Indonesia earthquake live updates: 5.7 magnitude earthquake hits South Sumatra in Indonesia

Indonesia earthquake live updates: The Euro-Mediterranean Seismological Center (EMSC) said on Wednesday that a 5.7-magnitude earthquake hit South Sumatra, Indonesia. MSC said the quake occurred at a depth of 60 km.

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US House of Representatives passes bill to protect same-sex marriage

The US House of Representatives on Tuesday passed a bill to protect marriage equality amid concerns that the Supreme Court could back down on recognizing same-sex marriage, The Hill reports. The legislation, titled Respecting the Marriage Act, passed by 267 votes to 157, with 47 Republicans joining all Democrats in supporting the measure.

Prime Minister Modi interacts with the Indian unit bound for CWG today

Prime Minister Narendra Modi will interact with the Indian unit bound for the 2022 Commonwealth Games (CWG) on Wednesday via video conference. The Prime Minister’s interaction is part of his ongoing endeavors to motivate athletes ahead of their participation in major sporting events.

The Secretary-General of the United Nations appoints a new Deputy Special Representative for Iraq

United Nations Secretary-General Antonio Guterres announced the appointment of Afghani Ghulam Muhammad Izakzai as his new Deputy Special Representative for Iraq in the United Nations Assistance Mission for Iraq (UNAMI). A statement issued by the UN Secretary-General’s press office on Tuesday said Isakzai will also serve as the UN Resident and Humanitarian Coordinator in the country.

The fourth COVID vaccine for use in the United States

The Centers for Disease Control and Prevention on Tuesday recommended the use of a newly approved Novavax vaccine as an option for adults seeking an initial vaccination against the coronavirus. Dr. Rochelle Walinsky, director of the CDC, signed off on the recommendation of a panel of vaccine experts that unanimously endorsed the vaccine Tuesday afternoon. The decision removes the final regulatory hurdle to the fourth episode of COVID-19 authorized in the United States.

The Reserve Bank of India (RBI) is likely to sell $850-900 million of US currency

The Reserve Bank of India reportedly intervened in the spot and futures markets, supporting the local unit and helping it erase early losses. The turnover in dollars is estimated at about 850-900 million dollars. The Reserve Bank of India (RBI) did not respond to the Group of Experts’ queries regarding its intervention strategy.

Creeping inflation monster?

With the rupee likely to rise to 80 per dollar, and given India’s huge oil and gold import bills, imported inflation will be on the rise. India, the world’s second largest gold importer, produces only 1% of domestic consumption.

Deputy Governor of the Reserve Bank of India, MD Batra, said at the latest monetary policy meeting that empirical evidence shows that inflation above 6% in India is unequivocally harmful to growth, and that uncontrolled inflation causes exchange rate depreciation, discouraging capital inflows It leads to large capital outflows. The study showed that a 5% depreciation of the rupee could push inflation around 20 basis points higher and vice versa. One basis point is 0.01%, and the central bank can order exporters to bring in dollars faster — shortening the current nine-month schedule — to ensure they don’t stop their earnings. Stop measures to stop the slippage of the rupee. These may include restrictions on imports of non-essential goods, lower limits on total overseas investment by resident Indians, and mandates for exporters to speed up their transfers in US dollars.

Sources 1/ https://Google.com/ 2/ https://economictimes.indiatimes.com/news/newsblogs/latest-daily-news-and-updates-july-20/liveblog/92991550.cms The mention sources can contact us to remove/changing this article

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