Current affairs 18 January 2024

Switzerland agrees to host Global Peace Summit for Ukraine.

• Switzerland accepts President Zelenskiy's request to host a global peace summit, leveraging its neutrality and past mediation roles.
• Aims to find a resolution to the conflict initiated by Russia's invasion of Ukraine on Feb. 24, 2022.
• Highlights the importance of Global South's presence to showcase worldwide opposition to Russian aggression.

Sarma launches distribution of ration cards for over 40 lakh people.

• Assam Chief Minister Himanta Biswa Sarma attends the ceremonial distribution of ration cards to 42,85,745 new beneficiaries under the National Food Security Act (NFSA) in Guwahati's Maligaon.
• Each member is entitled to 5 kgs of rice every month free of cost.
• The entitlement is available every month during "Anna Sewa Saptah," and for this month, it will be available until January 31.

Gujarat, Kerala, Karnataka top DPIIT ranking: best startup ecosystem.

• Gujarat and Karnataka emerged as the 'best performers' in fostering a robust startup ecosystem, as per the ranking by the Department for Promotion of Industry and Internal Trade (DPIIT).
• Kerala, Tamil Nadu, and Himachal Pradesh are also distinguished as top performers in creating a conducive environment for budding entrepreneurs.

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INOX inks MoU with Maharashtra for $3 Billion Green Ammonia Plant.

• INOX Air Products, a leading industrial and medical gases manufacturer, signs a Memorandum of Understanding (MoU) with the Maharashtra government for a green ammonia plant with a planned outlay of $3 billion.
• The project aims to be commissioned within 3 to 5 years and is designed to produce 500,000 MTPA (metric tons per annum) of liquid ammonia.
• INOX operates about 45 locations across India.

Oxfam Report: richest five double fortunes amidst economic struggles.

• Oxfam report reveals the combined wealth of the world's five richest men surged from $405B to $869B in 2021.
• Billionaires collectively gained $3.3B since 2020, exacerbating inequality amidst global economic challenges.
• Oxfam advocates for a wealth tax, capping CEO pay, and dismantling monopolies to address wealth concentration.