DAILY CURRENT AFFAIRS

By admin: April 9, 2024

Sittwe Port Takeover by India Ports Global Limited (IPGL)

Tags: National News

The Ministry of External Affairs of India has given its approval to India Ports Global Limited (IPGL) to assume control of all operations at the Sittwe port situated in Myanmar's Rakhine province.

An Overview of the News

• This move marks Sittwe port as the second international port under Indian control, following the Shahid Beheshti Port in Chabahar, Iran.

• Unlike Chabahar, where India controls two terminals, India will have full control over operations at the Sittwe Port.

• The deal includes a long-term lease arrangement, renewable every three years, and IPGL will mobilize resources to further develop the port.

Sittwe Port Development and Significance:

• The development of Sittwe port is part of the Kaladan Multimodal Transit Transport Project, aimed at enhancing connectivity between Myanmar and India's northeastern states.

• The project involves connecting Sittwe port in Myanmar with Mizoram state in India through multimodal transit connectivity on the Kaladan River.

• India provided a $500 million grant to Myanmar for the construction of the port.

• The port was inaugurated by the Union Minister of Ports, Shipping & Waterways and Ayush, Shri Sarbananda Sonowal on May 9, 2023, marking a significant milestone in India-Myanmar connectivity.

• Sittwe port plays a crucial role in the development strategy for India's northeastern states, aiming to reduce transportation and logistic costs.

Connectivity Enhancements

• The Kaladan Multimodal project includes the development of 158 km of waterways on the Kaladan River from Sittwe Port to Paletwa in Myanmar, along with a road network of 109 km from Paletwa to Zorinpui on the India-Myanmar border in Mizoram.

• This infrastructure development is expected to significantly enhance connectivity in India's northeastern states, particularly Mizoram and Tripura.

Impact on Tripura and Mizoram Connectivity:

• The project will facilitate the transportation of goods from Shyam Prasad Mukherjee Port in Kolkata to Sittwe Port, then to Teknaf Port in Bangladesh, and finally to Sabroom in Tripura, reducing transportation time and logistics costs.

• It is anticipated to benefit Tripura and Mizoram by improving access to goods and services, thereby fostering economic growth in the region.

Threats to Sittwe Port:

• The Sittwe port's development faces potential threats from ongoing conflicts in Myanmar, particularly the civil war between the military government and insurgent groups like the Arakan Army in the Rakhine state.

• The instability in the region poses uncertainties regarding the fate of the Sittwe project, especially if the rebels gain control of the Rakhine province, jeopardizing the port's operations and security.

World Health Day - 7 April 2024

Tags: Important Days

United Nations (UN) World Health Day is an annual global health awareness day.

An Overview of the News

• It is celebrated across the globe on the 7th of April to shed light on a specific health issue concerning people globally.

• World Health Day celebrations aim to raise awareness about a particular health topic with emphasis on a priority area of concern identified by the World Health Organization (WHO).

• This date marks the 76th anniversary of the establishment of the World Health Organization (WHO) in 1948.

The theme of World Health Day 2024:

• The theme of World Health Day 2024 is 'My Health, My Right', which emphasizes individual rights to health.

Launch of Initiative:

• NMC and NTF have launched “My Health, My Rights” initiative targeting medical students and professionals.

World Health Organization (WHO):

• Director General: Dr. Tedros Adhanom Ghebreyesus

• Headquarters: Geneva, Switzerland

• Established: 7 April 1948

Verstappen takes victory in F1 Japanese Grand Prix 2024

Tags: Sports

Max Verstappen, representing Red Bull Racing, clinched victory at the Formula 1 (F1) Japanese Grand Prix 2024.

An Overview of the News

• The Japanese Grand Prix took place at the Suzuka International Racing Course located in Suzuka, Japan, spanning from the 5th to the 7th of April 2024.

• Securing the second position was Sergio Perez of Red Bull Racing from Mexico, while Ferrari's Carlos Sainz Jr. from Spain claimed the third spot.

• Max Verstappen secured his third consecutive Japanese Grand Prix title in 2024, adding to his victories in 2022 and 2023.

• He becomes the second driver after Michael Schumacher to achieve three consecutive wins in this event.

• Verstappen's victory at the Japanese GP 2024 marks his third win of the 2024 season, having previously triumphed in the Saudi Arabian GP and the Bahrain GP.

• This win signifies Verstappen's 57th career victory and his 101st podium finish.

Key Points about the Japanese Grand Prix 2024:

• The 2024 Constructors' Championship standings, as of April 8th, are led by the Red Bull Racing-Honda team with 141 points.

• Ferrari holds the second position with 120 points, while McLaren Mercedes stands third with 69 points.

• The Constructors' Championship standings reflect the cumulative points earned by the top two drivers from each team across various Grand Prix races.

About the Japanese Grand Prix:

• The Japanese Grand Prix 2024, officially known as the 'Formula 1 (F1) MSC Cruises Japanese Grand Prix 2024,' marks the 38th edition since its inception in 1976.

RBZ Launches Zimbabwe Gold (ZiG) Currency Backed by Gold and Foreign Reserves

Tags: International News

The Reserve Bank of Zimbabwe (RBZ) has launched a new currency called "Zimbabwe Gold (ZiG)," which is backed by gold and foreign currencies, aiming to replace the local currency, Zimbabwe dollars (ZW$) Real Time Gross Settlement (RTGS) dollar.

An Overview of the News

• RBZ has instructed banks to convert existing Zimbabwe dollar balances into ZiG starting from April 5, 2024.

• Circulation of ZiG notes and coins will commence on April 30, 2024.

• Banks will continue accepting ZW$ deposits for 21 days after April 5, 2024.

About Zimbabwe Gold (ZiG):

• ZiG is backed by a combination of foreign currency and precious metals, predominantly gold.

• The initial exchange rate of ZiG is set at 13.56 ZiG per US dollar (USD).

• Denominations of ZiG notes and coins include 1ZiG, 2ZIG, 5ZIG, 10ZIG, 20Zig, 50ZIG, 100ZIG, and 200ZİG.

Background on Currency and Economic Context:

• Zimbabwe adopted the US dollar in 2009 to combat hyperinflation.

• The new Zimbabwe dollar (Real-Time Gross Settlement (RTGS) dollar) was introduced in 2019.

• RTGS dollar experienced a significant devaluation, losing 75% of its value in 2024 and nearly 100% against the US dollar in 2023.

About Zimbabwe:

• President - Emmerson Mnangagwa

• Capital - Harare

• Currency - Zimbabwe Gold (ZiG)

SpaceX Launches Bandwagon-1: First Rideshare Mission to Low-Earth Orbit

Tags: Science and Technology

On April 7, 2024, Space Exploration Technologies Corporation (SpaceX) conducted the launch of Bandwagon-1.

An Overview of the News

• This marks the first rideshare mission to low-Earth orbit, facilitated by a Falcon 9 rocket.

• The launch took place from the National Aeronautics and Space Administration (NASA) Kennedy Space Center in Florida, United States of America (USA).

Key Satellites Carried:

• Bandwagon-1 carries a total of 11 satellites, each serving various purposes and organizations.

• Notable satellites include KOREA's 425Sat, HawkEye 360's Clusters 8 & 9, Tyvak International's CENTAURI-6, IQPS's QPS-Synthetic Aperture Radar (SAR)-7 TSUKUYOMI-II, Capella Space's Capella-14, and Tata Advanced Systems Limited's TSAT-1A.

Significance of the Launch:

• The inclusion of a '425 Project' satellite for the military of South Korea stands out as a significant aspect of this mission.

• This satellite is likely the largest among the 11 satellites carried by Bandwagon-1.

• It's noteworthy that the first 425 Project satellite, an optical/infrared spacecraft, was launched previously in December 2023 with a Falcon 9 rocket.

Love Kumar appointed as Special Protection Group (SPG) Inspector General

Tags: Person in news

Indian Police Service (IPS) officer Love Kumar has been appointed as the Special Protection Group (SPG) Inspector General (IG).

An Overview of the News

• The appointment is for a two-year term, as confirmed by an official notification from the Department of Personnel and Training (DoPT).

• The recommendation for Love Kumar's appointment came from the Cabinet Secretariat's Office of the Secretary (Security) and was approved by the Appointments Committee of the Cabinet (ACC).

• Love Kumar, currently serving as a Deputy Inspector General (DIG) in the SPG, will temporarily hold the position of IG through an upgrade of his rank.

Background and Profile of Love Kumar:

• Love Kumar is an Indian Police Service (IPS) officer belonging to the Uttar Pradesh cadre.

• He was born in 2004, indicating his tenure and experience within the police force.

• Prior to his appointment as SPG Inspector General, he held the position of Deputy Inspector General (DIG) in the SPG.

Appointment of Umesh Chander Datta as Inspector General of Police:

• Alongside Love Kumar's appointment, Umesh Chander Datta, also an IPS officer, has been named as the Inspector General of Police.

• Datta's term is also for two years from the date he assumes office or until further directives are issued, whichever comes first.

• This appointment was also made based on a statement from the Department of Personnel and Training (DoPT).