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Stock markets snap 2-day rally to end lower amid spike in oil prices; Sensex drops 480 pts

Mumbai, May 26 (PTI) Market benchmark indices Sensex and Nifty ended lower in a volatile trade on Tuesday following a spike in crude oil prices amid reports of fresh US military operations in southern Iran. The 30-share BSE Sensex declined 479.26 points, or 0.63 per cent, to settle at 76,009.70. During the day, it tanked 579.28 points, or 0.75 per cent, to 75,909.68. The 50-share NSE Nifty dropped 118 points, or 0.49 per cent, to end at 23,913.70. From the Sensex firms, Bharti Airtel, Trent, Tata Consultancy Services, Bajaj Finance, Titan and HDFC Bank were among the biggest laggards. In

Employees’ body urges Centre to restructure Joint Consultative Machinery platform

New Delhi, May 26 (PTI) An employees’ association has urged the Centre to restructure the Joint Consultative Machinery (JCM), the platform for dialogue between the government and its staff, to make it more representative of present-day administrative realities. The All India National Public Services Employees Federation (AINPSEF), an umbrella body that claims to have the support of over 13 lakh government employees of central and state government departments, Union Territories, and other organisations, has written to Union Minister of State for Personnel Jitendra Singh in support of the demand. In the letter, AINPSEF national president Manjeet Singh Patel said the

When crude oil prices fell, why did petrol, diesel become more expensive, asks Kharge

New Delhi, May 26 (PTI) Congress president Mallikarjun Kharge attacked the Modi government on Tuesday over the rising fuel prices and asked why relief was not provided to people when crude oil prices fell during the last 12 years. Kharge cited an official statement by the PIB to state that exactly 12 years ago today — on May 26, 2014 — when Prime Minister Narendra Modi assumed office, the price of crude oil in the Indian basket stood at USD 108.05 per barrel, and the Dollar-Rupee exchange rate was Rs 58.59. At that time, petrol was available at Rs 71.51

Is Beijing the world’s ‘living room’? China is enjoying the global stage, but there are limits to its influence

Adelaide, May 26 (The Conversation) In recent weeks, the back-to-back state visits to Beijing by Russian President Vladimir Putin and US President Donald Trump have put China in the global spotlight. For some international analysts, the summits showcased China as a “stabilising force capable of hosting two major rivals within days”, a “broker between the big powers” and a “pillar of global stability”. To others, the visits highlighted how China is becoming an “indispensable global power” and President Xi Jinping a “world leader to be reckoned with and courted”. Chinese analysts, meanwhile, noted that over the past six months, numerous

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