Russia Defaults on Foreign-currency Sovereign Debt for 1st Time since 1918
Russia is believed to have defaulted on its debt for the first time since 1998 after missing a key deadline.
Russia has the money to make a $100m payment, which was due June 26, but sanctions made it impossible to get the sum to international creditors.
The country was determined to avoid the default, which is a major blow to the nation's prestige.
Kremlin spokesperson Dmitry Peskov, said that the statements of a default were absolutely unjustified.
He added that an intermediary bank had withheld the money and that the reserves were blocked "unlawfully".
Buhari Appoints Replacement Chief Justice
Nigeria's President Muhammadu Buhari sworn in the most senior judge at the country's Supreme Court – Justice Olukayode Ariwoola – as the acting Chief Justice of Nigeria.
This followed the resignation of Chief Justice Ibrahim Tanko Muhammad due to ill health, and amid allegations from fellow judges of corruption, nepotism and neglect of welfare.
He is expected to hold the post until the President appoints a permanent Chief Justice which needs the approval of the Nigerian senate.
The Chief Justice is the head of the Supreme Court and the highest judicial officer in Nigeria.
G7 Leaders Unveil $600-bn Plan to Rival China's BRI in Developing Nations
US President Joe Biden and other G7 leaders unveiled ambitious plans to mobilise USD 600 billion in funding by 2027 to deliver transparent and game-changing infrastructure projects in developing countries like India, in a move seen as a counter to China's Belt and Road Initiative.
The Partnership for Global Infrastructure and Investment (PGII) unveiled during the G7 Summit relaunches a scheme unveiled at the G7 talks in England in 2021.
Jun 27, 2022
'Save our Ocean, Protect our Future': UN Ocean Conference Begins
United Nations Ocean Conference started in Lisbon, Portugal from June 27-July 1 and will be co-hosted by the Governments of Kenya and Portugal.
The Ocean Conference comes at a critical time as the world is seeking to address many of the deep-rooted problems of our societies laid bare by the COVID-19 pandemic. These problems require major structural transformations and common shared solutions that are anchored in the Sustainable Development Goals (SDGs).
To mobilise action, the Conference will seek to propel much needed science-based innovative solutions aimed at starting a new chapter of global ocean action.
Bangladesh PM Hasina Inaugurates Padma Bridge
Bangladesh Prime Minister Sheikh Hasina inaugurated the country's new landmark multipurpose 'Padma Bridge'.
This is the longest bridge in Bangladesh that significantly reduces the distance between the capital city of Dhaka to the Mongla sea port, which is important for regional and international trade.
EU Awards Ukraine and Moldova Candidate Status
Ukraine and Moldova were both granted EU candidate status, President of the European Council Charles Michel announced.
Ukraine applied days after the Russian invasion in February, and the process moved at a record speed.
Its President, Volodymyr Zelensky, hailed the decision.
Candidate status is the first official step towards EU membership. But it can take many years to join and there's no guarantee of success.
Landmark Gun Safety Bill Gets US Senate Nod
A bipartisan package of modest gun safety measures passed the US Senate even as the Supreme Court broadly expanded gun rights by ruling Americans have a constitutional right to carry handguns in public for self-defense.
The landmark court ruling and Senate action on gun safety illustrate the deep divide over firearms in the United States, weeks after mass shootings in Uvalde, Texas, and Buffalo, New York, killed more than 30 people, including 19 children.
The Senate bill, approved in a 65-33 vote, was the first significant gun control legislation to pass in three decades, in a country with the highest gun ownership per capita in the world and the highest number of mass shootings annually among wealthy nations.
Jun 26, 2022
Indonesia to Start Building New Capital City in August
Indonesia will start construction of government buildings at its new capital in August, as President Joko Widodo pushes ahead with his $ 34 billion ambition to build the city from scratch.
The Minister of Public Works and Housing Basuki Hadimuljono told Jokowi as the President visited the site where the state palace would be built. The government will also start developing infrastructure at Nusantara, as the capital will be known, including water systems, sanitation and toll roads.
Indonesia plans to move its capital to East Kalimantan, from Jakarta, to bring more Wealth and development outside of the wealthiest island of Java. Nusantara is being planned as an environmentally friendly city that will use entirely renewable energy, despite the critique that its construction could threaten one of the world's oldest rainforests.
Jun 25, 2022
India Re-establishes Diplomatic Presence in Kabul
India resumed its diplomatic presence in Kabul as it deployed a team in its embassy in the Afghan capital, over 10 months after it pulled out its officials from the mission following the Taliban's capture of power. The Ministry of External Affairs (MEA), in a statement, said an Indian technical team has reached Kabul and was deployed in the embassy there.
The reopening of the embassy came three weeks after an Indian team led by JP Singh, MEA's point person for Pakistan, Afghanistan and Iran, visited Kabul and met acting Foreign Minister Mawlawi Amir Khan Muttaqi and some other members of the Taliban dispensation.
Jun 24, 2022
Commonwealth Heads of Government Meet; S. Jaishankar Leads Indian Delegation
External Affairs Minister S. Jaishankar is on a four-day visit to Kigali in Rwanda from June 22, leading the Indian delegation in the 26th Commonwealth Heads of Government Meeting (CHOGM). Decisions taken at CHOGM guide the work programme of the Commonwealth Secretariat. Leaders of Commonwealth countries meet every two years for the CHOGM but it has been postponed twice due to Covid-19 pandemic.
The theme of this year's summit is – 'Delivering a Common Future: Connecting, Innovating, Transforming'.
The Commonwealth provides an important platform to deepen India's engagement with Commonwealth members, in particular the Small States and Small Island Developing States. India is also one of the largest contributors to the Commonwealth and has assisted the organisation with technical assistance and capacity building.
The Commonwealth is an association of 54 countries in Africa, Asia, the Americas, Europe and the Pacific. Together they are home to one-third of the world's population and the association includes both advanced economies and developing countries.