Rupee slumps to record low, cautious RBI steps in
A cautious Reserve Bank of India (RBI) with limited foreign exchange reserves stands as India's main line of defence against a currency at record lows - and markets are fretting it can't stand strong enough unless the government moves firmly to boost foreign inflows. Article
BSE Sensex falls more than 500 points on Fed; flows key
MUMBAI - The BSE Sensex fell more than 2 percent on Thursday, the most in a day in nearly 21 months as blue chips such as Reliance Industries slumped after the U.S. Federal Reserve signalled a tapering of its monetary stimulus, stoking fears of portfolio outflows.
India may have to wait to join nuclear body
Some states appear to be sceptical about letting nuclear-armed India into an influential body regulating sensitive atomic trade, diplomats said, suggesting Indian membership may not be imminent. The U.S., Britain, France are among countries pushing for allowing India to join the 48-nation Nuclear Suppliers Group (NSG), a move that would boost the Asian nation's status as an atomic power. Full Article
Kejriwal's party readies for election with reforms
The Aam Aadmi Party (AAP) is gearing up for Delhi election this year with an array of candidates chosen for their honesty. With graft scandals embarrassing Congress and BJP, the AAP is taking a more grassroots approach to the problem: weed out the bad ones before they become electoral candidates. Will this new approach work for him, asks Shashank Chouhan. Blog
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How Syrian Islamists govern with guile and guns
Using a mix of intimidation and organisation, alliances of Islamist brigades are filling the vacuum in areas where Syrian President Bashar al-Assad's army has withdrawn and more secular rebels have failed to provide order. Full Article | Slideshow: Battle for Syria
France tells Google to change privacy policy
France's data protection watchdog orderes Google to change its privacy policy or face fines, leading a Europe-wide push to get it to clarify its intentions and methods for collecting data. Full Article
Singapore haze may last for weeks: PM
A haze blanketing Singapore from fires in Indonesia could persist for weeks or even longer, the PM said, warning of consequences if Singapore-linked firms were responsible for the burning. Full Article
Latest Headlines
Surveillance Programme
India sets up elaborate system to tap phone calls, e-mail
India has launched a wide-ranging surveillance programme that will give its security agencies and even income tax officials the ability to tap directly into e-mails and phone calls without oversight by courts or parliament, several sources said. Full Article
Monsoon Mayhem
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Flooding in India
Early monsoon rains have swollen the Ganges, swept away houses, killed scores and left thousands stranded. Rains, which were 48 percent above normal across India up until June 16, are expected to ease up in the next week, according to weather department officials. See pictures
What does Apple really owe taxpayers? A lot.
Even as Apple sizzles in the Senate hot seat for alleged tax evasion and finds itself the object of a Justice Department investigation into price-fixing e-books, the company still enjoys a vast reservoir of good faith with the American people. Commentary
The price of ignoring climate change
Climate change endangers much of the world economy. Economists calculate that a 3.5-degree Fahrenheit rise in global temperature would reduce global gross domestic product by 1 percent. Ten of the 15 largest cities in the developing world, including Mumbai, are at risk of flooding from rising sea levels. Rising seas are swallowing low-lying land in countries such as Bangladesh and India. Commentary
Rate rigging costs more than money
In cash terms, the manipulation of supposedly objective reference rates and prices is a petty crime: relatively small gains for a few and microscopic losses for many. Ethically, though, the tolerance of untrustworthy behaviour makes the industry look particularly bad. Commentary
Hard currency status a wishful dream for rupee
Despite India’s substantial economic progress over the decades to emerge today among the ten largest economies in the world in nominal GDP terms and the top three in PPP terms, the rupee has not kept pace with this progress and has witnessed periods of high volatility. Until India traverses the distance from a trade-deficit economy to a neutral or trade-surplus nation, the rupee will always remain unhinged. Column
Serena apologizes for rape remark
Serena Williams has apologized for comments she made in a forthcoming interview in which she appeared to assign blame to the 16-year-old victim in the Steubenville, Ohio, rape case for being drunk. Article
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