Good morning!5 THINGS FIRSTIndian & Nepalese PMs to jointly inaugurate integrated check post; Annual World Economic Forum meet begins in Davos, Switzerland; US senate to begin impeachment trial against Trump; Supreme Court to hear cryptocurrency case; Foreign minister S Jaishankar to travel to Niger, Tunisia 1. Economic inequality's OUT OF CONTROL!!!1. Economic inequality's OUT OF CONTROL!!!The world's billionaires have doubled in the past decade and are richer than 60% of the global population. Repeat. In 2019, the world's billionaires — numbering 2,153 — had more wealth between them than 4.6 billion people. Narrowing it further: The world's richest 1% have more than twice as much wealth as 6.9 billion people. This according to Oxfam's annual report on global inequality released ahead of the annual World Economic Forum of political and business leaders in Davos, Switzerland.And while the wealth at the very top of the economic pyramid is already extreme, the world's broken economy concentrates more and more wealth into the hands of a very small group of people, predominantly men. Fact: Worldwide, men own 50% more wealth than women. Fasten your seatbelts, the gap's more astonishing than you think:The world's 22 richest men boast more wealth than all the women in Africa.If you saved $10,000 a day since the building of the pyramids in Egypt you would have one-fifth the average fortune of the world's five richest billionaires.If everyone were to sit on their wealth piled up in $100 bills, most of humanity would be sitting on the floor. A middle-class person in a rich country would be sitting at the height of a chair. The world's two richest men would be sitting in outer space.Taxing an additional 0.5% of the wealth of the richest 1% over the next 10 years is equal to investments needed to create 117 million jobs in education, health and elderly care and other sectors, and to close care deficits.The monetary value of women's unpaid care work globally for women aged 15 and over is at least $10.8 trillion annually — three times the size of the world's tech industry. In fact, unpaid care work prevents 42% of women from having a paid job versus 6% of men.In India, the richest 1% hold more than four times the wealth held by 953 million people who make up for the bottom 70% of the country's population. Add to this, the combined total wealth of 63 Indian billionaires is higher than the country's total 2018-19 Union Budget, which stood at Rs 24,42,200 crore! 'Garibi Hatao' redux?Also: The International Monetary Fund (IMF), while releasing an update to its World Economic Outlook (WEO) on Monday, lowered India's economic growth estimate for 2019 (read fiscal 2019-20) to 4.8%. It listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years. FYI: In October, the IMF had pegged India economic growth at 6.1% for 2019. And according to the latest update, growth is projected to improve to 5.8% in 2020 and 6.5% in 2021 (1.2 and 0.9 percentage points lower, respectively, than October's WEO). 2. Why Malaysia doesn't want to "retaliate" against India2. Why Malaysia doesn’t want to "retaliate" against IndiaMalaysian PM Mahathir Mohamad tried to play the 'pity' card by saying that his country was too small to retaliate against India, after curbs on import of palm oil were introduced by New Delhi, ostensibly targeting Kuala Lumpur for criticising India over CAA and KashmirMuscle flexing: India has so far only targeted palm oil imports, officially to safeguard its domestic industry though the hardest hit will be Malaysia, since India is its biggest buyer — accounting for nearly a quarter of Malaysia's palm oil exports. However, palm oil constituted just 13.38% of total imports from Malaysia in 2018-19 — and it wasn't even the largest imported item. That honour belonged to mineral fuels and mineral oils — which explains why Mohamad doesn't want to rock the boat more than he already has.Oil & other spoilsNot a surprise: India's imports of Malyasian palm oil have been on the decline over the last 5 years — even as New Delhi's imports of palm oil from other countries such as Indonesia, which is not only the world's biggest palm oil producer but also has lower production costs, have accelerated over the last one year, doubling from a little over 3 lakh tonnes in January 2019 to more than 6 lakh tonnes in December 2019. Between 2014-15 and 2018-19, Malaysian palm oil imports have declined by almost 42.5% in value.Diminishing supplyFair warning? Tensions between the two countries had been brewing since some time and India had fired a warning shot last year when it jacked up tariffs on imported palm oil by 5% in September 2019. The balance of trade between New Delhi and Kuala Lumpur lies with the latter — with exports to India exceeding imports from India by more than $4 billion. Moreover, while India is the seventh biggest export market for Malaysia, it, in return, is India's 17th biggest export market — making it way down the pecking order of economic importance. 3. Does Andhra really need three capital cities?3. Does Andhra really need three capital cities?A bill: The YS Jagan Mohan Reddy government on Monday introduced a Bill in the Andhra Pradesh assembly to give shape to its plan of having three capitals for the state, with the executive capital in Visakhapatnam, legislative capital in Amaravati and judicial capital in Kurnool. States like Maharashtra, Himachal Pradesh and the Union territory of J&K have two capitals each.The plan: The bulk of government offices including chief minister's office, Raj Bhavan and the secretariat will be shifted to Visakhapatnam. The high court will be moved to Kurnool. Amaravati will be the place for the state assembly to meet when in session. The government says the plan is for "equitable" development of the three regions of the state — north coast, south coast and Rayalaseema.Andhra 1The search: Andhra state has lost its capital city each time the state boundaries changed. Madras went to Tamil Nadu when Andhra state was carved out in 1953. The state lost Kurnool in 1956 after it was merged with Hyderabad state to form Andhra Pradesh. In 2014, the state once again lost its capital city — Hyderabad — when it was divided to create Telangana. Amaravati was to serve as the state's own capital to be built at a cost of Rs 33,000 crore.The politics: The ruling YSRCP and the state's main opposition party TDP are political rivals. The move to build a new capital at Amaravati was set in motion by the previous TDP government headed by Chandrababu Naidu. Both parties have also accused each other of "community" (caste) consideration on the choice of capital. While Amaravati is dominated by Naidu's community, Jagan's community is in the Vijayawada-Guntur region. Farmers who gave land for the capital (about 33,000 acres) are agitating at the derailing of Amaravati as the dream capital. The government has already spent Rs 5,500 crore on Amaravati (TDP says over Rs 10,000 crore) but after the controversy most of the outside funding for the mega project has been withdrawn.Read the full story here 4. All but one convicted in Muzaffarpur shelter home case4. All but one convicted in Muzaffarpur shelter home caseA Delhi court on Monday convicted 19 of the 20 accused, including Brajesh Thakur, in the Muzaffarpur shelter home abuse case. In 2018, a social audit by Tata Institute of Social Sciences revealed rampant sexual abuse in the shelter home, triggering a political storm and prompting the Nitish Kumar government to bring in the Central Bureau of Investigation. The 19, which includes nine women, were convicted of committing or abetting sexual assault on 44 minor girls. The sentence will be announced on January 28.The shelter home in Muzaffarpur, Bihar, was run by an NGO headed by Thakur, a local power-broker and promoter of a newspaper who contested in assembly elections in 1995 as a Bihar People's Party candidate and later in 2000 on a BSP ticket. The case was initially being tried in Patna. But in February, 2019, the Supreme Court transferred the trial to a Protection of Children from Sexual Offences (POCSO) court in Saket, Delhi. The SC bench headed by the then Chief Justice Ranjan Gogoi had slammed the Bihar government for its management of 16 shelter homes in the state, as well as the CBI for transferring an officer who was probing the case. NEWS IN CLUES5. Name the first-ever working president of the BJPClue 1: Born in Patna, Bihar, he was convent-educated at the city's St Xavier's School.Clue 2: He first entered electoral politics during the 1993 Himachal Pradesh Assembly polls, winning from Bilaspur.Clue 3: In 2014, he succeeded Harsh Vardhan as Union Health & Family Welfare minister.Scroll below for answer 6. A day in the apex court6. A day in the apex courtThe 'secret' bonds: The Supreme Court on Monday sought response of the Centre and the Election Commission on a plea seeking stay on the electoral bond scheme meant for funding political parties. The top court, however, refused to grant an interim stay on the controversial instrument in which donor's identity is not revealed. The government has opened sale of electoral bonds for 10 days for the Delhi Assembly elections.Delayed houses: The apex court accepted the proposal of the Centre to take over the management control of embattled realty firm Unitech. The court gave two months to the new board of the company to prepare the resolution plan during which there will be a moratorium from any legal proceedings against the management.A rape convict: The SC rejected the petition of Pawan Gupta, one of the death row convicts in the 2012 Delhi gangrape case, in which he had claimed that he was a juvenile at the time of the offence. The court said that his birth certificate showed that he was 19 years old at the time of the crime. A juvenile involved in the crime was released earlier after being kept for three years in a reform home.Minority vs majority: The SC has sent notice to the Centre, National Minority Commission and Central Wakf Board on a petition alleging that the government was implementing schemes worth Rs 4,700 crore to benefit minority communities while denying the same to Hindu trusts and similar institutions of other religious denominations.A name change: The SC has sought response of the Uttar Pradesh government on a PIL filed by Allahabad Heritage Society challenging renaming of Allahabad to Prayagraj. The petitioner has said that the state can't change the names of railway stations, central universities etc as they are controlled by the Centre. 7. What's the deal in Libya?7. What’s the deal in Libya?A deal: Leaders of more than a dozen nations, including Russia's Vladimir Putin, Germany's Angela Merkel, France's Emmanuel Macron, Turkey's Recep Tayyip Erdogan and US Secretary of State Mike Pompeo, signed an agreement in Berlin on Sunday to stop providing military support to Libya's warring factions. The agreement will now be presented to the UN Security Council for ratification.What's happening in Libya? The conflict in Libya has been festering since 2011 — post the downfall of Muammar Gaddafi — but has taken a particularly dangerous turn over the last two years, as major powers of the world sided with different factions in the country. Long story short, two governments are vying for control of the oil-rich nation. The Tripoli-based Government of National Accord (GNA), led by Prime Minister Fayez al-Sarraj, is recognised by the United Nations and supported by an array of militias. In the east, General Khalifa Haftar leads the Libyan National Army (LNA) and has been waging a war to takeover Tripoli.Who's who: The GNA led by al-Sarraj is recognised by the UN as well as the US, but it counts Turkey, Qatar and Italy as its closest allies. Militia groups aligned with Turkey, some of whom have cut their teeth in Syria, are on the ground protecting its territory. General Haftar is primarily backed by the UAE and Russia but also counts Saudi Arabia, Jordan and France among its supporters. Abu Dhabi's crown prince Mohammed bin Zayed is considered a key backer, setting up a secret air base in eastern Libya and carrying out drone and air strikes against GNA. Sidenote: A recent NYT profile of the crown prince here. This alignment has also meant, Libya has turned into a proxy war — UAE vs Qatar, West vs Russia, Turkey vs UAE, Islamist backing GNA vs anti-Islamist Haftar and so on.Beyond Libya: Besides these complex rivalries, Libya is vital for other reasons. Its geographic location in Maghreb (Northwest Africa) along the Mediterranean Sea makes it a pathway to migration to Europe; it's a major oil-producing nation; and its stability is key to trade along the sea. 8. A new decade, the same old #Gennext?8. A new decade, the same old #Gennext?Boys stay boys: The teen years of this millennium favoured men in their thirties — Rafael Nadal, Novak Djokovic and Roger Federer. Perhaps the new decade will bless those waiting in the sidelines? The opening day of the Australian Open though showed no signs of a change: One of the brightest young prospects in men's tennis blew his fuse on Monday. 20-year-old Denis Shapovalov of Canada, currently ranked world no.13, threw his racquet in frustration to earn a code violation en route to his 6-3, 7-6 (9/7), 6-1, 7-6 (7/3) loss to Hungary's Marton Fucsovics on Monday. Worse, rather than take the penalty as a wake-up call, Shapovalov hit out at the umpire. "I'm not breaking any rules," he shouted at the official. "It's my racquet, I can do whatever the hell I want with it. What are you talking about! I didn't break it."Girls are alright: Young women though have a good head on their shoulders. American teen Coco Gauff started with a repeat of her 2019 feat: a win over seven-time major winner Venus Williams. On Monday, the 15-year-old outclassed Williams 7-6 (5), 6-3 under the roof at Margaret Court Arena, following up on her memorable win over Williams in the 2019 Wimbledon. There was no such trouble for Serena Williams, however, chasing her 24th major; she dispatched Russia's Anastasia Potapova 6-0, 6-3 for her 350th win in Grand Slams.A royal putdown: Post-match, Serena Williams encountered a curious question. A reporter wanted her take on the royal drama over Prince Harry and Megan Markle, a friend of Williams. Williams, though, was not impressed. "But good try. You tried. You did good," came the reply. YOU SHARE YOUR B'DAY WITH...YOU SHARE YOUR B'DAY WITH...Source: Various 9. 'Parasite' infects Oscar race with SAG Awards top prize9. 'Parasite' infects Oscar race with SAG Awards top prizeParasite pulled off a historic win at the 26th Screen Actors Guild (SAG) Awards on Sunday by landing the night's top prize. The Korean language social satire about the wealth gap in South Korea became the first foreign language film to win Outstanding Performance by a Cast in a Motion Picture (think the SAG equivalent of a Best Film Academy Award) at a star-studded ceremony in Los Angeles. The win has now thrust the Bong Joon Ho-directed movie into Oscars contention.The second major showpiece in Hollywood's glittering awards season, which climaxes with the Academy Awards in two weeks' time, the SAG Awards honour both film and TV and are voted on by members of the main acting union. They are also seen as an indicator of Oscars glory, since actors represent the largest branch of the roughly 10,000 voters for the Academy of Motion Picture Arts and Sciences.Sunday's win though underlines Parasite's extraordinary popularity — it has grossed nearly $140 million globally. And it beat Bombshell, The Irishman, Jojo Rabbit and Once Upon a Time... in Hollywood. (One of its key awards season competitors, 1917, which has already won top honors at the Producers Guild Awards and the Golden Globe for Best Drama, was not up for an ensemble prize.)In contrast to the stunning victory for Parasite, the four Oscars acting favourites all cemented their frontrunner statuses by piling on further trophies. That's Joaquin Phoenix winning Best Actor for Joker, Renee Zellweger (Best Actress for Judy), Brad Pitt (Best Supporting Actor for Once Upon a Time... in Hollywood) and Laura Dern (Best Supporting Actress for Marriage Story). BEFORE YOU GO10. Badminton gives geese a breather10. Badminton gives geese a breatherThe Badminton World Federation (BWF) has finally approved synthetic feather shuttlecocks for international tournaments. The governing body said synthetic shuttlecocks made by Japanese sports equipment manufacturer Yonex, used at three BWF-sanctioned tournaments last year, has proven to be "more durable and economical compared to a traditional natural feathered shuttle, whilst at the same time providing a very similar flight and performance". The decision would please animal rights activists, for current badminton shuttlecocks are made from goose feathers. A professional shuttle consists of 16 feathers plucked from a live goose. There are some odd peculiarities, too: Only feathers from the left wing of a goose is used. Note: On average, a top-level match could go through at least two dozen shuttles. Over in Australia, the platypus — a duck-billed creature considered a missing link between earliest reptiles and mammals — is under stress due to prolonged drought, scientists say. Researchers from the University of New South Wales say: “We may have lost 40% of platypus numbers and that is only going to get worse with the impacts of climate change over the next fifty odd years” Answer To NEWS IN CLUESNICJagat Prakash Nadda. The 59-year-old was elected unopposed as the BJP national president on Monday after he emerged as the only leader in the fray following the nomination process in which his candidature was endorsed by top party leaders. Follow news that matters to you in real-time.Join 3 crore news enthusiasts. GET APPCompiled by: Judhajit Basu, Rakesh Rai, Sumil Sudhakaran, Tejeesh N.S. Behl Are you reading this in Gmail?To continue receiving updates from the Times of India, kindly move our emails to primary folder.Thanks for reading. 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