Constitution of 17th Lok Sabha: ECI submits list of newly-elected MPs

  • The full Election Commission on Saturday called on President Ram Nath Kovind and handed over the list of 542 newly-elected members of the Lok Sabha that will enable him to initiate the formal process of new government formation.
  • While the notification sets in motion the constitution of the 17th Lok Sabha, the list given to the President enables him to initiate government formation process.    
  • On Saturday evening, newly-elected MPs of the National Democratic Alliance (NDA) are likely elect Narendra Modi as its leader.

Japan trade a problem for Trump, but not as bad as China

  • When President Donald Trump visits Japan, he’ll be able to point to Tokyo’s streets to drive home a sore point in trade relations between the allies: the absence of made-in-USA vehicles.
  • The $70 billion Japanese trade surplus with the US is dwarfed by China’s $379 billion surplus, and the trade tensions between Washington and Tokyo are far less contentious than the tariffs war with Beijing.

2 Indians among 3 dead as ‘traffic jam’ on Everest puts climbers at risk

  • Three more climbers have died on Everest, expedition organisers and officials said Friday, taking the toll from a deadly week on the overcrowded peak of the world’s tallest mountain to seven.
  • Nepal has issued a record 381 permits costing $11,000 each for this year’s spring climbing season, triggering bottlenecks en route to the summit after poor weather cut down the number of climbing days.

Investors wealth increased by Rs 6 lakh crore in a historic week

  • The market staged spectacular performance with not only Nifty & Sensex, but also Bank Nifty hitting record highs after Narendra Modi elected as Prime Minister for second time in a row.
  • The total BSE market capitalisation increased to Rs 152.7 lakh crore on May 24, from Rs 1.46 lakh crore on May 17.

FDA okays $2M medicine, most expensive ever

  • U.S. regulators have approved the most expensive medicine ever, for a rare disorder that destroys a baby’s muscle control and kills nearly all of those with the most common type of the disease within a couple of years.
  • The treatment is priced at $2.125 million (About 14 crore rupees). Out-of-pocket costs for patients will vary based on insurance coverage.