British PM race
The resignation of Boris Johnson was another instance of a UK Prime Minister resigning after a tumultuous few years, and not completing the entire term.
Now, a heated race within the conservative party has started to find the next candidate. At the moment, Rishi Sunak seems to be one of the favorites and his charisma in the parliament has made him a well respected politician.
Even though many have predicted him to take the reins, he considers himself an underdog. However, his socio-economic promises seem to be a great next step for the nation. The next prime minister will be crucial not only for the UK but also for this world given the current situation with the Russia-Ukraine War and Europe energy problems.
Why is the rupee falling against the dollar?
Just 42 years ago, 7 rupees was equal to a single dollar. But now, the number has crossed 80, and is increasing further. In recent years, the rupee has been rapidly devaluing against the dollar at an increased rate. What is the cause of this?
In simple economics, if a country imports more than it exports, the demand for that country’s currency will go down, and the demand for the foreign currency, like the dollar in this scenario, will appreciate.
All in all, there are multiple reasons behind the rupee’s constant fall. For instance, in February this year when Russia commenced its invasion on Ukraine, many countries stopped accepting oil from Russia and hence oil prices elsewhere went up as demand went down. This caused India to spend more on imports, devaluing the rupee. Along with this, many foreign investors are selling their shares in India, with a combined value of approximately 28.4 billion dollars worth of shares being sold.
This means cash is leaving the country and entering a foreign country, further depreciating the value of the rupee. Meanwhile, the US Federal Bank is increasing interest rates to combat inflation, leading to a higher return on dollar assets compared to that of India. This along with many other factors has led to the value of the rupee depreciate on the value of the dollar. India depends on its imports for valuable resources, and since it is paid in dollars, the cost of the goods imported is higher for the same quantity of items.
Furthermore, the weakening rupee is coming at the wrong time, as the global economy is already under pressure due to inflation. But this doesn’t mean there is a problem with the Indian economy, as this is not an isolated case. Many global currencies are also losing value to the dollar, and as a result India is actually faring well compared to other major currencies such as the Euro.
Should ODIs be scrapped permanently?
Former Pakistani legend Wasim Akram wants ODI cricket to be permanently scrapped because it's "a run of the mill", and now wants game admins to make appropriate changes to the format. Akram commented this on the post of Ben Stokes announcing his retirement from ODI.
Akram said “I think so (ODIs should be scrapped). In England you have full houses. In India, Pakistan especially, Sri Lanka, Bangladesh, South Africa, one-day cricket you are not going to fill the stadiums,” on the Vaughan and Tuffers Cricket Club podcast. He added,
"They are doing it just for the sake of doing it. After the first 10 overs, it’s just ‘OK, just go a run a ball, get a boundary, four fielders in and you get to 200, 220 in 40 overs’ and then have a go last 10 overs. Another 100. It’s kind of run-of-the-mill,”. Wasim Akram said he feels sad that Ben Stokes is retiring but agrees with Ben Stokes. Akram also stated that ODI’s have no future compared to T20I cricket, while test cricket being the original format of the game will always remain relevant.
Ukraine, Russia sign a deal to resume exporting of grain during the ongoing war to help the world food crisis
US President Joe Biden tested positive for Covid-19 earlier this week
Initial plans to treat and remove the radioactive water inside the Fukushima plant have been approved by the Japanese government
India topped the remittance recipients charts with 87 billion dollars received by Indian citizens through remittances
Italian Prime Minister Mario Draghi resigns from duty after he loses support in the Parliament
Olympic Gold medalist Neeraj Chopra makes it to the finals of the World Athletics Championship
World Cup Winner Ben Stokes announces retirement from ODIs
Reigning World Chess Champion Magnus Carlsen opts out of defending his world crown
Polish Striker Lewandoski leaves Bayern Munich, joins FC Barcelona for the upcoming football season
Charles LeClerc grabs pole at the ongoing French Grand Prix
Fact or Fiction
1. Japan has one vending machine for every 40 people.
2. Limes float, but lemons sink (limes are denser than lemons).
3. McDonald’s once made bubblegum-flavored broccoli.
4. Some viruses create zombies, then control their minds.
5. The first oranges weren’t orange.
6. There’s only one letter that doesn’t appear in any U.S. state name.
7. Scotland has 421 words for snow.
8. Armadillo shells are bulletproof.
9. Samsung tests phone durability with a butt-shaped robot.
10. The longest English word is 189,819 letters long (the chemical formula for the protein nicknamed titin).
Book Name: They Both Die At The End Author: Adam Silvera Rating: ★★★★★
Age: 14+ Genre: Young Adult, LGBTQ Fiction
Review: It’s not just suspense that hangs solemnly from the very first page of this book, but an overshadowing gloom, as well; it dampens the pages but quickens the breath and I found myself hooked onto this book at 1:00 am in my hotel room, refusing to do anything but read. Rufus and Mateo, two opposite personalities, poles apart from each other, find three things in common on one random night: (1) They are going to die within 24 hours; (2) They wish to live their last day with love and hope and happiness and adventure and; (3) Eachother. They find each other. As Last Friends, both boys tackle their day hand in hand, through hospitals, pubs, and museums- everything you could possibly imagine- and things that you can’t (death). It overflows with passion and tenderness and Silvera successfully makes you think, really truly think, about Life as we live it.
Written by Vivaan Dharamshi
Edited by Nirvaan Zaveri
Article 1 by Arhaan Zaveri
Article 3 by Krishnav Bubna
Fact or Fiction by Nikunj Gupta
Review by Dia Makhecha
Fact or Fiction Answers:
2Fiction (The order is the opposite, lemons float and limes sink).
4 Fiction (It’s actually fungi that do this, but there is also a possibility of viruses doing it in the Rabies – Flu hybrid).