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AIG paid CEO Duperreault $20.9 million in 2018: filing

FILE PHOTO: Brian Duperreault, President and Chief Executive Officer (CEO) of American International Group (AIG) speaks at the UJA-Federation of New York General Insurance Annual Event in New York
FILE PHOTO: Brian Duperreault, President and Chief Executive Officer (CEO) of American International Group (AIG) speaks at the UJA-Federation of New York General Insurance Annual Event in New York City, New York, U.S., June 5, 2018. REUTERS/Mike Segar

April 2, 2019

(Reuters) – American International Group Inc paid its chief executive officer, Brian Duperreault, about $20.9 million last year, a proxy filing showed on Tuesday.

Duperreault, who joined AIG in May 2017, received a total compensation of about $43.1 million for roughly eight months during 2017.

(Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel)

Source: OANN

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Jussie Smollett Hoax, The Whole Story – Share This Full-Length Video

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Source: InfoWars

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AT&T, Viacom continue contract negotiations past deadline

FILE PHOTO: The Viacom office is seen in Hollywood, Los Angeles
FILE PHOTO: The Viacom office is seen in Hollywood, Los Angeles, California, April 24, 2018. REUTERS/Lucy Nicholson

March 23, 2019

(Reuters) – MTV, Nickelodeon, Comedy Central and other Viacom Inc channels were still available on AT&T Inc’s DirecTV satellite TV service on early Saturday morning as the companies continued to hash out a new carriage contract.

It was not immediately clear if a deal could be reached, sources briefed on the matter said. AT&T and Viacom declined to comment.

The previous contract, in which AT&T paid Viacom about $1 billion in fees annually, expired at midnight Friday. Failing to reach a deal means Viacom channels would not be available to AT&T’s 24.5 million customers.

These types of conflicts have become increasingly common amid waves of media consolidation and the migration of viewers from traditional pay television services to streaming TV services such as Netflix and Amazon.

The current discussions have weighed on any potential tie-up of CBS Corp and Viacom, both of which are controlled by the Redstone family’s National Amusements Inc.

Viacom had begun warning AT&T subscribers on Tuesday that its channels could stop being shown on the DirecTV service if it failed to reach a new contract by midnight on March 22.

Viacom, owner of MTV, Nickelodeon, BET and Comedy Central, accused AT&T of abusing its powers after buying Time Warner Inc, which owns the Warner Bros Hollywood studios and HBO premium cable network.

AT&T has said Viacom channels are no longer as popular as they once were and accused them of being a “serial bad actor” in contract renewal negotiations.

(Reporting by Kenneth Li; Editing by Tom Hogue)

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Fed Nominee Stephen Moore Defends Record, Calls NYT ‘Wrong’

Federal Reserve Board nominee Stephen Moore Wednesday defended his record as an economist and as an adviser to President Donald Trump, after The New York Times editorial board said he and fellow nominee Herman Cain are "exceptionally unqualified to serve on the Fed’s board."

"These are the people who have gotten it wrong for the past week or four years, who said that if Donald Trump is elected president, we would have a second Great Depression and the stock market would crash," Moore told Fox Business' Maria Bartiromo.

He added that he is "very proud" of the service he and now-National Economic Council Larry Kudlow provided for Trump during his campaign.

Moore pointed out that even though he's not a "Ph.D economist," he was the youngest policy analyst on the budget when he was 25 years old and has been the chief economist for both The Wall Street Journal and the Heritage Foundation. He is currently the chief economist for the Institute for Economic Freedom and Opportunity.

"We helped put together the Trump tax plan and many parts of his agenda," said Moore. "How could anybody argue against it when we have this great economy, and I'm proud of that."

Moore added he was "skeptical" about the Fed's interest rate increase last September and "harshly critical" of another in December.

"Let's go back to the summer of 2018," he said. "We had almost 4% growth which was phenomenal. You had high employment which wage growth, that's what we wanted to create and that was behind the Trump economic agenda and we have to raise rates because growth is too high? I don't get the logic of that."

Source: NewsMax Politics

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Turkish prosecutor seeks life sentences for 16 over 2013 Gezi protests: state media

FILE PHOTO: A protester wears a gas mask as riot police fire tear gas during clashes with riot police at Istiklal Street in central Istanbul
FILE PHOTO: A protester wears a gas mask as riot police fire tear gas during clashes with riot police at Istiklal Street in central Istanbul late July 13, 2013. REUTERS/Umit Bektas/File Photo

February 20, 2019

ISTANBUL (Reuters) – A Turkish prosecutor is seeking aggravated life sentences for 16 defendants including businessman Osman Kavala for financing widespread protests around Turkey in 2013 and attempting to overthrow the government, state media said on Wednesday.

Hundreds of thousands of people marched in Istanbul in 2013 to protest against a plan to build a replica of an Ottoman barracks on Gezi park in the city center. The protests turned into nationwide anti-government demonstrations and amounted to a direct challenge to President Tayyip Erdogan’s government.

Authorities recently renewed their efforts to investigate the protests, a move opposition figures said was designed to polarize public opinion and rally support for Erdogan ahead of local elections next month.

Erdogan says the protests were organized and financed by Kavala, a businessman, and rights activists. Kavala has been in pre-trial detention in connection with the investigation for more than 15 months. He has denied the claim against him.

The indictment against Kavala was delivered to the court on Wednesday, according to state broadcaster TRT, which added that the investigation into the Gezi protests had been completed.

TRT said the defendants included famous actor Mehmet Ali Alabora, who was vocal during the protests, and journalist Can Dundar, who fled abroad after being sentenced to jail for over espionage charges and is being tried in absentia in other cases.

In November, police detained more than a dozen people as part of the investigation into the Gezi protests, while George Soros’s Open Society Foundation said it would cease operations in Turkey after it became a target of the investigation.

(Reporting by Tuvan Gumrukcu and Ece Toksabay Writing by Ali Kucukgocmen, Editing by William Maclean)

Source: OANN

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Caterpillar raises 2019 profit outlook on tax gain

FILE PHOTO: A row of excavators are seen at the Caterpillar booth at the CONEXPO-CON/AGG convention at the Las Vegas Convention Center in Las Vegas
FILE PHOTO: A row of excavators are seen at the Caterpillar booth at the CONEXPO-CON/AGG convention at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. March 9, 2017. REUTERS/David Becker/File Photo

April 24, 2019

(Reuters) – Caterpillar Inc raised its full-year profit forecast on Wednesday as it booked a tax gain in the first quarter stemming from the overhaul of U.S. tax laws.

The company said it now expects 2019 profit of $12.06 per share to $13.06 per share, compared with $11.75 to $12.75 per share forecast earlier.

(Reporting by Rachit Vats in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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Elon Musk’s SpaceX suffers capsule anomaly during Florida tests

A SpaceX Falcon 9 carrying the Crew Dragon spacecraft sits on launch pad 39A prior to the uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral
FILE PHOTO - A SpaceX Falcon 9 carrying the Crew Dragon spacecraft sits on launch pad 39A prior to the uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 1, 2019. REUTERS/Mike Blake

April 21, 2019

(Reuters) – Elon Musk’s SpaceX suffered an anomaly in one of its Crew Dragon capsules while conducting engine tests at the Cape Canaveral Air Force Station in Florida on Saturday, the company said.

“The initial tests completed successfully but the final test resulted in an anomaly on the test stand,” the company said in a statement.

The issue was earlier reported by Florida Today, which said orange smoke was seen rising above SpaceX’s facilities, and that the anomaly was contained with no injuries.

SpaceX said its teams are investigating and are working closely with U.S. National Aeronautics and Space Administration (NASA) partners.

“NASA has been notified about the results of the SpaceX Static Fire Test and the anomaly that occurred during the final test,” its administrator Jim Bridenstine said in a tweet https://twitter.com/JimBridenstine/status/1119754804258062337.

“This is why we test. We will learn, make the necessary adjustments and safely move forward with our Commercial Crew Program,” he added.

NASA has awarded SpaceX and Boeing Co a total of $6.8 billion to build competing rocket and capsule systems to launch astronauts into orbit from American soil.

In March, the privately owned SpaceX successfully completed its mission of sending an unmanned capsule to the International Space Station and returned safely to Earth, a mission seen as crucial to NASA’s plans to resume human space flight from U.S. soil.

SpaceX’s first crewed test flight is slated to launch in July with U.S. astronauts Doug Hurley and Bob Behnken.

(Reporting by Bhargav Acharya and Sabahatjahan Contractor in Bengaluru; Editing by Daniel Wallis)

Source: OANN

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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)

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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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