GENEVA - The World Trade Organization adopted the first worldwide trade reform in its history on Thursday, after years of stalemate, months of deadlock and a final day's delay following an eleventh-hour objection.
TOKYO/SINGAPORE - U.S. crude futures tumbled nearly $6 on Friday to the lowest since May 2010 after OPEC decided against cutting output, leaving the market with excess supply that deepened oil's months-long rout.
Gunmen wearing army uniforms attacked an Indian army base near the border with Pakistan, leaving ten people dead in the worst militant violence in in more than a year. Three soldiers and three civilians were shot dead, said Jammu and Kashmir CM Omar Abdullah. Full Article
A bird flu virus found in India this week is the H5N1 strain that can be transmitted to humans, the World Organisation for Animal Health (OIE) said on Thursday. However, the organisation said it was not concerned about the situation, because India had faced outbreaks of the virus before. No human case has been reported since at least 2003. Full Article
Anticipating data out on Friday will show weakening economic growth, the finance ministry will argue for an interest rate cut, but bankers and company executives say the key to recovery lies in how fast the government acts on reforms. Full Article | Reuters poll on GDP data
Reuters spoke to Timmy Sarna, managing director of DLF Brands, which runs the operations of “fast-fashion” clothing store Forever21 in India. Sarna discussed the recent opening of Forever21’s first store in Bangalore, why store shopping beats online shopping for now, and the company’s expansion plans for Hyderabad, Pune and other cities. Interview
Tensions eased in the St Louis suburb of Ferguson after two nights of violence and looting sparked by racially charged anger over a grand jury's decision not to charge a white police officer for fatally shooting an unarmed black teenager. Full Article | Brown's parents speak
A brief meeting between India's Prime Minister Narendra Modi and his Pakistani counterpart appears to have salvaged a summit of South Asian leaders, with all eight countries clinching a last-minute deal to create a regional electricity grid. Full Article | Video
In his quest for an Indian identity, painter Jamini Roy rebelled against the British academic training and took to the local, folk idiom. Broad brush strokes, simple forms, stretched eyes, decorative borders and use of flat colours are the dominant motifs in an exhibition of the artist’s works being displayed in Delhi. Full Article
Nandita Das might be one of the few Indian actors known outside of India, but she isn’t sure that she wants to be identified as an actor. Das has myriad interests besides acting and directing, the latest of which is CinePlay, a new venture started by her husband. In a telephone interview from the United States, Das spoke about CinePlay and why she isn’t doing too many films. Read interview
The Age of Obama, once heralded as the dawn of a new “post-racial” America, has proven to be far more complex than his supporters and critics could have imagined just six years ago. Ferguson has exposed racial and class divisions in the nation that Obama’s soaring rhetoric gracefully elided during his 2008 presidential campaign. Commentary
One of the world’s biggest cities is running out of water. Sao Paulo, a city of 20 million people, could run dry within weeks. The humanitarian and economic cost would be immense. The fiasco should be a global wake-up call for other metropolises. The immediate cause of the crisis is a year-long drought. Full Article
Pulitzer Prize winning author Jhumpa Lahiri is one of five frontrunners for next year's DSC Prize, one of South Asia's biggest literary awards, according to the shortlist announced in London. Full Article