Timeframe: October 8th – October 14th, 2021
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Maisha Maliha, Mansib Khan, Musarrat Sarwar Chowdhury, Sabyasachi Karmaker, Samia Tahsin Hoque, and Farhan Uddin Ahmed.
1. Economics & Business
Tata Group wins control of Air India with $2.4bn bid
Following a deal to pay US$ 2.4 billion, the Tata Group will take over India’s flag carrier Air India. Since 2009, the airline has been losing a billion dollars each year, and under the terms of the agreement, Tata will only pay a fraction of the company’s total debt. Attempts to privatize the airline in the past have failed due to the debt burden and the government’s insistence on preserving a stake in the company. However, the government eventually gave up and approved the terms of the sale in order to offload the losing company and the increasing debt. Tata topped Spicejet CEO Ajay Singh, who offered US$ 2 billion, in the bidding. With the winning bid, Air India returns to its founders, who founded the airline in 1932 as Tata Air, transporting mail and passengers from Karachi to Mumbai.
Source: The Guardian
Energy prices: EU unveils plan to ease Europe’s gas crisis
The European Commission has announced a package of measures to alleviate an energy price surge that has sent bills skyrocketing across Europe.
The approval of tax cuts and the joint purchase of fuel by the EU members were among the proposals put forward.
Energy prices have hit record highs for various reasons, including high demand for natural gas as economies recover from the Covid-19 pandemic.
The European Commission has been under pressure to act on the price crunch.
Win for Somalia: ICJ rules against Kenya in its maritime border dispute
The International Court of Justice has largely ruled in favor of Somalia regarding the 100,000 square kilometers of the continental shelf between the borders of Kenya and Somalia. While Somalia celebrates the win – a reflection of fishing rights for its citizens and a potential gas & oil source – Kenya has threatened not to recognize the UN-backed court as its President Uhuru Kenyatta considers the issue a flashpoint to the upcoming crisis.
3. Significant Corona Update
Last Chance: WHO proposes fresh team to investigate COVID-19 origins
The World Health Organization has tabled a new effort to investigate the origins of COIVID-19 after China successfully pushed back on the previous attempt. In addition, a US government-backed study has revealed that a mixture of covid vaccines produces as many antibodies as a booster shot. Both Moderna and Pfizer plan to roll out COVID pills after clinical trials are completed. Finally, Ivermectin, the livestock dewormer, remains unproven but lucrative for generic drugmakers.
4. Science & Technology
Vanmoof launches fastest ever e-bike
On Tuesday, e-bike producer VanMoof announced the VanMoof V, the company’s first high-speed electric bike capable of hitting a top speed of 60km/h (37mph). That’s much faster than VanMoof’s current e-bikes, which are capped at 25km/h in Europe and 20mph in the US, and well beyond what local laws currently allow.
Vanmoof is launching the V as a challenge to lawmakers and city planners to rethink outmoded regulations and start putting the needs of people ahead of cars.
Source: The Verge
5. RMG/ Agriculture
Monoculture farming is another way modern-day agriculture is killing bees, scientists say
Scientists have discovered another way modern-day farming techniques are killing off bee populations.
While pesticides have long been blamed for the decline in pollinators, a study published in Proceedings of the Royal Society B on Tuesday has found that the mass-flowering of single plant species is increasing the prevalence of bee populations infected with parasites.
Source: ABC News
La Palma volcano: Lava engulfs cement factory forcing new lockdowns
On October 11, lava from Spain’s Cumbre Vieja volcano started a fire at a cement factory, forcing at least 2,500 residents to go into lockdown to safeguard their health, according to a local official. The major threat, according to the official, Miguel Angel Morcuende, came from the gas and smoke spewing from a wildfire in an industrial park in the lava’s path. The lockdown directly impacted 2,500 to 3,000 people living near the fire. On September 19, the volcano on La Palma began erupting, and it hasn’t stopped yet.
8. Expert Opinion
“Money alone can’t keep football alive”- Jason Stockwood
The takeover of Newcastle United’s ownership by Saudi Arabia’s sovereign wealth fund will obviously bring vast amounts of money and investment to the northeast. And undoubtedly, the team will be full of even bigger names over the coming years. But if capitalism is to sustain football for the next 100 years, it will need to put the interests of fans and the local community above those of shareholders.
Source: The Guardian
Disclaimer: The information provided here is obtained solely from the third parties mentioned above. Youth Policy Forum (YPF) is not responsible for any misinformation or misrepresentation.