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Dubai has adopted the first law of its kind in the emirate that regulatesvirtual assets, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.

The Dubai Virtual Asset Regulation Law is aimed at creating an advanced legal framework to protect investors and provide international standards for virtual asset Governance that will promote responsible business Growth in the emirate.

The UAE government is taking concrete steps to establish a strong digital economy and make use of the advantages provided by digital transformation.

Affirming that the union Budget astutely balancesthe requirement of development imperatives within the limits of fiscal prudence, Finance Minister Nirmala Sitharaman said the new tax regime, which offers a rebate on annual income of up to Rs 7 lakh, will leave higher disposable income in the hands of people.

Sitharaman hailed the government’s economic policies during the reply to the Budget 2023 debate in Lok Sabha and asserted despite of global slowdown India is still the fastest-growing major economy.

The government chose capex route to revive the economy as it has a great multiplier effect, she added.

The finance minister said the new tax regime announced in the Budget is “very attractive” as the tax exemption limit has been hiked to Rs 3 lakh, from Rs 2.5 lakh earlier. Besides, a standard deduction of Rs 50,000 too has been allowed under the scheme.

This new tax regime will benefit the majority of middle-class taxpayers, she said, adding that the rebate has been provided on an income of up to Rs 7 lakh.

The Indian Institute of Technology (IIT) Kanpur has developed an energy-efficient compressed air-based pipeline system for transporting coal and Minerals, offering round-the-clock monitoring with considerable in time and costs.

An energy efficient pipeline system for evacuating coal, which accounts for almost 75 per cent of Indias power consumption, will not only save transportation time, but also reduce dust pollution at the mining sites and loading points.

The system is designed to transport coal or slurry from one point to another with compressed air as its energy source. The robot travels at around 120 km an hour and can transport the loaded block to the designated receiving or unloading sub-section continuously.

The country’s first solid waste-to-hydrogenplant will be set up inPuneat a cost of over Rs 430 crore.

The plant will be set up by sustainability solutions provider The Green Billions Ltd (TGBL), who has entered into a 30-year-long agreement withPuneMunicipal Corporation (PMC).

The company will invest Rs 350 crore in setting up the plant and an additional Rs 82 crore will be spent to construct the Storage Facility and support.

The project aims to demonstrate the technological and financial feasibility of waste to hydrogen generation.

Russian state news agencies reported that India received arms worth around $13 billion from Russia in the past five years. Moreover, New Delhi has further placed orders with Moscow for weapons and military equipment exceeding $10 billion.

India accounts for around 20 percent of Moscows current order book and is the worlds biggest buyer of Russian arms. While New Delhi has not openly condemned Russias invasion of Ukraine, Indian Prime Minister Narendra Modi has called for dialogue and diplomacy to solve the conflict.

The Khelo India Games were created to bring India’s Sports culture back to life. Due to the COVID situation, the 2021 Khelo India Games have been postponed. It is now scheduled to take place in Haryana in January 2022.

Madhya Pradesh will host the Khelo India Youth Games in 2022-23. The Madhya Pradesh Cabinet finally enacted Bhopal as the host city for the games.

The cabinet also approved a 50-acre plot of land for the construction of an international sports center.

For the first phase, the Madhya Pradesh government set aside Rs 176.59 crores. The International Sports Complex will cost Rs 15.56 crore to operate and maintain.

According to an official statement, the Centre will host the first-ever Innovation Week starting Monday to bring together the country’s top startups, entrepreneurs, investors, incubators, funding entities, banks, policymakers, and others under one platform to celebrate Entrepreneurship and promote innovation, as well as to showcase the entrepreneurship across India.

According to a statement from the Commerce and Industry Ministry, the Department for Promotion of Industry and Internal Trade (DPIIT) is hosting a virtual week-long innovation celebration from January 10 to 16, which also aims to commemorate India’s 75th year of independence and is designed to showcase the spread and depth of entrepreneurship across the country.

In the startup sector, 2021 has been dubbed the “Year of Unicorns,” with more than 40 unicorns expected to be added during the year.

David Card, Joshua Angrist and Guido Imbens won the 2021 Nobel Prize for Economic Sciences.

Highlights:

David Card, Joshua Angrist and Guido Imbens won the Nobel Prize for their methodological contributions to the analysis of causal relationships.

These have provided us with new insights about the labour market and shown what conclusions about cause and effect can be drawn from natural experiments.

This might help with pharmaceutical research and making chemistry greener.

The Nobel Prize for Economic Sciences was shared into equal parts for laureates.

Their strategy has spread to other fields and revolutionised empirical research

In 1968, Sweden’s central Bank established the Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize.

David Julius and Ardem Patapoutian, American Scientists, won the 2021 Nobel Prize for Medicine on 4 October.

Highlights:

David Julius and Ardem Patapoutian won the Nobel Prize for their discoveries of temperature and touch receptors.

These discoveries could help create new painkillers and allows us to understand how heat, cold and mechanical force initiate the nerve impulses.

This might help in the development of treatments for several diseases and conditions.

The Nobel Prize for medicine was shared into equal parts for laureates.

There were also recommendations for COVID 19 Vaccines developers to be rewarded with Nobel Prizes.

Syukuro Manabe, Klaus Hasselmann won the 2021 Nobel Prize for Physics, and Giorgio Parisi won.

Highlights:

Syukuro Manabe, Klaus Hasselmann, and Giorgio Parisi won the Nobel Prize for their contributions to our understanding of complex physical systems.

Syukuro Manabe from Princeton University, USA and Klaus Hasselmann from Max Planck Institute for Meteorology, Hamburg, Germany were awarded for the physical modelling of Earth’s Climate, quantifying variability and reliably predicting “.

Giorgio Parisi from Sapienza University of Rome, Italy, was awarded for discovering the interaction of disorder and variations in physical systems from atomic to planetary scales.