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UAE President Sheikh Khalifa bin Zayed Al Nahyan has conferred the prestigious Zayed Medal to Prime Minister Narendra Modi for giving a “big boost’ to bilateral strategic ties between the two countries. The award comes in appreciation of PM Modi’s role in consolidating the long-standing friendship and joint strategic cooperation between the two countries. The Zayed Medal is the highest decoration awarded to kings, presidents and heads of states.

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The Reserve Bank of India (RBI) has cut its repo rate under Liquidity Adjustment Facility (LAF) by 25 basis points to 6.0% in its first bi-monthly policy statement of the current financial year FY20, with immediate effect. The move will cheer markets and investors and is the second consecutive rate cut by the RBI. It has also maintained the policy stance neutral and lowered the retail inflation and GDP forecasts. This is the second consecutive rate cut from RBI under new Governor Shaktikanta Das, after a rate cut in February 2019. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75%, and the Marginal Standing Facility (MSF) rate and the Bank Rate to 6.25%. These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of plus or minus 2% while supporting growth.

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Asian Development Bank (ADB) has recently released its flagship publication Asian Development Outlook 2019. In its report, ADB has lowered India’s growth by 40 basis points to 7.2% in fiscal year 2019-20. Still, it will be fastest growing economy in the world. The report mentioned that recent policy measures by the Government of India (GoI) to improve the investment climate and boost private consumption and investment will help India to lift economic growth in the next two fiscal years. The growth rate in FY 2020-21 is likely to be 7.3%. India’s growth slowed from 7.2% in fiscal 2017 to 7% in 2018, with weaker agricultural output and consumption growth curtailed by higher global oil prices and lower government expenditure. The report added that sub-region wise, southeast Asia will sustain growth at close to 5% this year and the next one.

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Chicago has created history by electing an African-American woman as its mayor for the first time. Lori Lightfoot is a former federal prosecutor and practicing lawyer who has never before held elected office. She won the city’s mayoral race by a huge margin. She will also be Chicago’s first openly gay mayor. Lightfoot’s primary proposals include increasing access to affordable housing, creating an office of public safety to reduce crime and reform policing, and pushing through a real estate transfer tax to help combat homelessness. She also backs abolishing US Immigration and Customs Enforcement. Lightfoot will take over office from Mayor Rahm Emanuel, who previously served as chief of staff under former President Barack Obama.

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Brunei has recently introduced harsh new Islamic laws that make adultery and homsexuality punishable by stoning to death. The new measures also cover a range of other crimes, including punishment for theft by amputation. The move makes Brunei the first place in Southeast Asia to have a sharia penal code at the national level. The new law mostly applies to Muslims, though some aspects will also apply to non-Muslims. It stipulates the death penalty for a number of offences, including rape, adultery, sodomy, robbery and insulting or defaming the Prophet Muhammad. It also introduces public flogging as punishment for abortion and criminalises exposing Muslim children to the beliefs and practices of any religion other than Islam.