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Daily G.K. - Top Stories

27 Sep 2015

INTERNATIONAL AFFAIRS

Tsipras Pledges to End Debt Crisis by 2019

  • Greece’s newly re-elected Prime Minister pledged to fast-track negotiations with international bailout creditors so that the country can be in a position to get some much-needed debt relief.
  • In his first cabinet meeting, Alexis Tsipras told that his aim is to steer the country out of its crisis by 2019 when his four-year mandate ends.
  • Mr. Tsipras pledged to respect Greece’s commitments for further spending cuts, tax hikes and reforms, and said his first, urgent priority will be to launch talks on reducing the country’s crippling debt burden and boost its battered banks.
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ENVIRONMENT

Italy's Glaciers Retreated by 40 Percent

  • As per a report released by World Wildlife Fund, Alpine glaciers in Italy have lost an estimated 40 percent of their area over the last three decades.
  • The situation of glaciers on the Italian side of the Alps is very worrying.
  • The report suggested that drastic measures should be adopted at the Paris summit to prevent further deterioration of the glaciers in Italy and worldwide.
  • With respects to the Italian Alps, the report stated glaciers currently cover a total area of about 368 sq.km compared to 609 sq.km in the 1980s.
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BUSINESS AND ECONOMY

BPCL Eyes 10% in Kenya Oil Block

  • State-owned oil retailer Bharat Petroleum Corporation is in talks with UK-based Tullow Oil to buy a 10% stake in its discovered oil block in the South Lokichar Basin in Kenya with an estimated one billion barrels of oil reserves, of which 600 million barrels may be recoverable.
  • At current oil prices, the resource potential is valued at $27 billion and BPCL may have to shell out about $2.7 billion, depending upon the recoverable resource potential of the block.

Corbion Buys Malladi’s Lactic Acid Business

  • Corbion Purac, the Netherlands-based speciality chemicals firm has acquired lactic acid business of Chennai-based Malladi Specialties for an undisclosed sum.
  • The transaction includes the sales and delivery of lactic acid and lactic acid based derivatives in India. No production facilities will be acquired. Production unit at Renigunta will remain with Malladi Drugs and Pharmaceuticals, which will produce derivatives on behalf of Corbion Purac. This deal allows for a local production base through the partnership.
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