The World Economic Forum (WEF) is holding its Annual Meeting from January 20 to 24 in Davos, Switzerland.

• The World Economic Forum (WEF) was established in 1971 by Klaus Schwab as a not-for-profit foundation, originally called the European Management Forum.
• It introduced the concept of stakeholder capitalism and engages global leaders in discussions to build more resilient, inclusive, and sustainable economies.
• In 1973, it expanded its focus to include economic and social issues, following significant global events like the collapse of the Bretton Woods system and the Arab-Israeli War.
• In 1987, it became the World Economic Forum and began offering a platform for dialogue.
• In 2015, WEF was formally recognized as an international organization.
• Key reports include the Global Competitiveness Report, Global Information Technology Report, and Global Gender Gap Report.
• The WEF has its headquarters in Geneva, Switzerland, with offices in New York, San Francisco, Beijing, and Tokyo.

Former US President Joe Biden highlighted the potential realization of the India-Middle East-Europe Economic Corridor (IMEC) following the Israel-Hamas ceasefire.

• The India-Middle East-Europe Economic Corridor (IMEC) is a connectivity project aimed at enhancing trade by creating infrastructure like ports, railways, roads, sea lines, and pipelines.
• Announced in 2023 during the G20 meeting, it involves a MoU between the European Union, India, the US, Saudi Arabia, UAE, France, Germany, and Italy.
• It consists of two corridors: an eastern corridor from India to the Arabian Gulf, and a northern corridor from the Gulf to Europe.
• The corridor will include a shipping route from Mumbai and Mundra (Gujarat) to the UAE, a rail network linking the UAE, Saudi Arabia, Jordan, and Israel, and a sea route from Haifa to Piraeus (Greece).

Recently, the US President signed an executive order renaming Denali to Mount McKinley.

• Mount McKinley, also called Denali, is the highest peak in North America.
• Location: Situated in the Alaska Range, south-central Alaska, USA, near the Denali Fault.
• Geological Origin: A massive granite block uplifted about 60 million years ago during tectonic activity.
• Height: It rises approximately 18,000 feet (5,500 meters) from the Denali Fault to its higher southern summit.
• Snow and Glaciers: The upper half is permanently snow-covered, feeding glaciers like Kahiltna, Muldrow, Peters, Ruth, and Traleika.

Denali National Park: It serves as the central feature of this park and preserve.

Archaeological Survey of India (ASI) has discovered significant Buddhist remains during renewed excavations at the historic Ratnagiri site in Jajpur district adding another chapter to its 1,200-year-old legacy.

• Ratnagiri is a significant Buddhist site located in Jajpur district, Odisha, about 100 km northeast of Bhubaneswar.
• The site is situated on a hill between the Birupa and Brahmani rivers and is part of Odisha’s Diamond Triangle, along with Udaygiri and Lalitgiri.
• The site dates back to the 5th–13th century, with peak construction during the 7th–10th centuries.
• Ratnagiri was a major center for Mahayana and Tantrayana (Vajrayana) Buddhism.
• Chinese Buddhist monk Hiuen Tsang reportedly visited Odisha in 638–639 AD, possibly documenting the site.
• The site was first documented in 1905.

Observed annually on 28 January.

• M. Cariappa, born on 28 January 1899 in Kodagu, Karnataka, was the first Commander-in-Chief of the Indian Army.
• Known for his leadership during the Indo-Pakistani War of 1947-1948, where he served as the commander of the Indian forces in Jammu and Kashmir.
• Cariappa was the first Indian officer to be appointed as the head of the Indian Army, following the transfer of power from British to Indian leadership.
• He retired in 1953 and was awarded the Padma Bhushan for his services.

Observed annually on 28 January.

• Lala Lajpat Rai was born on 28 January 1865 in Punjab and was one of the prominent leaders of India’s freedom struggle.
• Known as ‘Punjab Kesari’ or ‘Lion of Punjab’ for his courage and leadership.
• Actively involved in the Non-Cooperation Movement and Swadeshi Movement, promoting the boycott of British goods.
• He led protests against the Simon Commission, where he was injured by police brutality, leading to his death on 17 November 1928.
• Played a key role in establishing the Punjab National Bank and promoting education for Indians.
• The University of Veterinary and Animal Sciences in Hisar, Haryana is named after him.

For the 38th National Games in Uttarakhand, Kalaripayattu has been included as a demonstration event but removed from the competition section.

• Kalaripayattu is one of the most ancient martial traditions, originating in Kerala and traced to the Sangam Period.
• The term ‘Kalari’ refers to the training center, and ‘Payattu’ means the fight or rigorous physical practice.
• Two main styles of Kalaripayattu:
  • Vadakkan or Northern style, practiced in the Malabar region of Kerala.
  • Thekken or Southern style, practiced mainly in the Travancore region.

The Prime Minister congratulated the Digantara team for the success of MissionSCOT.

• Mission SCOT(Space Camera for Object Tracking) aims to enhance space situational awareness by tracking and imaging objects in Low Earth Orbit (LEO).
• Objective: To create detailed maps of space by precisely tracking satellites and space debris.

Benefits:

• Improved tracking accuracy of satellites and space debris.
• Supports India’s growing space industry in ensuring safe and sustainable space operations.

At least 4.14 lakh crop insurance claims submitted under Pradhan Mantri Fasal Bima Yojana (PMFBY) were found to be bogus by the Maharashtra Agriculture Department.

• Pradhan Mantri Fasal Bima Yojana (PMFBY) aims to provide financial support to farmers suffering from crop loss or damage, stabilize their income, and encourage modern agricultural practices.
• Ministry: Ministry of Agriculture and Farmers Welfare.
• Beneficiaries: All farmers, including sharecroppers and tenant farmers.
• Crops covered: Food crops (cereals, millets, etc.), oilseeds, and annual commercial/horticultural crops.
• Risks covered: Yield loss due to non-preventable risks (e.g., natural calamities, pests, diseases), post-harvest losses, and losses from localized calamities.

DRDO’s Defence Research and Development Laboratory (DRDL) in Hyderabad successfully conducted a 120-second ground test of an active-cooled scramjet combustor.

• The test used endothermic scramjet fuel, which improves cooling and ignition.
• Scramjet engines are air-breathing jet engines that compress incoming air using the vehicle’s forward motion, eliminating the need for a rotating compressor.
• They operate efficiently at hypersonic speeds and allow supersonic combustion.
• This breakthrough is critical for developing next-generation hypersonic missile systems.