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All About G7 Summit – 2019



G7 Summit

The 45th G7 Summit was held on 24th – 26th of August 2019, in Biarritz, Nouvelle-Aquitaine, France. The focus of discussion was on fighting income, gender inequality, and preserving biodiversity.

In March 2014, the G7 announced that a meaningful discussion was currently not possible with Russia in the context of the G8. From then on, meetings have continued within the G7 process. The first summit was held in Rambouillet, France, in 1975.

What does the summit do?

G7 was initially formed to discuss the economic and political concerns prompted by the 1973 oil crisis. The members of the Organization of Petroleum Export Countries increased the price of oil and cut global supplies to those countries who supported Israel during the Yom Kippur War.

From then onwards, the summit began to discuss international issues relating to trade, energy security, climate change, global health issues and more.

The countries that are part of the G7 include the United Kingdom, Canada, France, Germany, Italy, Japan, and the United States. Currently, the G7 is reckoned as the seven wealthiest and most advanced nations in the world.

G7 Summit – 2019

On Monday Prime Minister Narendra Modi met US President Donald Trump on the interests of the G7 Summit with consideration of world difficulties including the fires destroying the Amazon rainforest, but dominated by US President Donald Trump’s trade wars and subjects over the group’s unity.

Although India was not a member of the G7 group, yet PM Modi attended the G7 summit as a special guest. French President Emmanuel Macron has invited him to take part in the summit.

The Ministry of External Affairs (MEA) said that the invite was a “reflection of the personal chemistry” between the two leaders and also “recognition of India as a major economic power”.

G7 Summit in France

Source: Wikimedia

The summit had discussions on various relevant topics such as:

  • The AMAZON Forest

The main agenda of G7 comprised of discussions of the fires destroying the Amazon. The important part was Trump did not attend this session, instead of a senior member of the administrative took part. An indeed more significant concern is Trump insisting neighbouring associates into hard negotiations on market access and tariffs. At the end of the discussion, G7 countries vouched for $20 million to support action against wildfires in the Amazon rainforest.

  • IRAN attended the summit

Iran’s foreign minister Mr Mohammad Javad Zarif attended the summit. He was yet another guest invited by President Macron. But it signified an uncertainty by the French host Emmanuel Macron, who is exploring to reduce stresses overhead a nuclear standoff between Iran and the US. Mr Zarif’s arrival for the summit caught many diplomats and the news media by surprise.

  • TRUMP and MODI discussion on J&K

In the conversation without directly connecting to the Kashmir issue, PM Modi said, “There are many issues with Pakistan that are bilateral, We don’t bother other countries about these issues. We can find solutions through discussions also India and Pakistan were together before 1947, and I’m confident that we can discuss our problems and solve them together,”. To which US President Donald Trump replied that, all issues between India & Pakistan are bilateral and that is why they don’t bother any other country about them.

  • France also classified the arising five purposes for the summit:
  1. Challenging inequality of opportunity, promoting in particular gender equality, access to education and high-quality health services.
  2. To reduce the environmental difference by preserving the planet by climate investment and a balanced eco-friendly transformation, protecting biodiversity and the oceans.
  3. To reinforce each social dimension of globalisation through further favourable and even-handed trade, tax and development policies.
  4. To necessitate movement for peace fronting security threats and terrorism which minimise the institutions of the societies.
  5. To tap into the opportunities generated by digital technology and artificial intelligence (AI).
  • Trump unlocked opportunities to a potential business deal with China

As the US-China commerce war had a damaging impact on the global economy and GDP. Liu He the Chinese Vice Premier, who has been managing the talks with the US, pronounced during the Summit that China was ready to solve the trade conflict by “calm” discussions and resisted any increase in trade tensions.

Trump welcomed positive gesticulation. He remarked that he believed China was genuine about needing to move a settlement, and he had high respect for the fact.

  • Support Hong Kong’s sovereignty

The G7 leaders authenticated the presence and significance of the Sino-British Joint Declaration of 1984 on Hong Kong and requested for violence to be circumvented.

G7 Members

Source: Flickr

What Next?

Trump is considering to hold the next G7 meeting in one of his resorts, the National Doral luxury golf resort near Miami. Following the routine, the upcoming G7 summit will be hosted by the US in the year 2020. His statement of hosting the summit in his property brought in lots of criticism. Critics say that he is using his presidency to make money.

What has to be noticed in the upcoming days is to which direction US-China trade war will turn to as both the countries agreed on the discussion. Apart from this, the Brazilian government has planned the decline the aid suggested during the summit.

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Ram Mandir Opening For “Darshan” In 2023



Ram Mandir Opening 2023 | News Aur Chai

The Ram Mandir in Ayodhya is expected to allow visitors by December 2023, with the completion of construction only in 2025.

Sources in the Shri Ram Janmabhoomi Teerth Kshetra have revealed that the colossal project of building the Ram Mandir in Ayodhya, Uttar Pradesh, will be opening for devotees towards the end of 2023. In contrast, the project’s entire construction completion is expected towards the end of 2025. The sanctum sanctorum (Garbha Griha), along with the mandir’s first floor, will be ready by December 2023. Devotees will be allowed to visit the long-awaited mandir soon after the construction is completed.

An ANI report said, “The grand Ram Mandir being constructed in Ayodhya will be opened for devotees from December 2023. Sources told ANI that Garbhagriha, all five mandaps and the first floor will be ready by December 2023 and the mandir will be opened for devotees”.

The sanctum sanctorum will be as high as 161 feet and built using Rajasthani marble and stones. Engineers and architects are taking all measures to ensure the longevity of this enormous project. The second stage of construction is expected to begin in December this year. Currently, the structure is at a standstill as a result of monsoons. Another reason for the delay is the coronavirus pandemic that depleted the force with which the mandir’s construction was expected to go on.

The announcement of the mandir being opened to visitors in 2023 has brought up questions about the political agenda. It is believed that the Bharatiya Janata Party (BJP) aims to use the mandir to catapult themselves into a position of advantage during the 2024 Lok Sabha elections. Opening the mandir to devotees in December 2023 will give the BJP an easy 6-month gap to the general elections in 2024.

The opening of the long-awaited Ram Mandir in Ayodhya could be the factor that diverts the public, at least the Hindu’s in favour of BJP. Thus, securing them a vote bank based on religious sentiments upheld by the party in their previous tenure as the ruling party.

The Ram Janmabhoomi Mandir will be 360 feet long, 235 feet wide, and 20 feet high mandir will be completely ready by the end of 2025. The project will include amenities and structures like museums, archives, research centre, Sant Niwas, gau and Yagya shala, Etc. The main attraction is the Ram Mandir.

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How SEBI’s New Margin Rule Is Affecting Retail Traders?



SEBI Margin Rule | News Aur Chai

Securities and Exchange Board of India has introduced new margin rules for traders. Traders and Brokers are not happy with the new regulations because they will have to invest a large amount of cash in fulfilling margin requirements for trade.

SEBI had introduced the new margin rule in the year 2020 for intraday traders. It is being implemented in a phased manner. Traders were supposed to maintain 25 per cent of the peak margin in the first phase; the margin was raised by 50 per cent in the second phase. In the third phase, as per the new margin rule, intraday traders will have to pay a 100 per cent upfront margin. According to new norms, the margin requirements will be calculated four times during every trading session because the money margin must be greater than the need.

As per the new rule, brokers must collect margin from investors for any purchase or sale, and if they fail to do so, they will have to pay the penalty. Thus, brokers will not receive power of attorney. Brokers cannot use power of attorney for pledging anymore.

Those investors who want to make use of margin will have to create margin pledges separately. As per the new rule, investors will have to pay at least a 30 per cent margin upfront to avail a margin loan. Shares brought today cannot be sold tomorrow. Funds from shares sold today cannot be used for new trades on the same day.

The market experts said that there must be proper adjustments for implementing new rules, or it may create chaos, trouble and disturbance to the market participants. The CEO and founder of Zerodha broking firm, Nithin Kamath tweeted that, “the day when the new rules came into effect was the dreaded day for brokers, exchanges, intraday traders”.

Traders Are Not Happy:

Changes in rules have evoked strong reactions from traders because they will have to invest a large amount of cash in fulfilling margin requirements for trades as per new margin rules. Even the trading in futures and options will become more expensive. Traders are disappointed because they will have to pay up more money to bet in stock markets. As per new margin rules, Traders are also liable for the penalty if the rules are not followed during the trading session. If a trader wants to buy Nifty worth Rs 10 lakh, he will have to pay a 20 per cent margin of around 2 lakh. If the margin of the trader does not meet the need, he will be penalized. Traders will have to pay the minimum amount for opening the Multilateral Trading facility account, and they have to maintain a minor balance at all times.

Why Gas SEBI Introduced A New Margin Rule?

SEBI has introduced new rules to protect retail investors from purchasing difficulty. The intended goal of SEBI behind new margin rules is to bring down the difficult market situation and avoid huge fluctuation in stock markets during extreme stress. The new margin rules are likely to bring transparency to the market; it is expected to strengthen the market’s safety.

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Escalation Of COVID-19 Cases Across The Globe



COVID Case Spike 2021 | News Aur Chai

The United States, India, and Brazil have the most confirmed cases, followed by France, Russia, the United Kingdom, and Turkey. There are very few locations that have remained undisturbed.

Since the middle of last year, confirmed cases have been increasing. Although the actual scope of the first outbreaks in 2020 is unknown because testing was not generally available at the time. The 100 million COVID-19 cases were discovered at the end of January, over a year after it was first diagnosed. As of 6:30 p.m. CEST on July 30, 2021, WHO has received reports of 196,553,009 confirmed cases of COVID-19, with 4,200,412 fatalities. A total of 3,839,816,037 vaccination doses has been delivered as of July 28, 2021.

After reaching a record high of over 0.9 million cases on April 28, 2021, new daily instances of the coronavirus continued to decline, reaching a low point on June 21, when over 0.3 million cases were reported. Since then yet, there has been a global increase in cases. On July 15, 0.53 million daily cases were reported, and over three million new cases were reported in the second week of the month. As of July 15, 188.9 million patients have been recorded worldwide. The transmissive Delta form accounting for most infections in 111 countries. Most instances were recorded in Brazil, India, Indonesia, the United Kingdom, and Colombia in the last week. With the steepest increases in Zimbabwe (72%), Indonesia (44%), the United States (38%), Bangladesh (35%), and the United Kingdom (30%). Many Asian nations, including Vietnam, Malaysia, South Korea, and Japan, have reported many daily cases. However, the spread was under control.

The number of new cases in Indonesia has been on the rise, with each day seeing a significant increase over the previous day. Indonesia is now the new Asian epicentre, with 56,757 cases recorded on July 15; India reported 39,000 patients on the same day. COVID-19 fatalities are high, according to WHO. After decreasing for nine weeks, with the highest increases in Africa and Southeast Asia. COVID-19 fatalities worldwide surpassed four million on July 7. The last million deaths occurred in under 90 days, the lowest time interval for every one million deaths ever recorded.

High vaccination coverage has been shown in the United States and much of Europe to lower fatalities and even hospitalizations. For example, United Kingdom rises in incidence. There has been fewer hospitalizations and deaths over 87% of the adult population, as they are vaccinated with one dose and over 67% with two doses. In the United States, the increase in cases is concentrated in states with low vaccination coverage, with unvaccinated people accounting for most deaths. Over 55% of Americans have received one dosage, and 48% are completely immunized. It shifts the focus back to improving vaccination coverage and achieving global vaccine equality to avoid fatalities and the spread of dangerous strains. Some nations debate a booster dosage. Even though many African countries’ healthcare professionals have not been completely vaccinated, booster injections have begun to be given to patients with weakened immune systems in Israel.

In comparison, booster shots have been ruled out in the United States for the time being. With vaccine shortages reported in many Indian states. Even among the vaccinated, rigorous adherence to COVID-appropriate behaviour is the only option to postpone and mitigate the consequences of a third wave.

This spring, India and Latin America have seen a significant drop in new cases in the hardest-hit areas of the world. But the global numbers continue to grow. The Delta variety leads them to well-vaccinated regions such as Western Europe and the United States, low but rising infections. This spring, India and Latin America have seen a significant drop in new cases in the hardest-hit areas of the world. Vaccine doses have been given to over 4 billion individuals globally (52 for every 100 people), yet the discrepancy is striking. More than 80% of the population had at least one shot in some wealthy nations. In contrast, the proportion is as low as 1% in many of the poorest.

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