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A daily pick of news events that happened on this day in history from the pages of Gulf News dated November 25, 1978.
Devastation as cyclone hits India
A Cyclone has smashed into the Pamban coast of southern India opposite Sri Lanka, triggering tidal waves which flooded 48 villages and killed at least ten people.
Click here to view Gulf News page on November 26, 1978(pdf)
The Madras weather bureau reported that the cyclone, apparently the same one that devastated Sri Lanka, has moved from the eastern coast of Tamil Nadu toward Kerala state on India's southwestern coast.
Oil tax laws are eased
The Ruler of Ras Al Khaimah has amended tax laws to encourage firms, to look for oil in the territory.
His Highness Shaikh Saqar Bin Mohammed Al Qasimi amended the 1969 tax law so oil companies could charge expenses of one area of their activities against another. The amendment also enables firms to count all their liabilities, including deferred costs, against the profits of a lucrative section.
Muldoon is back-just
New Zealanders returned Prime Minster Robert Muldoon to power in general election, but slashed his majority drastically in apparent displeasure at his tough economic policies. The opposition Labour Party benefited from the apparent protest vote by snatching seats from the Government and reducing Muldoon's majority from 22 to six seats.
Money system tension eased
France and Britain have defused much of the tension over the proposed European Monetary System.
Alter a day of talks in Paris with British Prime Minister James Callaghan, President Valery Giscard D'Estaing said France would not object to Britain delaying entry into the new stable currency zone, due to come into operation on January 1. The French promise not to slam the door clearly pleased British officials, who saw it as a softening of the Paris government's position.
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