After India, now Latin American country Venezuela adopts Demonetization
- Venezuela which is been facing world highest inflation (approximately 500%) has demonetized its biggest denomination, 100 Bolivar notes (= 678 Indian Rupees).
- This move would wipe 48% of the total currency in circulation.
India Indonesia have resolved to fight terror collectively
- Indonesia is world’s most populous muslim nation and one of the few fast growing economies when world over growth rates are declining.
- Indonesian President Joko Widodo also has a rags to riches story, like India PM Narendra Modi. Widodo was born in a slum, elected as Jakarta Mayor and later elected as Indonesian President. Both countries have similar problems and therefore are committed to address concerns mutually.
- On China, both India and Indonesia have a common stand, i.e. both want that the disputes should be resolved through peaceful means.
China warns US of impaired ties if one china policy is compromised
After USA normalizing relations with Cuba, European Union (EU) follows the suit
- Both EU and Cuba has signed deal to normalize their relations.
- The deal covers areas such as trade and human rights. The deal with USA earlier and now with EU, would end Cuba’s isolation.
Russia – West mistrust deepen on Syria
- Both the parties have had mistrust on each other’s intentions regarding their motivations in fighting ISIS and now France is accusing Russia of lying over it’s role in Syria.
- As per France, Russia is actually backing President Assad of Syria in the name of fighting ISIS. Where Russia believes that French forces are more interested in toppling Assad regime.
- In between all this, anti terror effort is the ultimate victim.
UK government is to cut Student Visas by half from 3 lakh at present to 1.7 lakh
- It is planning to cut immigration into UK and says that since similar courses are available in India, why Indians want to come to UK.
- However Indian students provide 14 billion pounds annually to UK’s economy.
- UK actually does not know that foreign study in India is more about a status than substance and despite better colleges and courses available in India, UK still is a hot destination!