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Iran allowing transit of Chinese vessels in Strait of Hormuz, Fars news reports

DUBAI, May 14 (Reuters) – Iran has begun allowing some Chinese vessels to transit through the Strait of Hormuz following an understanding ​over Iranian management protocols for the waterway, the semi-official ‌Fars news agency said on Thursday, citing an informed source. The Fars report came as U.S. President Donald Trump, who is on a state visit ​to China, agreed with the Chinese leader Xi Jinping ​that the Strait of Hormuz must be open for ⁠the free flow of energy. The source told Fars news the ​move followed requests by China’s foreign minister and ambassador to ​Iran, with Tehran agreeing to

Sensex jumps nearly 790 pts on buying in telecom, banking shares

Mumbai, May 14 (PTI) Stock markets rose for the second consecutive day on Thursday with the benchmark Sensex jumping by nearly 790 points in a volatile session, driven by value buying in telecom, pharma and private banking shares. The 30-share BSE Sensex jumped 789.74 points, or 1.06 per cent, to close at 75,398.72. The index opened higher but slipped into negative territory in late morning deals. However, value buying in telecom and banking shares helped the barometer pare losses and later jump more than 1,000 points to a high of 75,681.88. Extending gains to the second day, the 50-share NSE

Rupee settles at record low of 95.73 against US dollar

Mumbai, May 14 (PTI) The rupee weakened further and fell to a record low of 95.73 (provisional) against the US dollar on Thursday, amid a strong dollar and worries over inflation amid elevated energy prices. Forex traders said the rupee is expected to trade with a negative bias amid inflation concerns and the strength of the US dollar in the overseas market. The West Asia crisis and the blockade of the Strait of Hormuz have disrupted crude petroleum imports into India. Also, the sharp rise in crude prices has made fuel imports costlier. The rupee has become the worst-performing currency

Accept Congress decision to appoint Satheesan as Kerala CM: Venugopal

New Delhi/Thiruvananthapuram, May 14 (PTI) Congress general secretary K C Venugopal on Thursday said he accepts the party’s decision to name V D Satheesan as the chief minister of Kerala, and extended all support to him and the UDF government in the state. Speaking to reporters in New Delhi, Venugopal, who was one of the three persons being considered for the post, said he wholeheartedly congratulated Satheesan. He further said that he had right from the start made it clear that he would accept the Congress decision whatever it may be as the party is everything for him. “So, that

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