Today's Current Affairs 4th January 2024

INTERNATIONAL 

After 52 years on the throne, Queen Margrethe II of Denmark is set to abdicate

• On the 14th of January, during her New Year's speech, Queen Margrethe II of Denmark disclosed her choice to step down from the throne after a remarkable 52 years of reign. This significant announcement coincides with the anniversary of her accession to the throne at the age of 31, succeeding her father, King Frederik IX, who passed away.
• Queen Margrethe II’s legacy is one of resilience, adventure, and unwavering dedication to her role as a monarch. Her decision to abdicate the throne adds a new chapter to Denmark’s royal history, making way for her son, Crown Prince Frederik, to assume the responsibilities of the monarchy.

FIH Hockey5s World Cup Qualifiers scheduled to be hosted by Oman

• Oman is set to unveil its latest sports marvel—a cutting-edge complex designed to host the FIH Hockey5s World Cup qualifiers, scheduled just ahead of the Summer 2024 Olympic Games in Paris.
• Promising to deliver an exhilarating spectacle, the FIH Hockey5s World Cup qualifiers will draw in eight international teams competing for the opportunity to clinch three coveted tickets to the forthcoming Olympics.
• The newly constructed stadium boasts a remarkable capacity, accommodating over 5,000 spectators during the tournament. Built in adherence to the latest standards and designs approved by the International Hockey Federation, the stadium promises an unparalleled viewing experience for fans and players alike.

 NATIONAL

Tamil Nadu Fast Reactor Plant Inaugurated by Prime Minister with an investment of Rs 400 crore

• Dedicating it to the nation, Prime Minister Narendra Modi unveiled the Demonstration Fast Reactor Fuel Reprocessing Plant (DFRP) at the Indira Gandhi Centre for Atomic Research (IGCAR), Kalpakkam, with a cost of Rs 400 crore.
• The DFRP boasts a unique design, crafted entirely by Indian scientists. This facility is capable of reprocessing both carbide and oxide fuels discharged from fast reactors, setting it apart as the only one of its kind globally.
• This facility is a significant step towards advancing India’s nuclear capabilities, designed to reprocess fuel from Prototype Fast Breeder Reactors (PFBR).
• The fast reactor power generation company, Bharatiya Nabhikiya Vidyut Nigam Ltd (BHAVINI), based in Kalpakkam, is at the forefront of this initiative.

Ahead of the Vibrant Gujarat Global Summit, agreements worth $86 billion are signed by the Gujarat government

• In preparation for the upcoming biennial Vibrant Gujarat Global Summit, the Indian state of Gujarat has sealed preliminary investment deals totaling 7.17 trillion Indian rupees ($86.07 billion) with 58 companies spanning sectors like energy, oil and gas, and chemicals.
• With NTPC and Torrent Power leading the charge, these strategic investments signal a robust push by Gujarat to attract both foreign and domestic investors. This move is pivotal as Prime Minister Modi aims to bolster investment in the country ahead of the national elections, where he seeks a third term.

 SPORTS

In the Barcelona event, a new 5 km world record is established by Beatrice Chebet

• Concluding her remarkable year with a spectacular showcase of athletic prowess, Kenya's Beatrice Chebet shattered the world record for the women's 5 km marathon at the Cursa dels Nassos in Barcelona.
• Clocking an astounding 14:13, Chebet outpaced her competitors and bettered the previous record by six seconds, setting the stage for a memorable achievement.
• The final showdown was between Beatrice Chebet and Ejegayehu Taye, the former record holder. In a thrilling sprint, Chebet surged ahead in the last 500m, securing her victory with a clear lead.

 APPOINTMENS & RESIGNATIONS

The European Investment Bank welcomes Nadia Calvino as its newly appointed President

• Embarking on a historic journey, Nadia Calvino assumed the role of the new president of the European Investment Bank, officially commencing her term on January 1.
• She succeeds Werner Hoyer to become the eighth president of the EU bank. Notably, Calvino is the first woman and the first Spaniard to lead this prestigious institution, marking a significant milestone in the bank’s history.
• Before ascending to this prominent role, President Calviño had a noteworthy tenure as the first vice-president of the government of Spain and minister of economy, trade and enterprise. Her extensive experience extends to various influential positions within the European Commission.

The Federation of Associations in Indian Tourism and Hospitality (FAITH) announces Puneet Chhatwal as its newly appointed Chairman

• Puneet Chhatwal, the Managing Director and CEO of Indian Hotels Company Limited, has been appointed as the new Chairperson of the Federation of Associations in Indian Tourism & Hospitality (FAITH). This move comes as he succeeds Nakul Anand, the retired Executive Director at ITC Hotels.
• Chhatwal, a prominent figure in the hospitality sector, will also continue in his capacity as the President of the Hotel Association of India (HAI), a position he was re-elected to in 2022. This dual role positions him strategically in guiding and representing the industry on both national and broader association levels.

 IMPORTANT DAYS

2024 Marks the Celebration of World Braille Day

• World Braille Day, annually observed on January 4, is a profound tribute to Louis Braille, the visionary mind behind the transformative braille system.
• Born in 1809 in France, Louis faced the adversity of losing his sight in childhood. However, his resilience and determination led to the creation of one of history’s most revolutionary systems.
• World Braille Day aims to raise awareness about the challenges faced by individuals with visual impairments, advocating for their rights and societal integration.
• It serves as a poignant reminder of the importance of empathy and compassion towards those navigating a world without sight.

 AWARDS & RECOGNITION

Awards Season Guide 2024: Every Date You Need for the Golden Globes, Oscars, GRAMMYs and More!

• With the advent of the new year, we are on the brink of a whole new awards season, characterized by chic red carpet ensembles, moving (and sometimes heartbreaking) speeches, and endeavors at comedic sketches by hosts and presenters that will span from uproarious and unforgettable to remarkably cringe-worthy.
• The awards season landscape has finally gotten back on track following several years of pandemic-related delays and changes, and then the now-settled WGA and SAG-AFTRA strikes, which many worried would shake up the awards show calendar once again.
• Music awards shows -- including the GRAMMY Awards and the Billboard Music Awards -- were less impacted by the strikes, and are scheduled to go on as planned. Meanwhile, some film and TV-based awards that were postponed have been rescheduled, including the Oscars and Golden Globes.
• Below, ET has your handy calendar that will be continuously updated with all the key dates and details as we learn more about what's to come from the Golden Globes, SAG Awards, GRAMMYs, BAFTA Awards and more.

 BANKING AND ECONOMY

India Ratings Upgrades PNB Housing Finance's NCD Ratings to IND AA+ with a Stable Outlook

• Upgrading PNB Housing Finance Limited's non-convertible debentures (NCDs), India Ratings and Research (Ind-Ra) has revised the rating to 'IND AA+' from 'IND AA' while maintaining a stable outlook.
• PNBHF is a major housing finance player with an AUM of INR 674 billion, focusing on retail loans and boasting over three decades of operational experience.
• PNBHF has diverse funding sources, including deposits, banking lines, and external commercial borrowings, ensuring flexibility and stability in its resource profile. The company’s focus on a low-ticket, granular mortgage portfolio has contributed to improved profitability, with a return on assets of 2.2% in 1HFY24.

December Witnesses Festival Demand Slowdown as PMI Manufacturing Records an 18-Month Low at 54.9 

• The HSBC India Purchasing Managers’ Index (PMI) for manufacturing dropped to an 18-month low of 54.9 in December, down from 56 in November, signaling a slowdown.
• Despite this, the sector remains in expansion mode, marking 30 consecutive months with the index above 50, indicative of growth. The decline was attributed to a weaker rise in new orders and output.
• The manufacturing sector continued to expand in December, albeit at a softer pace, maintaining growth momentum despite a decline. New business gains, favorable market conditions, fairs, and expositions contributed to a sharp increase in manufacturing during December.