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By Subhadip Sircar MUMBAI (Reuters) - The rupee fell for a fourth successive session on Wednesday to mark its longest losing streak in over three months, hurt by dollar demand from oil refiners and a late fall in equities. The rupee's fall comes despite strong foreign flows into stocks and debt markets this year, as concerns about the current account deficit have revived after data earlier this month showed a spike in the April trade deficit. Global dollar strength has also hit the rupee. ...

KUALA LUMPUR (Reuters) - Malaysia's AirAsia Bhd , Southeast Asia's biggest budget airline by passenger traffic, posted a 39.23 percent fall in first-quarter profits on Wednesday, hurt mainly by higher finance costs and a foreign exchange loss on borrowings. AirAsia earned 104.79 million ringgit in the three months ended March, down from 172.44 million ringgit in the same period last year, although the operating profit was up 6 percent, according to a stock exchange filing. Earlier this month AirAsia said its passenger numbers were up 19 percent in the quarter at some 9.8 million. ...

By Abhishek Vishnoi MUMBAI (Reuters) - The BSE Sensex fell for a third consecutive session on Wednesday, to mark its lowest close in almost two weeks after Larsen & Toubro slumped nearly 6 percent as its orderbook guidance sparked worries about the health of the domestic economy. Larsen & Toubro Ltd's (L&T) guidance has sparked concerns about corporate profits after a mixed set of company results in the January-March quarter and a generally cautious tone about the outlook for Indian companies. ...

By Ross Colvin NEW DELHI (Reuters) - Afghan President Hamid Karzai said on Wednesday he had given a "wish list" of military equipment to India during a visit this week, presenting a conundrum for New Delhi as it weighs whether arming the Afghan army is in its interests. India wants to stabilise Afghanistan and is concerned about the resurgence of militant groups after foreign combat troops leave in 2014. But arming Afghanistan would alarm Pakistan. It takes issue with the influence of its old rival in Afghanistan. ...

By Michael Roddy BUDAPEST (Reuters) - Opera companies throughout the world are staging Richard Wagner's "Ring" cycle this year to fete his 200th birthday on May 22, but Hungarian conductor Adam Fischer is having no part of it during his "Wagner Days" festival in June. Fischer, who launched his festival in 2006 in the Bela Bartok concert hall at the Palace of Arts in Budapest, will have a new "Meistersinger von Nurnberg", rounding out productions of pretty much all the major operas in the Wagner canon. ...

AMMAN (Reuters) - British Foreign Secretary William Hague said on Wednesday Iran and its militant Shi'ite Lebanese ally Hezbollah were "propping up" Syrian President Bashar al-Assad and giving him increasing support. "It is very clear that Syrian regime is receiving a great deal of support, increasing support in recent months from outside Syria from Hezbollah and Iran. This is a regime that is increasingly dependent on external support," Hague said in a news conference with his Jordanian counterpart Nasser Judeh. ...

REUTERS - Malaga have had a second "suspended" one-year ban from European competition overturned, UEFA said on Wednesday, although the Spanish club still face exclusion from next season's Europa League should they qualify. The Costa del Sol club, who reached the quarter-finals of this season's Champions League, are banned from the next European competition they qualify for over the next four seasons due to delays in payments to creditors - a sanction they are appealing against to the Court of Arbitration for Sport (CAS). ...

By Nick Mulvenney SYDNEY (Reuters) - Australia batsman David Warner has been fined A$5,750 for his Twitter outburst against two journalists, the maximum financial penalty for a first offence, Cricket Australia (CA) said on Wednesday. The 26-year-old, who was playing in the Indian Premier League (IPL) when he tweeted the insults, faced a disciplinary hearing on his arrival back in Sydney on Wednesday, charged with "unbecoming behaviour". Warner was angered that a newspaper had used a picture of him next to an article on corruption in the IPL written by Robert Craddock. ...

MUMBAI (Reuters) - Indian gold rose half a percent on Wednesday to extend gains for another session but the physical market remained muted, awaiting fresh guidelines from the Reserve Bank of India (RBI) after restrictions were placed on consignment imports. To curb the widening current account deficit, India banned the import of gold on payment of margin basis, following up on a 50 percent import duty hike in January. ...

By Alexandria Sage CANNES (Reuters) - Walking the red carpet of the world's most famous film showcase is a test of nerves for celebrities, not helped by wind, rain and the chaos of hundreds of photographers shouting their names. From choosing the perfect dress and hairdo, to trying not to trip on the famous red steps, the pressure is on for movie stars and glitterati at the 12-day Cannes film festival on the swanky French Riviera which wraps up on May 26. ...

By Ben Hirschler LONDON (Reuters) - A new wave of medicines that tap the power of the immune system to fight cancer could become the biggest drug class in history, with potential sales of $35 billion a year. That bullish sales forecast by analysts at U.S. bank Citigroup highlights the growing excitement surrounding so-called immunotherapy after positive results from clinical trials conducted by companies such as Bristol-Myers Squibb and Roche Holding . ...

HARARE (Reuters) - Zimbabwe President Robert Mugabe signed a new constitution into law on Wednesday, replacing a 33-year-old document forged in the dying days of British colonial rule and paving the way for elections later this year. The constitution, approved overwhelmingly in a referendum in March, clips the powers of the president and imposes a two-term limit. However, it does not apply retroactively so the 89-year-old Mugabe could extend his 33 years in power by another decade. ...

BERLIN (Reuters) - The Court of Arbitration for Sport have rejected Japanese hammer thrower Koji Murofushi's appeal against the blocking of his election to the International Olympic Committee's Athletes Commission, CAS said on Wednesday. The court said the main reason for turning down his appeal was that the Japanese Olympic Committee (JOC) "did not comply with applicable rules and regulations". The London 2012 bronze medallist and the JOC had opted to appeal to CAS after the IOC barred him from the commission over election rules violations. ...

London, May 22 (IANS) China welcomes "constructive and sensible advice" and suggestions on Tibet's development, Chinese Tibetologists said here.

Mumbai, May 22 (IANS) A hair oil brand, endorsed by Bollywood actress Deepika Padukone, has come on board as the official partner of her forthcoming movie "Yeh Jawaani Hai Deewani".

New Delhi, May 22 (IANS) Political leaders were hard at debate Wednesday as the UPA-II regime completed four years with the clamour of corruption and charges of misgovernance seeming to drown out claims of achievements. Some opinions from Congress leaders, allies, analysts and the opposition on their assessment of the government and the road ahead:

Manama, May 22 (IANS) Bahrain's Interior Minister Wednesday said an Iranian drone was spotted in Bahrain's airspace in the northern part of the country near Saudi Arabia.

New Delhi, May 22 (IANS) The Delhi High Court Wednesday issued notice to police on a plea of Haryana's former minister Gopal Goyal Kanda's employee Aruna Chaddha against the framing of fresh charge of abetment of rape against her in the Geetika suicide case.

Colombo, May 22 (IANS) Sri Lanka denied Wednesday plans to roll back power sharing mechanisms with the Tamil minority despite attempts to stop long overdue elections in the former war-torn north.

Mumbai, May 22 (IANS) Megastar Amitabh Bachchan is disappointed with the spot-fixing scandals surrounding the ongoing Indian Premier League (IPL). Nevertheless, he believes it has been an exceptional season.

Dubai, May 22 (IANS) The problem of Saudi Arabian immigration authorities not accepting newly designed Indian passports has been resolved, according to the Indian embassy in Riyadh.

Mumbai, May 22 (IANS) Bollywood actor Kunal Roy Kapoor is currently in search of a leading man for his new directorial project. He says the script for the film is ready, and a producer is also on board for it already.

Luhoe (China), May 22 (IANS) Chinese national men's volleyball team defeated Kazakhstan 3-0 at the China International Men's Volleyball Tournament here.

New Delhi, May 22 (IANS) How about adding some colour and jazz to your home this season with new bedsheets, bed covers and blankets in bright and bold shades and contemporary designs?

Addis Ababa, May 22 (IANS) Indian Vice President Hamid Ansari will visit Ethiopia to attend the 50th anniversary celebrations of the Organisation of African Unity/African Union (AU) on May 25.

Panaji, May 22 (IANS) The anti-incumbency factor could affect the United Progressive Alliance (UPA) in the 2014 Lok Sabha polls, a Congress MP and former Goa chief minister Francisco Sardinha said Wednesday.