saudi Arabia by 2025

• Pasqal, a French quantum computing company, has signed an agreement with Aramco, one of the world’s leading integrated energy and chemicals companies, to install the first quantum computer in the Kingdom of Saudi Arabia.
• The agreement, announced on May 20, 2024, will see Pasqal install, maintain, and operate a 200-qubit quantum computer, scheduled for deployment in the second half of 2025.
• Pasqal and Aramco aim to establish a powerhouse for quantum research within Saudi Arabia, involving leading academic institutions to foster breakthroughs in quantum algorithm development.
• This agreement accelerates Pasqal’s activity in Saudi Arabia, having established an office in the Kingdom in 2023.

6. Bank of Maharashtra leads PSU banks in FY24 Business Growth

• The Bank of Maharashtra (BoM), a state-owned lender, has led the pack among public sector banks (PSBs) in terms of business growth in FY24.
• The bank registered a 15.94% rise in total domestic business, surpassing the State Bank of India (SBI) which had a growth of 13.12%.
• BoM also topped in deposit mobilisation with a 15.66% increase, followed by SBI, Bank of India, and Canara Bank.
• In terms of low-cost CASA deposits, BoM led with a 52.73% growth, crucial for reducing fund costs. Regarding loan growth, BoM was second with a 16.30% increase, just behind UCO Bank.

7. Indo-Russian ventures deliver 27,000 AK-203 to Indian Army

• The Indo-Russian joint venture, established at Korwa in Uttar Pradesh, has delivered 27,000 AK-203 assault rifles to the Indian Army.
• This venture involves technology transfer from Russia for manufacturing AK-203 rifles. The delivery of another 8,000 rifles is scheduled in the next two weeks.
• Under a contract signed in July 2021, over 6.1 lakh AK-203 assault rifles are to be manufactured in India.

8. John Slaven appointed Vice-Chairman of Aluminium Institute

• John Slaven, CEO of Vedanta Aluminium, has been appointed as the Vice-Chairman of the International Aluminium Institute (IAI).
• In his new role, Slaven will spearhead global initiatives aimed at highlighting the crucial role of aluminium in facilitating the transition to zero carbon energy.
• The IAI is an organization that represents the primary aluminum industry globally.
• Slaven brings over thirty years of experience in the metals, mining, and modern manufacturing sectors.

9. Fuji Electric India earns Great Place to Work Certification

• Fuji Electric India, a leading supplier of Energy and Automation solutions, has been certified as a Great Place To Work for the fiscal year 2024.
• This certification is based on feedback from employees about their experience working with Fuji Electric India.
• The company’s dedication to creating a supportive and dynamic workplace culture that brings an inclusive work environment, where all employees are respected, valued, and empowered to be their best, has been highlighted.

10. European Union gives final nod to the first worldwide rules on AI

• The European Union (EU) has given the final approval to the world’s first comprehensive rules on Artificial Intelligence (AI), known as the Artificial Intelligence Act.
• This groundbreaking legislation follows a ‘risk-based’ approach, meaning the higher the risk an AI system poses to society, the stricter the rules.
• The Act categorizes different types of AI according to risk, with high-risk AI systems subject to stringent requirements and obligations.
• Certain AI practices, such as cognitive behavioural manipulation and social scoring, are banned due to their unacceptable risk.

About European Union (EU)

The European Union (EU) is a political and economic union of 27 member countries located primarily in Europe. It was established to promote economic cooperation and political integration, with the aim of fostering stability, peace, and prosperity across the continent.

Founding and Evolution

Origins:

• The EU traces its origins to the aftermath of World War II, aiming to prevent further conflicts in Europe. The foundational steps were the creation of the European Coal and Steel Community (ECSC) in 1951 and the European Economic Community (EEC) in 1957, established by the Treaty of Rome.

Maastricht Treaty:

• The modern EU was formally established by the Maastricht Treaty in 1993, which expanded the union’s scope beyond economic cooperation to include a political and social dimension, creating a framework for a single currency and common foreign and security policies.

Expansion:

The EU has grown from its original six members (Belgium, France, Germany, Italy, Luxembourg, and the Netherlands) to 27 countries, with Croatia being the latest to join in 2013.