Philippines Current Affairs - 2020

Homo Luzonensis

Researchers in the Philippines have discovered a species of ancient human Homo Luzonensis which was previously unknown to science. Homo Luzonensis Homo Luzonensis lived on the island of Luzon at least 50,000 to 67,000 years ago. The hominin was identified from a total of seven teeth and six small bones and teeth from two adults and Read More…

World Bank’s Migration and Development Brief

As per the report of the World Bank’s Migration and Development Brief, India has retained its position as the world’s top recipient of remittances (money sent back home by its nationals working abroad) in 2018. World Bank Report on Remittances Indian diaspora has sent $79 billion (approximately Rs 5.5 lakh crore) home. The Remittances grew Read More…

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China hikes defence budget by 7.5%

China has increased its defence budget by 7.5 per to $177.61 billion up from last year’s $165 billion. The 2019 Defence Budget of China stood at 1.19 trillion yuan (about $177.61 billion) which is three times the Indian Defence Budget. China’s Defence Budget China’s Defence Budget growth rate stood at 7.6 per cent in 2016, Read More…

Govt and ADB sign loan agreement for Mumbai Metro Rail Project

The Government and the Asian Development Bank (ADB) have signed a loan agreement of $926 Million to operationalise two lines for the Mumbai Metro Rail System. This is the single largest Infrastructure Project Loan in ADB history approved by the Asian Development Board. About the Project The loan agreement will fund the lines 2A (Dahisar to D.N. Read More…

Pakistan to issue Panda Bonds to raise capital in China

The government of Pakistan has decided to launch Panda Bonds to raise loans from Chinese capital markets. Launching of Panda Bonds is part of Pakistan’s plans to move towards giving the Chinese currency, a status at par with that enjoyed by the US dollar. The interest rates and the size of the bonds would be decided Read More…