1. 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.
2. 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. |
3. 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
4. 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
5. Russian Cosmonaut Oleg Kononenko Becomes First Human to Spend 1,000 Days in Space
Tags: International News
On June 3, 2024, Russian cosmonaut Oleg Kononenko was announced by Russia's space agency, Roscosmos, as the first person to spend a total of 1,000 days in space.
An Overview of the News
Kononenko's record was reached during his ongoing mission aboard the International Space Station (ISS), which began on September 15, 2023.
Mission Details
Total Time in Space: By the end of his current mission on September 23, 2024, Kononenko will have spent a total of 1,110 days in orbit.
Multiple Missions: Kononenko accumulated his time in space over five separate missions to the ISS. His first mission was Expedition 17, which launched in April 2008.
Previous Records
In February 2024, Kononenko broke the previous record of 878 days in space set by his colleague, Gennady Padalka.
About The International Space Station (ISS)
It was commissioned in 1998 and has been fully operational since 2011.
The first astronauts were sent to the ISS in 2000.
It is operated by 16 countries, led by NASA, including America, Russia, Japan, Brazil, Canada, and 11 European countries.
The ISS is the most complex international scientific and engineering project and the largest manned spaceflight structure.
It orbits Earth at an average altitude of 400 kilometers, completing an orbit every 90 minutes at a speed of about 28,000 kilometers per hour.
The ISS appears as a bright moving light in the night sky, similar to the planet Venus.
Russia
Capital and largest city - Moscow
Official and national language - Russian
President - Vladimir Putin
Prime Minister - Mikhail Mishustin
6. India Launches UPI Payments at Galeries Lafayette, Paris
Tags: International News
India's Unified Payments Interface (UPI) launched at the Galeries Lafayette flagship store on Haussmann Boulevard, Paris.
An Overview of the News
The Indian Embassy in France announced the operational status of UPI at Galeries Lafayette on July 3, 2024.
Ambassador Jawed Ashraf inaugurated the launch with Nicolas Houze (CEO of Galeries Lafayette) and Alain Lacour (Chairman of Lyra Group) present.
Significance and Strategic Collaboration
Strategic Collaboration:
Highlighted the strategic partnership between Lyra and the National Payments Corporation of India (NPCI).
This launch is ahead of the Paris Olympics starting on July 26, 2024, expecting many Indian visitors.
Historical Context:
Recalled Prime Minister Modi's first international UPI launch in Singapore in 2018.
Emphasized UPI's ongoing global expansion and potential for facilitating cross-border digital payments and remittances.
UPI Overview and Capabilities
System Integration:
UPI integrates multiple bank accounts into a single mobile application.
Offers seamless fund routing and merchant payments across participating banks.
Technical Details:
UPI is an Indian instant payment system developed by NPCI in 2016.
It facilitates inter-bank peer-to-peer and person-to-merchant transactions.
Operates as an open-source application programming interface (API) on top of the Immediate Payment Service (IMPS).
Regulated by the Reserve Bank of India.
Global Fintech Alignment
UPI positions itself as a comprehensive digital payment system.
Aligns with global fintech trends, promoting swift, secure, and efficient cross-border transactions.
7. Japan's ALOS-4 Earth Observation Satellite Launch
Tags: Science and Technology International News
Japan launched the Advanced Land Observation Satellite-4 "DAICHI-4" (ALOS-4) on July 1, 2024.
An Overview of the News
The launch took place from the Tanegashima Space Center using the third flight of the H3 Launch Vehicle (H3 F3).
This marked the third successful deployment of the H3 system.
ALOS-4 is designed for earth observation and was deployed into orbit from off the coast of Kyushu, Japan.
This launch marks a significant advancement in Japan's space exploration efforts, focusing on enhanced earth observation capabilities.
ALOS-4 Features:
ALOS-4 succeeds DAICHI-2 (ALOS-2) and expands its observation range significantly. Japan will continue to operate both satellites concurrently.
It features an infrared sensor developed by Japan's defense ministry, primarily designed for earth observation, disaster response data collection, and cartography.
Equipped with an infrared sensor, the satellite has capabilities for monitoring military activities such as missile launches.
About H3 Rocket System:
Developed by Japan Aerospace Exploration Agency (JAXA) in collaboration with Mitsubishi Heavy Industries.
Designed as a cost-effective successor to the H-IIA launch system, capable of carrying a 6.5 metric ton payload into space.
Each launch costs approximately 5 billion Japanese Yen (JPY) or USD 33 million.
About JAXA
Established- 2003
President- Yamakawa Hiroshi
Headquarters- Chofu City, Japan
Japan
Capital: Tokyo
King: Prince Naruhito (The reign of the 126th king will be known as 'Riwa'.)
Prime Minister: Fumio Kishida
Currency: Japanese Yen
Additional Information:-
1. | Japan introduced new 3D holographic banknotes starting from July 3. |
2. | South Korea, the US, and Japan launched their first trilateral multi-domain exercise named Freedom Edge on June 27. |
8. Russia Approves 2033 Completion Plan for New Orbital Station
Tags: International News
Russia has approved the schedule for creating a Russian orbital station by 2033.
An Overview of the News
Roscosmos, Russia’s state space corporation, released a statement detailing the schedule.
The schedule includes:
Design and construction of space modules.
Flight tests of a new-generation manned spaceship.
Creation of launch vehicles.
Development of space infrastructure on Earth.
Timetable for the work of scientific institutes supporting the project.
Yuriy Borisov, head of Roscosmos, signed the construction schedule along with directors from 19 enterprises involved.
Launch Schedule
2027: Launch of the scientific and energy modules.
2030: Launch of three core modules:
Universal nodal module.
Gateway module.
Base module.
2033: Launch of two additional target modules.
Financial Allocation
A total of 608.9 billion rubles has been allocated to finance the project.
Objectives and Benefits
Ensuring the continuity of Russia’s space program.
Addressing issues of national security.
Promoting scientific and technological development.
Serving as a platform for testing space technologies.
9. Dick Schoof Elected as New Prime Minister of Netherlands
Tags: International News
Dick Schoof, former head of the Dutch intelligence agency and counterterrorism office, is sworn in as the new Prime Minister of the Netherlands by King Willem-Alexander.
An Overview of the News
The Netherlands has a new Prime Minister for the first time in 14 years.
The new government was sworn in seven months after the far-right Party for Freedom won the largest share of seats in the elections.
First non-party-aligned PM since World War II.
Formation of Government:
Took 223 days to form a government after elections.
The elections were dominated by Geert Wilders’ far-right, anti-Islam Party for Freedom.
Wilders’ party won the largest share of seats but did not secure the PM position due to opposition from coalition partners.
Coalition Parties:
Party for Freedom (Geert Wilders).
People’s Party for Freedom and Democracy (Mark Rutte’s center-right party).
Farmer Citizen Movement (populist party).
New Social Contract (centrist party).
Government Agenda:
Coalition agreement titled “Hope, courage and pride.”
Strict measures on asylum-seekers.
Scrapping of family reunification for refugees.
Reduction in the number of international students.
Controversies and Negotiations:
Wilders backpedaled on extreme views, including banning mosques, Islamic schools, and the Quran.
Ronald Plasterk, Wilders’ first choice for PM, withdrew due to allegations of medical patent fraud.
Cabinet Ministers:
15 other ministers installed alongside PM Schoof.
Femke Wiersma, agriculture minister, made her declaration in Frisian.
About Netherlands
The Netherlands, also known as Holland, is a country located in northwestern Europe.
Monarch: King Willem-Alexander
Prime Minister: Dick Schoof
Capital: Amsterdam
Currency: euro
10. India Placed in 'Regular Follow-Up' Category by FATF
Tags: International News
India has been categorized under the 'regular follow-up' by the Financial Action Task Force (FATF).
An Overview of the News
The FATF held its plenary meeting in Singapore from June 26-28, 2024.
This decision follows a review of India's efforts in implementing anti-money laundering, anti-terrorism financing, and anti-proliferation financing measures.
Alongside India, Russia, France, Italy, and the United Kingdom were also placed in the 'regular follow-up' category.
One country was added to the grey list, and others were categorized under 'enhanced follow-up'.
The FATF acknowledged India's efforts in combating money laundering and terrorist financing but highlighted the need to address delays in concluding prosecutions related to these crimes.
FATF Evaluation of India:
India joined FATF in 2010 and underwent its first evaluation in the same year.
The next evaluation was delayed due to the COVID-19 pandemic and occurred in 2023.
India must submit a report addressing FATF concerns by October 2027.
Implications for India:
Being in the regular follow-up category enhances ease of financial transactions globally.
Easier access to international capital markets at lower costs for Indian companies.
Increased foreign investment due to enhanced confidence in India's legal and payment systems, including UPI.
About FATF:
Established in 1989 by G-7 countries to set global standards on AML/CFT/PF.
Inter-governmental body issuing recommendations and assessing countries' actions against financial crimes.
Collaborates with IMF, World Bank, UN, and FATF-style regional bodies.
Headquartered in Paris, France, with 39 current members excluding Russia (suspended since 2023).
President: T Raja Kumar of Singapore.
PMLA 2002:
Based on FATF recommendations, Prevention of Money Laundering Act (PMLA) 2002 combats money laundering in India.
Enforced by the Directorate of Enforcement (ED) since July 1, 2005.
