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INTERNATIONAL AFFAIRS - January 2018

Jan 2018

Oct 29, 2024

Shaktikanta Das Earns A+ in Central Bank Report Card 2024 (29)

  • Reserve Bank of India (RBI) Governor Shaktikanta Das was awarded an A+ grade in the Central Bank Report Cards 2024, marking his second consecutive year of recognition. This accolade was presented by Global Finance during an event in Washington, D.C. The grades, ranging from "A+" to "F," assess central banks on their effectiveness in critical areas such as inflation control, economic growth targets, currency stability, and interest rate management.
  • Since 1994, Global Finance has published the Central Bank Report Cards annually.
  • The report grades central bank governors from nearly 100 key countries, territories, and regions, including the European Union and various central banks in the Caribbean and Africa.
  • Global Finance was established in 1987, making it a reputable source in the field of international finance.

Oct 28, 2024

Japan Gets Hung Parliament after Polls, PM Ishiba's coalition loses majority

  • The make-up of Japan's future government was in flux after voters punished Prime Minister Shigeru Ishiba's ruling coalition, leaving no party with a clear mandate to lead the world's fourth-largest economy.
  • Ishiba's Liberal Democratic Party (LDP) and its junior coalition partner Komeito took 215 seats in the lower house of parliament, down from 279 seats, as voters punished the incumbents over a funding scandal and a cost-of-living crunch. Two cabinet ministers and Komeito's leader, Keiichi Ishii, lost their seats.
  • The biggest winner of the night, the main opposition Constitutional Democratic Party of Japan (CDPJ), had 148 seats, up from 98 previously, but also still well short of the 233 majority.
  • As mandated by the constitution, the parties now have 30 days to figure out a grouping that can govern, and there remains uncertainty over how long Ishiba - who became premier less than a month ago - can survive after the drubbing. Smaller parties also made gains and their role in negotiations could prove key.

Oct 27, 2024

Singapore Rolls Out Passport-less Immigration Clearance at Changi Airport

  • Singapore rolled out passport-less immigration clearance across all four terminals at Changi Airport.
  • Under the initiative, arriving and departing Singapore residents, which include Singapore citizens, permanent residents and long-term pass holders, can clear immigration solely by using their facial and iris biometrics. However, children below the age of six years will not be able to use the automated lanes for immigration clearance.
  • This initiative has reduced the average clearance time per traveller by 60 per cent, from 25 seconds to 10 seconds.

Oct 26, 2024

Austria Gets First Far-right Parliament President

  • Austrian lawmakers elected for the first time a far-right politician as parliament President despite the Jewish community criticising the nominee for having paid hommage to Nazi criminals.
  • The far-right Freedom Party (FPOe) won national polls for the first time last month (September), gaining almost a third of the votes, though it has been unable to find partners to form a government.
  • But as the strongest party, it nominated lawmaker Walter Rosenkranz a lawyer and a former presidential candidate, as the parliament's President.
  • Rosenkranz, who has been widely criticised for being a member of a far-right student fraternity known for its strident pan-German nationalism, was elected in a secret ballot.

Oct 25, 2024

2024 BRICS Summit: Expanding Cooperation and New Milestones

  • The 2024 BRICS Summit held in Kazan, Russia, from October 22-24, the sixteenth annual BRICS summit, marked a significant turning point for the group as Egypt, Ethiopia, Iran, and the UAE joined its ranks following their inclusion at the 2023 summit. The event centred around the theme, 'Strengthening Multilateralism for Fair Global Development and Security.' The summit witnessed the adoption of the BRICS Kazan Declaration, endorsing UN reforms and investigating cross-border financial solutions to reduce reliance on the US dollar.
  • Leaders from several nations, including South Africa, China, India, and UAE, attended, with Brazilian President Lula da Silva participating online due to health reasons. Other countries such as Armenia, Belarus, and Uzbekistan also sent delegates, contributing to the growing influence of BRICS on global geopolitics.
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