1. India-UAE Strengthen Defense Ties in 12th Joint Committee Meeting in Abu Dhabi
Tags: International News
The 12th India-UAE Joint Defence Cooperation Committee (JDCC) meeting took place in Abu Dhabi on July 9, aiming to enhance defense relations.
An Overview of the News
The Indian delegation, led by Joint Secretary Amitabh Prasad, met with UAE counterparts led by Brigadier General Staff Jamal Ebrahim Mohamed Almazrooqi.
Discussions included training cooperation, joint military exercises, defense industrial partnerships, and research and development initiatives.
Both sides emphasized exchanging subject matter experts to benefit from shared knowledge and experience.
Maritime security and other regional security concerns were key topics of discussion.
Separate staff talks between the navies and armies focused on enhancing operational synergies.
Bilateral Engagements
Joint Secretary Prasad engaged in bilateral discussions with UAE officials, including Ali Abdulla Al Ahmed and the CEO of Tawazun Economic Council.
The meeting aimed to strengthen the Comprehensive Strategic Partnership established in 2006, contributing to stability in the Middle East and South Asia.
About United Arab Emirates (UAE)
Location: It is located in Western Asia.
Geographical Boundaries: It shares borders with Oman and Saudi Arabia.
Maritime Borders: It also has maritime borders with Qatar and Iran in the Persian Gulf.
Religion: Islam is the dominant religion in the UAE, with the majority of the population being Sunni Muslim.
Capital - Abu Dhabi
Official language - Arabic
Government - Federal Islamic parliamentary elective semi-constitutional monarchy
President/Crown Prince - Mohamed bin Zayed Al Nahyan
Prime Minister - Mohammed bin Rashid Al Maktoum
Vice President - Mohammed bin Rashid Al Maktoum and Mansour bin Zayed Al Nahyan
India-UAE Relations:- |
Diplomatic Relations: India and the UAE established diplomatic ties in 1972, which were elevated to a strategic partnership in 2015 and further strengthened with a comprehensive strategic partnership in 2017. These milestones marked deeper cooperation in various sectors. Economic Relations: Bilateral trade between India and the UAE soared to USD 85 billion in 2022-23, making the UAE India's third-largest trading partner and a significant export destination. Both countries aim to enhance this further, with targets set for merchandise and services trade. Cultural Exchange: With over 3.3 million Indians residing in the UAE, cultural ties are robust. Indian cinema, music, and cultural festivals are popular in the UAE, fostering mutual understanding and people-to-people connections. Technological Collaboration: The introduction of the RuPay card in the UAE and the establishment of a Rupee-Dirham settlement system illustrate advancing fintech collaboration, enhancing ease of transactions and financial connectivity between the two nations. Strategic Partnerships: Beyond economic and cultural ties, India and the UAE collaborate strategically on regional issues and initiatives like energy security and economic corridors, demonstrating shared interests and mutual support in regional stability and development. |
2. Dubai Hosts 4th India-GCC Food and Beverage Meet
Tags: International News
Dubai hosts the fourth edition of the India-Gulf Cooperation Council (GCC) Buyers Sellers Meet on Food and Beverages.
An Overview of the News
The event brings together key players from the food and beverage industry across India and GCC countries.
Organized by the Trade Promotion Council of India, it aims to boost trade relations and showcase innovative Indian products to the GCC market.
Thirty-six Indian companies and 170 buyers from GCC countries are participating.
The meet serves as a crucial platform for Indian exporters to display their diverse product range and forge valuable business connections.
Leading regional retailers such as LuLu Group, Choithrams, and Nesto are among the prominent participants.
Highlights
K. Kalimuthu, Consul (Trade and Commerce) at CGI Dubai, highlighted the growing trade relations between India and the UAE.
He noted that bilateral trade reached over $85 billion last year.
Kalimuthu emphasized the potential for growth in the processed food segment, stating that nearly two-thirds of UAE’s imports from India come from fresh items like rice, wheat, meat, fresh vegetables, and special foods, while only one-third comes from processed and packaged foods.
About GCC
Cooperation Council for the Arab States of the Gulf (Gulf Cooperation Council)
Regional, intergovernmental, political, and economic union
Members: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates
Headquarters: Riyadh, Saudi Arabia
Founders: Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain, Oman
Founded: 25 May 1981, Abu Dhabi, United Arab Emirates
About United Arab Emirates (UAE)
Location: It is located in Western Asia.
Geographical Boundaries: It shares borders with Oman and Saudi Arabia.
Maritime Borders: It also has maritime borders with Qatar and Iran in the Persian Gulf.
Religion: Islam is the dominant religion in the UAE, with the majority of the population being Sunni Muslim.
Capital - Abu Dhabi
Official language - Arabic
Government - Federal Islamic parliamentary elective semi-constitutional monarchy
President/Crown Prince - Mohamed bin Zayed Al Nahyan
Prime Minister - Mohammed bin Rashid Al Maktoum
Vice President - Mohammed bin Rashid Al Maktoum and Mansour bin Zayed Al Nahyan
Important facts about UAE
Rivers: No rivers in the UAE
AI Minister: First country to appoint a minister for artificial intelligence
National Animal: Arabian Oryx
Tallest Hotels: Six of the world’s tallest hotels are in the UAE
Government: Absolute monarchy
Royal Families: Each emirate is ruled by a separate royal family
National Symbol: Falcon
Emirates: Abu Dhabi, Dubai, Sharjah, Fujairah, Ajman, Ras Al Khaimah, Umm Al Quwain
Religion: Muslims 76%, Christians 19%
Currency: Dirhams
National Day: 2 December
3. ICICI Prudential Mutual Fund Launches India's First Oil & Gas Sector ETF
Tags: National News
ICICI Prudential Mutual Fund (MF) has launched India's first Exchange-Traded Fund (ETF) focused on the oil and gas sector, named the ICICI Prudential Nifty Oil & Gas ETF.
An Overview of the News
This open-ended ETF tracks the Nifty Oil & Gas Total Return Index (TRI), which reflects the performance of companies within the sector.
Public subscription for this scheme began on July 8, 2024, and will close on July 18, 2024.
After this period, the scheme will re-open for continuous sale and repurchase within five days from the date of allotment.
The scheme carries a very high risk rating.
There is no assurance or guarantee that the scheme's investment objective will be achieved.
The fund is managed by Nishit Patel and Priya Sridhar.
ICICI Prudential Nifty Oil & Gas ETF Key Points:
Investors can participate in the scheme with a minimum investment of Rs 100 per plan/option. Investments can be made in multiples of Re 1, with no upper limit.
The scheme involves no "Entry Load" or "Exit Load." However, investors will be responsible for any brokerage charges incurred during the sale.
The indicative allocation ranges from a minimum of 95% to a maximum of 100% of total assets.
To maintain liquidity and manage short-term cash flow needs, the fund allows for a small allocation to money market instruments, including Treasury bills and Repurchase (TREPS), with a maximum limit of 5% of total assets.
ICICI Prudential Mutual Fund:
Establishment - 1993
MD & CEO - Nimesh Shah
HQ - Mumbai
4. CJI Chandrachud Launches Multi Facilitation Centre at Supreme Court
Tags: National News
Chief Justice of India (CJI) DY Chandrachud inaugurated a new filing counter at the Supreme Court in New Delhi on July 11th.
An Overview of the News
The newly established centre is a multi facilitation centre aligned with the Apex Court’s mission to enhance access to justice.
The new centre, part of the Supreme Court's access to justice mission, centralizes access to case-related documents for lawyers.
CJI Chandrachud emphasized that the centre will improve the Supreme Court's service quality to Indian citizens.
Brazilian judge Justice Antonio Benjamin, soon to be Chief Justice of the Brazilian Supreme Court, was welcomed by CJI Chandrachud during the event.
About Dhananjay Yeshwant Chandrachud
Justice D Y Chandrachud took office as the 50th Chief Justice of India on November 9, 2022, succeeding Justice U U Lalit.
President Draupadi Murmu administered the oath at Rashtrapati Bhavan for his term lasting until November 10, 2024.
Born on November 11, 1959, Justice Chandrachud became a Supreme Court judge on May 13, 2016.
His father, Justice Y V Chandrachud, served as the 16th Chief Justice of India.
Notable judgments by Justice Chandrachud include cases involving Section 377 IPC, Aadhaar, and Sabarimala, among others.
Supreme Court and its Chief Justice
The Supreme Court of India was established on January 26, 1950, replacing the Federal Court under the Government of India Act, 1935.
Its first sitting took place on January 28, 1950.
Harilal J. Kania served as the first Chief Justice of India.
Yeshwant Vishnu Chandrachud, the 16th Chief Justice, holds the record for the longest tenure, serving for over 7 years (February 1978 – July 1985).
Kamal Narain Singh, the 22nd Chief Justice, had the shortest tenure, serving for only 17 days (November 25, 1991 – December 12, 1991).
5. Sanath Jayasuriya Appointed Interim Head Coach of Sri Lanka Men's Cricket Team
Tags: Person in news International News
Sri Lanka Cricket (SLC) has appointed Sanath Jayasuriya as the interim head coach of the men’s national team.
An Overview of the News
Jayasuriya will hold the position until the completion of the upcoming tour of England.
Sanath Jayasuriya steps in to replace Chris Silverwood, who resigned following Sri Lanka's disappointing performance in the ICC Men’s T20 World Cup 2024.
The team finished third in Group D, managing only one win in four games during the T20 World Cup.
Jayasuriya's Background
Prior to the T20 World Cup, Jayasuriya was part of Sri Lanka's contingent as a Cricket Consultant.
He has previously served Sri Lanka Cricket (SLC) as a selector.
Jayasuriya currently holds the role of full-time Cricket Consultant for SLC.
Sanath Jayasuriya has played 586 matches for Sri Lanka across all formats.
He accumulated an impressive 21,032 runs and took 440 wickets in his career.
Chris Silverwood's Tenure
Chris Silverwood’s coaching tenure included a T20 Asia Cup triumph in 2022.
Under Silverwood, Sri Lanka also secured a runner-up position in the 50-over Asia Cup in 2023.
The team achieved several victories in bilateral series during his tenure.
Upcoming England Tour
Sri Lanka will travel to England for a three-match Test series.
The first Test will be played in Manchester, starting on 21 August.
The second and third Tests will be held in London, at Lord's and The Oval respectively.
6. Ukraine and Poland Solidify Defense Partnership with New Security Agreement
Tags: International Relations International News
Ukrainian President Volodymyr Zelenskyy and Polish Prime Minister Donald Tusk finalized a long-term security agreement in Warsaw.
An Overview of the News
The agreement solidifies Poland's strong support for Ukraine amidst its conflict with Russia.
Strategic Alliance:
The agreement marks a strategic alliance between Poland and Ukraine amid ongoing geopolitical challenges in Eastern Europe.
Discussions focused on defense cooperation and Poland's support for Ukraine's integration into Europe.
Humanitarian Support:
Poland, a key advocate within the EU, has provided significant humanitarian aid and refuge to Ukrainian war refugees.
Approximately one million refugees currently seek shelter in Poland, emphasizing its role as a haven amidst the crisis.
Geopolitical Context:
Zelenskyy's visit aimed to strengthen international solidarity and support for Ukraine's defense against Russian aggression.
The visit coincided with a serious escalation in hostilities, including a missile strike on a children's hospital in Kyiv.
India-Poland Relations:
India and Poland enjoy a long-standing political relationship dating back to 1954, marked by regular high-level visits and strong diplomatic ties.
Economically, Poland is India's largest trading partner in Central & Eastern Europe, with bilateral trade reaching $2.73 billion in 2020.
Both countries collaborate extensively in sectors such as mining, IT, pharmaceuticals, and textiles, supported by multiple bilateral agreements.
Cultural ties are strengthened through Indology studies at Polish universities and widespread practice of yoga in Poland.
Consular relations have improved with facilities like e-visas and the establishment of an honorary consulate in Wroclaw, reflecting growing people-to-people contacts and a vibrant Indian community in Poland.
India-Russia Partnership:
Russia has been a longstanding and trusted partner for India, with ties deepening significantly since the 2000 "India-Russia Strategic Partnership" declaration.
The partnership spans various domains, including political, security, defence, trade, technology, and culture, and was elevated to a "Special and Privileged Strategic Partnership" in 2010.
Institutionalized dialogues, such as the India-Russia Intergovernmental Commission and the 2+2 Dialogue, ensure regular high-level engagement.
Bilateral trade reached an all-time high of $65.70 billion in FY 2023-24, with significant cooperation in defence and technology, including joint projects like the S-400 system and Kudankulam Nuclear Plant.
The relationship remains strong, with both countries committed to expanding cooperation in new areas, supporting a multipolar world order.
7. Ukraine and Poland Solidify Defense Partnership with New Security Agreement
Tags: International Relations International News
Ukrainian President Volodymyr Zelenskyy and Polish Prime Minister Donald Tusk finalized a long-term security agreement in Warsaw.
An Overview of the News
The agreement solidifies Poland's strong support for Ukraine amidst its conflict with Russia.
Strategic Alliance:
The agreement marks a strategic alliance between Poland and Ukraine amid ongoing geopolitical challenges in Eastern Europe.
Discussions focused on defense cooperation and Poland's support for Ukraine's integration into Europe.
Humanitarian Support:
Poland, a key advocate within the EU, has provided significant humanitarian aid and refuge to Ukrainian war refugees.
Approximately one million refugees currently seek shelter in Poland, emphasizing its role as a haven amidst the crisis.
Geopolitical Context:
Zelenskyy's visit aimed to strengthen international solidarity and support for Ukraine's defense against Russian aggression.
The visit coincided with a serious escalation in hostilities, including a missile strike on a children's hospital in Kyiv.
India-Poland Relations:
India and Poland enjoy a long-standing political relationship dating back to 1954, marked by regular high-level visits and strong diplomatic ties.
Economically, Poland is India's largest trading partner in Central & Eastern Europe, with bilateral trade reaching $2.73 billion in 2020.
Both countries collaborate extensively in sectors such as mining, IT, pharmaceuticals, and textiles, supported by multiple bilateral agreements.
Cultural ties are strengthened through Indology studies at Polish universities and widespread practice of yoga in Poland.
Consular relations have improved with facilities like e-visas and the establishment of an honorary consulate in Wroclaw, reflecting growing people-to-people contacts and a vibrant Indian community in Poland.
India-Russia Partnership:
Russia has been a longstanding and trusted partner for India, with ties deepening significantly since the 2000 "India-Russia Strategic Partnership" declaration.
The partnership spans various domains, including political, security, defence, trade, technology, and culture, and was elevated to a "Special and Privileged Strategic Partnership" in 2010.
Institutionalized dialogues, such as the India-Russia Intergovernmental Commission and the 2+2 Dialogue, ensure regular high-level engagement.
Bilateral trade reached an all-time high of $65.70 billion in FY 2023-24, with significant cooperation in defence and technology, including joint projects like the S-400 system and Kudankulam Nuclear Plant.
The relationship remains strong, with both countries committed to expanding cooperation in new areas, supporting a multipolar world order.
8. Masoud Pezeshkian wins Iranian Presidential Election
Tags: International News
Reformist candidate Masoud Pezeshkian wins Iran's presidential election with approximately 53.6% of the vote.
An Overview of the News
Masoud defeated Saeed Jalili, an ultraconservative candidate advocating closer ties with Russia and China.
The election had about 50% voter turnout, following a previous round with low participation.
India-Iran Relations:
Strategic Partnerships: India and Iran have historically maintained important economic and strategic ties, including energy cooperation.
Steady Relations Expected: Pezeshkian's presidency is likely to see continued engagement with India on bilateral and regional issues.
Economic Cooperation: Both countries are likely to focus on enhancing trade and economic cooperation despite global geopolitical challenges.
About Iran
Iran is a country located in the southwest section of Jambudweep (Asia). It was known as Persia (Persia) till 1935.
Iran was declared an Islamic republic in 1979.
Iran's economy is mainly dependent on oil and natural gas exports.
Iran is the largest country in the world in terms of natural gas reserves.
Capital- Tehran
Currency - Iranian Rial
IMPORTANT POINTS |
Keir Starmer of the Labour Party became the UK's 58th Prime Minister on July 5, 2024, succeeding Rishi Sunak. Rachel Reeves is appointed as the UK's first female Chancellor under PM Keir Starmer. Russian cosmonaut Oleg Kononenko becomes the first human to spend 1,000 days in space. Dick Schoof, former head of Dutch intelligence, is sworn in as the Netherlands' new Prime Minister by King Willem-Alexander. South Korea, the US, and Japan initiated their first trilateral multi-domain exercise, named Freedom Edge on June 27. Paraguay achieves full membership in the International Solar Alliance as its 100th member country. Wärtsilä Oyj Abp, a Finnish company, launches the world's first large-scale 100% hydrogen-ready engine power plant for net-zero power systems. |
9. Keir Starmer Takes Helm as UK's 58th Prime Minister, Succeeding Rishi Sunak
Tags: International News
Keir Starmer of the Labour Party became the 58th Prime Minister of the United Kingdom on July 5, 2024, succeeding Rishi Sunak.
An Overview of the News
Labour secured 412 seats, an increase of 211, while the Conservative Party received 121 seats, a decrease of 250, in the 650-seat House of Commons.
Labour garnered 35% of the votes, compared to the Conservative Party's 24%.
Historical Significance:
Keir Starmer's election marks the return of the Labour Party to power after 14 years, since Gordon Brown's tenure from 2007 to 2010.
He is the first Labour Party leader to win a general election since Tony Blair's leadership from 1997 to 2007.
Career Background:
Prior to becoming Prime Minister, Keir Starmer served as Shadow Secretary of State for Exiting the European Union from 2016 to 2020 and as Shadow Immigration Minister from 2015 to 2016.
He was knighted as Knight Commander of the Order of the Bath (KCB) in the 2014 New Year Honours for his contributions to law and criminal justice.
Historical Note: Keir Starmer is the first Knight of the realm to become Prime Minister since Sir Alec Douglas-Home in 1963.
NOTE - Rishi Sunak makes history as the first British Asian and Hindu as Prime Minister of the UK, holding the post from October 2022 to July 5, 2024.
About UK
The United Kingdom of Great Britain and Northern Ireland, often referred to as the United Kingdom (UK) or Britain, is situated in Northwestern Europe.
It includes four constituent countries: England, Scotland, Wales, and Northern Ireland.
Geographically, it is located off the coast of the continental mainland of Europe.
Capital - London
Prime Minister - Keir Starmer
10. U.K. PM Keir Starmer Appoints Rachel Reeves as the Country's First Female Chancellor
Tags: International News
Angela Rayner has been named Deputy Prime Minister, and Rachel Reeves has become the country's first female Chancellor of the Exchequer.
An Overview of the News
Keir Starmer has been appointed as the new UK Prime Minister.
Cabinet Appointments:
Yvette Cooper has been appointed as Home Secretary.
David Lammy has been named Foreign Secretary.
John Healey has been appointed Defence Secretary.
Shabana Mahmood has been named Justice Secretary.
Wes Streeting has been appointed Health Secretary.
Bridget Phillipson has been named Education Secretary.
Ed Miliband has been appointed Energy Secretary.
The cabinet includes a record number of women, with 11 out of the 25 members being female.
About UK
The United Kingdom of Great Britain and Northern Ireland, often referred to as the United Kingdom (UK) or Britain, is situated in Northwestern Europe.
It includes four constituent countries: England, Scotland, Wales, and Northern Ireland.
Geographically, it is located off the coast of the continental mainland of Europe.
Capital - London
Prime Minister - Keir Starmer
