Current Affairs - International

Indonesia, under President Joko Widodo's leadership, officially launched the 'Whoosh' high-speed railway project, making it Southeast Asia's first high-speed railway. This project is primarily financed by China and is part of the Belt and Road Initiative.

Argentina's Congress has approved a bill that would abolish income tax. The bill is now expected to be approved by the Senate, which is also controlled by the Peronists. The bill would eliminate income tax for all Argentines, regardless of their income level. It would also eliminate taxes on capital gains and dividends. The government argues that the bill will help to boost economic growth and create jobs.

The inflation rate in the Eurozone fell to 4.3% in September, from 5.2% in August. This is the lowest level of inflation in the Eurozone since October 2021. The ECB is expected to continue raising interest rates to bring inflation back to its target level of 2%.

Russia intends to increase its defence spending by approximately 70% in 2024, reflecting its commitment to military efforts, particularly in the context of the ongoing Ukraine conflict.

The Five Eyes Intelligence Alliance consists of the US, UK, Canada, Australia, and New Zealand, and it was formed to share intelligence and address security concerns.