Frank Duckworth Dies
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- Recently, Frank Duckwort passed away.
Key Details
- He along with Tony Lewis invented the Duckworth-Lewis method, used to fairly determine results and set targets in rain-truncated matches.
- After their retirements, Professor Steven Stern became the custodian of the method.
- In 2014: It was renamed the Duckworth–Lewis–Stern method (or DLS method)
- History: It was first used in international cricket in 1997 and was formally adopted by the ICC in 1999.
- Working: The true achievement of Duckworth and Lewis was calculating the proportion between total runs that can be scored, and the resources remaining (both runs and balls).
- While the extremes are intuitively arrived at (100% at the beginning, 0% at the end), how each over and wicket impacts the game state was determined using a lot of number-crunching, and some statistical sorcery which is beyond the scope of this article.
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Cohabitation in France
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- France’s June 30 and July 7 elections may result in the President and Prime Minister being from different parties for the first time in 22 years.
Cohabitation in France:
- About: A situation where the President and the PM belong to different political parties
- Features: PM may choose his cabinet colleagues
- None of the members of the Govt. can be a part of the legislature
- Cabinet is presided over by the President
- The Lower House can pass the ‘Censure Motion’ against the PM and his CoM, which would imply that they must resign
- The President is elected for a fixed term. Initially the term was 9 years, reduced to 7 years and at present is 5 years.
- System: France is a semi-presidential, representative parliamentary democracy, with clearly defined roles for the President and the Prime Minister.
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NATO Secretary General
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- Recently, NATO appointed outgoing Dutch Prime Minister Mark Rutte as the alliance’s next head
North Atlantic Treaty Organization:
- About: Established in 1949 with the Washington Treaty, NATO is a security alliance of 31 North American and European countries.
- Recently, Sweden became its 32nd member.
- Objective: To protect the freedom and security of its members through political and military means.
- It operates on a principle of collective defence, where member states agree to mutual protection in the event of an external attack.
- Article 5 of the Washington Treaty asserts that an attack on one Ally is considered an attack on all, embodying the Alliance’s commitment to collective defence.
- Head Office: Brussels, Belgium.
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Official Creditor Committee (OCC)
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- Recently, Sri Lanka sealed a deal with the Official Creditor Committee [OCC], to restructure the debt owed to its bilateral lenders including India
Official Creditor Committee
- About: It is Formed in response to Sri Lanka’s request for debt treatment during last year’s economic crisis, it is co-chaired by India, Japan, and France, representing the Paris Club.
- China, Sri Lanka’s largest bilateral creditor, opted not to participate in the OCC but attended meetings as an observer.
Paris Club:
- About: The Paris Club comprises creditor nations that aim to devise viable solutions for payment challenges encountered by debtor nations.
- Members: It consists of 22 permanent members, including most Western European and Scandinavian countries, the United States, the United Kingdom, and Japan.
- India participates in the Paris Club intermittently.
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Exercise HOPEX
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- The Indian Air Force’s (IAF) Rafale fighter jets are currently in Egypt for Ex- HOPEX.
Ex-HOPEX:
- About: The fourth joint exercise between the Indian Air Force (IAF) and Egyptian Air Force (EAF) took place in Egypt from June 21 to 26.
- Aim: This exercise aims to enhance bilateral and regional cooperation, symbolising the enduring relations between the two nations.
India and Egypt relationship:
- Background: India and Egypt established diplomatic relations at the ambassadorial level on August 18, 1947.
- Collaboration: Both nations have collaborated closely in multilateral forums as founding members of the Non-Aligned Movement. In 2022, India and Egypt marked the 75th anniversary of their diplomatic ties, underscoring the depth of their relationship.
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P-Notes
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- Recently Investments through participatory notes in the Indian capital markets rose to $1.49 trillion at the end of March from the previous year
Participatory Notes:
- About: These are financial instruments which are utilised by investors and hedge funds to participate in Indian securities without needing registration with the Securities Exchange Board of India (SEBI).
- Classification: Investments through these instruments, known as Participatory Notes (PNs), are classified as offshore derivative investments.
- Registered Foreign Portfolio Investors (FPIs) issue PNs to overseas investors who wish to access the Indian stock market indirectly.
- Reporting: While Foreign Institutional Investors (FIIs) are required to report these investments to SEBI every quarter, they are not obligated to disclose the identities of the actual investors.
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Commonwealth Short Story Prize
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- Recently, Mumbai-born writer Sanjana Thakur has won the prestigious Commonwealth Short Story Prize for her story, ‘Aishwarya Rai’.
Commonwealth Foundation:
- About: The Commonwealth Foundation is an intergovernmental organisation mandated by its Member States to advance the interests of Commonwealth civil society.
- Mission: Supporting the active and constructive participation of Commonwealth citizens in all aspects of their governance. Nurturing the growth of vibrant and free civil societies in all Commonwealth countries
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