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Hall of Famer Howell dies at 86

Former New York Rangers Howell and Bathgate smile during number retirement ceremony before Rangers' game against Maple Leafs in New York
Former New York Rangers Harry Howell (R) and Andy Bathgate (L) smile after their numbers were raised to the rafters during a ceremony to retire their numbers at Madison Square Garden before the Rangers' NHL hockey game against the Toronto Maple Leafs in New York, February 22, 2009. REUTERS/Mike Segar

March 11, 2019

Hall of Fame defenseman Harry Howell, known for his durability and toughness, has died. He was 86.

Howell had been battling dementia and was living at a long-term assisted care facility close to his hometown of Hamilton, Ontario. The Hamilton Spectator said Howell died late Saturday night.

The seven-time All-Star played in 1,411 games over 21 seasons (1952-73) and had 82 goals and 263 assists (345 points). Howell won the Norris Trophy as the league’s top defenseman for the 1966-67 season.

Howell was known as “Harry the Horse” due to his dependability, as he played in all 70 regular-season games in nine of his first 15 seasons with the New York Rangers. He played the first 17 seasons of his career for the Rangers.

“The National Hockey League mourns the passing of legendary defenseman, consummate professional, and Hockey Hall of Famer Harry Howell,” NHL commissioner Gary Bettman said in a statement released Sunday. “He will be remembered not only for his consistency and leadership on the ice but the ultimate class with which he carried himself.”

Howell also played for Golden Seals’ franchise based in Oakland (1969-71) for 1 1/2 seasons before playing 2 1/2 seasons for the Los Angeles Kings (1971-73). He then played three seasons in the World Hockey Association, serving as player/coach for New York- New Jersey (1973-74) and San Diego (1974-75) before playing one final season for Calgary (1975-76).

Howell was inducted into the Hockey Hall of Fame in 1979. The Rangers retired Howell’s No. 3 in 2009.

“One of the most iconic players in franchise history, Harry’s Hall of Fame accomplishments on the ice were exceeded only by the tremendous gentleman he was off the ice,” Rangers president Glen Sather said in a statement. “I was privileged to have worked with Harry for over a decade in both Edmonton and New York and treasure our memories together.”

Howell had an 11-game coaching stint for the Minnesota North Stars — the club went 3-6-2 — in 1978-79. He also spent time as a scout, including a stint with Edmonton during Sather’s time with that franchise before later serving in the same role under Sather with the Rangers.

–Field Level Media

Source: OANN

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Jailed Abortionist Hopes Democrats’ Infanticide Support Will Set Him Free

In an email obtained by The Daily Caller, infamous abortion doctor Kermit Gosnell expresses his concern that more states aren’t passing late-term abortion laws.

Gosnell, the main subject of the film “Gosnell: The Trial of America’s Biggest Serial Killer,” doubts “conservative Pennsylvania” will “liberalize” its stance on up-to-birth abortions anytime soon.

The email was part of a correspondence between Gosnell, who is being held at the Pennsylvania Department of Corrections, and producers of the film.

In 2013, Gosnell was convicted of first-degree murder after carrying out possibly hundreds of illegal, late-term abortions.

The abortionist was also charged with involuntary manslaughter after a woman died while under his care.

In the 2017 book, Gosnell: The Untold Story of America’s Most Prolific Serial Killer, the disgraced doctor voiced optimism for an eventual vindication of his heinous actions.

“It helps that I very strongly believe myself to be innocent of the heinous crimes of which I am accused…I continue to feel optimistic of the eventual outcome…the vindication of what I’ve done, why I’ve done it and how [it] will become accepted within my lifetime,” he said.

Now, following the passage of late-term abortion laws in New York and Virginia, Gosnell is unhappy with Pennsylvania’s current legal stance on the issue.

Meanwhile, the writer and producer of the film, “Gosnell,” Phelim McAleer and Ann McElhinney, are questioning whether the murderous doctor would even be convicted in today’s pro-abortion political climate.

McAleer noted, “Ralph Northam put Gosnell into a grey area. Ralph Northam showed it was OK for a baby to die after a botched abortion.”

“Previously, it had been accepted that a baby that survived an abortion could not be killed either by action or inaction,” McAleer continued.

In February of 2019, Senate Democrats blocked the Born-Alive Survivors Protection Act, which would have prevented the killing of newborns who survive abortions.

President Trump voiced his disdain for the decision in the tweet below.

Time will tell if the state of Pennsylvania follows the lead of liberal areas like New York and opens the discussion for Gosnell’s release.



“Gosnell: The Trial of America’s Biggest Serial Killer” is a political courtroom drama that exposes the lies & politics that protect murder if done in the service of abortion.

One of the producers, Phelim McAleer, who also co-authored a book about the abortionist convicted of murder, joined David Knight to explain the establishment attempts to block the movie from crowdfunding, censor on social media, block media buys of ads and shut down screenings.

Also, one of the stars of the film, Dean Cain, was attacked by Tom Arnold.

Source: InfoWars

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Office building catches fire in Bangladesh capital

A fire has broken out in an office building in Bangladesh's capital, and some people are feared trapped inside.

An official in the Fire Department control room, Ershad Hossain, says the FR Tower in Dhaka's Banani area caught fire Thursday afternoon.

There was no immediate confirmation of casualties, although some reports said several people fell from the building trying to escape the fire.

Witness Sajib Hasan said people were seen shouting for help from windows on the upper floors of the building.

Military helicopters joined the rescue operation.

Source: Fox News World

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Deutsche Bahn asks Siemens, Bombardier to fix train quality issues

FILE PHOTO: The logo of German railway Deutsche Bahn is seen in a watch at the main train station in Frankfurt
FILE PHOTO: The logo of German railway Deutsche Bahn is seen in a watch at the main train station in Frankfurt, Germany, March 27, 2019. REUTERS/Kai Pfaffenbach/File Photo

April 4, 2019

BERLIN (Reuters) – German railway operator Deutsche Bahn has asked Siemens and Bombardier to fix quality issues with its newest ICE 4 high-speed trains, the state-owned company said on Thursday.

Some of the trains’ carriage frames do not meet agreed quality requirements, Deutsche Bahn said, adding that safety was not affected.

It will however not accept delivery of any more new ICE 4 trains for the time being, the company said.

(Reporting by Thomas Seythal; editing by Thomas Escritt)

Source: OANN

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The week in pictures, Feb. 16 – Feb. 22

https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/02/918/516/11_AP19048859923720.jpg?ve=1&tl=1

Ryan Blaney, Aric Almirola, Paul Menard, David Ragan, and Matt DiBenedetto start a multi-car wreck between Turns 3 and 4 during the Daytona 500 auto race at Daytona International Speedway, Feb. 17, 2019.

AP Photo/Phelan M. Ebenhack

https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/02/918/516/11_AP19048859923720.jpg?ve=1&tl=1

Source: Fox News World

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Michael Cohen Backs Away From Parts of His Guilty Plea

President Donald Trump's one-time personal attorney, Michael Cohen, has walked back part of his guilty plea, claiming he did not evade taxes and a criminal charge related to a home-equity line of credit was "a lie," according to The Wall Street Journal.

The newspaper said Cohen made his comments in a phone call to actor and comedian Tom Arnold, a vocal critic of Trump. The newspaper said the March 25 call was recorded without Cohen's knowledge by Arnold.

Cohen has pleaded guilty to eight criminal charges, including campaign-finance violations regarding hush-money payments to former porn star Stormy Daniels and Playboy centerfold Karen McDougal. He has also admitted to five counts of evading personal income taxes and one count of understating his expenses and debt in an application for a home-equity line of credit, or Heloc, the newspaper noted.

"There is no tax evasion," he said during the call. "And the Heloc? I have an 18% loan-to-value on my home. How could there be a Heloc issue? How? Right? . . . It's a lie."

During the call, Cohen, who is preparing for a three-year prison term, confessed he felt like "a man all alone."

"You would think that you would have folks, you know, stepping up and saying, 'You know what, this guy's lost everything,'" Cohen said.

"My family's happiness, and my law license. I lost my business . . . my insurance, my bank accounts, all for what? All for what? Because Trump, you know, had an affair with a porn star? That's really what this is about."

Source: NewsMax America

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Bomb disposal team at Russian consulate in Athens

Greek police say a bomb disposal squad has been sent to the Russian consulate in Athens after cameras showed a suspicious object believed to be a hand grenade being thrown over the perimeter fence overnight.

Police said Friday morning that the consulate's cameras showed two people on a motorbike throwing a small object over the fence, reportedly causing minor damage. Authorities cordoned off the area around the consulate, located in a suburb north of the city center.

Police said they were also examining whether a motorbike found partially burned in a central Athens neighbourhood was related to the incident.

Greece has a long history of small groups that periodically attack symbols of state authority, wealth or foreign diplomacy. They usually plant small explosive devices that do not cause injuries.

Source: Fox News World

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Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London
Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London, Britain, April 24, 2019. REUTERS/Gerhard Mey

April 26, 2019

By Hanna Rantala

LONDON (Reuters) – Irish rockers The Cranberries are saying goodbye with their final album released on Friday, a poignant tribute to lead singer Dolores O’Riordan who died last year.

“In the End” is the eighth studio album from the band that rose to fame in the early 1990s with hits likes “Zombie” and “Linger”, and includes the final recordings by O’Riordan, who drowned in a London hotel bath in January 2018 due to alcohol intoxication.

Work on the album began during a 2017 tour and by that winter, O’Riordan and guitarist Neil Hogan had penned and demoed 11 tracks.

With O’Riordan’s vocals recorded, Hogan, bassist Mike Hogan and drummer Fergal Lawler completed the album in tribute to her.

“When we realized how strong the songs were, that was the deciding factor really… There was no point… trying to ruin the legacy of the band,” Noel Hogan said in an interview.

“It was obvious that Dolores wanted this album done because when you hear the album, you hear the songs and how strong they are, and she was very, very excited to get in and record this.”

The Cranberries formed in Limerick in 1989 with another singer. O’Riordan replaced him a year later and the group went on to become Ireland’s best-selling rock band after U2, selling more than 40 million records.

O’Riordan, known for her strong distinctive voice singing about relationships or political violence, was 46 when she died.

“She was actually in quite a good place mentally. She was feeling quite content and strong and looking forward to a new phase of her life,” Lawler said.

“A lot of the lyrics in this album are about things ending… people might read into it differently but it was a phase of her personal life that she was talking about.”

The group previously announced their intention to split after the release of “In The End”.

“We are absolutely gutted we can’t play (the songs) live because that’s something that’s been a massive part of this band from day one,” Noel Hogan said.

“A few people have said to us about maybe even doing a one off where you have different vocalists… as kind of guests of ours. A year ago that’s definitely something we weren’t going to entertain but I don’t know, I think it’s something we need to go away and take time off for the summer and have a think about.”

Critics have generally given positive reviews of the album; NME described it as “(seeing) the band’s career go full-circle” while the Irish Times called it “an unexpected late career high and a remarkable swan song for O’Riordan”.

Their early songs still play on the radio. This week, “Dreams” was performed at the funeral of journalist Lyra McKee, who was shot dead in Londonderry last week as she watched Irish nationalist youths attack police following a raid.

“We wrote them as kids, as a hobby and 30 years later they are on radio and on TV, like all the time… That’s far more than any of us ever thought we would have,” Noel Hogan said.

“That would make Dolores really happy because she was very precious about those songs. Her babies, she called them and to have that hopefully long after we’re gone… that’s all any band can wish for.”

(Reporting by Hanna Rantala; additoinal reporting by Marie-Louise Gumuchian; Writing by Marie-Louise Gumuchian; Editing by Susan Fenton)

Source: OANN

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2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston
2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston, Texas, U.S. April 24, 2019. REUTERS/Loren Elliott

April 26, 2019

By Joshua Schneyer and M.B. Pell

NEW YORK (Reuters) – Senator Elizabeth Warren will introduce a bill Friday that offers new protections for U.S. military families facing unsafe housing, following a series of Reuters reports revealing squalid conditions in privately managed base homes.

The Reuters reports and later Congressional hearings detailed widespread hazards including lead paint exposure, vermin infestations, collapsing ceilings, mold and maintenance lapses in privatized base housing communities that serve some 700,000 U.S. military family members.

(View Warren’s military housing bill here. https://tmsnrt.rs/2Dy5aht)

(Read Reuters’ Ambushed at Home series on military housing here. https://www.reuters.com/investigates/section/usa-military)

The Massachusetts Democrat’s bill would mandate both regular and unannounced spot inspections of base homes by certified, independent inspectors, holding landlords accountable for quickly fixing hazards. The military’s privatization program for years allowed real estate firms to operate base housing with scant oversight, Reuters found, leaving some tenants in unsafe homes with little recourse against landlords.

The bill would also require the Department of Defense and its private housing operators to publish reports annually detailing housing conditions, tenant complaints, maintenance response times and the financial incentives companies receive at each base. The provisions aim to enhance transparency of housing deals whose finances and operations the military had allowed to remain largely confidential under a privatization program since the late 1990s.

The measure would also require private landlords to cover moving costs for at-risk families, and healthcare costs for people with medical conditions resulting from unsafe base housing, ensuring they receive continuing coverage even after they leave the homes or the military.

“This bill will eliminate the kind of corner-cutting and neglect the Defense Department should never have let these private housing partners get away with in the first place,” Warren said in a statement Friday.

The proposed legislation comes after February Senate hearings where Warren, a member of the Senate Armed Services Committee who is seeking the Democratic nomination for the 2020 U.S. presidential election, slammed private real estate firms for endangering service families, and sought answers about why military branches weren’t providing more oversight.

Her legislation would direct the Defense Department to allow local housing code enforcers onto federal bases, following concerns they were sometimes denied access. Warren’s office said a companion bill in the House of Representatives would be introduced by Rep. Deb Haaland, Democrat of New Mexico.

In response to the housing crisis, military branches are developing a tenant bill of rights and hiring hundreds of new housing staff. The branches recently dispatched commanders to survey base housing worldwide for safety hazards, resulting in thousands of work orders and hundreds of tenants being moved. The Defense Department has pledged to renegotiate its 50-year contracts with private real estate firms.

Congress has been quick to take its own measures. Earlier legislation proposed by senators Dianne Feinstein and Kamala Harris of California, along with Mark Warner and Tim Kaine of Virginia, would compel base commanders to withhold rent payments and incentive fees from the private ventures if they allow home hazards to persist.

(Editing by Ronnie Greene)

Source: OANN

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FILE PHOTO: Offices of Deloitte are seen in London
FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo

April 26, 2019

By Noor Zainab Hussain and Tanishaa Nadkar

(Reuters) – Deloitte quit as Ferrexpo’s auditor on Friday, knocking its shares by more than 20 percent, days after saying it was unable to conclude whether the iron ore miner’s CEO controlled a charity being investigated over its use of company donations.

Blooming Land, which coordinates Ferrexpo’s Corporate Social Responsibility (CSR) program, came under scrutiny after auditors found holes in the charity’s statements.

Ferrexpo on Tuesday said findings of an ongoing independent investigation launched in February indicated some Blooming Land funds could have been “misappropriated”. It did not provide any details or publish its findings.

Shares in Ferrexpo, the third largest exporter of pellets to the global steel industry, were 23.4 percent lower at 206.1 pence at 1022 GMT following news of Deloitte’s resignation.

“Ferrexpo’s shares are deeply discounted vs peers … following the resignation of Deloitte, we expect downside risks to dominate Ferrexpo’s shares near term.” JP Morgan analyst Dominic O’Kane said in a note on Friday.

Swiss-headquartered Ferrexpo did not provide a reason for the resignation of Deloitte, which declined to comment, while Blooming Land did not respond to a request for comment.

Funding for Blooming Land’s CSR activities is provided by one of Ferrexpo’s units in Ukraine and Khimreaktiv LLC, an entity ultimately controlled by Ferrexpo’s CEO and majority owner Kostyantin Zhevago, Ferrexpo said on Tuesday.

Ferrexpo’s board has found that Zhevago did not have significant influence or control over the charity, but Deloitte said it was unable reach a conclusion on this.

Reuters was not immediately able to contact Zhevago.

In a qualified opinion, a statement addressing an incomplete audit, Deloitte said it had been unable to conclude whether $33.5 million of CSR donations to Blooming Land between 2017 and 2018 was used for “legitimate business payments for charitable purposes”.

Deloitte said on Tuesday that total CSR payments made to Blooming Land by Ferrexpo since 2013 total about $110 million.

Ferrexpo, whose major mines are in Ukraine, has said that the investigation was ongoing and new evidence pointed to potential discrepancies.

Zhevago, 45, who ranked 1,511 on Forbes magazine’s list of billionaires for 2019 with a net worth of $1.4 billion, owns the FC Vorskla soccer club and has been a member of Ukraine’s parliament since 1998.

(Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru and additional reporting by Pavel Polityuk in Kiev; editing by Gopakumar Warrier, Bernard Orr)

Source: OANN

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Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba
Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba, Mozambique April 26, 2019 in this still image obtained from social media. SolidarMed via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES

April 26, 2019

By Emma Rumney and Stephen Eisenhammer

JOHANNESBURG/LUANDA (Reuters) – Cyclone Kenneth killed at least one person and left a trail of destruction in northern Mozambique, destroying houses, ripping up trees and knocking out power, authorities said on Friday.

The cyclone brought storm surges and wind gusts of up to 280 km per hour (174 mph) when it made landfall on Thursday evening, after killing three people in the island nation of Comoros.

It was the most powerful storm on record to hit Mozambique’s northern coast and came just six weeks after Cyclone Idai battered the impoverished nation, causing devastating floods and killing more than 1,000 people across a swathe of southern Africa.

The World Food Programme warned that Kenneth could dump as much as 600 millimeters of rain on the region over the next 10 days – twice that brought by Cyclone Idai.

One woman in the port town of Pemba died after being hit by a falling tree, the Emergency Operations Committee for Cabo Delgado (COE) said in a statement, while another person was injured.

In rural areas outside Pemba, many homes are made of mud. In the main town on the island of Ibo, 90 percent of the houses were destroyed, officials said. Around 15,000 people were out in the open or in “overcrowded” shelters and there was a need for tents, food and water, they said.

There were also reports of a large number of homes and some infrastructure destroyed in Macomia district, a mainland district adjacent to Ibo.

A local group, the Friends of Pemba Association, had earlier reported that they could not reach people in Muidumbe, a district further inland.

Mark Lowcock, United Nations under-secretary-general for humanitarian affairs, warned the storm could require another major humanitarian operation in Mozambique.

“Cyclone Kenneth marks the first time two cyclones have made landfall in Mozambique during the same season, further stressing the government’s limited resources,” he said in a statement.

FLOOD WARNINGS

Shaquila Alberto, owner of the beach-front Messano Flower Lodge in Macomia, said there were many fallen trees there, and in rural areas people’s homes had been damaged. Some areas of nearby Pemba had no power.

“Even my workers, they said the roof and all the things fell down,” she said by phone.

Further south, in Pemba, Elton Ernesto, a receptionist at Raphael’s Hotel, said there were fallen trees but not too much damage. The hotel had power and water, he said, while phones rang in the background. “The rain has stopped,” he added.

However Michael Charles, an official for the International Federation of the Red Cross and Red Crescent Societies (IFRC), said heavy rains over the next few days were likely to bring a “second wave of destruction” in the form of flooding.

“The houses are not all solid, and the topography is very sandy,” Charles said.

In the days after Cyclone Idai, heavy inland rains prompted rivers to burst their banks, submerging entire villages, cutting areas off from aid and ruining crops. There were concerns the same could happen again in northern Mozambique.

Before Kenneth hit, the government and aid workers moved around 30,000 people to safer buildings such as schools, however authorities said that around 680,000 people were in the path of the storm.

(Reporting by Emma Rumney and Stephen Eisenhammer; Writing by Emma Rumney; Editing by Janet Lawrence and Alexandra Zavis)

Source: OANN

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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