G7 Leaders Agree to Lend Ukraine $50 bn Using Frozen Russian Assets as Collateral
A Group of Seven summit opened with a pact reached on a US proposal to back a $50 billion loan to Ukraine using frozen Russian assets as collateral, giving Kyiv a strong show of support even as Europe's political chessboard shifts to the right.
Italian Premier Giorgia Meloni welcomed the heads of state of the G7 leading industrialised nations to a luxury resort in southern Italy, saying she wanted the message of the meeting to be one of dialogue with the global south and unity. She likened the G7 to the ancient olive trees that are a symbol of the Puglia region, "with their solid roots, and branches projected toward the future".
Jun 13, 2024
United Nations Declares 2025 as the Year to Focus on Quantum Advancements
The United Nations General Assembly officially declared 2025 as the International Year of Quantum Science and Technology. The 193-member Assembly passed a resolution co-sponsored by Ghana and six other countries, acknowledging the significance of this groundbreaking field of study.
The year 2025 marks a century since the publication of Werner Heisenberg's seminal paper, which laid the foundation for quantum mechanics. This momentous scientific event prompted the United Nations Educational, Scientific, and Cultural Organization (UNESCO) to request the General Assembly to declare 2025 as the International Year of Quantum Science and Technology.
IMF Approves Second Review of Sri Lanka's $2.9 Billion Bailout
The International Monetary Fund (IMF) approved the second review of Sri Lanka's $2.9 billion bailout package, authorising the flow of around $336 million to the crisis-hit nation. The global lender acknowledged signs of economic growth in a statement issued but warned that the country's economy remained highly vulnerable and that achieving debt sustainability remains a challenge.
The IMF urged the Official Creditor Committee (OCC), which comprises key lenders Japan and India, to complete a Memorandum of Understanding (MoU) as soon as possible. It also encouraged complete agreements with the Chinese Export-Import Bank. The lender highlighted the importance of completing these agreements in stabilising Sri Lanka's financial status and ensuring a long-term economic recovery.
Jun 12, 2024
Portugal to Use Golden Visa Scheme to Help Migrants, Build Affordable Homes
Portugal plans to adapt its golden visa scheme to allow wealthy foreigners seeking residency rights to invest in affordable housing for locals or accommodation for migrants.
Antonio Leitao Amaro said the scheme - called a "solidarity visa" - would complement an existing programme, which since 2012 has offered non-EU nationals who invest in Portugal the right to live in the country.
Malawi Vice-President, 9 Others Die in Plane Crash
Malawi's Vice President and nine others were killed in a plane crash, the country's President said.
The wreckage of the military plane carrying Vice President Saulos Chilima was located in a mountainous area in the north of the country after a search that lasted more than a day.
There were no survivors of the crash, Malawian President Lazarus Chakwera said.
The plane carrying 51-year-old Vice President Saulos Chilima and former First Lady Shanil Dzimbiri went missing while making the 45-minute flight from the southern African nation's capital, Lilongwe, to the city of Mzuzu.
Jun 11, 2024
India Welcomes Egypt, Iran, UAE, Saudi Arabia and Ethiopia Joining BRICS
India welcomed Egypt, Iran, UAE, Saudi Arabia and Ethiopia joining the BRICS as their representatives attended for the first time a key meeting of the grouping hosted by Russia. Senior diplomat Dammu Ravi led the Indian delegation at the BRICS Foreign Ministers' Meeting in Nizhny Novgorod, in western Russia.
The meeting was the first ministerial meeting following BRICS expansion in 2023 when Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE joined Brazil, Russia, India, China, and South Africa as full-fledged BRICS members.
Indian Tripartite Delegation at the 112th Session of International Labour Conference
The Indian tripartite delegation led by Secretary (Labour & Employment), Ms. Sumita Dawra, participated in the 112th session of the International Labour Conference (ILC) of International Labour Organisation (ILO) being held in Geneva, Switzerland till June 14.
The International Labour Organization is a United Nations, headquartered in Geneva, Switzerland, agency whose mandate is to advance social and economic justice by setting international labour standards. Founded in October 1919 under the League of Nations, it is one of the first and oldest specialised agencies of the UN. The current (as in 2024) Director-general is Gilbert Houngbo.
Jun 10, 2024
European Commission Excludes Tanzania from Conservation Grant
The European Commission (EC) removed Tanzania from the list of countries eligible for its 18 million Euro conservation grant to be launched in East Africa as part of its NaturAfrica initiative.
'CORRIGENDUM NO 4' uploaded under the section 'EU Funding & Tenders Portal' on the EC portal as on June 5, 2024, notes that, "This call for proposals is targeting the Eastern Rift Savannahs and Watersheds (ERiSaWa) component of NaturAfrica, and more particularly two KLCDs of high biodiversity importance, which offer sustainable socio-economic opportunities to local communities and require good governance to continue providing critical ecosystem services."
'KLCD' is short for Key Landscapes for Conservation and Development.
Emmanuel Macron Dissolves National Assembly, Calls Snap Elections in France
French President Emmanuel Macron dissolved the parliament after the far-right defeated his centrist alliance in EU polls. Macron called snap legislative elections on June 30 and July 7. Hundreds of millions of Europeans are voting to select 720 Members of the European Parliament.
Macron said that he can't pretend nothing has happened and that the outcome of the EU election is "not a good result for parties who defend Europe". He added the rise of nationalists was a danger for France and Europe.
Philemon Yang of Cameroon Elected President of Upcoming General Assembly Session
The UN General Assembly (UNGA) elected former Cameroonian Prime Minister Philemon Yang as president of the 79th UNGA session. Yang will succeed Denis Francis of Trinidad and Tobago, president of the 78th UNGA session, when the 79th UNGA session opens on September 10 at the UN headquarters in New York.
Yang served as Cameroonian prime minister from 2009 to 2019, and since 2020, he has been serving as the Grand Chancellor of National Orders at the Presidency of the Republic. He served as Cameroon's High Commissioner to Canada between 1984 and 2004, and has held the position of Chairperson of the Panel of Eminent Africans of the African Union since February 2020. Following Uganda (2014) and Nigeria (2019), Cameroon became the 13th African country to have a representative appointed as president of the UN General Assembly.
The United Nations General Assembly (UNGA) is one of the six principal organs of the United Nations (UN), serving as its main deliberative, policymaking, and representative organ.