NEWS 24-08-2022. News For 26th-Aug (Friday) SUMMARY OF JUL: *National news* 1. India currently has the third largest start-up ecosystem in the world, with 105 unicorns, after the United States’ 444 and China’s 301. 2. Mrs Draupadi Murmu has taken over as the 15th President of India. She belongs to Santhal tribal community in Odisha & is the first Adivasi woman and also the country’s second female President. 3. India will assume the G20 Presidency on 1 December 2022 from Indonesia, and will convene the G20 Leaders' Summit for the first time in India in 2023. 4. The Adani Group has won the bid to purchase the largest port of Israel, the port of Haifa for the next 32 years. 5. Of the top ten economies powered by solar power, 5 are from Asia. This is a major breakthrough given that a decade ago, only two Asian countries were on the list. India has increased its share from 0.01% to over 4% in last 10 years. 6. Recently PM Modi attended the G7 Summit in Germany and asked the G7 countries to consider investing in and promoting the emerging market for clean energy technologies in India. 7. About 7.5% of India's fuel needs (crude oil, coal, natural gas, etc.,) for the past few months have been sourced from Russia compared to 2% or less in many of the previous years. Also India has finalised a barter deal with Russia for supply of fertilisers. *International news* 1. India has emerged as the top lender to Sri Lanka, extending USD 376.9 million worth credit compared to USD 67.9 million by China in the first four months of this year. 2. The UAE is set to invest $2 billion (about Rs 15,500 crore) in India to develop a series of integrated food parks, while the United States (US) will set up a hybrid renewable energy project in Dwarka, Gujarat, with an investment of $330 million (about 2,500 crore) under the framework of I2U2. 3.Former PM of Japan Shinzo Abe, was assassinated on 8th of Jul, during an election rally, in the city of Nara, two days prior to national election. 4. India & Iran are set to activate a new shorter route to Russia called the Int’l North-South Transportation Corridor. INSTC connects Mumbai, Bandar Abbas, Baku, Bandar Anzali, Astrakhan, Moscow and this route is safe from sanctions against Russia & Iran. 5.India-Australia Critical Minerals Investment Partnership has been signed, according to which both the countries will explore investment opportunities in cobalt and lithium mineral assets. 6.India & Armenia have signed an MoU on High Impact Community Development Projects in Armenia with financial & technical assistance from India. *Defense news* 1. The 36th Dassault Rafale jet meant for the IAF with the 13 India Specific Enhancements has been handed over to IAF officials in France. 35 jets are already in India. 2.HAL has recently handed over 30 LCA Tejas Mk1 single-seater aircrafts out of the 32 that were ordered by the IAF. Also Safran has delivered its 200 Hammer Armement Air-Sol Modulaire (AASM) to Indian Air Force, which are to be equipped on LCA Tejas. 3.French engine manufacturer Safran & DRDO are set to co-develop 110kn class engine for AMCA. India has agreed to procure nearly 1000 engines as the IAF has committed to procure 40 AMCA Mk1 & 80 AMCA Mk2 fighters which means that around 700 engines will be required just for the AMCA program. Also General Electric (GE) of the US, one of the world’s leading manufacturers of jet engines, has submitted a proposal for the co-development of a 110 kn thrust engine with Indian agencies for AMCA. 4.The DRDO has successfully carried out the maiden test flight of a new Unmanned Aerial Vehicle (UAV), an autonomous Flying Wing Technology Demonstrator. This flight marks a major milestone in terms of proving critical technologies towards the development of future unmanned aircraft and is significant step towards self-reliance in such strategic defence technologies. 5. IAF will be inducting six squadrons of Tejas Mark 2 jets & will decide on the additional numbers of these jets once the production of the jets begin. Meanwhile in a bid to replace their ageing fleets, Malaysia and Egypt are looking to buy India's Tejas fighter jets. *Sports news* 1. Double Olympic medallist P V Sindhu lifted the *Singapore Open Super 500 trophy* after outwitting China's Wang Zhi Yi in the women's singles final on 17th-Jul. 2. India finished the *ISSF Shooting World Cup campaign* by topping the medal's tally with a haul of 15 medals, including five gold, six silver and four bronze. While the Indian under-20 women's wrestling team ended runners up in the 2022 Junior Asian Wrestling Championship being held at Manama, Bahrain by capturing 10 medals (3 golds, 4 silvers & 3 bronze medals) at the event. < < Back