Author: Himalaya Post

MUMBAI – The Indian rupee hit a record low of 70 to the dollar on Tuesday as emerging market currencies are sold off by investors spooked by the Turkish financial crisis. The under-pressure rupee touched 70.09 briefly during mid-morning trade as fears grow that the plight of Turkey’s lira will spread to other emerging countries. South Africa, Argentina, Mexico, Brazil and Russia have all seen their currencies slip over the past week because, like Turkey, they remain heavily dependent on foreign capital, especially the dollar. The rupee has been on a downward spiral throughout 2018 after starting the year at 63.67.India is a massive net importer of oil, securing more than two-thirds of its needs from abroad. Analysts say the high crude prices are squeezing the Indian currency, making it less appealing to investors. The fall in the rupee is leading to a widening of India’s current account deficit, when the value of imports exceeds the value of exports, they say.  ...

LONDON  – Police shut down the area around Parliament on Tuesday after witnesses said a motorist deliberately crashed into pedestrians and cyclists during the morning commute, heightening tensions in a city that has seen four vehicle-based terror attacks in less than 18 months. Armed police swooped into the area and cordoned off streets surrounding the heart of Britain’s government. Police appealed to the public to stay away, and the Westminster Tube station was closed. Eyewitness Ewelina Ochab told The Associated Press that the crash appeared deliberate.”The car drove at speed into the barriers outside the House of Lords. There was a loud bang from the collusion and a bit of smoke,” she said. “The driver did not get out. The guards started screaming to people to move away.” The area was the site of a terror attack in March 2017 when Khalid Masood ploughed a car into crowds on Westminster Bridge, killing four people. Masood abandoned his car and then stabbed and killed a police officer before being shot dead in a courtyard outside Parliament. In Tuesday’s incident, the car slammed into barriers that had been extended following the Westminster Bridge attack. Video from Sky News showed a man being detained. London’s Metropolitan Police say that the Counter-Terrorism Command is leading the investigation. Though a number of people were injured in Tuesday’s incident, none are in life-threatening condition. The...

NEW DELHI – Day after Pakistani authorities released 30 Indian prisoners, New Delhi have also released seven Pakistani civilian prisoners, officials said Tuesday. “We repatriated seven Pakistan civilian prisoners yesterday,” an Indian Home Ministry official said. “Last week also 14 Pakistani fishermen were released and repatriated.”Pakistan handed over 30 Indian prisoners including 27 fishermen to Indian officials on Monday at Wagah border in Punjab. Islamabad described the move as humanitarian gesture and had expected a similar response from New Delhi. According to Indian officials, as per a government report submitted to the country’s top court last month, over 470 Indians, including 418 fishermen, were languishing in Pakistani jails. Fishermen of the two countries are often jailed for accidentally crossing into each other’s territory. The fishermen from both sides traverse poorly-defined boundary in the international waters as most fishing boats lack technologies to locate exact positions. Meanwhile a statement issued by the Indian Home Ministry said they have secured release of 178 prisoners this year. “India attaches high priority to addressing humanitarian issues including early release and repatriation of Indian fishermen and prisoners in Pakistan’s custody. Release of 178 Indian prisoners, including 174 fishermen, has been secured in 2018, so far,” the statement...