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El Salvador president wants Bitcoin as legal tender

SAN SALVADOR, El Salvador (AP) — El Salvador President Nayib Bukele announced in a recorded message played at a Bitcoin conference in Miami Saturday that next week he will send proposed legislation to the country’s congress that would make the cryptocurrency legal tender in the Central American nation.

The 39-year-old president, who has maintained approval ratings above 90% and made Twitter his preferred way of communicating, characterized it as an idea that could help El Salvador move forward.

Lebanon to allow citizens access to $800 from their bank accounts each month

04 June 2021; MEMO: Lebanon's central bank today said depositors with accounts active as of October 2019 would be able to withdraw up to $400 a month plus the equivalent amount in local currency, Reuters reported.

Lebanese banks had locked depositors out of their dollar accounts and blocked transfers abroad since the country was gripped by a financial crisis in late 2019.

India: Farmers burn copies of farm laws in Punjab

Chandigarh, Jun 5 (PTI) Farmers burnt copies of the Centre's three farm laws near residences of BJP leaders and at other places in Punjab on Saturday as they observed 'Sampoorna Kranti Diwas' to mark the day when these legislations were promulgated as ordinances last year.

Farmers carrying black flags raised slogans against the BJP-led central government for not scrapping the legislations which, they said, will "destroy" the farming community.

India: RBI keeps interest rate unchanged; to maintain accommodative stance

Mumbai, Jun 4 (PTI) The Reserve Bank of India (RBI) on Friday left key interest rates unchanged at record lows as it reiterated its commitment to keep its monetary policy accommodative, to help the economy recover from the world's worst outbreak of COVID-19 infections.

It also lowered its forecast for the country's economic growth to 9.5 per cent for the current financial year ending March 31, 2022, from the previous estimate of 10.5 per cent.

India will be a 'significant recipient' of US vaccines

Washington, Jun 4 (PTI) India will be a "significant recipient" of US vaccines, the country's envoy here has said as President Joe Biden announced details of his administration's decision to send 25 million COVID-19 shots to countries across the globe.

US President Joe Biden on Wednesday announced that the US will allocate 75 per cent - nearly 1.9 crore of the first tranche of 2.5 crore doses - of unused COVID-19 vaccines from its stockpile through the UN-backed COVAX global vaccine sharing programme to countries in South and Southeast Asia as well as Africa.

India: Defence Ministry clears mega naval project

New Delhi, Jun 4 (PTI) The Defence Ministry on Friday cleared a mega project to build six conventional submarines for the Indian Navy at a cost of around Rs 43,000 crore, a decision aimed at narrowing the gap with growing naval prowess of China, government sources said.

The decision was taken at a meeting of the Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh.

The DAC is the Defence Ministry's highest decision-making body on procurement.

Italy: FAO's Food Price Index surges for record 12th consecutive month in May

ROME, June 3 (Xinhua) -- World food prices surged in May, climbing for a record 12th consecutive month as supply chain issues sparked by the coronavirus pandemic combined to push prices nearly 40 percent above levels from a year earlier, according to data released on Thursday by the United Nations Food and Agriculture Organization (FAO).

USA: Biden widens list of Chinese firms off-limits for investment

(AP) --- President Joe Biden has nearly doubled the list of Chinese companies whose shares are off-limits to U.S. investors in the latest sign he is not softening Washington’s stance toward Beijing.

An executive order issued late Thursday says it aims to “solidify and strengthen” an order signed last year by his predecessor Donald Trump by strengthening controls on investments in Chinese companies that the U.S. says are linked to defense and surveillance.

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