On December 18, 2021 the Defence Research and Development Organisation (DRDO) successfully tested the new generation nuclear capable ballistic missile ‘Agni P’.
Agni P is a two-stage canisterised solid propellant ballistic missile, having a dual redundant navigation and guidance system. It is a medium-range ballistic missile, developed by Defence Research and Development Organisation (DRDO) as the successor of Agni-I and Agni-II missiles. It is the sixth missile in Agni (missile) series of ballistic missile. The missile can be either transported on train or stored in canister.
DRDO had successfully test fired the first Agni-P on June 28, 2021, from Abdul Kalam Island. The missile carried two multiple independently targetable re-entry vehicle (MIRV). It is a three-stage solid fuel missile, having the capability of manoeuvrable re-entry vehicle (MaRV).
Second successful test was conducted on December 18, 2021, from the coast of Odisha at Balasore. It is a two-stage Agni-P missile and has been developed with new propulsion systems. It is the smallest and lightest missile among entire Agni series of ballistic missiles.
On December 16, 2021, Typhoon Rai hit the south-eastern part of the Philippines, bringing heavy rains and flooding causing displacement of thousands over a large area.
Typhoon Rai is called as Typhoon Odette in the Philippines. It is currently a powerful tropical cyclone, which impacted the Philippines after passing near the island of Palau. It became the first Category 5 super typhoon in December month. It later weakened steadily, as it traversed Visayas and exited into the Sulu Sea.
Sulu Sea is a water body in south-western area of the Philippines. The sea comprises of a number of islands, namely:
Philippines is an archipelagic country, located in Southeast Asia. It is situated in western Pacific Ocean. It comprises of around 7,640 islands. These islands are broadly categorized into three main geographical divisions- Luzon, Visayas, and Mindanao. The Philippines shares boundaries with South China Sea, Philippine Sea and Celebes Sea as well as shares maritime borders with Taiwan, Japan, Palau, Indonesia, Malaysia and Brunei.
As per brokerage houses, proposal by SEBI to treat all orders emanating from application programming interface (API) as algorithmic or algo order might hamper the growth of such trading in India.
Brokerage houses are of the view that, there is a need to regulate nascent algo market, especially in the light of media reporting on a number of cases of retail clients who lost money based on false promises made by some vendors. However, to tackle the few bad cases, SEBI’s regulation is putting in hurdles which in turn can restrict the growth of algo trading in India. It would become difficult for brokers to provide APIs, if conditions mentioned in consultation paper are implemented.
Algorithmic Trading is a method to execute orders using automated pre-programmed trading instructions accounting for variables like price, time, and volume. Such trading leverages the speed and computational resources of computers relative to human traders. This trading has been gaining traction with retail as well as institutional traders. It is used by investment banks, mutual funds, pension funds and hedge funds. According to a 2019 study, around 92% of trading in Forex market was performed by trading algorithms.
SEBI is the regulatory body for securities & commodity market in India. it works under the ownership of Ministry of Finance. SEBI was established as non-statutory body on April 12, 1988. It was given Statutory Powers & became autonomous body on January 30, 1992 by the SEBI Act, 1992.
Prime Minister Narendra Modi has been conferred with Bhutan’s highest civilian award called Ngadag Pel gi Khorlo on December 17, 2021.
The Druk Gyalpo is the head of state of Bhutan. Bhutan is also known as Drukyul, in the Dzongkha language. It translates to “The Land of Thunder Dragon”. Kings of Bhutan are called as Druk Gyalpo (Dragon King) while, Bhutanese people call themselves Drukpa (people of Druk).
Present Sovereign of Bhutan is Jigme Khesar Mangyel Wangchuck. He is the 5th Druk Gyalpo. He wears the Raven Crown, the official crown worn by the kings of Bhutan.
Order of the Dragon King is the highest decoration of Bhutan. It is awarded to recognise a lifetime of service to the people and Kingdom of Bhutan. This decoration exists in two categories. The highest decoration is the pinnacle of the honour system in Bhutan. It was founded on November 7, 2008, to honour those who have devoted lifetime of service for nation and people of Bhutan.
On December 15, 2921, forest officials rescued a barn owl in Supaul district of Bihar, in a rate sighting.
The Barn Owl is scientifically called as Tyto alba. It is the most widely distributed species of owl worldwide. The species is found almost everywhere in across the world, except for the polar and desert regions, Indonesia, Pacific Islands and Asia north of the Himalayas. It is also called as common barn owl.
In the tropical regions, the Barn owls can breed at any time of year. However, some seasonality in nesting is still evident. In the regions of distinct wet & dry seasons, egg-laying generally takes place during the dry season. In arid regions like Australia, breeding might be irregular and might happen in wet periods.
The Tamil Nadu government declared Tamil Thai Vaazhthu, as the State Song on December 17, 2021.
The observations on Tamil Thai Vaazhthu song were made by Justice G R Swaminathan in Kan. Ilango v. State case, on December 6. State was represented by Inspector of Police & Another. HC quashed an FIR registered against a group of individuals headed by Kan. Ilango. The group had allegedly entered the Kanchi Mutt branch in Rameswaram in 2018 and raised slogans. They also criminally intimidated the manager of Kanchi mutt.
The group protesters belonged to the Naam Tamilar Katchi, which is a Tamil nationalist organisation led by Senthamizhan Seeman. They were protesting against the Pontiff of Kanchi Kamakoti Peetam who had remained sitting during a function, while Tamil Thai Vaazhthu was played. This had triggered considerable outrage.
The court has ruled that Tamil Thai Vaazhthu is a prayer song and not an Anthem. Highest reverence and respect should be shown to the prayer song but it is not necessary to stand for it.
Court made reference to a call by Government of Tamil Nadu on June 17, 1970. Then, the government had directed that a song from ‘Manonmaneeyam’, should be sung as prayer song at the beginning of all functions organised by government, local bodies and educational institutions. Manonmaneeyam is a famous Tamil drama written by P Sundaram Pillai.
Russia released a draft agreement it proposed to the North Atlantic Treaty Organisation (NATO) on security measures for both the sides.
NATO is an intergovernmental military alliance of 1 Eurasian country, 2 North American countries and 28 European countries. It implements the North Atlantic Treaty, signed on April 4, 1949. NATO comprises a system of collective security, wherein its independent member states agree to mutual defense against the attack by any external party. NATO is headquartered in Brussels, Belgium.
Relations between Russia and NATO military alliance were established in 1991 within the framework of North Atlantic Cooperation Council. They joined the Partnership for Peace Programme in 1994. Since then, both the sides have signed multiple important agreements on cooperation. Russia-NATO Council was established in 2002 to handle security issues and joint projects.
On December 17, 2021, India and Vietnam signed a letter of intent for enhanced cooperation in the postal sector. It was singed in line with the comprehensive strategic & economic ties between both the countries.
The letter of intent highlights the joint objectives of India and Vietnam:
Relations between India-Vietnam have been exceptionally friendly and cordial. Foundations for the relations were laid by Prime Minister Nehru and President Ho Chi Minh some 50 years ago. However, the cultural and economic links between both the countries date back to 2nd century. Bilateral ties have developed extensively since 1992, in fields like economic ties, agriculture and manufacturing. Relation is not only limited to economic reasons, but there has been extensive fostering of bilateral military cooperation which includes:
Recently, the Competition Commission of India (CCI) fined US e-commerce giant, Amazon with Rs 200 crore.
According to CCI order, “it is required to re-examine the combination and transactions”. In accordance with sub-section (2) of Section 45 of the Companies Act, CCI also directed Amazon to give notice in Form II within 60 days from the receipt of the order. Furthermore, the approval granted on November 28, 2019 will remain in abeyance until such notice is disposed of. This is so because, Amazon had suppressed the actual scope of the deal and had made false & incorrect statements while getting clearances.
The CCI has imposed a penalty of Rs 200 crore on Amazon because, it had failed to identify and notify Future Retail Limited Shareholders Agreement (FRL SHA) under the agreement. Identification was an obligation under Section 6(2) of the Act. Amazon is required to pay the fine within two months.
Supreme Court had also upheld the enforcement of SIAC’s order, that puts on hold the deal between Future Group and Reliance Industries Limited.
On December 17, 2021, World Health Organisation (WHO) gave approval for emergency use of Covovax vaccine for Children.
Recently, CEO of SII, Adar Poonawalla, announced that SII has planned to launch a COVID-19 vaccine called Covovax for children in next six months. He noted that, this vaccine is under trial and it would offer protection to children aged three years and more.
WHO approved Covovax after it was assessed under its emergency use listing (EUL) procedure on the basis of review of data on quality, safety & efficacy, a programmatic suitability, risk management plan, and manufacturing site inspections which is carried by the Drugs Controller General of India.
Novavax COVID-19 vaccine is sold under the brand name Nuvaxovid and Covovax. This subunit COVID-19 vaccine has been developed by Novavax and the Coalition for Epidemic Preparedness Innovations (CEPI). Vaccine is undergoing trials in India under the brand name Covovax. It is stable at 2 to 8 °C.
The vaccine is administered in two doses, 21 days apart.
Subunit vaccine comprises of purified parts of the pathogen which are antigenic, or necessary to evoke a protective immune response. It does not contain the whole pathogen, as present in live attenuated or inactivated vaccine. But contains only the antigenic parts like proteins, polysaccharides or peptides.
Since subunit vaccine doesn’t have live components of the pathogen, there is no risk of introducing the disease. It is safer and more stable as compared to vaccine containing whole pathogens.