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Rupee slumps 50 paise to settle at fresh record low of 94.03 against US dollar

Mumbai, Mar 23 (PTI) The rupee breached the 94/dollar barrier for the first time, slumping 50 paise to a new record closing low of 94.03 (provisional) against the greenback on Monday, as spiralling global crude prices and unabated foreign fund outflows unnerved investors. A strengthening US dollar and a steep decline in the domestic equity markets further weakened the local unit, forex traders said. At the interbank foreign exchange, the local unit opened at 93.84 and kept losing ground throughout the day, before breaching the 94-mark against the US dollar for the first time to settle at 94.03 (provisional), down

Trump postpones military strikes for five ​days on Iranian power plants

US President Donald Trump

WASHINGTON, March 23 (Reuters) – President Donald Trump backed down on targeting Iran’s power network on Monday, saying the U.S. and ​Iran have held constructive talks and that he would ‌postpone any strikes on power plants and energy infrastructure. Trump’s statement came after Iran threatened to attack Israel’s power plants and those supplying U.S. bases ​across the Gulf region if the U.S. targets Iran’s ​power network. Conversations with Iran will continue throughout the week, ⁠Trump said in a social media post. The dollar plunged and ​stocks surged following Trump’s post. The United States and Iran “have had, over ​the last

A web of sensors: How the US spots missiles and drones from Iran

Oxford (US), Mar 23 (The Conversation) The global price of oil continues to skyrocket as Iran’s missiles and drones hit vital infrastructure in Arab Gulf states. Billion-dollar American radar systems have also been targeted and destroyed across the Middle East by Iran, seemingly degrading U.S. defenses. U.S. military presence near Iran includes dozens of locations and tens of thousands of troops in harm’s way. This raises the question: If a missile is launched from Iran toward a U.S. military base in the region, how do service members know in time to stay safe? The United States and its allies have

Iran threatens to strike Gulf power plants after Trump ultimatum

TEL AVIV/JERUSALEM/WASHINGTON, March 23 (Reuters) – Iran will attack Israel’s power plants and plants supplying U.S. bases in the Gulf if President Donald Trump carries out his threat to “obliterate” Iran’s power network, the country’s Revolutionary Guards said in a statement ​on Monday. The statement seemingly retracted earlier threats to desalination plants in the region, which are crucial for providing drinking water in Gulf countries. “The lying … U.S. President has claimed that the Revolutionary Guards ‌intends to attack the water desalination plants and cause hardship to the people of the countries in the region,” said the statement shared on

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