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Saturday, August 24, 2019

Prelims booster(Micro notes), current affairs with static portion -24 August 2019

World Trade Organization (WTO) 

  • Context: WTO reforms must be taken up by all member countries: Piyush Goyal.
  • early days of the Silk Road to the creation of the General Agreement on Tariffs and Trade (GATT) and the birth of the WTO,played an important role in supporting economic development and promoting peaceful relations among nations.
  • GATT became the only multilateral instrument governing international trade from 1948 until the WTO was established in 1995.
  • In the Marrakesh Agreement, the World Trade Organization (WTO) established.
  • subsidies classification
subsidies
subsidies 
South-South and Triangular Cooperation:-
  • Context: An international dialogue on South-South and Triangular Cooperation was recently held in New Delhi.
  • Collaboration among Acountries of the South in the political, economic, social, cultural, environmental and technical domains.
  • Can take place on a bilateral, regional, intraregional or interregional basis.
Financial Action Task Force (FATF):-
  • Context: Financial Action Task Force affiliate Asia Pacific Group (APG) places Pakistan on Blacklist for failing to combat terrorism, money laundering and meeting the required global standards.
  • Established in July 1989 by a Group of Seven (G-7) countries in a Summit held in Paris.
  • An independent inter-governmental body that develops and promotes policies to protect the Global Financial System against terror funding and Money Laundering activities.
  • FATF has 2 types of lists
Black List:-countries which are supporting terror funding and money laundering activities are listed in the Black list.
Grey List:- considered as the safe heaven for supporting terror funding and money laundering; included in this list. The inclusion in this list is not as severe as black listed.

FEDOR(Final Experimental Demonstration Object Research)
  • Context: Russia has launched an unmanned rocket into space.
  • Skybot F-850 is the first humanoid robot to be sent to space by Russia.
  • can emulate movements of the human body, has apparently embraced his mission, describing himself as “an assistant to the ISS crew”.
  • In 2011, NASA sent up Robonaut 2, a humanoid robot developed that had a similar aim of working in high-risk environments.
Baltic Nations:
  • Context: The Vice President concludes his tri-nation tour to the Baltic Nations-Lithuania, Latvia and Estonia.
  • group the three sovereign states in Northern Europe on the eastern coast of the Baltic Sea: Estonia, Latvia, and Lithuania.
  • All three countries are members of the European Union, NATO, the eurozone and the OECD.
Baltic Nations
Baltic Nations
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