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Indian stocks slump on global monetary policy tightening; Rupee at new low
Indian stocks extended their losses from the previous session and declined further on Friday morning following the latest policy rates hike by the US Federal Reserve in its fight against high inflation.At 10.05 am, Sensex and Nifty traded in the 0.8-0.9 per cent range. Further tightening of monetary policy in the US essentially means that investors will have a tendency to move to the US markets for better and stable returns.
Meanwhile, the Rupee tasted yet another lifetime low on Friday morning after the US dollar index strengthened to a two-decade high this week, on hopes that demand for safe-haven currency such as the dollar would pick up.This morning, the Rupee opened 25 paise lower to touch a record low of 81.09 versus the US dollar, against Thursday’s close of 80.86. Yesterday’s depreciation was the biggest single-day fall for the rupee since February 24.
The US Federal Reserve had raised the repo rate by 75 basis points — which is the third consecutive hike of the same magnitude, in line with expectations. The Fed also hinted that more rate hikes were coming and that these rates would stay elevated until 2024.The US central bank seeks to achieve maximum employment and inflation at the rate of 2 percent over the long run and it anticipates that the ongoing hikes in the target range will be appropriate.
Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline.Consumer inflation in the US though declined marginally in August to 8.3 per cent from 8.5 percent in July but is way above the 2 percent goal.
India’s forex reserves are at two-year low. The reserves have dropped by almost USD 80 billion since the escalation of the Russia-Ukraine tensions into war earlier this yearIndia’s forex reserves have been consistently dropping for the past few month, on account of RBI’s likely intervention in the market to defend the depreciating rupee.
Typically, the RBI intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee.A depreciation in the rupee typically makes imported items costlier. “The Dollar Index may continue with its positive bias as the US Fed decided to raise interest rate by 75 bps, for a third consecutive month and signalled that it would continue to lift rates this year at a most rapid pace to combat inflation, which is running hot,” said ICICI Securities.
– Statesman/ANN
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Over 40 persons injured in head on crash at Talalla
Over 40 persons have been injured (some critically) as two buses one travelling from Galle to Ampara and the other from Tangalle to Matara crashed head on at Talalla Matara this morning.
The injured have been admitted to the Matara General Hospital and Bathhegama District Hospital.
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Turkiye beat US 3-2 with stoppage-time goal in dead rubber
Turkiye beat a heavily changed United States 3-2 with a late Kaan Ayhan winner in an action-packed dead-rubber clash that gave the 2026 World Cup cohosts their sternest test so far ahead of the knockout rounds.
Already crowned the Group D winners, the US arrived in Los Angeles seeking to extend a perfect start with a third win, but with more than an eye on next Wednesday’s last 32 meeting against Bosnia and Herzegovina.
For Turkiye, already eliminated and without even a goal after disastrous losses to Paraguay and Australia, the only objective was to restore some pride.
Despite the low stakes and substantially reshuffled lineups for both teams, a packed Los Angeles Stadium was in a deafening mood.

For the third game running, the US got off to a dream start. One of nine changes, backup centre-back Auston Trusty, was unmarked at the far post from a US corner, given time to cushion the ball with his left foot, then blast it home.
It was the Celtic defender’s first international goal, and – at just under three minutes – the second-fastest by the US at a World Cup.
But Turkiye did not surrender. Having not scored in 62 efforts across their first two games, it was the 63rd time lucky for the Turks, and their star man, Arda Guler.
The Real Madrid forward duped Mark McKenzie with a clever dummy, allowing the ball to run down the right flank to Baris Alper Yilmaz.
Yilmaz crossed it back to Guler, who smashed it past Matt Turner to equalise in the 10th minute.

With Brad Pitt and Edward Norton among the Hollywood crowd, the game threatened to become a fight club, as Turkiye’s bench rushed the field to protest a foul by the combative Sebastian Berhalter, who earned a yellow.
The Americans thought they had restored the lead, with McKenzie the second US centre-back to put the ball in the net. But his sharp response to Ricardo Pepi’s saved shot was ruled offside.
In the 31st minute, the US found themselves behind for the first time this World Cup.
Guler spotted Eren Elmali’s overlapping run, feeding it to the wing-back, who cut the ball back from the left byline to Yilmaz, who steered it beyond the keeper.
‘Captain America’ returns

The half-time break proved the perfect tonic for the US. In the 49th minute, they were back level from a long throw by McKenzie.
The ball was cleared by Turkiye only as far as Berhalter, who did well to smash his shot low into the bottom corner.
The crowd erupted again just before the hour mark as Mauricio Pochettino sent on Christian Pulisic, undoubtedly the US’s biggest star, who will shoulder much of the cohosts’ hopes of a deep run into the knockouts.
Nicknamed “Captain America”, Pulisic earned his own round of “USA” chants, having not appeared since aggravating an injury in the first half of the opening win against Paraguay two weeks ago.
Pulisic immediately looked lively, twice having his effort blocked from close range after darting runs from the left. He knew less about a ball that looped off his shin onto the post.
Turkiye began to knock on the door again. A Yildiz effort curled inches wide in the 72nd minute.
And deep into stoppage time, Ayhan spoiled the US party, slamming the ball home from close range.
Turkiye were jubilant, while the American players clustered in a circle after the final whistle, seemingly determined not to let the gut punch spoil a campaign that had been off to a flying start.

[Aljazeera]
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UNICEF Delegation Meets Prime Minister
A delegation from UNICEF, accompanied by the United Nations Special Representative of the Secretary-General on Violence Against Children (VAC), Dr. Najat Maalla M’jid, met with Prime Minister Dr. Harini Amarasuriya on Thursday [25 June] at the Parliament premises.
The discussion was focused on further strengthening cooperation and engagement with the Government of Sri Lanka on ensuring the protection and well-being of children, and efforts to prevent and respond to all forms of violence against children.
During the meeting, the Prime Minister acknowledged UNICEF’s continued support to Sri Lanka, particularly during the response to Cyclone Ditwah, as well as its longstanding contributions to reforms in education and early childhood education and initiatives aimed at preventing and addressing violence against children.
The Prime Minister noted that while Sri Lanka has made significant progress in developing policies, the challenge lies in ensuring their effective implementation. She emphasized the need to address gaps in institutional capacity and human resources, while strengthening coordination among the various parts responsible for child protection while highlighting the critical role of frontline workers in the delivery of child protection services.
During the discussion, representatives of UNICEF emphasized the importance of bringing together all relevant stakeholders to address gaps in child protection procedures and referral pathways. Particular attention was given to ensuring that children have clear and accessible mechanisms through which they can report abuse and seek assistance.
Dr. Najat Maalla M’jid highlighted the importance of strengthening the competencies of frontline professionals on psycho social support, early detection, defining direct signs, techniques of effective listening, and safeguarding privacy. The discussions also underscored the growing importance of protecting children from online violence and abuse, and the need to strengthen measures to ensure children’s safety in digital environments.
The meeting was attended by Dr. Najat Maalla M’jid, United Nations Special Representative of the Secretary-General on Violence Against Children; Ms. Emma Brigham, UNICEF Representative; Mr. Marc-André Franche, United Nations Resident Coordinator; officials from the Ministry of Foreign Affairs; and additional secretaries and officials from the Ministry of Education.
[Prime Minister’s Media Division]
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