General Awareness

INTERNATIONAL AFFAIRS - February 2017

Feb 2017

Dec 19, 2024

Shankar Sharma Reappointed as Nepal's Ambassador to India

Nepal's President, Ramchandra Paudel, reappointed Shankar Prasad Sharma as the Resident Ambassador of Nepal to India. Alongside this, Netra Prasad Timsina was named as the Resident Ambassador of Nepal to Malaysia. These appointments were made under Article 282 (1) of Nepal's Constitution, following recommendations from the Council of Ministers.
Sharma, a distinguished economist and diplomat, previously served as Nepal's Ambassador to the United States from 2009 to 2014 and as Vice-Chairman of the National Planning Commission between 2002 and 2006.
His earlier tenure as Ambassador to India lasted from March 2022 to July 2024, marking his return to a pivotal diplomatic role.

Independent TD Verona Murphy is Ireland's First Female Speaker

Verona Murphy became the first female speaker of the Irish parliament as part of attempts to form a coalition government.
Murphy, an independent TD for Wexford, defeated two Fianna Fáil candidates and one from Sinn Féin.
Her election was the first action taken by the new Dáil, which met for the first time.

Dec 17, 2024

UK Joins Indo-Pacific Bloc: A Post-Brexit Trade Milestone

The United Kingdom officially became the first European nation to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This significant move, a result of the UK's post-Brexit strategy, aims to boost the country's economy by providing new business opportunities and trade benefits across the Indo-Pacific region. The UK's entry into the bloc was formalised after the ratification of the accession treaty by most CPTPP members, with several more expected to follow.
The CPTPP is an economic partnership that originally started with 11 members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. After the US withdrawal from the Trans-Pacific Partnership (TPP) in 2016, the remaining countries established the CPTPP, reducing trade barriers on a wide range of goods and services. The bloc accounts for around 15% of global GDP and includes some of the fastest-growing markets globally.

Dec 16, 2024

ADB Approves $500 Million Loan for India's Sustainable Infrastructure

The Asian Development Bank (ADB) has recently approved a substantial loan aimed at boosting India's economic growth through sustainable infrastructure. This initiative targets critical sectors requiring investment and aims to promote eco-friendly practices within infrastructure development.
ADB has sanctioned a loan of $500 million to the India Infrastructure Finance Company Limited (IIFCL). This funding will be dedicated to enhancing long-term capital availability for various sustainable infrastructure projects across India.
The loan will support projects in key sectors including transportation, energy, urban development, education, and healthcare. These sectors have been identified as lacking adequate funding, making this financial support crucial for their development.
The objective of the loan is to improve IIFCL's capacity to incorporate green practices in infrastructure projects. This will involve establishing a dedicated sustainability unit within IIFCL to oversee the implementation of eco-friendly initiatives.

3rd India-UK Financial Markets Dialogue

The Dialogue was led by senior officials from the Indian Ministry of Finance and HM Treasury, with participation from Indian and UK regulatory agencies, including the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), International Financial Services Centre Authority (IFSCA), Insurance Regulatory and Development Authority of India (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA), the Bank of England (BoE) and the Financial Conduct Authority (FCA).
The Dialogue opened with reflections on developments since the last meeting in April 2023, including the opportunity presented by India's intention to release a financial sector vision and strategy and the UK's commitment to publishing a financial services growth and competitiveness strategy. Both sides agreed to work to maximise synergies.
Delegates from India and the UK shared perspectives on priorities and ongoing reforms within their respective jurisdictions. The Dialogue focused on collaboration in evolving fields of financial regulation, noting the areas of mutual interest in both markets for increasing bilateral trade and investment between the financial sectors.

India and Portugal Strengthen Bilateral Ties

On 13^th December, 2024, External Affairs Minister Dr. S. Jaishankar held delegation-level talks with Portugal's Foreign Minister Paulo Rangel in New Delhi during the latter's four-day official visit to India.
Discussions covered trade, investment, defence, science and technology, tourism, culture, and people-to-people ties.
Both sides emphasised the growing potential for cooperation in IT, startups, renewable energy, green hydrogen, and mobility of skilled professionals.
The leaders exchanged views on global topics such as West Asia, Ukraine, and the Indo-Pacific, while reaffirming cooperation in multilateral fora, including the United Nations.
Both countries will celebrate the 50^th anniversary of diplomatic ties in 2025, agreeing to commemorate the milestone in a meaningful way.
The visit builds on recent interactions, including the meeting between Prime Ministers Narendra Modi and Luis Montenegro during the G20 Summit in Rio, Brazil.

Dec 15, 2024

Elon Musk Becomes First Person in History with $400 Billion Net Worth

SpaceX and Tesla CEO, Elon Musk, became the first person in history to reach $400 billion in net worth, after a recent insider share sale as well as the recent US elections results.
According to the Bloomberg Billionaires Index, an inside share sale of his company SpaceX boosted the business mogul's net worth by approximately $50 billion, bringing his total net worth to $439.2 billion.

Dec 12, 2024

IPBES UN Biodiversity Conference

The 11th meeting of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) is being held in Namibia from December 10 to 16, 2024. Over 850 scientists and representatives from more than 150 countries are in attendance, aiming to address the global biodiversity crisis.
Delegates will discuss the next Global Assessment of Biodiversity and Ecosystem Services. This assessment follows a 2019 report that indicated a million species face extinction risk. Pohamba Shifeta, Namibia's Minister of Environment, calls for increased international cooperation. He emphasises the importance of involving local communities in conservation. Recent discussions suggested five new topics for future IPBES assessments.

Mohammed al-Bashir Interim Prime Minister of Syria

The Syrian conflict marked a new phase with the appointment of Mohammed al-Bashir as the caretaker Prime Minister of Syria. Al-Bashir, previously the head of the Syrian Salvation Government (SSG) in Idlib province, has been tasked with leading the transitional government following the fall of President Bashar al-Assad. His role is crucial as Syria navigates the aftermath of the 12-day lightning offensive that toppled the Assad regime, ending more than five decades of Assad family rule.

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