CURRENT AFFAIRS SUMMARY FOR THE MONTH OF AUGUST
CURRENT AFFAIRS : INTERNATIONAL AFFAIRS
INTERNATIONAL AFFAIRS :
The G20 has agreed on Brazil’s proposal for a 2% minimum tax on the world’s wealthiest billionaires, marking a historic moment in global tax cooperation. This proposal, formally adopted as the Rio de Janeiro G20 Ministerial Declaration on International Tax Cooperation, commits G20 countries to improving the taxation of ultra-high-net-worth individuals. The declaration was endorsed by G20 finance ministers and central bank governors during the 3rd G20 Finance Ministers and Central Bank Governors Meeting in Rio de Janeiro, Brazil. The initiative, which targets the world’s richest individuals, will be a top priority at the G20 summit on November 18-19, 2024. It aims to reduce the global wealth gap and ensure a fairer distribution of taxes by having the ultra-rich contribute more significantly to national revenues.
Curaçao has become the 6th Associate Member of the Caribbean Community (CARICOM), the oldest surviving integration movement in the developing world. With this, CARICOM now consists of 15 full member countries and 6 associate members.
Germany has officially joined the UN Command in South Korea as its 18th member. This U.S.-led group, based in Pyeongtaek south of Seoul, monitors the heavily fortified border with North Korea and is committed to defending South Korea in case of conflict.
The Neelakurinji flower, native to the Western Ghats, is now listed as “Vulnerable” by the IUCN. This purplish shrub, found in Kerala, Karnataka, and Tamil Nadu, faces significant threats to its survival.
India has made its first payment for hybrid power projects on three Sri Lankan islands (Delft, Nainativu, and Analaitivu). Indian High Commissioner Santosh Jha handed over the payment to Sri Lankan officials in Colombo. The project, funded by a $11 million grant from India, aims to boost sustainable energy in Sri Lanka.
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