EU carbon tax: India flags risk of trade info getting compromised.

• India flagged concerns relating to sensitive and confidential trade data of its exporters getting compromised while complying with the European Union’s Carbon Border Adjustment Mechanism (CBAM).
• Carbon Border Adjustment Mechanism (CBAM) is a proposed European Union (EU) tariff on carbon-intensive products.
• Purpose: To put a fair price on the carbon emitted during the production of carbon intensive goods that are entering the EU and to encourage cleaner industrial production in non-EU countries.
• It was adopted on May 17, 2023, and the CBAM transitional period started October 1, 2023.
• It is designed to counter the risk of carbon leakage and operates by imposing a charge on the embedded carbon content of certain imports that is equal to the carbon price of domestic production.

How does it Work?

• If implemented as planned, EU importers will have to buy carbon certificates corresponding to the carbon price that would have been paid in the EU if the goods had been produced locally.
• The price of the certificates would be calculated according to the auction prices in the EU carbon credit market.
• The amount of certificates required would be defined yearly by the quantity of goods and the embedded emissions in those goods imported into the EU.
• Companies in countries with a domestic carbon pricing regime equivalent to the EU’s will be able to export to the EU without buying CBAM certificates.
• The CBAM will initially affect goods imported from non-EU countries that are particularly carbon-intensive, namely specified goods within the cement, electricity, fertilisers, aluminium, iron, steel, and hydrogen sectors, as well as some upstream and downstream products (mainly iron, steel, and aluminium).

Transition Period:

• In the transitional phase of the implementation of the CBAM, from October 1, 2023, to December 31, 2025, affected companies are subject to a reporting obligation without financial obligations.
• During this period, importers must determine and document direct and indirect emissions that occur in the course of the production process of the imported goods.
• In addition, affected EU importers are obliged to prepare a quarterly CBAM report that provides information on the imported quantity of CBAM goods, the direct and indirect embedded emissions contained therein (reporting on indirect embedded emissions is initially only for cement, electric power, and fertiliser), as well as any carbon taxes effectively paid in the country of production.
• With the start of certificate trading from January 1, 2026, importers are obliged to purchase sufficient emission allowances for imported embedded emissions during the year.

Indian Navy''s P8I Aircraft Joins Exercise Sea Dragon-24 in Guam.

• Indian Navy''s P8I aircraft landed at Guam, a US island territory in Western Pacific, to participate in Exercise Sea Dragon – 24.
• Exercise Sea Dragon-24 is an elite multinational maritime exercise that encourages professional exchanges and teamwork among participating navies.
• Participating countries: India, Japan, South Korea, Australia, and the US.
• The exercise seeks to improve skills in a variety of maritime combat domains through a number of aerial and ground-based tasks, including:
• Anti-submarine warfare (ASW): Locating and neutralising enemy submarines hiding beneath the seas.
• Surface warfare: Coordinated attacks on hostile surface vessels using superior weaponry and tactics.
• Air defence: Putting up an impenetrable air barrier to keep friendly forces safe from aerial threats.
• Search and rescue (SAR): Tracking down and saving maritime personnel in need.
• Communication and coordination: Synchronising activities across several platforms and exchanging information in a seamless manner.
• Key facts about the P8I aircraft
• It is a versatile aircraft with potent force multiplier in maritime operations. Some of its primary capabilities are:
• Long-range surveillance: The P8I can scan wide sections of ocean, identifying hostile movements and activities from long distances.
• Multi-sensor fusion: Its electronic intelligence systems, sonars, and onboard radars provide a thorough image of the maritime environment.
• Anti-submarine warfare: With its depth charges and torpedoes, the P8I poses a serious threat to enemy submarines.
• Communication relay: The aircraft can serve as an essential means of communication between various participating fleets'' forces.

Kateel Yakshagana mela to revert to all-night shows from January 14.

• A century-old Yakshagana mela in Dakshina Kannada will resume its all-night performances following approval from the Karnataka High Court.
• Kateel Yakshagana mela is a famous Yakshagana troupe started in the mid-19th century.
• The Yakshagana troupe, Kateel Sri Durgaparameshwari Yakshagaana Dashavatara Mandali, popularly known as Kateel Mela is an important ‘Harake Seva’ (hosting the Yakshagana show for God fulfilling a wish) troupe.
• It performs on request by devotees who have taken a vow (Harake) to arrange a show of Yakshagana for fulfilment of a desire or as a service.

Key facts about Yakshagana

• It is a traditional folk-dance form popular in Coastal Karnataka.
• It is a rare combination of dance, music, song, scholarly dialogues and colourful costumes.
• Traditionally, men portray all roles, including the female ones, though women are now part of Yakshagana troupes.
• A typical troupe consists of 15 to 20 actors and a Bhagawatha,who is the master of ceremonies and the main storyteller.

Elements of Yakshagana

• The Act: Each performance typically focuses on a small sub-story (known as ‘Prasanga’) from ancient Hindu epics of Ramayana or Mahabharata.
• The show consists of both stage performances by talented artists and commentary (performed by the lead singer or Bhagawatha) accompanied by traditional music.
• The Music: Musical instruments used in Yakshagana include Chande (drums), Harmonium, Maddale, Taala(mini metal clappers) and flute among others.
• The Dress: Costumes used in Yakshagana are very unique and elaborate. Large size headgear, coloured faces, elaborate costumes all over the body and musical beads on the legs (Gejje).

Over 100 active permafrost structures identified in Jhelum basin, can cause catastrophic disasters in future: Study.

• A rock glacier is a mass of rock, ice, snow, mud, and water that moves slowly down a mountain under the influence of gravity.
• Unlike an ice glacier, rock glaciers usually have very little ice visible at the surface.
• The rock glacier might consist of a mass of ice covered by rock debris, or it might consist of a mass of rock with interstitial ice.

Formation:

• Rock glaciers typically form in mountainous regions where there is a combination of permafrost, rock debris, and ice.
• One common scenario involves a pre-existing glacier that accumulates debris and rocks as it moves.
• Over time, if the glacier recedes or thaws, the debris-covered ice can transform into a rock glacier.
• These are classified as ‘active’ or ‘relict’ to indicate the status of permafrost within them, identified by the appearance of the rock surfaces.

Impacts:

• It increases the risk of glacial lake outburst floods (GLOFs).
• It may also make landslides more frequent with the land on the melting ice becoming loose.

The logic behind momentum investing.

• Many academic studies have shown that momentum investing can generate high returns that comfortably beat the benchmark indices.
• Momentum investing refers to a style of investing wherein investors purchase assets such as stocks or bonds that are consistently rising in price while selling assets whose prices are falling.
• Momentum investors buy assets with rising prices in the hope that the upward price momentum of these assets would continue, thus allowing them to sell these assets at higher prices in the future to make profits.
• It is based on the philosophy that there can be discernible trends in asset prices and that these trends tend to persist over time.
• The persistence of such trends gives investors an opportunity to recognise and participate in them early enough to make significant profits from their investments.
• Similarly, they sell assets that are falling in price expecting the fall in prices to continue for some time.
• Momentum investors generally do not conduct a deep analysis of the fundamental or intrinsic value of the assets in which they invest their money.
• They invest purely based on whether the price of an asset is showing a strong trend, either upward or downward, that they can ride on.
• The “buy high, sell higher” philosophy of momentum investing is in stark contrast to the traditional “buy low, sell high” advice given to investors.