International Affairs

Current Affairs

U.S. labeled China a ‘currency manipulator’

  • The United States has official labeled China a “currency manipulator”. The US has accused China of using yuan to gain “unfair competitive advantage” in trade.
  • The US took the action as Beijing has allowed its yuan to fall below the politically sensitive level of “seven” to the U.S. dollar for the first time since 2008.

Saudi Arabia Freezes Trade Ties with Canada 

  • Saudi Arabia has announced that it is freezing all new trade and investment with Canada over its “interference” in its internal affairs.
  • Saudi Arabia Capital:Riyadh, 
  • Currency: Saudi riyal. 
  • Canada Capital: Ottawa,
  •  Currency: Canadian dollar. 

Iran unveils three new precision-guided missiles

  • The new line-up of air-to-air missiles dubbed the “Yasin”, “Balaban” and a new series of the “Ghaem” were developed jointly by the ministry and Sa Iran, also known as Iran Electronics Industries.
  • Defence Minister Brigadier-General Amir Hatami hailed their launch as “another significant achievement of power and dignity for the Islamic Republic of Iran”.
  • President of Iran: Hassan Rouhani
  • Capital of Iran: 
  • Currency of Iran: Rial.

South Korea will remove Japan from preferred trade list

  • South Korea has decided to remove Japan from a list of nations receiving preferential treatment in trade.
  • South Korean Trade Minister Sung Yun-mo said that the government was removing Japan from the country’s 29-country “white list” because it has failed to uphold international principles while managing its export controls on sensitive materials.
  • Preferred trade list is a list of nations receiving preferential treatment in trade.
  • Capital of Japan- Tokyo
  • Currency of Japan- Japanese yen 
  • Prime Minister- Shinzo Abe.
  • Capital of South Korea- Seoul 
  • Currency- South Korean wonU.S. sets $5 billion fine for Facebook
  • U.S.’s Federal Trade Commission have approved a $5 billion penalty to be levied on Facebook for mishandling users’ personal information.
  • Facebook Headquarters- California, US
  • CEO- Mark Zuckerberg
  • US President- Donald Trump 
  • Capital- Washington, D.C
  •  Currency– US Dollar 

FATF Asia-Pacific Group blacklists Pakistan

  • The Asia-Pacific Group of the Financial Action Task Force (FATF), an international anti-money laundering watchdog, has downgraded Pakistan and placed it under the list of blacklisted countries for its failure to meets its standard. It was earlier placed in the ‘grey list’ by FATF.
  • Pakistan failed in 32 of 40 ‘compliance’ parameters for its legal and financial systems, and failed 10 of 11 ‘effectiveness’ parameters for enforcing safeguards against terror-financing and money-laundering.
  • President – Arif Alvi
  • Pakistan Capital – Islamabad, 
  • PM- Imran Khan