Continuing their rising trend, India’s foreign exchange reserves increased by 1.350 billion US Dollars to touch a record high of 361.601 billion dollars in the week to 22nd April. A RBI release said, foreign currency assets, a major part of the overall reserves, rose by 1.350 billion dollars to 337.537 billion dollars in the reporting week.
In the previous week, the reserves had had risen by 333.7 million dollars to 360.250 billion dollars. Gold reserves remained unchanged at 20.115 billion dollars in the week. India’s special drawing rights with the International Monetary Fund increased by 0.1 million dollars to 1.498 billion dollars, while the country’s reserve position with the Fund remained unchanged at 2.450 billion dollars.
Saina Nehwal suffered a straight-game defeat against local favourite Yihan Wang in the semifinals of women’s singles of Asian Badminton Championship at Wuhan in China, today.
Olympic bronze medallist Saina lost 16-21 14-21 to sixth seed Wang in a 41-minute match to register her 11th defeat against the Chinese.
It was yet another semifinal finish for the World No. 8 Indian, having made it to the final four in the Swiss Grand Prix Gold, India Super Series and Malaysia Super Series Premier Open earlier in the year.
This was the last tournament before the Olympic qualification deadline of May 3rd.
Apr 30, 1:53 PM
The government of Panama has set up a committee of independent experts to make recommendations on cleaning up the country’s financial system. The move comes after leaks of documents from the Panamanian law firm Mossack Fonseca caused an international uproar over offshore accounts.
President Juan Carlos Varela called for the review after the Panama Papers leak suggested rich foreigners were using the accounts to hide their wealth. He was speaking at the committee’s inauguration yesterday. Mr Varela said, their administration is committed to bullet-proofing Panama financial services sector against threats from people and groups who want to use it for illegal activities.
The advisory group includes Nobel economics laureate Joseph Stiglitz, former Panamanian President Nicolas Ardito Barletta and former Panama Canal administrator Alberto Aleman Zubieta. The group is to present recommendations to Mr Varela in six months.
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