1. G7 countries pledge to phase out imports of Russian oil
Tags: Russia-Ukraine International News
The Group of Seven (G7) countries have pledged to ban or phase out Russian oil imports over the Ukraine dispute.
The announcement came as the G7 held its third meeting this year via video conference, which was also attended by Ukraine's President Volodymyr Zelensky.
The meeting was called to discuss support for Ukraine, and additional measures against Moscow, including on energy.
G7 leaders have personally criticised President Vladimir Putin for his actions in Ukraine.
The leaders celebrated the end of World War II in Europe following the surrender of German forces to the Allied Powers on 9 May 1945.
Russia has been accused of violating international rules-based order, in particular the United Nations Charter.
All participants were called upon to join the G7's support for the Ukrainian people and refugees and help rebuild Ukraine.
About G7
The G7 or the Group of Seven is a group of the seven most advanced economies.
The seven countries are Canada, the USA, UK, France, Germany, Japan and Italy.
It was formed in 1975.
G7 countries meet annually to discuss issues of common interest like global economic governance, international security and energy policy.
All the G7 countries and India are a part of G20.
The G7 does not have a fixed headquarters.
The UK currently chairs the G7 and has invited India along with Australia, the Republic of Korea and South Africa as guest countries for the G7 summit.
2. Sri Lankan president declares state of emergency for second time
Tags: Latest International News
Sri Lankan President Gotabaya Rajapaksa declared a state of emergency for the second time in five weeks on 6 May. Extensive powers have been given to the security forces.
Trade Unions halted public transport, blaming Rajapaksa for the economic crisis.
There has been unrest in Sri Lanka for several weeks due to the economic crisis.
As street protests intensified in Sri Lanka, Gotabaya first declared a state of emergency on 1 April, as citizens went through an economic crunch for food, fuel and medicines.
Process of declaring an Emergency in Sri Lanka
The power to declare a state of Emergency is vested in the President.
It is imposed under Article 155 of the Constitution of Sri Lanka.
The Public Security Ordinance (PSO) of 1947 provides the legal framework for a proclamation of emergency.
Under the Ordinance, a state of emergency may be declared "where the President is of the opinion that it is expedient to do so in the interest of public safety and the preservation of public order."
Emergency rules are valid for one month, but the President must seek ratification every 14 days for proclamations or extensions beyond one month.
Causes of economic crisis in Srilanka
Organic agricultural policy cut the government’s tax revenue.
Policy failure
COVID-19 hit Sri Lanka’s key foreign revenue earning sectors
Fast draining foreign reserves, a glaring trade deficit, and a related Balance of Payments problem.
Huge foreign loan and the drop in domestic production
The value of the Sri Lankan rupee has fallen to 300 against the US dollar, putting importers in trouble.
3. Ukraine and Britain (UK) have signed a preferential trade agreement
Tags: International News
%20have%20signed%20a%20preferential%20trade%20agreement%20copy.jpg)
Ukraine and Britain (UK) have signed a preferential trade agreement for the abolition of import duties and tariff quotas.
By signing this agreement Ukraine and the UK have legally abolished import duties and tariff quotas in bilateral trade.
The Preferential Trade Agreement will be valid for 12 months.
The agreement is set to promote exports of high value-added goods such as flour, cereals, dairy products, poultry, tomato paste, honey, corn, wheat, juice, mushrooms and sugar from Ukraine.
Recently the European Union also decided to abolish tariffs and quotas on Ukrainian industrial goods and food items.
About Ukraine-
Ukraine is a country located in Eastern Europe. It borders Russia in the east, Belarus, Poland, Slovakia in the north, Hungary in the west, Romania in the south and Moldova and the Black Sea in the south and the Black Sea and Azov Sea.
Capital - Kyiv
President- Volodymyr Zelensky
Prime Minister- Volodymyr Groysman
currency - hryvnia
4. North Korea fires ballistic missile
Tags: Science and Technology International News
North Korea has test fired an intercontinental ballistic missile. Regarding the test of this missile, Kim Jong Un, describing it as a display of his nuclear power, said that it has been prepared to prevent any kind of military action from the US.
Pyongyang, which is the nuclear arsenal of North Korea, has conducted 14 weapons tests since January, including firing an intercontinental ballistic missile at full-range for the first time since 2017.
Last week, Kim oversaw a huge military parade, vowed to rapidly expand and improve his nuclear arsenal, and warned of possible attacks.
North Korea fired the ballistic missile from the Sunan Airfield near Pyongyang, the site of recent ICBM tests.
The missile flew 470KM (300 miles) and reached an altitude of 780KM, it was a "blatant violation of UN Security Council resolutions."
The name of this intercontinental missile of North Korea is known as Hwasong-17.
This ballistic missile is the largest liquid-fueled missile ever launched by any country from a road mobile launcher.
About Intercontinental Ballistic Missiles (ICBMs)
It is a land-based, nuclear-armed ballistic missile with a range of more than 5,600 km.
The first ICBMs were deployed by the Soviet Union in 1958, the US followed the next year.
India, Russia, the United States, China, Israel, the United Kingdom, France and North Korea are the only countries that have ICBMs.
5. India will be the official country of honour at Cannes Film Market
Tags: Latest Popular International News
India will take part as the official country of honour at the Cannes Film Festival to be held from May 17 to May 28.
This is the first time a country will take part in the 'Honour of Country' at the Cannes Film Festival.
The Cannes Film Festival, held annually in Cannes, France, is the 75th edition of Cannes.
India at Cannes Film Festival 2022-
India's Information and Broadcasting Minister Anurag Singh Thakur will participate in the festival and deliver the welcome address.
Actress Deepika Padukone will be seen as a jury in the main feature film competition at this year's Cannes Festival.
Renowned Indian author Satyajit Ray's "Pratidwandi" (1970) and Aravindan Govindan's "The Circus Tent" will be screened at the Cannes Classics strand of the festival.
In addition, the festival will also see a special screening of Indian filmmaker Shaunak Sen's Sundance Grand Jury Prize winner "All That Breathes".
6. 4th edition of the International Conference on Disaster Resilient Infrastructure
Tags: Summits International News
Prime Minister Narendra Modi today addressed the inaugural session of the 4th edition of the International Conference on Disaster Resilient Infrastructure (ICDRI) via video message.
The fourth edition of ICDRI was organised in a hybrid format in New Delhi from 4-6 May 2022.
ICDRI 2022 will engage with decision makers, practitioners and communities around the world to discuss challenges, identify good practices, develop collaborations and promote concrete actions.
This will include multi-sectoral and multi-country discussions around ecologically sensitive design for infrastructure transition, risk governance and finance, innovation and building human-centred, resilient.
About ICDRI
The International Conference on Disaster Resilient Infrastructure (ICDRI) is the annual conference of the Coalition for Disaster Resilient Infrastructure (CDRI).
It brings together member states, organisations and institutions to strengthen global discussion on disaster and climate resilient infrastructure.
In 2018 and 2019, the first and second international workshops on Disaster Resilient Infrastructure took place in New Delhi, India.
ICDRI 2021 was hosted virtually.
7. World Press Freedom Index : India slips to 150th position from 142nd
Tags: National Latest Popular International News
India’s ranking in the World Press Freedom Index has fallen down to 150th position from last year’s 142nd rank out of 180 countries.
Highlights of the 2022 report
Best performing countries
Norway– 1st
Denmark– 2nd
Sweden– 3rd
Estonia– 4th
Finland– 5th
Worst performerming countries
North Korea remained at the bottom of the list.
Russia is placed at 155th position, slipping from 150th last year.
According to the global media watchdog, China climbed two places to the 175th position, from 177th place last year.
Performance of India;s neighbourhood countries
Apart from India, the ranking of its neighbouring countries has also declined except Nepal.
While Pakistan is ranked 157th, Sri Lanka is at 146th, Bangladesh at 162nd and Myanmar at 176th.
About Press Freedom Index
It has been published by Reporters Without Borders every year since 2002.
This is based on the organisation's own assessment of countries' press freedom records in the last year.
The index ranks 180 countries and territories according to the level of freedom available to journalists.
The index is prepared on the basis of assessment of the level of pluralism, media freedom, media environment and self-censorship, legal framework, transparency as well as the quality of the existing infrastructure for news and information.
8. PM Modi, German Chancellor Olaf Scholz co-chair sixth edition of IGC in Berlin
Tags: Summits International News
Prime Minister Narendra Modi and German Chancellor Olaf Scholz co-chaired the 6th edition of the India-Germany Inter-Governmental Consultations-IGC in Berlin.
The two leaders highlighted key aspects of bilateral relations as well as shared perspectives on regional and global issues.
PM Modi emphasised that the India-Germany partnership can serve as an example of success in a complex world.
He also invited German participation in India's Atmanirbhar Bharat Abhiyan.
It was the prime minister's first IGC with Chancellor Scholz and also the first government-to-government consultation of the new German government, which took office in December last year.
The biennial IGC is a unique dialogue format with the participation of several ministers from both sides.
Earlier, Prime Minister Modi held bilateral discussions with the German Chancellor.
The two leaders reviewed the full range of bilateral relations between India and Germany, including promoting trade as well as cultural ties.
9. PM participates in unveiling of Sardar Patel’s statue in Canada
Tags: Latest International News
Prime Minister Narendra Modi attended a ceremony in Markham, Canada on May 1, where a statue of Sardar Patel was unveiled at the Sanatan Mandir Cultural Centre.
PM Modi lauded the unveiling of the statue as a great initiative by the diaspora to deepen cultural ties with India.
He said that the statue of Sardar Patel would not only strengthen the cultural values but would also become a symbol of relations between the two countries.
He said, India is not only a nation, but also an idea and culture.
He said that India is that high level idea which talks of 'Vasudhaiva Kutumbakam'.
India-Canada relation
India-Canada bilateral relationship is based on the shared values of democracy, pluralism, and extended economic engagement.
Relations between the two countries are based on shared democratic values, the multi-cultural, multi-ethnic and multi-religious nature of the two societies, and people-to-people ties.
The visit of the Prime Minister of India to Canada in 2015 has transformed the bilateral relationship into a strategic partnership.
Both the countries pursue bilateral relations through the following dialogue mechanisms-
Joint Working Group on Higher Education(Since 2019)
Ministerial Level – Strategic, Trade and Energy Dialogue
Other sector specific joint working groups
Joint Committee Meeting on Civil Nuclear cooperation
India-Canada Strategic Dialogue by the External Affairs Ministers of both nations
Bilateral trade between India and Canada is worth US$ 5 billion.
More than 400 Canadian companies have a presence in India, and over 1,000 companies are actively trading in the Indian market.
India exports pharma, iron and steel, chemicals, gems and jewellery, nuclear reactors and boilers to Canada.
Imports include minerals, ores, vegetables, fertiliser, paper and pulp.
10. Pakistan gets $8 billion in financial support from Saudi Arabia
Tags: International News
Saudi Arabia has agreed to provide a relief package of about 8 billion US dollars to Pakistan.
This package is expected to give a big help to Pakistan in recovering its dwindling foreign exchange reserves and troubled economy.
At present, Pakistan is beset with serious financial challenges due to high rate of inflation, dwindling foreign exchange reserves, severe current account deficit and weakening of its currency.
The agreement was signed during the visit of Pakistan Prime Minister Shahbaz Sharif to Saudi Arabia.
It provides for funding for oil, additional funds through deposits or succulents, and advances of $4.2 billion in facilities.
Pakistan had proposed to increase the funding for oil from $ 1.2 billion to $ 2.4 billion, which Saudi Arabia accepted.
It was also agreed that the existing deposits of $3 billion would be rolled over for an extended period up to June 2023.
Other Financial support of UAE to Pakistan
Saudi Arabia provided a $3 billion deposit to the State Bank of Pakistan in December 2021.
The Saudi oil facility became operational in March 2022, receiving $100 million for Pakistan to purchase oil.
This oil-rich Gulf country had given a package of $ 7.5 billion to Pakistan during the last term of the PML-N government (2013-18).
In the PTI-led government headed by former prime minister Imran Khan, Saudi Arabia provided a $4.2 billion package, including a $3 billion deposit and a $1.2 billion oil facility for one year, and linked it to the IMF program
Pakistan’s foreign exchange reserves have depleted by $6 billion in the last six to seven weeks and nosedived to $10.5 billion.
Pakistan needs financial assistance of $ 9-12 billion by June 2022 to prevent depletion of foreign exchange reserves.
