[Newsbits] 7-10.06.2024: High Seas Biodiversity Treaty, TRISHNA Satellite & More

Han Purple is a synthetic pigment from ancient China, used extensively during the Qin and Han Dynasties for various artworks, including the Terracotta Warriors. Composed of barium copper silicate, it was produced by grinding and heating raw materials. Modern research has revealed its unique quantum properties, making it a subject of ongoing scientific interest. Han Purple symbolizes power and prosperity in Chinese culture and remains significant in both historical and modern contexts.

The High Seas Biodiversity Treaty aims to protect the vast, biodiverse areas of the ocean beyond national jurisdictions. Despite its approval in 2023 and signatures from 90 countries, only seven have ratified it, far from the 60 needed for enforcement. The treaty faces challenges like slow ratification and environmental issues such as unsustainable fishing and deep-sea mining. Advocacy from organizations like IUCN stresses the importance of global cooperation for effective ocean conservation.

Pakistan and the IMF are at an impasse over tax policy changes, particularly on income tax rates for salaried and non-salaried individuals, and a proposed 18% sales tax on essentials. The IMF suggests raising the top income tax rate to 45%, affecting both groups, while Pakistan prefers to keep it at 35% for salaried individuals. The government also resists the sales tax on essentials due to inflation concerns. Negotiations continue, with Pakistan under pressure to secure a new IMF loan to avoid default.

India has emerged as a top global destination for real estate investment, attracting $3.6 billion in foreign investments in 2023, primarily in office spaces. Institutional investors prefer finished and rented properties for steady returns and lower risk. Economic growth, strong demand, and a favorable business climate drive optimism. Active investors include PAG Credit and Markets, Invanhoe Cambridge, and others. The “Make in India” program and diverse investment opportunities further bolster India’s appeal.

SEBI was awarded the “Best Conduct of Business Regulator” in the Asia-Pacific region by The Asian Banker. This award, accepted by Kamlesh Chandra Varshney in Hong Kong, highlights SEBI’s role in enhancing the Indian stock market’s regulatory framework, notably through the T+1 settlement method. SEBI’s innovations have improved market efficiency, fairness, and integrity, aligning with global best practices. Established in 1988, SEBI gained statutory powers in 1992 and continues to protect investors and ensure market transparency.