India-Maldives Ties Strengthened: RuPay Card Launch and Airport Upgrade
The recent inauguration of a new runway at Hanimadhoo International Airport and the launch of the RuPay card in the Maldives signify a pivotal moment in the evolving relationship between India and the Maldives. Conducted through a virtual ceremony, Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu marked these developments as essential steps to enhance economic ties and boost tourism cooperation.
The discussions preceding the launch focused on charting a new path for future collaboration, reinforcing the longstanding bonds built on trade and cultural exchanges.
The introduction of the RuPay card aims to facilitate cashless transactions for Indian tourists, enhancing convenience and reducing costs in the Maldives' tourism sector. This initiative is expected to strengthen economic cooperation between the two nations.
The new runway at Hanimadhoo International Airport is part of a broader airport redevelopment project funded by an Indian Line of Credit of USD 132 million. This project includes modern infrastructure upgrades, such as a new Air Traffic Control (ATC) tower, a hangar, cargo facilities, and a passenger terminal building.
Japanese Parliament Confirms Ishiba as New PM
Members of the ruling Liberal Democratic Party (LDP) used their majority to confirm Ishiba's appointment. The 67-year-old replaces outgoing leader Fumio Kishida.
Following the vote, Ishiba revealed his cabinet, comprising 19 ministers. As well as getting to grips with running the government, the new premier must quickly prepare for snap elections on October 27, which he called on Monday.
Ishiba's appointment comes after he secured on Friday a narrow victory in a contest to lead the LDP, which has been in power for much of the past 80 years.
India and Maldives Ink Five Pacts
India has extended significant financial aid to the Maldives by signing a $750 million currency swap agreement to ease the country's foreign exchange crisis. This includes a $400 million swap and an additional Rs. 3,000 crore ($357 million) under the SAARC Currency Swap Framework, available until 2027.
The agreement was sealed during a meeting between Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu, who is on a five-day visit to India. Both leaders discussed key economic and security collaborations, adopting a "vision statement" that reinforces their partnership.
Oct 07, 2024
Nepal, India, and Bangladesh Sign Historic Electricity Trade Agreement
Nepal, India, and Bangladesh entered into a significant tripartite agreement aimed at facilitating cross-border electricity trade, marking a notable step in regional energy cooperation. This agreement allows Nepal to export its surplus electricity to Bangladesh via India during the rainy season, specifically from June 15 to November 15 each year. In the initial phase, Nepal is set to export 40 MW of hydroelectricity, leveraging India's infrastructure for transmission. The agreed rate per unit of electricity is fixed at 6.4 cents, with Nepal expected to generate approximately USD 9.2 million annually from this trade.
The agreement was signed in Kathmandu by NEA Executive Director Kulman Ghising, NTPC Vidyut Byapar Nigam CEO Deino Naran, and Bangladesh Power Development Board Chairman Mohamad Rizwan Karim, with the presence of Nepal's Energy Minister Dipak Khadka and Bangladeshi counterpart Sayeda Rijwana Hasan.
This agreement not only strengthens energy ties among the three nations but also paves the way for further regional cooperation in energy sustainability and infrastructure development, highlighting the importance of collaboration in addressing energy needs and promoting economic growth in South Asia.
Singapore Ends over 180 Years of Horse Racing to Provide Land for New Homes
Over 180 years of horse racing in Singapore ended. The Singapore Turf Club hosted its final race on October 5 and now the track would be handed back to the government to provide land for new homes.
As per reports, the race track of more than 300 acres would be bulldozed for new public and private homes as Singapore is trying to accommodate a growing population that crossed six million this year.
Though the government's decision to end horse racing sent shockwaves through the riding and training community in Singapore, horse racing has already been on the decline in the country.
Oct 04, 2024
WETEX 2024 in Dubai
The 26th Water, Energy, Technology and Environment Exhibition (WETEX) 2024 was held at the Dubai World Trade Centre, featuring a strong Indian presence with 29 leading companies participating in the Indian pavilion. The event, organised by Dubai Electricity and Water Authority (DEWA), concluded on October 3, showcasing cutting-edge innovations in renewable energy, water treatment, and environmental technologies.
Sunjay Sudhir, Ambassador of India to the UAE, highlighted the significance of Indian participation at WETEX 2024. He emphasised that the companies in the Indian pavilion are demonstrating advanced technologies and sustainable projects that support the green economy and contribute to realizing the Sustainable Development Goals.
WETEX 2024 features 16 international pavilions from 14 countries, underscoring its global significance in promoting sustainable technologies and fostering international partnerships.
Britain Returns Chagos Islands to Mauritius, But Retains Diego Garcia Airbase
The UK agreed to hand over the Chagos Islands to Mauritius, ending years of bitter dispute over Britain's last African colony.
The agreement allows a right of return for Chagossians, who the UK expelled from their homes in the 1960s and 1970s, in what has been described as a crime against humanity and one of the most shameful episodes of post-war colonialism.
However, there is an exception for the key island of Diego Garcia, which is home to a joint UK-US military base, and which will remain under UK control. Plans for the base were the reason the UK severed the Chagos Islands from the rest of Mauritius when it granted the latter independence in 1968 and forcibly displaced up to 2,000 people.
UN Chief Guterres Banned to Enter in the Israel
Foreign Minister of Israel Katz announced that they decided to declare the U.N. Secretary-General António Guterres an undesirable personality in Israel and banned his entry into Israel. Israel banned UN chief António Guterres from entry for failing to condemn Iran's missile attacks on Israel.
Iran launched a 180-ballistic missile attack on Israel on 1st October Night in a joint effort between the Iranian Revolutionary Guard Corps (IRGC) and allied militant groups, including Hezbollah and the Houthis.
The attack was in response to Israel's killings of Hezbollah chief Hassan Nasrallah and Hamas chief Ismail Haniyeh, among several other leaders.
Oct 03, 2024
Italy Hosts G7 Call to Address Middle East Crisis
Italian Prime Minister Giorgia Meloni convened a call of G7 leaders to discuss the escalating crisis in the Middle East. Italy, holding the rotating presidency of the G7, emphasised its commitment to finding a diplomatic solution amidst growing tensions, particularly focusing on the Israeli-Lebanese border and Iran's missile attack on Israel.
Meloni's government has expressed "deep concern" over recent developments, including the instability in Lebanon. Italy's role as chair of the G7 positions it to lead efforts aimed at de-escalating tensions in the region, particularly through diplomacy.
This summit was notable for being the last for leaders like British Prime Minister Rishi Sunak, Japanese Prime Minister Fumio Kishida, and U.S. President Joe Biden. It also marked the first-ever attendance of Pope Francis at a G7 summit. Discussions addressed the WTO reforms, regional Middle East tensions, support for Ukraine's sovereignty, and concerns about Iran's nuclear program.
Bangladesh Recalls Envoy from India in Major Diplomatic Reshuffle
Bangladesh's interim government recalled five envoys, including the High Commissioner to India Mustafizur Rahman, in a major diplomatic reshuffle, a foreign ministry official said.
The foreign ministry ordered envoys in Brussels, Canberra, Lisbon, New Delhi and the permanent mission to the United Nations in New York to immediately return to the capital, Dhaka.
The move came ahead of the national elections in Bangladesh. While the reason behind the recall is unclear, analysts suggest it may be part of the interim government's efforts to re-align diplomatic priorities during the transition period.
Claudia Sheinbaum Mexico's First Female President
Claudia Sheinbaum was sworn in as Mexico's first woman President, vowing to bolster women's rights and ensure Latin America's No. 2 economy remains a secure destination for international investment.
Sheinbaum, a scientist and former mayor of Mexico City, took the oath of office and received the presidential sash in a boisterous ceremony in Mexico's Congress, which marked the start of her six-year term.
Oct 02, 2024
NATO to Establish Northern Land Command in Eastern Finland
NATO will set up a new land command in Finland near the Russian border next year (2025), tasked with leading the alliance's land force operations in northern Europe in the event of a military conflict, the Finnish Defence Minister said.
Finland joined the NATO alliance last year, in response to neighbouring Russia's full-scale invasion of Ukraine that began in 2022, and is organising the alliance's presence on its territory.
The centre, which NATO calls Multi Corps Land Component Command, will operate under the alliance's U.S.-based Norfolk Joint Force Command and jointly with Finland's own land force command that is already located in Mikkeli, about two hour's drive from the Finnish-Russian border.
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