General Awareness

INTERNATIONAL AFFAIRS - February 2016

Feb 2016

Dec 20, 2022

EU Adopts Global Minimum 15% Tax on Multinationals

The European Union adopted a plan for a global minimum 15% tax on big business.
Leaders gave their final approvals after months of political wrangling.
The landmark deal between nearly 140 countries aims to stop governments racing to cut taxes in a bid to attract companies.
It was praised by US Treasury Secretary Janet Yellen as "an historic agreement which helps even the playing field".
Corporation tax is usually based on a company's profits. But often they might be able to pay less depending on where their offices are registered or how they invest in their business.
The newly-approved plan was drawn up under with the guidance of the Organisation for Economic Cooperation and Development (OECD) and already had the backing of Washington and several major EU economies.

Lalrinawma Sworn in as Mizoram Minister

Lalrinawma who resigned as Deputy Speaker of the Mizoram Assembly was sworn in as a state minister.
Mizoram Governor Hari Babu Kambhampati administered the oath of office to Lalrinawma at a function to be held at Raj Bhavan.

Dec 19, 2022

IMF Approves Deal with Egypt for USD 3 Billion Support Package

The International Monetary Fund approved a deal that will provide a USD 3 billion support package to cash-strapped Egypt over a period of almost four years, with the agreement expected to draw in additional USD 14 billion in financing for the Middle East country.
The announcement from the IMF's executive board came after a preliminary agreement was reached in October between Egypt and the fund, hours after Egypt's central bank introduced a series of reforms, including a hike in key interest rates by roughly 2 percentage points.
The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine, events that have played havoc with global markets and hiked oil and food prices worldwide.

Missiles Rain Down on Ukraine in One of Russia's Largest Attacks Yet

Russia fired more than 70 missiles at Ukraine in one of its biggest attacks since the start of the war, knocking out power in the second biggest city and forcing Kyiv to bring in emergency blackouts nationwide.
The strikes caused "colossal" damage to infrastructure in the Ukrainian city of Kharkiv and mainly affected the energy system.

Chancellor Olaf Scholz Inaugurates Germany's First Liquefied Natural Gas Terminal

Chancellor Olaf Scholz inaugurated Germany's first liquefied natural gas terminal, declaring that the speed with which it was put into service is a signal that Europe's biggest economy will remain strong.
The top three officials in the government — Scholz, Economy Minister Robert Habeck and Finance Minister Christian Lindner — attended the inauguration in the North Sea port of Wilhelmshaven in a sign of the importance that Germany attaches to several new LNG terminals that it is scrambling to build following Russia's invasion of Ukraine.

Japan Unveils Biggest Military Build-up Since World War Two

Japan unveiled its biggest military build-up since World War Two with a $320 billion plan that will buy missiles capable of striking China and ready it for sustained conflict, as regional tensions and Russia's Ukraine invasion stoke war fears.
The sweeping, five-year plan, once unthinkable in pacifist Japan, will make the country the world's third-biggest military spender after the United States and China, based on current budgets.
Prime Minister Fumio Kishida, who described Japan and its people as being at a "turning point in history", said that the ramp-up was his answer to the various security challenges that Japan faces today.

Indian-origin Leo Varadkar Elected as Prime Minister of Ireland

Indian-origin Leo Varadkar, former Irish Deputy Prime Minister and leader of the Fine Gael party, was elected as the new Prime Minister of Ireland following a vote in the lower house of the Irish parliament.
A total of 87 members of the house voted in favour of his nomination as the new Prime Minister while 62 members voted against it.
Following his appointment as new Prime Minister by Irish President Michael D. Higgins, Varadkar announced a reshuffle of the cabinet.

UN Rejects Seats for Myanmar Junta, Taliban, Libya's East

The U.N. General Assembly rejected attempts by Myanmar's military junta, Afghanistan's Taliban rulers, and Libya's rival eastern-based government to take their country's seats at the United Nations.
The 193-member world body voted by consensus, with a bang of the gavel by assembly president Csaba Korösi, to approve a recommendation by its Credentials Committee that the requests be deferred.
The committee decided to postpone its consideration of the credentials pertaining to the representatives of Myanmar, Afghanistan and of Libya" to a future time in the current 77th session of the General Assembly, which ends in September 2023.
Korösi then gaveled adoption of the resolution approving the committee's report.

Dec 18, 2022

India Abstains from Vote to Remove Iran from UN women's Commission

India abstained from a spirited debate at the UN Economic and Social Council (ECOSOC) which adopted a draft resolution on removal of Iran from its membership of the Commission on the Status of Women for the remainder of its 2022-2026 term, citing its oppression of women and girls.
Adopted by a recorded vote of 29 in favour to 8 against (Bolivia, China, Kazakhstan, Nicaragua, Nigeria, Oman, Russian Federation and Zimbabwe) with 16 abstentions, the draft expressed concern over actions of the government of Iran since September 2022 to increasingly suppress the human rights of women and girls, using lethal force that has resulted in the deaths of peaceful protesters. By the text, the council decided to remove with immediate effect Iran from the membership of the Commission on the Status of Women for the remainder of its 2022-2026 term.

Dec 17, 2022

Tokyo Makes Solar Panels Mandatory for New Homes Built after 2025

All new houses in Tokyo built by large-scale homebuilders after April 2025 must install solar power panels to cut household carbon emissions, according to a new regulation passed by the Japanese capital's local assembly.
The mandate, the first of its kind for a Japanese municipality, requires about 50 major builders to equip homes of up to 2,000 square metres (21,500 square feet) with renewable energy power sources, mainly solar panels.
Tokyo Governor Yuriko Koike noted that just 4% of buildings where solar panels could be installed in the city have them now. The Tokyo Metropolitan Government aims to halve greenhouse gas emissions by 2030 compared with 2000 levels.
Japan, the world's fifth-largest carbon emitter, has committed to achieving carbon neutrality by 2050 but faces difficulty as it has relied heavily on coal-burning thermal power after most of its nuclear reactors were in the wake of the 2011 Fukushima disaster.

Dec 16, 2022

UK, France and UAE Support India's Bid for Permanent Membership at UNSC

The UK, France and UAE extended support for India's permanent membership at the United Nations Security Council (UNSC).
Dame Barbara Woodward, the UK Permanent Representative to the United Nations said that the Security Council must as others have said become more representative of the world today and the UK has long called for its expansion in both the permanent and non-permanent categories.
The UN Security Council is the premier global body for maintaining International peace and security. The Security Council, the United Nations' principal crisis-management body, is empowered to impose binding obligations on the 193 UN member states to maintain peace.
The council's five permanent and ten elected members meet regularly to assess threats to international security, including civil wars, natural disasters, arms proliferation, and terrorism.
The UN Security Council is composed of 15 members, including five permanent member states - China, France, Russian Federation, the United States, and the United Kingdom - and 10 non-permanent member states, which are elected by the United Nations General Assembly (UNGA).

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