Venezuela Current Affairs - 2019
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The Economist Intelligence Unit has released the report of the Worldwide Cost of Living Survey 2019.
Findings of the Survey
- For the first time in its 30-year history, three cities have been accorded the title of the world’s most expensive city in the Worldwide Cost of Living Survey from The Economist Intelligence Unit.
- Singapore which top’s of the rankings for the sixth consecutive year is joined there by Hong Kong and Paris.
- Zurich in Switzerland stood at the fourth position followed by Japan’s Osaka which shared fifth place with Geneva, also in Switzerland.
- Seoul (South Korea), Copenhagen (Denmark) and New York (US) were jointly placed at the seventh spot.
- Los Angeles (US) along with Israel’s Tel Aviv was named the 10th most expensive city in the world.
- The cost of living in Chinese cities remains relatively stable, while Southeast Asian destinations were moving up the ranks.
- Weaker local currencies have pushed all five Australian and two New Zealand cities surveyed down in the ranking.
- While parts of Asia remain the most expensive places on Earth, Asian Cities also makes several appearances at the bottom of the list.
- World’s cheapest cities include Caracas (Venezuela), Damascus (Syria), Tashkent (Uzbekistan), Almaty (Kazakhstan), Karachi (Pakistan), Lagos (Nigeria), Buenos Aires (Argentina) as well as the three Indian cities of Bengaluru, Chennai and Delhi.
The Survey compares more than 400 individual prices across 160 products and services in cities around the world by keeping New York as the benchmark city.
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The Stockholm International Peace Research Institute (SIPRI) has released the Trends in International Arms Transfers 2018 Report. The Key observations made in the report include:
- Russia’s arms export to India decreased by a whopping 42 per cent between 2014-18 and 2009-2013.
- Russia accounted for 58 per cent of total Indian arms imports in 2014-2018, compared with 76 per cent in 2009-2013.
- India’s import of arms decreased by 24 per cent between 2009-2013 and 2014-2018 which was in line with India’s strategic programme Make in India- Defence to reduce India’s dependence on foreign arms.
- The decrease in imports was also attributed to delays in deliveries of arms produced under license from foreign suppliers, such as combat aircraft ordered from Russia in 2001 and submarines ordered from France in 2008.
- The decrease in India’s arms import is significant given since the volume of international transfers of major arms in 2014-18 was 7.8 per cent higher than in 2009-13 and 23 per cent higher than in 2004-2008.
- India was the world’s second largest importer of major arms in 2014-18 and accounted for 9.5 per cent of the global total.
- Israel, the USA and France have increased their arms exports to India in 2014-18.
- Five largest Arm exporters in 2014-18 were the United States, Russia, France, Germany and China.
- Five largest Arm importers were Saudi Arabia, India, Egypt, Australia and Algeria.
- The US was the top arms exporter in 2014-18 and 2009-13. The US’s exports of major arms grew by 29 per cent between the two periods and its share of total global exports rose from 30 per cent to 36 per cent.
- The gap between the USA and Russia which is the second largest exporter has continued to widen. The US exports of major arms in 2009-13 were 12 per cent higher than those of Russia, whereas in 2014-18 they were 75 per cent higher. Russian exports of major arms decreased by 17 per cent between the same periods.
- The decrease in the Russian exports was partly attributed to general reductions in Indian and Venezuelan arms imports, two countries that have been among the main recipients of Russian arms exports in previous years.
- India remained the chief importer of Russian arms in 2014-18. But Russian arms exports to India fell by 42 per cent between 2014-18 and 2009-13. Arms exports to Venezuela, which was the fifth largest recipient of Russian arms in 2009-13, decreased by 96 per cent between 2014-18 and 2009-13.
- The arms imports of Pakistan was decreased by 39 per cent between 2009-13 and 2014-18. The US has become increasingly reluctant to provide military aid or sell arms to Pakistan.
- US arms exports to Pakistan fell by 81 per cent between 2009-13 and 2014-18. Pakistan has instead turned to other suppliers.
Stockholm International Peace Research Institute
Stockholm International Peace Research Institute (SIPRI) established in 1966 is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament. Based in Stockholm the Institute provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
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