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Feb 29, 2024 • 4 min read

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India’s Nuclear Energy:

India is set to significantly enhance its nuclear energy output by adding 18 new nuclear reactors by 2032, as announced by the Nuclear Power Corporation of India Limited (NPCIL). This move will increase the nation's nuclear generation capacity by 13,800 MWe, raising the total to 22,480MWe and advancing India's standing in global nuclear energy production. Currently, nuclear power contributes 3.1% to India's electricity, with 22 reactors in operation.
This expansion aligns with the Indian government's strategy to cut CO2 emissions and lessen reliance on imported energy in response to the expected rise in electricity demand. Prime Minister Narendra Modi's recent inauguration of two 700 Mw nuclear reactors underscores this commitment. By 2031-2032, the initiative aims to meet the growing energy needs while shifting towards a less fossil fuel-dependent energy mix, in anticipation of a significant increase in energy consumption projected to rise by 156% between 2017 and 2040.

Sam Bankman-Fried Update:

The legal team representing Sam Bankman-Fried, the ex-CEO of FTX, has submitted a request to a federal court in New York for a sentence ranging from just over five years to six and a half years for their client. Bankman-Fried, who could face up to 110 years in prison following a conviction for various fraud and money laundering charges in November 2023, has been found guilty on several counts, including wire fraud, securities fraud, and conspiracy charges.
The sentencing, overseen by Judge Lewis Kaplan, is set for March 28, with federal prosecutors expected to present their sentencing proposal by March 15. A Pre-sentence Investigation Report has suggested a 100-year prison term for Bankma—Fried, but his attorneys argue this recommendation is excessively harsh for a first-time offender who acted with others and in a situation where victims are likely to be fully compensated.

Saudi Arabia’s ATP Deal:

The Public Investment Fund (PIF) of Saudi Arabia has entered into a significant five-year alliance with the ATP, the premier circuit for men’s professional tennis, marking a strategic and multifaceted collaboration aimed at enhancing the visibility and development of men's professional tennis globally.
This collaboration, revealed last year, not only secures the PIF's involvement in the hosting of the Next Gen Finals, a prestigious tournament for players under the age of 21, extending through 2027, but also represents a broader commitment to the sport.
The partnership, officially announced by the ATP on Wednesday, encompasses various aspects, including granting the PIF exclusive naming rights to the ATP rankings and the award for the world number one player, underscoring the depth of the PIF's integration into the tennis world.

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