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Pound heads for two-year low as holidays begin

Pound heads for two-year low as holidays begin

Business
The pound is heading for two-year lows against the dollar as markets react to continuing Brexit uncertainty and signs that the UK economy is slowing.The currency fell sharply after data showed slowing sales at UK retailers and economists forecast a contraction in the economy in the second quarter.Against the dollar, the pound fell below $ 1.25 and was close to its lowest level since April 2017.The pound was also at a six-month low against the euro at just above €1.11.With the holiday season getting underway, it means travellers from the UK will getting fewer dollars and euros for their pounds.Sterling has been swayed by uncertainty in the aftermath of the EU referendum, but has been more stable in recent months because of confidence about the UK economy.H
Kotak to begin deploying money from two dedicated funds

Kotak to begin deploying money from two dedicated funds

Finance
MUMBAI: Kotak Investment Advisors, which manages about $ 3.5 billion worth of assets, is set to begin deploying the money it has raised in the last one month via two funds that are backed by Abu Dhabi Investment Authority (ADIA). “Big opportunity lies ahead in India in the distressed assets and commercial real estate space,” said S Sriniwasan, managing director, Kotak Investment Advisors. “While we are in advanced talks with loan assets that have not yet reached NCLTs, we have also identified two office properties in Bangalore and Hyderabad.” Sriniwasan said, “We have significant viability to deploy up to 20% of the capital raised over the next two to three months.” The advisory arm of Kotak group has mopped up over $ 1 billion through the two funds as t...
Climate change: 'World at crossroads' warning as key talks begin

Climate change: 'World at crossroads' warning as key talks begin

Science
Media playback is unsupported on your device Four senior figures behind efforts to limit climate change have warned that the planet "is at a crossroads" as key talks opened a day early in Poland. In a rare move, four former presidents of the United Nations-sponsored talks called for decisive action.The meeting in Katowice is the most critical on climate change since the 2015 Paris agreement. Experts say that drastic cuts in emissions will be needed if the world is to reach targets agreed in Paris. Negotiators at the COP24 conference convened a day early because they are under pressure to make progress. What's so different about this meeting?This Conference of the Parties (COP) is the first to be held since the landmark Intergovernmental Panel...
North, South begin clearing away landmines along Korean border

North, South begin clearing away landmines along Korean border

World
SEOUL, Sept. 30 (UPI) -- North and South Korean authorities began removing landmines along the border on Monday as part of the process to ease military tensions, agreed in the third inter-Korean summit. Seoul's defense ministry said it will start removing landmines in the Joint Security Areas to disarm one of the most heavily guarded areas on the border, according to South Korean media Kyunghyang Sinmun. The North and South will then withdraw guard posts and soldiers, as well as surveillance and firing equipment from the area -- a symbolic step to end hostilities from the 1950-53 Korean War. The North and South also began to clear mines on an old battleground in the Demilitarized Zone before they launch a joint excavation for remains of soldiers who died in the Korean War. ...