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Nobel Prize in Economics awarded to Claudia Goldin for advancing understanding of women’s labour market outcomes

Claudia Goldin provided the first comprehensive account of women’s earnings and labour market participation through the centuries.

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Claudia Goldin

The Nobel Prize in Economics has been awarded to American economic historian Claudia Goldin for having advanced understanding of women’s labour market outcomes, the Royal Swedish Academy of Sciences said on Monday.

The prestigious award, previously known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the last of this year’s crop of Nobel prizes and is worth 11 million Swedish crowns, approximately $999,137.

In a tweet, the academy mentioned that Claudia Goldin provided the first comprehensive account of women’s earnings and labour market participation through the centuries. Goldin’s research revealed the causes of change and the main sources of the remaining gender gap.

It added that women are vastly underrepresented in the global labour market and, when they work, they earn less than men. Goldin trawled the archives and collected more than 200 years of data, allowing her to demonstrate how and why gender differences in earnings and employment rates have changed.

Claudia Goldin further showed that female participation in the labour market did not have an upward trend over a 200 year period, but instead formed a U-shaped curve. The participation of married women decreased with the transition from an agrarian to an industrial society in the early nineteenth century, but then started to increase with the growth of the service sector in the early twentieth century. Goldin explained this pattern is the result of structural change and evolving social norms regarding women’s responsibilities for home and family.

The first economics prize was awarded in 1969 and the past winners include a host of influential thinkers and academics such Friedrich August von Hayek, Milton Friedman and, more recently, U.S. economist Paul Krugman.

Previous year, a trio of US economists including former Federal Reserve Chair Ben Bernanke won for their research on how regulating banks and propping up failing lenders with public cash can stave off an even deeper economic crisis, citing the example of the Great Depression of the 1930s.

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Nawaz Sharif, Bilawal Bhutto’s parties strike deal on Pakistan coalition Govt, Shehbaz Sharif to be PM

The PPP co-chairman Asif Zardari, 68, is set to assume the role of the President of Pakistan again.

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Nawaz Sharif’s Pakistan Muslim League-Nawaz (PML-N) and Bilawal Bhutto-Zardari’s Pakistan Peoples Party (PPP) have agreed on a power-sharing deal to form a new coalition government after days of intense negotiations, as per the senior party leaders.

On Tuesday night, in a joint conference, the PPP Chairman Bhutto announced that PML-N president, 72-year-old Shehbaz Sharif will be the Prime Minister of Pakistan once again and the PPP co-chairman Asif Zardari, 68, is set to assume the role of the President of Pakistan again.

Speaking to reports, Bhutto said the PPP and PML-N have achieved the required number, and now they were in a position to form the government.

He said the former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party-backed candidates and Sunni Ittehad Council (SIC) could not achieve a simple majority in Parliament to form government in the Centre.

Bilawal hoped that the political alliance with PML-N to form a coalition government would result in a positive market response since the cash-strapped country faced a hung Parliament after the February 8 elections.

Independent candidates, who were supported by the 71-year-old Khan’s Pakistan Tehreek-e-Insaf party, managed to secure 93 seats in the National Assembly.

Shehbaz Sharif, in his speech, expressed confidence that his PML-N party, along with the PPP, now has the necessary numbers to form the next government. He also thanked the leadership of both parties for successfully concluding the talks.

According to the reports, the former prime minister highlighted the unity between the two political parties and their strong position to form the government at the Centre.

The PML-N secured 75 seats in the election, while the PPP came in third with 54 seats. Additionally, the Muttahida Qaumi Movement Pakistan (MQM-P) has agreed to support the two parties with their 17 seats.

To form a government, a party must win 133 out of 265 contested seats in the 266-member National Assembly or the lower house of Parliament.

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Poland Minister Wladyslaw T Bartoszewski says India is a superpower, should play role in World affairs

The Polish Minister said it is time to take the relations between the the two countries to a higher level. He said India has developed into a phenomenal country and is the 5th largest economy in the world. The minister said the Polish economy has also developed and both the countries have much more to offer each other.

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Secretary of state at the Foreign Affairs Ministry of Poland Wladyslaw T. Bartoszewski on Monday said that India should play a bigger role in global politics. He said India is a superpower now and hence India should play a role that fits superpower at the global scale. He said the relations between Poland and India have been extremely good. He said they have not had any problems.

The Polish Minister said it is time to take the relations between the the two countries to a higher level. He said India has developed into a phenomenal country and is the 5th largest economy in the world. The minister said the Polish economy has also developed and both the countries have much more to offer each other.

He said the Polish government wants India to play a more active role in World Politics. He said India is the largest democracy in the world and shares values with Poland as to how the world should be organised. The Polish Minister said he is looking to partner with India. He said Poland is looking at potentially creating the India-Central Eastern European Forum to discuss amongst a few countries.

He said there are a lot of topics and Poland wants to partner with India to play its role in the world affairs. Bartoszewski highlighted the remarkable economic growth India has made under the leadership of Prime Minister Narendra Modi. He said Warsaw would like to work in closer co-operation with New Delhi. India and Poland share strong bilateral ties.

After the Ukraine war began, Poland helped in India’s Operation Ganga by aiding in the evacuation of Indian students from the war struck country in 2022.The Polish minister commented on the Russia-Ukraine war which has been going on since the last two years. He said the war will end if immediately if Russian President Vladimir Putin withdraws his forces from neighbouring Ukraine.

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71st Miss World contestants visit Raj Ghat and pay respects to Mahatma Gandhi

The 71st Miss World will take place between February 18 and March 9 which will unfold across various venues, including the Bharat Manadapam in New Delhi. 120 contestants from countries around the world will participate in various competitions and charitable initiatives, serving as ambassadors of change.

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Miss World contestants, accompanied by Julia Morley, chairman and CEO of the Miss world Organisation, visited the Raj Ghat, also known as the Gandhi memorial, on Monday, where they paid their respects to Mahatma Gandhi. The 71st Miss World participants also visited the Gandhi Museum.

The 71st Miss World will take place between February 18 and March 9 which will unfold across various venues, including the Bharat Manadapam in New Delhi. 120 contestants from countries around the world will participate in various competitions and charitable initiatives, serving as ambassadors of change.

Julia Morley, chairman and CEO of the Miss World Organisation said in a statement that her love of India is no secret and having the 71st Miss World Festival in this country means a lot to her. She thanked Jamil Saidi for his herculean efforts to make the return of the event to India a reality. She said the Miss World Organization has assembled the best team for the 71st edition.

The 71st Miss World will end with a dazzling grand finale at the Jio World Convention Centre in Mumbai. India last hosted the international pageant in 1996. Manushi Chhillar was the most recent Indian to win the pageant, having bagged the crown in 2017. Previously, Reita Faria Powell, Aishwarya Rai, Diana Hayden, Yukta Mookhey, and Priyanka Chopra Jonas have also won the competition.

India is currently hosting Miss World 2024 in Delhi and Mumbai after 28 years. The competition will begin on  Februray 18, with the grand finale scheduled  on March 9, the 71st Miss World Pageant will feature 120 contestants from 120 countries and territories, which includes India and will feature various competitions and charitable initiatives. The 21-day fashion and beauty event will feature a variety of events that will empower young women as change agents and future leaders.  

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