Home  /  Important International Institutions ( Page 3 )

Tag: Important International Institutions

Asian Development Bank (ADB)

In News Recently, the Asian Development Bank (ADB) has pared  its 2022-23 growth projection for India’s economy to 7% from 7.5% estimated in April, terming it a “modest downward revision”. The downward revision is driven by higher-than-anticipated inflation and monetary tightening. Asian Development Bank (ADB) About:  It is a regional development bank established on 19th […]

International Day of Peace

Context The International Day of Peace (“Peace Day”) is observed around the world each year on 21 September. International Day of Peace About: Established in 1981 by unanimous United Nations resolution 36/37. The UN General Assembly has declared this as a day devoted to strengthening the ideals of peace, through observing 24 hours of non-violence […]

Organization of the Petroleum Exporting Countries + (OPEC+)

In News OPEC+ is going to cut crude oil output by 100k barrels per day from October 2022. About OPEC+ Created in 2016  Backdrop: OPEC countries decided to ally with other oil-producing countries outside the group to cut down the global output of oil. Members: OPEC+ refers to a group of 23 oil-producing countries that […]

Weapons of Mass Destruction (WMD) Bill

In News Recently, the Weapons of Mass Destruction (WMD) Bill was passed by voice vote in Rajya Sabha. Major Highlights The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Amendment Bill, 2022, was introduced by the External Affairs Minister. Aim: It seeks to ban funding of weapons of mass destruction (WMDs). […]

Partnership for Global Infrastructure and Investment to counter BRI

In News Recently, the G7 launched an infrastructure investment plan to counter China’s Belt and Road Initiative. More about the plan: The recent G7 Leaders’ Summit in Germany, has officially launched the Partnership for Global Infrastructure and Investment (PGII). It is a joint initiative to fund infrastructure projects in developing countries.  The project, launched is […]

NATO’s Accession Protocol for Finland and Sweden

In News North Atlantic Treaty Organization’s (NATO’s) 30 allies signed an accession protocol for Finland and Sweden. More about the news: Signing of the protocol means both the countries can now participate in NATO meetings and have greater access to intelligence.  But will not be protected by the NATO defence clause – that an attack […]

14th BRICS Summit

In News Recently the 14th BRICS Summit which was held virtually came up with the Beijing Declaration. Major Highlights of the meet: Beijing Declaration: It states that BRICS supports talks between Russia and Ukraine.  The grouping is willing to support the United Nations’ and ICRC’s (The International Committee of the Red Cross) efforts to deliver […]

Agreement on Fisheries Subsidies (AFS)

In Context  Adoption of a new Agreement on Fisheries Subsidies (AFS) is one of the most promising outcomes of the recently concluded twelfth ministerial conference of the World Trade Organisation (WTO) . About Agreement on Fisheries Subsidies (AFS). It is the first-of-its-kind, sustainability-driven trade agreement . This is only the third instance of amending the […]

12th Ministerial Conference of the World Trade Organization

In News Recently, the World Trade Organization’s 12th Ministerial Conference was held in Geneva, Switzerland. Major Outcomes of  12th Ministerial Conference Meeting Curtailing harmful fishing subsidies: The WTO passed a multilateral agreement that would curb ‘harmful’ subsidies on illegal, unreported and unregulated fishing for the next four years, to better protect global fish stocks.  There […]

US Federal Reserve’s Rate Hike

In News Recently, the US Federal Reserve hiked interest rates by 0.75 percentage points which is the highest rate hike in 28 years in a bid to tame runaway inflation. About the United States Federal Reserve Central bank: The US is the world’s biggest economy and the Fed is the biggest central bank. The role […]