Kuwait ruler dissolves parliament - official news agency | Reuters
KUWAIT Kuwait's emir, Sheikh Sabah al-Ahmad al-Sabah, issued a decree on Sunday dissolving the national assembly, the official KUNA state news agency reported.The agency had no immediate further details. (Reporting by Reem Shamseddine, Hadeel al Sayegh, Editing by William Maclean)
KUWAIT Kuwait's emir, Sheikh Sabah al-Ahmad al-Sabah, issued a decree on Sunday dissolving the national assembly, the official KUNA state news agency reported.The agency had no immediate further details.
(Reporting by Reem Shamseddine, Hadeel al Sayegh, Editing by William Maclean)
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By Rafael Nam and Suvashree Choudhury | MUMBAI MUMBAI An intense cash shortage in India could force the central bank to cut interest rates to a six-year low on Wednesday as Prime Minister Narendra Modi's currency gamble threatens to hit nearly every aspect of the economy, from consumers to supply chains.A majority of the nearly 60 analysts polled by Reuters predict the Reserve Bank of India (RBI) will cut the repo rate INREPO=ECI by 25 basis points (bps) to 6.00 percent, the lowest since November 2010, while six predicted a deeper 50 bps cut.Pressure on the RBI and Governor Urjit Patel to act has grown since Modi stunned the country on Nov. 8 with a drastic plan to abolish 500 and 1,000 rupee notes ($7.35-14.70), removing 86 percent of the currency in circulation in a bid to crack down on India's "shadow economy." Data so far shows the measure has hit the cash-reliant economy more than expected: auto sales plunged and services sector activity dived into contraction last month for the first time in 1-1/2 years.The prospect that India's robust growth will be derailed could offset any worries about a volatile global environment, which saw the rupee INR=D2 sink to a record low last month as part of a sell-off in emerging market assets.Analysts say the RBI has room to act given consumer inflation INCPIY=ECI eased in October to 4.20 percent, the slowest pace in 14 months and below the RBI's target of 5 percent for March 2017. "We expect the RBI monetary policy committee (MPC) to cut rates by 25 basis points," said Radhika Rao, an economist with DBS Bank, in a note
Intel Corp INTC.O reported a better-than-expected 9.1 percent rise in quarterly revenue, helped by improving PC demand and growth in its data centre and cloud businesses.The world's largest chipmaker said it expects fourth-quarter revenue to be $15.7 billion, plus or minus $500 million.
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