Paris Olympics 2024 Medal Tally, India Medal Tally in Olympics

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Paris Olympics 2024 Medal Tally, India Medal Tally in Olympics

Paris Olympics 2024 Medal Tally

China’s Liu Yukun won a gold medal, helping China stay at the top of the medal table. France is in second place, and Japan is in third. This is the 33rd Summer Olympics. It started on Friday and will end on August 11. The Paris Olympics has 32 sports. These include 28 main sports, plus some newer ones like breakdancing, skateboarding, surfing, and sports climbing. India won its third medal in the Paris 2024 Olympics. Swapnil Kusale got a bronze medal in the men’s 50m rifle 3 positions event. This happened in Chateauroux on Thursday.

Paris Olympics 2024 Medal Tally (Full List)

China leads with the most gold medals (11), but the United States has the highest total medal count (31). The top 5 countries by gold medals are China, France, Japan, Australia, and the United States.

Rank	Country	Gold	Silver	Bronze	Total
1	China	11	7	3	21
2	France	8	10	8	26
3	Japan	8	3	4	15
4	Australia	7	6	4	17
5	United States of America	6	13	12	31
6	Great Britain	6	7	7	20
7	South Korea	6	3	3	12
8	Italy	3	6	4	13
9	Canada	2	2	3	7
10	Germany	2	2	2	6
11	Netherlands	2	2	1	5
11	New Zealand	2	2	1	5
13	Romania	2	1	1	4
14	Hong Kong	2	0	2	4
15	Sweden	1	1	2	4
16	Georgia	1	1	0	2
17	Belgium	1	0	2	3
17	Ireland	1	0	2	3
17	Kazakhstan	1	0	2	3
17	South Africa	1	0	2	3
21	Croatia	1	0	1	2
21	Guatemala	1	0	1	2
23	Argentina	1	0	0	1
23	Azerbaijan	1	0	0	1
23	Ecuador	1	0	0	1
23	Serbia	1	0	0	1
23	Slovenia	1	0	0	1
23	Uzbekistan	1	0	0	1
29	Brazil	0	2	3	5
30	Hungary	0	2	1	3
31	North Korea	0	2	0	2
32	Poland	0	1	2	3
32	Spain	0	1	2	3
34	Kosovo	0	1	1	2
34	Mexico	0	1	1	2
34	Switzerland	0	1	1	2
34	Turkey	0	1	1	2
34	Ukraine	0	1	1	2
39	Fiji	0	1	0	1
39	Mongolia	0	1	0	1
39	Tunisia	0	1	0	1
42	India	0	0	3	3
43	Moldova	0	0	2	2
44	Austria	0	0	1	1
44	Egypt	0	0	1	1
44	Greece	0	0	1	1
44	Slovakia	0	0	1	1
44	Tajikistan	0	0	1	1

Updated 01-08-2024

Which District of Haryana is Known as the City of Gold?

Haryana is a state in northern India, known for its rich culture, history, and rapid development. It is famous for its agricultural success, especially in crops like wheat and rice. With bustling cities, modern infrastructure, and historical sites, Haryana plays a vital role in India’s economy and offers a blend of tradition and modernity.

An Overview of Haryana

Haryana is a state in northern India, formed on November 1, 1966, after the division of Punjab. It covers 1.4% of India’s total area, with a land size of 44,212 km². The capital city, Chandigarh, is shared with Punjab. Faridabad is the largest city, while Gurgaon is a major center for finance and technology in India.

Number of Districts in Haryana

Haryana has 6 main areas (administrative divisions), 22 districts, 72 smaller regions (sub-divisions), 93 revenue tehsils, 50 sub-tehsils, 140 development blocks, 154 cities and towns, 7,356 villages, and 6,222 village councils (panchayats).

Sonipat, a district in Haryana, is famously known as the City of Gold. This title is deeply rooted in its rich history and ancient significance. Let’s explore why Sonipat holds such a title and its fascinating origin.

Why is Sonipat Known as the City of Gold?

Sonipat is known as the “City of Gold” because of its historical significance and rich past. The name comes from the Sanskrit words Svarna (gold) and Prastha (place). According to legend, the city was founded by the Pandava brothers during the Mahabharata era. Its association with wealth and prosperity led to its popular name, the City of Gold.

Origin of the Name ‘Sonipat’

The name Sonipat has its roots in Sanskrit. It is a combination of two words: Svarna (meaning gold) and Prastha (meaning place). The city was originally called Sonprastha, which later evolved into Swarnprastha, then Swarnpath, and finally became Sonipat as we know it today.

Historical Significance of Sonipat, the City of Gold

Sonipat holds great historical importance. According to legend, during the time of the Mahabharata, the Pandava brothers, famous characters from this epic, founded the city. The Pandavas were said to have demanded Sonipat as one of the five villages given to them in exchange for the kingdom of Hastinapur.

Cultural and Historical Significance

Apart from its legendary connection with the Mahabharata, Sonipat has a deep cultural and historical legacy. It has been a center of learning, trade, and spiritual significance for centuries. The city’s name reflects its rich heritage tied to prosperity and ancient glory.

Richest Man in the World 2024 (Name, Net Worth and Country)

The Real-Time Billionaire List, an annual compilation by Forbes Magazine, is a renowned roster detailing the wealthiest individuals worldwide, gauged by their estimated net worth. Released each March, this list offers a comprehensive snapshot of the richest man in the world. The first edition of this ranking was introduced in 1987, becoming a widely anticipated and influential annual report on the financial standing of the world’s wealthiest individuals.

Elon Musk is a famous businessman and investor, known for creating and leading important companies like SpaceX and Tesla. As of November 2024, he is considered the wealthiest man in the world, with a net worth of approximately $263.8 billion. This article explores his life, career, and significant achievements.

Net Worth of World’s Richest Person

As of November 2024, Forbes estimates Elon Musk’s net worth to be approximately $263.8 billion. This makes him the richest person in the world. His wealth primarily comes from his successful ventures in technology and space exploration.

Career Highlights of World’s Richest Person, Elon Musk

Founder and CEO of SpaceX: Musk founded SpaceX in 2002 with the goal of reducing space transportation costs and enabling the colonization of Mars. SpaceX has achieved several milestones, including launching reusable rockets and sending astronauts to the International Space Station.
CEO and Product Architect of Tesla, Inc.: In 2004, Musk became involved with Tesla, a company focused on electric vehicles. He has played a crucial role in making electric cars popular and has worked on various innovations to improve battery technology and sustainable energy.
Owner of X Corp. (formerly Twitter): In 2022, Musk acquired Twitter for $44 billion. He later merged it into X Corp. and rebranded the platform as X. His ownership has sparked debates over free speech and misinformation on social media.

Other Ventures Owned by Elon Musk

Musk has founded and co-founded several other companies:

The Boring Company: A tunnel construction company aimed at reducing traffic congestion.
Neuralink: A neurotechnology company focused on developing brain-computer interfaces.
xAI: An artificial intelligence company founded in 2023.
OpenAI: A nonprofit organization aimed at ensuring that artificial intelligence benefits humanity.

Top 10 Richest Persons In the World by November 2024

As of November 2024, Elon Musk, with a remarkable net worth of $263.8 billion, holds the title of the richest man in the world, followed by Jeff Bezos, Mark Zuckerberg and Bernard Arnault & Family.

Here is the list of Top 10 Richest Man in the World as of November 2024:

Top-10 Richest Man in the World as of November 2024
Rank	Name	Net Worth	Source of Wealth	Country
1.	Elon Musk	$263.8 billion	Tesla, SpaceX	United States
2.	Larry Ellison	$208 billion	Oracle	United States
3.	Jeff Bezos	$204.3 billion	Amazon	United States
4.	Mark Zuckerberg	$196.3billion	Meta Platforms, INC.	United States
5.	Bernard Arnault & Family	$169.3 billion	LVMH	France
6.	Larry Page	$142.1 billion	Google	United States
7.	Warren Buffet	$142 billion	Berkshire Hathaway	United States
8.	Sergey Brin	$135.9 billion	Google	United States
9.	Amancio Ortego	$127.7billion	Zara	Spain
10.	Steve Ballmer	$121 billion	Google	United States

Top-10 Richest Man in the World in Brief

Here is the brief description of top-10 richest man of the world along with their net worth, source of income and some key details:

1. Richest Man in the World – Elon Musk

The world’s richest person, Elon Musk, aged 53 and based in the United States, serves as Tesla’s co-founder and CEO, boasting a net worth of $263.8 billion. His 13% Tesla ownership stake is valued at $98.1 billion, complemented by a 79% ownership stake in X, worth $9.32 billion. Musk’s other private assets include SpaceX ($53.2 billion) and the Boring Company ($3.33 billion)

Elon Musk is the richest person in the world. He co-founded companies like SpaceX (rocket producer), Tesla (electric car maker) and Boring Company (tunnelling startup). A significant portion of his wealth is tied to the success of Tesla. Musk purchased Twitter in October 2022 for $44 billion.

2. World’s Second Wealthiest Person – Larry Ellison

Larry Ellison, the fifth richest person in the world, aged 80 and resides in the United States. He serves as the co-founder, Chair and CTO of Oracle (ORCL), boasting a substantial net worth of $129 billion. His Oracle ownership stake exceeds 42%, valued at $96.1 billion. Additionally, his diversified assets include $10.7 billion in Tesla equity, a noteworthy public asset and a considerable cash reserve of $21.8 billion.

Larry Ellison holds 2nd position in the real-time billionaire’s list as of October 2024. He owns 35% of software giant Oracle and is its chief technology officer, chairman and co-founder. He left the CEO position at Oracle in 2014. He shifted permanently to Hawaiian Island Lanai and bought it for $300 million. He purchased 3 million Tesla shares and joined its board in December 2018.

4. Fourth Richest Person in the World – Mark Zuckerberg

As of 2024, Mark Zuckerberg, aged 40 and based in the United States, claims the title of the fourth richest person in the world who holds the dual roles of CEO and Chair at Meta Platforms (META), amassing a significant net worth of $115 billion. His ownership stake in Meta Platforms stands at 13%, valued at $111 billion, reflecting his influential position in the tech industry. Additionally, Zuckerberg manages a portfolio that includes $4.03 billion in cash, showcasing his strategic approach to wealth management.

Mark Zuckerberg is an American billionaire business magnate, computer programmer, internet entrepreneur and philanthropist. He co-founded the social media website Facebook and its parent company Meta Platforms of which he is the executive chairman, CEO and controlling shareholder.

3. Third Richest Person in the World – Jeff Bezos

The third richest person in the world – Jeff Bezos, aged 60, resides in the United States and holds the position of Founder and Executive Chair at Amazon (AMZN). His substantial net worth of $171 billion largely stems from a 10% ownership stake in Amazon, valued at $145 billion. Bezos diversifies his portfolio with private assets like Blue Origin ($11.2 billion), The Washington Post ($250 million), Koru ($500 million) and holds $14 billion in cash.

In July 2021, Jeff Bezos decided to give up his role as CEO of the ecommerce powerhouse Amazon while still maintaining his position as chairman.

Bezos owned an aerospace company named The Washington Post and Blue Origin, designing rockets and fled to space in July 2021.

5. Fifth World’s Richest Person – Bernard Arnault

Wealth: $184.7 billion
Country: France
Business: LVMH

Bernard Arnault, Chairman and CEO of LVMH, ranks fifth among the world’s top billionaires. LVMH, a conglomerate of over 70 luxury brands including Louis Vuitton and Christian Dior, acquired Tiffany & Co. for USD 15.8 billion in 2021. Arnault’s children also play vital roles in LVMH’s operations; his daughter Delphine oversees Dior, while his son Frédéric leads the conglomerate’s watch division since January 2024.

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7. Seventh Richest Man of the World – Warren Buffet

Warren Buffet, residing in the United States, aged 94, serves as the CEO of Berkshire Hathaway (BRK.A) with a considerable net worth of $119 billion. His ownership stake in Berkshire Hathaway stands at 15%, valued at $118 billion. Complementing this, he holds $1.28 billion in cash, reflecting a strategic approach to wealth management and investment.

Warren Buffet, widely recognised as the “Oracle of Omaha”, is one of history’s most accomplished investors. He is the head of Berkshire Hathaway, an investment conglomerate with a diverse portfolio encompassing numerous companies, such as insurance provider Geico, battery manufacturer Duracell and restaurant chain Dairy Queen.

6. World Sixth Wealthiest Person – Larry Page

Larry Page, aged 51 and residing in the United States, stands as the co-founder and board member of Alphabet (GOOG), boasting a substantial net worth of $119 billion. With a 6% ownership stake in Alphabet, valued at $102.7 billion, Page strategically manages his wealth. Notably, he holds additional assets, including $16.3 billion in cash, indicating a diversified and financially astute approach to his portfolio.

Lawrence Edward Page is an American billionaire business magnate. He is the co-founder of Google with Sergen Brin. He is the co-creator and namesake of PageRank, a search ranking algorithm for Google. He received the Macroni Prize 2004 with co-writer Brin.

8. World Eighth Richest Man – Sergey Brin

Sergey Brin, aged 50 and residing in the United States, the co-founder and board member of Alphabet (GOOG), possesses a substantial net worth of $113 billion. His influence stems from a 6% ownership stake in Alphabet, totaling $96.5 billion. Notably, Brin strategically manages his wealth, including significant assets like $16.4 billion in cash.

Brin is a co-founder of Google with Larry Page. He was the president of Google’s parent company, Alphabet Inc., until stepping down from his role in December 2019.

9. World’s Ninth Wealthiest Man – Amancio Ortega

Amancio Ortega Gaona, aged 88, is a Spanish billionaire and the founder of Inditex, the fashion group known for popular brands like Zara and Bershka. Renowned as a pioneer in fast fashion, Ortega was formerly the chairman of Inditex. As of October 2024, he has a net worth of $122.3 billion, making him the ninth richest person in the world.

10. Eighth Wealthiest Person in the World – Steve Ballmer

Steven Anthony Ballmer is an American businessman and investor. He was the CEO of Microsoft from 2000 to 2014. Currently, he owns the Los Angeles Clippers, a basketball team in the NBA. Ballmer is also a co-founder of the Ballmer Group, a company that focuses on philanthropy and investment. As of now, he is known as the tenth richest person in the world.

Do You Know Which Country is Known as The Boot?

Countries around the world often have special nicknames that represent their culture, history, or unique features. These names can come from the country’s shape, natural beauty, or famous traditions. In this article, we will know about the country known as The Boot.

Italy is famously known as “The Boot” because its shape resembles a high-heeled boot. It is a beautiful country in southern Europe and is famous for its culture, history, and landscapes.

Why Italy is Known as The Boot?

Italy is known as “The Boot” because its shape looks like a high-heeled boot. The country is located in Southern Europe, stretching into the Mediterranean Sea. Its narrow, boot-like peninsula extends southward, making it easy to recognize on a map. This unique shape is the reason behind its famous nickname.

Location of Italy

Italy is located in Southern Europe, extending into the Mediterranean Sea. It is surrounded by the Adriatic Sea to the east, the Tyrrhenian Sea to the west, and shares borders with four countries: France, Switzerland, Austria, and Slovenia.

Other Names for Italy

Italy is also called “Il Bel Paese,” which means “The Beautiful Country,” due to its stunning landscapes and rich history. Locally, it is often referred to as “La Penisola,” meaning “the Peninsula,” because it is shaped like a peninsula that stretches out into the sea.

Bordering Countries of Italy

Italy shares land borders with four countries:

France to the west
Switzerland to the north
Austria to the north
Slovenia to the east

Clean Ganga Mission Introduces Dolphin Ambulance

The National Mission for Clean Ganga (NMCG) is spearheading several important initiatives under the Clean Ganga Mission, focusing on the preservation of the Ganga’s biodiversity, particularly endangered species like the Ganga Dolphin. These efforts are part of a larger vision to restore the ecological balance of the river while protecting the flora and fauna that depend on it. One of the key initiatives in this mission is the launch of a special Dolphin Ambulance to aid in the rescue of injured Ganga Dolphins, a species vital to the river’s ecosystem.

Dolphin Ambulance Initiative

The special ambulance will be used for rescuing injured Ganga River Dolphins, the national aquatic animal of India.
The project, titled “Advancing Rescue System for the Protection of Stranded Ganges River Dolphins,” has an estimated budget of Rs 1 crore.
The initiative will also raise awareness for dolphin conservation and train communities for better management and response to dolphin-related issues.

Along with the Dolphin Ambulance, NMCG has approved several other conservation projects aimed at safeguarding aquatic life in the Ganga and its tributaries. These projects highlight the significant role the Ganga plays in preserving not just the river’s physical cleanliness but also the life it sustains.

Key Projects Approved

Turtle Conservation Project

The NMCG approved a project for the conservation of endangered turtle species in the Ganga basin, specifically in Uttar Pradesh.
The project aims to rehabilitate and reintroduce three highly threatened turtle species.
The estimated cost of the project is Rs 78.09 lakh.
It also includes establishing a spatial monitoring and reporting tool at the National Chambal Sanctuary to track the progress of the conservation effort.

Environmental Flow Assessment of Key Rivers

A project for assessing the environmental flow of important rivers like Chambal, Son, Damodar, and Tons was also approved.
The goal is to study water quantity and quality, improve natural flow patterns, and document biodiversity within these river systems.
The estimated budget for this project is Rs 11 crore.

“Rag-Rag Mein Ganga – Ek Jeevan Dhara” (Season 3)

NMCG also approved the third season of the travelog series, which showcases the importance of the Ganga and conservation efforts from a fresh perspective.
The season will focus on topics like ecological balance, the protection of aquatic life, eco-tourism, cultural heritage, and community involvement in conservation.

Summary/Static	Details
Why in the news?	Clean Ganga mission to start special Dolphin Ambulance
Dolphin Ambulance for Ganga River Dolphins	Special ambulance for rescuing injured Ganga Dolphins. Focus on awareness and community training. Budget – Rs 1 crore
Other Initiatives Launched
Turtle Conservation in Ganga Basin	Rehabilitation of endangered turtles and reintroduction of three threatened species in Uttar Pradesh. Budget – Rs 78.09 lakh
Environmental Flow Assessment (Chambal, Son, Damodar, Tons Rivers)	Assess water quality, flow systems, and biodiversity of key rivers. Budget – Rs 11 crore
“Rag-Rag Mein Ganga – Ek Jeevan Dhara” (Season 3)	Travelog focusing on ecological balance, aquatic life protection, and community involvement.

First Bodoland Mohotsov to Be Inaugurated by PM in Delhi

Prime Minister Narendra Modi will inaugurate the first-ever Bodoland Mohotsov on 15th November at 6:30 PM at the SAI Indira Gandhi Sports Complex in New Delhi. The two-day festival, which will be held on 15th and 16th November, will celebrate the rich culture and heritage of the Bodoland region. The Prime Minister will also address the gathering during the inauguration.

1st Bodoland Mohotsov

Overview

Event: Inauguration of the 1st Bodoland Mohotsov by Prime Minister Narendra Modi.
Date & Time: 15th November, 6:30 PM.
Venue: SAI Indira Gandhi Sports Complex, New Delhi.
Duration: Two-day event on 15th and 16th November.
Theme: “Peace and Harmony for Prosperous Bharat”.

Objectives and Focus Areas

Cultural Celebration: Focus on language, literature, and culture of the Bodo community.
Promote Peace: Celebrate the journey of peace post-Bodo Peace Accord of 2020.
Integration: Aim to integrate the indigenous Bodo people from Bodoland, Assam, West Bengal, Nepal, and border areas of North East India.
Cultural and Linguistic Heritage: Emphasis on promoting the rich culture, language, and education of the Bodo community and other communities from the Bodoland Territorial Region (BTR).

Key Sessions and Themes

Session on Bodo Culture

Topic: “The rich Bodo culture, tradition, and literature contributing towards Indian heritage and traditions.”
Focus on Bodo culture, traditions, and literature.

Session on Education

Topic: “Challenges and opportunities of Mother Tongue medium-of-instruction through National Education Policy (NEP) 2020.”
Discuss the integration of mother-tongue education in NEP.

Thematic Discussion on Tourism and Culture

Topic: “Indigenous cultural meet & discussion on building a ‘Vibrant Bodoland’ region through culture & tourism.”
Goal: Promote tourism and cultural richness of the Bodoland region.

Significance of the Event

Peace and Recovery

The event celebrates the recovery and resilience of Bodoland after the 2020 Bodo Peace Accord.

Impact of Bodo Peace Accord

Ended decades of conflict and violence in Bodoland.
Acted as a catalyst for other peace settlements across the region.

Goal and Vision

Promote Prosperity: To foster peace, harmony, and prosperity in Bodoland and beyond.
Cultural Awareness: Raise awareness about Bodoland’s cultural, linguistic, and tourism potential.

Attendees

Over 5,000 cultural, linguistic, and art enthusiasts will participate.

Attendees from

India: Bodoland region, Assam, West Bengal, Tripura, Nagaland, Meghalaya, Arunachal Pradesh.
International: Nepal, Bhutan, and other neighboring countries.

Summary/Static	Details
Why in the news?	Prime Minister Narendra Modi will inaugurate the first-ever Bodoland Mohotsov
Inauguration Date & Time	15th November, 6:30 PM
Venue	SAI Indira Gandhi Sports Complex, New Delhi
Duration	Two-day event: 15th and 16th November
Theme	“Peace and Harmony for Prosperous Bharat”
Objectives	Celebrate Bodo culture, language, and literature. – Promote peace post-Bodo Peace Accord (2020). – Integration of indigenous Bodo people from Assam, West Bengal, Nepal, and North East India. – Emphasize cultural, linguistic, and educational heritage of Bodoland
Key Sessions	– Bodo Culture: “The rich Bodo culture, tradition, and literature contributing towards Indian heritage.” – Education: “Challenges and opportunities of Mother Tongue medium-of-instruction through NEP 2020.” – Tourism & Culture: “Building a ‘Vibrant Bodoland’ through culture & tourism.”
Significance	– Celebrates peace and recovery post-Bodo Peace Accord. – Celebrates the impact of the Bodo Peace Accord in ending conflict and promoting peace.
Goal & Vision	– Foster peace, harmony, and prosperity in Bodoland and beyond. – Raise awareness of Bodoland’s cultural, linguistic, and tourism potential.

Sabarimala Pilgrimage Gets Dedicated Weather Service from IMD

For the first time, the India Meteorological Department (IMD) has introduced a localized weather forecasting system for the Sabarimala pilgrimage, similar to those used for the Amarnath and Char Dham yatras. The IMD announced the installation of three rain gauges at key locations Sannidhanam, Pamba, and Nilakkal.

Introduction of Localized Forecasting

The India Meteorological Department (IMD) has introduced a localized weather forecasting system for the Sabarimala pilgrimage, similar to those for Amarnath and Char Dham yatras.
The initiative is designed to provide accurate and timely weather information to the pilgrims visiting the Sabarimala temple.

Rain Gauges Installed

IMD has installed three rain gauges at key locations: Sannidhanam, Pamba, and Nilakkal.
These gauges will provide a three-day weather forecast, which will soon be upgraded to real-time weather bulletins known as “nowcasts.”

Temperature Monitoring

The IMD also plans to install temperature gauges in the region to monitor the challenges posed by rising temperatures and high humidity during dry spells.

Collaboration with Pathanamthitta District Administration

The weather forecasting initiative follows a request from the Pathanamthitta district administration, seeking real-time weather updates due to the region’s vulnerability to extreme rainfall.
The collaboration includes training local district personnel to collect data from the rain gauges.

Potential for Future Upgrades

While initially considering Automatic Weather Stations (AWS) for Sabarimala, the IMD opted for rain gauges to expedite the process.
A permanent weather monitoring facility is under consideration to enhance the forecast system in the future.

Integration with AI Chat Bot

The weather forecasts will soon be integrated into the “Swamy AI Chat Bot” app, launched by the state government.
The app, which provides assistance in six languages, will offer real-time weather updates for pilgrims.

Safety Measures

The path from Pamba to Sannidhanam, featuring small streams and the Pamba River, is a focus for safety due to its vulnerability to flooding.
The 2018 Kerala floods caused severe damage to the region, highlighting the need for effective weather monitoring.

Summary/Static	Details
Why in the news?	IMD launches dedicated weather forecast for Sabarimala pilgrimage
Rain Gauges Installed	Three rain gauges installed at Sannidhanam, Pamba, and Nilakkal for a 3-day weather forecast.
Future Forecast Upgrades	Rain forecasts to be upgraded to real-time weather bulletins (“nowcasts”)
Temperature Monitoring	Temperature gauges to be installed to monitor high humidity and rising temperatures
App Integration	Weather updates to be integrated into “Swamy AI Chat Bot” app for Sabarimala pilgrims, available in six languages
Collaboration	Collaboration with Pathanamthitta district administration for real-time weather updates

China Unveils Megaport in Peru, but Locals Feel Left Behind

China’s $1.3 billion megaport in Chancay, Peru, majority-owned by Chinese shipping giant Cosco, promises to connect South America to Asia and boost regional trade. However, locals in this coastal desert village, where many live without basic services, express dissatisfaction, claiming the port harms their livelihoods and brings no tangible benefits. While the government envisions significant economic growth, the residents of Chancay, particularly the fishermen, see the project as a threat to their resources and environment.

Port Project and Local Concerns

The Chancay megaport, which will feature 15 quays and attract over $3.5 billion in investment, aims to become a key transshipment hub for South American exports, such as Peru’s blueberries and Chile’s copper. Despite this, locals complain about the destruction of fishing grounds due to dredging, which deepened the shipping channel. Fishermen now face reduced catches and increased expenses, forcing them to travel farther to find fish. The community fears pollution and oil spills, recalling the 2022 spill at a nearby refinery.

Economic Promise vs. Social Realities

While President Xi Jinping highlighted the potential for job creation and economic benefits, many Chancay residents are skeptical. The dredging has affected fish breeding areas, and the port’s breakwater has altered currents, damaging surfing conditions and local tourism. Despite officials’ reassurances, the lack of local infrastructure, including clean water, sewage systems, and healthcare facilities, contrasts sharply with the modern port being developed.

Government and Corporate Response

Cosco and the Peruvian government recognize the stark contrast between the new port and the underdeveloped village. Cosco’s manager in Chancay, Mario de las Casas, acknowledged the inequality and mentioned studies aimed at integrating the port with local development. Yet, for many in Chancay, the port’s promise of prosperity remains distant, overshadowed by its immediate environmental and economic impacts.

Summery of the News

Why in News	Key Points
China unveils Chancay megaport in Peru	Chancay megaport project, $1.3 billion investment, majority-owned by Chinese shipping giant Cosco.
Location	Chancay, Peru, on the coast of Peru’s desert region.
Key Figures	China’s President Xi Jinping, Peruvian President Dina Boluarte.
Port Details	15 quays, 17-meter deep shipping channel, large industrial park.
Economic Impact	Expected to generate millions of dollars, turn coastal cities into special economic zones.
Local Impact	Fishermen report loss of fishing grounds, destruction of breeding areas, and reduced fish catches.
Environmental Concerns	Dredging affecting fish breeding grounds, possible pollution risks, and oil spills.
Local Demographics	Chancay population: 60,000, with 33% lacking running water.
Government’s View	Peruvian government promotes port as a strategic transshipment hub for regional exports.
Cosco’s Contribution	Cosco plans to reduce inequality and spur local growth by connecting port development with local infrastructure.
Important Exports from South America	Peru’s blueberries, Brazil’s soybeans, Chile’s copper.

Tropical Storm Sara Hits Honduras, Threatens Floods in Central America and Mexico

Tropical Storm Sara made landfall in northern Honduras late Thursday, bringing heavy rain and the threat of life-threatening flooding to parts of Central America and southern Mexico. The storm hit near Brus Laguna, Honduras, and is expected to continue its path west, impacting Belize and Mexico’s Yucatan Peninsula. Forecasts predict up to 30 inches of rain in some areas, with winds of 45 mph (75 km/h) and slow movement at 10 mph (17 km/h).

Impact on Honduras

Landfall Location: The storm made landfall 105 miles (165 km) west-northwest of the Cabo Gracias a Dios on the Honduras-Nicaragua border, near the small village of Brus Laguna.

Rainfall Forecast: Sara is expected to drop 10 to 20 inches of rain (25-50 cm), with some regions possibly receiving up to 30 inches (75 cm). This could lead to severe flooding and landslides.

Threat to Mexico and Belize

Movement and Wind Speed: With winds of 45 mph (75 kph), Sara is moving westward at 10 mph (17 kph). It is forecast to pass near Roatan, a popular tourist destination, before heading towards Belize and the Yucatan Peninsula.

Flooding Risk: Mexican authorities have warned of intense rains, which could cause significant flooding in the Yucatan resort areas.

Summery of the News

Category	Key Points
Why in News	Tropical Storm Sara made landfall in Honduras, bringing heavy rain and flooding risks to Central America and Mexico.
Storm’s Landfall	Made landfall near Brus Laguna, Honduras, about 105 miles (165 km) west-northwest of Cabo Gracias a Dios.
Rainfall Forecast	Expected rainfall: 10 to 20 inches (25-50 cm), with isolated areas receiving up to 30 inches (75 cm).
Wind Speed	Winds at 45 mph (75 km/h) at landfall.
Storm Path	Moving westward at 10 mph (17 km/h), headed toward Belize and the Yucatan Peninsula.
Impacted Areas	Honduras (Brus Laguna, Roatan), Belize, Mexico (Yucatan Peninsula).
Potential Hazards	Life-threatening flooding and landslides expected due to heavy rainfall.
Tourist Destination	Roatan, a popular tourist destination in Honduras, forecasted to be affected by the storm.

SBI Seeks $1.25 Billion in 2024’s Largest Dollar-Denominated Loan

State Bank of India (SBI) is aiming to secure a $1.25 billion five-year loan, which would be the largest dollar-denominated loan from India’s financial sector in 2024. The loan, arranged by CTBC Bank, HSBC, and Taipei Fubon Bank, will be used for general corporate purposes. SBI’s move follows a trend of increasing foreign currency borrowing by Indian financial institutions, particularly non-banking finance companies (NBFCs), due to stricter domestic regulations. Despite the rising demand, India’s total dollar-denominated loan volume has decreased by 27% this year.

Key Loan Details

Loan Amount: Up to $1.25 billion

Duration: Five years

Interest Margin: 92.5 basis points over the Secured Overnight Financing Rate (SOFR)

Purpose: General corporate needs

Arrangement: By CTBC Bank, HSBC, and Taipei Fubon Bank

Location: Gujarat International Finance Tec-City

Industry Context

SBI’s move to raise foreign currency debt is part of a broader trend seen among Indian financial institutions. Non-banking finance companies (NBFCs), especially, have increasingly tapped into dollar-denominated loans due to tighter domestic regulations. For example, Cholamandalam Investment & Finance Co. has recently sought a $300 million syndicated term facility.

Comparisons with Past Borrowings

This loan follows SBI’s $750 million borrowing raised earlier in July 2024, showcasing the bank’s continued reliance on international markets to raise funds. Despite such high-profile transactions, India’s dollar loan volume has shrunk by 27% in 2024, largely due to the absence of large corporate borrowings, with a total of $14.2 billion raised this year.

Summery of the News

Why in News	Key Points
State Bank of India (SBI) seeks $1.25 billion loan	Largest dollar-denominated loan from India’s financial sector in 2024.
Loan Arrangement	Arranged by CTBC Bank, HSBC, and Taipei Fubon Bank.
Loan Terms	$1.25 billion, 5-year loan, 92.5 basis points over SOFR.
Loan Purpose	For general corporate purposes.
SBI Branch Location	Gujarat International Finance Tec-City (GIFT City).
SBI’s Previous Loan (2024)	Raised $750 million in July 2024.
India’s Dollar Loan Volume in 2024	Decreased by 27% to $14.2 billion.
Other Financial Institutions’ Borrowings	Cholamandalam Investment & Finance Co. raised $300 million.
Financial Hub	Gujarat International Finance Tec-City (GIFT City) – India’s new financial hub.

Tim Southee to Bid Farewell to Cricket After World Test Championship

Tim Southee, New Zealand’s all-time leading wicket-taker, has announced his decision to retire from international cricket after the completion of the current ICC World Test Championship campaign. The 35-year-old former Test captain will retire following the Black Caps’ upcoming home series against England, marking the end of an illustrious Test career that has spanned almost two decades.

Retirement Announcement

Tim Southee will retire from Test cricket after New Zealand’s home series against England.
The series is expected to conclude at Seddon Park in Hamilton, his home ground, just before Christmas.
He will also consider making himself available for the World Test Championship Final at Lord’s if New Zealand qualifies.

Career Highlights

Southee has represented New Zealand in almost 400 international appearances.
He is New Zealand’s greatest-ever wicket-taker with 770 international wickets.
The bowler has featured in four ICC Men’s Cricket World Cups, seven ICC Men’s T20 World Cups, and two Champions Trophy events.
He played in the inaugural World Test Championship Final in 2021.

Retirement Reason

Southee feels it is the right time to retire from Test cricket to allow the next generation of New Zealand bowlers to emerge.
He expressed his pride in representing New Zealand for 18 years and called it the greatest honor of his career.

Test Cricket Significance

Test cricket holds a special place in his heart, and he sees the series against England as the perfect way to end his Test career, especially given that his career began against England.

Gratitude

Tim Southee expressed deep gratitude towards his family, friends, coaches, fans, and everyone who supported his career throughout the years.

Legacy

Southee leaves behind a legacy as one of the finest bowlers in international cricket, known for his commitment and stellar performances across various formats.

Stats of Tim Southee

Test – 385 Wickets in 104 Matches
ODI – 221 Wickets in 161 Matches
T20 – 164 Wickets in 126 Matches
Winner of ICC World Test Championship in 2021.

Summary/Static	Details
Why in the news?	Tim Southee will retire from Test cricket after the series against England
Career Highlights	– Almost 400 international appearances – 770 international wickets (New Zealand’s all-time leader) – Played in 4 ICC World Cups, 7 ICC T20 World Cups, and 2 Champions Trophy events – Played in the 2021 World Test Championship Final
Retirement Reason	To allow the next generation of bowlers to shine; feels honored by 18 years of representing New Zealand.
Career Stats	– Test: 385 wickets in 104 matches – ODI: 221 wickets in 161 matches – T20: 164 wickets in 126 matches
Achievements	Winner of ICC World Test Championship in 2021.