The US Food and Drug Administration (USFDA) has granted fast-track approval to a medicine for Alzheimer’s Disease called Lecanemab (also known as Leqembi). The medicine exhibited promising results in its initial tests, demonstrating a reduction in the deposition of amyloid beta proteins within the brain – a classic sign of the disease – in mild cases. Alzheimer’s Disease is a neurological disorder that induces brain cells to degenerate and die, leading to memory loss, problems with speaking and writing skills, poor judgement, changes in mood, and personality, confusion regarding time or place, among other symptoms. It is the most common cause of dementia in older adults.
Latest Developments on Alzheimer’s Treatment
Scientists have discovered a novel way to combat Alzheimer’s disease with the development of Lecanemab (Leqembi). This medicine exhibits potential in reducing the Amyloid beta protein deposits in the brain, a typical characteristic of the disease. Initial tests indicate its effectiveness in treating Alzheimer’s disease, especially in mild conditions.
Significant Decline in India’s Forex Reserves
India witnessed a drastic reduction in its forex reserves by $70 billion in 2022, following three consecutive years of increase. This decline is predominantly due to rising inflation rates and interest rates. Around 55-60% of the total loss can be attributed to the decrease in value of other foreign currencies held in reserve against the USD (€, £, ¥). Recent withdrawals by the Foreign Portfolio Investors also contributed significantly to this decline.
Impact on Import Capability
Due to the drop in forex reserves, India’s ability to cover imports through these reserves has also declined- from being able to cover 13 months’ worth of imports in 2021-22 to only 9.2 months’ worth in 2022-23. Despite these challenges, holding forex reserves remains crucial for averting Balance of Payment crises and maintaining economic and financial stability in disordered market conditions.
Introduction of the Young Professionals Scheme
During the 17th Pravasi Bharatiya Divas, India and the UK agreed to launch the Young Professionals Scheme (YPS). This agreement allows up to 3,000 degree-holding citizens aged between 18-30 from both countries to reside and work in the other country for two years. The scheme is expected to be initiated by March 2023 and will run initially for three years.
Recent Eruptions of Kilauea Volcano
Hawaii’s Kilauea, one of the most active volcanoes on earth, has recently erupted again, following a brief pause. The recent eruption started in January 2022 after its last activity in September 2021. The US Geological Service (USGS) has issued warnings to locals about potentially dangerous volcanic fumes containing sulphur dioxide and Pele’s hair, which are tiny strands of drifting lava.
Volcanic Activity in Hawaii
In addition to Kilauea, Mauna Loa, another volcano in Hawaii, also erupted for the first time in 38 years in November-December 2022. These volcanic eruptions bear significant cultural and spiritual implications for the native Hawaiians. The eruption in 2018 was devastating, destroying 700 homes and sending rivers of lava across farms and finally into the ocean.
