Saudi Arabia Current Affairs - 2019

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PM Narendra Modi Honoured with Order of St Andrew the Apostle

Russia has awarded PM Narendra Modi with ‘Order of St Andrew the Apostle’ to PM Narendra Modi for promoting the bilateral special and privileged strategic partnership.

The statement by the Russian Government has stated that Prime Minister of India Narendra Modi was decorated with the Order of St Andrew the Apostle – the highest state decoration of Russia – for exceptional services in promoting special and privileged strategic partnership between the Russian Federation and the Republic of India and friendly relations between the Russian and Indian peoples.

Order of St Andrew the Apostle

Order of St Andrew the Apostle is awarded to prominent statesmen and public figures and representatives of science, culture, the arts and various industries for their exceptional services in promoting the prosperity, greatness and glory of Russia. It is both the highest and the oldest state decoration of Russia established in the 17th century by Peter the Great around 1699.

Russia also bestows Order of St Andrew the Apostle to foreign heads of state for outstanding services to Russia. The list of the foreign awardees includes President of China Xi Jinping, the former President of the Republic of Kazakhstan Nursultan Nazarbayev, the former President of the Republic of Azerbaijan Geydar Aliev.

PM Modi was previously been awarded the United Arab Emirates’s top honour as well as from countries including South Korea, Saudi Arabia, Palestine and Afghanistan.

Month: Categories: Awards & HonoursUPSC

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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 by more than 14% in India.
  • A flooding disaster in Kerala has likely boosted the financial help that migrants sent to families.
  • India received $ 62.7 billion remittances in 2016 and it was $65.3 billion in 2017.
  • India was followed by China ($67 billion), Mexico ($36 billion), the Philippines ($34 billion) and Egypt ($29 billion),
  • Remittances to low-and-middle-income countries rose 9.6% from 2017 and touched a record high of $529 billion in 2018.
  • Global remittances reached $689 billion in 2018, up from $633 billion in 2017.
  • Remittances to South Asia grew 12% to $131 billion in 2018.
  • The upsurge in remittances was driven by stronger economic conditions in the United States.
  • The pick-up in oil prices had a positive impact on outward remittances from some GCC [Gulf Cooperation Council] countries.
  • Excluding China, remittances to low and middle-income countries ($462 billion) were significantly larger than foreign direct investment flows in 2018 ($344 billion).

Gulf Cooperation Council

Gulf Cooperation Council is s a regional intergovernmental political and economic union consisting of all Arab states of the Persian Gulf except Iraq. Its member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

Month: Categories: Business, Economy & BankingUPSC

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