News In Numbers: India’s oil imports from Iran fall by 16% in June

10,000

What is it? The number of products that have faced sanctions in the ongoing trade war, primarily between US and China.

Why it’s important? It started with a mere 18 products in January when US imposed tariffs on solar panels and washing machine products, and shows how trade wars can escalate fast. European Union, Canada and Mexico also joined the fray. Among other things, it has hit China’s currency, gold prices, and could hit US tech sector.

Tell me more: In the latest salvo, US proposed more tariffs on $200 billion in Chinese products, and China said it would retaliate.

$3.1 billion

What is it? The combined value of 19 new planes ordered by Delhi-headquartered Vistara, a joint venture between Singapore Airlines and Tata Sons

Why is it important? It will help expand the fleet of the airline which is expected to launch its international service later this year. Of the 19, it has ordered from 13 Airbus and six from Boeing, making a departure from its earlier Airbus-only fleet. Some airlines prefer to stick to a single manufacturer to keep the costs low. Singapore Airlines has a mix of both. Vistara has ordered six Boeing 787-9 Dreamliners, to be used for international routes.

Tell me more: Vistara has a market share of about 4%, connecting 22 destinations with 800 weekly flights, in a highly competitive market led by Indigo, Jet Airways and Spicejet.

News In Numbers: India’s oil imports from Iran fall by 16% in June

592,800 barrels per day

What is it? India’s oil imports from Iran in June.

Why is it important? It’s down 16% from May, even as the US imposed sanctions on Iran. US wants to push Iran’s oil exports to zero, till it complies with a dozen conditions including disclosure of its nuclear programme and release of all US citizens held in the country. India has said it will take a decision based on its own national interest.

Tell me more: Iran is OPEC’s third largest oil producer after Saudi Arabia and Iraq; and India is Iran’s second largest oil importer after China. Some analysts believe US sanctions on Iran will backfire as higher oil prices.

$ 1.77 million

What is it? The average cost of data breach in India, according to a report by IBM security and Ponemon Institute.

Why is it important? It is up 7.9% from 2017, even though compared globally, it’s the lowest in India. As India journeys into digital world – driven by cheaper data costs and mobile phones, and competition among companies to offer digital products – it exposes itself more to data breaches. IBM said India saw a rise both in the number and in the sophistication of breaches.

Tell me more: While a mega breach – where 1 million to 50 million records get compromised – could cost anywhere between $40 million to $300 million, on average it costs about $3 million. The cost is the highest in the US at $7.91 million.

16

What is it? Number of people killed in Manipur and Uttarakhand in rain related incidents.

Why is it important? Highlights the risks from natural disasters. Seven persons lost their lives in Dehradun, Uttarakhand after their houses collapsed in heavy rains following a cloudburst. In Manipur, landslides set off by rains killed eight children and a woman.

Tell me more: India is not alone. In Japan, landslides and flash flooding caused by rains have already claimed 179 lives, its worst natural disaster since Fukushima earthquake in 2011.

source: livemint


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