Why is it in news?

Britain government said wholesale prices for electricity would be capped at 211 pounds ($239.17) per megawatt hour (MWh) and for gas at 75 pounds per MWh.

Highlights

·        Britain said it would cap the cost of electricity and gas for businesses on Wednesday following a similar scheme for consumers, helping relieve the pressure of soaring energy costs.

·        It said wholesale prices for electricity would be capped at 211 pounds ($239.17) per megawatt hour (MWh) and for gas at 75 pounds per MWh.

·        The government will compensate suppliers for the reduction in wholesale gas and electricity unit prices that they are passing onto non-domestic customers, it said.

Why is it in news?

Armenia-Azerbaijan Conflict: Armenia and Azerbaijan agreed to a ceasefire last week, ending two days of violence linked to a decades-old dispute between the former Soviet states over the territory of Nagorno-Karabakh.

Highlights

·        US Secretary of State Antony Blinken met with the foreign ministers of Armenia and Azerbaijan in New York on Monday, marking the first direct talks between the two sides since deadly border clashes this month, the State Department said.

·        Armenia and Azerbaijan agreed to a ceasefire last week, ending two days of violence linked to a decades-old dispute between the former Soviet states over the territory of Nagorno-Karabakh.

·        The fighting, which each side blamed on the other, left more than 170 soldiers dead and threatened to drag Turkey, Azerbaijan's key backer, and Armenia ally Russia into a wider conflict at a time of already high geopolitical tensions.

·        Convening Armenia's Ararat Mirzoyan and Azerbaijan's Jeyhun Bayramov on the sidelines of the United Nations General Assembly, Blinken emphasized the need to prevent further fighting and return to the peace process, State Department spokesperson Ned Price said in a statement.

·        "They discussed next steps, and the Secretary encouraged the sides to meet again before the end of the month," Price said.

·        Speaking before hosting the foreign ministers on Monday, Blinken said Washington was "encouraged by the fact that the fighting has ceased and there have not been any additional military actions over (the) last few days."

·        The fighting, from Sept. 12-14, was the deadliest since a six-week war in 2020 that left thousands dead and saw Azerbaijan made significant territorial gains in and around Nagorno-Karabakh.

Why is it in news?

Former Comptroller and Auditor General Rajiv Mehrishi, former Infosys Foundation chairperson Sudha Murthy and Teach for India co-founder Anand Shah have been nominated into the advisory board of the Fund.

Highlights

·        Prime Minister Narendra Modi with veteran industrialist Ratan Tata.

·        Eminent personalities, including industrialist and TATA Sons chairman emeritus Ratan Tata, former Supreme Court judge KT Thomas, and former deputy Lok Sabha speaker Kariya Munda have been nominated as trustees of the PM CARES Fund, the government said in an official statement on Wednesday.

·        The announcement came a day after Prime Minister Narendra Modi chaired the board of trustees meeting that was attended by the newly appointed members, along with Union home minister Amit Shah and finance minister Nirmala Sitharman.

·        “Prime Minister welcomed the trustees for becoming an integral part of the PM CARES Fund,” the Prime Minister’s Office said in a statement. Sitharaman and Shah are the other trustees.

·        Former Comptroller and Auditor General Rajiv Mehrishi, former Infosys Foundation chairperson Sudha Murthy and Teach for India co-founder Anand Shah have been nominated into the advisory board of the Fund.

·        “Prime Minister said that participation of new trustees and advisors will provide wider perspectives to the functioning of the PM CARES Fund,” the statement said.

·        The trustees acknowledged the contribution made by the fund during crucial times, including the PM CARES for Children scheme that supports 4,345 kids.

·        “It was discussed that PM CARES has a larger vision on effectively responding to emergency and distress situations, not only through relief assistance, but also taking mitigation measures and capacity building,” it added.

·        The PM CARES Fund was created as part of emergency relief measures during the Covid-19 pandemic that broke out in 2020. The Prime Minister is the ex-officio chairperson and all contributions are fully exempt from income tax.

·        Among its initiatives are the PM CARES for Children, launched on May 29 last year to support children who lost both their parents, legal guardians, adoptive parents or surviving parents to the Covid-19 outbreak between 11 March 2020 and 28 February 2022.