सामयिक विषय: Associations & Organizations

Qatar Airways acquires 49% stake in Italy’s Meridiana

Acquisition of Meridiana by Qatar Airways

Question: Qatar Airways acquired 49 percent stake in Meridiana Airlines. ‘Meridiana’ is the airline of which country?
(a) Italy
(b) France
(c) Malaysia
(d) Iran
Answer: (a)
Related Facts:

  • Qatar Airways acquired 49 percent stake in Italy’s second largest airline ‘Meridiana’.
  • Qatar Airways is the largest loader in the Middle East region.
  • Prior to the acquisition, the ownership of ‘Meridiana’ was owned by Alisrada in Italy.
  • After 49% of the acquisition, 51% stake has remained with ‘Alisarada’.
  • n the year 1960, Meridiana Airlines was founded by businessman and Muslim spiritual leader Aga Khan.
    Qatar Airways has a strong position in the Italian air service.
  • It offers more than 40 flights a week to Doha Airbase.
  • Italy’s largest carrier ‘Alitalia’, partly owned by Qatar Airways’s regional competitor, Etihad Airways.
  • ‘Etihad Airways’ is an aerial service provider based in Abu Dhabi.

Reference:
https://www.qatarairways.com/en/press-releases/2017/sep/completion-of-the-meridiana-agreement-by-qatar-airways-and-alisa.html?activeTag=Press-releases
http://abcnews.go.com/International/wireStory/qatar-airways-acquires-49-percent-stake-italys-meridiana-50208057
http://www.thehindubusinessline.com/economy/logistics/qatar-airways-acquires-49-stake-in-italys-meridiana/article9883367.ece

Reference:

Cabinet approves Closure of loss making Bharat Wagon and Engineering Company

Bharat Wagon and Engineering Company

Question: In which year Bharat Wagon and Engineering Company Limited was incorporated?
(a) Year 1973
(b) Year 1975
(c) Year 1978
(d) Year 1980
Answer: (c)
Related Facts:

  • On August 23rd, 2017, the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal of Ministry of Railways to close the Bharat Wagon and Engineering Company Limited (BWEL).
  • Bharat Wagon and Engineering Company Limited (BWEL) is a Central Public Sector Enterprise (CPSE) under Ministry of Railways.
  • Bharat Wagon and Engineering Co. Ltd. is being wound up in view of the continues poor physical and financial performance of the company for more than 10 years, in spite of financial assistance and other support provided by Ministry of Railways combined with low probability of its revival in future.
  • With this approval 626 employees of BWEL will be benefitted from the voluntary retirement scheme to be offered at 2007 pay scale.
  • The Government will have to provide one time grant off 151.18 crore towards severance package and for clearing the current liabilities of the company.
  • It is noteworthy that BWEL was incorporated on December 4th, 1978 as a CPSE, engaged in the manufacture and repair of wagons.
  • It has two manufacturing units, at Mokama and Muzaffarpur in Bihar.

Reference:
http://pib.nic.in/newsite/PrintHindiRelease.aspx?relid=66723
http://pib.nic.in/newsite/PrintRelease.aspx?relid=170171

Infosys completes Brilliant Basics acquisition

Acquisition of Brilliants Basics

Question: Which of the following companies recently completed the acquisition of Brilliants basics?
(a)Wipro Limited
(b)Infosys Ltd.
(c)TCS
(d)Tech Mahindra Ltd.
Answer: (b) 
Related Facts:

  • On September 11th, 2017, Infosys Ltd. a global leader in consulting, technology and nextgeneration services completed the acquisition of Brilliants basics.
  • Acquisition is in accordance with the terms set out in the agreement announced by the company on August 3, 2017.
  • This acquisition includes the amount based on future benefits and retention of employees.
  • Infosys has completed this acquisition cash in 75 million British pounds.
  • This acquisition will help Infosys to expand its digital studio business globally.
  • This business is focused on fulfilling the needs of the global clients and to find the right problem, and to solve these effectively.
  • Infosys Digital Studios are located in Bangalore, Pune, New York, London and Melbourne.
  • Brilliant Basics established in 2012, is a global design and product studio that creates products that make life simply better.
  • The 100 percent stakeholder of this company was controlled management.
  • It had studios in London and Dubai.

Reference:                                                                               
https://www.infosys.com/newsroom/press-releases/Pages/completed-acquisition-brilliant-basics.aspx
https://www.brilliantbasics.com/wp-content/uploads/2017/08/170803_Press_Release.pdf
https://medium.com/@brilliantbasics/bb-and-infosys-c5fe8073e835
https://medium.com/@brilliantbasics/bb-and-infosys-c5fe8073e835
http://www.thehindu.com/business/Industry/infosys-completes-acquisition-of-brilliant-basics/article19664754.ece

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