26 June 2023 : Daily Current Affairs
DAILY CURRENT AFFAIRS
26-June-2023
Daily Current Affairs For UPSC ,Daily Current affairs of The hIndu and Indian Express.
1. Modi, Sisi ink deal on strategic partnership.
Topic: GS2 – International relations.
Context:
- India and Egypt signed a strategic partnership agreement during Prime Minister Narendra Modi’s visit to Egypt.
- Prime Minister Modi was honored with the Order of the Nile, the highest honor of Egypt.
- Four agreements were signed during the visit, with the strategic partnership being the most significant.
More about Prime Minister’s visit to Egypt:
Prime Minister Narendra Modi visited Egypt on June 19-20, 2023, at the invitation of Egyptian President Abdel Fattah el-Sisi.
- During the visit, the two leaders held talks on a wide range of issues, including the situation in the Middle East, the fight against terrorism, and the global economic outlook.
- They also signed a number of agreements, including a memorandum of understanding on cooperation in the field of civil aviation and a framework agreement on cooperation in the field of renewable energy.
- In a joint statement issued after the talks, the two leaders said that they had agreed to “further deepen and expand” their bilateral cooperation in all areas. They also expressed their commitment to working together to promote peace and stability in the region.
Here are some of the key takeaways from the visit:
- The two countries agreed to strengthen their trade and investment ties. They announced a target of $10 billion in bilateral trade by 2025.
- They also agreed to cooperate in the field of energy. India is looking to import more oil and gas from Egypt, and Egypt is interested in investing in India’s renewable energy sector.
- The two countries also agreed to cooperate in the field of security. They discussed ways to combat terrorism and extremism.
- They also agreed to work together on regional issues, such as the situation in the Middle East.
The visit was seen as a success by both sides. It was the first visit by an Indian prime minister to Egypt in 10 years. The two countries have a long history of ties, and the visit is seen as an opportunity to strengthen those ties and deepen cooperation in a number of areas.
Source: The Hindu, 26 June 2023, page – 1
2. The India-U.S. deal for 31 MQ-9B drones
Topic: GS2 – Defence and security
Context:
- The procurement process for 31 MQ-9B drones started with the Defence Acquisition Council (DAC) accepting the necessity (AoN) on June 15.
- The deal will be executed through the Foreign Military Sales (FMS) route of the U.S. government.
- The MQ-9B systems include 16 Sky Guardian and 15 Sea Guardian variants, along with associated equipment.
More about MQ-9B drones:
- The MQ-9B is a long-endurance, high-altitude, remotely piloted aircraft (RPA) developed by General Atomics Aeronautical Systems (GA-ASI).
- It is a variant of the MQ-9 Reaper, which has been in service with the U.S. Air Force since 2007.
- The MQ-9B is designed for intelligence, surveillance, and reconnaissance (ISR) missions, as well as armed strike missions. It can carry a variety of weapons.
- The MQ-9B has a maximum altitude of 50,000 feet and a range of 1,850 miles. It can stay in the air for up to 40 hours, which makes it ideal for long-endurance missions.
- The MQ-9B is equipped with a variety of sensors. These sensors allow the MQ-9B to gather a wide range of intelligence data, including imagery, radar data, and electronic signals.
- The MQ-9B is also equipped with a laser designation system, which allows it to guide weapons onto targets. This makes the MQ-9B a highly effective weapon system for both ISR and strike missions.
Source: The Hindu, 26 June 2023, page – 10
3. Vikram, Pragyan to return for another tryst with the moon.
Topic: GS3 – Science and technology.
Context:
- India’s third moon exploration mission, Chandrayaan-3, is scheduled for a mid-July launch.
More about the news:
- The names of the lander and rover from the previous mission, Chandrayaan-2, will be retained for Chandrayaan-3.
- The lander will be named Vikram, after Vikram Sarabhai, the father of the Indian space programme.
- The rover will be named Pragyan.
- Chandrayaan-3 will be launched aboard the LVM3 (formerly GSLV Mk-III) rocket from Sriharikota.
- The lander-rover configuration will be carried to a 100-km lunar orbit by a propulsion module.
- The lander will deploy the rover, which will conduct in-situ chemical analysis of the lunar surface.
- The mission will have several payloads for scientific experiments, including Radio Anatomy of Moon Bound Hypersensitive Ionosphere and Atmosphere (RAMBHA), Chandra’s Surface Thermo physical Experiment (ChaSTE), Instrument for Lunar Seismic Activity (ILSA), LASER Retroreflector Array (LRA), Alpha Particle X-ray Spectrometer (APXS), LASER Induced Breakdown Spectroscope (LIBS), and Spectro-polarimetry of HAbitable Planet Earth (SHAPE).
Source: The Hindu, 26 June 2023, page – 14
4. Understanding interest rate risk
Topic: GS3 – Economy
Fluctuation of interest rate with market conditions:
- Interest rate risk applies to investments that provide returns in the form of interest, such as fixed deposits, bonds, and debentures.
- Debt instruments involve lending money and receiving interest in return, with the principal amount returned upon maturity.
- Interest rate risk arises when interest rates in the market change during the tenure of the investment.
- If interest rates increase, the value of existing bonds or debentures decreases, leading to potential losses if sold before maturity.
- Conversely, if interest rates decrease, the value of existing bonds or debentures increases, potentially resulting in profits upon sale.
- Investors can choose to hold the investment until maturity to avoid the impact of interest rate movements.
- Debt mutual funds also face interest rate risk, as changes in interest rates affect the value of the bonds or debentures held by the fund, leading to fluctuations in the Net Asset Value (NAV) of the fund.
Source: The Hindu, 26 June 2023, page – 16
5. Radio telescopes: probing space
Topic: GS3 – Science and technology.
More information about radio telescopes:
- Radio telescopes detect and study celestial objects using radio waves.
- They collect faint radio waves from stars, galaxies, and black holes.
- Radio telescopes are usually ground-based and have large dish antennas.
- The size of the antenna is proportional to the wavelength being tracked.
- Parabolic dish antennas are commonly used in radio telescopes.
- The curved shape of the dish focuses the radio waves to a point where they are collected by a receiver.
- Radio telescopes can detect a wide range of wavelengths simultaneously.
- Radio waves have long wavelengths, allowing them to travel long distances without interruption.
- Telescopes maximize signal collection area and use amplifiers to increase the strength of the weak radio waves.
- The Five-hundred-meter Aperture Spherical Telescope (FAST) in China is one of the world’s largest radio telescopes, with a 500-meter-wide dish.
Source: The Hindu, 26 June 2023, page – 20
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