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Iran says it is reviewing new US proposal after sources say sides closing in on deal

ISLAMABAD/WASHINGTON/TEL AVIV, May 6 (Reuters) – Iran said on Wednesday ​it was reviewing a new U.S. proposal, after sources said Washington and Tehran were closing in on a one-page memorandum to end the war in the Gulf while leaving tricky ‌issues such as Iran’s nuclear programme for later. An Iranian foreign ministry spokesperson, cited by Iran’s ISNA news agency, said Iran would convey its response soon via Pakistan, which hosted the war’s only peace talks and has since served as the main conduit for messages between the sides. In an early morning social media post, U.S. President Donald Trump gave

Congress considered alliance with TVK even before TN elections: Karti Chidambaram

Chennai, May 6 (PTI) Senior Congress leader Karti Chidambaram on Wednesday said there were voices within his party favouring an alliance with actor-turned-politician Vijay’s TVK even before the April 23 Tamil Nadu Assembly elections. “There were voices within the party that mooted an alliance with TVK before the elections. There is no doubt about that,” Karti told PTI Videos. VIDEO | Chennai: Congress leader Karti Chidambaram (@KartiPC) on Tamil Nadu election result said, "People of Tamil Nadu have voted for change and for a government to be led by Vijay and TVK. However, they have not given a decisive mandate

Rupee surges 61 paise to close at 94.57 against US dollar

Mumbai, May 6 (PTI) The rupee appreciated 61 paise to close at 94.57 (provisional) against the US dollar on Wednesday, as Brent crude prices retreated from elevated levels towards USD 100 per barrel after US President Donald Trump hinted at a possible deal with Iran. Forex traders said that with the Indian rupee facing severe pressure, the Reserve Bank of India (RBI) is also actively pursuing a “non-direct” strategy to support the currency. Moreover, market sentiment was boosted after Trump paused “Project Freedom,” a US operation to escort ships through the Strait of Hormuz. At the interbank foreign exchange market,

Stock markets rally as oil prices decline amid progress in US-Iran talks; Sensex jumps 940 pts

Mumbai, May 6 (PTI) Benchmark Sensex rallied by 940 points on Wednesday following a sharp decline in crude oil prices after US President Donald Trump claimed progress in negotiations with Iran towards an agreement to end the war. Helped by fag-end heavy buying, the 30-share BSE Sensex jumped 940.73 points, or 1.22 per cent, to settle at 77,958.52. During the day, it surged 1,004.99 points, or 1.30 per cent, to a day’s high of 78,022.78. The 50-share NSE Nifty rallied 298.15 points, or 1.24 per cent, to end at 24,330.95. A positive trend in global markets aided the rally in

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