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INTERNATIONAL AFFAIRS - November 2016

Nov 2016

Oct 21, 2024

Pakistan Cabinet Approves Controversial Constitutional Amendment Bill

  • The Pakistan Cabinet approved the proposed draft of the controversial 26th Constitutional Amendment during a meeting chaired by Prime Minister Shehbaz Sharif after seeking consensus from the coalition partners.
  • The coalition government tabled the proposed judicial reforms bill in the Senate and the National Assembly on October 20.
  • Ahead of the cabinet meeting, Prime Minister Shehbaz met with President Asif Ali Zardari for detailed discussions on the proposed constitutional amendment, during which the president was briefed and consulted.

Indonesia Leader Sworn in with Largest Cabinet in Decades

  • Indonesia's former Defence Minister, Prabowo Subianto took oath as the eighth President of Indonesia along with Gibran Rakabuming, son of former President Joko Widodo who was elected Vice President of the country.
  • Dignitaries from 33 countries, including India were present at the swearing-in ceremony.
  • Subianto, was the Defence Minister in former President Widodo's government, brings with him the experience of serving both the political and military scene of the country.

Oct 20, 2024

India and South Korea Set to Join FTSE Russell EMGB Index in 2025

  • Global index provider FTSE Russell announced that India's sovereign bonds will be included in its Emerging Markets Government Bond Index (EMGBI) starting September 2025. This follows similar inclusions by JP Morgan and Bloomberg Index Services, which could potentially attract billions of dollars into India's local bond market.
  • Additionally, South Korean government bonds are set to be added to the FTSE World Government Bond Index (WGBI) in November 2025 after spending two years on the watch list.

Kenya President Ruto Chooses Interior Minister Kithure Kindiki as Deputy President after Gachagua...

  • Kenya's President William Ruto nominated Interior Minister Kithure Kindiki as his new deputy, hours after the Senate voted to impeach the last man in the job, Rigathi Gachagua.
  • Ruto's nomination of a close ally, who still needs to be approved by parliament, came after a period of political turmoil, mass protests and the first removal of a Kenyan deputy president by impeachment.

Oct 19, 2024

FATF Changes Grey Listing Criteria to Focus on Nations Posing Greater Risk

  • The Financial Action Task Force (FATF) introduced significant changes to its criteria for placing countries on its grey list, aiming to relieve the burden on least developed countries (LDCs) while targeting nations that pose greater risks to the international financial system.
  • The changes prioritise active reviews of countries that meet specific risk criteria, focusing on FATF Members.
  • Countries on the World Bank's High-Income Countries list (excluding those with only two or fewer banks in the financial sector).
  • Countries with financial sector assets above USD 10 billion
  • Least developed countries will not be prioritised unless they pose significant risks related to money laundering or terrorist financing.

Ex-RAW Official Vikas Yadav Wanted by FBI in Plot to Murder Khalistani Terrorist Gurpatwant Singh...

  • The US Justice Department charged former Indian intelligence officer Vikash Yadav with orchestrating a plot to assassinate Gurpatwant Singh Pannun, a Khalistani terrorist residing in New York. Yadav, along with co-conspirator Nikhil Gupta, hired an individual to execute the killing for $100,000 in 2023, but the assassin turned out to be an FBI informant.
  • The plan was linked to tensions following the murder of Hardeep Singh Nijjar, another Khalistani terrorist, in Canada. The plot was postponed to avoid disrupting Prime Minister Modi's visit to the US. The Indian government has confirmed Yadav is no longer employed by them, while Gupta was extradited to the US and pleaded not guilty.

Oct 18, 2024

Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) 2024

  • The Government of the Philippines partnered with the United Nations Office for Disaster Risk Reduction (UNDRR) and hosted the Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) from October 14 to 18, 2024 at the Philippine International Convention Center in Manila. The APMCDRR is the main platform in Asia and the Pacific to monitor, review and enhance cooperation for the implementation of the Sendai Framework for Disaster Risk Reduction 2015-2030 at the regional level.
  • The conference brought together governments, intergovernmental, international, national and civil society organizations, the private sector, science, academia and stakeholder groups to accelerate progress in reducing disaster risk.
  • As the first regional platform since the adoption of the Political Declaration of the Sendai Framework Midterm Review, the APMCDRR 2024 was held under the working theme "Surge to 2030: Enhancing ambition in Asia-Pacific to accelerate disaster risk reduction".

The first ASEAN-India Track 1 Cyber Policy Dialogue was held in Singapore.

  • A key ASEAN-India policy dialogue was held in Singapore during which both sides exchanged views on cyber threat, national cyber policies, and the recent developments in the ICT domain at the United Nations.
  • The First ASEAN-India Track 1 Cyber Policy Dialogue explored cooperation in capacity building and training to identify specific areas of activities.
  • The dialogue was co-chaired by Amit A Shukla, who is Joint Secretary in the Cyber Diplomacy Division of the Ministry of External Affairs, and Jeffrey Ian Dy, the Undersecretary for Infrastructure Management, Cyber Security, and Upskilling, Department of Information and Communications Technology of the Philippines, the Philippines was India's Country Coordinator for ASEAN-India dialogue relations.

Oct 17, 2024

Speaker Birla Led Indian Delegation at Inter-Parliamentary Union Assembly in Geneva

  • Lok Sabha Speaker Om Birla led a parliamentary delegation to the 149th Inter-Parliamentary Union Assembly held in Geneva. Besides Birla, Rajya Sabha Deputy Chair Harivansh and some members from both Houses of Parliament attended the event.
  • Birla addressed the Assembly on the theme 'harnessing science, technology and innovation for a more peaceful and sustainable future.'
  • The Lok Sabha Speaker also participated in the meetings of IPU's Governing Council, the highest decision-making body of the organisation.
  • The Indian delegation also took part in the meetings of its Executive Committee, the four Standing Committees and working sessions during the conference.

Abu Dhabi Crowned World's Richest City in Sovereign Wealth Funds

  • As of October 2024, Abu Dhabi was recognised as the richest city globally regarding sovereign wealth funds, boasting an impressive $1.7 trillion in capital. This significant achievement highlights the city's financial prowess and strategic investments.
  • Following Abu Dhabi, other prominent cities include Oslo, which is home to the world's largest sovereign wealth fund, the Norwegian Government Pension Fund Global (NBIM). Other notable cities in this ranking are Beijing, Singapore, Riyadh, and Hong Kong. Collectively, these six cities manage approximately two-thirds of the total assets held by sovereign wealth funds worldwide.
  • Sovereign Wealth Funds (SWFs) are state-owned investment funds or entities that manage a country's reserves for various purposes, including stabilisation of the economy, saving for future generations, and funding social programs.
  • The primary goals of SWFs include achieving long-term capital appreciation, diversification of national revenue sources, and stabilisation of the national economy against market fluctuations.

Azeema Takes Charge as Maldives Ambassador to India

  • A week after Maldivian President Mohamed Muizzu's first official visit to India following his election last year (2023), which was marked by an "India out" policy, senior diplomat Aishath Azeema was named as the Maldives' ambassador to India, replacing Ibrahim Shaheeb. This move signals the island nation's intent to restore and strengthen ties with one of its closest bilateral partners.
  • Azeema has served as the Ambassador to China from June 2019 to September 2023.
  • Previously, she has held other key roles, including Deputy Ambassador to the UK and various senior positions within the Foreign Ministry, such as Additional Secretary and Joint Secretary.
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