Daily Current Affairs Notes for 16 December 2022

The 6th Edition of Indo - Kazakhstan joint training exercise “KAZIND-22” is conducted at Umroi (Meghalaya) from 15 to 28 December 2022.

Overview

The 6th Edition of Indo - Kazakhstan joint training exercise “KAZIND-22” is scheduled to be conducted at Umroi, Meghalaya from 15 to 28 December 2022.

About exercise “KAZIND"

• Joint annual training exercise with the Kazakhstan Army was instituted in 2016 as Exercise Prabal Dostyk, which was later upgraded to a company level exercise and renamed as Ex Kazind in 2018.

Important facts

• Troops of the Kazakhstan Army, including troops from the regional command, 11 Gorkha Rifles and troops from the Indian Army will participate in the exercise.

• Aim of the exercise is to build positive military relations, imbibe each other’s best practices and promote the ability to operate together while undertaking counter terrorist operations in semi urban / jungle scenario, under a UN peace enforcement mandate. 

• This joint exercise will enable the two armies to train, plan and execute a series of combined tactical drills for neutralising of likely threats that may be encountered in UN peacekeeping operations.

• The scope of this exercise involves a Command Post Exercise (CPX) at the Battalion level and Company level Field Training Exercise (FTX) on sub-conventional operations.

• During the exercise, participants will engage in a variety of missions ranging from joint planning, joint tactical drills, basics of special arms skills, HADR and raiding a hostile target.

 

The value of global trade is set to reach a new record this year, increasing by about 12 per cent to an estimated $32 trillion, according to a UN report.

Overview

The value of global trade is set to reach a new record this year, increasing by about 12% to an estimated $32 trillion, according to a UN report that signaled a slowdown heading into 2023.

“The substantial trade growth during the last year was largely due to increases in the value of the trade of energy products,” the United Nations Conference on Trade and Development said in the report released Tuesday

What’s More The Report Pointed:

Trade in merchandise goods soared to $25 trillion, an increase of about 10% versus the prior year. Trade in services grew 15% year-over-year to nearly $7 trillion, according to the report.

About The Inflation:

The UN body expects the inflation-adjusted value of global trade will diminish next year because of the combined impact of geopolitical frictions, lower economic growth, higher prices for goods and record levels of global debt. Based on volumes, “trade continued to increase throughout 2022, a signal of resilient global demand,” the report stated.

About The Growth Prospects:

Weaker economic growth and inflation are likely to hamper international commerce in the year ahead. “While the outlook for global trade remains uncertain, negative factors appear to outweigh positive trends,” Unctad said.

 

SS Rajamouli-directed period movie ‘RRR’ has been nominated in two categories at the Golden Globe Awards to be held in January 2023.

Overview

SS Rajamouli-directed period movie ‘RRR’ has been nominated in two categories at the Golden Globe Awards to be held in January 2023. The Hollywood Foreign Press Association (HFPA) has nominated ‘RRR’ for Best Picture: Non-English language and Best Original Song Naatu Naatu. RRR’ follows a pre-Independence story woven around two real-life Indian revolutionaries: Alluri Sitarama Raju and Komaram Bheem, in the 1920s.

Starring Ram Charan and Jr NTR in the lead, the film was released worldwide in March in five languages. RRR is the only Indian film to make the final five out of a clutch of other entries from India, among them Gangubai Kathiawadi, Kantara, and Chhello Show.

Other Important facts about RRR:

• Earlier, there was a demand to send the film to Oscars as well, however, due to the official entry in that award function, this film was left behind.
• Recently, director SS Rajamouli has also received the New York Film Critics Circle Best Director Award for the film.
• ‘RRR’ is the only Indian film to make it to the International Award category.
• RRR has been released in many languages, this South film is being appreciated globally.

 

A group of nine rich industrialized nations approved a deal to provide Vietnam with $15.5 billion to help the Southeast Asian nation move faster from coal power to renewable energy.

Overview

A group of nine rich industrialized nations approved a deal to provide Vietnam with $15.5 billion to help the Southeast Asian nation move faster from coal power to renewable energy, cutting its climate-damaging pollution.

More About This Development:

The Group of Seven major economies, along with Norway and Denmark, said in a statement that the aim is to help Vietnam reduce its emissions to “net zero” by 2050, a goal which expert say needs to be met globally to cap global warming at 1.5 degrees Celsius (2.7 degrees Fahrenheit).

About This Initiative:

The Just Energy Transition Partnership with Vietnam is among a series of agreements that developing and rich nations are negotiating. The first such deal was signed with South Africa last year, and a similar agreement was reached with Indonesia last month.

Significance Of This Move:

“Vietnam is a dynamic, emerging economy at the heart of Southeast Asia,” British Prime Minister Rishi Sunak said. “The investment we are making today means the country can cut its emissions while simultaneously creating new jobs and growth.”

About The Transition:

The $15.5 billion of funding will come from public and private sources over the coming three to five years, much of it in the form of loans, according to the agreement.

By using the money to expand its electricity grid and increase renewable energy production, Vietnam will be able to bring forward its target for peaking emissions from 2035 to 2030. The country will also raise its 2030 target for electricity from renewable sources to 47% from a previous forecast of 36%.

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.