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The tormenting heatwave continues to a take a toll in central and northwest India as several parts of the region are still witnessing high temperatures on Tuesday, the India Meteorological Department said. From Wednesday, several areas of the region may start experiencing small spells of pre-monsoon showers. This will surely be a huge respite for several residents of the region. The pre-monsoon activity will intensify in northwest and central India from Wednesday as the southwest monsoon has been advancing to other parts of the country, said senior officials of the Met department. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/severe-heatwave-indian-capital-witnesses-25-days-with-max-temp-over-42-degrees-celsius-this-year-487751" hreflang="en">Severe heatwave: Indian capital witnesses 25 days with max temp over 42 degrees Celsius this year</a>

“Heatwave conditions have largely abated in the country because of increased rainfall activity and monsoon coverage. Some parts of northwest India will, however, record high temperatures on Tuesday as well,” said a senior IMD official.&nbsp;In the next three to four days, there will be a drop of two to three degrees Celsius in temperatures in northwest and central India, the official added. &nbsp;

Watch:&nbsp;Delhi: 6 spells of a heat wave this summer with temperatures hitting 49° Celsius in May&nbsp;

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Several places like Chandigarh, Bhiwani, Rohtak, Ganganagar, Patiala, Hisar, Churu and Pilani witnessed temperatures over 44 degrees Celsius on Monday, as per IMD’s data. In this year, the Indian capital, New Delhi, has experienced 25 days with maximum temperatures over 42 degrees Celsius.&nbsp;&nbsp;

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(With inputs from agencies)&nbsp;

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The tormenting heatwave continues to a take a toll in central and northwest India as several parts of the region are still witnessing high temperatures on Tuesday, the India Meteorological Department said.

The tormenting heatwave continues to a take a toll in central and northwest India as several parts of the region are still witnessing high temperatures on Tuesday, the India Meteorological Department said. From Wednesday, several areas of the region may start experiencing small spells of pre-monsoon showers. This will surely be a huge respite for several residents of the region. The pre-monsoon activity will intensify in northwest and central India from Wednesday as the southwest monsoon has been advancing to other parts of the country, said senior officials of the Met department. Also Read: Severe heatwave: Indian capital witnesses 25 days with max temp over 42 degrees Celsius this year “Heatwave conditions have largely abated in the country because of increased rainfall activity and monsoon coverage. Some parts of northwest India will, however, record high temperatures on Tuesday as well,” said a senior IMD official. In the next three to four days, there will be a drop of two to three degrees Celsius in temperatures in northwest and central India, the official added. Watch: Delhi: 6 spells of a heat wave this summer with temperatures hitting 49° Celsius in May Several places like Chandigarh, Bhiwani, Rohtak, Ganganagar, Patiala, Hisar, Churu and Pilani witnessed temperatures over 44 degrees Celsius on Monday, as per IMD’s data. In this year, the Indian capital, New Delhi, has experienced 25 days with maximum temperatures over 42 degrees Celsius. WATCH WION LIVE HERE (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Central, northwest India to ditch heatwave, set a date with pre-monsoon showers from Wednesday  

All 5 central Asian countries- Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan are being invited by New Delhi as the Republic day guest.&nbsp;

This is the first time that all central Asian countries will be present as the guest and the second time when so many countries will be invited together after 2018 when ASEAN was invited.

The formal conversation regarding this started nearly 3&nbsp;weeks ago between the two sides, multiple sources have confirmed.&nbsp; This comes as a significant outreach to central Asia by New Delhi as it shares cultural, civilisational and historic linkages.&nbsp;

Prime Minister Modi had visited all Central Asian countries in 2015, a first by any Indian PM.&nbsp;There 5 republics came into being after the breakup of the Soviet Union.

<a href="https://www.wionews.com/india-news/drdo-iaf-successfully-flight-test-stand-off-anti-tank-missile-436123">Also read |&nbsp;DRDO, IAF successfully flight-test stand-off anti-tank missile</a>

The visit by Central Asian leadership marks the first summit of Central Asia and India dialogue, a mechanism that already exists at the Foreign Minister's level.&nbsp;

On December 18 and 19, New Delhi will be hosting the Central Asian, India Foreign Minister's meet. This will be the third such meeting of Central Asian and Indian foreign ministers.&nbsp;

The first meet happened in Uzbekistan's Samarkand in January 2019 where India was represented by the then External Affairs Minister Sushma Swaraj.&nbsp;

Last year the meet happened virtually.

India, in the past, has announced a US $1 billion line of credit for priority developmental projects in fields such as connectivity, energy, IT, healthcare, education, agriculture etc.&nbsp;

It has also pitched for Chabahar port in Iran for an easy route for connectivity, something that has garnered support among those countries.&nbsp;

Afghanistan has been one of the main topics of conversation between the two sides, with EAM visiting Uzbekistan and Tajikistan earlier this year where the issue dominated.

India's choice of guest at the Republic Day shows its closeness with the country or a region.&nbsp;

Under PM Modi's tenure since 2014, India has invited US President Barack Obama (2015), French President Francois Hollande(2016), UAE's Md Bin Zayed Al Nahyan (2017), all the 10 ASEAN countries (2018), South Africa's Cyril Ramaphosa (2019) and Brazil's Jair Bolsonaro(2020).&nbsp;

Last year, UK's Boris Johnson was expected as the guest but that could not happen due to Covid. 
Among the central Asian countries, only Kazakhstan has been the chief guest of India's grand parade in the year 2009.

All 5 central Asian countries- Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan are being invited by New Delhi as the Republic day guest. This is the first time that all central Asian countries will be present as the guest and the second time when so many countries will be invited together after 2018 when ASEAN was invited.

All 5 central Asian countries- Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan are being invited by New Delhi as the Republic day guest. This is the first time that all central Asian countries will be present as the guest and the second time when so many countries will be invited together after 2018 when ASEAN was invited. The formal conversation regarding this started nearly 3 weeks ago between the two sides, multiple sources have confirmed. This comes as a significant outreach to central Asia by New Delhi as it shares cultural, civilisational and historic linkages. Prime Minister Modi had visited all Central Asian countries in 2015, a first by any Indian PM. There 5 republics came into being after the breakup of the Soviet Union. Also read | DRDO, IAF successfully flight-test stand-off anti-tank missile The visit by Central Asian leadership marks the first summit of Central Asia and India dialogue, a mechanism that already exists at the Foreign Minister's level. On December 18 and 19, New Delhi will be hosting the Central Asian, India Foreign Minister's meet. This will be the third such meeting of Central Asian and Indian foreign ministers. The first meet happened in Uzbekistan's Samarkand in January 2019 where India was represented by the then External Affairs Minister Sushma Swaraj. Last year the meet happened virtually. India, in the past, has announced a US $1 billion line of credit for priority developmental projects in fields such as connectivity, energy, IT, healthcare, education, agriculture etc. It has also pitched for Chabahar port in Iran for an easy route for connectivity, something that has garnered support among those countries. Afghanistan has been one of the main topics of conversation between the two sides, with EAM visiting Uzbekistan and Tajikistan earlier this year where the issue dominated. India's choice of guest at the Republic Day shows its closeness with the country or a region. Under PM Modi's tenure since 2014, India has invited US President Barack Obama (2015), French President Francois Hollande(2016), UAE's Md Bin Zayed Al Nahyan (2017), all the 10 ASEAN countries (2018), South Africa's Cyril Ramaphosa (2019) and Brazil's Jair Bolsonaro(2020). Last year, UK's Boris Johnson was expected as the guest but that could not happen due to Covid. Among the central Asian countries, only Kazakhstan has been the chief guest of India's grand parade in the year 2009.

All five Central Asian countries to be chief guest at India's Republic Day

China's central bank on Friday broke its silence over Evergrande's debt troubles as it said that the risk of spillover from the property giant to the financial sector was "controllable," state media reported.

Local authorities are "carrying out risk disposal and resolution work in accordance with the principles of rule of law and marketisation," People’s Bank of China official Zou Lan said at a briefing, according to an outlet of the Xinhua state news agency.

Zou's comments came amid growing concern that the cash crunch at Evergrande, which is struggling with more than $300 billion in liabilities, could lead to contagion for the Chinese economy.

<a href="https://www.wionews.com/business-economy/evergrande-investors-in-dark-as-no-news-on-interest-payment-emerges-415591">Also read |&nbsp;Evergrande investors in dark as no news on interest payment emerges</a>

Evergrande's liabilities make it the most indebted property firm in the world. The debts stretch into hundreds of billions of dollars, which makes it equal to 2 per cent of Chinese GDP.&nbsp;

Shares in Evergrande have plunged 80 per cent so far this year, while its property services unit has dropped 43 per cent as the group scrambles to raise funds to pay its many lenders and suppliers.

"In recent years, the company has been poorly managed, and was unable to operate cautiously in accordance with changes in the market situation," Zou said.&nbsp;

<a href="https://www.wionews.com/business-economy/hong-kong-stock-exchange-halts-trading-of-evergrande-shares-418036">Also read |&nbsp;Hong Kong Stock Exchange halts trading of Evergrande shares</a>

He added, "Instead, it blindly diversified and expanded, causing the serious deterioration of operating and financial indicators, and eventually an explosion of risk."

China's central bank on Friday broke its silence over Evergrande's debt troubles as it said that the risk of spillover from the property giant to the financial sector was "controllable," state media reported.

China's central bank on Friday broke its silence over Evergrande's debt troubles as it said that the risk of spillover from the property giant to the financial sector was "controllable," state media reported. Local authorities are "carrying out risk disposal and resolution work in accordance with the principles of rule of law and marketisation," People’s Bank of China official Zou Lan said at a briefing, according to an outlet of the Xinhua state news agency. Zou's comments came amid growing concern that the cash crunch at Evergrande, which is struggling with more than $300 billion in liabilities, could lead to contagion for the Chinese economy. Also read | Evergrande investors in dark as no news on interest payment emerges Evergrande's liabilities make it the most indebted property firm in the world. The debts stretch into hundreds of billions of dollars, which makes it equal to 2 per cent of Chinese GDP. Shares in Evergrande have plunged 80 per cent so far this year, while its property services unit has dropped 43 per cent as the group scrambles to raise funds to pay its many lenders and suppliers. "In recent years, the company has been poorly managed, and was unable to operate cautiously in accordance with changes in the market situation," Zou said. Also read | Hong Kong Stock Exchange halts trading of Evergrande shares He added, "Instead, it blindly diversified and expanded, causing the serious deterioration of operating and financial indicators, and eventually an explosion of risk."

Evergrande risks 'controllable', says China's central bank

At least 14 people were killed and 30 others injured after a passenger bus veered off a road and plunged down a precipice on Saturday in the hilly district of Badulla in central Sri Lanka.&nbsp;

The private bus was travelling from Lunugala in Badulla to capital Colombo when the accident took place this morning, police said.&nbsp;

The CCTV footage showed the bus was forced on to the edge of the road by a tipper truck heading towards it. The bus tumbled down a hill around 7 am local time this morning, police said. &nbsp;

Meanwhile, a Sri Lanka Air Force officer was killed in an accident during a parachute training exercise on Saturday, according to authorities.&nbsp;

An Air Force official said that the accident took place during the exercise in Ampara, Eastern Province, when the parachutes of the two airmen collided over 8,000 feet in the sky.&nbsp;

The other Air Force man sustained injuries and was rushed to the Ampara Hospital.&nbsp;

The deceased officer was identified as a 34-year-old Squadron Leader of the Sri Lanka Air Force.&nbsp;

(With inputs from agencies)&nbsp;

At least 14 people were killed and 30 others injured after a passenger bus veered off a road and plunged down a precipice on Saturday in the hilly district of Badulla in central Sri Lanka.

At least 14 people were killed and 30 others injured after a passenger bus veered off a road and plunged down a precipice on Saturday in the hilly district of Badulla in central Sri Lanka. The private bus was travelling from Lunugala in Badulla to capital Colombo when the accident took place this morning, police said. The CCTV footage showed the bus was forced on to the edge of the road by a tipper truck heading towards it. The bus tumbled down a hill around 7 am local time this morning, police said. Meanwhile, a Sri Lanka Air Force officer was killed in an accident during a parachute training exercise on Saturday, according to authorities. An Air Force official said that the accident took place during the exercise in Ampara, Eastern Province, when the parachutes of the two airmen collided over 8,000 feet in the sky. The other Air Force man sustained injuries and was rushed to the Ampara Hospital. The deceased officer was identified as a 34-year-old Squadron Leader of the Sri Lanka Air Force. (With inputs from agencies)

14 killed in bus accident in central Sri Lanka 

The sea formation is likely to be phenomenal over the central Arabian sea around the system centre till October 30, as per a weather warning update by India Meteorological Department on Monday.&nbsp;

There is a possibility of very rough to high sea condition on October 31 and November 1 in the same area. Fishermen have been warned not to venture in the areas close to the central Arabian sea.&nbsp;

Heavy rainfall has been predicted at isolated places over Kerala and Mahe, while thunderstorm accompanied by lightning is likely at isolated places over Odisha on Monday. Gale winds of the speed reaching 230-240 kmph gusting to 265 kmph, are very likely over east-central and adjoining west-central the Arabian Sea around the system centre on Monday.&nbsp;

This update comes after a deep depression over the Arabian Sea intensified into a cyclonic storm `KYARR` (pronounced as KYARR) on 25 October, prompting the IMD to issue a `yellow alert for the next day.

The sea formation is likely to be phenomenal over the central Arabian sea around the system centre till October 30, as per a weather warning update by India Meteorological Department on Monday.

The sea formation is likely to be phenomenal over the central Arabian sea around the system centre till October 30, as per a weather warning update by India Meteorological Department on Monday. There is a possibility of very rough to high sea condition on October 31 and November 1 in the same area. Fishermen have been warned not to venture in the areas close to the central Arabian sea. Heavy rainfall has been predicted at isolated places over Kerala and Mahe, while thunderstorm accompanied by lightning is likely at isolated places over Odisha on Monday. Gale winds of the speed reaching 230-240 kmph gusting to 265 kmph, are very likely over east-central and adjoining west-central the Arabian Sea around the system centre on Monday. This update comes after a deep depression over the Arabian Sea intensified into a cyclonic storm `KYARR` (pronounced as KYARR) on 25 October, prompting the IMD to issue a `yellow alert for the next day.

Sea formation likely to be phenomenal over central Arabian Sea till October 30: IMD

Members of Malaysia's royal families on Thursday elected Sultan Abdullah Sultan Ahmad Shah as the new king, following the unexpected abdication of the previous monarch.

Sultan Abdullah, 59, ruler of the central state of Pahang, will formally take over the throne on January 31 for a five-year term, the keeper of the rulers' seal said in a statement.

Malaysia is a constitutional monarchy with the king assuming a largely ceremonial role, including acting as custodian of Islam in the Muslim-majority country. The king's assent is needed for the appointment of a prime minister and various senior officials.

Malaysia's nine royal households take turns to provide a king, who is chosen through a vote in a Council of Rulers, made up of the nine households, most of which are led by a sultan.

The king is elected for a five-year term.

The head of the Pahang royal family was next in line in take over from the former king, Sultan Muhammad V, who is the head of the state of Kelantan.

Sultan Muhammad abdicated this month after just two years on the throne, the first time a monarch had stepped down before completing their tenure.

No reason was given for his decision, which came after images purporting to show him getting married in Russia appeared on social media in December. Posts identified his new wife as Oksana Voevodina, who won a Miss Moscow contest in 2015.

The new king, Sultan Abdullah, succeeded his ailing father as ruler of Pahang last week.

His ascent to the Pahang throne was seen as a sign that he would take over as the new monarch.

Sultan Abdullah is on the non-executive supervisory council of football governing body FIFA. He is also the president of the Asian Hockey Federation.

Members of Malaysia's royal families on Thursday elected Sultan Abdullah Sultan Ahmad Shah as the new king, following the unexpected abdication of the previous monarch.

Members of Malaysia's royal families on Thursday elected Sultan Abdullah Sultan Ahmad Shah as the new king, following the unexpected abdication of the previous monarch. Sultan Abdullah, 59, ruler of the central state of Pahang, will formally take over the throne on January 31 for a five-year term, the keeper of the rulers' seal said in a statement. Malaysia is a constitutional monarchy with the king assuming a largely ceremonial role, including acting as custodian of Islam in the Muslim-majority country. The king's assent is needed for the appointment of a prime minister and various senior officials. Malaysia's nine royal households take turns to provide a king, who is chosen through a vote in a Council of Rulers, made up of the nine households, most of which are led by a sultan. The king is elected for a five-year term. The head of the Pahang royal family was next in line in take over from the former king, Sultan Muhammad V, who is the head of the state of Kelantan. Sultan Muhammad abdicated this month after just two years on the throne, the first time a monarch had stepped down before completing their tenure. No reason was given for his decision, which came after images purporting to show him getting married in Russia appeared on social media in December. Posts identified his new wife as Oksana Voevodina, who won a Miss Moscow contest in 2015. The new king, Sultan Abdullah, succeeded his ailing father as ruler of Pahang last week. His ascent to the Pahang throne was seen as a sign that he would take over as the new monarch. Sultan Abdullah is on the non-executive supervisory council of football governing body FIFA. He is also the president of the Asian Hockey Federation.

Malaysian royals elect new king after surprise abdication

The Reserve Bank of India (RBI) is considering issuance of its own virtual currency (VC) while instructing financial institutions to refrain from and cut off business relations with private entities that are dealing with virtual currencies.

An interdepartmental group has been constituted to study and provide guidance on the “desirability and feasibility” to introduce a “central bank digital currency” and will submit its report by June, the central bank said.

“Several central banks are debating the possibility of introducing a fiat digital currency. As opposed to private digital tokens, these are issued by a central bank. They constitute a liability of the central bank, and they will be in circulation in addition to the paper currency that we have,” RBI deputy governor BP Kanungo told reporters during the customary post-policy address.

Explaining its rationale behind the central digital currency, RBI said technological innovations, including virtual currencies, have the potential to improve the efficiency and inclusiveness of the financial system.

 
The RBI has also directed banks and regulated entities not to deal with or provide services to individuals or businesses dealing in virtual currencies.&nbsp;

RBI directs banks and regulated entities not to deal in or provide services to individuals or businesses dealing in virtual currencies

The Reserve Bank of India (RBI) is considering issuance of its own virtual currency (VC) while instructing financial institutions to refrain from and cut off business relations with private entities that are dealing with virtual currencies. An interdepartmental group has been constituted to study and provide guidance on the “desirability and feasibility” to introduce a “central bank digital currency” and will submit its report by June, the central bank said. “Several central banks are debating the possibility of introducing a fiat digital currency. As opposed to private digital tokens, these are issued by a central bank. They constitute a liability of the central bank, and they will be in circulation in addition to the paper currency that we have,” RBI deputy governor BP Kanungo told reporters during the customary post-policy address. Explaining its rationale behind the central digital currency, RBI said technological innovations, including virtual currencies, have the potential to improve the efficiency and inclusiveness of the financial system. The RBI has also directed banks and regulated entities not to deal with or provide services to individuals or businesses dealing in virtual currencies.

RBI planning on introducing digital currency

The no-confidence motion against the government was again not taken up after both houses of Parliament were adjourned Monday morning.&nbsp;

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No confidence motion not introduced, Lok Sabha adjourned till tomorrow after continuous uproar. <a href="https://t.co/bdT3dbBWA8">pic.twitter.com/bdT3dbBWA8</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/975622822293893120?ref_src=twsrc%5Etfw">March 19, 2018</a></blockquote>
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The Lok Sabha had earlier been adjourned till 12 pm. But a little after the house sat down,&nbsp;it was adjourned after a continuous uproar.&nbsp;

The TDP&#39;s MPs would not allow Speaker Sumitra Mahajan to run the house.&nbsp; Each time the Lok Sabha would convene, they would run into the well of the house.&nbsp;&nbsp;

The Rajya Sabha had earlier already been adjourned till Tuesday.&nbsp;

The YSR Congress and the TDP have asked for a trust vote against the government over the issue of special status to Andhra Pradesh. The central government had refused to give the state the special status it was asking for, but had said it would give Andhra the monetary equivalent of special status.&nbsp;

Andhra Chief Minister N Chandrababu Naidu had recently asked the two TDP ministers in the union cabinet &mdash; Ashok Gajapathi Raju and YS Chowdary &mdash; to put in their papers. He had then later he would take his next steps accordingly.&nbsp;

The YSR Congress and the TDP had asked for the trust vote &mdash; a minimum of 50 members have to accept the motion for the vote to be held &mdash; last week. The Left, the AIADMK, the Aam Aadmi Party, and the AIMIM will support the vote.&nbsp;

Should the motion be accepted, this will be the first no-trust vote against the central government.&nbsp;

That said, the Narendra-led Modi NDA government is at the moment in no danger of falling. It has a simple majority on its own, and enough independent MPs in the house it could approach, should the need ever arise, to sail through a no-trust vote.&nbsp;

The parties asking for the vote seem to <a href="http://www.wionews.com/india-news/want-no-trust-vote-debate-but-not-trying-to-make-government-fall-tdp-mp-36314" target="_blank">understand</a> that. The TDP MP RM Naidu said Monday morning:&nbsp;

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We are going to go move no-confidence motion,gather support of all respective parties in Parliament. It&#39;s responsibility of all parties in Parliament to support us. Trying to gather as much support as possible so debate happens, not trying to make the govt fall: RM Naidu, TDP MP <a href="https://t.co/LbdfpLAQAd">pic.twitter.com/LbdfpLAQAd</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/975587133309313024?ref_src=twsrc%5Etfw">March 19, 2018</a></blockquote>
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The TDP however, commentators says, wishes to attack the government on the issue before assembly elections in Andhra next year &mdash; which is exactly what opposition parties in the state are doing to it. Taking on the central government also allows the TDP to ward off the YSR Congress&#39;s Jagan Mohan Reddy, who has been pushing for special status for Andhra for some four years now.&nbsp;

More fireworks can be expected on Tuesday when Parliament reconvenes; the YSR Congress&#39;s YV Subba Reddy has asked for the motion to be taken up tomorrow again.&nbsp;

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YSRCP MP YV Subba Reddy again writes to Secretary General Lok Sabha to include in list of business for tomorrow &#39;no confidence motion in the council of ministers&#39;. <a href="https://t.co/6fsIhkk10H">pic.twitter.com/6fsIhkk10H</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/975639641847140352?ref_src=twsrc%5Etfw">March 19, 2018</a></blockquote>
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&nbsp;

The YSR Congress and the TDP have been trying to push the motion over the 'special status' issue for Andhra Pradesh

The no-confidence motion against the government was again not taken up after both houses of Parliament were adjourned Monday morning. No confidence motion not introduced, Lok Sabha adjourned till tomorrow after continuous uproar. pic.twitter.com/bdT3dbBWA8 — ANI (@ANI) March 19, 2018 × The Lok Sabha had earlier been adjourned till 12 pm. But a little after the house sat down, it was adjourned after a continuous uproar. The TDP's MPs would not allow Speaker Sumitra Mahajan to run the house. Each time the Lok Sabha would convene, they would run into the well of the house. The Rajya Sabha had earlier already been adjourned till Tuesday. The YSR Congress and the TDP have asked for a trust vote against the government over the issue of special status to Andhra Pradesh. The central government had refused to give the state the special status it was asking for, but had said it would give Andhra the monetary equivalent of special status. Andhra Chief Minister N Chandrababu Naidu had recently asked the two TDP ministers in the union cabinet — Ashok Gajapathi Raju and YS Chowdary — to put in their papers. He had then later he would take his next steps accordingly. The YSR Congress and the TDP had asked for the trust vote — a minimum of 50 members have to accept the motion for the vote to be held — last week. The Left, the AIADMK, the Aam Aadmi Party, and the AIMIM will support the vote. Should the motion be accepted, this will be the first no-trust vote against the central government. That said, the Narendra-led Modi NDA government is at the moment in no danger of falling. It has a simple majority on its own, and enough independent MPs in the house it could approach, should the need ever arise, to sail through a no-trust vote. The parties asking for the vote seem to understand that. The TDP MP RM Naidu said Monday morning: We are going to go move no-confidence motion,gather support of all respective parties in Parliament. It's responsibility of all parties in Parliament to support us. Trying to gather as much support as possible so debate happens, not trying to make the govt fall: RM Naidu, TDP MP pic.twitter.com/LbdfpLAQAd — ANI (@ANI) March 19, 2018 × The TDP however, commentators says, wishes to attack the government on the issue before assembly elections in Andhra next year — which is exactly what opposition parties in the state are doing to it. Taking on the central government also allows the TDP to ward off the YSR Congress's Jagan Mohan Reddy, who has been pushing for special status for Andhra for some four years now. More fireworks can be expected on Tuesday when Parliament reconvenes; the YSR Congress's YV Subba Reddy has asked for the motion to be taken up tomorrow again. YSRCP MP YV Subba Reddy again writes to Secretary General Lok Sabha to include in list of business for tomorrow 'no confidence motion in the council of ministers'. pic.twitter.com/6fsIhkk10H — ANI (@ANI) March 19, 2018 ×

No-confidence motion not taken up, both houses of Parliament adjourned till Tuesday

Nepal&#39;s new Maoist Prime Minister Prachanda named a minority leader to the key position of home minister in his first appointments on Thursday, seeking reconciliation after months of protests by southern plainsfolk over a new constitution. 
 
Prachanda,whose real name is Pushpa Kamal Dahal, still uses his wartime pseudonym, which means &quot;fierce&quot;. He has promised to keep his cabinet small, after predecessor K P Oli was criticised for appointing a 32-member coalition with six deputy prime ministers. 
 
After the oath-taking ceremony in capital Kathmandu, Prachanda administered the oath of office to five ministers, including three from his political party and two from the Nepali Congress. 
 
The sixty-one-year-old former rebel commander has vowed to tackle the grievances of the Madhesi minority that demands a greater say in central government by amending the constitution adopted last September. 
 
The Madhesis, who have close cultural and family ties with neighbouring India, have staged protests against the charter, saying it marginalised them by dividing their southern homeland into several states. 
 
Violence, blamed by many Madhesis on the use of excessive police force, claimed more than 50 lives in protests that petered out in February. 
 
Prachanda appointed Bimalendra Nidhi of the centrist Nepali Congress, the biggest coalition party, as deputy prime minister in charge of the home ministry, officials said. 
 
Among those appointed to the cabinet was Krishna Bahadur Mahara from Prachanda&#39;s Maoist party, who will also be a deputy prime minister in charge of the finance ministry. 
 
(Reuters)

He has vowed to tackle the grievances of the Madhesis who demand a greater say in central government?

Nepal's new Maoist Prime Minister Prachanda named a minority leader to the key position of home minister in his first appointments on Thursday, seeking reconciliation after months of protests by southern plainsfolk over a new constitution. Prachanda,whose real name is Pushpa Kamal Dahal, still uses his wartime pseudonym, which means "fierce". He has promised to keep his cabinet small, after predecessor K P Oli was criticised for appointing a 32-member coalition with six deputy prime ministers. After the oath-taking ceremony in capital Kathmandu, Prachanda administered the oath of office to five ministers, including three from his political party and two from the Nepali Congress. The sixty-one-year-old former rebel commander has vowed to tackle the grievances of the Madhesi minority that demands a greater say in central government by amending the constitution adopted last September. The Madhesis, who have close cultural and family ties with neighbouring India, have staged protests against the charter, saying it marginalised them by dividing their southern homeland into several states. Violence, blamed by many Madhesis on the use of excessive police force, claimed more than 50 lives in protests that petered out in February. Prachanda appointed Bimalendra Nidhi of the centrist Nepali Congress, the biggest coalition party, as deputy prime minister in charge of the home ministry, officials said. Among those appointed to the cabinet was Krishna Bahadur Mahara from Prachanda's Maoist party, who will also be a deputy prime minister in charge of the finance ministry. (Reuters)

Nepal's new Prime Minister names core team, seeks reconciliation

<div>Reserve Bank of India chief Raghuram Rajan on Monday defended his record in fighting inflation, and made a case for the&nbsp;monetary policy reforms he has championed, in his first public appearance since announcing that&nbsp;he will step down at the end of his tenure in September. 
 
In a speech, the outgoing&nbsp;governor of India&#39;s central bank, Reserve Bank of India,&nbsp;addressed critics who have accused him of keeping interest rates too high, saying they cannot &quot;have it both ways, want lower inflation as well as lower policy rates.&quot; 
 
 
&quot;The fact that inflation is fairly close to the upper bound of our target zone today suggests we have not been overly hawkish&nbsp;and were wise to disregard advice in the past to cut more deeply,&quot; Rajan said.</div>

<div> 
Consumer inflation hit a near two-year high of 5.76 per cent in May, or the upper end of the central bank&#39;s inflation target of 2 per cent to 6 per cent. 
 
Rajan also strongly defended the upcoming introduction of a monetary policy panel to set interest rates,&nbsp;a policy he has championed,&nbsp;saying &quot;the rewards will be many&quot;, including a more stable policy framework. 
 
(Reuters)</div>

Tells critics of his monetary policy reforms they can't have it 'both ways'

Reserve Bank of India chief Raghuram Rajan on Monday defended his record in fighting inflation, and made a case for the monetary policy reforms he has championed, in his first public appearance since announcing that he will step down at the end of his tenure in September. In a speech, the outgoing governor of India's central bank, Reserve Bank of India, addressed critics who have accused him of keeping interest rates too high, saying they cannot "have it both ways, want lower inflation as well as lower policy rates." "The fact that inflation is fairly close to the upper bound of our target zone today suggests we have not been overly hawkish and were wise to disregard advice in the past to cut more deeply," Rajan said. Consumer inflation hit a near two-year high of 5.76 per cent in May, or the upper end of the central bank's inflation target of 2 per cent to 6 per cent. Rajan also strongly defended the upcoming introduction of a monetary policy panel to set interest rates, a policy he has championed, saying "the rewards will be many", including a more stable policy framework. (Reuters)

Out not down: Indian central bank governor Raghuram Rajan defends his record

<div style="text-align: justify;">If Britons vote to take their country out of the European Union on June 23, no corner of the global financial market complex will emerge unscathed. 
The invisible thread that links assets as diverse as gold, bank stocks, the Japanese Yen and government bonds would be yanked sharply by Brexit, an event the Bank of England said on Thursday risks &quot;adverse spill-overs to the global economy&quot;. 
With global interest rates and bond yields the lowest on record, central banks running low on crisis-fighting tools and the post-2008 economic recovery flagging, that thread could quickly unravel, with serious consequences for all markets.&nbsp; 
So why will the will of one country&#39;s people in one referendum have such a profound impact on global markets? 
The answer is partly how inter-connected global markets are, and partly timing - the world economic cycle is already very long in the tooth and central banks have far fewer options open to them after nearly a decade of extraordinary policy support. 
Interest rates, yields 
 
Global interest rates are their lowest for 5,000 years, according to Bank of America, but central banks could still cut them further. That could mean the US&nbsp;Federal Reserve reversing its slow-starting tightening cycle, and European Central Bank and Bank of Japan rates going deeper into negative territory. 
Lower rates would also depress bond yields even further, tightening the screw on central and commercial banks. 
 
Over $8 trillion worth of sovereign bonds already carry a negative yield, according to JP Morgan. This means holders of Japanese, German and Swiss debt are paying these governments for the privilege of lending to them, in some cases out to 20 years. 
 
They are willing to accept they will not get all their money back. Even deeper negative yields would increase these losses, raising further doubt that these are truly &quot;safe haven&quot; assets. 
 
But the immediate economic and political uncertainty after a Brexit vote would likely be so great that demand for these bonds would rise anyway, pulling yields even lower. Yield curves, the difference between short- and longer-dated bond borrowing costs, would flatten further. 
 
They are already their flattest for years around the developed world, meaning the premium investors expect for holding longer-dated bonds is shrinking. This is often an ominous signal of low inflation or deflation, and slowing economic growth or possibly recession. 
 
If &quot;core&quot; bond yields would likely fall, yields on lower-rated and riskier bonds would likely rise, widening the spread between the two. This would increase the financing pressure on a wide range of companies around the world and governments in euro zone &quot;periphery&quot; countries like Greece, Italy and Spain. 
 
Banks - Central and Commercial 
 
Flat yield curves are bad news for banks, who make money from borrowing short-term at low rates and lending longer-term at higher rates. Financial stocks have been hit hard this year as the curve flattening has accelerated. 
 
Euro zone banks are down 30 per cent this year, Japanese banks 35 per cent, UK banks 20 per cent, and US banks 10 per cent. 
 
Banks are also being squeezed by negative deposit rates. The ECB, Bank of Japan and Swiss National Bank all charge banks for depositing cash. 
 
It may even become cheaper for banks to put billions of yen, Euros or Francs of their customers&#39; cash in vaults- a possibility German lender Commerzbank is examining. 
 
As for central banks, any move deeper into the uncharted world of negative interest rates would be taken reluctantly. 
 
In the case of the ECB, declining yields would further cut the amount of bonds eligible for purchase as part of its quantitative easing stimulus programme. That would make its inflation target of just under 2 per cent much harder to achieve, in turn putting its credibility under even greater scrutiny. 
 
Financial Planning 
 
Just as the 2007-08 financial crisis was caused by unprecedented stress in the banking system, analysts fear Brexit fallout could again threaten to block the global financial system&#39;s plumbing. 
 
Banks have recovered from 2007-08, but stresses are already appearing in more obscure pockets of dollar-based FX and rates markets that are hitting levels more associated with periods of crisis. The premium for Dollars over Yen in the cross currency basis market is its highest in years. 
 
Spreads between Libor rates and overnight index swap (OIS) rates, broadly a measure of investors&#39; perception of credit risk in the banking system, are also widening. In normal conditions, Libor/OIS spreads should be virtually zero. 
 
Stocks 
 
World stocks are in their longest bull run in history that began on March 9, 2009. But Wall Street&#39;s peak was reached over a year ago, profit growth has slumped, and companies are reluctant to reinvest their record cash piles. 
 
European stocks are down 13 per cent this year, Japan down 20 per cent, and Wall Street is flat. Would they be able to withstand the political, economic and investment shock a Brexit would likely deliver, especially with risk appetite so fragile? 
 
Currencies 
 
Like 2008, a vote for Brexit would almost certainly increase demand for the pre-eminent currency in global trade, banking and financial market trading: the Dollar. 
 
Dollar credit to non-US banks stands at almost $10 trillion, according to the Bank for International Settlements, of which $3.3 trillion is in emerging markets. A stronger Dollar will increase the overall debt burden for these companies, and many emerging market countries, who would be forced to draw down their FX reserves to counter the expected capital outflow and downward pressure on their currencies. 
 
Japan&#39;s Yen, another safe-haven currency, would probably rise too, perhaps as much as 14 per cent, according to Goldman Sachs. This would not be welcome in Tokyo, where policymakers are struggling to kill off deflation once and for all, stoke inflation, reflate the economy and heal the banking system. A higher exchange rate would be damaging on all those fronts. 
 
(Reuters)</div>

World stocks are in their longest bull run in history that began on 9 March, 2009

If Britons vote to take their country out of the European Union on June 23, no corner of the global financial market complex will emerge unscathed. The invisible thread that links assets as diverse as gold, bank stocks, the Japanese Yen and government bonds would be yanked sharply by Brexit, an event the Bank of England said on Thursday risks "adverse spill-overs to the global economy". With global interest rates and bond yields the lowest on record, central banks running low on crisis-fighting tools and the post-2008 economic recovery flagging, that thread could quickly unravel, with serious consequences for all markets. So why will the will of one country's people in one referendum have such a profound impact on global markets? The answer is partly how inter-connected global markets are, and partly timing - the world economic cycle is already very long in the tooth and central banks have far fewer options open to them after nearly a decade of extraordinary policy support. Interest rates, yields Global interest rates are their lowest for 5,000 years, according to Bank of America, but central banks could still cut them further. That could mean the US Federal Reserve reversing its slow-starting tightening cycle, and European Central Bank and Bank of Japan rates going deeper into negative territory. Lower rates would also depress bond yields even further, tightening the screw on central and commercial banks. Over $8 trillion worth of sovereign bonds already carry a negative yield, according to JP Morgan. This means holders of Japanese, German and Swiss debt are paying these governments for the privilege of lending to them, in some cases out to 20 years. They are willing to accept they will not get all their money back. Even deeper negative yields would increase these losses, raising further doubt that these are truly "safe haven" assets. But the immediate economic and political uncertainty after a Brexit vote would likely be so great that demand for these bonds would rise anyway, pulling yields even lower. Yield curves, the difference between short- and longer-dated bond borrowing costs, would flatten further. They are already their flattest for years around the developed world, meaning the premium investors expect for holding longer-dated bonds is shrinking. This is often an ominous signal of low inflation or deflation, and slowing economic growth or possibly recession. If "core" bond yields would likely fall, yields on lower-rated and riskier bonds would likely rise, widening the spread between the two. This would increase the financing pressure on a wide range of companies around the world and governments in euro zone "periphery" countries like Greece, Italy and Spain. Banks - Central and Commercial Flat yield curves are bad news for banks, who make money from borrowing short-term at low rates and lending longer-term at higher rates. Financial stocks have been hit hard this year as the curve flattening has accelerated. Euro zone banks are down 30 per cent this year, Japanese banks 35 per cent, UK banks 20 per cent, and US banks 10 per cent. Banks are also being squeezed by negative deposit rates. The ECB, Bank of Japan and Swiss National Bank all charge banks for depositing cash. It may even become cheaper for banks to put billions of yen, Euros or Francs of their customers' cash in vaults- a possibility German lender Commerzbank is examining. As for central banks, any move deeper into the uncharted world of negative interest rates would be taken reluctantly. In the case of the ECB, declining yields would further cut the amount of bonds eligible for purchase as part of its quantitative easing stimulus programme. That would make its inflation target of just under 2 per cent much harder to achieve, in turn putting its credibility under even greater scrutiny. Financial Planning Just as the 2007-08 financial crisis was caused by unprecedented stress in the banking system, analysts fear Brexit fallout could again threaten to block the global financial system's plumbing. Banks have recovered from 2007-08, but stresses are already appearing in more obscure pockets of dollar-based FX and rates markets that are hitting levels more associated with periods of crisis. The premium for Dollars over Yen in the cross currency basis market is its highest in years. Spreads between Libor rates and overnight index swap (OIS) rates, broadly a measure of investors' perception of credit risk in the banking system, are also widening. In normal conditions, Libor/OIS spreads should be virtually zero. Stocks World stocks are in their longest bull run in history that began on March 9, 2009. But Wall Street's peak was reached over a year ago, profit growth has slumped, and companies are reluctant to reinvest their record cash piles. European stocks are down 13 per cent this year, Japan down 20 per cent, and Wall Street is flat. Would they be able to withstand the political, economic and investment shock a Brexit would likely deliver, especially with risk appetite so fragile? Currencies Like 2008, a vote for Brexit would almost certainly increase demand for the pre-eminent currency in global trade, banking and financial market trading: the Dollar. Dollar credit to non-US banks stands at almost $10 trillion, according to the Bank for International Settlements, of which $3.3 trillion is in emerging markets. A stronger Dollar will increase the overall debt burden for these companies, and many emerging market countries, who would be forced to draw down their FX reserves to counter the expected capital outflow and downward pressure on their currencies. Japan's Yen, another safe-haven currency, would probably rise too, perhaps as much as 14 per cent, according to Goldman Sachs. This would not be welcome in Tokyo, where policymakers are struggling to kill off deflation once and for all, stoke inflation, reflate the economy and heal the banking system. A higher exchange rate would be damaging on all those fronts. (Reuters)

Tracing global market thread that could be unraveled by Brexit

New hepatitis C drugs that can cure the liver-destroying disease are revolutionising treatment, but their high price is a huge burden in some countries, particularly in Central and Eastern Europe, according to a new study.

An analysis of prices for two Gilead&nbsp;drugs by World&nbsp;Health&nbsp;Organization (WHO) experts, published on Tuesday, found that while US&nbsp;prices were higher in dollar terms, parts of Europe paid considerably more in &quot;purchasing-power parity&quot; terms.

Purchasing-power parity, or PPP, is used to normalise price comparisons between different economies by taking into account the price of similar baskets of goods instead of market foreign exchange rates.

The PPP-adjusted price in Poland of a treatment course with Gilead&#39;s Harvoni was $118,754, against $72,765 in the U.S., the study found, and it would cost 190.5 percent of the country&#39;s total drugs budget to treat all Polish patients.

Another Gilead drug, Sovaldi, had a similar nominal price in both Norway and Slovakia, but on a PPP basis the price was more than twice as much in Slovakia.

&quot;If you want to treat all patients with hepatitis C, then the prices countries are being asked to pay - even after price negotiations - are still way too high,&quot; said study author Suzanne Hill, the WHO&#39;s director of essential medicines.

The study, which took account of probable confidential discounts on prices, was published in the journal PLOS Medicine.

The cost of Gilead&#39;s hepatitis C drugs has been contentious since the U.S. approval of Sovaldi in 2013, although the company has taken several steps to offer discounts and provide access programmes.

This includes allowing Indian drug companies to manufacture much lower-cost versions of the medicines for sale in developing countries.

Gilead says the price of its treatments reflect their clinical, economic and public&nbsp;health&nbsp;value, arguing that they are cost-effective over the long term.

Hill and colleagues don&#39;t question the value of the drugs but argue that without lower prices, countries will not be able to roll them out on a sufficient scale to minimise the burden of hepatitis C.

&quot;Current prices of these medicines are variable and unaffordable globally,&quot; they concluded.

New hepatitis C drugs that can cure the liver-destroying disease are revolutionising treatment, but their high price is a huge burden in Central and Eastern Europe

New hepatitis C drugs that can cure the liver-destroying disease are revolutionising treatment, but their high price is a huge burden in some countries, particularly in Central and Eastern Europe, according to a new study. An analysis of prices for two Gilead drugs by World Health Organization (WHO) experts, published on Tuesday, found that while US prices were higher in dollar terms, parts of Europe paid considerably more in "purchasing-power parity" terms. Purchasing-power parity, or PPP, is used to normalise price comparisons between different economies by taking into account the price of similar baskets of goods instead of market foreign exchange rates. The PPP-adjusted price in Poland of a treatment course with Gilead's Harvoni was $118,754, against $72,765 in the U.S., the study found, and it would cost 190.5 percent of the country's total drugs budget to treat all Polish patients. Another Gilead drug, Sovaldi, had a similar nominal price in both Norway and Slovakia, but on a PPP basis the price was more than twice as much in Slovakia. "If you want to treat all patients with hepatitis C, then the prices countries are being asked to pay - even after price negotiations - are still way too high," said study author Suzanne Hill, the WHO's director of essential medicines. The study, which took account of probable confidential discounts on prices, was published in the journal PLOS Medicine. The cost of Gilead's hepatitis C drugs has been contentious since the U.S. approval of Sovaldi in 2013, although the company has taken several steps to offer discounts and provide access programmes. This includes allowing Indian drug companies to manufacture much lower-cost versions of the medicines for sale in developing countries. Gilead says the price of its treatments reflect their clinical, economic and public health value, arguing that they are cost-effective over the long term. Hill and colleagues don't question the value of the drugs but argue that without lower prices, countries will not be able to roll them out on a sufficient scale to minimise the burden of hepatitis C. "Current prices of these medicines are variable and unaffordable globally," they concluded.

Burden of pricey hepatitis C drugs heaviest in Eastern Europe

New Delhi, May 28 (IANS) Criticising the central government over attacks on African nationals in India, CPI-M leader Sitaram Yechury on Saturday said that such attacks were a serious issue with international repercussions. 
 
 
&quot;Attacks on Africans in Delhi is a serious issue with international repercussions. The BJP government can`t wish them away,&quot; Yechury said in a tweet. 
 
Yechury`s comments come after a 23-year-old Nigerian student was allegedly beaten by a local over a parking dispute in Hyderabad.&nbsp; 
 
The incident comes days after a 23-year-old Congolese national was beaten to death in south Delhi`s Vasant Kunj area over a minor dispute. 
 
The incidents of attacks has angered African envoys in Delhi who have protested to the Indian government, which has assured protection for the thousands of African students who study in India. 
 
The attack on the Congolese national saw repercussions in Democratic Republic of Congo capital Kinshasa, where Indian shops were attacked a some Indians injured in apparent retaliation earlier this week. 
 
--IANS

Criticising the central government over attacks on African nationals in India, CPI-M leader Sitaram Yechury on Saturday said that such attacks were a serious issue with international repercussions

New Delhi, May 28 (IANS) Criticising the central government over attacks on African nationals in India, CPI-M leader Sitaram Yechury on Saturday said that such attacks were a serious issue with international repercussions. "Attacks on Africans in Delhi is a serious issue with international repercussions. The BJP government can`t wish them away," Yechury said in a tweet. Yechury`s comments come after a 23-year-old Nigerian student was allegedly beaten by a local over a parking dispute in Hyderabad. The incident comes days after a 23-year-old Congolese national was beaten to death in south Delhi`s Vasant Kunj area over a minor dispute. The incidents of attacks has angered African envoys in Delhi who have protested to the Indian government, which has assured protection for the thousands of African students who study in India. The attack on the Congolese national saw repercussions in Democratic Republic of Congo capital Kinshasa, where Indian shops were attacked a some Indians injured in apparent retaliation earlier this week. --IANS

Attacks on Africans a serious issue: Yechury

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