CURRENT AFFAIRS 03 December, 2024
- SYRIA’S ALEPPO SLIPS FROM GOVERNMENT HANDS –
- Syria’s second-largest city, Aleppo, has fallen from government control for the first time since the conflict began over a decade ago.
- This shift comes after a surprise offensive by Islamist-dominated rebel groups, with support from Hayat Tahrir al-Sham and allied factions.
- The city’s loss marks a significant turning point in the Syrian conflict, as it had previously been recaptured by government forces in 2016.
- INDIA FACES RISKS FROM TRUMP’S BRICS TARIFF –
- As Donald Trump gears up for a potential second term as US President, his protectionist trade policies have already started causing ripples in the global economy. A major part of his strategy involves imposing 100% tariffs on BRICS countries, including India, if they reduce their reliance on the US dollar for international transactions.
- With the BRICS nations, including India, discussing the possibility of de-dollarisation, Trump’s comments present a serious challenge for India’s export sectors, including pharmaceuticals, textiles, and IT services.
- INDIAN-ORIGIN KASH PATEL ANNOUNCED NEXT DIRECTOR OF FBI –
- US President-elect Donald Trump has announced Kash Patel as the next Director of the Federal Bureau of Investigation (FBI), succeeding Christopher Wray.
- Patel, a long-time Trump loyalist known for his confrontational stance against the “deep state” and criticism of federal agencies, brings a history of staunch support for Trump’s policies.
- BANKING LAWS (AMENDMENT) BILL, 2024 SET TO INTRODUCE IN THE LOK SABHA –
- Union Finance Minister Nirmala Sitharaman is set to introduce the Banking Laws (Amendment) Bill, 2024 in the Lok Sabha on 2nd December, 2024. The bill aims to amend several key banking-related legislations, including the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, and the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980.
- The amendments are expected to enhance the functioning and regulation of the banking sector, and the bill will be considered for debate and passage in the lower house of Parliament.
- FDI INFLOWS JUMP 45% TO USD 29.79 BILLION IN H1 FY 2024-25 –
- India’s foreign direct investment (FDI) surged by 45% to USD 29.79 billion in the first half of FY 2024-25, compared to USD 20.5 billion in the same period last year.
- This growth is attributed to strong inflows in the services, computer, telecom, and pharma sectors, driven by key investors from Mauritius, Singapore, and the US.
- The July-September quarter alone saw a 43% increase, amounting to USD 13.6 billion, highlighting robust foreign confidence in India’s economic landscape. Maharashtra was the top recipient of FDI, further cementing its role as India’s financial hub.