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.
Oct 24, 2024
UK and Germany Sign Landmark Defence Agreement
Britain and Germany signed what the UK government is calling a landmark defence agreement aimed at boosting security, investment and jobs.
Under the agreement, German defence company Rheinmetall will open a new factory in the UK to manufacture barrels for artillery guns – supporting 400 jobs.
Both countries will work together to develop drones and a new long-range missile.
German maritime surveillance aircraft will also periodically fly patrols of the North Atlantic from RAF Lossiemouth in Scotland.
The UK already has a defence pact with France – the Lancaster House Treaty signed in 2010 by David Cameron and Nicholas Sarkozy – but this is the first with Germany.
Luong Cuong Vietnam's New President
Vietnam elected Luong Cuong, a military general, as its new President, the fourth official to fill the role in 18 months.
Cuong was elected by the National Assembly and replaced To Lam, who remained President even after he was formally appointed as the General Secretary of the ruling Communist Party in August.
The role of the General Secretary is the most powerful position in Vietnam while the presidency is largely ceremonial.
Cuong, who has served in the Vietnamese army for over four decades, has been a Politburo member since 2021.
His appointment took place after months of uncharacteristic tumult in Vietnam's politics and the death of former party general secretary Nguyen Phu Trong, who had dominated the country's leadership since 2011.
Oct 23, 2024
India, Pakistan Extend Sri Kartarpur Sahib Corridor Agreement by 5 Years
India and Pakistan decided to extend the validity of the agreement on the Sri Kartarpur Sahib Corridor by five years to ensure "uninterrupted" travel for Indian pilgrims to the holy Gurdwara in Pakistan.
The MEA noted that in response to ongoing requests from pilgrims regarding the $20 service charge imposed by Pakistan for each visitor, India has reiterated its appeal for Pakistan to waive any fees or charges for pilgrims.
The agreement, signed on October 24, 2019, was established to facilitate pilgrimages from India to Gurdwara Darbar Sahib Kartarpur in Narowal, Pakistan, via the Kartarpur Sahib Corridor.
Oct 21, 2024
Pakistan Cabinet Approves Controversial Constitutional Amendment Bill
The Pakistan Cabinet approved the proposed draft of the controversial 26th Constitutional Amendment during a meeting chaired by Prime Minister Shehbaz Sharif after seeking consensus from the coalition partners.
The coalition government tabled the proposed judicial reforms bill in the Senate and the National Assembly on October 20.
Ahead of the cabinet meeting, Prime Minister Shehbaz met with President Asif Ali Zardari for detailed discussions on the proposed constitutional amendment, during which the president was briefed and consulted.
Indonesia Leader Sworn in with Largest Cabinet in Decades
Indonesia's former Defence Minister, Prabowo Subianto took oath as the eighth President of Indonesia along with Gibran Rakabuming, son of former President Joko Widodo who was elected Vice President of the country.
Dignitaries from 33 countries, including India were present at the swearing-in ceremony.
Subianto, was the Defence Minister in former President Widodo's government, brings with him the experience of serving both the political and military scene of the country.
Oct 20, 2024
India and South Korea Set to Join FTSE Russell EMGB Index in 2025
Global index provider FTSE Russell announced that India's sovereign bonds will be included in its Emerging Markets Government Bond Index (EMGBI) starting September 2025. This follows similar inclusions by JP Morgan and Bloomberg Index Services, which could potentially attract billions of dollars into India's local bond market.
Additionally, South Korean government bonds are set to be added to the FTSE World Government Bond Index (WGBI) in November 2025 after spending two years on the watch list.
Kenya President Ruto Chooses Interior Minister Kithure Kindiki as Deputy President after Gachagua...
Kenya's President William Ruto nominated Interior Minister Kithure Kindiki as his new deputy, hours after the Senate voted to impeach the last man in the job, Rigathi Gachagua.
Ruto's nomination of a close ally, who still needs to be approved by parliament, came after a period of political turmoil, mass protests and the first removal of a Kenyan deputy president by impeachment.
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