News brief: Big stories of the day

Walmart Inc has agreed to pay $16 billion for a roughly 77 per cent stake in Indian online shopping site Flipkart, the US retailer's biggest foreign investment as it battles rival Amazon.com Inc in one of the world's biggest emerging markets.

The deal, capping almost two years of talks, will help the Bentonville, Arkansas-based retailer fortify and boost market share against Amazon.com, which reportedly had tried to make a competing offer for a stake.

The Indian economy is expected to grow at 7.4 per cent in the current fiscal and accelerate further to 7.8 per cent as it recovers from the impact of demonetisation and GST roll out, IMF said today.

Asia continues to be the main engine of the world's economy, accounting for more than 60 per cent of global growth, three-quarters of which comes from China and India alone, as per IMF's Regional Economic Outlook: Asia and Pacific (REO).

Iran's supreme leader Ayatollah Ali Khamenei said Wednesday that Tehran would quit the landmark 2015 nuclear deal unless European signatories offered solid guarantees that trade relations would continue after the US withdrawal.

Addressing Iran's government in a televised speech, Khamenei said: "We hear that you want to continue the nuclear deal with the three European countries. I don't have confidence in these three countries."

Prime Minister Narendra Modi has been ranked among the top 10 most powerful people in the world by Forbes in a list that has been topped for the first time ever by Chinese President Xi Jinping, who dethroned Russian President Vladimir Putin as the most influential person on the planet.

Modi ranks 9th on the Forbes 2018 list of 75 of the World's Most Powerful People who make the world turn.

US President Donald Trump said on Wednesday that three Americans detained by North Korea have been released and are on their way home with Secretary of State Mike Pompeo.

"I am pleased to inform you that Secretary of State Mike Pompeo is in the air and on his way back from North Korea with the 3 wonderful gentlemen that everyone is looking so forward to meeting. They seem to be in good health," Trump wrote in a post on Twitter.