Current Affairs Question - 17 March 2020

Explanation :

• The Grand Ethiopian Renaissance Dam (GERD), formerly known as the Millennium Dam and sometimes referred to as Hidase Dam is an under construction gravity dam on the Blue Nile River in Guba Woreda, Benishangul Gumuz Region of Ethiopia.
• The dam will be the largest hydroelectric power plant in Africa when completed, as well as the seventh largest in the world.
• The dam is the centerpiece of Ethiopia’s bid to become Africa’s biggest power exporter, with a projected capacity of more than 6,000 megawatts.

Blue Nile

• The Blue Nile is a river originating at Lake Tana in Ethiopia.
• With the White Nile, it is one of the two major tributaries of the Nile. The Blue Nile supplies about 80% of the water in the Nile during the rainy season.

Explanation :

• Oliver Gingold, who worked at Dow Jones, coined the phrase ‘Blue Chip’ in 1923.
• Blue chip stocks are shares of very large and well-recognised companies with a long history of sound financial performance.
• These stocks are known to have capabilities to endure tough market conditions and give high returns in good market conditions.
• These stocks generally cost high, as they have good reputation and are often market leaders in their respective industries.
• Investors turn to blue-chip stocks because they have dependable financials and often pay dividends.