Uzbekistan Current Affairs - 2019

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India to host 19th Council of Heads of Governments of SCO in 2020

India will be hosting  the 19th Council of Heads of Government of the Shanghai Cooperation Organisation in 2020. This was informed by SCO Secretary General Vladimir Norov. This will be for the first time that India will host the high level meeting of the China-led eight-member economic and security bloc.

About SCO

Shanghai Cooperation Organisation (SCO) aka Shanghai Pact was created in 2001 in Shanghai by China. Apart from China, its founding members were Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. India and Pakistan were admitted as full members in 2017. At present, SCO has four observer States viz.  Afghanistan, Belarus, Iran and Mongolia; and has six dialogue partners viz. Azerbaijan, Armenia, Cambodia, Nepal, Turkey and Sri Lanka. It is also known as Alliance of the East. In terms of geographical coverage and population, it is world’s largest regional organization.

SCO summits

SCO holds two types of summits every year viz. Summit of Heads of States and Summits Heads of Governments. These summits are organized in member states. The latest Summit of heads of government was held in Tashkent in November 2019. It was proposed in Tashkent Summit that India would take the initiative to hold the 2020 meetings of the Heads of Government.

Worldwide Cost of Living Survey 2019 by Economist Intelligence Unit

The Economist Intelligence Unit has released the report of the Worldwide Cost of Living Survey 2019.

Findings of the Survey

  • For the first time in its 30-year history, three cities have been accorded the title of the world’s most expensive city in the Worldwide Cost of Living Survey from The Economist Intelligence Unit.
  • Singapore which top’s of the rankings for the sixth consecutive year is joined there by Hong Kong and Paris.
  • Zurich in Switzerland stood at the fourth position followed by Japan’s Osaka which shared fifth place with Geneva, also in Switzerland.
  • Seoul (South Korea), Copenhagen (Denmark) and New York (US) were jointly placed at the seventh spot.
  • Los Angeles (US) along with Israel’s Tel Aviv was named the 10th most expensive city in the world.
  • The cost of living in Chinese cities remains relatively stable, while Southeast Asian destinations were moving up the ranks.
  • Weaker local currencies have pushed all five Australian and two New Zealand cities surveyed down in the ranking.
  • While parts of Asia remain the most expensive places on Earth, Asian Cities also makes several appearances at the bottom of the list.
  • World’s cheapest cities include Caracas (Venezuela), Damascus (Syria), Tashkent (Uzbekistan), Almaty (Kazakhstan), Karachi (Pakistan), Lagos (Nigeria), Buenos Aires (Argentina) as well as the three Indian cities of Bengaluru, Chennai and Delhi.

 

The Survey compares more than 400 individual prices across 160 products and services in cities around the world by keeping New York as the benchmark city.