Category Archives: Middle East

Stocks, Rupee Reverse Gains as Modi Victory Rally Evaporates

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Indian equities declined and the rupee weakened as investors sold the rally triggered by Prime Minister Narendra Modi’s second landslide victory, an outcome that was partly priced in after exit polls this week. The Sensex fell 0.8% at the close in Mumbai, erasing a gain of as much as 2.6% that lifted the gauge above 40,000 for the first time. The NSE Nifty 50 Index lost 0.7% after briefly rising above the 12,000 mark.

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Back in 2015, Iran Staged a Massive Mock Attack on a U.S. Aircraft Carrier

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Some scary history. Iran has carried out a massive attack on a mock version of an American Nimitz-class aircraft carrier. Tehran wanted everyone to know about it—state TV broadcasted the military exercise live.(This first appeared back in 2015.)It’s a revealing look at Iranian naval assault tactics, involving several waves of ships backed by helicopters and shore-launched missiles. The timing isn’t a coincidence. The United States and Iran are deadlocked over a deal to curb Tehran’s nuclear program.The Iranians built the giant, 1:1-scale mock-up of the carrier on top of a barge almost one year ago. Photos released from Iranian news …read more

Narendra Modi wins landslide victory in Indian election

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Narendra Modi swept back into power on Thursday as his Hindu nationalist party made unexpected gains in a landslide victory. After a mammoth six-week election in which over 600 million people voted, all the results were tallied on Thursday and within hours the TV networks predicted a win for Mr Modi’s Bharatiya Janata Party (BJP). Official data from the Election Commission showed Modi’s Bharatiya Janata Party ahead in 300 of the 542 seats up for grabs, up from the 282 it won in 2014 and more than the 272 seats needed for a majority in the lower house of parliament. …read more

Panasonic joins firms stepping away from Huawei after US ban

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Panasonic joins firms stepping away from Huawei after US ban

Japan’s Panasonic on Thursday said it would stop supplying some components to Huawei, joining a growing list of firms distancing themselves from the Chinese telecoms giant after a US ban over security concerns. The announcement came a day after four major Japanese and British mobile carriers said they would delay releasing new Huawei handsets. “We’ve stopped all business transactions with Huawei and its 68 group companies… that are subject to the US government ban,” Panasonic spokesman Joe Flynn told AFP.

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Pound Gains as May's Latest Offer Revives Brexit Deal Chances

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Sterling gained the most in more than two weeks before the rally eased as May spoke in London. Lawmakers have already voted against holding a second referendum in a series of choices on Brexit options, though last month there were only 12 votes in it. Sterling has been weighed down this month as the prospect of a more hardline Brexit candidate replacing May has increased the risk of a no-deal exit from the European Union.

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