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COP25 to take place in Madrid
The United Nations has confirmed that this year's climate change talks will take place in Madrid in December, after Chile withdrew as host this week because of massive street protests in the South American country.
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#COP25 #Madrid #UnitedNations #UNFCCC #SouthAmerican

Mumbai and Hyderabad joined UCCN
UNESCO has announced that Mumbai and Hyderabad have been included in its network of 'Creative Cities' on the occasion of World Cities Day 2019 on 31 October 2019.
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#Mumbai #Hyderabad #UCCN #UNESCO #CreativeCities

AFSPA in J&K and Ladakh notified
The Union Cabinet Secretariat has notified rules reiterating that the Ministry of Home Affairs (MHA) will be the authority on deciding the imposition of AFSPA in the Union Territories of Jammu and Kashmir (J&K) and Ladakh.
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#AFSPA #Ladakh #MHA #SpecialPowersAct #ArmedForces

China rolls out 5G telecom services
China’s three major state-run telecom operators have unveiled their 5G network, as the country aims at becoming the global leader in next generation telecom technology surpassing the US and other western nations.
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#Chinarolls #5Gtelecomservices #telecomservices #5Gnetwork

Smallest ever black hole
Space scientists seem to have discovered the smallest black hole ever to get detected till now that might come under a totally different class of objects.
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#blackhole #suns #star #OhioStateUniversity #gravity
Today's Headlines - 25 August 2023
BRICS currency in BRICS Summit
GS Paper - 2 (International Relations)

Brazil's President called for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations. Luiz Inacio Lula da Silva made the proposal at a BRICS summit in Johannesburg. Officials and economists have pointed out the difficulties involved in such a project, given the economic, political and geographic disparities between Brazil, Russia, India, China and South Africa.

Why does Brazil want a BRICS currency?

Brazil's president doesn't believe nations that don't use the dollar should be forced to trade in the currency, and he has also advocated for a common currency in the Mercosur bloc of South American countries.
A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session.
What do other BRICS Leaders think?

South African officials had said a BRICS currency was not on the agenda for the summit.
In July, India's foreign minister said, "there is no idea of a BRICS currency". Its foreign secretary said before departing for the summit that boosting trade in national currencies would be discussed.
Russian President Vladimir Putin said the gathering, which he attended via videolink, would discuss switching trade between member countries away from the dollar to national currencies.
China has not commented on the idea. President Xi Jinping spoke at the summit of promoting "the reform of the international financial and monetary system".
Is the US Dollar in trouble?

BRICS leaders have said they want to use their national currencies more instead of the dollar, which strengthened sharply last year as the Federal Reserve raised interest rates and Russia invaded Ukraine, making dollar debt and many imports more expensive.
Russia's sanctions-imposed exile from global financial systems last year also fuelled speculation that non-western allies would shift away from the dollar.
The objective, irreversible process of de-dollarisation of our economic ties is gaining momentum, Putin told the summit.

#upsc #news #headline #brics #currency #summit #internationalrelations #bricsnations #investment #ratefluctuations #vulnerability #lunae #economic #political #geographic #disparities #brazil #russia #india #china #southafrica #currency #mercosur #southamerican #leaders #videolink #trade #indiaforeignminister #USDOLLAR #ukraine #globalfinancial #economic