Daily Current Affairs (DCA) 13 April, 2025

Daily Current Affairs Quiz
13 April, 2025

International Affairs

1. Global Carbon Tax on Shipping Industry

Context:

In a landmark decision, India and 62 other countries have voted in favor of implementing the world’s first-ever global carbon tax targeting the shipping industry, during a key meeting at the International Maritime Organisation (IMO) headquarters in London. This marks a significant step in international climate regulation aimed at curbing emissions in the maritime sector.

Key Highlights of the Carbon Tax Agreement

• Industry-Wide Scope: First global carbon pricing mechanism applied to an entire industry
• Implementation Year: The tax will come into effect from 2028
• Revenue Projection: Estimated to raise up to $40 billion by 2030
• Objective: To push the shipping industry towards low-emission fuels and cleaner technologies

Emissions & Climate Targets

• Projected Impact: Carbon pricing is expected to reduce shipping emissions by only 10% by 2030
• IMO Climate Goal: At least 20% reduction in emissions by 2030
• Revenue Usage: All proceeds will be ring-fenced for decarbonising the maritime sector

Geopolitical and Diplomatic Dynamics

• Supporters: 63 nations including India, China, Brazil, and several small island states
• Opposition: Oil-exporting countries like Saudi Arabia, UAE, Russia, Venezuela
• U.S. Stance: The United States did not participate in negotiations and was absent during the vote

Concerns and Criticism

• Climate Finance Exclusion: The agreement excludes contributions to broader climate finance, sparking dissatisfaction among developing nations
• Equity Concerns: A coalition of over 60 countries from the Pacific, Caribbean, Africa, and Central America called for a share of revenues to support vulnerable economies
• Tuvalu, representing Pacific Island nations, criticized the lack of transparency and weak incentives for clean fuel adoption

Strategic Importance

• Sets a global precedent for taxing emissions in a hard-to-abate sector
• Creates momentum for climate-aligned shipping policies
• Highlights the growing divide between industrialized and developing countries on climate finance priorities

The International Maritime Organization (IMO)

The International Maritime Organization is a specialized agency of the United Nations responsible for regulating maritime transport. The IMO was established following agreement at a UN conference held in Geneva in 1948 and the IMO came into existence ten years later, meeting for the first time on 17 March 1958. 

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National Affairs

1. Article 200: Governor’s Assent to Bills

Context:

In a first for India, the Tamil Nadu government has notified 10 State Bills into law without receiving the assent of either the Governor or the President. This unprecedented move comes after a Supreme Court ruling that such Bills, once re-adopted by the Assembly and sent to the President, are “deemed to have received assent” if no action is taken.

Key Highlights

• Historic First in Indian Legislature
  • Tamil Nadu is now the first Indian state to enact laws without executive assent, relying entirely on the Supreme Court’s legal interpretation of “deemed assent.”
• Empowering State-Run Universities
  • Most of the 10 Acts aim to transfer the authority to appoint Vice-Chancellors from the Governor (in his role as Chancellor) to the State Government, ensuring more direct control over higher education institutions.
• Supreme Court Verdict as Foundation
  • The Supreme Court ruled that delayed or absent action by the President or Governor after a Bill is re-passed and forwarded can be interpreted as tacit approval, allowing the Bills to become law.

Article 200: Governor’s Assent to Bills

What Article 200 States

When a Bill is passed by the Legislative Assembly (and the Legislative Council, if applicable), it must be presented to the Governor. At this point, the Governor has the following options:

• Assent to the Bill – The Bill becomes law.
• Withhold assent – The Bill is effectively vetoed (though limited by constitutional constraints).
• Reserve the Bill for the consideration of the President – Especially applicable in sensitive or constitutionally significant matters.

Provisos Explained

First Proviso: Power to Return a Bill

• Applies only to non-Money Bills.
• The Governor can return the Bill to the legislature with a message:
  • Recommending reconsideration of the entire Bill or specific provisions.
  • Suggesting amendments.
• If the legislature passes the Bill again (with or without amendments) and resends it, the Governor is constitutionally bound to give assent. He cannot withhold assent in the second instance.

Second Proviso: Reservation for Presidential Consideration

• The Governor must reserve the Bill for the President if, in his opinion, it:
  • Derogates from the powers of the High Court, and
  • Endangers the constitutional position of the High Court.
• This provision ensures the independence and integrity of the judiciary, particularly the High Courts.

Judicial Interpretation and Current Relevance

In light of recent Supreme Court rulings (April 8, 2025), Article 200 is now interpreted with clear timelines and limitations:

• The Governor cannot exercise a ‘pocket veto’ (i.e., delay action indefinitely).
• If the legislature resubmits a Bill after reconsideration, assent is mandatory.
• Reservation for Presidential consideration must be limited, justified, and not based on political grounds.

Key Takeaway

Article 200 upholds democratic governance by:

• Ensuring legislative supremacy within States,
• Preventing arbitrary delays or political stalling, and
• Protecting the role of High Courts through constitutional checks.

Implications for Governance and Federalism

• Asserting State Autonomy
  • The development is seen as a strong assertion of federal values and legislative independence, especially in sectors like education where States seek greater control.
• Reducing Executive Overreach
  • Legal experts suggest that this sets a constitutional precedent that discourages prolonged withholding of assent by the Governor or President, thus ensuring smoother lawmaking.

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2. Saras Mk2 Civilian Aircraft

Context:

The Saras Mk2, an upgraded version of India’s indigenously developed civilian aircraft, is expected to conduct its first test flight by December 2027, according to Abhay Pashilkar, Director of CSIR-National Aerospace Laboratories (CSIR-NAL). The aircraft aims to fill critical gaps in regional connectivity and could potentially be procured by the Indian Air Force (IAF).

Key Features and Objectives

• Capacity: 19-seater aircraft, ideal for short-haul passenger transport.
• Use Cases:
  • Ferrying passengers from towns lacking large airports
  • Operations as chartered planes
  • Deployment as air ambulances
• Military Interest: IAF has shown interest in procuring at least 15 units, pending successful trials.

Development Timeline and Challenges

• Origin: Based on the earlier 14-seater Saras prototype, which first flew in 2004.
• Setback: Progress halted after a 2009 crash during a test flight that killed three IAF personnel.
• Revival: Project was revived in 2016 with significant design upgrades:
  • Redesigned wings
  • Repositioned engines
• Manufacturing Partners:
  • Hindustan Aeronautics Limited (HAL) to be involved
  • Metallic parts outsourced
  • Fuselage requires large-scale vendors
• Avionics: Basic systems from Genesis; additional systems run on in-house NAL-developed computers
• In-House Systems:
  • Brake management
  • Environmental controls

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3. Study on Spatial Rainfall Trends Across India (2011-2020)

Context:

A recent study, published in Geophysical Research Letters on March 17, 2025, investigates the spatial rainfall trends in India over the last decade (2011-2020) using GSMaP-ISRO data. The findings reveal notable regional shifts in both the amount and timing of rainfall compared to the previous decade (2001-2010).

Key Findings

Regional Rainfall Variations

• West-Central India:
  • The study observed a slight increase in rainfall, about 2 mm per day, during 2011-2020 compared to 2001-2010.
• Indo-Gangetic Plain & Southern India:
  • These areas also experienced a slight increase in rainfall, but it was less than that seen in west-central India.
• Eastern India:
  • Contrarily, the eastern region saw a 1 mm per day decrease in rainfall during 2011-2020 compared to the previous decade, whereas the northeastern and eastern areas had experienced a slight increase in rainfall from 2001 to 2010.

Link to Vegetation and Soil Moisture

• Increased Vegetation in West-Central India:
  • The Normalized Difference Vegetation Index (NDVI), a measure of vegetation density, increased significantly in west-central India, from 0.2 to 0.4.
  • This rise in vegetation is linked to the increased rainfall in the region. Vegetation boosts transpiration, releasing water vapour into the atmosphere, thus influencing the local climate.
• Soil Moisture:
  • The study also observed a significant increase in soil moisture content in west-central India, positively correlating with the increased rainfall. In contrast, the eastern region saw a notable decrease in soil moisture over the same period.

Shift in Rainfall Timing

• Peak Rainfall Time:
  The timing of the peak rainfall has shifted in various regions:
  • In the Indo-Gangetic Plain, the peak rainfall time advanced by 2-4 hours.
  • In west-central India, the peak time was delayed by 1-2 hours.
• Influence of Aerosols:
  • The study linked these shifts to changes in aerosol loading in the atmosphere. In areas like the Indo-Gangetic Plain, where aerosol levels are higher, rainfall peaks earlier.
  • This was observed in a previous study in Beijing, where polluted conditions caused earlier rainfall peaks. Conversely, west-central India, with relatively lower aerosol levels, experienced a later peak in rainfall.

Implications and Insights

• The findings highlight the complex interplay between climate, vegetation, and aerosols in shaping India’s rainfall patterns.
• The shifts in rainfall timing and changes in regional rainfall can have significant implications for water management, agriculture, and climate adaptation strategies across the country.
• These results can also help in understanding the broader impacts of climate change on rainfall distribution and the hydrological cycle in India.

This study provides valuable insights into the spatial variability of rainfall in India, emphasizing the role of both biophysical and atmospheric factors, such as vegetation growth and aerosol concentration, in shaping rainfall patterns. The findings could assist in developing more accurate rainfall prediction models and climate adaptation strategies in the country.

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4. Supreme Court Ruling on Governor’s Power to Grant Assent to Bills

Context:

On April 8, 2025, the Supreme Court of India declared that Tamil Nadu Governor R.N. Ravi’s refusal to grant assent to 10 Bills passed by the Tamil Nadu State Legislature was illegal and erroneous. The Court emphasized the significance of cooperative federalism and addressed concerns regarding the increasing politicisation of the Governor’s office, particularly in Opposition-ruled states.

The Process of Granting Assent

Under Article 200 of the Constitution of India, the Governor has four options when a Bill, passed by the State Legislature, is presented for assent:

• Grant assent
• Withhold assent
• Return the Bill to the State Assembly for reconsideration
• Reserve the Bill for the President’s consideration (only in cases that threaten the functioning of the judiciary or undermine constitutional provisions)

However, Money Bills are automatically deemed to have received assent.

Governor’s Discretion and ‘Pocket Veto’

The Court dealt with the issue of the ‘pocket veto’, where the Governor indefinitely delays a decision on a Bill without formally returning it. The Court clarified that Article 200 precludes any such tactic. The term “shall” in the Article, coupled with the phrase “as soon as possible”, indicates that the Governor must act promptly and cannot delay the decision indefinitely.

• No unqualified veto: The Governor cannot simply reject a Bill passed by the State Legislature. Delays must be reasonable, and the Governor is constitutionally obliged to grant assent if the Bill is re-passed after reconsideration by the Legislature.

President’s Consideration

• Reservation for the President:
  • The Court ruled that the Governor cannot reserve a Bill for the President’s consideration after it has been returned to the Legislature and reconsidered. Reservation is only allowed if the Bill has changed significantly during reconsideration.
• Limitations:
  • The Governor cannot reserve Bills based on personal dissatisfaction or political considerations. It must be done in situations where there is a grave threat to democratic principles.
• Three-Month Deadline:
  • The Court set a three-month deadline for the President to decide whether to assent to Bills referred by the Governor. Delays beyond this period must be justified.

Prescribed Timelines

To prevent obstruction of the legislative process, the Court established strict timelines for both the Governor and the President:

• Governor’s Action:
  • If withholding assent or reserving a Bill, it must be done immediately and no later than one month.
  • If a Bill is returned to the Assembly after withholding assent, the Governor must return it within three months with a clear explanation for the decision.
  • If a Bill is re-passed by the Assembly, the Governor must grant assent within one month.
• President’s Decision: The President must decide on the Bill within three months of receiving it, with delays requiring justifiable reasons.

Judicial Review and the Deemed Assent

The Court emphasized that the Governor’s discretion must be open to judicial review to prevent the disregard of the will of the elected legislature. In this case, the Supreme Court invoked its extraordinary powers under Article 142 to deem the 10 pending Bills as having received assent, given the Governor’s disrespect for earlier rulings.

Implications of the Judgment

• Strengthening Federalism:
  • The ruling upholds the principles of cooperative federalism and ensures that State governments can pass legislation without undue delays by Governors.
• Clear Constitutional Remedy:
  • It provides Opposition-ruled states with a clear remedy for delays in granting assent, ensuring the smooth functioning of state legislatures.
• Preventing Abuse of Power:
  • The ruling ensures that the Governor’s power to withhold assent is not misused for political purposes. By instituting timelines and recognizing deemed assent, the Court prevents the politicisation of the Governor’s office.
• Broader Impact:
  • This judgment could serve as a precedent for judicial intervention in other areas, such as delays in judicial appointments or actions by the Union government on the collegium’s recommendations.

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Science & Tech

1. IDF Launches Type 5 Diabetes

Context:

At the World Diabetes Congress 2025 held by the International Diabetes Federation (IDF) in Bangkok, a historic decision was made to officially recognize and address Type 5 Diabetes a malnutrition-related form of diabetes affecting millions worldwide. The IDF announced the formation of the Type 5 Diabetes Working Group, marking the first coordinated global effort to study and manage this underdiagnosed condition.

What is Type 5 Diabetes?

• Origin: First reported in Jamaica in 1955 as “J-type diabetes”
• WHO Classification: Recognized in 1985 as malnutrition-related diabetes, removed in 1999 due to lack of causal evidence
• Nature: Associated with early-life undernutrition, low BMI, and lean diabetes phenotype
• Current Estimate: Affects 25 million people globally, particularly in countries like India, Sri Lanka, Bangladesh, Uganda, Ethiopia, Rwanda, and Korea

Scientific Basis and Research

• Research Leadership: Led by Dr. Nihal Thomas (CMC Vellore) and Prof. Meredith Hawkins (Albert Einstein College of Medicine).
• Key Study (2022): Demonstrated that Type 5 is a distinct metabolic entity in lean individuals with intrauterine malnutrition.
• Thrifty Gene Hypothesis: Suggests prenatal programming causes disproportionate fat accumulation explaining the “thin-fat” phenotype.
• Pathophysiological Insight: Malnutrition disrupts metabolic function without the typical obesity-linked insulin resistance of Type 2 diabetes

Global Collaboration: The Vellore Declaration

• Initial Consensus Meeting: Held in January 2025 at Christian Medical College (CMC), Vellore
• Outcome: 42 global experts signed the Vellore Declaration
• Objective: Advocate for global recognition, funding, and education for Type 5 diabetes
• Naming: “Type 5 Diabetes” coined by IDF President Prof. Peter Schwarz during this meeting

Mandate of the IDF Type 5 Diabetes Working Group

• Define diagnostic criteria and management guidelines
• Develop global registry for collaborative research
• Create training modules for clinicians and healthcare providers
• Promote awareness and education worldwide
• Support research on the pathophysiology of malnutrition-induced diabetes

Global and Clinical Significance

• Fills a critical gap in diabetes care among undernourished populations
• Sheds light on non-obesity-related diabetes mechanisms
• Encourages inclusive global health policies, especially in LMICs (Low and Middle-Income Countries)

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2. SCTIMST Develops Novel rt-LAMP Assay for Early TB Diagnosis

Context:

Researchers at the Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), Thiruvananthapuram, have developed an innovative and cost-effective real-time LAMP (rt-LAMP) assay for the early diagnosis of Tuberculosis (TB). This molecular test offers high sensitivity and specificity, making it comparable to existing tests like GeneXpert and Truenat.

Key Features of the rt-LAMP Assay

• High Sensitivity:
  • The rt-LAMP assay can detect TB DNA even in samples with as few as 10 copy numbers per microlitre, making it highly sensitive.
• Single Temperature Testing:
  • Unlike RT-PCR, which requires three different temperature settings, the rt-LAMP test operates at a single temperature, making the process simpler and quicker.
• Real-time Monitoring:
  • Using the fluorescent dye Syto 16, the amplification process can be monitored every minute during the test, as opposed to waiting until the end, offering real-time results.
• Quick Results:
  • With six primers used for amplification (compared to only two in RT-PCR), the assay provides positive results in just 10-20 minutes.
• High Specificity:
  • The requirement for all six primers to bind to the DNA before amplification begins ensures high specificity. The test avoids using probes, which reduces complexity and cost.
• Affordability:
  • Since the fluorescent dye and primers are inexpensive, the rt-LAMP test is cost-effective, offering an affordable alternative to existing molecular tests.

Testing and Evaluation

• The assay was evaluated using 350 presumptive pulmonary TB sputum samples in two phases (October 2019 – March 2020 and January 2023 – March 2024).
• Comparison with Other Tests:
  The rt-LAMP assay was compared against a microbiological reference standard (MRS), GeneXpert, and smear test. It showed 89.36% sensitivity and 94.06% specificity compared to MRS.

Advantages Over Existing Tests

• Repurposing RT-PCR Machines:
  • The rt-LAMP kit can be used with existing RT-PCR machines, which can be reprogrammed to operate at a single temperature, enabling high-throughput testing (up to 96 or 384 samples in a single run).
• Open Platform System:
  • The assay is designed as an open platform, allowing for easy integration with existing equipment and making it accessible for larger-scale use.

Regulatory Approval and Ongoing Validation

• The technology has been licensed to industry, received approval from the Central Drugs Standard Control Organization (CDSCO), and is currently being validated by the Indian Council of Medical Research (ICMR).
• The WHO Health Technology Access Pool program is also evaluating the technology, awaiting ICMR validation.

Impact on TB Diagnosis in India

• Current Diagnostics:
  • As of 2023, approximately 79% of presumptive TB cases in India are diagnosed using sputum smear microscopy, while only 21% are tested with molecular assays.
• Increasing Molecular Testing:
  • Despite the increase in molecular testing facilities (from 5,090 in 2022 to 6,496 in 2023), India still faces challenges in meeting the National Strategic Plan 2017-2025 to reduce reliance on smear microscopy.

The rt-LAMP assay offers a cost-effective and rapid diagnostic solution for TB, with high sensitivity and specificity. Its ability to integrate with existing RT-PCR machines and its potential for high-throughput testing makes it an important advancement in TB diagnostics. If validated and widely adopted, this assay could play a significant role in improving TB diagnosis and treatment, particularly in resource-limited settings.

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3. Genome India Project

Context:

The GenomeIndia project, which aimed to sequence the whole genomes of 10,000 healthy and unrelated Indians, was launched in January 2020 with funding from the Department of Biotechnology. The project was designed to study genetic diversity across 83 population groups in India, involving a total of 20,000 individuals. The data gathered is expected to significantly contribute to the understanding of genetic mutations, particularly in relation to complex diseases.

• Blood Samples: Blood samples were collected from individuals across 30 tribal and 53 non-tribal populations.
• Sequencing Effort: The sequencing was performed by leading institutions such as the Centre for Brain Research at IISc Bengaluru, Centre for Cellular and Molecular Biology in Hyderabad, and others.

Diverse Sample Collection

• Population Representation: DNA samples were collected from 83 population groups across over 100 distinct geographical locations in India. This approach ensured the inclusion of rare mutations important for understanding complex diseases.
• Sample Size: On average, 159 samples were collected from each non-tribal group, and 75 samples from each tribal group. Special attention was given to obtaining samples from parent-child pairs to uncover de novo mutations (mutations occurring only in the child).
• Exclusions: Two populations were excluded from the final dataset, leaving 9,772 individuals (4,696 males and 5,076 females) for analysis.

Preliminary Findings

• Mutation Discovery: A total of 180 million mutations were identified across the sequenced genomes. Of these, 130 million were in non-sex chromosomes (autosomes), and 50 million were in sex chromosomes (X and Y).
• Non-Coding Regions: A significant portion of these mutations (about 98%) were found in the non-coding regions of the genome, which do not directly code for proteins. Mutations in these regions are crucial for understanding evolutionary history and population-specific genetic traits.

Significance of Endogamous Groups

• Endogamy and Genetic Diversity: The study focused on populations with a history of endogamy (marriage within a specific group). This practice leads to the accumulation of unique genetic variations within these groups, including disease-causing mutations with higher frequencies in certain populations.
• Underrepresentation of Indian Populations: The project addresses the underrepresentation of Indian populations in global genomic studies, which have often been Eurocentric. This study is a step forward in ensuring that India’s genetic diversity is reflected in the global genomic landscape.

Medical Implications

• Precision Medicine: The findings of 130 million genetic variations are expected to drive studies aimed at understanding the role of population-specific genetic mutations in diseases. This could pave the way for precision medicine, where treatments are tailored to the genetic profiles of Indian populations.
• Genomics-Based Diagnostics: The data can facilitate the development of affordable genomics-based diagnostic tools, allowing for early detection, prevention, and management of diseases.
• Public Health Policies: Identifying genetic mutations linked to diseases prevalent in specific endogamous groups can help the government develop targeted public health policies to address these health issues effectively.

The GenomeIndia project is a landmark initiative that contributes significantly to the global understanding of genetic diversity, particularly in underrepresented populations. Its findings have the potential to revolutionize healthcare in India by enabling precision medicine and improving disease prevention and management.

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Banking/Finance

1. Bank of India Withdraws Special Fixed Deposit Scheme and Reduces Interest Rates

Context:

In response to the Reserve Bank of India’s (RBI) 50 basis points rate cut, the Bank of India has announced the withdrawal of its special 400-day fixed deposit scheme and a reduction in interest rates across its short-term and medium-term fixed deposit products. The move reflects the ongoing adjustments within the banking sector following RBI’s monetary policy changes.

Key Changes

• Withdrawal of Special Fixed Deposit Scheme:
  • The bank is discontinuing its 400-day fixed deposit scheme, which offered an interest rate of up to 7.30%. This special scheme was popular for its higher-than-average returns, but its discontinuation comes as part of the broader shift towards lower interest rates.
• Reduction in Interest Rates:
  • As of April 15, 2025, the bank will also lower the interest rates on its short-term and medium-term fixed deposits for various tenures. These changes align with the broader economic trend of rate cuts initiated by the RBI to support economic activity amid shifting inflation and growth concerns.

Implications of the Rate Cut

• Lower Returns for Savers:
  • With the reduction in interest rates, depositors will see lower returns on their fixed deposits, affecting those who rely on fixed income from such investments.
• Impact on Consumers:
  • Individuals who had invested in the special scheme may need to adjust their financial strategies. The lower rates also reflect the broader market dynamics aimed at stimulating economic growth.
• Broader Economic Context:
  • The RBI’s 50 basis points cut is part of its monetary policy to address inflation and bolster economic activity. As more banks align their interest rates with the RBI’s stance, the broader impact on saving behaviors and consumer investment plans will become more evident.

Future Outlook

• Bank Strategies:
  • Expect further alignment of interest rates across government and private banks as they follow the RBI’s lead to keep borrowing costs low while ensuring financial stability.
• Savers’ Response:
  • Savers and investors might look for alternative investment avenues, such as mutual funds or equity-based investments, as fixed deposit returns become less attractive in the current interest rate environment.

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2. UPI Faces Another Outage

Context:

On Saturday, April 12, the Unified Payments Interface (UPI) experienced its third major outage in as many weeks, leaving thousands of users across India unable to complete payments or fund transfers. Leading platforms including Google Pay, PhonePe, Paytm, and several banking apps were affected, with users reporting high transaction failure rates.

NPCI’s Response

The National Payments Corporation of India (NPCI), which manages UPI, acknowledged the issue via X (formerly Twitter), citing “intermittent technical issues” and assured users that it was working to resolve the problem.

Scale of the Outage

• According to Down detector, over 2,000 complaints were logged around noon.
• Most complaints involved payment failures and delays in fund transfers.

Root Cause

Banking sources linked the outages to unprecedented transaction volumes, driven in part by a surge in gaming and betting activity associated with the IPL 2025 season (March 22–May 25).

• March 2025: UPI recorded 18 billion transactions (up from 16 billion).
• April 2025 (so far): Daily transactions exceeded 600 million, compared to the usual 500 million.

Concentration Risk and Structural Concerns

Industry insiders have flagged a concentration risk, with NPCI being the sole operator of UPI:

• NPCI CEO Dilip Asbe aims for 2 billion transactions per day by 2030.
• However, the absence of alternative infrastructure creates a bottleneck during peak demand.
• The Reserve Bank of India’s (RBI) earlier plan for a National Umbrella Entity (NUE) to decentralize the digital payments ecosystem was shelved, heightening systemic dependency on NPCI.

Revenue Challenges in UPI Ecosystem

With UPI operating under a zero-MDR (Merchant Discount Rate) policy enforced by the government:

• Fintechs and banks struggle to monetize UPI transactions.
• Lack of transaction-based revenue has made platform scalability and infrastructure investment financially challenging.

What This Means for India’s Digital Economy

The repeated outages underscore a critical need for infrastructure diversification, especially as India’s digital payments scale rapidly. With financial inclusion and real-time payments being central to India’s fintech strategy, reliable uptime and sustainable business models are now non-negotiable.

TET

Facts To Remember

1. Argentina receives $42 billion from international financial institutions

Three financial institutions pledged $42 billion to aid Argentina’s economy on Friday. The IMF approved a $20 billion bailout, the World Bank offered $12 billion, and the IDB committed $10 billion. President Javier Milei hailed the support, aiming to stabilise the peso and boost economic growth.