General Awareness

INTERNATIONAL AFFAIRS - February 2017

Feb 2017

Dec 22, 2022

Israeli Prime Minister-designate Benjamin Netanyahu Secures a Deal to Form New Government

Israel's longest-serving Prime Minister, Benjamin Netanyahu secured a deal to form a new government after weeks of tough negotiations with far-right coalition partners. Netanyahu informed President Isaac Herzog that he managed to form a government. Minutes before a midnight deadline to form a coalition set by the Israel President.
The new government, which Netanyahu must now present within a week, will take office after a year that has seen the worst levels of violence in the West Bank in more than a decade.

IMF Approves New Program to Support Ukraine's Macroeconomic Stability

The IMF approved a new programme for Ukraine to support its macroeconomic and financial stability and catalyse donor financing.
The four-month Program Monitoring with Board Involvement does not directly provide financial assistance, but creates instruments for transitioning to a new, long-term upper-credit tranche programme of the IMF.
The programme is aimed at mobilising state budget revenues, strengthening the financial sector, and improving management transparency and effectiveness for state-owned enterprises.

UAE to Host World Trade Organisation Ministerial Conference 2024

The next World Trade Organization ministerial conference will be held in Abu Dhabi, United Arab Emirates in February 2024, the global trade watchdog confirmed. The UAE and Cameroon were both vying to host the event and came to an informal agreement for Abu Dhabi to host the first one and Cameroon to do the next.
For the UAE, hosting the meeting is part of its own push to position itself as a global hub for business amid growing competition in the Middle East. It has been rolling out bilateral trade deals with fast-growing markets since the pandemic. Next year the Gulf Arab state will host COP28, the UN's Climate Change conference.
Founded in 1995, the WTO is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. The WTO is run by its 164 members.
It is headquartered in Geneva, Switzerland
WTO is the only international organization that deals with the rules of trade between countries.
Its aim is to promote free trade, which is done through trade agreements that are discussed and signed by the member states.

Dec 21, 2022

Bank of England Unveils Design of Banknotes Featuring King Charles

The Bank of England unveiled the design of banknotes featuring King Charles III.
As per the central bank, the portrait of the King will appear on existing designs of all four polymer banknotes (5, 10, 20 and 50 pounds), with no other changes to the existing designs.
The King's image will appear on the front of the banknotes, as well as in cameo in the see-through security window.
The new notes are expected to enter circulation by mid-2024.
All polymer banknotes carrying a portrait of the late Queen Elizabeth II remain legal tender, and the public can continue to use these as normal.

World Comes Together to Land Historic Pact

In Montreal at the fifth Conference of the Parties (COP15) to the UN Convention on Biological Diversity, the world came together to land a historic deal to protect nature and biodiversity -- a major win for the planet, was the first reaction of Canadian Minister of Environment and Climate Change, Steven Guilbeault.
"The Kunming-Montreal Global Biodiversity Framework is a major win for our planet and for all of humanity, charting a new course away from the relentless destruction of habitats and species," said Guilbeault, as the historic deal was adopted by 196 countries under the UN Convention on Biological Diversity.
Just as Paris produced an agreement to keep global temperatures below 1.5 degrees Celsius, in Montreal an agreement that commits to the protection of 30 per cent of global land and water by 2030 was reached.

SRK Only Indian to Feature on British Magazine's List of 50 Greatest Actors

Bollywood superstar Shah Rukh Khan was the only Indian named in an international list of 50 greatest actors of all time by a prominent British magazine.
He was included in Empire magazine's list which also recognises Hollywood giants like Denzel Washington, Tom Hanks, Anthony Marlon Brando, Meryl Streep, Jack Nicholson and many others.
In the accompanying short profile, the magazine said Khan has a career that has now spanned four decades of "near unbroken hits, and a fanbase of pretty much billions".

South African President Ramaphosa Re-elected Leader of Ruling ANC Party

South African President Cyril Ramaphosa was re-elected as the leader of the ruling African National Congress party.
Mr. Ramaphosa beat his rival, former Health Minister Zweli Mkhize by 2,476 votes to 1,897 votes from a total of 4,386 votes cast by party delegates from across the country.
This win came as a welcome victory for Ramaphosa, who has been mired in a scandal and facing calls to step down as president of the country and to be replaced as the leader of the ANC.
Ramaphosa's victory paved the way for him to run for reelection to a second term as South Africa's president in the national elections in 2024.

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.

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