News in Shorts 20 July 2026: WAICO, PM-NAPS, F&O & More

World AI Cooperation Organisation (WAICO)

Context: China launched the World AI Cooperation Organisation (WAICO) at the World Artificial Intelligence Conference 2026 in Shanghai to promote a Global South-centric AI governance framework. 

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About World AI Cooperation Organisation (WAICO)

• WAICO is a China-led intergovernmental organisation established to promote international cooperation in Artificial Intelligence (AI), particularly among developing countries, and to build an alternative framework for global AI governance.
• Establishment: Officially established on 16 July 2026 in Shanghai, China, during the World Artificial Intelligence Conference (WAIC).
  • The WAIC 2026 was held  in Shanghai, China, under the central theme “Intelligent Partners, Co-Creating the Future”.
• Headquarters: Shanghai, China
• Key Partners
  • Founding Members: total 29 including China, Russia, Brazil, South Africa, Indonesia, Malaysia, Pakistan, Kazakhstan and other Global South countries
    • India has not signed the agreement
  • International Engagement: Supported by the United Nations as an observer and collaborates with regional groupings such as BRICS, ASEAN, the African Union (AU), and the Shanghai Cooperation Organisation (SCO).
• Objectives
  • Promote Inclusive AI Development: Bridge the global AI divide by improving AI access, capacity and innovation in developing countries.
  • Strengthen Global AI Governance: Develop a multilateral AI governance framework based on cooperation, digital sovereignty and responsible AI use.
  • Enhance AI Innovation: Facilitate technology sharing, research collaboration and open-source AI development among member countries.
• Key Initiatives
  • AI Capacity Building: China will provide 5,000 AI training opportunities and establish AI cooperation centres across partner countries.
  • Open-Source AI Ecosystem: Encourages sharing of open-source AI models, technology transfer and collaborative AI research.
  • Global South Cooperation: Expands AI partnerships with BRICS, ASEAN, AU, Latin American countries and the SCO to strengthen digital capabilities.
  • Alternative AI Governance Framework: Promotes multilateral AI standards while opposing unilateral technology restrictions and advocating digital sovereignty.

Colobus Congoensis

Context: Scientists have identified Colobus congoensis, a new monkey species from the Democratic Republic of Congo, highlighting the Congo Basin’s rich yet threatened biodiversity.

About Colobus congoensis

• Colobus congoensis (locally known as Likweli) is a newly identified Old World monkey endemic to the Democratic Republic of Congo (DRC).
  • It is the fifth African monkey species discovered in the last 75 years.
• Discovery: The species was first photographed in 2008 and officially described in 2026 after extensive genetic, morphological and acoustic studies.
• Distribution and Habitat: It is confined to a small range of about 1,700 sq. km between the Lomami and Congo Rivers in the Congo Basin.
  • It inhabits closed-canopy upland tropical forests with deep clay soils, making it highly vulnerable to habitat fragmentation.
  • Most of its known habitat lies within Lomami National Park.
• Key Features
  • The monkey has a glossy black coat, distinctive orange-cream facial markings, large folded ears, a long tail, and a white anal patch.
  • Like other colobus monkeys, it lacks a functional thumb, an adaptation that aids efficient movement through forest canopies.
  • It is herbivorous, feeding mainly on leaves and shoots using a specialised foregut fermentation digestive system similar to that of ruminants like Cow.
  • Genetic studies indicate that its closest living relative is the Black Colobus (Colobus satanas), from which it diverged around 4–5 million years ago.
• Conservation Status: It has not yet been formally evaluated or added to the official IUCN Red List.
  • Researchers have recommended listing the species as Endangered on the IUCN Red List because of its restricted distribution, small population, habitat loss and hunting pressure.

New and Old World Monkeys

• Old World Monkeys inhabit Africa and Asia, feature downward-facing nostrils, and lack prehensile tails.
  • Examples include Baboons, Mandrills, and Macaques.
• New World Monkeys live in Central and South America, possess wide-spaced, sideways-facing nostrils, and often have prehensile tails for gripping branches.
  • Examples include Howler Monkeys, Spider Monkeys, and Capuchins.

Prime Minister’s National Apprenticeship Promotion Scheme (PM-NAPS)

Context: The Ministry of Skill Development and Entrepreneurship extended the PM-NAPS special intervention for the North-Eastern Region (NER) for FY 2026–27 with enhanced targets and funding.

About the Prime Minister’s National Apprenticeship Promotion Scheme (PM-NAPS)

• PM-NAPS is a flagship apprenticeship promotion scheme launched in 2016 and implemented under the Apprentices Act, 1961.
• It promotes structured, paid on-the-job training by integrating classroom learning with workplace experience to improve youth employability under the Skill India Mission.
• Key Objectives
  • Develop a highly skilled workforce through industry-oriented apprenticeship training.
  • Encourage employers to engage apprentices by providing financial incentives and stipend support.
  • Bridge the gap between formal education and industry skill requirements while improving employment opportunities.
• Funding: The Government provides partial stipend reimbursement and financial incentives to employers through Direct Benefit Transfer (DBT).
  • For the North-Eastern Region (FY 2026–27), a financial outlay of ₹57.58 crore has been allocated under the NER component of PM-NAPS.
• Nodal Ministry
  • The scheme is implemented by the Ministry of Skill Development and Entrepreneurship (MSDE).
  • The Indian Institute of Entrepreneurship (IIE), Guwahati, is the implementing agency for the special intervention in the North-Eastern Region.
• Key Targets
  • The FY 2026–27 intervention aims to support 30,000 apprentices, including 15,000 placements within the North-East and 15,000 opportunities outside the region, including Government departments and Public Sector Undertakings (PSUs).
  • Apprentices engaged within their home States in the North-East are also eligible for the additional incentive of ₹1,500 per month.
• PM-NAPS strengthens the apprenticeship ecosystem through industry partnerships, awareness programmes and institutional collaboration, promoting inclusive growth, regional development and a skilled workforce aligned with India’s economic needs.

Futures & Options (F&O)

Context: India’s rapidly expanding Futures & Options (F&O) market has renewed concerns over rising retail investor losses, prompting calls for stronger regulatory safeguards.

• A July 2025 SEBI study revealed that over 90% of individual traders incurred heavy losses over the four-year period from FY22.

About Futures & Options (F&O)

• Futures and Options (F&O) are derivative contracts whose value is derived from an underlying asset such as equities, indices, commodities or currencies. They are primarily used for hedging, speculation and price discovery.
• Types of F&O
  • Futures Contract: A legally binding agreement to buy or sell an underlying asset at a predetermined price on a specified future date.
  • Options Contract: Gives the buyer the right, but not the obligation, to buy (Call Option) or sell (Put Option) an underlying asset at a predetermined price before or on expiry.
• Key Features
  • Enables risk management through hedging against adverse price movements.
  • Provides leverage, allowing investors to take larger market positions with relatively lower capital.
  • Facilitates efficient price discovery and enhances market liquidity.
  • Trades are standardised and settled through recognised stock exchanges.
• Regulation: The Securities and Exchange Board of India (SEBI) regulates India’s derivatives market.
  • Trading takes place on recognised exchanges such as the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) under SEBI’s regulatory framework.

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PV Sindhu Wins Japan Open Super 750 Title

Context: PV Sindhu won the Japan Open Super 750 title by defeating Japan’s Akane Yamaguchi 21-17, 21-17 in the final, securing her first BWF (Badminton World Federation) Super 750 title since 2018. 

Key Highlights

• Historic Achievement: She became the first Indian shuttler to win a major badminton title in Japan.
• Third Elite BWF World Tour Title: This is Sindhu’s third Super 750/1000-level title, after:
  • China Open (2016), BWF World Tour Finals (2018), Japan Open Super 750 (2026)

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