July 2024 Edition
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July 2024 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#1821
Which of the following statements regarding Pakistan's remittance inflows during the July-February period of FY26 is INCORRECT?
(a) Total remittances from Arab countries accounted for 53.3 percent of total inflows.
(b) Remittances from the United States were higher than those from the European Union.
(c) The UAE recorded a 12 percent increase in remittances to Pakistan.
(d) Remittances from the United Kingdom reached 4 billion dollars.
Explanation: The United States sent 2.3 billion dollars, whereas the European Union countries sent 3.5 billion dollars. Therefore, the statement that US inflows were higher is false. [Source: https://www.dawn.com/news/1980726/remittances-steady-but-war-risks-loom, 11 Mar 2026]
#1822
Which of the following is NOT an investment avenue proposed by SEBI for portfolio managers in the July 2026 consultation paper?
(a) Direct real estate development
(b) Overseas listed debt
(c) Unlisted debt
(d) Overseas listed equity
Explanation: SEBI proposed allowing investments in overseas listed equity, overseas listed debt, and unlisted debt. Direct real estate development is not included in the proposed expansion of investment avenues for portfolio managers. [Source: https://www.brecorder.com/news/40431463/indias-sebi-proposes-allowing-portfolio-managers-to-invest-overseas-in-to-be-listed-securities, 23 Jul 2026]
#1823
Consider the following statements about the impact of Middle East tensions on global energy markets as of July 23, 2026: 1. Brent crude futures approached $99 a barrel in Asian trade. 2. The conflict has raised concerns regarding the closure of the Strait of Hormuz. 3. Brent crude prices have rallied 12% over the week ending July 23, 2026. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: All three statements are factually accurate based on the report. Brent crude reached nearly $99, the Strait of Hormuz is a focal point for supply disruption fears, and the 12% weekly rally is confirmed. [Source: https://www.brecorder.com/news/40431465/indian-bonds-fall-for-third-session-as-oil-prices-near-100-a-barrel, 23 Jul 2026]
#1824
Under which specific European Union legislation was Google fined 890 million euros in July 2026?
(a) General Data Protection Regulation (GDPR)
(b) Digital Services Act (DSA)
(c) Artificial Intelligence Act
(d) Digital Markets Act (DMA)
Explanation: The European Commission issued the fines specifically citing the Digital Markets Act (DMA), which aims to curb the market power of large technology firms. While the GDPR and DSA are other major EU regulatory frameworks, they were not the primary legal basis for these specific antitrust penalties. [Source: https://www.dawn.com/news/2017814/google-hit-with-1bn-eu-fine-in-constructive-talks-to-avoid-more-penalties, 23 Jul 2026]
#1825
Which country was the largest source of remittances for Pakistan during the July-February period of FY26?
(a) United Arab Emirates
(b) United Kingdom
(c) United States
(d) Saudi Arabia
Explanation: Saudi Arabia remained the top source of remittances, contributing 6.163 billion dollars during the first eight months of FY26. The UAE followed as the second-largest source. [Source: https://www.dawn.com/news/1980726/remittances-steady-but-war-risks-loom, 11 Mar 2026]
#1826
The decline in US stock markets on July 23, 2026, was primarily attributed to rising oil prices and which of the following factors?
(a) Disappointing corporate earnings in the tech sector
(b) Unexpected interest rate hikes by the Federal Reserve
(c) A sudden collapse in global semiconductor demand
(d) None of these
Explanation: The market downturn was driven by the dual impact of surging energy costs and investor skepticism regarding tech sector earnings, specifically from Alphabet and Tesla. Interest rate hikes were not mentioned as a factor in this specific market event. [Source: https://www.brecorder.com/news/40431469/us-stocks-tumble-as-brent-oil-tops-100, 23 Jul 2026]
#1827
Consider the following statements about the market conditions on July 23, 2026: 1. The Pakistani rupee closed at 277.90 in the inter-bank market. 2. Brent crude oil prices rose by approximately 7%. 3. The US dollar index strengthened significantly due to the Iran-US tensions. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is correct as the inter-bank closing rate was 277.90. Statement 2 is correct as Brent futures rose by 7%. Statement 3 is incorrect because the US dollar index actually eased by 0.06% rather than strengthening significantly. [Source: https://www.brecorder.com/news/40431436/pakistani-rupee-records-gain-against-us-dollar, 23 Jul 2026]
#1828
What was the percentage increase in remittances from the European Union countries during the July-February period of FY26?
(a) 23.5 percent
(b) 12.0 percent
(c) 10.5 percent
(d) 4.6 percent
Explanation: Remittances from European Union countries recorded the highest growth rate at 23.5 percent, reaching 3.5 billion dollars. This growth significantly outpaced the 10.5 percent overall national average. [Source: https://www.dawn.com/news/1980726/remittances-steady-but-war-risks-loom, 11 Mar 2026]
#1829
On July 23, 2026, what was the primary geopolitical factor cited for the decline in Indian equity markets?
(a) Escalating tensions in the Middle East
(b) Unexpected interest rate hikes by the central bank
(c) Severe monsoon-related supply chain disruptions
(d) None of these
Explanation: The decline in Indian shares was attributed to rising oil prices caused by geopolitical tensions in the Middle East. This surge in energy costs negatively impacted investor sentiment and global risk appetite. [Source: https://www.brecorder.com/news/40431442/indian-shares-extend-drop-on-oil-surge-infosys-indigo-results-awaited, 23 Jul 2026]
#1830
Which commodity experienced a price increase of $4.52 per barrel on July 23, 2026, amid regional tensions?
(a) Brent crude
(b) Natural gas
(c) West Texas Intermediate
(d) None of these
Explanation: Brent crude futures rose by $4.52, or 4.80%, to reach $98.59 a barrel on July 23, 2026. This increase was driven by market concerns regarding shipping routes and regional geopolitical instability. [Source: https://www.brecorder.com/news/40431470/most-gulf-markets-gain-on-quarterly-earnings-but-geopolitical-risks-limit-upside, 23 Jul 2026]
#1831
Which of the following is NOT a consequence of higher oil prices for the Indian economy as mentioned in the context of the July 23, 2026, market report?
(a) Increased inflationary pressure
(b) Decreased volatility in the currency market
(c) Widening current account deficit
(d) Slowing economic growth
Explanation: Higher oil prices typically increase currency volatility rather than decrease it. The other three options are explicitly cited as risks associated with the surge in oil prices. [Source: https://www.brecorder.com/news/40431443/indian-rupee-ends-nearly-flat-as-central-bank-intervention-blunts-oil-strain, 23 Jul 2026]
#1832
Consider the following statements about the market conditions on July 23, 2026: 1. The Dubai main share index was supported by a rise in Emirates NBD shares. 2. The Qatari index experienced a decline due to the performance of Qatar Gas Transport. 3. Saudi Aramco shares closed lower, contributing to the overall market volatility. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 and 2 are correct as per the market data. Statement 3 is incorrect because Saudi Aramco shares actually closed 1% higher, not lower, on that day. [Source: https://www.brecorder.com/news/40431470/most-gulf-markets-gain-on-quarterly-earnings-but-geopolitical-risks-limit-upside, 23 Jul 2026]
#1833
Consider the following statements about the SEBI proposals released on July 23, 2026: 1. The proposals aim to align portfolio manager regulations with those of mutual funds and alternative investment funds. 2. The net worth requirement for the new category of portfolio managers is proposed to be reduced to 20 million rupees. 3. Portfolio managers are currently permitted to invest in unlisted debt without any restrictions. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is correct as the goal is regulatory alignment. Statement 2 is correct regarding the proposed net worth reduction. Statement 3 is incorrect because unlisted debt is currently not allowed for portfolio managers. [Source: https://www.brecorder.com/news/40431463/indias-sebi-proposes-allowing-portfolio-managers-to-invest-overseas-in-to-be-listed-securities, 23 Jul 2026]
#1834
Which of the following indices recorded a decline on July 23, 2026, contrary to the general trend in the Gulf?
(a) Dubai main share index
(b) Abu Dhabi index
(c) Qatari index
(d) Saudi Arabia benchmark index
Explanation: The Qatari index dropped by 0.3% on July 23, 2026, while the indices for Dubai, Abu Dhabi, and Saudi Arabia all recorded gains. The decline in Qatar was influenced by the retreat of Qatar Gas Transport. [Source: https://www.brecorder.com/news/40431470/most-gulf-markets-gain-on-quarterly-earnings-but-geopolitical-risks-limit-upside, 23 Jul 2026]
#1835
On July 23, 2026, which international oil benchmark exceeded the $100 per barrel price threshold?
(a) West Texas Intermediate
(b) Brent North Sea crude
(c) OPEC Reference Basket
(d) None of these
Explanation: Brent North Sea crude is the specific benchmark cited as having topped $100 per barrel on the event date. West Texas Intermediate is a common alternative benchmark but was not the primary focus of this specific market report. [Source: https://www.brecorder.com/news/40431469/us-stocks-tumble-as-brent-oil-tops-100, 23 Jul 2026]
#1836
Consider the following statements about the Indian market performance on July 23, 2026: 1. Both the Nifty 50 and BSE Sensex recorded their fourth consecutive session of losses. 2. The decline was limited to only three major sectors of the Indian economy. 3. Analysts identified a sustained rise in oil prices above $100 per barrel as a significant risk to future market performance. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is correct as the indices logged their fourth straight session of losses. Statement 2 is incorrect because fifteen of the sixteen major sectors fell. Statement 3 is correct as analysts highlighted the $100 per barrel threshold as a critical risk factor. [Source: https://www.brecorder.com/news/40431442/indian-shares-extend-drop-on-oil-surge-infosys-indigo-results-awaited, 23 Jul 2026]
#1837
Consider the following statements about the market situation on July 23, 2026: 1. The Dow Jones Industrial Average experienced a decline of 0.8 percent. 2. Investor skepticism was linked to high capital spending on new technologies by major firms. 3. The conflict in the Middle East was identified as a primary driver for the surge in oil prices. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: All three statements are factually correct based on the report. The Dow Jones fell by 0.8 percent, tech firms faced skepticism over capital expenditure, and the Middle East conflict was the catalyst for the oil price surge. [Source: https://www.brecorder.com/news/40431469/us-stocks-tumble-as-brent-oil-tops-100, 23 Jul 2026]
#1838
The surge in global oil prices on July 23, 2026, was primarily triggered by tensions involving which of the following?
(a) Strait of Malacca
(b) Suez Canal
(c) Panama Canal
(d) Strait of Hormuz
Explanation: The rise in Brent crude prices was linked to fears of supply disruptions spreading beyond the Strait of Hormuz following attacks on Saudi oil tankers. This geopolitical risk directly impacted global energy markets. [Source: https://www.brecorder.com/news/40431443/indian-rupee-ends-nearly-flat-as-central-bank-intervention-blunts-oil-strain, 23 Jul 2026]
#1839
In which French region were over 20,000 people evacuated due to a fire in a seaside pine forest in July 2026?
(a) Calabria
(b) Cotignac
(c) Le Porge
(d) Bordeaux
Explanation: The massive evacuation of over 20,000 people occurred in the region surrounding Bordeaux, France, where a fire ravaged a dense pine forest. While Le Porge is a specific town within that area, Bordeaux is the primary regional identifier used for the scale of the evacuation. [Source: https://www.dawn.com/news/2017997/deadly-wildfires-in-europe-force-thousands-to-flee, 24 Jul 2026]
#1840
Which global commodity benchmark experienced a significant price surge exceeding $100 per barrel on July 23, 2026?
(a) West Texas Intermediate
(b) Natural gas
(c) Brent crude
(d) Arabian Light
Explanation: Brent futures rose significantly to reach $100.71 per barrel on July 23, 2026, driven by supply disruption concerns. West Texas Intermediate is a different benchmark and was not the primary focus of the reported price surge. [Source: https://www.brecorder.com/news/40431436/pakistani-rupee-records-gain-against-us-dollar, 23 Jul 2026]