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  • NewsReuters

    India's new government will be spoilt for choice with $25 billion extra in kitty

    India's incoming government will be greeted with a $25 billion cheque from the central bank, giving it the option to either boost spending or narrow the fiscal deficit quicker, both of which will be cheered by investors. On Wednesday, the Reserve Bank of India (RBI) announced a record 2.11 trillion rupees dividend transfer to the government, more than double New Delhi's and street estimates, leading to a decline in bond yields and a rise in equity markets. The surplus fund can help the new gov

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  • NewsAFP News

    Large apartment fire in central Hanoi kills 14 people

    A fire ripped through an apartment complex in central Hanoi early Friday, killing 14 people and injuring three others, police said. In Vietnam's deadliest fire in two decades, 56 people died -- three of them children -- in a Hanoi apartment block blaze last September.

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  • NewsAFP News

    Mines, unexploded ordnance a daily menace for Afghanistan's children

    The black mushroom cloud had barely faded in Ghazni province before kids clustered around the edge of the crater created by the mine, one of the devices that kills a child every other day in Afghanistan.The third time, the device exploded."

    5-min read
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  • NewsAFP News

    Top UN court to rule on S. Africa Gaza ceasefire bid

    The top United Nations court on Friday will rule on a plea by South Africa to order a halt to the Israeli military offensive in Gaza, with Pretoria accusing Israel of "genocide".South Africa charges the only way to enable humanitarian aid in to ease the crisis in Gaza is a full halt to Israel's military operations.

    4-min read
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  • BusinessReuters

    Indian cenbank's FX strategy leans on NDF intervention to safeguard reserves, say sources

    The Reserve Bank of India is relying more on interventions in the non-deliverable forwards (NDF) market to limit rupee volatility as they have a lower impact on foreign exchange reserves, two sources familiar with the central bank's thinking said. The RBI has traditionally acted in the local over-the-counter (OTC) spot market to keep the rupee stable. The shift to interventions in the NDF market comes as the RBI looks to preserve its FX reserves while also limiting rupee volatility.

    3-min read
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  • NewsReuters

    South Asia faces extreme weather with heatwave in India, cyclone in Bangladesh

    NEW DELHI (Reuters) -South Asia is experiencing extreme weather conditions, with at least nine killed due to a suspected heat stroke in India's west, while parts of Bangladesh and neighbouring states are likely to be hit by a cyclone in a couple of days. Extreme temperatures throughout Asia last month were made worse most likely as a result of human-driven climate change, a team of international scientists said. India's summer temperatures often peak in May, but scienti