Alexander Schallenberg took over as the chancellor of Austria, with the government seeking to move on from a corruption scandal.
The Foreign Minister was sworn in after his predecessor, Sebastian Kurz, quit over corruption allegations.
Mr. Kurz and nine others were placed under investigation after raids linked to his conservative People's Party (ÖVP).
The allegations last week took his coalition government to the brink of collapse after ÖVP's junior partner, the Greens, said that Mr. Kurz was no longer fit to be chancellor.
The Greens began talks with opposition parties, who were threatening to bring a vote of no confidence against the chancellor.
Greens leader and Vice Chancellor Werner Kogler welcomed Mr. Kurz's resignation and indicated he would be willing to work with Mr. Schallenberg.
Austrian President Alexander Van der Bellen formally swore in Mr. Schallenberg in a ceremony. The President presented Mr. Schallenberg as an experienced diplomat and a skilful political operator.
Global Multidimensional Poverty Index 2021
Global Multidimensional Poverty Index 2021 was released by United Nations Development Programme (UNDP) and Oxford Poverty & Human Development Initiative (OPHI).
This report examines the level and composition of multidimensional poverty across 109 countries covering 5.9 billion people.
It also takes into account several deprivations that people experience in their day to day lives such as poor health, inadequate education and poor standard of living.
As per report, 1.3 billion people are multidimensionally poor, of which around 644 million are children under age 18.
The Multidimensional Poverty Index (MPI) was launched by the UNDP and the OPHI in the year 2010. MPI uses three dimensions and ten indicators including:
Education: Years of schooling and child enrolment (1/6 weightage each)
Health: Child mortality and nutrition (1/6 weightage each)
Standard of living: Electricity, drinking water, flooring, sanitation, cooking fuel and assets (1/18 weightage each).
IMF Board Backs Georgieva after Review of Data-rigging Claims
The International Monetary Fund's executive board expressed its full confidence in Managing Director Kristalina Georgieva after reviewing allegations that she pressured World Bank staff to alter data to favor China.
But Treasury Secretary Janet Yellen put Ms. Georgieva on notice that she would closely monitor the IMF's follow-up and evaluates any new facts or findings, and called for proactive steps to reinforce data integrity and credibility at the IMF.
The Fund's 24-member board and Treasury issued separate statements after several meetings over Georgieva's actions as World Bank CEO that threw into question her continued leadership of the IMF. The 24-member board reached the decision after marathon meetings over the past week, where members debated the future of Ms. Georgieva, a Bulgarian economist and the first person from a developing country to head the fund. She welcomed the board's endorsement and said that she was pleased its members had agreed the allegations against her were unfounded.
Oct 10, 2021
IMF's Georgieva Wins some European Backing as Board Debates Her Future
As per reports, some European governments backed Kristalina Georgieva to remain International Monetary Fund managing director as the IMF board debated her alleged role in a World Bank data-rigging scandal.
France planned to voice support for Georgieva at the board meeting. Britain, Germany and Italy were also expected to back Georgieva.
US Holds First in-person Talks with Taliban since Afghanistan Withdrawal
US officials mett with senior Taliban officials for talks aimed at easing the evacuations of foreign citizens and at-risk Afghans from Afghanistan.
The focus of talks in Doha, Qatar, held Afghanistan's Taliban leaders to commitments that they would allow Americans and other foreign nationals to leave Afghanistan, along with Afghans who once worked for the US military or government and other Afghan allies.
Nepal PM Sher Bahadur Deuba Expands Cabinet
Nepal Prime Minister Sher Bahadur Deuba expanded his Cabinet by inducting 17 ministers and two ministers of state from the five-party ruling alliance, three months after he assumed office.
With this, the government's strength has now reached 25, including 22 ministers and three ministers of state.
Earlier, there were only six members in the Cabinet, including the Prime Minister and one state minister.
Prime Minister Deuba was unable to expand his Cabinet due to prolonged power sharing negotiations among the five-party ruling alliance. He himself was heading 17 ministries.
Ireland Joins Global Minimum Corporate Tax Deal
Ireland has agreed to join an international agreement establishing a minimum corporate tax of 15 per cent around the world, ditching the low-tax policy that has led companies like Google and Facebook to base their European operations in the country.
The Irish government, which initially rejected the agreement, decided to join the Organization for Economic Cooperation and Development's global minimum tax accord after compromises that would protect the country's economic interests.
Ireland's 12.5 per cent corporate tax rate has been a cornerstone of the country's economic policy since 2003.
Oct 09, 2021
India Slips 6 Ranks on Henley Passport Index 2021
India's rank has slipped by six places from last year to 90 on the Henley Passport Index, which lists the world's most travel-friendly passports.
The Henley Passport Index comes at a time when countries are easing travel rules for international visitors after almost two years since the onset of the Covid-19 pandemic.
The index ranks the passports of countries according to the number of destinations their holders can visit without a prior visa. The rankings are based on the analysis of data provided by the International Air Transport Association (IATA).
Japan and Singapore stood at the top of this year's list, with their passports holders allowed to travel visa-free to 192 countries, while South Korea and Germany share the second position. For the third consecutive year, Japan has secured the top position. Meanwhile, Afghanistan, Iraq, Syria, Pakistan, and Yemen are among the least powerful.
India, which held the 84th rank last year, fell down to the 90th position, with its passport holders allowed to travel visa-free to 58 countries.
Poland Will be in European Family of Nations
Polish Prime Minister Mateusz Morawiecki dismissed speculations of a "Polexit" and asserted that Poland wanted to stay in the European Union (EU). The development came a day after a landmark court ruling that experts said could lead to Poland's divorce from the EU like the United Kingdom's exit.
Morawiecki said that joining the bloc was one of the highlights of the last decades for Poland as well as the European Union.
The Polish top court ruled that some EU treaty articles were incompatible with Poland's Constitution and warned EU institutions not to act beyond the scope of their competencies by interfering with the country's judiciary.
Oct 07, 2021
Germany's Greens Meet Conservatives for Crunch Coalition Talks
Germany's Greens met Chancellor Angela Merkel's conservatives for talks to explore whether they and a smaller liberal party could form a new coalition government following last month's national election.
A close result in the election in September, when no party won an overall majority, has kicked off a round of coalition talks that could last months, with the conservatives and Social Democrats courting smaller kingmakers with the aim of securing power.
Unlike some other countries, where the President or Monarch invites parties to enter talks on forming a government, in Germany it is up to the parties themselves to find their own partners.
The centre-left Social Democrats (SPD), who narrowly won the election, were ready to move to three-way coalition talks with the Greens and business-friendly Free Democrats (FDP).
Romanian Government Falls after No-confidence Vote
Romanian Prime Minister Florin Citu of the governing National Liberal Party was ousted after a no-confidence motion in his government passed overwhelmingly, deepening an ongoing political crisis.
The motion censure was filed by the opposition Social Democrat Party (PSD) and supported by former coalition partner USR-Plus and the far-right AUR party. The motion passed with 281 votes; only 234 were needed.
The fall of the government caps a political crisis that began a month ago when Citu fired Justice Minister Stelian Ion of USR-Plus for not signing off on a regional development program. USR-Plus called the move an "abusive revocation" and quit the three-party cabinet.
President Klaus Iohannis will now consult with lawmakers on appointing a new Prime Minister, while Citu may remain at the government's helm as a caretaker for 45 days. Citu could be reappointed if lawmakers fail twice to agree on a new premier.
US Reveals Number of Nuclear Warheads
The US published the number of nuclear warheads the country stockpiles for the first time in four years, after former President Trump placed a blackout on the data. As of September 30, 2020, the military maintained 3,750 active and inactive nuclear warheads, down by 55 from a year earlier and by 72 from the same date in 2017. The figure was also the lowest level since the nuclear stockpile peaked at the height of the Cold War.
Oct 06, 2021
Son of Ousted Philippine Dictator Ferdinand Marcos to Seek Presidency
The son and namesake of the late Philippine dictator Ferdinand Marcos, who was toppled in a 1986 revolt, announced that he would seek the presidency in next year's elections in what activists say is an attempt to whitewash a dark period in the country's history marked by plunder and human rights atrocities.
Former senator Ferdinand Bongbong Marcos Jr. said that he would unite Filipinos to be able to overcome the coronavirus pandemic that has destroyed lives, battered the economy and brought widespread misery.
Marcos Jr. is the latest to express his intention to succeed President Rodrigo Duterte, an ally of the Marcoses who has been in the crosshairs of human rights groups himself. Marcos Jr. is one of at least eight politicians and celebrities who said they'll run for president or lower posts, including Vice President Leni Robredo, who leads the opposition.
Marcos Jr. narrowly lost to Robredo in the 2016 vice presidential race and then unsuccessfully contested alleged elections irregularities.
IFC Names Wendy Werner as India Country Head
The International Finance Corporation (IFC) announced the appointment of Wendy Werner as the new country head for India.
Werner filled the vacancy of her predecessor Jun Zhang, who retired after a long career with the corporation.
Based in New Delhi, she will focus on growth and diversification of the India portfolio, helping maximize IFC's impact in the region.
India is the largest client country globally for the World Bank Group's developmental lender with a commitment of USD 1.7 billion for the fiscal year ending June 2021, representing an increase of over 51 per cent from last year.
US and China Will Abide by Taiwan Agreement
US President Joe Biden and his Chinese counterpart Xi Jinping have agreed to abide by the 'Taiwan agreement'.
Mr. Biden appeared to be referring to Washington's longstanding 'one China' policy under which it recognises China rather than Taiwan.
However, this agreement also allows Washington to maintains a robust unofficial relationship with Tawian.
The announcement comes amid escalating tensions between Taiwan and Beijing.
Taiwan Defence Minister Fears Full Scale Chinese Invasion by 2025
Taiwan Defence Minister Chiu Kuo-cheng said that China will be capable of mounting a full scale invasion of the democratic island by 2025.
Over a four day period, Taiwan reported close to 150 Chinese air force aircraft entered its air defence zone, part of a pattern of what Taipei calls Beijing's continued harassment of the Chinese-claimed island.
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