Iraq Becomes India’s Biggest Oil Supplier*
*🗞GN || Tuesday, 08 Mar. 2018*
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◆Iraq has become India’s biggest crude oil supplier by overtaking Saudi Arabia with a wide margin in this current financial year.
◆Iraq supplied 38.9 million tonnes (MT) of oil, which was more than 20% of country’s oil needs. India is 80% dependent on imports to meet its oil needs.
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Washington Becomes 1st State To Approve Net-Neutrality Rules*
*🗞GN || Tuesday, 08 Mar. 2018*
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◆Washington has become the first state to enact its own net-neutrality requirements after U.S. regulators repealed Obama-era rules designed to keep the internet an even playing field.
◆The new law also requires internet providers to disclose information about their management practices, performance and commercial terms. Violations would be enforceable under the state’s Consumer Protection Act.
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Microsoft Inks Renewable Energy Deal For Bengaluru Facility*
*🗞GN || Tuesday, 08 Mar. 2018*
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◆Tech giant Microsoft has inked its first renewable energy deal in India for powering its new facility in Bengaluru. The facility, which will be operational starting June, is spread over 5.85 lakh square feet.
◆The agreement will see Microsoft purchase 3 megawatts of solar-powered electricity from Atria Power for its new office building in Bengaluru, meeting 80% of the projected electricity needs at the facility.
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European Development Bank Approves India’s Membership*
*🗞GN || Tuesday, 08 Mar. 2018*
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◆India is all set to become the 69th member of the European Bank for Reconstruction and Development (EBRD) after shareholders of the international financial institution gave their nod to the country’s candidature.
◆The formal membership process will now get underway, which includes the purchase of shares by India at an estimated cost of around 1 million euros. The EBRD’s Board of Governors, which represents all the existing shareholders of the UK-based bank, voted in favour of India’s membership application.
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