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Crude oil storage tanks - Sri Lanka supplies to India

  • Neighboring Sri Lanka has announced that it will lease 14 large crude oil storage tanks to India for 50 years. The vast oil tanks at Trincomalee were used to supply fuel during World War II. An agreement was reached with India in 2002 on the use of these tanks.
  • Of the 99 existing oil tanks, 14 tanks will be leased to Indian Oil Corporation for 50 years. Economic Crisis The Cabinet of Ministers of Sri Lanka has approved this.
Reliance Industries acquires UK-based Paradian
  • Reliance Industries, led by Mukesh Ambani, has acquired a British company, Paradian, which is involved in battery manufacturing. Reliance New Energy Solar, a subsidiary of Reliance Industries, has signed an agreement to acquire 100 per cent stake in Paradian.
  • It has been announced that this 100 per cent stake will be bought, valued at around Rs 1,003 crore. Reliance plans to invest an additional Rs 250 crore in Paradian, a maker of sodium ion batteries, to boost its business. Paradian is the world's leading battery technology company.
India wins U19 Asian Cup for the 8th time
  • India U19 - Sri Lanka U19 clash in the final of the series on behalf of the Asian Cricket Council in Dubai and Sharjah. Sri Lanka U19 scored 106 for 9 in 38 overs.
  • India won the Youth Asian Cup for the 8th time by 9 wickets. Of the 9 Asian Cup U-19 series so far, only Afghanistan has won the trophy in 2017. In the other 8 series, the Indian team has dominated the championship.
46th GST Council Meeting Recommendations
  • The Goods and Services Tax (GST) was introduced in 2017 by the Central Government to implement a single tax across the country.
  • In this context, the GST Council meeting is being held in Delhi today under the chairmanship of Union Finance Minister Nirmala Sitharaman. Ministers and officials from various states are participating in it.
  • At this meeting, it was recommended to postpone the textile recommendation procedure of the 45th GST Council meeting. Following this, the current GST rates in the textile sector will continue after January 1, 2022.
UN, Anti-Terrorism Commission to head India
  • For one year, India will head the UN, Counter-Terrorism Commission Executive Directorate.
  • A resolution was tabled at the UN Security Council meeting extending the term of the Executive Directorate of the Counter-Terrorism Committee until December 31, 2025.

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