• Parliament approves the Information Technology Bill which gives legal sanction to e-commerce and e-governance.

• The toll in ethnic violence by the banned National Liberation Front guerrillas rises to 45 in West Tripura.

• Raghavan Committee on Competition Policy recommends creation of Competition Commission of India (CCI) to implement the proposed Indian Competition Act while repealing the Monopolies and Restrictive Trade Practices Act (MRTPA), 1969 and the MRTP Commission.

• Trishul, the surface-to-air missile with a range of about nine km, is successfully test-fired off the coast of Kochi.
• India and Iran constitute a joint working group to explore possibilities of a gas pipeline to India.

• Noted lyricist Majrooh Sultanpuri passes away. He was 78.

 May 26

• The Cabinet Committee on Disinvestment decides to disinvest 60 per cent of Air India’s equity. This will include sale of upto 26 per cent of its shareholding to a strategic foreign partner, 14 per cent to Indian strategic partner, 10 per cent to ESOPs and the remaining 10 per cent to financial and domestic investors.

• Prime Minister effects a minor expansion and reshuffle of his Ministry by inducting three new ministers into his Cabinet– Nitish Kumar of Samata Party and Arjun Sethi, B.K. Tripathy of Biju Janata Dal.

• President K.R. Narayanan begins a six-day State visit to China, to further consolidate Sino-Indian relations.
• A major fire breaks out in the Central Ordnance Depot destroying military goods worth several lakhs of rupees.

• Sierra Leone’s rebel leader Foday Sankoh is in the custody of British troops. Sankoh and his forces held hostage several hundred U.N. peace-keeping troops early this month.

 May 18

• U.N. imposes an arms embargo on Ethiopia and Eritrea until the two countries agree on a peace-accord.

• China and the European Union reach a market access deal that removes the last hurdle to China’s entry to the World Trade Organisation.
• Fiji’s President declares a state of emergency after the coup leader George Speight takes the Prime Minister Mahendra Chaudhry hostage and claims power in the name of indigenous Fijians.

• China wins Uber Cup crown beating Denmark in the final of Women’s Badminton Tournament at Kuala Lumpur.

• British novelist Barbara Cartland passes away. She was 98.
• Leading industrialist and Chairman of the Godrej group of companies, S.P. Godrej dies in London. He was 87.
• A sherpa guide Babu Chhiri, climbs Mount Everest in less than 16 hours, setting a new record for the fastest climb of the world’s highest summit.
• "Dancer in the Dark" by Danish director Lars Von Trier, wins the Golden Palm award for the best film at the 32^nd International film festival at Cannes.

• Monica Seles wins her second Italian Open title in 10 years beating France’s Amelia Mauresmo in the Italian Open final in Rome.

• Former Pakistan skipper Salim Malik and medium pacer Ata-ur Rehman are banned for life by Pakistan cricket board as they were found guilty of Match-fixing.

• LTTE declares a 12-hour ceasefire in Jaffna Peninsula of Sri Lanka to enable the civilians to move to safer places.

• Fiji President dismisses Prime Minister Mahendra Pal Chaudhry who is still being held hostage by the coup leader George Speight.

• Fijian President Ratu Sir Kamisese Mara resigns following proclamation of martial law in the country.

• Fiji’s new military ruler commodore J.V. Bainimarama promulgates a decree scrapping the 1997 Constitution Amendment.

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