INDIA: Wheat exports can continue at government level despite a ban, but not in the private sector, Commerce Secretary BVR Subrahmanyam said yesterday.

Global grain prices are soaring because of the war between Russia and Ukraine, the world’s biggest exporters, and a searing heatwave that has reduced India’s own harvest, prompting a ban on exports.

VENEZUELA: The government is offering 5-10 per cent stakes in public companies to private investors from today.

President Nicolas Maduro said: “We need capital for the development of all public companies. We need technology. We need new markets.”

The controversial reforms have been criticised by some on the left as a step towards full privatisation.

EGYPT: Islamic State claimed responsibility at the weekend for an attack that killed five soldiers in the Sinai peninsula.

The incident involved an ambush of a border guard checkpoint west of the Mediterranean city of Rafah, which borders the Gaza Strip.

The military said at least five troops, including an officer, were killed in the attack. At least seven militants also died, it said.

It was the second militant attack in less than a week.

UNITED ARAB EMIRATES: Abu Dhabi ruler Sheikh Mohammed bin Zayed al-Nahyan was appointed UAE president at the weekend.

His appointment had been expected after the death of his half-brother Khalifa on Friday. The president is picked by the autocratic rulers of the UAE’s seven constituent sheikhdoms, with the latest decision being unanimous.

The Gulf state hosts 3,500 US troops.