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China Extends $500 mn Loan to Sri Lanka

In News Sri Lanka inked an agreement with the state-run China Development Bank for a loan of USD 500 million. About This USD 500 million loan is the second installment of the USD 1 billion loan (signed before), out of which USD 500 million was released in 2020. Beijing-based Asian Infrastructure Investment Bank (AIIB) also […]

Italian Marines Case

In News Recently, the Supreme Court (SC) has held that the case against two Italian marines will be closed only after Republic of Italy deposits with it Rs. 10 crore as compensation to victims. Background In February 2012, two Indian fishermen onboard fishing vessel St Antony were gunned down near Lakshadweep islands by two Italian […]

Freedom of Navigation Operations (FONOPs)

In News Recently, India had conveyed its concerns to the US over an American warship (USS John Paul Jones) transiting through the country’s exclusive economic zone (EEZ) without prior consent. About India’s domestic laws hold that any country carrying out military maneuvers in its exclusive economic zone (EEZ) must provide prior notification. While a country […]

MoU between India and Japan

In News Recently, Memorandum of Understanding (MoU) signed between India and Japan in the areas of Academic and Research Cooperation and Exchange. Key Takeaways The pact was signed between the National Atmospheric Research Laboratory (NARL) and the Department of Space and Research Institute for Sustainable Humanosphere (RISH), Kyoto University for academic and research cooperation and […]

BRICS Finance Ministers and Central Bank Governors Meeting

In News Recently, India has virtually hosted a Meeting of BRICS Finance Ministers and Central Bank Governors. Key Highlights of the Meeting Chaired by: Jointly by the Union Minister for Finance and Corporate Affairs and the Governor of Reserve Bank of India (RBI). This was the first meeting of the BRICS Finance Ministers and Central […]

India Netherlands Strategic Partnership

In News India and the Netherlands agreed on a strategic partnership on the water during the virtual summit. Key Highlights They discussed broadening bilateral cooperation in new areas of water, including water budgeting, cost-effective, decentralised treatment technologies, converting wastewater to energy. Both countries reaffirmed the commitment to multilateralism and agreed to work together towards challenges […]

India-Seychelles High-Level Virtual Meet

In News Prime Minister of India and President of the Republic of Seychelles jointly inaugurated a range of Development Assistance Projects at India-Seychelles High-Level Virtual Event that was held recently. Key Highlights of  Cooperation Projects Magistrates’ Court building Both the countries jointly inaugurated the new Magistrates’ Court building in Seychelles. The new Magistrates’ Court built […]

Italian Marines Case

In News The Supreme Court is hearing the government’s plea to close criminal proceedings pending in India against two Italian marines accused of killing two fishermen off the coast of Kerala in 2012. Italian Marine Case In Feb 2012, two Italian Marines Massimiliano Latorre and Salvatore Girone on board an Italian oil tanker “Enrica Lexie” […]

Reviewing Oil Import Contracts

In News Recently, the Government of India has asked the refiners to review their contracts for buying crude oil from Saudi Arabia and negotiate more favourable terms. India, the world’s third-largest consumer of oil, hopes to use the might of its market to change the terms of engagement with big suppliers. Background Oil producers cartel […]

Suez Canal Crisis

In News Recently, the cargo ship ‘Ever Given’ has been finally freed after spending almost a week stuck in the Suez Canal. Suez Canal Located in Egypt, the artificial sea-level waterway was built between 1859 and 1869, linking the Mediterranean Sea and the Red Sea. As the shortest route between the Atlantic Ocean and lands […]