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Golf: Woods quad on 17th hole at Sawgrass not better than most

PGA: THE PLAYERS Championship - Second Round
Mar 15, 2019; Ponte Vedra Beach, FL, USA; Tiger Woods plays his shot from the ninth tee during the second round of THE PLAYERS Championship golf tournament at TPC Sawgrass - Stadium Course. Mandatory Credit: Jasen Vinlove-USA TODAY Sports

March 15, 2019

(Reuters) – Tiger Woods enjoyed one of the most famous moments of his career on the 17th at TPC Sawgrass, but on Friday at the Players Championship the same hole exacted its revenge when he made a quadruple bogey.

Woods was sailing along smoothly, within striking distance of the lead when he arrived at the 146-yard par-three hole, where the island green leaves little margin for error.

He pulled his tee shot a touch, but seemed to get lucky when his ball landed on the edge of the green before rolling on to the small sliver of land that serves as a bridge to the putting surface.

However, the 14-times major champion’s ball trickled over the back and into the water as the gallery groaned.

Woods compounded his problems by pulling his next shot from the drop zone, a mere 90-yard pitch that professionals could usually execute with their eyes closed.

His ball took one bounce and disappeared into a watery grave beyond the green, forcing him to reload from the same place.

Woods finally found the heart of the green with what was his fifth shot, and two-putted for seven.

That was the only blemish on his card, as he compiled five birdies for a one-under-par 71.

“The second wedge didn’t really surprise me,” Woods told reporters of his second water ball. “It was too flat. The first one I hit surprised me.

“I was pretty ticked. I was bound and determined to get it all back.”

He posted a three-under 141 halfway total that left him six strokes behind clubhouse leader Jim Furyk.

The 17th is where Woods sank a downhill 50-foot birdie putt from the fringe in the third round en route to victory at the 2001 Players Championship.

“That’s better than most, that is better than most,” television commentator Gary Koch famously said as the ball trundled downhill towards the hole, before diving in the cup as Koch exclaimed one more time “better than most”.

(Reporting by Andrew Both in Cary, North Carolina, editing by Ed Osmond)

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Georgia high school tells transgender student who identifies as male to run for prom queen: report

A transgender student said his high school in Georgia is forcing him to run for prom queen, even though he identifies as a male and was nominated for prom king, reports said on Thursday.

Dex Frier, 17, a senior at Johnson High School in Gainesville, told BuzzFeed News that his school gave him only two options to choose from, either run as prom queen or not at all for the school dance on Saturday.

"They called me there to tell me I couldn't run for prom king ’cause I wasn't legally male and that was the way it was in Hall County [school district]," he told the outlet. "The only way I was eligible to run for prom was to be put on the prom queen ballot."

TRANSGENDER HIGH SCHOOL ATHLETES SPARK CONTROVERSY, DEBATE IN CONNECTICUT

Frier said the news was "upsetting and he felt "suppressed" by school officials, according to the report.

He said the school principal told him that Will Schofield, the superintendent of the school district, gave the directive.

"I am not interested in being responsible for placing our school district, by acts of commission or omission, in the middle of a national social, societal and legal issue which would have the potential to substantially disrupt us from our core mission of providing an education for the boys and girls in our community," he told BuzzFeed News.

Frier told Atlanta's WSB-TV that he began to identify as male in his sophomore year.

"They don't have a clear rule that says you have to be biologically male to run for prom king (or that) you have to be biologically female to run for prom queen. There is no rule that states that," Frier said.

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He told the station that whether he wins or loses, he is going to the dance.

"The announcement came on [and] I was one of six prom king candidates, which is insane. I was one among some of the most popular kids at school," he told BuzzFeed News.

Source: Fox News National

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Sen. Harris a Gun Owner Who Wants Stronger Gun Laws

Sen. Kamala Harris, D-Calif., revealed Thursday she is a gun owner – but said she still wants stricter gun laws.

"I am a gun owner – and I own a gun for probably the reason that a lot of people do, for personal safety," the 2020 presidential primary contender told reporters in Iowa, the New York Post reported. "I was a former prosecutor."

A Harris campaign aide said the weapon she owns is a handgun, which she keeps locked up, CNN reported. The aide told the news outlet that Harris bought the gun years ago.

Harris discussed her gun history after meeting supporters at a house party in Des Moines — including members of Moms Demand Action For Gun Sense in America, the grassroots movement that is part of Everytown for Gun Safety, the largest gun control advocacy group in the country, CNN reported.

"For too long, and still today, we are being offered a false choice which suggests you're either in favor of the Second Amendment or you want to take everyone's gun away," Harris said, attributing the problem to a "lack of courage" from leaders.

Harris called gun violence a "clear problem in our country" and pushed for "smart gun safety laws — which include universal background checks and a renewal of the assault weapons ban. Period," she said, the Post reported.

At a January CNN town hall, shortly after declaring her candidacy, Harris said Congress would have acted after 20 children and six adults were murdered Dec. 14, 2012, at Newtown's Sandy Hook Elementary School if lawmakers had been placed in a locked room without press and required to examine "the autopsy photographs of those babies," CNN reported.

"And then you can vote your conscience. This has become a political issue," she said.

Source: NewsMax America

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Rep. Katherine Clark: Dems Serious on Mueller Report Deadline

Lawmakers must get special counsel Robert Mueller's full report, and subpoenas must be authorized before Attorney General William Barr turns over his redacted version of it, Rep. Katherine Clark, vice-chair of the House Democratic Caucus, said Monday while responding to news that House Judiciary Committee Chairman Jerry Nadler plans to subpoena the document.

"The way to do it is to be very clear with Attorney General Barr that we're not going to just rely on the Barr report, but we need to see the underlying evidence and the full report from Mr. Mueller," the Massachusetts Democrat told CNN's "New Day. "I think the clear message that the Judiciary Committee is sending is that we're serious about an April 2nd deadline."

There have been concerns that the report could contain grand jury material, but Clark noted that in the past, such items have been waived in the past to allow members of the Judiciary Committee to see it.

"We are able to negotiate keeping classified information, grand jury information, if necessary, out of the public realm," said Clark.

She also commented on President Donald Trump's threat to shut down the Mexican border, calling it another example of a failed policy and priorities.

"This entire presidency is built on the lie that migrant families are the greatest threat to our national security and that Mexico will pay for a wall to keep them out and that will protect American families and our economy," said Clark. "That's the fundamental misrepresentation of this presidency."

Source: NewsMax Politics

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Ford first-quarter profit falls, but beats Wall St. estimates

FILE PHOTO: Ford logo is seen at the North American International Auto Show in Detroit, Michigan
FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid

April 25, 2019

DETROIT (Reuters) – Ford Motor Co on Thursday posted lower profit for the first quarter but beat analyst estimates as pickup truck sales remained strong in its core U.S. market.

The No. 2 U.S. automaker posted a quarterly net profit of $1.15 billion, or 29 cents per share, down 34 percent from $1.74 billion, or 43 cents per share, a year earlier.

Excluding one-time items, Ford earned 44 cents per share, above analysts’ average estimate of 27 cents, according to IBES data from Refinitiv.

(Reporting by Nick Carey; Editing by Tom Brown)

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Ship reported hijacked near Libya by migrants rescued at sea

The military of European island nation Malta is reporting that migrants have hijacked a cargo ship in Libyan waters.

The Armed Forces of Malta said military personnel were standing by and the hijacked vessel still was in Libyan territory on Wednesday night.

Italian Interior Minister Matteo Salvini says the ship's crew rescued a group of migrants who are thought to have taken control and to be directing the ship toward Malta or Italy's Lampedusa island.

Salvini said "it would be the first act of piracy on the high seas with migrants that hijacked" a cargo ship.

Source: Fox News World

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Virus attacks Spain’s defense intranet, foreign state suspected: paper

FILE PHOTO: Projection of cyber code on hooded man is pictured in this illustration picture
FILE PHOTO: A projection of cyber code on a hooded man is pictured in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel//File Photo

March 26, 2019

MADRID (Reuters) – A computer virus infected the Spanish Defence Ministry’s intranet this month with the aim of stealing high tech military secrets, El País newspaper said on Tuesday, citing sources leading the investigation as suspecting a foreign power behind the cyberattack.

A Defence Ministry spokesman said the ministry would not comment.

El País said the virus was apparently introduced via email and was first spotted at the beginning of March. However, it could have gone undetected for months in an intranet with more than 50,000 users.

Although the network does not carry classified information, the paper said its sources were concerned about a wider infection to other networks with the purpose of accessing information related to secret military technology.

The investigation had yet to determine who was responsible for the cyberattack, but sources told El País it was too technically complex to be done by standard hackers. “There is a state behind it,” they said.

(Reporting by Jose Elias Rodriguez; Editing by Axel Bugge and Frances Kerry)

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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)

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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)

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