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Current Affairs

Global CEO

  • Sundar Pichai, CEO of Google, was appointed CEO of parent company Alphabet.
  • Satya Nadella: Microsoft (world’s 2nd most valuable company)
  • Sundar Pichai: Alphabet (world’s 3rd most valuable company)
  • Pichai’s new role will also be a testing one, with Google’s many commercial and data practices under scrutiny in multiple geographies and with recent controversies over proposed entry to China yet to die down.

  • Former PM AbdelmadjidTebboune Elected As The President Of Algeria
  • Tebboune – who also served as housing minister under Abdelaziz Bouteflika – the former president forced to step down in April following mass protests.

  • Algeria Capital: Algiers
  • Algeria Prime Minister: NoureddineBedouia.
  • Algeria Currency: Dinar.
  • China Digital Currency
  • China plans to launch its own digital currency.

Aim: to stay ahead of the global competition

  • China’s central bank – the People’s Bank of China (PBC) – has stepped up efforts to roll out its Digital Currency Electronic Payment (DCEP).
  • By launching a digital currency earlier than other countries, the PBC will be able to set rules related to currency’s cross-border clearing and payment system.
  • In 2020, digital currency competition will heat up not only among central banks and governments but also multi-nationals like Facebook and large cross-border financial institutions.

China

  • Currency: Renminbi
  • Vice President: Wang Qishan
  • Party General Secretary and President: Xi Jinping

Trump Approves US-China Trade Deal To Halt Dec 15 Tariffs

  • President Donald Trump signed off on a phase-one trade deal with China.
  • Introduction of a new wave of US tariffs on about $160 billion of consumer goods from the Asian nation.
  • The deal presented to Trump by trade advisers included a promise by the Chinese to buy more US agricultural goods.