[Newsbits] 25.06-1.07.2024: CriticGPT, Snowblind Malware. & More

António Costa, the former Prime Minister of Portugal, has been elected as the President of the European Council, marking a significant shift in EU leadership. Costa, known for his pragmatic and socially just leadership, has a rich political background, including roles as a cabinet minister, vice president of the European Parliament, and mayor of Lisbon. His notable achievements include receiving the Pravasi Bharatiya Samman award and holding an OCI card. The European Council presidency, established by the Treaty of Lisbon, involves guiding discussions and achieving consensus among EU member states. Costa’s election signifies Portugal’s rising influence in the EU.

The Indian Army has deployed its first indigenous 4G mobile base station, developed by Signaltron in Bangalore. This move, facilitated through the Government e-Marketplace (GeM), marks significant progress towards self-sufficiency in critical technology. Signaltron, founded by Himamshu Khasnis in 2010, has created the Sahyadri LTE base stations using locally developed chips. These portable and secure systems enhance military communication capabilities. The strategic shift from foreign to indigenous technology strengthens national security and is expected to boost the Indian base station market to USD 24 billion by 2029, with global opportunities in the CNPN 4G/5G market projected to exceed USD 30 billion by 2030.

The Indian Navy’s participation in RIMPAC 2024, the world’s largest international maritime warfare exercise, underscores its operational capabilities and commitment to global maritime security. Held in Hawaii, RIMPAC 2024 involves 29 countries, 150 planes, 40 surface ships, 3 submarines, and over 25,000 personnel. The Indian Navy deployed the INS Shivalik, a multi-role stealth frigate, which traveled 9000 nautical miles to participate. The exercise includes a harbor phase (June 27 – July 7) and a sea phase with complex maritime activities. The objectives are to strengthen international ties, enhance interoperability, and maintain Indo-Pacific stability, aligning with the theme “Partners: Integrated and Prepared.”

North Korea recently fired two ballistic missiles in response to joint military drills by the US, South Korea, and Japan. The missiles, launched from Jangyon, flew different distances, with one landing near Chongjin and the other within North Korea. These launches followed the “Freedom Edge” drills aimed at enhancing joint military capabilities. North Korea condemned these exercises, viewing them as threats to its sovereignty, and showcased its readiness to counteract with missile tests. Historically, North and South Korea have experienced fluctuating relations, marked by moments of cooperation and significant tensions, particularly around the fortified DMZ.

The Teesta Treaty is a proposed water-sharing agreement between India and Bangladesh concerning the Teesta River, which originates in Sikkim and flows into Bangladesh. The river is crucial for agriculture and the environment in both countries. A 2011 treaty proposal suggested India receive 42.5% and Bangladesh 37.5% of the water, but it was blocked by West Bengal’s Chief Minister due to concerns about the impact on North Bengal. In June 2023, Indian Prime Minister Narendra Modi emphasized managing water flow rather than sharing it, which was met with opposition from West Bengal. The treaty is complicated by political, environmental, and regional cooperation issues, including China’s involvement in Teesta management projects.

In 2023, India achieved the highest record of remittance inflows globally, amassing USD 125 billion. This surge was driven by strategic economic deals and robust job markets in countries like the US, UK, and Singapore. A significant agreement with the UAE facilitated trade using local currencies, enhancing remittance flows. The World Bank reported that remittances to India increased, raising South Asia’s share from 63% in 2022 to 66% in 2023. Despite a slowdown in growth rate from 24.4% to 12.4%, declining inflation and job opportunities in high-income countries contributed to this rise. The India-UAE Comprehensive Economic Partnership Agreement (CEPA) aims to double bilateral trade to $100 billion in five years, focusing on key sectors and reducing tariffs.