Daily Current Affairs- 18th May 2024

Daily Current Affairs- 18th May 2024

INTERNATIONAL

UAE launches 10-Year Blue Resident Visa for environmental advocates

• In an attempt to promote the culture of sustainability and environment protect, the United Arab Emirates Cabinet led by Prime Minister, Sheikh Mohammed bin Rashid, has announced a 10-year Blue Residence Visa for those who are making exceptional contributions to environmental protection.
• The Prime Minister on X emphasised the UAE's unwavering devotion to environmental protection, writing, “The sustainability of our economy has become linked to the sustainability of our environment, and our national directions in this area are clear and consistent." He further emphasised UAE's commitment to protect the environment, how the nation is also ready to develop its international technologies, and develop its higher education systems. 

India To Soon Take Delivery Of Russian Man-Portable Igla-S Air Defence Systems

• The Indian Army is set to receive another batch of Russian-made man-portable Igla-S very short-range air defence systems (VSHORADs) by the end of May or early June.
• Man-portable VSHORADs like Igla-S and American Stinger are shoulder-fired missiles that can be used to shoot down low-flying helicopters, fighter jets, drones, and cruise missiles. 

SPORT

Brazil picked to host 2027 Women’s World Cup at FIFA Congress

• Brazil has been declared host of the 2027 Women’s World Cup after winning a vote at the annual FIFA Congress on Friday, beating the joint bid of Belgium, Netherlands and Germany to become the first South American country picked to stage the tournament.
• Brazil won with 119 votes versus 78 for the joint European entry, boosted by a technical evaluation from world governing body FIFA that gave a high score for its commercial plan and stadiums purpose-built for the 2014 Men’s World Cup. 

IMPORTANT DAYS

International Museum Day

• International Museum Day is celebrated every year on May 18, and this year it falls on Saturday, International Museum Day is an annual event that aims to raise public awareness of museums. As invaluable repositories of artistic, cultural, historical, traditional and fascinating artefacts, museums offer a wealth of knowledge and insight.
• The event focuses on a different theme each year, reflecting relevant topics or challenges encountered by museums globally. The theme for this year, "Museums for Education and Research," emphasizes the crucial role of cultural institutions in delivering a comprehensive educational experience. 

SUMMIT'S & MOU's

FICCI & IESA Sign MoU To Boost India’s Semiconductor And Electronics Industry

• India Electronics and Semiconductor Association (IESA) has signed a Memorandum of Understanding (MoU) with Federation of Indian Chambers of Commerce and Industry (FICCI) to promote innovation, support the semiconductor and electronics industry, strengthen supply chains, and foster development of the ecosystem in India.
• This collaboration will work on setting up joint task force on semiconductor and critical technologies of the future. Conducting technology consultative roundtables, fostering business partnerships would be the core objective of this MoU. 

India, UAE conclude meeting on India Middle East Europe Economic Corridor

• The first inter-ministerial delegation from India held meetings from May 15-17 under the Intergovernmental Framework Agreement between the two countries concerning cooperation for the empowerment and operation of the India-Middle East-Europe Economic Corridor (IMEEC).
• According to the Indian Embassy in Abu Dhabi press release, the IMEEC will provide effective alternate supply routes generating efficiencies and reducing costs. Indian Ambassador to UAE Sunjay Sudhir led the discussions with key entities like DP World UAE, AD Ports Group and UAE's Federal Customs Authority. 

12th India-Mongolia Joint Working Group meeting held in Ulaanbaatar

• The 12th Joint Working Group (JWG) meeting between the Defence Ministries of India and Mongolia took place in Ulaanbaatar on May 16-17, 2024. The meeting was co-chaired by Joint Secretary, MoD, India Shri Amitabh Prasad and State Secretary of MoD, Mongolia Brigadier General Gankhuyag Davagdorj. India’s Ambassador to Mongolia Shri Atul Malhari Gotsurve also attended the meeting.
• During the JWG, both sides expressed satisfaction at the ongoing defence cooperation between the two countries. They reviewed the progress on various bilateral defence cooperation initiatives and identified means to further enhance cooperation in these areas, articulating steps in this direction. Both sides also exchanged views on the current geopolitical situation. 

AWARDS & RECOGNITION

IN-SPACe honoured with Geospatial World Forum Leadership Award 2024

• The Indian National Space Promotion and Authorization Centre (IN-SPACe) has been honoured with the Geospatial World Forum (GWF) Leadership Award for “Public Policy: Enabling Industry Development”.
• The award was presented at the 2024 Geospatial World Forum in Rotterdam in a special ceremony on May 14, 2024. The award recognizes IN-SPACe’s contributions to the global geospatial industry through its ground-breaking work in fostering the growth and development of India’s space sector and support to non-government entities working in the space economy, 

RANKING

Forbes’ list of the world’s highest-paid athletes

• Cristiano Ronaldo may be in the twilight of his career, but the soccer star still tops Forbes’ list of the world’s highest-paid athletes thanks to his huge wages in Saudi Arabia.
• According to Forbes’ list, which was released on Thursday, Ronaldo earned $260 million over the last 12 months, $200 million from his club contract with Al-Nassr and $60 million in off-field earnings.

Forbes’ 10 highest-paid athletes in 2024 =

1. Cristiano Ronaldo (soccer) - $260 million
2. Jon Rahm (golf) - $218 million
3. Lionel Messi (soccer) - $135 million
4. LeBron James (basketball) - $128.2 million
5. Giannis Antetokounmpo (basketball) - $111 million
6. Kylian Mbappé (soccer) - $110 million
7. Neymar (soccer) - $108 million
8. Karim Benzema (soccer) - $106 million
9. Steph Curry (basketball) - $102 million
10. Lamar Jackson (football) - $100.5 million 

BANKING AND ECONOMY

IFC lends $500 million HDFC Bank for financing micro loan to women

• The International Finance Corporation (IFC) has provided $ 500 million loan to HDFC Bank to provide loans to the women microfinance borrowers.
• India’s largest private sector bank will use the loan amount to provide loans to the women's self-help group (SHG) and the joint liability group (JLG) that is engaged in a sustainable livelihood initiative (income generation).