General Awareness

INTERNATIONAL AFFAIRS - March 2018

Mar 2018

Mar 30, 2023

Saudi Arabia Joind Shanghai Cooperation Organization

Saudi Arabia's cabinet approved a decision to join the Shanghai Cooperation Organization, as Riyadh builds a long-term partnership with China despite U.S. security concerns.
The SCO is governed by the Heads of State Council (HSC), its supreme decision-making body, which meets once a year.
Russian and Chinese are the official working languages of the SCO.
The SCO currently comprises of eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan
Iran signed documents for full membership in 2022.
Saudi Arabia approved a memorandum on granting the kingdom the status of a dialogue partner in the Shanghai Cooperation Organization (SCO).
The SCO is a political and security union of countries spanning much of Eurasia, including China, India and Russia.
Formed in 2001 by Russia, China and former Soviet states in Central Asia, the body has been expanded to include India and Pakistan, with a view to playing a bigger role as counterweight to Western influence in the region.

Sergio Ermotti Returns as UBS CEO

UBS Group AG (UBSG.S) rehired Sergio Ermotti as CEO to steer its massive takeover of neighbour Credit Suisse (CSGN.S) - a surprise move to take advantage of the Swiss banker's experience rebuilding the bank after the global financial crisis.
The trader turned corporate problem fixer faces the tough challenge of laying off thousands of staff, cutting back Credit Suisse's investment bank and reassuring the world's wealthy that UBS remains a safe harbour for their cash.
Ermotti, who was chief executive of UBS from 2011 to 2020 and is now chairman of Swiss Re (SRENH.S), will take the helm from April 5. He is credited with executing UBS's turnaround after a series of scandals and losses nearly caused the bank's implosion.

Indian-origin Sikh Woman Becomes Connecticut's First Asian Assistant Police Chief

Lt. Manmeet Colon, who is of Indian origin and a Sikh woman officer, took up the position of assistant police chief in the state of Connecticut, becoming the first-ever person of Asian descent to hold the position. She has been a member of the New Haven Police Department (NHPD) for 15 years and was appointed as the city's third assistant police chief in an official ceremony.
The ceremony marked "another glass ceiling being broken," Board of Police Commissioners Chair Evelise Ribeiro said, noting that Colon, a native of Mumbai, is the department's second-ever female assistant chief of colour and its first Indian assistant chief.

Mar 29, 2023

EU Countries Approve 2035 Phase-out of CO2-emitting Cars

European Union countries gave final approval to a landmark law to end sales of new CO2-emitting cars in 2035, after Germany won an exemption for cars running on e-fuels.
The approval from EU countries' Energy Ministers means Europe's main climate policy for cars can now enter into force, after weeks of delay caused by last-minute opposition from Germany.
The EU law will require all new cars sold to have zero CO2 emissions from 2035, and 55% lower CO2 emissions from 2030, versus 2021 levels. The targets are designed to drive the rapid decarbonisation of new car fleets in Europe.

Greek PM Calls General Election in May

Greece's centre-right PM Kyriakos Mitsotakis called general election on May 21 as his party's long-standing lead in opinion polls declined in the aftermath of the country's worst train disaster. A February 28, 2023 collision between two trains left 57 dead. The disaster stirred public anger, cutting the conservative New Democracy party's support by a half-point to 4 points over Syriza party.

ADB, Maldives Sign $41mn Financing Package to Support SMEs, Tourism

The Asian Development Bank (ADB) signed a $41 million financing package with the Bank of Maldives (BML) to support locally owned small and medium-sized enterprises (SMEs) and tourism.
As the sole mandated lead arranger and bookrunner, the Manila-based ADB arranged, structured, and syndicated the entire financing package, comprising a loan of up to $13 million from the ADB's ordinary capital resources, a parallel loan of up to $13 million from the Japan International Cooperation Agency, and a parallel loan of up to $5 million from the Development Bank of Austria.
To improve development impact and to address bankability issues relating to blue economy transactions in Maldives, the ADB said it blended the project's debt financing with a concessional loan of up to $9 million from the Canadian Climate Fund for the Private Sector in Asia II (CFPS II) and a grant of up to $1 million from the ADB's Asian Development Fund (ADF)-Private Sector Window (PSW).

Mar 28, 2023

Hungary Parliament Backs Finland's NATO Accession

Hungary's parliament approved a bill to allow Finland to join NATO once its application has been ratified by all 30 members of the alliance, ending months of foot-dragging by the ruling Fidesz party on the matter.
Finland and Sweden had asked to join the trans-Atlantic military alliance last year (2022) in response to Russia's invasion of Ukraine. But the process was held up by Turkey and Hungary.
Although Finland's bid was approved, the Swedish bill is still stranded in the Hungarian parliament.

Saudi National Bank Chair Resigns after Credit Suisse Buyout

The chairman of Saudi National Bank, which was the main shareholder of Credit Suisse before its buyout, resigned.
The Saudi bank's board of directors accepted the resignation of Ammar AlKhudairy due to personal reasons.
Saeed Mohammed Al Ghamdi, who had been serving as CEO, will replace AlKhudairy as chair.
Talal Ahmed Al Khereiji was appointed acting CEO.

Humza Yousaf Wins Contest to Become Scotland's New Leader

Humza Yousaf, a South Asian-origin politician, was picked to replace Nicola Sturgeon as head of the Scottish National Party (SNP). Yousaf netted 52 per cent of the final votes of SNP members.
Yousaf defeated rivals Kate Forbes and Ash Regan in a leadership contest that exposed deep divisions within the party.
Yousaf is the first Muslim to lead a major UK party.
He is set to be confirmed as the first ethnic minority leader of a devolved government.

Mar 27, 2023

Former Brazilian President Dilma Rousseff Elected as New President of NDB

Former Brazilian President Dilma Rousseff was unanimously elected as the head of New Development Bank (NDB), a multilateral financial institution set up by the five BRICS (Brazil, Russia, India, China, South Africa) countries, replacing Marcus Troyjo, who is also from Brazil.
The economist, Dilma Rousseff, served as the President of Federative Republic of Brazil between January 2011 to August 2016. Rousseff was elected the President of Brazil for two consecutive terms.

Honduras Establishes Diplomatic Ties with China in Blow to Taiwan

China and Honduras began formal diplomatic relations, with Taiwan accusing Beijing of coercion and intimidation to lure away its few remaining allies.
China's announcement of the move came shortly after Tegucigalpa said that it had officially severed ties with Taipei.
The two Governments decided to recognise each other and establish diplomatic relations at the ambassadorial level, effective immediately.
The switch cuts to 13 the number of countries that still diplomatically recognise Taiwan, which has lost several Latin American allies in recent years.

Peace Treaty between Armenia and Azerbaijan Based on Joint Official Statements

Armenian Prime Minister Nikol Pashinyan announced that there will be a peace treaty between Armenia and Azerbaijan based on joint official statements adopted at the highest level. Armenia and Azerbaijan, both ex-Soviet states, have been engaged in two wars since their independence.

UAE Food Bank Launches Initiative to Eradicate Food Waste

The UAE Food Bank, in collaboration with various partners, launched an initiative to distribute three million meals and food parcels to disadvantaged individuals and families during Ramadan. The campaign was initiated on the directives of Sheikha Hind bint Maktoum bin Juma Al Maktoum, wife of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Chairperson of the Board of Trustees of UAE Food Bank.
In addition to distributing meals, the UAE Food Bank aims to raise public awareness regarding the crucial goal of achieving zero food waste. The organisation has partnered with Ne'ma -the national initiative to reduce food loss and wastage, to enhance community awareness, education, and empowerment in making better decisions regarding food consumption. The project also aims to promote sustainable practices that demonstrate social responsibility and optimum food management while reducing food loss.

Mar 26, 2023

Philip Green Named as Australia's Next High Commissioner in India

Philip Green, currently serving as Australia's ambassador in Berlin, was named as the next High Commissioner to India. The diplomat is posted in Germany since 2020.
Green was posted to Germany after missing out on his first preference, New Delhi, which was instead given to former New South Wales premier Barry O'Farrell.
Barry O'Farrell will remain as the ambassador till June to facilitate the smooth sailing of the Quad summit scheduled for the last week of May.
Before Berlin, Philip Green served as head of the Australian mission in Johannesburg, Nairobi and Singapore.

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