The Narendra Modi government is widely expected to take steps to boost investor confidence in the oil and gas sector. What needs to be seen is how the new government tackles the controversial issue of revising domestic natural gas prices.

The UPA government failed to implement the new pricing regime based on Rangarajan formula as the Election Commission played spoilsport. Had the decision been implemented, the gas price would have nearly doubled from $4.2 per mBtu now to $8.4/mmBtu.

NEW YORK: New York raised the minimum age to buy cigarettes to 21 on Sunday, in its latest initiative to encourage healthier behavior among residents.

The law, signed November 19 shortly before former mayor Michael Bloomberg finished his second term, had a six-month waiting period before it came into effect, but its impact can already be clearly felt.

LONDON: Britain's AstraZeneca on Monday rejected a sweetened and "final" offer from Pfizer , leaving it uncertain if the US drugmaker would pull off its plan to create the world's biggest pharmaceuticals group.

The rebuff came nine hours after Pfizer said on Sunday it had raised its takeover offer to 55 pounds a share, or around 70 billion pounds ($118 billion) in total, and would walk away if AstraZeneca did not accept it.

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At least 26 people, most believed to be children, were killed in northern Colombia when the bus they were travelling in caught fire. The accident happened on Sunday near the town of Fundacion near the Carribean coast in Colombia's Magdalena department, authorities said.

According to the mayor of the town of Fundacion, Luz Stella Daran, 40 to 50 children had been travelling on the bus.

An army jawan was killed and two of his colleagues were injured when militants triggered an IED explosion targeting a patrol team along the LoC in Akhnoor area of Jammu district, a senior army officlal said today.

One jawan was killed and two others suffered injuries when a patrol party was targeted by terrorists with an Improvised Explosive Device along Jogwan forward belt in Akhnoor border area of Jammu district yesterday, the army official said. The deceased has been identified as Sepoy Bhikale. The injured jawans - Head Constable Vinod Kumar and Lance Naik Amol Kumar - have been admitted to the military hospital, Northern Command for treatment.

Andhra Pradesh Governor ESL Narasimhan authorised expenditure funds of Andhra Pradesh and Telangana states here today, for a period of four months from June 2, 2014. The decision was taken at a high level meeting with senior officials on the bifurcation of Andhra Pradesh held at the Raj Bhavan here, according to a press communiqué from the press secretary to the Governor.

The budget details for Andhra Pradesh is Rs 34,595 crore with a revenue budget of Rs 28,626 crore and a capital budget of Rs 3,882 crore.

Yoga guru, Baba Ramdev, has said that with the BJP-led National Democratic Alliance (NDA) prime minister- designate Narendra Modi at the helm of affairs after a historic win in the general election, the stature of India will rise vis-a-vis giants like the United States (US) and China.

Addressing a gathering in New Delhi, Ramdev expressed his confidence in the leadership of Modi. "Now Indian languages will get respect, patriotism will be honoured, saints will be revered, Indian culture will be appreciated and India will hold its head high before the rest of the world. India will be able to stand on an equal platform as US and China and our rupee will not be demeaned before the dollar and the pound," Ramdev said.

Iranian Foreign Minister has said that reaching a final nuclear deal with world powers is still within reach.

His comments came after Iran and six world powers - Britain, China, France, Russia, the US and Germany - ended a fourth round of nuclear talks in Vienna with little progress to report, Xinhua reported.

Iran says its nuclear energy programme is for peaceful purposes. "Agreement is possible. But illusions need to go. Opportunity shouldn't be missed again," Zarif said on Twitter.

Thousands crammed into boats and army trucks as they fled their homes in Serbia and Bosnia on Sunday after record rainfall turned the Sava river into a deadly torrent and caused the worst floods in more than a century. Officials say the disaster has killed at least 44 people so far. Some towns have been completely cut off and rescue teams feared the worst as they were finally able to move in.

Some 10,000 people have been evacuated so far from the worst affected areas of northern Bosnia, but in some places like the town of Samac, hundreds of stranded people were still waiting to be rescued.

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