*TOP NEWS OF THE DAY* 1. Global economy loses $1.6 trn as t | Finlight

*TOP NEWS OF THE DAY*

1. Global economy loses $1.6 trn as the world struggles to avoid a new Cold War

2. PM Modi to attend third Quad leaders' summit in Tokyo on May 24

3. Indonesia to lift palm oil export ban from Monday, says President

4. S&P cuts India's growth forecast for FY23 to 7.3%, sees inflation at 6.3%

5. China is in talks with Russia to buy oil for strategic reserves.

6. Cars24 asks 600 employees to leave on the basis of 'poor performance'

7. Maruti to invest Rs 18k cr in Sonipat plant to roll out 1 million units/year

8. Reserve Bank of India (RBI) instructed banks, ATM networks, white-label ATM operators, and the National Payments Corporation of India (NPCI) to make an interoperable card-less cash withdrawal at cash machines available.