Current Affairs Quiz - January, 2024

Notes:
Venezuela has agreed to provide oil to India’s ONGC Videsh (OVL) as a form of compensation for a pending dividend amounting to approximately $600 million. This decision follows the easing of U.S. sanctions on Venezuela, allowing Indian refiners to resume the purchase of Venezuelan oil. ONGC Videsh, the overseas investment arm of the Oil and Natural Gas Corporation, holds a 40% stake in the San Cristobal field located in eastern Venezuela’s Orinoco Heavy Oil belt. The agreement to allocate crude cargoes in lieu of the accrued dividend is part of OVL’s continuous dialogue with PdVSA, Venezuela’s state oil company, to recover the dividend through various mechanisms, including the allocation of crude oil.

Notes:
External Affairs Minister Dr. S. Jaishankar released his new book “Why Bharat Matters” at an event in New Delhi. The book examines India’s transformation in foreign policy over the past decade under PM Modi. It also juxtaposes India’s evolution with the Ramayana. Jaishankar outlined how 2024 will be turbulent due to geopolitics but India can face challenges given its strength.

Notes:
IHCL’s Managing Director & CEO Puneet Chhatwal assumed charge as Chairman of FAITH after Nakul Anand stepped down following retirement from ITC Hospitality. Chhatwal aims to make FAITH a strong tourism and hospitality policy advocacy body.

Notes:
Chris Miller, author of “Chip War: The Fight for the World’s Most Critical Technology” which explains the US-China semiconductor rivalry, has been invited to address Tamil Nadu’s Global Investors Meet. His presence will energize youth and foster policy discussions in this sector which the state aims to grow.

Notes:
IG Drones, an Indian drone technology company, has won a contract to survey the construction progress of India’s first Personal Rapid Transit system metro corridor in Uttarakhand using drones. Its UAVs equipped with high-resolution cameras and other sensors will conduct aerial mapping of the project considered India’s first “Neo Metro.” The drones’ data analytics capabilities will enable tracking the building progress in real-time. Companies like IG Drones are playing an increasing role in efficient monitoring of large infrastructure projects, reducing costs and delays.

Notes:
The Bharat Mobility Global Expo 2024, a significant event in the mobility sector, is being coordinated by the Engineering Export Promotion Council India (EEPC India), with joint support from various stakeholder industry bodies. This expo, set to be held at Bharat Mandapam at Pragati Maidan in New Delhi, is an industry-led and government-supported initiative. It showcases a wide array of innovations and collaborations in the mobility sector, featuring over 600 exhibitors from more than 50 countries. The event includes specialized exhibitions like Auto shows, ACMA Automechanika, urban mobility solutions, and more. It also features conferences with global experts and highlights India’s commitment to engineering excellence and sustainable solutions in the mobility landscape.

Notes:
The primary goal of the European Space Agency’s (ESA) Proba-3 mission, which is scheduled to launch aboard India’s Polar Satellite Launch Vehicle (PSLV), is to demonstrate precision formation flying between two satellites for solar observation. This innovative mission aims to create an artificial eclipse by precisely positioning the two small satellites, namely the Coronagraph spacecraft and the solar-disc-shaped Occulter spacecraft, approximately 150 meters apart. This configuration will allow the Occulter to cast its shadow onto the Coronagraph’s telescope, effectively blocking the Sun’s direct light and enabling the observation of the Sun’s faint corona in visible, ultraviolet, and polarised light for extended periods.

Notes:
The annual Ice and Snow Festival, famous for its spectacular and large-scale ice sculptures, is hosted in the city of Harbin. Harbin is the capital city of China’s northernmost province, Heilongjiang, and is renowned for this festival which attracts a significant number of tourists each year. This festival features fairy-tale ice sculptures that are illuminated with colorful lights at night, creating a magical winter wonderland. The sculptures, some of which are several stories high, are made from ice harvested from the nearby frozen Songhua River. In addition to the sculptures, the festival includes various activities like ice slides for both children and adults. The event has gained considerable popularity, drawing thousands of visitors daily and contributing significantly to the local tourism economy, particularly after the lifting of COVID-19 restrictions.

Notes:
Denmark has announced its Green Fuels Alliance India (GFAI) initiative to boost collaborative efforts between the two countries in the sustainable energy solutions sector. The new alliance is a strategic initiative led by the Danish Embassy and Consulate General of Denmark in India. It aims to advance the green fuels sector including green hydrogen and help both countries achieve their goal of carbon neutrality. Nine Danish organisations have already committed as founding members of GFAI. The announcement comes as India pushes towards carbon neutrality by 2070 while Denmark aims for 2050.

Notes:
Ambassador Indra Mani Pandey, a senior diplomat of India, assumed today the position of Secretary General (SG) of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). He is the 4th SG of BIMSTEC and will remain its SG for a period of three years. He has succeeded H.E. Tenzin Lekphell of Bhutan.