14 June 2016 – Daily Current Affairs

Justice RR Prasad selected as Manipur HC Chief Justice

On 13^th June 2016, Justice Rakesh R. Prasad was elected as Manipur HC (High Court) Chief Justice. He is Manipur’s senior-most judge. He will be succeeding Justice Laxmi K. Mohaparta. Mohapatra left his position on 9^th June 2016. Before this, Justice Prasad served temporarily at the Jharkhand HC on the orders of the President. Justice Prasad was born in the year 1955 and grew up in Bihar. He started off as BSBC (Bihar State Bar Council) Advocate and practiced in criminal and Civil areas.

LinkedIn acquired by Microsoft for 26.2 billion dollars

On 13^th June 2016, LinkedIn Corporation and Microsoft Corporation announced their definitive agreement status. Microsoft will be acquiring LinkedIn Corporation for 196 dollars/share. This transaction will be an all-cash which will include the net cash of LinkedIn. However, the distinct culture, independence and brand of LinkedIn will be retained. Microsoft is an international MNC with its headquarters in Washington. Microsoft is involved in developing, manufacturing, licensing, supporting and selling personal computers, consumer electronics, computer software and related services. LinkedIn is an online business-oriented service in the social networking platform.

Norway becomes the first nation to ban deforestation

Recently, Norway announced that it became the nation on the world to ban deforestation completely. On 26^th May 2016, the Parliament of Norway pledged that it will make the public-procurement policy of the government deforestation free. This decision was made after a MP committee suggested putting regulations for ensuring state’s complete withdrawal in any rainforest deforestation policy. The lawmakers of Norway also pledged to find alternatives sources for significant products like soy, beef, timber and palm oil so that the impact on the nation’s ecosystem is little. This pledge was taken by Norway, United Kingdom and Germany at the United Nations 2014 Climate Summit.

USA grabs FINA Women WPWL (Water Polo World League) Super Final

On 12^th June 2016, the Senior National Women’s Team of USA grabbed the FINA Women WPWL (Water Polo World League) Super Final trophy. USA defeated Spain by 13-7 during the final match that took place in Shanghai (China). This is USA’s third straight victory at the FINA and tenth overall. The third position was won by Australia by defeating China 11-3. FINA is an international Water Polo League and the event is organized annually. First continental tournaments are being played from which finalists for the Super Final League emerge. FINA was established in 1908.

Tata Power signs agreement for acquiring Welspun Renewables

On 12^th June 2016, Tata Power acquired WREPL (Welspun Renewables Energy Pvt. Ltd), a renewable energy service company. The objective behind this acquisition was broadening the clean energy portfolio of Tata Power to 2.3 GW (Gigawatts). The renewable energy division of Tata Power, TPREL (Tata Power Renewable Energy Ltd) signed the agreement. It will be the biggest transaction in India across the renewables space. The value of the acquisition is estimated around Rupees 9249 crore. This will include wind power and 1140 Megawatts (MW) solar power assets of WEPL. It is expected that the deal will close by September 2016.