General Awareness

INTERNATIONAL AFFAIRS - May 2017

May 2017

Jul 21, 2018

China and UAE Seal Economic Deals

China's President Xi Jinping held talks with top UAE leaders on ways of bolstering bilateral.

Mr. Xi met UAE Vice-President Sheikh Mohamed bin Rashed al-Maktoum and Crown Prince Sheikh Mohamed bin Zayed Al-Nahyan in Abu Dhabi.

They discussed "strengthening strategic bilateral ties as well as regional and international issues of mutual interest with the Chinese President.

Jul 20, 2018

Retaliatory Tariffs Hurting US

As per reports, the retaliatory tariffs being imposed by countries like India and China are having an adverse impact on US agricultural products.

The Trump administration's decision in March to impose tariffs on aluminium and steel imports has triggered a trade war with several countries.

Theresa May Wins Key Brexit Vote

British Prime Minister Theresa May narrowly survived another crunch Brexit vote in Parliament, as she struggles to unify her divided party around her strategy for leaving the European Union.

The Conservative government defeated an amendment introduced by its own backbench MPs to a future trade policy bill which would have kept Britain in a customs union with the EU if it fails to agree a free trade deal.

Lanka Awaits Report for India JV

The Sri Lankan government is awaiting a report from experts to finalise its joint venture with India, to run the loss-making Mattala Airport.

According to the proposed joint venture between the Airports Authority of India and the Airport & Aviation Services in Sri Lanka, India will own a 70% stake and pump in $225 million to revamp and run the airport, while the Sri Lankan side will invest the rest. As per the draft agreement, fine-tuned over three formal rounds of negotiations in Colombo, India will operate the airport on a 40-year lease.

Jul 19, 2018

Google Fined by EU

Google received a record €4.3 billion ($5 billion) anti-trust fine from the European Union (EU) and was ordered to change the way it puts search and web browser apps on Android mobile devices.

The penalty�" the same amount the Netherlands contributes to the EU budget every year�"is far higher than any other dished out by the US, Chinese or other antitrust authorities.

China trying to build an economic corridor to Myanmar

China and Myanmar are close to signing a deal on the establishment of a China-Myanmar Economic Corridor along the lines of the China-Pakistan Economic Corridor (CPEC). Once launched, the project will unleash a massive inflow of Chinese funds to Myanmar which can further weaken Indian influence over its eastern neighbour. The move will be based on a previous broad agreement on building basic infrastructure, enhancing telecommunication facilities and improving transport and agriculture in Myanmar.

The planned corridor would connect the Chinese province of Yunnan and three important economic centres in Myanmar. The corridor will also connect Yangon and the troubled state of Rakhine.

Jul 18, 2018

Goldman Sachs Names David Solomon as Boss

Investment bank Goldman Sachs has confirmed that its next chief executive will be David Solomon, currently its chief operating officer.
He will take over from Lloyd Blankfein, who is stepping down after 12 years in the post.

Limitations on Cargo Crossing into Gaza

Israel placed new restrictions on its only cargo crossing with the Gaza Strip in response to continued Hamas hostilities, even after it agreed to a cease-fire.
According to Defense Minister Avigdor Lieberman, Israel will cease transferring gas and fuel through the Kerem Shalom crossing until Sunday but will allow food and essential medication to cross. Commercial cargo was suspended last week.

Major Trade Deal between EU and Japan

Japan and the EU signed a sweeping free trade deal sending a clear message against protectionism, as Washington puts up barriers and threatens a trade war.
The deal signed in Tokyo is the largest ever negotiated by the EU and creates a massive free trade zone, eliminating tariffs for everything from Japanese cars to French cheese.

Eritrea Reopens Embassy in Ethiopia

Eritrea reopened its embassy in Ethiopia in further evidence of a rapid thaw between two countries that a week ago ended two decades of military stalemate over a border war.
The embassy has been reopened in the capital Addis Ababa in a brief ceremony.
Ethiopia, a landlocked country has the largest economy in East Africa.

Jul 17, 2018

U.S. Tariff Threat Challenged

China has filed a World Trade Organization (WTO) challenge to U.S. President Donald Trump's latest tariff threat, stepping up its diplomatic efforts to counter U.S. pressure in a spiralling technology dispute.

The Trump administration has criticised the WTO as unable to deal with the problems posed by China. But it might help Beijing rally support from governments that criticised Mr. Trump for going outside the WTO to impose tariffs on Chinese and other imports.

European Call for Iran Sanctions Waiver

As per media reports, Washington will not budge on its decision to impose fresh sanctions on corporations operating in Iran, despite a European request for exemption.

International companies active in Iran face the threat of US sanctions within weeks after Washington rebuffed a high-level European plea to exempt crucial industries to help keep a landmark nuclear deal with Tehran alive.

As per analysts, European firms that have rushed to invest in Iran after the lifting of sanctions over the past three years have the most to lose from the renewed sanctions.

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