Daily Current Affairs – 08-11-2025
International News
Tesla Shareholders Approve Record $878 Billion Pay Deal for Elon Musk
In a landmark decision, Tesla shareholders have approved an unprecedented $878 billion pay package for CEO Elon Musk, marking one of the largest compensation deals in corporate history. The approval reflects strong investor confidence in Musk’s vision to transform Tesla from an electric vehicle manufacturer into a global AI and robotics powerhouse.
The proposal received over 75% shareholder backing, signalling broad support for Musk’s leadership. Following the announcement, Tesla shares rose by around 1% in after-hours trading.
At the shareholder event in Austin, Texas, Musk appeared on stage alongside dancing robots, calling the approval a new beginning for Tesla.
Economy News
wiggy Board Approves ₹10,000 Crore Fundraise to Strengthen Growth Capital
In a strategic move to boost its financial base amid intensifying competition, food-delivery giant Swiggy has secured its Board of Directors’ approval to raise up to ₹10,000 crore through Qualified Institutional Placement (QIP) or other permitted modes, in one or more tranches depending on market conditions.
This fundraising initiative aims to enhance Swiggy’s growth capital, support its long-term expansion, and reinforce its presence in India’s fast-growing food-delivery and quick-commerce sectors.
Unlike an Initial Public Offering (IPO)—where a company offers its shares to the general public for the first time—QIP allows already-listed companies to issue shares only to qualified institutional investors such as mutual funds, banks, insurance firms, and foreign institutional investors.
While IPOs involve extensive SEBI approvals, marketing, and disclosure processes, making them costlier and time-consuming, QIPs are faster and more economical, as they target sophisticated investors and require fewer regulatory formalities.
Sports News
India Celebrates 100 Years of Hockey Legacy with Grand National Event
Marking a century of Indian hockey’s glorious journey, the Centenary Celebrations of Indian Hockey were inaugurated in New Delhi at the Major Dhyan Chand National Stadium, with parallel events held across the country. The celebrations were jointly organised by Hockey India, the Sports Authority of India (SAI), and the Ministry of Youth Affairs & Sports.
The event honoured 100 years of excellence, unity, and pride, tracing Indian hockey’s journey from its 1925 beginnings to its modern-day resurgence.
A commemorative book titled “100 Years of Indian Hockey – The Journey Through the Ages” was released, alongside a photo exhibition showcasing rare archival moments from the 1928 Amsterdam Olympics to the present day.
Adding to the grandeur, the FIH Men’s Junior World Cup 2025 trophy was displayed before beginning its 20-city nationwide tour, concluding in Chennai later this month.
Ryan Williams to Represent India
In a historic move for Indian football, Australian international Ryan Williams has officially switched allegiance to play for Team India, following a suggestion from veteran striker Sunil Chhetri earlier this year. Williams’ inclusion signals the beginning of a new era as India looks to rebuild its forward line after Chhetri’s retirement from international football.
Williams is expected to feature in India’s AFC Asian Cup third-round qualifier against Bangladesh on November 18 in Dhaka, pending a No Objection Certificate from Football Australia. His addition does more than fill a spot — it represents the passing of the torch from India’s legendary captain Sunil Chhetri to the next generation.
India grants citizenship under the Citizenship Act, 1955, mainly through Section 6 (Naturalisation). Normally, a foreign national must reside in India for at least 12 years, but in special national-interest cases—such as exceptional athletes, scientists, or artists—the government may waive or fast-track this requirement.
Such cases are jointly handled by the Ministry of Home Affairs (MHA), with inputs from the External Affairs and Sports Ministries. Final approval is issued by the Home Ministry, along with the concerned sports body (here, the AIFF).
New Leadership for Soorma Hockey Club: Belgian Olympian Goldberg Takes Charge
Belgian Olympian Philippe Goldberg has been appointed as the Head Coach of Soorma Hockey Club ahead of the upcoming second season of the Hockey India League (HIL).
Joining him in the revamped coaching setup is Argentine Olympian Ignacio Ricardo Bergner, who will serve as the Analytical Coach.
The club’s outgoing head coach Jeroen Baart will now move into an advisory role, bringing his experience to guide the team strategically.
Soorma Hockey Club will begin its 2026 campaign on January 4 in Chennai, facing defending champions Shrachi Rarh Bengal Tigers, marking the start of an exciting new season under fresh leadership.