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IMF: global economy in a synchronised slowdown

Washington: The global economy is in a “synchronised slowdown” amidst growing trade barriers and heightened geopolitical tensions, the International Monetary Fund (IMF) warned on Tuesday as it downgraded the 2019 growth rate to three per cent, the slowest pace since the global financial crisis. “This is a serious climb down from 3.8 per cent in 2017, when the world was …

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India’s growth projection revised to 6.1%

Washington: The International Monetary Fund (IMF) on Tuesday slashed India’s GDP growth projection for the year 2019 to 6.1 per cent, which is 1.2 per cent down from its April projections. The IMF in April said India will grow at 7.3 per cent in 2019. However, three months later it projected a slower growth rate for India in 2019, a …

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China urges Turkey to ‘stop action’

Beijing: China on Tuesday called on Turkey to stop its military action in northern Syria and “return to the correct way of political resolution”, with Ankara’s operation against Kurdish militants in its seventh day. Turkey launched an assault last week against the Syrian Kurdish People’s Protection Units (YPG), which it sees as a “terrorist” offshoot of Kurdish insurgents in its …

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Syria Kurds defend key town as Turkey ignores US

Tal Tamr (Syria): Kurdish forces held out in a key border town Tuesday seven days into a deadly Turkish invasion of northeastern Syria that has caused mass displacement and reshaped the political map. The United States slapped sanctions on its NATO ally in a bid to stop an assault that its own troop withdrawal from the area triggered but Ankara …

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Imran apprises William, Kate about relations with India, Afghanistan

Islamabad: Pakistan Prime Minister Imran Khan on Tuesday apprised Prince William and his wife Kate Middleton about his country’s relations with India and Afghanistan as the royal couple began their first visit to the country, described as the “most complex”. “Their Royal Highnesses (TRH) the Duke and Duchess of Cambridge today began their tour of Pakistan with a day of …

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Indian-origin taxi driver convicted of sexual assault in UK

London: An Indian-origin taxi driver has been convicted of sexually assaulting a female passenger when she was in an “extremely vulnerable condition” during a ride back to her home in London. Temur Shah, who worked for ride hailing company Uber, was found guilty at Isleworth Crown Court in west London on Monday after a week-long trial. The 45-year-old has been …

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US imposes sanctions on Turkey to ‘swiftly destroy’ its economy

Washington: The US is ready to “swiftly destroy” Turkey’s economy in response to the NATO ally’s military offensive in northern Syria, President Donald Trump has said, as he imposed sanctions on Turkish ministries and senior officials, proposed to raise steel tariffs and end negotiations on a $100 billion trade deal with Ankara. Trump also phoned his Turkish counterpart Recep Tayyip …

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India-born Abhijit, wife Esther, Kremer win Economics Nobel

Stockholm: Indian-American innovative Massachusetts Institute of Technology (MIT) economist Abhijit Banerjee, his wife Esther Duflo and Harvard professor Michael Kremer jointly won the 2019 Nobel Economics Prize on Monday “for their experimental approach to alleviating global poverty”. Banerjee and French-American Duflo, both work at the US-based MIT while Kremer is at Harvard University. It was “wonderful” to receive the award, …

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Over 100 British-Indian bodies challenge Corbyn’s Kashmir stance

London: Over 100 British-Indian professional and community organisations on Monday wrote to the UK Opposition Leader, Jeremy Corbyn, to condemn the Labour Party’s stance on Kashmir in the wake of the Indian government revoking the special status of Jammu and Kashmir. The Labour Party on September 25 passed an emergency motion on Kashmir calling for party leader Corbyn to seek …

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S Korea Justice Minister quits amid corruption scandal

Seoul: South Korean Justice Minister Cho Kuk resigned on Monday amid an investigation for alleged corruption offences involving him and his family that has led to massive protests in the country and a decline in the government’s popularity. President Moon Jae-in appointed the 54-year-old Cho on September 9 with the task of reforming the prosecutor’s office, a body that wields …

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