Daily Top-10 Current Affairs MCQs/News (Jun 21 2023) for CSS

Table of Contents

6. Pakistan qualifies for UK`s new scheme

• Pakistan has qualified for the United Kingdom`s new preferential trade scheme, which allows Islamabad to avail duty-free exports to the UK markets.
• On June 19, the preferential trade programme called the Developing Countries Trading Scheme (DCTS) replaced the UK`s Generalised Scheme of Preference (GSP). Pakistan will be one of the 65 countries to avail lower tariffs on exports to the UK market.
• DCTS covers 37 countries in Africa, 26 in Asia/ Oceania/Middle East and 2 in the Americas, representing varied and exciting trade opportunities around the world. The scheme was announced last year, and legislation has since been finalised to bring it into force

7. Foreign direct investment dips 21pc

• After a drop in both remittances and exports, foreign direct investment (FDI) fell 21 per cent in the 11 months through May, though inflows in May rose on both month-on-month and year-on-year bases.
• The State Bank`s data issued on Tuesday noted an FDI inflow of $149.6 million in May compared to $121.6m in April 2023 and $141.2m in May 2022.
• Due to prolonged political and economic uncertainties, there was little hope in the financial circle for improvement in foreign investments.
• For more than a decade, Pakistan has lost attraction for foreign investments. The current economic turmoil has badly damaged the country`s image as an attractive place for investments

8. Kyiv suffers `massive` drone attack

• Russian forces launched a major drone assault on Kyiv overnight and attacked several other regions, Ukrainian officials said on Tuesday, but there were no reports of casualties.
• `New massive air attack on the capital,`wrote the Kyiv City Military Administration, adding that it was the first attack on the Ukrainian capital in 18 days to use Iranian-made Shahed explosive drones.
• Russia had launched a wave of aerial attacks on critical Ukrainian infrastructure over the winter months but those cruise missile and drone strikes have become less frequent. The Ukrainian air force said on Tuesday it had downed a total of 32 attack drones out of 35 launched by Russia`s forces

9. Global markets drop as China rate cut underwhelms traders

• Global stocks mostly fell on Tuesday as China`s smaller than-forecast interest rate cut failed to dispel worries over its flagging powerhouse economy.
• Asian stocks finished mostly lower, as did European equities. Wall Street opened lower upon returning from a long holiday weekend.
• London stocks firmed on the eve of critical UK inflation data and ahead of Thursday`s expected interest rate increase from the Bank of England. World oil prices slumped and the dollar wavered against rival currencies

10. Four shot dead near West Bank

• Four people were shot dead Tuesday near a settlement in the occupied West Bank, Israeli officials said, a day after an army raid in the territory left six Palestinians dead.
• Tuesday`s attack took place at a petrol station near the Eli settlement, south of Nablus.
• Four other people were wounded, according to Israel`s Magen David Adom (MDA) emergency services