Kenyan President William Ruto’s visit to India from December – 4 to 6 2023
The President of the Republic of Kenya, William Samoei Ruto was on an official visit to India fromDecember 4 to 6, 2023 at the invitation of the President of India. This marks Ruto’s 1st visit to India asPresident representing Kenya.
- India announced USD 250 million Line of Credit(LOC) to Kenya to modernize its agri-sector.
- India and Kenya have signed 5 Memorandum ofUnderstanding (MoUs) in various sectors suchas: sports, education, culture and digital solutions.
- The Indian Council For Cultural Relations(ICCR) scholarships to be increased from 48 to 80per year.
- India and Kenya unveiled a blueprint on”JointVision Statement on Maritime Cooperation in theIndian Ocean Region- BAHARI (Ocean inSwahili)”.
About Kenya:
President – William Samoei Ruto
Capital – Nairobi
Currency – Kenyan Shilling
Indian Army and MeitY Partners to Infuse Digital Infrastructure in Army
Indian Army (IA) and the Ministry of Electronics and Information Technology (MeitY) collaborated toinfuse cutting-edge technology and digitalinfrastructure into the core of the Indian Army’soperational framework.
Key Points:
- The collaboration is rooted in a ‘Whole of theNation’ approach.
- The partnership aims to establish indigenous fifthGeneration(5G) labs and plans to designate theMilitary College of TelecommunicationEngineering in Madhya Pradesh as a sixthgeneration (6G) test bed, to drive technologicaladvancements.
- AI is developing military-grade 5G and 6Gtelecom apps in collaboration with MeitYThis includes the creation of Artificial Intelligence (AI)-enabled decision-making tools, predictive analytics,and advanced cybersecurity measures.
Mercom’s ‘Leading Global Large-Scale Solar PV Developers’ report: Adani GreenEnergy Ranked 2nd
Adani Green Energy Ltd (AGEL), a part of Adani Group, is ranked as the World’s 2nd largest large-scalesolar PhotoVoltaic (PV) developer in the Mercom Capital Groups’s annual global report titled “LeadingGlobal Large-Scale Solar PV Developers”. AGEL has a total solar portfolio of 18.1 GigaWatt (GW).The list is topped by France-based TotalEnergies with 41.3 GW of solar in its portfolio of projects. CanadabasedBrookfield Renewable Partners is ranked 3rd with a capacity of 18 GW.AGEL is the only solar PV developer from Asia to feature on the list.
About the Report:
- The report, which includes data from July 2022 to June 2023,features a list of top 10 global large-scale (utility-scale) solarPV developers based on projects in operation, underconstruction, and awarded (power purchase agreements (PPA)-contracted).
- The report considered Large-scale projects with operationalcapacity of 1 MegaWatt (MW) or more.
S&P’s Ranking 2023: LIC Becomes World’s 4th Largest Insurer based on Reserve;Germany’s Allianz SE Tops
According to S&P Global Market Intelligence’s new ranking “The Worlds Largest Life Insurers, 2023”based on life and accident & health reserves, Life Insurance Corporation of India (LIC) has been named the4th largest insurer in the world.LIC’s reserves stood at USD 503.7 billionin the fiscal year 2023 (FY23) – April2022 to March 2023. LIC is the onlyIndian company featured on the list.The 2023 ranking is topped by Germany’sAllianz SE with a reserve of USD 750.2billion followed by China Life InsuranceCompany Ltd, China(USD 616.90 billion)and Nippon Life Insurance Company,Japan (USD 536.80 Billion)
Key Points:
- The list is dominated by the EuropeanInsurance Companies from 6 Europeancountries, taking 21 spots.The United Kingdom(UK) is home to the most companies on the list. 7 companies on the list areheadquartered in UK.
- Asia is the region with 2nd highest number of entries on the list. Asian companies accounts for 17 spots onthe list.China and Japan share the top spots in Asia with 5 companies headquartered in the two countries.
- In terms of premium income, India ranks 7th in world life insurance in 2023, a rise from 9th rank in 2022.
- North America had 12 spots on the list, with 8 companies based in the United States of America (USA), 2in Canada, and 2 in Bermuda.On an individual country basis, the USA has the highest number of life insurers on the top 50 list.
About Life Insurance Corporation of India (LIC):
Chairperson– Siddhartha Mohanty
Headquarters– Mumbai, Maharashtra
Establishment– 1956
ADB, Government of India sign USD 175mn Loan to Improve Connectivity in MP
The Government of India (GoI) and Asian Development Bank (ADB) signed a USD 175 million loan toimprove the connectivity and resilience of roads in MadhyaPradesh (MP).This project will enhance connectivity in the state road networkacross 14 districts in MP.
Key Points:
- ADB will enhance Madhya Pradesh Road DevelopmentCorporation Limited(MPRDC) by upgradation of 500 km of roads to two-lane, with climate-resilient design, innovative safety features and facilities catering to elderly,women, children, and people with disabilities. It will also develop strategies for green technology andelectric vehicle infrastructure.
- Formulate gender equality strategy, establish internship program, and engage women self-help groups.
- Conduct livelihood training for women and girls; build at least two roadside markets.
- This project will also connect rural areas to growth centres and industrial corridors.
About Asian Development Bank (ADB):
President – Masatsugu Asakawabr>Headquarters – Mandaluyong City, Manila, Philippinesbr>Established in – 1966br>Members – 68
About Madhya Pradesh (MP):
Governor– Mangubhai C. Patel
Chief Minister– Shivraj Singh Chouhan
Wildlife Sanctuaries – Singhori Wildlife Sanctuary, Son Gharial Wildlife Sanctuary, Veerangana DurgavatiWildlife Sanctuary
Tiger Reserve – Panna Tiger Reserve, Sanjay Tiger Reserve
American Pop Singer Taylor Swift Named Time Magazine’s 2023 Person of the Year,1st Woman to be Named Twice
TIME, the news magazine based in the United States of America (USA), has named the American singersongwriterTaylor Alison Swift as its 2023 Person of the Year and became the 1st person to be recognisedfor her achievements in the arts.With this, She became the 1st woman toappear twice on a Person of the Year coversince the nominations began in 1927.
- Lionel Andrés Messi, Captain ofArgentina’s national football team, hasbeen named Time magazine’s Athlete ofthe Year for 2023.
- An American entrepreneur Sam Altman,the Chief Executive Officer (CEO) and cofounderof OpenAI, has been named TimeMagazine’s CEO of The Year 2023.
- American actor and singer, Alex EugeneNewell, was named TIME’s Breakthroughof the Year 2023.
About Time Magazine:
CEO– Jessica Sibley
Headquarters– New York City, USA
Founded in– 1923
Cambridge Dictionary Reveals ‘Hallucinate’ as Word ofthe Year 2023
- The Cambridge dictionary has chosen “hallucinate” – a verb as itsWord of the Year for 2023. This decision is in recognition of the newmeaning the word has acquired in the context of artificialintelligence (AI) algorithms.
- The traditional definition of “hallucinate” refers to the experience ofseeing, hearing, or feeling things that are not there
- The new meaning specifically applies to AI systems that generate text, images, or other outputs that are not based on real-world data.
- This can include things like chatbots that make up stories or image generators that create fictional scenes