ASIA-PACIFIC ECONOMIC COOPERATION (APEC)

US President Joe Biden and China’s President Xi Jinping will have their first in-person meeting on the sidelines of the APEC summit.

The Asia-Pacific Economic Co-operation (APEC) is a regional economic forum.
It was formed in 1989.
It has 21 members in its groups.
It includes Australia, Brunei, Hong Kong, New Zealand, Papua New Guinea, the Philippines, Indonesia, China, Japan, South Korea, Russia, Canada, the United States, Mexico, Peru, Chile, Malaysia, Vietnam, Singapore, Thailand and Chinese Taipei (Taiwan).
However, India is not a member.
Their aim was to “leverage the growing interdependence of the Asia-Pacific and create greater prosperity for the people of the region through regional economic integration”.
The focus of APEC has been on trade and economic issues.
Hence, it terms the countries as “economies”.
APEC make up roughly 60 percent of global GDP.
As of 2018, they represented 48 per cent of global trade.
Aim of the APEC summit – 2023:
“Creating a Resilient and Sustainable Future for All.”

NISAR

ISRO puts Nisar satellite to test in space-like environment.

NISAR is a low-earth orbit (LEO) observatory jointly developed by NASA and ISRO.
It will be launched by ISRO’s GSLV Mark II.
It is a low-earth orbit (LEO) observatory jointly developed by NASA and ISRO.
Following a 90-day satellite commissioning period, the mission will survey out planet every 12 days. During its three-year duration, NISAR will provide spatially and temporally consistent data for understanding changes in the ecosystems, ice mass, vegetation biomass, sea level rise, ground water and natural hazards including earthquakes, tsunamis, volcanoes and landslides.
ISRO will supply the S-Band SAR payload.
NASA will provide the L-Band SAR payload system. Both these SAR (Synthetic Aperture Radar) systems will make use of a 12m wide deployable mesh reflector.
ISRO will be responsible for SSAR data handling system, High rate downlink system, spacecraft bus systems, the GSLV launch system and Mission Operations Related Services.
NASA will also provide engineering payloads for the mission, including a Payload Data Subsystem, High-rate Science Downlink System, GPS receivers and a Solid State Recorder.

IGBC’s Green Building Congress 2023 is the only event in India that is supported by The World Green Building Council (World GBC), and 20 different countries’ Green Building Councils across the world.
It is set up by the Confederation of Indian Industry (CII).
It introduced its pioneering initiative called IGBC Nest for the individual housing sector in Tamil Nadu.
It was done as a move to fast-track India’s journey towards its 2070 net zero goal.
The IGBC’s Green Building Congress 2023 is backed by The World Green Building Council (World GBC), and 20 different countries’ Green Building Councils across the world. Theme of the meeting: Advancing Net Zero through Decarbonization.
IGBC’s Nest Framework and Certification has been developed specifically for the individual homeowners to help them reduce energy cost by 20-30% and reduce water requirements by 30-50%.”

Chief Minister of Tamil Nadu unveiled the statue of the late Cruz Fernandez on his 154th birth anniversary.

Cruz Fernandez, was born in 1869.
He served as the Chairman for the Thoothukudi Municipality for five terms during 1909, 1910, 1912, 1919 and 1925.
He is especially remembered for his efforts to bring potable water to the town from Thamirabarani River.
At that time, potable water was accessible only to the British people and the wealthy.
Fernandez had proposed the then Tirunelveli collector to operate a joint water scheme from Vallanadu to supply water to Thoothukudi, Palayamkottai and Tirunelveli municipalities.
He launched the Saturday market to facilitate a commercial centre for the traders of all castes.
He formed a syndicate group among the cotton traders to fund poor students’ education.
He also formed a cooperative bank to help the poor people to build houses.
The British government had honoured him with the title “Rao Bahadur” appreciating his public service.

FATF team in India is set to hold on-site review meetings.

Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog.
It was set up in 1989 out of a G-7 meeting of developed nations in Paris.

Initially, its objective was to examine and develop measures to combat money laundering.
After the 9/11 attacks on the US, the FATF in 2001 expanded its mandate to incorporate efforts to combat terrorist financing.
In April 2012, it added efforts to counter the financing of proliferation of Weapons of Mass Destruction (WMD).
Members of FATF:
It is a 39-member body representing most major financial centres in all parts of the globe.
Out of 39 members, there are two regional organisations: the European Commission, and the Gulf Cooperation Council.
India and FATF: India joined with ‘observer’ status in 2006 and became a full member of FATF in 2010.