1. International News
Tags: International News
1. Mount Semeru erupted in Indonesia
- Mt Semeru (3676 m above sea level) is the biggest mountain on the island of Java.
- Semeru is one of the most active volcanoes in Indonesia and a part of a chain of volcanic mountains stretching from northern Sumatra to the Lesser Sunda Islands.
2. Suu Kyi sentenced to four years in prison
The military junta ruling Myanmar has sentenced the deposed leader Aung San Suu Kyi for four years for incitement against the military and breaching COVID-19 rules,
3. US to diplomatic boycott Beijing winter olympics
The US has announced a diplomatic boycott of the 2022 Winter Olympics in China because of concerns about China's human rights record especially its treatment of Uighur muslim in Xinjinag provinces, a move that has been heavily criticised by Beijing.
- However American sports persons will participate in the winter olympic games.
- Following the US announcement, New Zealand and Australia also announced a diplomatic boycott of the games though their athletes will be participating in the games.
- Canada will join the United States, the United Kingdom and Australia in a diplomatic boycott of the Beijing Winter Olympics over human rights concerns, Prime Minister Justin Trudeau said on December 8.
4. ADB to provide loan to India
Government of India and Asian Development Bank(ADB) has signed two agreement for loan to projects in India
- ADB will provide a $125 million loan to improve access to safe and affordable drinking water supply and citywide inclusive sanitation services in Dehradun and Nainital cities in the state of Uttarakhand.
- It will also provide a $150 million loan to provide access to inclusive, resilient, and sustainable housing for the urban poor in the state of Tamil Nadu.
5. India amongst the most unequal countries in the world
As per the 'World Inequality Report 2022' by World Inequality Lab, which aims to promote research on global inequality dynamics. India is among the most unequal countries in the world, with rising poverty and an 'affluent elite'.
- Distribution of Wealth: In India, the top 10% and top 1% hold 57% and 22% of the total national income respectively while the share of the bottom 50% has gone down to 13%.
- Gender inequality: The share of female labour income share in India is equal to 18% which is significantly lower than the average in Asia (21%, excluding China) & is among the lowest in the world. Although, the number is slightly higher than the average share in the Middle East (15%).
6. Nicaragua cut its diplomatic relation with Taiwan
- The Central American country Nicaragua has become the latest country to cut diplomatic ties with Taiwan in favour of China.
- The decision was praised by China, which demands that any country that wants diplomatic relations with it must cut existing ties with Taipei.
- However, Taiwan sees itself as a democratically-governed, independent country, though it has never formally declared independence from the mainland.
- Before Nicaragua, the Pacific Island nations of Kiribati and the Solomon Islands were the latest countries to cut ties with Taiwan in favour of China in 2019.
Capital of Nicaragua: Managua
President of Nicaragua: Daniel Ortega
Capital of Taiwan: Taipei
7. UN General Assembly Grants Observer Status To International Solar Alliance
- The United Nations General Assembly (UNGA) has granted Observer Status to International Solar Alliance (ISA), India's Permanent Ambassador to the United Nations.
- A total of 108 countries participated in the Assembly, including 74 Member Countries and 34 Observer and Prospective Countries, 23 Partner Organizations and 33 Special Invitee Organisations.
2. ADB to provide loan to India
Tags: Economics/Business
Government of India and Asian Development Bank(ADB) has signed two agreement for loan to projects in India
- ADB will provide a $125 million loan to improve access to safe and affordable drinking water supply and citywide inclusive sanitation services in Dehradun and Nainital cities in the state of Uttarakhand.
- It will also provide a $150 million loan to provide access to inclusive, resilient, and sustainable housing for the urban poor in the state of Tamil Nadu.
Asian Development Bank It was set up in 1966 after a resolution was passed at the first Ministerial Conference on Asian Economic Cooperation held by the United Nations Economic Commission for Asia and the Far East in 1963 . ADB was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world. Originally there were 31 members when the Bank was set up in 1966 and now it has 68 members—of which 49 are from within Asia and the Pacific and 19 outside. India is the largest recipient of ADB loan Headquarter of ADB : Mandaluyong City, Manila, Philippines Current President of ADB: Masatsugu Asakawa of Japan |
