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Posted 24 Apr 2024

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WTO Agreement on Safeguards

  • India and other members of the World Trade Organisation (WTO) criticised European Union’s decision to extend its existing safeguard measure on steel products.
  • Under WTO Agreement on Safeguards, members can temporarily restrict imports of a product if it threatens to cause serious injury to their domestic industry.

 

  • About WTO Agreement on Safeguards
    • Agreement prohibits grey-area measures – using bilateral negotiations to pursue exporting countries to restrain exports voluntarily. 
    • It sets time limits on all safeguard actions, which should not last more than four years, although this can be extended up to eight years.
  • Tags :
  • WTO
  • Import

ASEAN Future Forum

  • External Affairs Minister for India participated virtually in the first ‘ASEAN Future Forum’, held in Hanoi, Vietnam.
    • ASEAN (Association of Southeast Asian Nations) is an intergovernmental organization aimed primarily at promoting economic growth and regional stability among its 10 members.

 

  • About ASEAN Future Forum
    • It was proposed by Vietnam at the 43rd ASEAN Summit in 2023.
    • It is a common platform for ASEAN member states as well as partner countries to share new ideas and policy recommendations.
    • It aims to contribute to promoting and shaping ASEAN’s development path.
  • Tags :
  • ASEAN
  • Regional Stability

Schengen Area

  • European Union (EU) has adopted new visa rules for Indian travellers to allow multiple-entry Schengen Visa with longer validity.

 

  • About Schengen area
    • It is world’s largest free travel area comprising 27 countries.
    • 27 countries include 23 of the 27 EU members and all members of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland).
    • Started in 1985 as an intergovernmental project between 5 EU countries– France, Germany, Belgium, the Netherlands and Luxembourg
  • Tags :
  • Schengen Area

Miyawaki Method

  • Embassy of Israel in India joined ‘Million Miyawaki’ project, a community-led initiative aimed at improving air quality in Indian cities through mass afforestation urban spaces.

 

  • About Miyawaki Method
    • Based on work of Japanese botanist Akira Miyawaki, it enhances green cover within a limited area.
    • It involves cultivating multi-layered forests that exhibit rapid growth and replicate natural biodiversity found in native forests.
    • Such forests lack some qualities of natural forests, like medicinal properties and ability to bring rain.
    • Benefits: Mitigate ecological impact of mining activities, creating carbon sinks, etc.
  • Tags :
  • Miyawaki Method

WHO Sodium Benchmarks

  • World Health Organization (WHO) has released the 2nd edition of its global sodium benchmarks for different food categories.

 

  • About Sodium Benchmarks
    • Part of a broader WHO initiative to reduce sodium consumption and prevent chronic conditions related to high blood pressure and obesity.
    • Benchmarks provide reference values for sodium content to assess progress in reducing sodium consumption.
    • For adults, WHO recommends less than 2000 mg/day of sodium (equivalent to less than 5 g/day salt).
  • Tags :
  • WHO Sodium Benchmarks

Compulsory Convertible Debentures (CCD)

  • Competition Commission of India approved subscription to CCD of Napino Auto and Electronics Limited by International Finance Corporation (IFC). 

 

  • About CCD
    • CCDs are debt instruments that are convertible into equity at a specified time or on happening of specified event(s).
    • These are hybrid securities as they initially behave like debt instruments but eventually convert into equity shares. 
    • It is often used by companies for raising long-term funds without immediately diluting equity shareholding of existing investors.
  • Tags :
  • Compulsory Convertible Debentures
  • Hybrid Securities

Telecom Technology Development Fund (TTDF)

  • C-DOT and IIT Jodhpur signed an agreement for “Automated Service Management in Network of 5G and beyond Using AI” under the TTDF

 

  • About TTDF
    • Launched by the Universal Service Obligation Fund (USOF), a body under the Department of Telecommunications. 
    • Aims to fund R&D in rural-specific communication technology applications and form synergies among academia, start-ups, industry, etc. to build and develop the telecom ecosystem.
    • The scheme entails grants to Indian entities to encourage and induct indigenous technologies tailor-made to meet domestic needs. 
  • Tags :
  • Telecom Technology Development Fund
  • Universal Service Obligation Fund
  • Research and Development

Pulicat Lake

  • Tamil Nadu government is planning to denotify a sizeable area of Pulicat Lake Bird Sanctuary.

 

  • About Pulicat lake
    • Located along the coast of Bay of Bengal at the border of Andhra Pradesh & Tamil Nadu.
    • Second largest brackish water lake in Indiaafter Lake Chilika in Odisha.
    • Sriharikota island separates lagoon from Bay of Bengal
    • It is fed mainly by the river Kalangi and the river Arani.
    • Supports largest congregation of Flamingos.
  • Tags :
  • Tamil Nadu
  • Bird Sanctuary
  • Andhra Pradesh
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