Current Affairs Global - 11 August 2015

1. Search engine giant Google Inc has announced formation of a new holding or parent company called Alphabet Inc to encompass its search engine unit and all other subsidiaries. The new parent company was formed as part of Google-s new organisational structure which will help the company to keep tremendous focus on the extraordinary opportunities and products. Under the new structural arrangement all subsidiaries of Google will be brought under the control of Alphabet Inc which will come into effect later 2015.

The new company will be led by Co-founder and current CEO of Google Larry Page and the other co-founder Sergey Brin will work as as the President and Eric Schmidt will be executive Chairman.

At the same time, Chennai born Sundar Pichai has been appointed of as CEO of new Google (subsidiary of Alphabet). With this, he joins the league of famous Indian born CEOs leading global giant companies. Pichai will now lead Google-s future strategy. Larry

2. Greece and its international lenders completed a multi-billion-euro bailout agreement today after marathon talks. Post this, a new aid will be disbursed for Greece who can pay the next debt repayment on time. The pact is expected to be worth up to nearly 86 billion euros (USD 94.75 billion) in fresh loans for Greece.