- India and other members of the World Trade Organisation (WTO) criticised European Union’s decision to extend its existing safeguard measure on steel products.
- Under WTO Agreement on Safeguards, members can temporarily restrict imports of a product if it threatens to cause serious injury to their domestic industry.
- About WTO Agreement on Safeguards
- Agreement prohibits grey-area measures – using bilateral negotiations to pursue exporting countries to restrain exports voluntarily.
- It sets time limits on all safeguard actions, which should not last more than four years, although this can be extended up to eight years.
- External Affairs Minister for India participated virtually in the first ‘ASEAN Future Forum’, held in Hanoi, Vietnam.
- ASEAN (Association of Southeast Asian Nations) is an intergovernmental organization aimed primarily at promoting economic growth and regional stability among its 10 members.
- About ASEAN Future Forum
- It was proposed by Vietnam at the 43rd ASEAN Summit in 2023.
- It is a common platform for ASEAN member states as well as partner countries to share new ideas and policy recommendations.
- It aims to contribute to promoting and shaping ASEAN’s development path.
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1 source- European Union (EU) has adopted new visa rules for Indian travellers to allow multiple-entry Schengen Visa with longer validity.
- About Schengen area
- It is world’s largest free travel area comprising 27 countries.
- 27 countries include 23 of the 27 EU members and all members of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland).
- Started in 1985 as an intergovernmental project between 5 EU countries– France, Germany, Belgium, the Netherlands and Luxembourg
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- Embassy of Israel in India joined ‘Million Miyawaki’ project, a community-led initiative aimed at improving air quality in Indian cities through mass afforestation urban spaces.
- About Miyawaki Method
- Based on work of Japanese botanist Akira Miyawaki, it enhances green cover within a limited area.
- It involves cultivating multi-layered forests that exhibit rapid growth and replicate natural biodiversity found in native forests.
- Such forests lack some qualities of natural forests, like medicinal properties and ability to bring rain.
- Benefits: Mitigate ecological impact of mining activities, creating carbon sinks, etc.
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1 source- World Health Organization (WHO) has released the 2nd edition of its global sodium benchmarks for different food categories.
- About Sodium Benchmarks
- Part of a broader WHO initiative to reduce sodium consumption and prevent chronic conditions related to high blood pressure and obesity.
- Benchmarks provide reference values for sodium content to assess progress in reducing sodium consumption.
- For adults, WHO recommends less than 2000 mg/day of sodium (equivalent to less than 5 g/day salt).
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1 source- Competition Commission of India approved subscription to CCD of Napino Auto and Electronics Limited by International Finance Corporation (IFC).
- About CCD
- CCDs are debt instruments that are convertible into equity at a specified time or on happening of specified event(s).
- These are hybrid securities as they initially behave like debt instruments but eventually convert into equity shares.
- It is often used by companies for raising long-term funds without immediately diluting equity shareholding of existing investors.
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1 source- C-DOT and IIT Jodhpur signed an agreement for “Automated Service Management in Network of 5G and beyond Using AI” under the TTDF.
- About TTDF
- Launched by the Universal Service Obligation Fund (USOF), a body under the Department of Telecommunications.
- Aims to fund R&D in rural-specific communication technology applications and form synergies among academia, start-ups, industry, etc. to build and develop the telecom ecosystem.
- The scheme entails grants to Indian entities to encourage and induct indigenous technologies tailor-made to meet domestic needs.
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1 source- Tamil Nadu government is planning to denotify a sizeable area of Pulicat Lake Bird Sanctuary.
- About Pulicat lake
- Located along the coast of Bay of Bengal at the border of Andhra Pradesh & Tamil Nadu.
- Second largest brackish water lake in Indiaafter Lake Chilika in Odisha.
- Sriharikota island separates lagoon from Bay of Bengal.
- It is fed mainly by the river Kalangi and the river Arani.
- Supports largest congregation of Flamingos.
