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New Delhi, May 14 (PTI) India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification.

However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in a notification dated May 13.

"The export policy of wheat is prohibited with immediate effect ," the DGFT said.

Udaipur, May 14 (PTI) Asserting that the state of the economy is a cause of "extreme concern", senior Congress leader P Chidambaram on Saturday said taking into account global and domestic developments, it may be necessary to contemplate a reset of economic policies.

Addressing a press conference, Chidambaram said a slower rate of growth has been the "hallmark" of the present government in the last eight years, and the post-pandemic recovery has been "indifferent and halting".

12 May 2022; MEMO: The United States' government under the Administration of President Joe Biden has reportedly asked Congress to approve the sale of advanced weapons and military equipment to Turkey, after years of marginalising Ankara and its defence interests.

12 May 2022; MEMO: The tourism sector in Turkey is hardest hit by the war between Ukraine and Russia, as the two nations are the first largest group visit Turkey, DW reports.

According to the report, in 2021, around 4.7 million Russian tourists visited Turkey. German holidaymakers were the second-largest group, followed by Ukrainians.

12 May 2022; MEMO: The United Kingdom yesterday announced an exemption of entry visas for all Saudi nationals.

Mumbai, May 12 (PTI) Snapping its two-day winning streak, the rupee slumped by 15 paise to end at 77.40 (provisional) against the US dollar on Thursday, following risk-off sentiments amid increasing concerns over inflation globally.

Weak domestic equities, surging US dollar in overseas markets and persistent foreign fund outflows also weighed on the rupee which plunged to its all-time intra-day low of 77.63 against the US dollar, forex traders said.

11 May 2022; MEMO: Saudi Arabia's futuristic megacity, NEOM, will hold millions of "Neomians" by the year 2030, according to the project's Head of Tourism.

Speaking to the Emirati newspaper, The National, the NEOM project's Head of Tourism, Andrew McEvoy, said that people are expected to begin arriving to the city in 2024, when "you will see a lot of movement as our first tourism assets begin to open."

11 May 2022; MEMO: Russia's Foreign Minister, Sergei Lavrov, visited Oman on Wednesday, a fellow member of the OPEC+ alliance of oil producers, where he met with the Gulf Arab state's ruling Sultan, Omani state media said, and Reuters reports.

US-allied Gulf states have not taken sides in the Russia-Ukraine conflict while urging restraint and diplomacy to end the crisis. Gulf oil producers had also resisted Western calls to pump more oil and help isolate Moscow.

12 May 2022; MEMO: Qatar's ruler, Emir Sheikh Tamim Bin Hamad Al Thani, has arrived in Iran, Iranian state media reported today, as the Gulf state tries to help end a row between Tehran and Washington over the revival of the 2015 nuclear deal, Reuters reports.

12 May 2022; MEMO: Turkey and Pakistan are conducting a security dialogue in the city of Istanbul, in efforts to discuss and resolve regional issues, expand further economic cooperation and construct common policies.