1. Switzerland Named World's Best Country for the Seventh Time
Tags: INDEX
The Best Countries Ranking by US News & World Report has been released for 2024. Switzerland continues to hold the crown as the best country in the world.
An Overview of the News
The ranking is conducted in collaboration with the Wharton School of the University of Pennsylvania.
The list is based on a survey of nearly 17,000 participants evaluating 89 countries worldwide.
Switzerland is one of the most developed and economically stable countries globally.
It boasts low unemployment rates and a high GDP per capita. The country’s financial sector is strong, with a secure and reliable banking system.
Switzerland attracts global businesses and startups due to its innovation-driven economic policies.
The 10 best countries in the world for 2024:
Switzerland, Japan, USA, Canada, Australia, Sweden, Germany, UK, New Zealand, and Denmark.
Switzerland
Official Languages: Romansh, German, French, Italian
Currency: Swiss Franc (CHF)
President: Viola Amherd
Vice President: Karin Keller-Sutter
2. World Senior Citizens Day - 21st August 2024
Tags: Important Days
World Senior Citizens Day is celebrated every year on 21st August with the aim of honouring the elderly around the world.
An Overview of the News
This day acknowledges the contributions of senior citizens and raises awareness about the global issues they face.
Growing Elderly Population in India:
India's elderly population is rapidly increasing, projected to reach 193.4 million by 2031 (Report of the Technical Group on Population Projections, July 2020).
This marks a significant rise from the 103.8 million senior citizens recorded in the 2011 Census, which constituted 8.6% of the total population.
Importance in India:
The observance of World Senior Citizen Day in India is particularly important due to these demographic shifts, which are reshaping the nation's social landscape.
The growing elderly population underscores the need to address critical issues such as healthcare, economic security, and social integration for older adults.
Government Initiatives:
The Indian government has implemented various initiatives to enhance the well-being of senior citizens.
These efforts reflect a growing recognition of the challenges and opportunities presented by an aging population in India.
History of the day :
The United Nations General Assembly had announced to celebrate this day on 14 December 1990.
International Senior Citizens Day was celebrated for the first time on 1 October 1991.
In the US, President Ronald Reagan signed this resolution on 19 August 1988, and on 21 August 1988, International Senior Citizens Day was celebrated for the first time in the United States.
Ronald Reagan was the first person to introduce Senior Citizens Day.
3. BBVA Colombia and IFC Unveil World’s First USD 70 Million Biodiversity Bond
Tags: Economy/Finance
On July 12, 2024, Banco Bilbao Vizcaya Argentaria (BBVA) Colombia and the International Finance Corporation (IFC) launched the world's first biodiversity bond, totaling USD 70 million.
An Overview of the News
The first tranche of USD 15 million was issued by BBVA Colombia.
BBVA Colombia is the issuing bank, while IFC is the structurer, investor, and advisor for the bond.
Purpose and Funding
Projects Supported: The bond proceeds will finance projects in reforestation, forest regeneration, mangrove conservation, climate-smart agriculture, and wildlife habitat restoration.
IFC’s Involvement: IFC will assist in setting eligibility criteria, reporting indicators for biodiversity projects, and enhancing technical capabilities.
Previous Efforts
2023 Financing: In 2023, BBVA Colombia allocated over 214.8 billion Colombian pesos to biodiversity-related areas, including land use, ecotourism, smart agriculture, and marine habitat conservation.
Blue Bond: BBVA Colombia also issued a USD 50 million blue bond in 2023, with IFC as structurer and investor, to support freshwater and coastal ecosystem conservation.
Environmental and Social Impact
Climate Change: Climate change impacts on biodiversity and communities may create up to 10 million refugees in Colombia by 2050.
Colombia’s Biodiversity: Colombia is the most biodiverse country per square kilometer, hosting 14 percent of known plant species globally.
About International Finance Corporation (IFC)
Established: 20 July 1956
Affiliation: Member of the World Bank Group
Purpose: Provides financing for private enterprise investment in developing countries
Focus: Economic development and poverty reduction
Headquarters: Washington, D.C., United States
Managing Director: Makhtar Diop
4. India Ranks 72nd in IMF's Global AI Preparedness Index
Tags: INDEX
The International Monetary Fund (IMF) introduced the Artificial Intelligence Preparedness Index (AIPI) Dashboard on June 25, 2024.
An Overview of the News
The index ranks 174 Countries worldwide based on their preparedness for adopting artificial intelligence (AI).
India ranks 72nd with a score of 0.49, categorized as an Emerging Market (EM).
Bangladesh ranks 113th (0.38), Sri Lanka 92nd (0.43), and China 31st (0.63).
Rating Criteria: Ratings are based on digital infrastructure, human capital, labor policies, innovation, integration, and regulation.
Top Countries in the AI Preparedness Index
Singapore ranks 1st with an index of 0.800.
Denmark follows closely in 2nd place with an index of 0.778.
The United States secures the 3rd position with an index of 0.771.
Netherlands stands 4th with an index of 0.766.
Estonia, Finland and Switzerland are ranked 5th with an index of 0.754.
New Zealand and Germany are ranked 6th with an index of 0.753.
Sweden is ranked 7th with an index of 0.747
Impact and Job Displacement
Job Displacement: AI is projected to potentially disrupt 33% of jobs in advanced economies, 24% in emerging economies, and 18% in low-income countries.
Economic Reshaping: Economist Giovanni Melina highlights AI's potential to enhance job productivity and create new industries globally.
International Monetary Fund (IMF):
Establishment: 1944 (Formally came into existence in December 1945)
Members: 190 (India joined the IMF on December 27, 1945)
Headquarters: Washington DC
Important Points
India Ranked 63rd in the Global Energy Transition Index 2024
India Ranked 3rd in the Global Unicorn Index 2024
India Ranked 159th in the World Press Freedom Index 2024
India Ranked 129th in the Global Gender Gap Index 2024
India Ranked 39th in WEF's Travel and Tourism Development Index 2024
India Ranked 126th in the World Happiness Report 2024
5. National Statistics Day - 29 June 2024
Tags: Important Days
National Statistics Day is observed annually on 29 June to honour the contribution of Professor Prasanta Chandra Mahalanobis in statistics and economic planning.
An Overview of the News
Professor Mahalanobis, known as the 'Father of Indian Statistics', developed the Mahalanobis distance, a statistical measure to assess the difference between a point and a distribution.
Purpose: To create public awareness on the role and importance of statistics in socio-economic planning and policy formulation for India's development.
Designation: Recognized as a "Special Day" by the Government of India.
Statistics Day 2024
Theme:"Use of data for decision-making"
Significance: Highlights the importance of data-driven decision making for informed decisions and evidence-based policy formulation.
Main Event Details
Location: Manekshaw Centre, Delhi Cantt, New Delhi
Chief Guest: Dr. Arvind Panagariya, Chairman, 16th Finance Commission
Key Speakers:
Prof. Rajeeva Laxman Karandikar, Chairman, National Statistical Commission (NSC)
Dr. Saurabh Garg, Secretary, MoSPI
Participants: Senior officers from Central Ministries/Departments, State/UT Governments, representatives of international organizations (World Bank, UN agencies), and other stakeholders.
Webcast/Live Stream: The programme was web-casted/live streamed through the social media handles of the Ministry.
Key Highlights
Essay Writing Competition: Winners of the ‘On the Spot Essay Writing Competition, 2024’ for Postgraduate Students were felicitated.
Report Releases:
Sustainable Development Goals - National Indicator Framework Progress Report, 2024
Data Snapshot on Sustainable Development Goals - National Indicator Framework, 2024
Sustainable Development Goals - National Indicator Framework, 2024
Portal Launch: e-Statistics Portal and Central Data Repository for Official Statistics containing time series data of important macro indicators and data asset catalogue of the Ministry were launched.
History of National Statistics Day
The Government of India designated 29 June as National Statistics Day on 5 June 2007.
The designation was given to acknowledge the significant contributions of Prasanta Chandra Mahalanobis in the field of statistics and economic planning.
The first celebration of National Statistics Day took place on 29 June 2007.
Prasanta Chandra Mahalanobis was a prominent figure who played a key role in the first Planning Commission of India.
He was instrumental in the establishment of the Indian Statistical Institute (ISI) in 1931.
The day is celebrated as a tribute to Prasanta Chandra Mahalanobis and his remarkable contribution in the field of statistics.
About Indian Statistical Institute
Director - Prof. Sanghamitra Bandyopadhyay
Headquarters - Kolkata
Establishment - 17 December 1931
6. Bilan Media ,Somalia's First and only All-Women News Team Wins 2024 One World Media Press Freedom Award
Tags: Awards
Bilan Media, Somalia's pioneering all-women news team, received the prestigious 2024 One World Media Press Freedom Award.
An Overview of the News
This marks the first time a Somali media organization has been honored with this accolade.
The award acknowledges Bilan's fearless journalism over the past two years, which has tackled sensitive topics and empowered female journalists in Somalia.
About Bilan Media
Established in 2021 by the United Nations Development Programme (UNDP), Bilan Media has been supported by the European Union (EU) through UNDP funding since 2024.
It operates under the auspices of the Dalsan Media Group from its headquarters in Mogadishu, Somalia.
The team, comprising solely women, operates with complete editorial independence.
Journalistic Impact: Bilan Media has covered a wide array of critical issues, including the plight of albino communities and the abuse of female orphans, shedding light on otherwise marginalized topics.
One World Media Press Freedom Award
The award, formerly known as the Special Award, honors independent media organizations from the global south that utilize media to address social, cultural, political, and economic challenges.
It celebrates exceptional reporting that informs the public, amplifies local voices, facilitates critical information dissemination, and holds authority figures accountable.
Climate and Labour Film Grant
Grant Launch: At the ceremony, Vivienne Francis, Director of One World Media, announced a new grant initiative.
Purpose: The grant, valued at up to £20,000, aims to fund a documentary produced by a filmmaker from the global south.
Theme: The documentary will focus on the impacts of climate change on people's lives and labor.
Partnership: This initiative is a collaboration between One World Media, the Financial Times (FT), and the Pulitzer Center.
Project Requirements: The film should be 25 minutes or less and must be completed by June 2025.
7. WEF 2024 Report: Sweden Leads, India Ranked 63rd on Global Energy Transition Index
The World Economic Forum (WEF), in collaboration with Accenture, published its annual report titled "Fostering Effective Energy Transition 2024" on 19th June 2024.
An Overview of the News
According to the report, India has achieved the 63rd position on the global Energy Transition Index (ETI) 2024.
The report highlights that India has climbed 3 places from its 2023 rank of 67th, driven by notable enhancements in energy equity, security, and sustainability domains.
Top Countries on ETI 2024:
Sweden secured 1st place with an ETI score of 78.4.
Denmark followed at 2nd place with a score of 75.2.
Finland ranked 3rd with a score of 74.5.
Fastest Improving Countries (Last 5 Years):
Estonia, Ethiopia, and Lebanon identified as countries showing significant improvement.
About WEF:
Established: 1971
Founder: Prof. Klaus Schwab
Headquarters: Cologny, Geneva Canton, Switzerland
Managing Director: Saadia Zahidi
Important Points
- India ranked 3rd in Global Unicorn Index 2024
- India ranked 159th in World Press Freedom Index 2024
- India ranked 129th in Global Gender Gap Index 2024
- India ranked 39th in WEF's Travel and Tourism Development Index 2024
- India ranked 126th in World Happiness Report 2024
8. India ranked 129th in Global Gender Gap Index
India has slipped two places to the 129th position in the Global Gender Gap Index.
An Overview of the News
Among South Asian countries, India ranks fifth, behind Bangladesh, Nepal, Sri Lanka, and Bhutan, with Pakistan ranked last.
India demonstrates notable gender parity in secondary education enrollment and political empowerment.
India secures the 10th position for the number of years with female/male heads of state in the last 50 years.
However, India's overall gender gap closure has slightly declined to 64.1% in 2024 from 64.2% last year.
Top 10: The Global Gender Gap Index 2024 rankings
Iceland
Finland
Norway
New Zealand
Sweden
Nicaragua
Germany
Namibia
Ireland
Spain
Bottom 5: The Global Gender Gap Index 2024 rankings
Sudan 146 Rank
Pakistan 145 Rank
Chad 144 Rank
Iran (Islamic Republic of) 143 Rank
Guinea 142 Rank
About Global Gender Gap Report
The Global Gender Gap Report, initiated by the World Economic Forum in 2006, evaluates gender equality worldwide.
It measures how resources and opportunities are distributed among men and women within countries.
The report aims to raise awareness and foster dialogue among policymakers by highlighting role model countries in equitable resource allocation.
According to the 2023 report, it will take 131 years to close the global gender gap.
9. India has moved up to the 39th spot in the WEF's Travel & Tourism Development Index.
Tags: INDEX
India has ascended to the 39th position in the World Economic Forum’s Travel & Tourism Development Index for 2024, marking a notable improvement from its previous ranking of 54th in 2021.
An Overview of the News
This advancement places India at the top in South Asia among the lower-middle-income economies.
The United States secured the top spot in the index.
India achieved a score of 4.25 out of 7 on the overall index, where 1 represents the lowest and 7 the highest.
The significant rise in India's ranking highlights its increasing competitiveness in the global tourism sector.
The biennial index evaluated the travel and tourism sectors of 119 countries, assessing various factors and policies contributing to tourism development.
2024 Travel and Tourism Development Index:
Top Five Countries
The United States of America leads the rankings with a score of 5.24 in the 2024 Travel and Tourism Development Index.
Spain follows closely behind with a score of 5.18.
Japan secures the third position with a score of 5.09.
France holds the fourth spot with a score of 5.07.
Australia rounds up the top five with a score of 5.00.
Bottom Ranked countries
Mali ranks at the bottom of the list, securing a score of 2.78.
Sierra Leone follows closely behind, ranking second from the bottom with a score of 2.9.
Travel and Tourism Development Index 2024
The Travel and Tourism Development Index is a biennial report issued by the World Economic Forum (WEF), replacing the previous Travel & Tourism Competitiveness Index (TTCI) which was published biennially since 2007.
It assesses and benchmarks the factors and policies facilitating sustainable and resilient development within the travel and tourism sector, contributing to a country's overall development.
The 2024 Index was developed in partnership with the University of Surrey, England.
This edition ranks 119 countries based on their performance in fostering the development of the travel and tourism industry.
About WEF
The World Economic Forum (WEF) is a non-profit international think tank established by Klaus Schwab of Germany in 1971 with the aim of promoting Public-Private Cooperation.
It serves as a platform facilitating collaboration among government entities, non-governmental organizations, businesses, academics, and other stakeholders.
The primary goal of the WEF is to address global challenges by fostering dialogue and finding shared solutions.
The headquarters of the WEF is located in Cologny, Switzerland.
10. G20 Culture Ministers' meeting begins in Varanasi
Tags: Summits
The G20 Culture Ministers' meeting began on 26 August in Varanasi.
An Overview of the News
The event represents the culmination of India's G20 Culture Working Group (CWG) meetings and discussions.
A comprehensive report summarizing the insights and recommendations of the webinar 'G20 Culture: Shaping the Global Narrative for Inclusive Growth' will be unveiled during the meeting.
A special stamp will be issued to commemorate the 'Culture Unites All' campaign, an important initiative under India's G20 Presidency CWG.
Union Culture Minister - G Kishan Reddy
Minister of State for Culture - Meenakshi Lekhi
About the G20
It is an international forum of the world's leading economies established in 1999.
Its primary objective is to promote international financial stability and sustainable economic growth.
The G20 serves as a forum to discuss and coordinate policies related to a wide range of economic and financial issues such as trade, investment, employment, energy and climate change.
