The Reserve Bank of India (RBI) and the Bank of England (BoE) on Dec 2  signed a Memorandum of Understanding (MoU) for cooperation and exchange of information in relation to the Clearing Corporation of India Limited (CCIL).

The MoU signals the end of deadlock between the Indian and European regulator over the supervisory authority on Indian clearing houses. According to an RBI statement, the MoU establishes a framework for the BoE to place reliance on RBI’s regulatory and supervisory activities while safeguarding UK financial stability.

The MoU was signed by RBI Deputy Governor T Rabi Sankar and BoE Deputy Governor for Financial Stability Sarah Breeden in London.

According to the RBI, the MoU confirms the interests of both the authorities in enhancing cooperation in line with their respective laws and regulations. It will also enable the BoE to assess the application of CCIL for recognition as a third country Central Counterparty (CCP) which is a pre-requisite for UK based banks to clear transactions through CCIL.

The European Securities and Markets Authority (ESMA) in May had de-recognised six Indian clearing houses over non-compliance with European Market Infrastructure Regulation norms. These six clearing corporations include the Clearing Corporation of India (CCIL), Indian Clearing Corporation, NSE Clearing, Multi Commodity Exchange Clearing, India International Clearing Corporation, and NSE IFSC Clearing Corporation.

Clearing corporations provide guaranteed clearing and settlement functions for transactions in money, G-Secs, foreign exchange and derivative markets. 

Taijul Islam grabbed his second 10-wicket haul in Tests as Bangladesh defeated New Zealand by 150 runs in the first Test in Sylhet on Dec 3 , taking a 1-0 lead in the two-match series.

It earned Bangladesh their second Test victory against New Zealand, with the first coming at Mount Maunganui in January 2022.

Najmul Hossain Shanto became the fourth Bangladesh captain to win his first match in charge.

The second Test of the series will be held in Dhaka between December 6 and 10.

The two-match series is the beginning of a new cycle in the World Test Championship for both teams.

Cristiano Ronaldo walked off the field with the gleeful chants of “Messi! Messi!” ringing in his ears from delighted Al-Hilal fans who had just watched their Saudi Pro League team beat the Portugal superstar's Al-Nassr 3-0 in the Riyadh Derby on Dec 2 .

Israel's military was aware of Hamas' plan to launch an attack on Israeli soil over a year before the devastating October 7 operation that killed hundreds of people, The New York Times reported .

It was the latest in a series of signs that top Israeli commanders either ignored or played down warnings that Hamas was plotting the attack, which triggered a war against the Islamic militant group that has devastated the Gaza Strip.

The Times said Israeli officials were in possession of a 40-page battle plan, code-named "Jericho Wall", that detailed a hypothetical Hamas attack on southern Israeli communities.

It was unclear how the document was obtained by Israel, but the article said that it had been translated — indicating it may have been in Arabic and directly intercepted from Hamas.

The Israeli military declined to comment on the report, saying it was "currently focused on eliminating the threat from the terrorist organization Hamas."

India and the US have agreed to strengthen cooperation in sectors like pharmaceuticals, semiconductors, critical minerals and emerging technologies.

The two countries also discussed collaborative opportunities in green and clean technologies; and strengthening partnerships in critical technologies, the commerce ministry said.

These key areas emerged from the discussions during the meeting of Commerce and Industry Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo at a review meeting of the India-US CEO Forum virtually.

Raimondo urged the CEO Forum to seize the current momentum and implement the pivotal recommendations outlined by the forum members. She also announced the inclusion of four new members in the forum from the US industry including Honeywell, Pfizer, Kyndryl, and Viasat.

The Forum, comprising CEOs from leading Indian and US-based companies, is co-chaired by N Chandrasekaran, Chairman, Tata Sons, and James Taiclet, President and Chief Executive Officer, Lockheed Martin.

This was the eighth meeting of the forum since its reconstitution in December 2014.

It is a key advisory private sector body to the India-US Commercial Dialogue, and it witnessed participation from 27 CEOs from both sides. The next meeting will take place early next year.

Goyal encouraged the industry to leverage platforms like the Semiconductor Supply Chain and Innovation Partnership, Innovation Handshake, India-Middle East-Europe Economic Corridor and Global Biofuels Alliance and explore collaborative opportunities.

As she did in the 2023 World Championships in Riyadh in September, ace Indian weightlifter Saikhom Mirabai Chanu will only mark her attendance at the IWF Grand Prix II in Doha, Qatar starting  on Dec 4 . As participation in the Qatar event is mandatory to qualify for the 2024 Paris Olympics, the Tokyo Olympics silver medallist will give the body weight and dope test, if required.

To qualify for the Paris Olympics, participation in the 2023 World Championships and the 2024 IWF World Cup is a must. Besides, the lifter has to participate in a minimum of three of the five events a) 2022 IWF World (Senior) Championships, b) 2023 Continental (Senior) Championships, c) 2023 IWF Grand Prix I, d) 2023 IWF Grand Prix II and e) 2024 Continental (Senior) Championships.

The Asian Championships, which is also a qualifying event for the 2024 Games, will be held from February 3 to 10 in Tashkent, Uzbekistan.

5-member Indian team

A five-member Indian contingent reached Doha on Dec 3  to compete at the event. Apart from Mirabai, the team comprised S Bindyarani Devi (55kg), N Ajith (73kg), Achinta Sheuli (73kg) and Gurdeep Singh (+109kg). The competitions in 73kg men and 55kg women will be held on December 6. Ajith is placed in group C with an entry of 290kg while Achinta is in group B with an entry of 300kg. Bindyarani is in group A with an entry of 190kg.

A total of 120 lifters will compete in five weight categories each in the men's and women's sections at the Paris Games. As many as 50 men and as many women will qualify via OQR (top 10 in each division) while 10 quota places (5 men and 5 women) will be reserved for continental representation. Six lifters (3 men and 3 women) will be eligible for universality places apart from four lifters (2 men and 2 women) from the host country.

The qualification period for the OQR began on August 1, 2022, and concludes on April 28, 2024.

As results emerge out of the states of Telangana, Chhattisgarh, Madhya Pradesh, and Rajasthan, the BJP has reasons to cheer, and Congress has proved once again that it's yet to learn the lessons of realpolitik.

The Congress on Dec 3 suffered a near wipeout in the Hindi heartland as it lost 3-1 to the BJP in the assembly polls, signalling the need to redraw its strategy for the 2024 Lok Sabha elections. Its loss in the key states has also weakened the grand old party's position in the INDIA bloc where equations are set to change, as other opposition parties would challenge its position as the fulcrum of the alliance.

Telangana, India's newest state, is the only silver lining for the Congress. The southern state voted out two-time Chief Minister KCR who spearheaded its creation. A leader who once could do no wrong has fallen into another cautionary tale of how not to rule.

In Madhya Pradesh, on the line was the fate of the BJP's longest-serving CM Shivraj Chouhan. He has proved many pollsters wrong yet again. The defeat could be the swansong of Kamal Nath, as seasoned a politician as they come. The BJP's organizational strength and Chouhan's enduring commitment to development played key roles in its dominant win.

In Chhatisgarh, it was Bhupesh 'the great survivor' Baghel, who was keen to return to power. But Raman Singh, the ex-CM from BJP, has ended up scripting his redemption song.

Finally, let's not forget Rajasthan, where Ashok Gehlot was hoping to cock a snook at everybody once again. The state has not voted back a party to power in 40 years. Gehlot believed he could buck that trend, but Vasundhara Raje and the BJP had other ideas.

Mizoram, which voted on November 7, will see its results counted on December 4 -- a day after it was originally scheduled. The Election Commission altered the date for tallying votes, citing the significance of Sunday for the predominantly Christian population in the state.

THE NUMBERS

Khalistani terrorist Lakhbir Singh Rode chief of banned organizations International Sikh Youth Federation and Khalistan Liberation Force (KLF) who was based in Pakistan died in the neighboring country following a cardiac arrest.

Lakhbir was among India's 'most wanted' men and the nephew of Jarnail Singh Bhindranwale. The 72-year-old, who was the brain of the Khalistani separatist movement, had fled to Pakistan after Bhindranwale's death and settled down in Lahore.

Lakhbir was listed as an `individual terrorist’ under the UAPA as he was accused in the 1985 Kanishka bombing of the Air India plane.

Lakbir Singh who hails from Rode village in Moga district of the state had initially fled to Dubai but later moved to Pakistan but his family was staying in Canada.