General Awareness

INTERNATIONAL AFFAIRS - November 2016

Nov 2016

Nov 14, 2022

US Removes India from Its Currency Monitoring List

India is among the few countries removed from the United States' Currency Monitoring List, released by the Department of Treasury. In its biannual report to Congress, the US' Treasury Department announced that it also removed Italy, Mexico, Vietnam and Thailand from the list.
India's removal from US' Currency Monitoring List) means that the Reserve Bank of India (RBI) can now take robust measures to manage the exchange rates effectively, without being tagged as a currency manipulator. This is a big win from a markets standpoint and also signifies the growing role of India in global growth. To manage exchange rates amid the rupee fall, the RBI recently took actions like buying dollars at the time of excess inflows and selling dollars at the time of outflows. For India, it is good news as we were designated a currency manipulator. The rupee could appreciate on account of this.

Israeli President Herzog Invites Benjamin Netanyahu to Form New Government

Israeli President Isaac Herzog officially invited former Prime Minister Benjamin Netanyahu to form the new government.
Netanyahu, who had won the backing of 64 Members of the Knesset (Israeli Parliament), was assigned the task to form the next government.
Netanyahu will have 28 days to form the government. If an extension is required, the President has the legal authority to grant an extension of up to fourteen additional days.
Israel's longest-serving leader, Netanyahu has won a record five elections to hold office five times - more than any other Prime Minister in the country's 74-year history.

WHO Releases First Data on Global Vaccine Market Since COVID-19

The World Health Organization (WHO) released a report that shows that inequitable distribution is not unique to COVID-19 vaccines, with poorer countries consistently struggling to access vaccines that are in-demand by wealthier countries.
WHO's Global Vaccine Market Report 2022, revealed that limited vaccine supply and unequal distribution drive global disparities.
According to WHO, affordability is also an obstacle to vaccine access. Although prices tend to be tiered by income, price disparities see "middle-income countries paying as much – or even more – than wealthier ones for several vaccine products."

Year 2022 Declared as ASEAN-India Friendship Year

The year 2022 was declared as the ASEAN-India Friendship year, as ASEAN and India commemorate 30 years of partnership. A series of events has been planned to celebrate the occasion throughout the year. As a part of this programme, Indian media delegation is on a visit to Singapore and Cambodia under the ASEAN-INDIA Media exchange programme from 8th November to 13th November.
On the first leg of the visit the delegation visited the Singapore-India Chambers of Commerce and Industries (SICCI) and had an exchange of thoughts on topics such as India-Singapore relations with a specific focus on business-friendly policies and the expectations of business community in Singapore from India.
As a precursor to the visit of the Vice President of India to Cambodia for the ASEAN Summit, the delegation visited the Angkor Vat and Ta Prohm temple complexes and witnessed the prominent role played by the Government of India and the Archeological Survey of India in restoring these UNESCO World Heritage sites there. Vice President would be inaugurating the newly restored portions of the Ta Prohm temple complex during the visit.

ASEAN Agrees in Principle to Admit East Timor as 11th Member

The Association of Southeast Asian Nations (ASEAN) agreed in principle to admit East Timor as the group's 11th member, the bloc said in a statement on Friday, more than a decade after the country requested membership.
The half-island nation, officially called Timor Leste, will also be granted observer status at high-level ASEAN meetings, the bloc said after regional leaders met in Phnom Penh for a summit.
ASEAN added that next steps would include a "roadmap for full membership" to be submitted at next year's summit.
The country would be the first new member of the regional grouping in more than two decades, since Cambodia was admitted in 1999.

Nov 12, 2022

Ukraine Inks Peace Accord with ASEAN

Ukraine signed a peace accord with Southeast Asian Nations, a largely symbolic act that comes as Kyiv seeks to shore up international support in isolating Russia.
Ukrainian Foreign Minister Dmytro Kuleba signed the "Treaty on Amity and Cooperation in Southeast Asia" as the annual summit of the Association of Southeast Asian Nations got underway in Phnom Penh, Cambodia.
In an early November call with Ukrainian President Volodymyr Zelenskyy, Cambodian President Hun Sen stressed the need for an end to the war "so that Ukraine can regain peace, stability, territorial integrity and development.
The "TAC" peace treaty established in 1976 commits parties to "mutual respect for the independence, sovereignty, equality, territorial integrity and national identity of all nations," among other things.

Nov 11, 2022

IMF to Provide $4.5 bn Loan for Bangladesh to Combat Economic Crisis

Bangladesh and the IMF reached a preliminary agreement under which the global lender will provide a $4.5 billion support package to stabilise its economy and protect the vulnerable people.
The IMF agreement came months after discussions between the global lender and Bangladesh officials.
Bangladesh is the third South Asian nation after Sri Lanka and Pakistan to secure a bailout package from the IMF to tide over the sharp rise in food and energy prices caused by the coronavirus pandemic and the global inflation due to the Russia-Ukraine war.

Nov 10, 2022

Four Indian-Americans Elected to US House in Midterm Polls

Four Indian-American politicians from the ruling Democratic Party were elected to the US House of Representatives and many others won across the country to state legislatures in the highly polarised midterm poll.
Entrepreneur-turned-politician Thanedar became the first Indian-American to win the Congressional elections from Michigan. Thanedar currently represents the third district in the Michigan House.
In the eighth Congressional District of Illinois, Raja Krishnamoorthi was re-elected for the fourth consecutive term. In Silicon Valley, Ro Khanna defeated his compatriot Republican opponent Ritesh Tandon in the 17th Congressional District of California.
Chennai-born Congresswoman Pramila Jayapal, the only Indian-American woman lawmaker in the House of Representatives, defeated her GOP rival, Cliff Moon in the 7th Congressional District of Washington State.

Nov 09, 2022

Algeria Officially Submits Application to Join the BRICS

Algeria submitted an official application to join the BRICS economic bloc, which consists of Brazil, Russia, India, China and South Africa according to reports quoting citing the Algerian Foreign Ministry special envoy for international partnership.
In August, the North African country's President Abdelmadjid Tebboune said that the country was ready to join BRICS and that there were almost all the conditions for this.

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