- Japan won the Thomas Cup 2014 of badminton on 25 May 2014 in New Delhi. This was Japan’s first maiden Thomas Cup. Also, with this win, Japan became the fourth nation to win the Thomas Cup after Indonesia, China and Malaysia.
- Indian Rupee (INR) appreciated to 11-month high to become the best performing currency in Asia-Pacific region against US dollar in 2014.The Rupee on 23 May 2014 closed at 11-month high of 58.52 against the US dollar.
- Singapore became the top source of foreign direct investment (FDI) into India. Singapore replaced Mauritius to become the number one source of FDI. This was revealed by the FDI data for March 2014 of the Department of Industrial Policy and Promotion (DIPP) under the Union Ministry of Commerce Industry and Textiles. As per the data, India attracted 5.98 billion US dollar FDI from Singapore in 2013-14 while Mauritius invested only 4.85 billion US dollar in India in 2013-14. The total FDI flows from Singapore accounted for about 25 per cent of FDI inflows in 2013-14.
- Japan won the AFC Women’s Asian Football Cup 2014 on 25 May 2014. In the final held in Vietnam, Japan football team defeated defending champion Australia 1-0. This is Japan’s first-ever AFC Women’s Asian Cup since it started competing in the event in 1977.
- Pranab Mukherjee, the President of India on 20 May 2014 appointed Narendra Modi as the Prime Minister of India. Narendra Modi, the leader of the BJP Parliamentary Party took a formal oath of the office on 26 May 2014 at Rashtrapati Bhawan. His oath administered by the President.
- China on 21 May 2014 signed a 30-year deal to buy Russian natural gas worth 400 billion US dollars in a financial year. The deal was signed during the Russian President Vladimir Putin visit to China. Gasport firm of Russia and China National Petroleum Corp signed the agreement. As per the agreement, Gasport will supply 38 billion cubic metres of gas annually to China National Petroleum Corp. The contract is worth a total of 400 billion US dollars.
- The Reserve Bank of India on 21 May 2014 allowed banks to provide loans to exporters with tenures of up to 10 years. RBI gave the permission to banks to allow only those exporters who have a minimum of three years satisfactory track record to receive long term export advance up to a maximum tenure of ten years. It will be utilized for execution of long-term supply contracts for export of goods.
- Mobile phone industry giants Apple and Google on 16 May 2014 agreed to settle Smartphone Patent war. Both the companies have agreed to work together in some areas of patent reform.
- India emerged as third largest economy of the World in 2011 in terms of the Purchasing Power Parity (PPP) according to the World Bank Report. The report was released on 29 April 2014 by the World Bank’s International Comparison Program (ICP).
- Moldova and Georgia on 13 May 2014 agreed to sign European Union (EU) Association Agreement on 27 June 2014. The President of the European Council Herman Van Rompuy revealed this in Tbilisi, the capital of Georgia. The signing of the Association Agreement will help strengthen the trade and political ties between the EU and the two countries.
- NASA has developed high-tech cages to carry rodents to the International Space Station (ISS) from Earth. The rodents carried by the cages will allow the researchers to study the long-term effects of microgravity on mammalian physiology. The first flight of the Rodent Habitat modules will be carried out in August 2014 aboard an unmanned SpaceX Dragon cargo ship.
                                                                                                                                              – BY PRATIKSHA TRIVEDI
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