May 2023

Daily Top-10 Current Affairs MCQs / News (May 19 2023) for CSS

May 19, 2023
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6. Banks to pay if depositors lose funds to digital frauds: SBP

• The State Bank has warned banks that they would be held responsible for lost account holder funds if they failed to take preventive measures to combat social engineering and other digital banking frauds on time.
• `Banks are required to compensate the customers due to delay on their part in taking timely remedial and control measures such as delay in blocking digital channels, delay in raising dispute requests, etc.,` the central bank said in a statement on Thursday.
• The number of complaints against fraud, particularly about digital transactions, has been increasing fast, as reflected in a banking ombudsman`s report.
• The State Bank of Pakistan (SBP) has now directed commercial banks and microfinance banks to improve their digital fraud protection controls and processes to combat social engineering and other digital banking frauds

7. Xi opens Central Asia summit, says `new era` awaits region

• Chinese President Xi Jinping hailed a `new era` of ties with Central Asia on May 18, 2023, kicking off a summit Beijing hopes will deepen relations with the strategically vital region.
• Held in the ancient Chinese city of Xi`an, the historic eastern end of the Silk Road that linked China to Europe through Central Asia, Beijing has said this week`s meeting is of `milestone significance`.
• And in a speech to the region`s leaders at a welcoming banquet on Thursday evening, Xi said strengthening ties was a `strategic choice`.
• `I am confident that with our joint efforts, tomorrow`s summit will be a full success and will herald a new era of China-Central Asia relations,` Xi was quoted as saying

8. Assad arrives in Saudi Arabia on first visit since war

• Syrian President Bashar al-Assad arrived in Saudi Arabia on May 18, 2023, state media said, to join an Arab League summit for the first time in more than a decade of war.
• The visit seals Assad`s dramatic return to the Arab fold, a development championed by host Saudi Arabia and fellow Gulf power the United Arab Emirates despite reservations from other Arab leaders.
• Assad `arrived at King Abdulaziz International Airport in Jeddah to participate in… the Arab League summit` to be held on Friday (today), Syrian state television reported

9. G7 to consider squeezing Russia, weigh risk of China`s `economic coercion`

• G7 leaders arrived in Hiroshima, Japan, on May 18, 2023 to weigh tighter sanctions on Russia and protections against China`s `economic coercion`, surrounded by reminders about the harrowing cost of war.
• Japanese Prime Minister Fumio Kishida is hosting leaders from six other wealthy democracies in his hometown a city synonymous with nuclear destruction and now peppered with peace monuments.
• Leaders including US President Joe Biden will try over three days to forge a united front on Russia and China, where the allies` interests do not always neatly align. Biden`s delicate diplomatic offensive in Asia hit a bump even before Air Force One left US soil: a domestic budget row forced him to cancel stops in Papua New Guinea and Australia

10. 66 US lawmakers urge Blinken to push for `democracy` in Pakistan

• As many as 66 US lawmakers have urged Secretary of State Antony Blinken to push for democracy and human rights in Pakistan, although the Biden administration is still reluctant to take sides in the current political dispute.
• `We write to express our concerns about the current situation in Pakistan and urge you to use all diplomatic tools at your disposal to pressure the government of Pakistan towards a greater commitment to democracy, human rights, and the rule of law,` the lawmakers wrote in a letter they sent to Secretary Blinken.
• The lawmakers also urged Blinken to persuade Islamabad to `investigate any infringement upon freedom of speech and freedom of assembly in Pakistan`.

Daily Top-10 Current Affairs MCQs / News (May 19 2023) for CSS

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Shahzad Faisal Malik has worked as a Graphic Designer/Content Creator at CSSTimes in the past. In his free time, Shahzad Faisal Malik enjoys watching Cricket, writing blogs for different websites and is always on the lookout for new and interesting content to share with the readers of this website.
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