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Reserve Bank hires outside talent to boost market nous

MUMBAI - The Reserve Bank of India (RBI) has hired a former Nomura algorithmic trader, officials said, taking a rare step to recruit externally as it seeks expertise needed to make India's financial markets deeper and more responsive to monetary policy moves.

Markets snap three-day losing streak, close over 1 percent higher 3:42pm IST

REUTERS - India's stock markets rose more than 1 percent on Thursday, snapping three straight sessions of losses, as investors bought beaten-down stocks while upbeat U.S. markets overnight also improved sentiment.

People walk past a chemist shop at a market in Mumbai June 24, 2014. REUTERS/Danish Siddiqui/Files
Markets

India drugmaker stocks exception in Asian rout

The double-digit stock market gains of pharmaceutical giants including Dr. Reddy's Laboratories and Wockhardt stand out in stark relief to the dismal performance of other Asian emerging-market stocks this year.  Full Article 

Australia's Defence Minister Kevin Andrews (C) inspects an honour guard during his ceremonial reception in New Delhi, India, September 2, 2015. REUTERS/Adnan Abidi
Defence

Australia keen to join India, U.S. naval drills

Australia wants to join India, the United States and Japan in joint naval exercises in the Indian Ocean, widening participation in multilateral drills as China's influence in the region grows. Australian Defence Minister Kevin Andrews said expanding the exercises to include more countries would help avoid military mistakes in a region where China and India are increasingly competing.  Full Article 

Migrants storm into a train at the Keleti train station in Budapest, Hungary, September 3, 2015 as Hungarian police withdrew from the gates after two days of blocking their entry.      REUTERS/Laszlo Balogh
Migrant Crisis

Migrants leave Budapest for Austrian frontier

Hundreds of migrants left Budapest aboard a packed train bound for a town near the Austrian border after two days of chaos symbolic of a European asylum system brought to breaking point.  Full Article 

Leader of the Tamil National Alliance (TNA) political party Rajavarothiam Sampanthan speaks during a Foreign Correspondents' Association of Sri Lanka forum in Colombo June 4, 2013. REUTERS/Dinuka Liyanawatte/Files

After 32 years, a Tamil to lead Lanka opposition

Sri Lanka parliament named an ethnic minority Tamil politician as the main opposition leader for the first time in 32 years, a sign of growing reconciliation in the nation following the end of a bloody civil war.  Read 

Soldiers of China's People's Liberation Army (PLA) hold guns while standing in armored vehicles during the military parade to mark the 70th anniversary of the end of World War Two, in Beijing, China, September 3, 2015. REUTERS/Damir Sagolj

China to cut troop levels by 300,000

President Xi Jinping announced on Thursday he would cut troop levels by 300,000 as China held its biggest display of military might in a parade to commemorate victory over Japan in World War Two, an event shunned by most Western leaders.  Full Article | Video 

Roger Federer of Switzerland holds a handful of tennis balls before hitting them towards fans after defeating Leonardo Mayer of Argentina in their first round match at the U.S. Open Championships tennis tournament in New York, September 1, 2015.    REUTERS/Carlo Allegri
U.S. Open

Federer to face Darcis in second round

World number two Roger Federer will continue his bid for a sixth U.S. Open title when he takes on Belgium's Steve Darcis in the second round at the Arthur Ashe Stadium on Thursday.  Full Article 

Plans for 20 km high space elevator tower
Science

Plans for 20 km high space elevator tower

A revolutionary plan to build a 20 kilometre high inflatable structure to propel spacecraft into the atmosphere has been announced by Canadian company Thoth Technology. Jim Drury reports.  Video 

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