Chile's President Sebastián Piñera Faces Impeachment Bid
Chile's opposition has launched a bid to impeach President Sebastián Piñera over possible irregularities in the sale of a mining company, after details emerged in the Pandora Papers leak.
Mr. Piñera used "his office for personal business", congressman Tomas Hirsch said as he presented the accusation in the Lower House of Congress.
The President is accused of selling the firm to a friend in a deal contingent on a favourable regulatory decision.
The revelations come from the Pandora Papers, a leak of 11.9 million documents. The files say President Piñera sold the Dominga mine, a copper and iron project in an environmentally sensitive area, to a childhood friend in 2010, nine months after he had taken office.
The leaks suggest the last payment in the deal was conditional on not establishing an area of environmental protection where the mining company operated, a demand of environmental groups.
Oct 13, 2021
Irish Budget: Irish Finance Minister Outlines €4.7bn Package
Ireland's Finance Minister Paschal Donohoe has presented his much leaked budget for 2022 to the Dáil (parliament).
Mr. Donohoe told the house that the Republic is now entering a new phase after the Covid-19 pandemic.
He predicted that the national debt would be almost €240bn (£203.5bn) next year or €50,000 (£42,400) for every man, woman and child in the state.
He said debt was currently 106% of national income, but would fall next year to 99%.
Shia Muslim cleric Moqtada al-Sadr claimed victory for his nationalist Saeroun movement in Iraq's election.
Mr. Sadr, who wants to end US and Iranian influence over Iraq's internal affairs, promised to form a government free from foreign interference.
Partial results showed Saeroun winning 73 of the 329 seats in parliament and Sunni Speaker Mohammed al-Halbousi's Taqaddum coalition second with 38.
The pro-Iranian Fatah alliance suffered a surprise setback, getting only 14.
It is likely to take many weeks of negotiations to build a new governing coalition, which Mr. Sadr cannot lead because he did not stand as a candidate.
But the record low official turnout of 41% suggests many Iraqis do not believe that there will be any real change to the power-sharing system, based on sectarian and ethnic identity that has allowed narrow elite to keep a firm grip on power since the US-led invasion in 2003.
International Energy Agency Invites India to Become Full-time Member
International Energy Agency (IEA) invited India, the world's third-largest energy consumer, to become its full-time member - a proposal if accepted will require New Delhi to raise strategic oil reserves to 90 days requirement.
Oil Minister Hardeep Singh Puri held online discussions with IEA Executive Director Fatih Birol.
India in March 2017 became an associate member of the Paris-based body which advises industrialised nations on energy policies.
In January 201, IEA members and India agreed to enter into a strategic partnership, strengthening their collaboration across a range of vital areas including energy security and clean energy transition.
IEA is made up of 30 member countries and eight associate nations. Four countries are seeking accession to full membership - Chile, Colombia, Israel and Lithuania.
The International Energy Agency is a Paris-based autonomous intergovernmental organisation established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the 1973 oil crisis.
Oct 12, 2021
Austria Gets New Leader after Kurz Quits
Alexander Schallenberg took over as the chancellor of Austria, with the government seeking to move on from a corruption scandal.
The Foreign Minister was sworn in after his predecessor, Sebastian Kurz, quit over corruption allegations.
Mr. Kurz and nine others were placed under investigation after raids linked to his conservative People's Party (ÖVP).
The allegations last week took his coalition government to the brink of collapse after ÖVP's junior partner, the Greens, said that Mr. Kurz was no longer fit to be chancellor.
The Greens began talks with opposition parties, who were threatening to bring a vote of no confidence against the chancellor.
Greens leader and Vice Chancellor Werner Kogler welcomed Mr. Kurz's resignation and indicated he would be willing to work with Mr. Schallenberg.
Austrian President Alexander Van der Bellen formally swore in Mr. Schallenberg in a ceremony. The President presented Mr. Schallenberg as an experienced diplomat and a skilful political operator.
Global Multidimensional Poverty Index 2021
Global Multidimensional Poverty Index 2021 was released by United Nations Development Programme (UNDP) and Oxford Poverty & Human Development Initiative (OPHI).
This report examines the level and composition of multidimensional poverty across 109 countries covering 5.9 billion people.
It also takes into account several deprivations that people experience in their day to day lives such as poor health, inadequate education and poor standard of living.
As per report, 1.3 billion people are multidimensionally poor, of which around 644 million are children under age 18.
The Multidimensional Poverty Index (MPI) was launched by the UNDP and the OPHI in the year 2010. MPI uses three dimensions and ten indicators including:
Education: Years of schooling and child enrolment (1/6 weightage each)
Health: Child mortality and nutrition (1/6 weightage each)
Standard of living: Electricity, drinking water, flooring, sanitation, cooking fuel and assets (1/18 weightage each).
IMF Board Backs Georgieva after Review of Data-rigging Claims
The International Monetary Fund's executive board expressed its full confidence in Managing Director Kristalina Georgieva after reviewing allegations that she pressured World Bank staff to alter data to favor China.
But Treasury Secretary Janet Yellen put Ms. Georgieva on notice that she would closely monitor the IMF's follow-up and evaluates any new facts or findings, and called for proactive steps to reinforce data integrity and credibility at the IMF.
The Fund's 24-member board and Treasury issued separate statements after several meetings over Georgieva's actions as World Bank CEO that threw into question her continued leadership of the IMF. The 24-member board reached the decision after marathon meetings over the past week, where members debated the future of Ms. Georgieva, a Bulgarian economist and the first person from a developing country to head the fund. She welcomed the board's endorsement and said that she was pleased its members had agreed the allegations against her were unfounded.
Oct 10, 2021
IMF's Georgieva Wins some European Backing as Board Debates Her Future
As per reports, some European governments backed Kristalina Georgieva to remain International Monetary Fund managing director as the IMF board debated her alleged role in a World Bank data-rigging scandal.
France planned to voice support for Georgieva at the board meeting. Britain, Germany and Italy were also expected to back Georgieva.
US Holds First in-person Talks with Taliban since Afghanistan Withdrawal
US officials mett with senior Taliban officials for talks aimed at easing the evacuations of foreign citizens and at-risk Afghans from Afghanistan.
The focus of talks in Doha, Qatar, held Afghanistan's Taliban leaders to commitments that they would allow Americans and other foreign nationals to leave Afghanistan, along with Afghans who once worked for the US military or government and other Afghan allies.
Nepal PM Sher Bahadur Deuba Expands Cabinet
Nepal Prime Minister Sher Bahadur Deuba expanded his Cabinet by inducting 17 ministers and two ministers of state from the five-party ruling alliance, three months after he assumed office.
With this, the government's strength has now reached 25, including 22 ministers and three ministers of state.
Earlier, there were only six members in the Cabinet, including the Prime Minister and one state minister.
Prime Minister Deuba was unable to expand his Cabinet due to prolonged power sharing negotiations among the five-party ruling alliance. He himself was heading 17 ministries.
Ireland Joins Global Minimum Corporate Tax Deal
Ireland has agreed to join an international agreement establishing a minimum corporate tax of 15 per cent around the world, ditching the low-tax policy that has led companies like Google and Facebook to base their European operations in the country.
The Irish government, which initially rejected the agreement, decided to join the Organization for Economic Cooperation and Development's global minimum tax accord after compromises that would protect the country's economic interests.
Ireland's 12.5 per cent corporate tax rate has been a cornerstone of the country's economic policy since 2003.
Oct 09, 2021
India Slips 6 Ranks on Henley Passport Index 2021
India's rank has slipped by six places from last year to 90 on the Henley Passport Index, which lists the world's most travel-friendly passports.
The Henley Passport Index comes at a time when countries are easing travel rules for international visitors after almost two years since the onset of the Covid-19 pandemic.
The index ranks the passports of countries according to the number of destinations their holders can visit without a prior visa. The rankings are based on the analysis of data provided by the International Air Transport Association (IATA).
Japan and Singapore stood at the top of this year's list, with their passports holders allowed to travel visa-free to 192 countries, while South Korea and Germany share the second position. For the third consecutive year, Japan has secured the top position. Meanwhile, Afghanistan, Iraq, Syria, Pakistan, and Yemen are among the least powerful.
India, which held the 84th rank last year, fell down to the 90th position, with its passport holders allowed to travel visa-free to 58 countries.
Poland Will be in European Family of Nations
Polish Prime Minister Mateusz Morawiecki dismissed speculations of a "Polexit" and asserted that Poland wanted to stay in the European Union (EU). The development came a day after a landmark court ruling that experts said could lead to Poland's divorce from the EU like the United Kingdom's exit.
Morawiecki said that joining the bloc was one of the highlights of the last decades for Poland as well as the European Union.
The Polish top court ruled that some EU treaty articles were incompatible with Poland's Constitution and warned EU institutions not to act beyond the scope of their competencies by interfering with the country's judiciary.
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