Today in History (June 7th, 1929)
The Italian Parliament ratified the Lateran Treaty on 7th June 1929, which recognized the Vatican City as an independent State under the sovereignty of the Holy Sea. In terms of area and population, the Vatican City is the smallest State in the world. The Sistine Chapel, St. Peters Basilica, and the Vatican Museum are the world’s prominent religious and cultural buildings located in the Vatican City.
Summary of Today’s News
Fattah Hypersonic Missile
General Amir Ali Hazijadeh, the head of Iran’s Revolutionary Guard’s Aerospace, unveiled a model of a hypersonic missile named Fattah, capable of traveling at 15 times the speed of sound and a range of up to 1400 km. The moveable nozzle of the missile enables it to change trajectories in flight, making it difficult to intercept.
World Bank cuts 2023 global growth forecast.
As per the latest estimate of the World Bank, the international economy is expected to grow by 2.1% in 2023, after increasing 3.1% in 2022, due to the lingering effects of the COVID-19 pandemic, the Russia-Ukraine crisis, and high interest rates. The report projected India’s growth rate slowing to 6.3% in 2023 from 7.2% in 2022.
Internet economy to hit $1 trillion by 2030.
As per “The e-Conomy of a Billion Connected Indians” released by Google, Bain and Company, and Temasek, India’s Internet economy, such as B2C e-commerce firms, online service providers, and tech companies, will hit $1 trillion in value by 2030, up from $175 billion in 2022. Increased online transactions and the expansion of digital businesses in India will drive the growth.
20th Asian Under-20 Athletics Championships.
Sunil Kumar won the men’s decathlon gold at the 20th Asian under-20 athletics championships held at Yecheon, South Korea. Bushra Khan Gauri (3,000m steeplechase) and Pooja (High jump) bagged silver medals in the women’s section of the championship.
Varunastra
The Indian Navy tested Varunastra with a live warhead against an undersea target. It is a ship-launched anti-submarine torpedo, indigenously designed and developed by the Naval Science and Technological Laboratory of DRDO in Visakhapatnam. The Indian Navy aims to replace the older torpedoes on all naval ships capable of firing heavyweight torpedoes.
