Economy & Finance
The **US Federal Reserve** announced its third interest rate cut of the year, reducing the benchmark rate by a quarter point to a target range of 3.5%-3.75%. This decision, made with a split 9-3 vote, comes amid economic challenges including tariffs, immigration crackdowns, and job losses, despite an optimistic assessment from President Trump. Meanwhile, the **Asian Development Bank (ADB)** has raised India's growth forecast for the fiscal year 2026 to 7.2% from an earlier 6.5%. Discussions continue regarding the sustainability of India's growth rate, with experts highlighting both positive indicators like sectoral momentum and consumption demand, and concerns such as an outdated accounting base and uneven sectoral recovery. In other economic news, the US plans to impose tariffs on **Nicaraguan goods** starting in 2026, citing alleged human rights violations. The US is also reportedly investing over $1.25 billion in Pakistan's Reko Diq copper-gold mine project.
Science & Technology
**Artificial Intelligence (AI)** has taken center stage, with TIME magazine naming the "Architects of AI" as its Person of the Year for 2025, acknowledging AI's profound and transformative impact. A new report highlights machine learning's global scientific influence, with China leading in publication volume and the US in the adoption of AI tools, while India and Saudi Arabia are emerging as significant players in AI-enabled research. In the realm of healthcare technology, Accenture has invested in Ryght AI to leverage agentic AI for clinical research, aiming to accelerate drug development. The **European Union** has also approved a comprehensive framework to regulate artificial intelligence, emphasizing transparency, ethical use, and data protection. India is advancing its technological initiatives with the launch of the 'Jal Shakti Hackathon-2025' and 'Bharat-Water Innovation Network (WIN) Portal' to foster innovation for a sustainable water future. The **Indian Space Research Organisation (ISRO)** successfully tested the Gaganyaan crew escape module, a critical milestone for India's human spaceflight mission. Furthermore, Brazil and China have begun a joint project to build a space technology laboratory.
International Relations & Politics
Geopolitical tensions remain high globally. **US President Donald Trump** issued threats to Colombian President Gustavo Petro regarding drug production, following similar warnings to Venezuelan President Nicolás Maduro. The US is also reportedly urging Ukraine to consider withdrawing from Donbas to create a "free economic zone," with the understanding that Russian forces would remain but not advance further. Leaders from France, Germany, and the UK (E3) engaged in discussions with President Trump regarding a US-led peace plan for the **Russia-Ukraine war**. The US Ambassador to the UN, Mike Waltz, indicated upcoming announcements concerning President Trump's ceasefire plan in **Gaza**. In a significant move, **EU governments** have agreed to indefinitely freeze Russian central bank assets held within the bloc, paving the way for their potential use to aid Ukraine. On the domestic front, **Bulgarian Prime Minister Zhelyazkov** resigned following weeks of public protests over economic policies and alleged corruption. Greece's Finance Minister, Kyriakos Pierrakakis, was elected as the new president of the Eurogroup. Five European nations, including Iceland, Spain, and the Netherlands, announced a boycott of the 2026 Eurovision Song Contest in protest of Israel's participation. Italy's Deputy Prime Minister and Minister of Foreign Affairs, Antonio Tajani, visited India to enhance bilateral cooperation across various sectors, including trade, defense, and counter-terrorism.
Social Welfare & Culture
**UNESCO** has officially recognized Deepavali as an Intangible Cultural Heritage and has also added Pakistan's Boreendo vessel-flute to its list of Intangible Cultural Heritage in urgent need of safeguarding. In India, the National Convention on Health Rights reiterated the demand for healthcare as a fundamental right. The Indian government launched a National Road-Safety Digital Dashboard to improve road safety and reduce fatalities. Globally, concerns about **climate change** are escalating, with the UN reporting record-breaking temperatures and advocating for accelerated climate-adaptation strategies.
Sports (Non-Cricket)
In sports, the **Indian men's hockey team** has advanced to the semifinals of the FIH World League after a strong performance against Germany. In badminton, **PV Sindhu** reached the quarterfinals of the BWF World Tour Finals. The **Pro Kabaddi League** saw U Mumba clinch a last-minute victory in a thrilling match. **FIFA** has confirmed venue upgrades across the U.S., Mexico, and Canada for the 2026 World Cup. In motorsports, **Lando Norris** secured the Formula One World Drivers' Championship. The AFCON 2025 Finals are scheduled to take place in Morocco from December 21, 2025, to January 18, 2026.