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Daily Top-10 Current Affairs MCQs / News (March 23, 2022) for CSS, PMS

6. ADB approves $300m for capital market reforms

• The Asian Development Bank (ADB) on March 22, 2022 approve d a $300 million loan as budgetary support to Pakistan for the development of the capital market, promotion of private investment and help mobilise resources to finance sustainable economic growth.
• The second sub programme of ADB`s Third Capital Market Development Programme builds on institutional and regulatory reforms under the first sub programme approved in 2020. It aims to catalyse institutional investor demand and increase the range of alternative financial instruments such as derivatives and commodity futures that are available to investors.
• `For several years ADB has been Pakistan`s lead development partner in supporting the evolution of its capital markets,` said ADB Director General for Central and West Asia Yevgeniy Zhukov. `By making the country`s capital markets more robust and strengthening government debt management, this new programme will also help to mobilise more domestic resources which support the government`s efforts to finance sustainable growth and respond effectively to crises

7. Ukraine claims retaking key Kyiv suburb; Mariupol braves bombing

• Ukraine claimed on March 22, 2022 it had retaken a strategically important suburb of Kyiv on Tuesday, while its forces battled Russian attempts to occupy the encircled southern port city of Mariupol.
• Civilians fleeing Mariupol said the city was under relentless bombardment, with block after block of destroyed buildings and corpses in the streets. Perched on the Sea of Azov, Mariupol is a crucial port for Ukraine and lies along a stretch of territory between Russia and Crimea.
• The siege has cut the city off from the sea and allowed Russia to establish a land corridor to Crimea.
• In their last update, Mariupol officials said on March 15 that at least 2,300 people, among them 117 children, had died in the siege

8. Surface water availability becoming limited: Unesco

• The United Nations World Water Development Report has projected that while water use is projected to grow by roughly one per cent per year over the next 30 years, overall dependence on groundwater is expected to rise as surface water availability becomes increasingly limited due to climate change.
• Released by Unesco, on the occasion of World Water Day, the report points out the low use of water is not due to a lack of renewable groundwater, but rather by a lack of investments in infrastructure, institutions, trained professionals and knowledge of the resource.
• The report says groundwater accounts for 99pc of all liquid freshwater on Earth. However, this natural resource is often poorly understood and consequently undervalued, mismanaged and even abused

9. Biden calls India `shaky` in response to Russian invasion

• US President Joe Biden has said that among America`s NATO and Pacific allies only India has been `somewhat shaky` in responding to the Russian invasion of Ukraine.
• In his address to a meeting of US business leaders in Washington on Monday, President Biden said his Russian counterpart Vladimir Putin was trying to split Nato to weaken the strong international stance against the invasion but has failed to do so.
• `I can assure you: Nato has never been stronger or more united in its entire history than it is today, in large part because of Vladimir Putin,` he said. `And in response to his aggression, … we presented a united front throughout Nato and in the Pacific

10. Sisi hosts UAE, Israeli leaders for historic summit

• Egypt hosted the Israeli and UAE leaders for unprecedented three-way talks on March 22, 2022 as the Ukraine war rocks energy and food markets and major powers inch towards a revived Iran nuclear deal.
• The summit was held in the Red Sea resort of Sharm el-Sheikh between Egypt`s President Abdel Fattah al-Sisi, Israeli Prime Minister Naftali Bennett and the UAE`s de facto ruler, Abu Dhabi Crown Prince Mohammed bin Zayed.
• It comes nearly a month after Russia invaded Ukraine in a move that sparked concerns about security and sent prices of oil, wheat and other key commodities soaring.
• Egypt, Israel and the United Arab Emirates are allies of the United States but they have so far avoided taking positions against Russia over its war on Ukraine

Daily Top-10 Current Affairs MCQs / News (March 23, 2022) for CSS, PMS

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