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Important Current Affairs of 26th April

NATIONAL:

Uber lowers valuation as rival Lyft shares fall after IPO: Reports.

• Uber is aiming for a valuation of $80-90 billion in its Initial Public Offering (IPO), less than its previous expectations of $90-100 billion, Bloomberg reported. This reportedly comes as Uber's US rival Lyft witnessed a "disappointing debut" and substantial fall in shares, the Wall Street Journal reported. Lyft was valued at $24.3 billion in first ride-hailing IPO in March.

India’s crude oil production falls for seventh straight year.

• India's domestic crude oil production plunged over 4% in 2018-19, registering its seventh consecutive yearly fall. India produced 34.2 million tonnes of crude oil in FY19, down from 35.7 million tonnes in the previous year, according to data released by the government. Fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India missed production targets.

Hero MotoCorp Q4 net dips over 24% to ₹730 crore.

• The company sold 78,20,745 units in 2018-19 as compared with 75,87,154 units in 2017-18

• The company's board recommended a final dividend of ₹32 per equity share of ₹2 each (1,600%) for 2018-19

INTERNATIONAL:

Amazon posts $1 billion profit for each of first 3 months of 2019.

• World's richest person Jeff Bezos-led Amazon made profits of over $1 billion a month for the first three months with profits totalling $3.6 billion, the company announced. First quarter sales reached $59.7 billion, while profits were more than double compared to last year. Amazon cloud, which hosts data for Netflix, Airbnb, among others, continued growth with a 41% sales increase.

Naspers to exit MakeMyTrip as China’s Ctrip deepens its shareholding.

• Following this, Ctrip’s stake in MakeMyTrip will be approximately 49% along with 4% of total voting rights

• Ctrip and Naspers invested $330 million into MakeMyTrip around two years ago

AGREEMENTS AND MOUS:

India may extend deadline for imposing retaliatory tariff on 29 US items by 14 days.

• The commerce ministry is expected to recommend to the revenue department, under the finance ministry, to extend the deadline for imposing higher tariffs

• If accepted by the finance ministry, the revenue department would issue a notification to that effect

India, China step on the gas on oil sourcing plan.

• The two are in talks to form a consumers’ collective for joint sourcing of oil

• The coming together of China and India may change global energy equations

BANKS AND ECONOMICS:

Yes Bank reports its first ever quarterly loss of ₹1507 crore.

• Provisions during the quarter increased more than 9 folds to ₹3661.7 crore as against ₹399.64 crore in the year-ago quarter.

• The bank posted a net loss of ₹1506.64 crore for the three months ended 31 March compared to a profit of ₹1179.44 crore in the year-ago period

Finance ministry approves EPF interest rate hike.

• The finance ministry has ratified the hike of the Employees Provident Fund (EPF) interest rate to 8.65% as approved by retirement fundmanager EPFO. ... This was a 10 basis point increase from the 8.55% EPF interest rate announced by the retirement fund for 2017-18.

APPOINTMENTS AND RESIGNATIONS:

Sri Lanka police chief resigns over serial bomb blasts.

• Sri Lanka's Inspector General of Police Pujith Jayasundara has resigned over failures that led to the serial bomb blasts that killed around 250, the country's President Maithripala Sirisena said on Friday. "He has sent his resignation to the acting defence secretary. I'll nominate a new IGP soon," Sirisena added. Earlier, Sri Lanka's defence secretary Hemasiri Fernando resigned over the blasts.

DAYS:

World Intellectual Property Day – April 26, 2019,Reach for 

• Every April 26, we celebrate World Intellectual Property Day to learn about the role that intellectual property (IP) rights play in encouraging innovation and creativity.

• Faster, stronger, higher! The drive to test our abilities, the thrill of competition, and the awe we experience in watching ordinary people achieving extraordinary feats, have fueled our fascination with sports for thousands of years.

SPORTS:

Panghal wins India's 1st gold at Asian Boxing C'ships.

• Amit Panghal claimed India's first gold medal at the ongoing Asian Boxing Championships on Friday after defeating South Korea's Kim Inkyu in a unanimous decision in the 52kg category. Deepak Singh and Kavinder Singh Bisht had to settle for silver medals after losing their finals in the 49kg and 56kg categories respectively.

Wrestlers Divya Kakran, Manju win bronze at Asian C'ships.

• Indian wrestlers Divya Kakran and Manju Kumari won bronze medals at Asian Wrestling Championships on Thursday. The 21-year-old Divya defeated Mongolian wrestler Battsetseg Soronzonbold in 68-kg category while Manju secured bronze by beating Vietnam’s Thi Huong Dao in 59-kg category. Bajrang Punia on Tuesday won India's maiden gold medal at the tournament.

17-yr-old wins WC silver, secures Olympic quota for India.

• Seventeen-year-old Divyansh Singh Panwar secured an Olympic quota after he added to India's medal tally by finishing second in the men's 10m air rifle event at the ongoing ISSF World Cup in Beijing, China. The 17-year-old shooter had earlier won India a gold medal in the mixed team event along with Anjum Moudgil.

OBITURIES:

Lt Commander dies while fighting fire on board INS Vikramaditya.

• Lieutenant Commander DS Chauhan died after leading the firefighting efforts on board INS Vikramaditya near Karwar, Karnataka. The aircraft carrier caught fire while entering the harbour this morning, however, it was brought under control without affecting the ship's combat capability. The officer suffered loss of consciousness and was taken to the Naval hospital at Karwar but couldn't be revived.

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