The ruble plunged to 108 against the dollar on Monday, down from 83 the day before, marking the currency's largest single-business-day drop since September 3, 1998.
Stagflation has a significant chance of derailing economic growth in the United States and Europe, and it will damage India's exports.
Turkey's Ilker Ayci has declined to be the CEO of Tata's Air India, a Tata official confirmed to Reuters on Tuesday, days after his appointment sparked outrage in India.
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