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CURRENT AFFAIRS FOR 10 MAY 2016
May 10, 2016
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DIRECT BENEFIT SCHEME LAUNCHED

Akshaya Tritiya festival was celebrated in Odisha on Monday with farmers starting a new crop season by sowing rice seeds as political parties joined the celebrations to woo farmers who had been hit bydrought in the recent past.

As farmers in all parts of the State started the day with the sowing ritual in their fields, Chief Minister Naveen Patnaik launched the Direct Benefit Transfer scheme for them. The first beneficiary of the scheme was Ramesh Rout, a farmer from Laxminarayanpur, and the subsidy money for seeds was deposited in his bank account.

GORAKHPUR SCIENTIST BAGS SGD 3MN GRANT FROM SINGAPORE’S NRF

Dr. Manvendra K Singh, an Indian scientist from Uttar Pradesh’s Gorakhpur city, has been awarded a grant of SGD 3mn (about Rs. 14.7 crore) by the National Research Foundation, Singapore, to research in congenital and adult cardiovascular diseases.

The NRF, a department within the Prime Minister’s Office, Singapore, is responsible for developing strategies, policies and plans for research, innovation and enterprise. Dr. Singh, who works as an assistant professor in the cardiovascular and metabolic disorders programme at Duke-NUS Medical School, Singapore, said he is among the seven young scientists from across the world to be endowed with the Singapore NRF fellowship to carry out cutting-edge research this year.

KIM CROWNED AS PARTY LEADER AT N KOREAN CONGRESS

North Korean strongman Kim Jong-Un cemented control over his ruling Workers’ Party on Monday with a new role seen as a coronation for the young leader.
Thousands of delegates, many in uniform, clapped and cheered enthusiastically as the country’s official head of state, Kim Yong-Nam, proclaimed him chairman at the first top-level meeting of the party for 36 years.

For the first time since they arrived last week, foreign journalists were allowed a rare glimpse inside the delegate hall, which was festooned in red and gold banners carrying the party’s logo.
The congress, which opened on Friday, has given 33-year-old Kim a podium to secure his status as supreme leader and legitimate inheritor of the one-party state founded by his grandfather.
“Kim’s new position makes it very clear that the whole party meeting is only aimed at solidifying his legitimacy as the new leader,” Koh Young-Hwan, a former North Korean diplomat who defected to the South in 1991, told AFP in Seoul

GMR INFRA SELLS STAKE IN ENERGY UNIT TO MALAYSIA’S TENAGA FOR $300 MILLION

Malaysia’s largest power utility firm Tenaga Nasional Berhad (TNB) has picked up 30 per cent equity stake in GMR Energy’s select portfolio of assets for cash consideration of $300 million, valuing these assets at $1 billion.

The funds invested would be primarily utilised for repayment of corporate debt. It would lead to a reduction in GMR Infrastructure Ltd’s (GIL) consolidated corporate debt and result in a stronger balance sheet, according to a statement from GIL. It said induction of a strategic partner will provide renewed impetus to energy business and create strong growth platform