[Newsbits] 2-9.07.2024: Zorawar Tank, GOLD Satellite, Great Nicobar Project & More

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/ Investment Models

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/ Korea

North Korea announced the successful test of the Hwasongpho-11 Da-4.5 tactical ballistic missile, capable of carrying a 4.5-ton warhead with a range of 90-500 km. The test aimed to verify flight stability and hit accuracy, but details about the launch and landing sites were not disclosed, and no photos were released. South Korea observed two missile launches, with the second missile failing midair. This led to skepticism about the test’s success, suggesting possible deception by North Korea. Tactical ballistic missiles are short-range weapons used on the battlefield, with historical origins in WWII and modern examples like the MGM-140 ATACMS and Russian Iskander.

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/ Banking

The Bharat Bill Payment System (BBPS), managed by the National Payments Corporation of India (NPCI), aims to streamline and secure the payment process for both companies and customers. From July 1, all credit card payments through third-party apps must be routed via BBPS, impacting users of platforms like CRED, PhonePe, Amazon Pay, and Paytm. This move by the Reserve Bank of India (RBI) seeks to make credit card payments more regulated and transparent, reducing risks and simplifying monitoring. While twelve major Indian banks are already integrated with BBPS, others like HDFC and Axis Bank are still in the process. Integration challenges include significant investments and changes to existing systems, which may not be immediately profitable.

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In July 2024, New Delhi will host the 46th UNESCO World Heritage Committee session at Bharat Mandapam, with PM Narendra Modi inaugurating the event. Over 2,500 delegates from 195 countries will attend. The World Heritage Committee, part of the 1972 UNESCO Convention, ensures compliance, manages the World Heritage Fund, and decides on new site inscriptions. It comprises 21 elected States Parties, including Argentina, Japan, and Kenya. The committee’s roles include heritage site inscriptions, conservation status reviews, and providing financial and knowledge support. India’s hosting underscores its cultural leadership and commitment to heritage protection, with 42 UNESCO sites, including Santiniketan.

/ Awards & Honors

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China has emerged as the global leader in generative AI patents, filing over 38,000 patents between 2014 and 2023, significantly outpacing the US, which filed 6,276 patents in the same period. Generative AI, which includes advanced algorithms capable of creating new text, images, music, and code, has seen more than 50,000 patent applications in the last decade. This technology is rapidly growing and is expected to transform various industries, including customer service, science, writing, and transportation. Key contributors to this field include Chinese companies like ByteDance and Alibaba, as well as Microsoft through its partnership with OpenAI.

/ Afghanistan

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/ Diseases

The discovery of a Neanderthal child with Down syndrome at the Cova Negra site in Valencia, Spain, highlights the compassionate and complex social structure of Neanderthal societies. Named Tina, the child exhibited symptoms such as hearing loss and dizziness and lived to at least six years old, indicating extensive community care. This finding challenges previous notions that Neanderthal care was only for reciprocating adults, suggesting genuine altruism. The study also underscores the importance of interdisciplinary research methods in paleoanthropology, providing deeper insights into the health and social dynamics of ancient populations.

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