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• WHR 2024 released by UN Sustainable Development Solutions Network (UNSDSN).

• About WHR
  • Evaluates levels of happiness by 6 key variables: Healthy life expectancy, GDP per capita, Social support, Low corruption, Generosity, and Freedom.
  • Scores are based on individuals’ own assessments of their lives.
  • Key highlights of WHR 2024
    • India has been ranked 126 out of 143 countries.
    • Top 3 countries are Finland, Denmark, and Iceland, respectively.
    • Large gap of 6 points (on a scale of 10) between top (Finland) and bottom (Afghanistan) countries.

• National Highways Infra Trust (NHIT) completed largest InvIT monetization for National Highway stretches.
  • NHIT is an InvIT by National Highways Authority of India (NHAI).

• About InvIT
  • It is a Collective Investment Scheme similar to a mutual fund.
  • Enables direct investment from individual and institutional investors in infrastructure projects to earn a small portion of income as return.
  • Regulated by SEBI (Infrastructure Investment Trusts) Regulations, 2014.
  • Has a specific structure formed by four important components— trustee, sponsor, investment manager, and project manager.

• Bank of Japan ends negative interest rates, which was introduced in Japan in 2016. 

• About NIR
  • It is an unconventional monetary policy tool where central banks set target interest rates less than zero percent.
  • Aims to address deflationary pressure and recession in the economy by incentivizing consumers and businesses to spend or invest money, rather than leave it in their bank accounts.

• Other unconventional monetary policy instruments: Extended lending or Term-Funding Operations, Asset Purchase Programmes, etc.

• The forest departments of Kerala, Karnataka, and Tamil Nadu forged an interstate agreement to safeguard forest communities as well as animals under Schedule I of Wildlife Protection Act involved in conflict, and conserve ecosystems.
  • It specifies action plan for conservation and mitigating conflict situations, foster collaboration in intelligence sharing, exchange resources etc.
  • It resolved to conduct synchronised population estimation in protected areas.
  • An advisory board of wildlife conservation experts will be constituted to provide insights to enhance conflict mitigation strategies. 
  • It also called for Standard Operating Procedure (SOP) for managing human-animal conflict. 

• A new study finds that drainage canals for peatlands are a major source of carbon emissions.

• About Peatlands
  • Peatlands are terrestrial wetland ecosystems with waterlogged conditions which slow down the decay process which prevents plant material from fully decomposing.
  • Generally, found in permafrost regions towards poles and at high altitudes, in coastal areas, beneath tropical rainforest and in boreal forests.
  • These are some of the largest stores of carbon in the world.

• Indonesia is pioneering large-scale cultivation projects in East Lombok, with support and collaboration from India.

• About Seaweed
  • It is a common name for species of marine plants and algae that grow in the ocean as well as in rivers, lakes, and other water bodies.
  • Most are medium-sized and come in colours of red, green, brown, and black.
  • Properties: Low in calories due to its high content of fibre and water, but rich in minerals absorbed from seawater, and not a major source of protein.
  • Potential Benefits: Weight control, prebiotic food source for beneficial gut bacteria, antioxidant, etc.

• USA’s Environmental Protection Agency banned all forms of deadly carcinogen asbestos.
• Asbestos is a group of naturally occurring fibrous minerals having extraordinary tensile strength, poor heat conduction and resistance to chemical.
  • Main forms of asbestos are chrysotile (white asbestos) and crocidolite (blue asbestos).
  • Applications: Building materials, insulation, automobile parts etc.
  • Health impact: All types of asbestos are carcinogenic, causing lung cancer, mesothelioma, cancer of larynx and ovary, and asbestosis (fibrosis of the lungs).
  • India has not banned use of any type of asbestos.

• Researchers from IIT Madras developed a method for treating bauxite residue (known as Red Mud) using phosphoric acid to extract valuable materials from it.
  • Some such materials such as ceramic have dielectric and optical properties, with potential applications in electronic components and energy storage. 
• Red Mud is a byproduct of aluminium production.
  • It contains toxic heavy metals such as arsenic, lead, cadmium, chromium, vanadium and mercury.
  • Its high alkalinity makes it extremely corrosive and damaging to soil and life forms.

Bulgaria (Capital: Sofia)

• Recently, the Indian navy rescued hijacked Bulgarian ship “Ruen” and its crew. 

• Political features 
  • Located in Balkan Peninsula of Southeastern Europe and a member of European Union.
  • Bordering Countries: Turkey and Greece (South), North Macedonia and Serbia (West), Romania (North).
  • Surrounding water body: Black Sea.

• Geographical features
  • Major Rivers: Danube, Maritsa, Struma, Iskar
  • Mountain Ranges: Balkan Mountains, Rila, Pirin, Rhodopes
  • Highest Point: Mount Musala.