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Daily Current Affairs 18th May, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 18th May, 2024. It includes all Major National, International, Business and Sports related current affairs of 18th May, 2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 18th May, 2024 Current affairs test.

National News

Southwest Monsoon Expected to Arrive in Kerala by End of May

  • The India Meteorological Department (IMD) predicts that the yearly southwest monsoon will likely make its onset in Kerala by May 31, signifying the beginning of the rainy season in that area.
  • This prediction has sparked widespread anticipation and preparation for the monsoon throughout the nation.

International News

India Faces Potential US Sanctions Over Agreement with Iran on Chabahar Port

  • India has committed to a 10-year contract to manage and develop the strategic Chabahar Port in Iran, aiming to bolster trade links with Central Asia and Afghanistan while avoiding Pakistan.
  • Nonetheless, this agreement could draw US sanctions, which may interfere with New Delhi’s strategic goals.

Business News

Over 7 Million Transactions Recorded on ONDC in April

  • The Department for Promotion of Industry and Internal Trade’s Open Network for Digital Commerce (ONDC) recorded over 70 lakh transactions in April.
  • This digital commerce initiative, started in 2021, strives to democratize the digital commerce space and provide equal opportunities for all business sizes.

Indian Public Companies to Acquire Overseas Mineral Assets

  • Public sector enterprises like Coal India, NMDC, and ONGC Videsh Ltd (OVL) are set to pursue acquisitions of critical mineral assets abroad.
  • This strategic endeavor aims to secure essential resources for industries like clean energy technologies and electric vehicles.

Defence News

Indian Army to Enhance Air Defense with Russian Igla-S Systems

  • The Indian Army is set to boost its air defense capabilities with the upcoming receipt of Russian Igla-S Very Short Range Air Defense systems.
  • This includes a technology transfer deal with Adani Defence Systems and Technologies Limited (ADSTL) and Russia’s Rosoboronexport, enhancing India’s defensive readiness.

Economic News

India and UAE Advance Discussions on Economic Corridor

  • Following a meeting under the Intergovernmental Framework Agreement, India and the UAE are progressing in developing the India-Middle East-Europe Economic Corridor (IMEEC).
  • This corridor aims to offer alternative supply routes, improving efficiency and reducing transportation costs.

India’s Foreign Exchange Reserves See Notable Increase

  • India’s foreign exchange reserves have increased by $2.56 billion, reaching $644.15 billion as of May 10, according to the Reserve Bank of India.
  • This growth follows a prior increase of $3.668 billion after a series of declines.

Obituaries News

Prominent Author Malti Joshi Dies at 90

  • Renowned author and Padma Shri awardee Malti Joshi has died at the age of 90 after a long battle with cancer.
  • Her significant contributions to Hindi and Marathi literature will be remembered for their profound impact.

Important Days

International Museum Day 2024 Celebrated

  • International Museum Day is observed worldwide on May 18th to promote awareness of the crucial role museums play in preserving cultural, historical, and artistic treasures.
  • This day underscores the educational and cultural importance of museums as keepers of heritage.

World AIDS Vaccine Day 2024 Observed

  • Also falling on May 18th, World AIDS Vaccine Day, or HIV Vaccine Awareness Day, is dedicated to raising awareness about the critical need for vaccines against AIDS.
  • It also honors the contributions of professionals and community members working towards developing effective HIV vaccines.
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