01172017Tue
Last update: Tue, 17 Jan 2017 10pm

South Asia

World - South Asia

Tens of thousands protest against India cash ban KOLKATA: Tens of thousands of people turned out Monday for nationwide protests against India's controversial ban on high-value banknotes, which opposition party organisers say has caused a "financial emergency".India is still reeling from Prime Minister Narendra Modi's shock decision nearly three weeks ago to pull 86 percent of the currency from circulation overnight, triggering a chronic shortage of notes in an economy that operates almost entirely on cash.Around 25,000 people took to the streets of the eastern city of Kolkata, capital of West Bengal state, whose left-wing Chief Minister Mamata Banerjee has warned of "riots and epidemics" if the ban continues.An estimated 6,000 more turned out to protest in Mumbai, India's western commercial hub, police said.But many ordinary Indians say they support the scheme if it forces the rich to pay their taxes by making them bank undeclared income. Only a handful of states observed a call for a nationwide ...

World - South Asia

China will stick to going out strategy amid outflow concerns SHANGHAI: China said on Monday it will stick to its opening up policy and "going out" strategy on investment even while a slide in the yuan to 8-1/2-year lows revives worries about capital fleeing the country.Officials from the National Development and Reform Commission, the Ministry of Commerce, the People's Bank of China and the State Administration of Foreign Exchange said the country will continue to encourage healthy development of outbound investment, the official Xinhua news ...

World - South Asia

Iran's Rouhani salutes 'relentless warrior' Castro TEHRAN: Iran's President Hassan Rouhani hailed as a "relentless warrior" the Cuban leader Fidel Castro, who died aged 90 on Friday.In a message to the late leader's brother President Raul Castro, Rouhani said the death of the leader of the Cuban revolution caused him "great grief and sorrow"."In this age -- when oppressed nations around the world suffer from violations of the most obvious and fundamental human principles such as peace, justice and freedom -- ...

World - South Asia

India's Modi calls for move towards cashless society MUMBAI: Indian Prime Minister Narendra Modi on Sunday urged the nation's small traders and daily wage earners to embrace digital payment channels, as a cash crunch following the government's surprise ban on high-value bank notes drags on.Modi, speaking in his monthly address on national radio, said the government understands that millions have been affected by the ban on 500-rupee and 1000-rupees notes, but defended the action.The government says the bank-note ban announced on Nov. 8 ...

World - South Asia

Sri Lanka sentences 18 to death in tea planter murder COLOMBO: A Sri Lankan court Friday sentenced 18 men to death for murdering a US tea company executive, the largest group to be condemned in a single trial.High Court Judge M.D.S. Abeyratne found the men -- members of a criminal gang -- guilty of hacking Nihal Perera to death three years ago on the outskirts of Colombo.Perera, a Sri Lankan national, was the superintendent of the Noori Estate tea plantation managed by Texas-based firm, Walters ...

World - South Asia

6.5 magnitude quake hits China's Xinjiang region: USGS BEIJING: A powerful 6.5 magnitude quake rocked a mountainous area of far western China Friday night, the US Geological Survey reported, in a zone often plagued with seismic activity. The tremor struck southern Xinjiang, a vast region bordering central Asia, at a relatively shallow depth of 12 kilometres (seven miles), the USGS added. The quake hit near the Tajik border and approximately 172 kilometres west of the Chinese city of Kashgar.There were no initial reports ...

World - South Asia

Chile foreign minister says to deepen trade ties with China SANTIAGO: Chile's Foreign Minister Heraldo Munoz said in a press conference on Tuesday that China and Chile plan to ink an agreement to deepen bilateral trade ties during Chinese President Xi Jinping's visit to the South American nation. Xi is arriving in Chile on Tuesday from Lima, where the Asia-Pacific Economic Cooperation (APEC) summit recently wrapped up. Copyright Reuters, 2016 ...