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Daily News Digest April 16, 2025
NHAI Seeks Clearance for Rs 7,500 Crore Ring Road Projects: The National Highways Authority of India urged the Odisha government to expedite forest clearances for ring road projects around Bhubaneswar and Sambalpur, aimed at decongesting urban traffic.
Fuel Prices Decrease in Bhubaneswar: Petrol prices in Bhubaneswar saw a slight decrease, with rates dropping by 17 paise per litre.
Above-Average Monsoon Predicted for 2025: The India Meteorological Department forecasts above-average monsoon rainfall for 2025, expecting 105% of the long-term average. This is anticipated to boost agricultural output, stabilise food prices, and support economic growth.
India Launches Auction for Energy Blocks: India initiated an auction for three coal bed methane blocks and 55 small oil and gas fields to enhance domestic energy production and reduce import dependency.
NATO Chief Visits Ukraine Amid Escalating Conflict: NATO Secretary General Mark Rutte made a surprise visit to Odesa, Ukraine, reaffirming NATO’s support following a deadly Russian missile strike on Sumy that killed at least 34 people. The US declined to sign a G7 statement condemning the attack, raising concerns about its commitment to Ukraine.
China Halts Rare Earth Exports Amid Trade Tensions: China announced a halt on exports of rare earth minerals, critical for technology manufacturing, escalating the ongoing global trade war.
US Seeks Access to DRC's Critical Minerals: US President Donald Trump is exploring a potential deal with the Democratic Republic of the Congo to secure valuable resources such as cobalt and lithium, essential for modern technologies. The DRC has sought US military support in return.
Retail Inflation Drops to Over 5-Year Low: India's retail inflation eased to 3.34% in March, the lowest in over five years, driven by declining food prices, particularly vegetables, eggs, and pulses. This development opens the door for potential interest rate cuts by the Reserve Bank of India to support economic growth.
India Pursues Trade Liberalisation with the US: India has chosen to pursue trade liberalisation with the United States, initiating negotiations for a bilateral trade deal aimed at achieving $500 billion in trade by 2030. The first in-person discussions are set for mid-May.
Indian Markets Rally on Tariff Relief: Indian equity indices ended on a strong note, with the Nifty closing above 23,300 and the Sensex rising by over 1,500 points, driven by tariff relief and positive economic indicators.
Saurabh Chaudhary Wins World Cup Bronze: Indian shooter Saurabh Chaudhary clinched a bronze medal at the ISSF World Cup, adding to India's medal tally in shooting sports.
Indian Chess Players Shine at FIDE Women's Grand Prix: At the FIDE Women's Grand Prix in Pune, Divya Deshmukh started with a win, while Koneru Humpy and R Vaishali drew their matches.
Manika Batra and Sreeja Akula Advance in ITTF World Cup: Indian table tennis players Manika Batra and Sreeja Akula made winning starts at the ITTF World Cup, progressing to the next rounds.
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