{"id":61973,"date":"2025-12-17T18:21:22","date_gmt":"2025-12-17T12:51:22","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=61973"},"modified":"2025-12-17T19:14:01","modified_gmt":"2025-12-17T13:44:01","slug":"news-in-short-17-12-2025","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/17-12-2025\/news-in-short-17-12-2025","title":{"rendered":"News In Short 17-12-2025"},"content":{"rendered":"\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>Gulf of Oman<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS2\/ International Relation; GS1\/ Places<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In News<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Iran seizes foreign oil tanker carrying 6 million litres of smuggled Diesel in the Gulf<strong> of Oman.<\/strong><\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-dominant-color=\"d8cbad\" data-has-transparency=\"false\" style=\"--dominant-color: #d8cbad;\" loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"168\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/12\/image-105.png\" alt=\"gulf of oman\" class=\"not-transparent wp-image-61975\"\/><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>About Gulf of Oman<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Gulf of Oman is the north-western arm of the Arabian Sea.<\/li>\n\n\n\n<li>It forms a vital maritime corridor connecting the Indian Ocean with the Persian Gulf through the <strong>Strait of Hormuz.<\/strong><\/li>\n\n\n\n<li>Through the Strait of Hormuz, it provides access to the <strong>Persian Gulf, making it vital for global oil and LNG trade.<\/strong><\/li>\n<\/ul>\n\n\n\n<p><strong>Source: TH<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>PM Modi Received Ethiopia\u2019s Highest Civilian Honour<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS2\/ International Relation<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Context<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PM Modi was conferred with Ethiopia&#8217;s highest award, <strong>&#8216;The Great Honour Nishan of Ethiopia&#8217;<\/strong>, by his Ethiopian counterpart Abiy Ahmed Ali.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About Ethiopia<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Location: <\/strong>Ethiopia is a landlocked country located in the <strong>Horn of Africa.<\/strong>\n<ul class=\"wp-block-list\">\n<li>It shares borders with <strong>Eritrea, Djibouti, Somalia, Kenya, South Sudan, and Sudan.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-dominant-color=\"c38277\" data-has-transparency=\"false\" style=\"--dominant-color: #c38277;\" loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"168\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/12\/image-104.png\" alt=\"ethiopia\" class=\"not-transparent wp-image-61974\"\/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Geography:<\/strong> The country has diverse topography, including the <strong>Ethiopian Highlands<\/strong>, the <strong>Great Rift Valley,<\/strong> and the <strong>Danakil Depression<\/strong> (one of the hottest places on Earth).\n<ul class=\"wp-block-list\">\n<li><strong>The Blue Nile <\/strong>originates from <strong>Lake Tana in Ethiopia<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Demography: <\/strong>Ethiopia is the <strong>second-most populous country<\/strong> in Africa.<\/li>\n\n\n\n<li><strong>Cultural Significance:<\/strong> Ethiopia has its <strong>own calendar,<\/strong> which is seven years and around three months behind the Gregorian calendar.\n<ul class=\"wp-block-list\">\n<li>Ethiopia is widely recognised as the <strong>birthplace of coffee.<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Archaeological Importance: <\/strong>It is the <strong>Cradle of Humankind<\/strong>, with some of the oldest hominid fossils discovered here.\n<ul class=\"wp-block-list\">\n<li><strong>\u201cLucy\u201d (Dinkinesh)<\/strong>, a 3.2-million-year-old hominid fossil, was found in Ethiopia.<\/li>\n\n\n\n<li><strong>\u201cArdi\u201d<\/strong>, a 4.4-million-year-old early hominid skeleton, was also discovered in the country.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/ddnews.gov.in\/en\/senior-leaders-congratulate-pm-modi-on-receiving-ethiopias-highest-civilian-honour\/\" target=\"_blank\" rel=\"noopener\"><strong>DD News<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>ASPIRE Scheme<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS2\/ Welfare Scheme<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In News<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Ministry of Micro, Small and Medium Enterprises (MSME) is implementing the <strong>ASPIRE scheme<\/strong> to promote entrepreneurship and livelihood opportunities in rural areas.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About the Scheme<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Launch: <\/strong>In 2015 by the Ministry of Micro, Small and Medium Enterprises.<\/li>\n\n\n\n<li><strong>Aim:<\/strong> To create an enabling ecosystem for job creation through skill development, incubation and support to micro-enterprises.\n<ul class=\"wp-block-list\">\n<li>As of now, 109 Livelihood Business Incubators (LBIs) have been approved across the country.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Key Components:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Livelihood Business Incubators (LBIs):<\/strong> Support agro-based ventures with grants up to \u20b975 lakh (private) or \u20b91 crore (government institutions) for training in food processing, handicrafts, and rural trades.\u200b<\/li>\n\n\n\n<li><strong>Technology Business Incubators (TBIs):<\/strong> Focus on tech-driven rural innovation with similar funding.<\/li>\n\n\n\n<li><strong>Fund of Funds:<\/strong> Managed by SIDBI with \u20b9200 crore corpus to back startups in agro-rural sectors.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Do you Know?<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Vendor Development Programmes <\/strong>for SC\/ST and women entrepreneurs are being organised under the Public Procurement Policy for MSMEs.&nbsp;<\/li>\n\n\n\n<li>The <strong>\u2018Yashasvini Campaign\u2019<\/strong> was launched in June 2024 to empower women entrepreneurs through awareness on formalisation, access to credit, capacity building and mentorship.<\/li>\n\n\n\n<li>The ministry is also implementing the <strong>Prime Minister\u2019s Employment Generation Programme (PMEGP)<\/strong>, a credit-linked subsidy scheme to generate self-employment opportunities through micro-enterprises.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/ddnews.gov.in\/en\/govt-implements-aspire-scheme-to-boost-rural-entrepreneurship-over-1-16-lakh-beneficiaries-trained\/\" target=\"_blank\" rel=\"noopener\"><strong>DD News<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>Trade Deficit<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS3\/Economy<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Context<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India\u2019s <strong>trade deficit <\/strong>dropped by <strong>more than 61% in November 2025 to $6.6 billion,<\/strong> due to<strong> strong growth in merchandise exports<\/strong> and a <strong>fall in merchandise imports.<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Trade Deficit<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Definition: <\/strong>A trade deficit occurs when the value of a country\u2019s imports exceeds the value of its exports during a given period, leading to a negative Balance of Trade (BoT).\n<ul class=\"wp-block-list\">\n<li>Balance of Trade (BoT) = Total Exports \u2212 Total Imports<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Types of Trade Deficit:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Merchandise (Goods) Trade Deficit:<\/strong> Difference between exports and imports of physical goods.<\/li>\n\n\n\n<li><strong>Services Trade Deficit \/ Surplus:<\/strong> Difference between services exports (IT, tourism, finance) and services imports. India typically runs a services surplus.<\/li>\n\n\n\n<li><strong>Bilateral Trade Deficit:<\/strong> Trade deficit with a specific country (e.g., India\u2013China trade deficit)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Indicator of net external demand: <\/strong>Shows whether a country is a net importer or exporter in global trade.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img data-dominant-color=\"d9d9da\" data-has-transparency=\"false\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/12\/image-106-1024x559.png\" alt=\"trade deficit\" class=\"not-transparent wp-image-61983\" style=\"--dominant-color: #d9d9da; aspect-ratio:1.8318737860769414;width:397px;height:auto\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/12\/image-106-1024x559.png 1024w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/12\/image-106-300x164.png 300w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/12\/image-106-768x419.png 768w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/12\/image-106-1536x838.png 1536w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/12\/image-106.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/business\/Industry\/trade-deficit-falls-61-in-nov-2025-to-66-billion-on-surging-merchandise-exports\/article70398808.ece\" target=\"_blank\" rel=\"noopener\"><strong>TH<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>Commodity Derivatives<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS3\/ Economy<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Context<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A panel set up by Securities and Exchange Board of India (SEBI) will recommend easing curbs on commodity derivatives and suggest steps to make it more attractive to institutional investors in a final report to be submitted early next year.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is a Commodity Derivative Market?<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The commodity derivatives market deals in financial contracts whose <strong>value is derived from underlying physical commodities<\/strong> such as crude oil, gold, silver, wheat, natural gas, copper, and aluminium.<\/li>\n\n\n\n<li>These contracts enable participants to<strong> buy or sell a commodity at a predetermined price on a future date<\/strong>, without necessarily engaging in physical delivery.<\/li>\n\n\n\n<li><strong>The market serves two core functions;<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Hedging Price Risk: <\/strong>Producers hedge against price falls by locking in future selling prices and consumers hedge against price rises by fixing future purchase prices.<\/li>\n\n\n\n<li><strong>Speculation:<\/strong> Traders take positions based on anticipated price movements to earn profits. Speculative activity enhances market liquidity and efficiency.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Types of Commodity Derivatives<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Futures Contracts: <\/strong>A futures contract is a standardized agreement between two parties to <strong>buy or sell an asset at a specific future date<\/strong> for a predetermined price.\n<ul class=\"wp-block-list\">\n<li>Both buyer and seller are obligated to execute the contract on the specified future date.<\/li>\n\n\n\n<li>Investors pay only a margin (a fraction of the total value) upfront, not the full cost of the underlying asset.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Options Contracts: <\/strong>An options contract <strong>gives the buyer the right, but not the obligation<\/strong>, to buy (call option) or sell (put option) an asset at a pre-set price before or on the contract&#8217;s expiration date.\n<ul class=\"wp-block-list\">\n<li>The buyer of the option has the flexibility to exercise the contract if it benefits them, or let it expire if not.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The<strong> buyer pays a premium<\/strong> for this right.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Forwards Contracts: <\/strong>Forward contracts are privately negotiated agreements between two parties to buy or sell a commodity at a future date at an agreed price.\n<ul class=\"wp-block-list\">\n<li>These contracts are not traded on exchanges and are customised in terms of quantity, quality, and delivery conditions.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Swaps:<\/strong> Commodity swaps involve the exchange of cash flows between two parties based on commodity price movements.\n<ul class=\"wp-block-list\">\n<li>They allow participants to hedge long-term price exposure without owning the physical commodity.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.business-standard.com\/amp\/markets\/commodities\/sebi-panel-to-propose-easing-curbs-on-commodity-derivatives-next-year-125121600299_1.html\" target=\"_blank\" rel=\"noopener\"><strong>BS<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>Jumping Genes<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS3\/ Science &amp; Technology<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In News<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Polar bears in Southern Greenland show rapid genetic changes linked to jumping genes that may help them survive warming Arctic conditions.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About Jumping Genes<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Jumping genes, scientifically called Transposable Elements (TEs), are DNA sequences that can move (transpose) from one location to another within the genome.<\/li>\n\n\n\n<li>They were discovered by <strong>Barbara McClintock in maize (corn<\/strong>), for which she received the Nobel Prize (1983).<\/li>\n\n\n\n<li>In humans, they constitute 45% of the genome.<\/li>\n\n\n\n<li>Once considered \u201cjunk DNA,\u201d now known to have regulatory and evolutionary roles.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.moneycontrol.com\/science\/polar-bears-are-using-jumping-genes-to-survive-melting-ice-in-southern-greenland-article-13729315.html\/amp\" target=\"_blank\" rel=\"noopener\"><strong>Money Control<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>AH-64E Apache Attack Helicopters<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS3\/Defence<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Context<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Indian Army received the <strong>final batch of three AH-64E Apache attack helicopters.<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Apaches were contracted in <strong>2020 under a $600 million deal <\/strong>with the <strong>United States.&nbsp;<\/strong><\/li>\n\n\n\n<li>The AH-64E Apache is regarded as the<strong> world\u2019s most advanced multi-role combat helicopter.<\/strong>\n<ul class=\"wp-block-list\">\n<li>It is equipped with cutting-edge avionics, sensors and weapon systems, and capable of operating in all weather and terrain conditions.&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/news\/national\/indian-army-receives-final-batch-apache-helicopters\/article70403334.ece\" target=\"_blank\" rel=\"noopener\"><strong>TH<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>In News<\/strong><\/p>\n<li class=\"ms-5\">Iran seizes foreign oil tanker carrying 6 million litres of smuggled Diesel in the Gulf of Oman.<\/li>\n<p><\/p>\n<p><strong>About Gulf of Oman<\/strong><\/p>\n<li class=\"ms-5\">The Gulf of Oman is the north-western arm of the Arabian Sea.<\/li>\n<li class=\"ms-5\">It forms a vital maritime corridor connecting the Indian Ocean with the Persian Gulf through the Strait of Hormuz.<\/li>\n<li class=\"ms-5\">Through the Strait of Hormuz, it provides access to the Persian Gulf, making it vital for global oil and LNG trade.<\/li>\n<p><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/17-12-2025\/news-in-short-17-12-2025\" class=\"btn btn-primary btn-sm float-end\">Read More<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-61973","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/61973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=61973"}],"version-history":[{"count":8,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/61973\/revisions"}],"predecessor-version":[{"id":61998,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/61973\/revisions\/61998"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=61973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=61973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=61973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}