Current Affairs – July 2015

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Real Madrid FC wins 2016 UEFA Champions League

Real Madrid FC won the 2016 UEFA Champions League for the record 11th time by defeating Atletico Madrid FC by 5-3 goals in penalty shootout.

In the final played, both teams scored 1–1 goals in regulation period leading to draw.  For the Real Madrid goal was scored by captain Sergio Ramos (15 minutes) and for Atletico Madrid was scored by Yannick Carrasco (79th minutes). In tie-breaker penalty shootout Real Madrid FC scored 5 goals against Atletico Madrid which scored only 3 goals.

Earlier Real Madrid FC had won UEFA Champions League in 1956, 1957, 1958, 1959, 1960, 1966, 1998, 2000, 2002 and 2014.

About UEFA Champions League

  • UEFA Champions League (simply known as the Champions League) is an annual continental club football competition organised by the UEFA.
  • It is contested by top-division European club and is considered as one of the most prestigious tournaments in the world.
  • It is also most prestigious club competition in European football, played by the national league champion and for some nations of each UEFA national association.

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Russia’s Rosneft to acquire 49% stake in Essar Oil

The Russia’s state owned Oil Company Rosneft signed strategic agreement with Shashi Ruia’s Essar Oil to acquire its 49 per cent. The two companies have also agreed exploration and production of hydrocarbon in concurrence.

As per the agreement Rosneft will get a stake in 1,600 retail chain stations of Essar Oil and has planned to increase it to 5,000 within the next two years. It has also agreed to deliver 100 million tonnes of crude oil over next ten years to Essar Oil.

About Rosneft:

Rosneft is a state owned Russian oil company. It is the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company.

It is engaged in series of activities from hydrocarbon exploration and production, refining to marketing of crude oil and gas.

About Essar Oil:

Essar Oil owns India’s second largest single site refinery having a capacity of 20 million tonne per annum and stands amongst the highest globally. It is a fully incorporated oil & gas company of international scale having strong footprints across the hydrocarbon value chain from exploration & production to refining and oil retailing. It owns 1,600 retail outlets in India and holds over 1.7 billion barrels of oil. Its refining capacity is projected to increase to 45 million tonne per annum by 2020.

Note: Essar Oil has decided to de-list itself from the Indian stock markets.

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Tata Motors bags 914-cr order from Indian Army

Tata Motors has bagged the single-largest order of high mobility vehicle (LMV) worth Rs. 914 crore from the Indian Army. Tata Motor is going to supply over 1,239 high mobility vehicles in next two year.

Along with Tata Motors, Mahindra and Mahindra have also been short listed to supply over 3,192 vehicles to the Army.

Details of the Deal:

  • Tata Motor will supply indigenously developed 6×6 multi-axle trucks that are mainly functional for loading and unloading ammunition.
  • Army will replace Mahindra Commander and Maruti Suzuki’s Gypsy with Tata Motor’s Safari Strom and Mahindra’s Scorpio; these were shot listed after rigorous tests.
  • Army is planning to replace over 30,000 to 40,000 vehicles and going open its defence orders to private sector. Tata Motors is expected to be the huge gainer among others in defence orders.
  • Tata Motors is also short listed by the Government for making Future Infantry Combat Vehicle (ICV) under “Make in India” initiative.
  • Government has agreed to fund Tata Motors up to 80 per cent on the research and development programme under this initiative.
  • Government has also planned to replace about 1,400 Russian Boyevaya Mashina Pekhoty (BMP), a infantry fighting vehicle with 2,600 future indigenous infantry combat vehicles at a cost of over $10 billion.

Tata Motor and Defence Vehicles:

  • Tata Motors along with its group companies Tata Technologies, Tata Power and TCS has developed Light Combat Vehicles (LCV) with latest technologies to ensure high mobility, protection and fire power to troops during military operations.
  • The company has developed Mine Protected Vehicle (MPV), which are functional in Naxal-infested areas.
  • It has designed and developed Wheeled Armored Platform (WAP), which is an armoured personnel carrier specifically, designed for all terrain performance and increased lethality.
  • Equipped with modern surveillance and communication equipment, its Light Armoured Multi-role Vehicle (LAMV) provides vital operational mobility, with protection and firepower that aims to achieve superiority on the battlefield.

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