Five Nations Oppose Pakistan's Bid to List Indian as Terrorist at UNSC
Pakistan's attempt to list an Indian national Gobinda Patnaik Duggivalasa as United Nations-listed terrorist was again rejected by five countries including India, the UK, the US, France and Albania at the United Nations Security Council's committee. Three of these counties are the permanent members of the Security Council, while Albania is the President of the Council for this month.
Pakistan had earlier tried to name the same individual on the list in 2020 and had attempted to list him as a UN terrorist but was rejected at the time as well.
India Ranks 4th in Gold Recycling with Refining Capacity of 1,800 Tonnes: WGC
The World Gold Council (WGC) in a report titled 'Gold Refining And Recycling' said that India's gold refining landscape has changed notably over the last decade, with the number of formal operations increasing from less than five in 2013 to 33 in 2021. As a result, the nation's capacity for organised gold refining has increased dramatically from just 300t in 2013 to an estimated 1,800t.
According to the WGC report, China topped the global gold recycling chart as it recycled 168 tonnes of the yellow metal, followed by Italy in the second position with 80 tonnes and the US in the third rank with 78 tonnes in 2021.
Jun 21, 2022
Lankan Cabinet Okays Move to Restrict President's Powers
Sri Lankan Cabinet passed the 21st Amendment to the Constitution aimed at empowering Parliament over the executive President. It will now be tabled in Parliament. The amendment is expected to annul the 20A Amendment to the Constitution, which gives unfettered powers to President Gotabaya Rajapaksa after abolishing the 19th Amendment that will strengthen Parliament.
The 21A aims, among other reforms, at barring dual citizens from contesting elections to hold public office.
Israeli PM Bennett to Dissolve Parliament
Israel could be headed towards its fifth parliamentary elections in less than three-and-a-half years with Prime Minister Naftali Bennett and his ally Alternate Prime Minister and Foreign Minister Yair Lapid announcing to introduce a bill to dissolve the Knesset (parliament) next week.
Bennett and Lapid said that they had "exhausted options to stabilise" their coalition which had come under severe strain over unruly members threatening to dump it.
The move, if passed, will trigger snap polls - Israel's fifth in just about three years.
Jun 20, 2022
Sara Duterte Sworn in as Vice-president
The eldest daughter of outgoing Philippines President Rodrigo Duterte was sworn in as vice-president.
Sara Duterte vowed to unite the Philippines at a ceremony in Davao.
She took the oath beside her running mate, Ferdinand Marcos Junior, who will soon replace her father as President.
As candidates in May's elections the pair shored up historic landslide victories by forging a powerful alliance and running on a message of unity that helped many of their allies win power elsewhere in government too.
In the Philippines, the President and vice-president are elected separately.
Emmanuel Macron Alliance Projected to Lose Parliamentary Majority
President Emmanuel Macron is on course to lose his absolute majority in the National Assembly and control of his reform agenda after the first projections. Macron's centrist Ensemble! alliance was set to end up with the most seats, the polls show, followed by the left-wing Nupes bloc headed by hard left veteran Jean-Luc Melenchon.
Forecasts by pollsters Ifop, OpinionWay, Elabe and Ipsos showed Ensemble! winning 200-260 seats and Nupes securing 149-200. The threshold for an absolute majority is 289 seats in the lower House.
A hung parliament would open up a period of political uncertainty that would require a degree of power-sharing among parties, or else result in political paralysis and even repeat elections.
FATF (Financial Action Task Force) Keeps Pakistan on Grey List
The Financial Action Task Force (FATF) kept Pakistan on the grey list but said a visit to verify progress on countering financing of terrorism and money laundering could lead to its removal from countries under increased monitoring.
The financial crime watchdog, set up by the Group of Seven industrial powers to protect the global financial system, said Islamabad had substantially completed its two action plans, covering 34 items, as it seeks to get off the list where it has been since 2018.
Gustavo Petro, the leftist former mayor of Bogota and ex-rebel fighter, was declared the winner of Colombia's presidential election.
Mr. Petro, a current senator, defeated right-wing construction magnate Rodolfo Hernández in the run-off election.
Figures showed he took 50.5% of votes, defeating his rival by more than 700,000 ballots to become Colombia's first left-wing leader.
His running mate Francia Marquez, a single mother and former housekeeper, will become the country's first black woman vice-president.
Jun 19, 2022
Arati Prabhakar to be Appointed as Science Adviser to the President of US
US President Joe Biden is expected to name Arati Prabhakar as the head of the White House Office of Science and Technology Policy (OSTP). She will succeed Eric Lander who left the role nine months after his appointment after he admitted to bullying his staff and creating a hostile work environment during his tenure.
Once the Senate approves the 63-year-old's appointment, Arati would be the first woman and the first person of color to serve as science adviser to the President of the United States. Her role will require advising Biden on how to compete with China, bring forth rules which will protect US-funded academic research from theft and aim to reduce inequality within the research community.
Arati also served in top roles during the presidential tenures of Bill Clinton and Barack Obama. The Clinton administration picked her to lead the National Institute of Standards and Technology (NIST) and the Obama administration picked her to lead the Defense Advanced Research Projects Agency (DARPA).
EU Leaders Back Immediate Candidate Status for Kyiv
The leaders of France, Germany, Italy and Romania have backed Ukraine's bid to join the EU, saying it should be given "immediate" candidate status.
"Ukraine belongs to the European family," German Chancellor Olaf Scholz said at a joint briefing in Kyiv.
But he added that Ukraine still had to meet the accession criteria in full.
Meanwhile, French President Emmanuel Macron stressed the 27-member EU would stand by Ukraine until its victory against Russia.
Ukrainian President Volodymyr Zelensky described Russia's continuing aggression as a war "against the united Europe", adding that the "most effective weapon" was unity.
Jun 18, 2022
Somali President Appoints New Prime Minister
Somali President Hassan Sheikh Mohamud appointed Hamza Abdi Barre as the country's new Prime Minister to replace Mohamed Roble who has been in office since September 2020.
Barre, a Member of Parliament from the Lower House of Parliament is a close ally of President Mohamud and member of the President's political party.
For the First Time in a Decade, WTO Members Reach Historic Deal
For the first time in a decade, the members of the World Trade Organization (WTO), a 164-nation body, finalised a historic deal at the 12th Ministerial Conference (MC12).
The four-day MC12 was extended by a day as trade ministers negotiated.
India has agreed to the proposal of no export restrictions on the World Food Programme. But internal food security concerns will take precedence. There is no work programme on agriculture, which could be considered as a good outcome for India as our agri subsidy will not face any further scrutiny.
Federal Reserve of the US Raises Interest Rates for the First Time Since 1994
The US Federal Reserve increased its main interest rate by three-quarters of a per cent, the largest increase in almost three decades, and signalled that more large rate increases are on the way, boosting the likelihood of another recession. The Fed's decision, announced following its most recent policy meeting, would boost its benchmark short-term rate to a range of 1.5 per cent to 1.75 per cent, affecting many consumer and commercial loans.
In reaction to the Fed's actions, borrowing costs have already increased dramatically throughout most of the US economy, with the average 30-year fixed mortgage rate surpassing 6%, its highest level since before the 2008 financial crisis, up from just 3% at the start of the year. The yield on the 2-year Treasury note, which is used as a benchmark for corporate borrowing, has risen to 3.3 percent, the highest since 2007.
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