Chinese (RMB) officially joins the SDR

The international monetary fund IMF have officially announced the inclusion of yuan into the special drawing right with effect from October 1st 2016. This means that the RMB can be used by the 189 members of IMF,and members members of IMF can officially borrow and pay back with RMB. The yuan is now the 5th most active currency to be used globally.
The RMB was included in the SDR because of the huge global domestic reform it has gone through over the years which have created a global economic impact. The currency will occupy 10.92 % of the basket. One of the interesting features influencing the use of RMB is the export and import from China.

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EU officials dies in a plane crash in Malta

Two French ministers and two contractors has been killed in a plane crash in Malta. The plane nose-dived to the ground and burst into flames few minutes after take-off The plane was a surveillance aircraft that was heading for the Mediterranean Sea and the French defense minister Jean yves le drian says this is one of the French government efforts to track down on illicit trafficking and drugs. The French government have sown to properly investigate the cause of the plane accident that led to the loss of French officials.

Same-sex marriage legalized in Germany

There has been lots of celebration in Germany as the country's lawmakers legalized Same-sex marriage. Homosexual and lesbianian couples will now be able to get married legally and therewith adopt children, this act has made Germany to be in line with several European countries that have done same. The German Parliament passed this bill into law but Merkel was against the bill.

Lawmakers of South Korean vote to impeach president Park

The lawmakers of South Korean Parliament has voted to impeach president Park Geun-hye, the motion passed by 234 votes to 56 in the house . Hwang kyo-ahn the prime minister of South Korean will be the interim president .

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