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Day lights up Augusta with pain-racked battle for Masters glory

Second round play of the Masters at Augusta National
Golf - Masters - Augusta National Golf Club - Augusta, Georgia, U.S. - April 12, 2019 - During second round play. Jason Day of Australia walks on the 11th hole. REUTERS/Brian Snyder

April 12, 2019

By Amy Tennery

AUGUSTA, Ga. (Reuters) – As he lay on his back wincing in agony at the second tee on Thursday, it was difficult to imagine that Jason Day would muster much of a challenge at Augusta National this week.

Yet for Day, who claimed a share of the second-round clubhouse lead at the Masters on Friday, coping with debilitating pain has become part of the job.

“Sometimes you can be down and depressed because it feels like your world is kind of crumbling around you, and you don’t know if you can come back from injuries,” said Day, who injured his back bending over to kiss his daughter on the practice range on Thursday.

“It feels like your world is ending and you’ve got nothing else.

“It can be very depressing and emotional at times.”

Those are the kind of demons that Day has battled for years.

The former world number one clinched the Players Championship in 2016, but was forced to withdraw from consecutive tournaments later that year when his all-too-familiar back pain flared.

A month ago he withdrew from the Arnold Palmer Invitational after less than seven holes.

Pain management has become part of a daily routine, said Day, in a sport that has caused him physical ailments since he was 13 years old.

From injections and stretches to chiropractic work, the 31-year-old Australian has even tried a balloon-blowing exercise designed to realign his ribcage.

“Trying to get your ribcage down and blow into a balloon, this is very new to me, actually,” said Day. “It sounds very insane when you’re sitting there.”

And surgery? “No. No. No, no, no, no,” said Day. “I want to stay away from that as much as possible.”

Day, who won the 2015 PGA Championship just two months after collapsing from vertigo on the course at the U.S. Open, said he is appreciating his abilities as they are today.

“Sometimes it takes me 10 minutes to get out of bed, some years, just to roll out of bed and get up and move around,” said Day. “I’m walking around. But some years it’s different.”

The world number 14 continues his bid for a first Green Jacket on Saturday, from an enviable seven-under-par position.

“All these golfers out here have some sort of pain, whether it’s knees or feet or wrists or back. Everyone’s playing through a little bit of pain,” said Day. “Sometimes it’s worse than others.”

(Reporting By Amy Tennery; Editing by Toby Davis)

Source: OANN

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GOP Set to Use Venezuela as an Issue Against Dems in Fla.

Republicans are gearing up to use the political and economic crisis in Venezuela as an issue against Democrats in Florida, The Hill is reporting.

Republicans are already pointing out that the unrest in Venezuela should serve as a warning against Democrats pushing for universal healthcare, high taxes on the wealthy, and the Green New Deal, according to The Hill.

The website noted South Florida has been shaped by Cuban exiles who left Communist rule. It is also has the largest Venezuelan population in the U.S.

"So many people here have fled socialist or really far left governments," said Nelson Diaz, the chairman of the Miami-Dade Republican Party.

"To come here and see the Democratic Party shifting and moving quickly in the direction of the governments they fled, I think it's making them realize they may be registered as Democrats, but that it's time to switch."

President Donald Trump was in Miami last month and condemned Venezuelan President Nicolas Maduro. Trump warned "the days of socialism and communism are numbered not only in Venezuela, but in Nicaragua and in Cuba, as well."

"Socialism is about one thing only: power for the ruling class," Trump said. "The more power they get, the more they crave."

But Rep. Debbie Wasserman Schultz, D-Fla., maintained from both parties are standing behind opposition leader Juan Guaidó, according to a report from NBC Miami.

Related Stories

Source: NewsMax Politics

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Auschwitz Memorial shares photos of people walking on train track, urges respect

The Auschwitz Memorial on Wednesday urged tourists to be mindful of where they are while visiting the historic site after people have apparently created photo-ops along its railroad track.

The memorial – which “preserves” the location of the former Nazi concentration camp – posted their message on Twitter and stressed the gravity and the solemnness of the location.

VOLKSWAGEN CEO APOLOGIZES FOR EVOKING AUSCHWITZ SLOGAN AT COMPANY MEETING

They also condemned the use of the train track as “a balance beam.”

“When you come to @AuschwitzMuseum remember you are at the site where over 1 million people were killed. Respect their memory,” the Twitter post said. “There are better places to learn how to walk on a balance beam than the site which symbolizes deportation of hundreds of thousands to their deaths.”

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Alongside the tweet, the memorial also posted a handful of photos that depicted visitors walking along the track.

Source: Fox News World

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Grassley ‘Accepts’ Trump Might Remove Lee Francis Cissna

Sen. Chuck Grassley, R-Iowa, told CNN on Wednesday he has urged President Donald Trump to keep Lee Francis Cissna in his position as the top official at the U.S. Citizenship and Immigration Services, but would "accept" his decision not to.

"I know the president's goals on immigration are the same as mine, pretty much the same as mine I would say, and that the president's gotta have people in place who will do his job, and since his goals are the same as mine, I'm gonna have to accept it," Grassley said.

Trump's ousting of Homeland Security Secretary Kirstjen Nielsen over the weekend has some Republicans concerned about the direction of the department and illegal immigration in the U.S. as the number of immigrants crossing the border continues to rise.

Grassley on Tuesday told The Washington Post he was "very, very concerned" Cissna could be the next to go.

"One, those are good public servants," Grassley said. "Secondly, besides the personal connection I have with them and the qualifications they have, they are the intellectual basis for what the president wants to accomplish in immigration.

"The president has to have some stability and particularly with the number one issue that he's made for his campaign, throughout his two and a half years of presidency. He's pulling the rug out from the very people that are trying to help him accomplish his goal."

Source: NewsMax America

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Delaney: Electoral College Should Go, But Other Priorities Exist

Democratic presidential candidate John Delaney said Wednesday if he were "starting from scratch," he'd choose getting rid of the Electoral College, but he'd rather focus on matters that can get done and affect Americans.

"It requires a constitutional amendment," the former U.S. representative for Maryland told CNN's "New Day." "I'd much rather focus on things that can get done that affect people, [such as] building infrastructure, creating digital privacy legislation in this country, expanding pre-K [education], making sure community college is free for every kid in this country."

However, Delaney did admit that he's as "mad as anyone that happened, that Secretary [Hillary] Clinton got more votes than our president," said Delaney, but small states must agree to end the system and "they're not going to agree with it."

Meanwhile, the businessman said he does not agree with other Democrats who favor a socialistic approach to government, as it's a "false choice" in a capitalist country.

"It's the greatest innovation and job creation machine ever created," said Delaney. "We've always had strong social programs. We have regulation tax policy, workers rights to ensure our citizens have the kind of opportunities I have. I grew up in a blue collar family and have had amazing opportunities, I grew up at a time where we cared more about supporting people."

Meanwhile, the current generation is the first generation of Americans who won't do better than their parents, said Delaney said bringing people together toward a common goal is what's needed in the next president.

Source: NewsMax Politics

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Trump’s Booming Economy has 2020 Dems Struggling

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Remains of Utah pilot killed in WWII finally returned for proper burial

The remains of a World War II pilot shot down in Germany have arrived back in his home state of Utah to be buried.

Army Air Forces 2nd Lt. Lynn W. Hadfield’s remains are set to be buried Thursday, 74 years to the day since Hadfield’s crash, FOX 13 reported.

Hadfield will be buried Thursday — the anniversary of his death — in Bluffdale Veterans Memorial Park cemetery after a funeral service at Larkin Sunset Gardens Mortuary in Sandy. The funeral, with full military honors and a military aircraft flyover, will begin at 11 a.m., three seconds before the time of day that the plane crash was recorded.

BETO O’ROURKE SLAMS ISRAELI LEADER NETANYAHU AS ALLY OF ‘RACISTS’

Hadfield, from Salt Lake City, was piloting a bomber plane from France to Germany just months before the end of World War II when it was struck by anti-aircraft fire and crashed somewhere near the German city of Dulmen.

Hadfield was 26 during his last bomber mission, meant to obstruct German troop movement as Allied forces crossed the Rhine River two days later.

This 1945 photo provided by the Utah National Guard shows Army Air Forces 2nd Lt. Lynn W. Hadfield. The remains of Hadfield, a World War II pilot shot down in Germany, have arrived back in his home state of Utah, where they are expected to be buried. (Utah National Guard via AP)

This 1945 photo provided by the Utah National Guard shows Army Air Forces 2nd Lt. Lynn W. Hadfield. The remains of Hadfield, a World War II pilot shot down in Germany, have arrived back in his home state of Utah, where they are expected to be buried. (Utah National Guard via AP)

A German researcher found evidence of a crash site in 2016 in Hulsten-Reken, about 10 miles away.

It was Hadfield’s plane.

A DNA analysis confirmed the remains belonged to Hadfield and his crew members.

The excavation team also recovered Hadfield’s officer wings and his ID tag, which were given to his relatives.

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“I didn’t think that after 74 years he would come back, and I would be here to see it,” said Mary Ann Turner, Hadfield’s daughter.

Turner was 2 years old when her father was killed.

“It gives me peace that I haven’t known my whole life,” Turner said.

The Associated Press contributed to this report.

Source: Fox News National

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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)

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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)

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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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