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INTERNATIONAL AFFAIRS - March 2017

Mar 2017

Feb 29, 2024

World Gold Council Appoints De Beers' Sachin Jain as Chief Executive Officer

  • The World Gold Council (WGC), representing global gold miners, named Sachin Jain as its new CEO for India. Jain's extensive experience, particularly in the jewellery market and strategic leadership, positions him well for this crucial role.
  • Jain joined WGC India from De Beers, where he served in various senior capacities over the past 13 years. Notably, as Managing Director of De Beers India, he spearheaded the De Beers Forevermark business in India and West Asia. His tenure at De Beers equipped him with a deep understanding of the Indian consumer psyche and jewelry market dynamics.
  • Prior to his stint at De Beers, Jain held significant roles at renowned companies such as Lladro, Swatch Group, and Benetton. His diverse experience spans over two decades, reflecting his versatile skill set and strategic acumen.

India's Ranks 42 in the Global Intellectual Property Index 2024

  • The US Chamber of Commerce unveiled the 12th edition of its International Intellectual Property (IP) Index, offering a comprehensive evaluation of the IP landscape across the globe. This year's (2024) index ranked 55 economies, assessing their IP frameworks' effectiveness in fostering innovation and creative industries. The United States retained its position at the pinnacle, followed closely by the United Kingdom and France, highlighting the critical role of robust IP systems in economic development.
  • India secured the 42nd position out of the 55 countries evaluated, with an overall score of 38.64 per cent. This placement underscores the ongoing challenges and opportunities for India in strengthening its IP framework to bolster innovation and economic growth. Despite the static position, the inclusion of India in the analysis signifies its importance in the global IP discourse.
  • Top 10 Economies for IP Rights are United States (95.48%), United Kingdom (94.12%), France (93.12%), Germany (92.46%), Sweden (92.12%), Japan (91.26%), Netherlands (91.24%), Ireland (89.38%), Spain (86.44%) and Switzerland (85.98%).

Feb 28, 2024

WTO Adopts New Plurilateral Agreement on Domestic Services Regulation

  • The World Trade Organisation (WTO) adopted an agreement on domestic services regulation that aims to lower trade costs to the tune of about $150 billion per year.
  • The services domestic regulation agreement entered into force at the 13th Ministerial Conference in Abu Dhabi.
  • As many as 72 countries, including major economies such as the United States (US), Canada, Japan, China, United Kingdom, and Switzerland are part of the plurilateral agreement. These countries represent more than 90 per cent of global services trade.
  • India, however, is not a part of the agreement and has been opposing the plurilateral pact.
  • India, in principle, has been against plurilateral pacts on platforms such as the WTO as it believes that it may dilute its multilateral trade framework.
  • Till now, countries such as India, and South Africa have been questioning the legality of the plurilateral agreements at the WTO on services regulation, investment facilitation, and e-commerce.

Palestinian PM Resigns Citing 'New Reality' of Gaza War

  • Palestinian Prime Minister Mohammad Shtayyeh announced the resignation of his government, which rules parts of the occupied West Bank, citing the need for change after the Israel-Hamas war in Gaza ends.
  • Shtayyeh submitted the resignation to the leader of the Ramallah-based Palestinian Authority, President Mahmud Abbas.
  • The United States and other powers called for a reformed Palestinian Authority to take charge of all Palestinian territories after the end of the war sparked by Hamas's October 7 attack.

Feb 27, 2024

Maryam Nawaz Becomes First Woman CM of Pakistan's Punjab Province

  • Senior PML-N leader Maryam Nawaz, the daughter of three-time former Prime Minister Nawaz Sharif became the first-ever woman Chief Minister of a province in Pakistan when she was elected to head the Punjab province, describing it as an honour for every woman in the country.
  • Maryam senior vice president of the Pakistan Muslim League-Nawaz (PML-N) party, won the chief ministerial elections amidst a walkout by lawmakers of former Prime Minister Imran Khan's party-backed Sunni Ittehad Council (SIC).
  • She defeated Rana Aftab of the PTI-backed SIC in the election, marking a significant political triumph in the politically crucial Punjab province.

UAE Removed from FATF Gray List

  • The Financial Action Task Force (FATF), a body that groups countries from the United States to China to tackle financial crime, removed the United Arab Emirates (UAE) from its 'grey list' of around two-dozen nations considered risky.
  • The Gulf country, a magnet for millionaires, bankers and hedge funds, was placed under closer scrutiny in 2022, when the FATF highlighted the risk of money laundering and terrorist financing involving banks, precious metals and stones as well as property.
  • The delisting is a coup for the one-time regional pearl and fish trading hub which is now one of the world's wealthiest nations after the discovery of oil in Abu Dhabi in the late 1950s.

Feb 26, 2024

Tuvalu Names Feleti Teo Prime Minister

  • Tuvalu announced former attorney general and fisheries official Feleti Teo as its new Prime Minister, after he was elected unopposed by lawmakers in the Pacific Islands nation. Former Prime Minister Kausea Natano lost his seat in the January 26 general election, which was closely watched by Taiwan, China, the US and Australia, amid a geopolitical tussle for influence in the South Pacific.
  • Teo received unanimous support from the 16 lawmakers.
  • Teo, who was educated in New Zealand and Australia, was Tuvalu's first attorney general and has decades of experience as a senior official in the fisheries industry - the region's biggest revenue earner.

GMBF Global Two-day Business Conclave Mahabiz 2024 in Dubai

  • The Gulf Maharashtra Business Forum (GMBF) Global hosted Mahabiz 2024, a two-day business conclave on February 24 and 25 in Dubai. With the theme 'Connect with Opportunities to Progress', the event aimed to bring together over 700 entrepreneurs and business leaders from India, the Middle East, Southeast Asia, and Africa to encourage collaboration and uncover new business prospects.

Mobile World Congress 2024

  • The Mobile World Congress 2024 (MWC 2024) is taking place in Barcelona, Spain, from February 26 to February 29, 2024. The MWC 2024 showcases a plethora of brands with exciting products and new phone launches.
  • The Mobile World Congress 2024 is being hosted by GSMA, the global association representing the interests of mobile network operators worldwide.
  • The main theme is 'Future First', with sub-themes including Humanising AI, 5G and Beyond, Connecting Everything, Manufacturing DX, Game Changers, and Our Digital DNA.

Geeta Batra Becomes First Woman from India to Lead World Bank's GEF Independent Evaluation Office

  • Geeta Batra, a distinguished Indian economist, was appointed as the Director of the Independent Evaluation Office (IEO) of the World Bank's Global Environment Facility (GEF). This appointment marked a significant milestone, as Batra became the first woman from a developing country to assume this prestigious role.
  • Geeta Batra brings a wealth of experience and expertise to her new position. Prior to this appointment, she served as the Chief Evaluator & Deputy Director for Evaluation at the GEF's IEO. Her career has been characterised by a deep commitment to environmental sustainability and development, with a focus on leveraging evaluation as a tool for improving the efficacy of environmental initiatives.

Feb 24, 2024

Philippines Becomes First Asian Country to Ratify ILO Convention to End Workplace Violence and Ha...

  • The Philippines achieved a significant milestone by becoming the first Asian country to ratify the Violence and Harassment Convention 2019 (No. 190) as announced by the International Labour Organization (ILO). The convention addresses workplace violence and harassment comprehensively, marking a crucial step towards ensuring safe and respectful work environments globally.
  • The Philippines deposited the instrument of ratification with ILO Deputy Director-General Celeste Drake, signifying its commitment to combating workplace violence and harassment.
  • By ratifying Convention No. 190, the Philippines joined 37 other nations in the world that have taken a stance against workplace violence and harassment.
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