1 India won gold in the men’s event of Archery World Cup
India has won gold in the recurve men’s team event at the Archery World Cup in Shanghai, China . The trio of Indian archers Dheeraj Bommadevara, Tarundeep Rai and Praveen Jadhav defeated the reigning Olympic champions of South Korea to win the title. This is the first time that in the Archery World Cup final, India has registered victory by leaving behind the best archers. This has increased the chances of the Indian team participating in the upcoming Paris Olympics . India has so far won five gold, one silver and one bronze medal in this competition. Former world number-1 Deepika Kumari is looking for another medal in the women’s recurve individual semi-finals. Earlier, reigning Asian champion Jyoti Surekha Vennam won her fourth gold medal in the women’s compound individual category event. Priyansh won his first World Cup silver in the men’s individual compound category.
2 Iraq’s parliament passed a bill criminalizing homosexual relations.
Iraq ‘s parliament has passed a bill criminalizing homosexual relations . Violation of this law will result in a mandatory prison sentence of 7 years, which can be increased to 15 years . In the new law, there is a provision of 1 to 3 years in jail for gender change . According to officials, the government has taken this step to maintain religious and moral values in Iraqi society. Homosexual relations are legal in 130 countries, while in 60 countries it is considered a crime.
3 Center allows export of 99,150 MT onion to six countries Bangladesh, UAE, Bhutan, Bahrain, Mauritius and Sri Lanka
The government has allowed export of 99,150 MT of onion to six neighboring countries Bangladesh, United Arab Emirates (UAE), Bhutan, Bahrain, Mauritius and Sri Lanka. The ban on export of onion has been imposed to ensure adequate domestic availability and increase demand in the international market in the backdrop of estimated lower yield of Kharif and Rabi crops in 2023-24 as compared to the previous year. National Cooperative Exports Limited (NCEL), the agency exporting onion to these countries, procured the domestic onion exported through the e-platform at L1 prices and 100% to the agency or agencies nominated by the government of the destination country. Supply at fixed rate on advance payment basis. The rates offered by NCEL to buyers are based on the destination market and the prices prevailing in the international and domestic markets. The quota allotted for export to six countries is being supplied as per the demand made by the destination country. As the largest producer of onions in the country, Maharashtra is the major supplier of onions procured by NCEL for export.
4 Indian and Russian companies will manage the airport built by China in Sri Lanka
The Sri Lankan government has decided to hand over the management of the China-built Mattala Rajapaksa International Airport, Hambantota in the country to an Indian and Russian company . This information was given by the Sri Lankan government after the cabinet meeting on 26 April 2024. The Sri Lankan government will lease the management of Mattala Rajapaksa International Airport or Hambantota Airport to Shaurya Aeronautics (Pvt) Ltd of India and Airports of Regions Management Company of Russia for 30 years . The value of the contract has not been disclosed. Mattala Rajapaksa International Airport was built in Hambantota as Sri Lanka’s second international airport. The first international airport of Sri Lanka is Bandaranaike International Airport located in Colombo.
5 BLC Group of Nepal and Yotta Data Services Pvt Ltd of India signed agreement to set up data center in Nepal.
Third investment conference started in Kathmandu to release development projects and bring foreign direct investment for economic progress of Nepal . Nepal ‘s Prime Minister Pushpa Kamal Dahal Prachanda inaugurated the conference. One hundred and fifty-one projects were presented for investment in the conference. One thousand six hundred investors from more than 55 countries are participating in the conference. 23 exhibition stalls have been set up in the conference to provide detailed information about the projects. 20 projects have been mentioned in the special circular, mostly hydropower projects. The Federation of Nepalese Chambers of Commerce and Industry and the National Chamber of Commerce and Industry of Malaysia have signed bilateral agreements to explore trade and investment opportunities. Nepal’s BLC Group and India’s Yotta Data Services Private Limited have entered into an agreement to set up and operate a data center in Nepal .
6 China’s Shenzhou-18 crew launches to Tiangong space station
In the latest progress of China ‘s space program, the Shenzhou-18 mission successfully launched a three-man crew aboard the Shenzhou-18 spacecraft . Shenzhou-18 successfully lands on Chinese space station . The Shenzhou-18 spacecraft, known as the “Celestial Ship,” lifted off on a Long March-2F rocket from the Jiuquan Satellite Launch Center. The crew includes mission commander Ye Guangfu, as well as crewmates Li Kang and Li Guangsu, who have diverse backgrounds in space flight and aviation. After reaching orbit, the spacecraft conducted an automated rendezvous to dock with the Tiangong Space Station, located approximately 400 km above Earth.
7 RBI starts on tap licensing for SFB banks
The Reserve Bank of India (RBI) has permitted Small Finance Banks (SFBs) to apply for universal bank license as per RBI’s on tap licensing norms . Small finance banks that wish to convert themselves into universal banks can apply for an SFB, universal bank license after meeting the criteria prescribed by the RBI. RBI has prescribed the following criteria for SFBs who wish to convert into universal banks which are as follows:
- Minimum of five years satisfactory performance;
- The bank should be listed on a recognized stock exchange;
- Minimum net worth of Rs 1,000 crore at the end of the previous quarter;
- Having capital to risk weighted ratio (CRAR);
- The bank should have made net profit in the last two financial years; And
- Gross non-performing assets should be less than or equal to 3 percent and net non-performing assets should be less than or equal to 1 percent in the last two financial years.
8 IRDAI’s insurance brainstorming in Hyderabad, discussion on insurance expansion
Insurance Regulatory and Development Authority of India (IRDAI) organized the 6th edition of Bima Manthan in Hyderabad on 25th and 26th April 2024 . Bima Manthan is a periodic meeting of IRDAI with the top leadership of insurance companies operating in India to discuss issues related to the insurance sector. IRDAI Chairman Debashish Panda and other members of the regulatory body participated in the insurance brainstorming. Chief Executive Officers (CEOs) of general insurance, life insurance and standalone health insurance companies also participated in this brainstorming. Bima Manthan focused on the burning issues facing the industry, especially the recent steps taken by IRDAI to reform the insurance sector. It also discussed IRDAI’s insurance trinity – Insurance Sugam, Insurance Extension and Insurance Carriers – designed by the insurance regulator to make insurance accessible to all and increase insurance penetration in the country. 2024 is also the silver jubilee year of IRDAI. IRDAI aims to achieve insurance for all by 2047 while promoting ease of doing business and welfare of policy holders.
9 IndiGo enters wide-body market, orders 30 Airbus A350-900
IndiGo has placed an order for 30 A350-900 widebody aircraft with European aircraft manufacturer Airbus on April 25, 2024 . Its deal is estimated to be between $4 billion and $5 billion . To meet the growing demand in the country’s air travel market, the Indian aeronautical services company had ordered four aircraft last year in 2023. Last year in February 2023, Tata Group-run Air India Group had ordered 470 aircraft. For this, a deal was signed with 250 European aircraft manufacturer Airbus while 220 with American aircraft manufacturer Boeing.
10 India’s services sector exports to grow by 11.4% in 2023: UNCTAD
According to a recent report by the United Nations Trade and Development (UNCTAD) , Indian services sector exports grew by 11.4 per cent to $345 billion in the calendar year 2023 (January-December) despite the current global uncertainties. However, China’s services exports witnessed a 10.1 per cent decline in the same period to $381 billion . India’s services imports declined marginally by 0.4 percent to $248 billion this year as compared to last year. According to UNCTAD, world services sector exports are expected to reach US$7.9 trillion in 2023, with an increase of 8.9% compared to 2022. The main reason for the growth in services sector exports was the growth in the international travel sector. The global travel services sector saw a 40% growth in exports. The transport sector recorded a negative growth of 12 percent. According to the report, services, many of which can be traded digitally, registered a growth of more than 7% in each quarter through 2023.
11 Italian Prime Minister Meloni invites India for G7 summit in June 2024
Italian Prime Minister Georgia Meloni has sent an invitation to Indian Prime Minister Narendra Modi to attend the Group of Seven (G7) Outreach Session to be held in Borgo Egnazia, Apulia, Italy from 13 to 15 June 2024. Currently, the presidency of the G7 is held by Italy. PM Meloni called PM Modi and personally invited him. Prime Minister Narendra Modi, in his post on social media platform X (formerly Twitter), thanked PM Meloni and wished Italy on its Liberation Day celebrations. In Italy , April 25 is celebrated every year as Liberation Day to celebrate the country’s liberation from Nazi occupation and the end of fascist rule.
12 Harshit Kumar won gold medal in the 21st Under-20 Asian Athletics Championship
Indian athletes continued their medal winning streak at the 21st Under-20 Asian Athletics Championships 2024, with Harshit Kumar winning the gold medal in the hammer throw event . At the end of the third day of the event, Indian athletes won five medals – one gold, two silver and two bronze. The total number of medals won by Indian athletes is 18. Hrithik won the first medal for India in the championship. He won a silver medal in the men’s discus throw event. Harshit Kumar won the gold medal for India in the hammer throw event with a throw of 66.7 meters. Prateek won the bronze medal in the same event with a throw of 65.97 meters. Lakshita Sandilia, who won the gold medal in the competition held in Yecheon last year, had to settle for the silver medal in the 800 meter race with a timing of 2 minutes 07.10 seconds. The mixed relay team of P. Abiram, Kanista Tina, Navpreet Singh and Sandramol Sabu won the silver medal with a timing of 3 minutes 24.86 seconds. Shriya Rajesh won the bronze medal in the women’s 400m hurdles with a timing of 59.20 seconds.
13 World Workplace Safety and Health Day: 28 April
World Day for Safety and Health at Work is an annual international campaign observed on 28 April to promote safe and healthy working conditions for all workers . The day aims to raise awareness about the importance of occupational safety and health and to honor those who have suffered injuries, illnesses or lost their lives due to work-related accidents or illnesses.