Prime Minister Narendra Modi on Dec 2 proposed to host the UN climate conference in 2028 or COP33 in India and launched the Green Credit Initiative focused on creating carbon sinks through people's participation.

Addressing the high-level segment for heads of states and governments during the UN climate conference in Dubai, he said India has presented a great example to the world of striking a balance between development and environment conservation.

India is one among only a few countries in the world on track to achieve its Nationally Determined Contributions or national plans to limit global warming to 1.5 degrees Celsius, the guardrail to avoid worsening of climate change impacts.

Modi was the only leader to join the opening plenary along with COP28 President Sultan Al Jaber and UN Climate Change President Simon Steill.

The prime minister called for maintaining a balance between mitigation and adaptation and said that energy transition across the world must be "just and inclusive".

He called for rich countries to transfer technology to help developing nations combat climate change.

The prime minister has been championing the Lifestyle for Environment (LiFE movement), urging countries to adopt planet-friendly living practices and move away from deeply consumerist behaviours.

He cited a study by the International Energy Agency, saying this approach can reduce carbon emissions by 2 billion tonnes.

Modi said everyone's interest must be protected and everyone's participation is necessary in the fight against climate change.

Barrister Gohar Ali Khan emerged as the uncontested choice for the new chairman of Pakistan Tehreek-e-Insaf (PTI), succeeding the imprisoned former prime minister.

The Pakistan Tehreek-i-Insaaf (PTI) conducted the intra-party elections held on the directives of the Election Commission of Pakistan (ECP) with voters utilising an online app to cast their votes.

Nominated by the PTI founder a few days prior, Barrister Gohar Ali Khan assumed the top leadership position unopposed.

South Korea launched its first military spy satellite into space  on Dec 2, a little over a week after North Korea claimed to put its own spy satellite into orbit for the first time as tensions rise between the rivals.

Launched from California’s Vandenberg Space Force Base using SpaceX’s Falcon 9 rocket, it was the first of five spy satellites South Korea plans to send into space by 2025 under a contract with SpaceX. The event had been scheduled for earlier in the week but was pushed back because of weather conditions.

South Korea had no military reconnaissance satellites of its own in space and has partially resorted to the United States’ spy satellites to monitor moves by North Korea.

South Korea’s Defense Ministry described the launch as successful, saying the satellite had communication with an overseas ground station.

Ballistic missiles fired by Yemen’s Houthi rebels struck three commercial ships  on Dec 3in the Red Sea, while a US warship shot down three drones in self-defense during the hourslong assault, the U.S. military said. The Iranian-backed Houthis claimed two of the attacks.

The strikes marked an escalation in a series of maritime attacks in the Mideast linked to the Israel-Hamas war, as multiple vessels found themselves in the crosshairs of a single Houthi assault for the first time in the conflict. The US vowed to “consider all appropriate responses” in the wake of the attack, specifically calling out Iran, after tensions have been high for years now over Tehran’s rapidly advancing nuclear program.

Billionaire Gautam Adani-led Adani Group is planning to spend `7 lakh crore ($84 billion), mainly on infrastructure, over the next decade, said Jugeshinder Singh, Group chief financial officer of Adani Group on Dec 2

This is the biggest investment announced by the port-to-power conglomerate after the stock rout caused by a report by US-based short-seller Hindenburg Research earlier this year.  About 80% of the group’s long-duration capital comes from the global capital market, while the remaining 20% of shorter-duration capital comes from the domestic market.

The CFO said Adani Group will take a call on the divestment of its stake in the Adani Wilmar joint venture within the next three months. As per reports, the Group is in talks with various multinational consumer goods companies to divest its entire 43.97% stake in Adani Wilmar. The FMCG firm, which retails Fortune edible oil, is a JV between Adani and Singapore’s Wilmar group.

The National Company Law Appellate Tribunal (NCLAT) has upheld the National Financial Reporting Authority’s (NFRA) orders on DHFL branch auditors, dismissing the appeals and finding no error in the decisions.

The NCLAT emphasised the importance of giving effect to the NFRA orders, stating that it is crucial to inform the public and assist them in making sound financial decisions.

NFRA had imposed fines of Rs 1 lakh each on 18 auditors of DHFL in October. Out of the 18 auditors, 14 were barred for a period ranging from six months to one year due to misconduct in branch audits. DHFL was accused of fraud amounting to Rs 31,000 crore, with its directors facing allegations of banking fraud totalling nearly Rs 4,000 crore. It saw four of its auditors challenging the NFRA order. These auditors, who were penalised and a one-year debarment, denied any wrongdoing and questioned the NFRA’s jurisdiction over audits conducted before its establishment, as the audit in question pertained to the five years until 2018-19.

NCLAT further clarified that the NFRA possesses retrospective jurisdiction to initiate proceedings against auditors or audit firms, even for audits conducted before the NFRA coming into force. The NCLAT stated that there was no violation in NFRA orders due to the non-constitution of divisions.It also highlighted that the NFRA holds significantly more powers and authority over the professional misconduct of members of the Institute of Chartered Accountants of India (ICAI).

Coal production from captive coal mines in November 2023 recorded a 37% growth to 11.94 million tonnes (MT), according to the coal ministry.

Dispatch from both captive and commercial coal mines during the same period surged to 12.92 MT, marking a 55% growth from the 8.36 MT dispatched in the corresponding month of the previous year. The average daily coal dispatch in November 2023 reached an all-time high, reaching at 4.3 lakh tonnes per day.

The surge in production and dispatch from these blocks has been sustained throughout the period from April to November 2023.

Rafael Nadal will return to playing at the Brisbane International in Australia in January, the 22-time Grand Slam champion said.

The 37-year-old Spaniard has not played on tour since last January, when he hurt his hip flexor during a loss in the second round of the Australian Open.

In May, a little more than a week before the start of the French Open, Nadal announced that he would miss the tournament he’s won a record 14 times and wasn’t exactly sure when he might return to play.

Nadal had said then that he hoped to compete in 2024, which he expected to be his final season.

He wound up having arthroscopic surgery in June in Barcelona.

Dating to the end of 2022, the Spanish left-hander has lost seven of his past nine matches, including going 1-3 this season.

Nadal's 22 Grand Slam singles titles rank second to Novak Djokovic’s 24 for the most among men.