UPSC CURRENT AFFAIRS SIMPLIFIED

Nord Stream 2 (NS2) * The Nord Stream 2 (NS2) running from Russia to Germany across the Baltic Sea has been completed recently. * NS 2 is an expansion of Russia’s existing Nord Stream gas pipeline to Germany across the Baltic Sea. * The total capacity of two strings of Nord Stream 2 is 55 billion cubic meters of gas per year. NS2’s manufacture began in 2016 and construction in 2018. *The 1,224 km, $11-billion underwater link is the shortest, most economical and environment-friendly route to double Russia’s gas export to Germany.

‘Germany may consider halting Nord Stream 2’ - The Hindu https://www.thehindu.com/news/international/germany-may-consider-halting-nord-stream-2/article38288132.ece

Explained: Why Nusantara has been selected as the new capital of Indonesia | Explained News,The Indian Express https://indianexpress.com/article/explained/indonesia-capital-east-kalimantan-nusantara-explained-7731059/

Indonesia passes law to relocate capital to remote Borneo - The Hindu https://www.thehindu.com/news/international/indonesia-passes-law-to-relocate-capital-to-remote-borneo/article38286666.ece

Arab Spring * Arab spring refers to a series of uprisings in the countries of the Arab region in 2011, leading to the ousting of several dictators. * Protests broke out in Tunisia in late 2010 and spread to other countries including Tunisia, Egypt, Yemen, Libya, Bahrain and Syria. * There were hopes that the Arab world was in for massive changes and expectations that the old autocracies would be replaced with new democracies. * The wave of initial revolutions and protests faded by mid-2012, as many Arab Spring demonstrations were met with violent responses from authorities, as well as from pro-government militias, counter demonstrators and militaries. * These attacks were answered with violence from protestors in some cases. Largescale conflicts resulted into the Syrian Civil War, the Iraqi insurgency the Egyptian Crisis, the Yemeni Crisis and the Libyan Civil War. # Arab Spring 2.0 * The anti-regime convulsions underway in Sudan and Algeria are the latest version of an 'Arab Spring' that erupted in 2011 and that Arab autocrats and their security regimes ultimately crushed. The protests have forced the presidents of both countries – Abdelaziz Bouteflika and Omar al-Bashir – to resign. 

Escalation of the ‘forgotten war’ in Yemen - The Hindu https://www.thehindu.com/opinion/op-ed/escalation-of-the-forgotten-war-in-yemen/article38288701.ece

The SilverLine project is anti-development - The Hindu https://www.thehindu.com/opinion/op-ed/the-silverline-project-is-anti-development/article38288549.ece

Inflation Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc. Inflation measures the average price change in a basket of commodities and services over time. Inflation is indicative of the decrease in the purchasing power of a unit of a country’s currency. This could ultimately lead to a deceleration in economic growth. However, a moderate level of inflation is required in the economy to ensure that production is promoted. In India, inflation is primarily measured by two main indices —WPI & CPI which measure wholesale and retail-level price changes, respectively. #Core Inflation It is the change in the costs of goods and services but does not include those from the food and energy sectors. This measure of inflation excludes these items because their prices are much more volatile. Core inflation = Headline inflation – (Food and Fuel) inflation. # Wholesale Price Index It measures the changes in the prices of goods sold and traded in bulk by wholesale businesses to other businesses. Published by the Office of Economic Adviser, Ministry of Commerce and Industry. It is the most widely used inflation indicator in India. Major criticism for this index is that the general public does not buy products at wholesale price. The base year of All-India WPI has been revised from 2004-05 to 2011-12 in 2017. # Consumer Price Index It measures price changes from the perspective of a retail buyer. It is released by the National Statistical Office (NSO). The CPI calculates the difference in the price of commodities and services such as food, medical care, education, electronics etc, which Indian consumers buy for use. The CPI has several sub-groups including food and beverages, fuel and light, housing and clothing, bedding and footwear. Four types of CPI are as follows: CPI for Industrial Workers (IW). CPI for Agricultural Labourer (AL). CPI for Rural Labourer (RL). CPI (Rural/Urban/Combined). Of these, the first three are compiled by the Labour Bureau in the Ministry of Labour and Employment. Fourth is compiled by the NSO in the Ministry of Statistics and Programme Implementation. Base Year for CPI in general is 2012. However the base year for CPI for Industrial Worker (CPI-IW) is 2016. # The Monetary Policy Committee (MPC) uses CPI data to control inflation (within range 4+/-2%). In April 2014, the Reserve Bank of India (RBI) had adopted the CPI as its key measure of inflation. # CPI vs. WPI WPI tracks inflation at the producer level and CPI captures changes in prices levels at the consumer level. WPI does not capture changes in the prices of services, which CPI does.

Inflation conundrum - The Hindu https://www.thehindu.com/opinion/editorial/inflation-conundrum/article38288505.ece

Investor Charter *The investor charter introduced by SEBI is aimed at protecting the interest of investors in the securities market. * The vision of the investor charter is “to protect the interests of investors by enabling them to understand the risks involved and invest in a fair, transparent, secure market, and to get services in a timely and efficient manner.” * The rights of investors include getting fair and equitable treatment, and expecting redressal of investor grievances filed in the SCORES portal in a time-bound manner. * This also includes getting quality services from SEBI-recognised market infrastructure institutions and SEBI-registered intermediaries, regulated entities and asset management companies,”

Securities and Exchange Board of India (SEBI) * SEBI is a statutory body established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992. * The basic functions of the Securities and Exchange Board of India is to protect the interests of investors in securities and to promote and regulate the securities market. * SEBI Board consists of a Chairman and several other whole time and part time members. *SEBI also appoints various committees, whenever required to look into the pressing issues of that time. * Further, a Securities Appellate Tribunal (SAT) has been constituted to protect the interest of entities that feel aggrieved by SEBI’s decision. * SAT consists of a Presiding Officer and two other Members. * It has the same powers as vested in a civil court. Further, if any person feels aggrieved by SAT’s decision or order can appeal to the Supreme Court.

SEBI mulls ‘alternate dispute resolution’ tool - The Hindu https://www.thehindu.com/business/Industry/sebi-mulls-alternate-dispute-resolution-tool/article38283974.ece

China’s economy grows 8.1% to $18 tn - The Hindu https://www.thehindu.com/business/Industry/chinas-economy-grows-81-to-18-tn/article38283937.ece

Organisation of Islamic Cooperation OIC) It is the second largest intergovernmental organization after the United Nations (UN) with a membership of 57 states. It is the collective voice of the Muslim world. It endeavors to safeguard and protect the interests of the Muslim world in the spirit of promoting international peace and harmony among various people of the world. India is not a member of the OIC. It was established upon a decision of the historical summit which took place in Rabat, Kingdom of Morocco in September 1969. Headquarters: Jeddah, Saudi Arabia.

Iran says diplomats back in Saudi Arabia for OIC posts - The Hindu https://www.thehindu.com/news/international/iran-says-diplomats-back-in-saudi-arabia-for-oic-posts/article38283931.ece