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Daily G.K. - Top Stories

17 Mar 2016

INTERNATIONAL AFFAIRS

New Sanctions on North Korea

  • President Barack Obama has imposed new sanctions on North Korea, intended to further isolate the country`s leadership after recent actions by Pyongyang.
  • The executive order freezes any property of the North Korean government in the United States and prohibits exportation of goods from the United States to North Korea.
  • The new sanctions threaten to ban from the global financial system anyone, even Europeans and Asians, who does business with broad swaths of Pyongyang`s economy, including its financial, mining and transportation sectors.
  • North Korea`s illicit nuclear and ballistic missile activities will not be tolerated by the US and global community.

Migrant Arrivals in Greece Top One Million

  • As per the United Nations refugee agency, more than one million migrants and refugees have entered Greece since January last year.
  • Most of the refugees who have crossed into Greece are from Syria, Iraq and Afghanistan since the start of 2015.
  • This milestone is an urgent reminder of the need for a more coordinated approach to managing the influx and protecting people who are fleeing war and persecution.
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BUSINESS AND ECONOMY

Petrol and Diesel Prices Hiked

  • Oil marketing companies increased the price of petrol by Rs. 3.07 and that of diesel by Rs. 1.90 per litre.
  • The new prices include state levies.
  • This is the first hike in petrol prices after seven consecutive reductions.

OVL and IOC Consortium to Buy Russian Oil Fields

  • ONGC Videsh Ltd and a consortium led by Indian Oil Corp signed agreements to buy stake in two Russian oilfields in Siberia for an estimated USD 4.2 billion.
  • IOC, Oil India Ltd and a unit of Bharat Petroleum Corp Ltd (BPCL) signed sale purchase agreement (SPA) for 29.9 percent stake in Tass-Yuriakh oilfield.
  • The consortium also signed Heads of Agreement (HoA) with Rosneft for taking 23.9 percent stake in Vankor oilfield.
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