Current Affairs Summary

I. International Relations and Geopolitics

• UN Security Council Resolution: Veto utilized by Permanent Member A regarding proposed humanitarian corridor access in Region X. The vote breakdown was 13-1-1.
• G20 Summit Outcomes: Member nations finalized consensus on the framework for global digital taxation, aiming for implementation by late Q4 2024.
• Bilateral Trade Agreement (Nation Y and Nation Z): An agreement was signed focusing on critical mineral supply chains. Nation Y committed to increasing lithium exports by 15% annually over the next five years.
• Geopolitical Conflict Update (Region B): The regional monitoring group reported a 20% increase in ceasefire violations over the last 30 days, primarily concentrated along the northern border zone.

II. National Economy and Finance

• Key Macroeconomic Indicators (Q3):
  • GDP Growth: Adjusted to 6.8% (previously projected 7.1%), attributed primarily to slower industrial output.
  • Retail Inflation (CPI): Stabilized at 5.4%, remaining within the central bank’s tolerance band of 4% (+/- 2%).
• Monetary Policy Review: The Central Bank held the benchmark interest rate steady at 6.5%. The decision was unanimous, citing the need to observe transmission effects of past rate hikes.
• Fiscal Policy Initiative (Scheme A): A new capital expenditure scheme allocated $5 billion towards developing green hydrogen infrastructure, operational starting Q2 next year.
• Foreign Direct Investment (FDI): Inflows during the last fiscal quarter decreased by 7% compared to the previous period, with the majority concentrated in the services sector (45%).

III. Science, Technology, and Space

• Space Mission (Mission Name): The national space agency successfully placed the new earth observation satellite (EOS-10) into a polar sun-synchronous orbit at 600 km altitude.
• Quantum Computing Progress: Researchers at National Lab P achieved stable entanglement for 50 qubits in a silicon-based architecture, marking a breakthrough in error correction protocols.
• AI Regulation: The national task force submitted preliminary recommendations calling for tiered regulation of Large Language Models (LLMs), classifying them based on risk level (minimal, medium, high).

IV. Environment and Climate Action

Area	Policy/Target Detail	Timeline/Status
Renewable Energy	Target set to achieve 500 GW non-fossil fuel electricity capacity.	By 2030
Carbon Pricing	Introduction of an Emission Trading System (ETS) for heavy industry sectors (Steel, Cement).	Pilot phase launching next year.
COP Meeting Outcome (COP 29)	Establishment of the 'Loss and Damage Fund' was ratified, with initial pledges totaling $700 million from developed nations.	Operational immediately.
Biodiversity Protection	Designation of three new Marine Protected Areas (MPAs) covering 15,000 square kilometers.	Effective immediately.