Xinhua Asia-Pacific news summary at 1600 GMT, March 11

TOKYO -- Japanese Prime Minister Sanae Takaichi said Wednesday that Japan will release the national oil reserves as early as Monday to deal with a possible surge in gasoline prices amid escalating tensions in the Middle East, local media reported.

Speaking to reporters at the prime minister's office, Takaichi said the situation in the Middle East has effectively prevented crude oil tankers from passing through the Strait of Hormuz, raising concerns that Japan's crude imports could drop significantly later this month, public broadcaster NHK reported. (Japan-Oil-Reserve)

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NEW DELHI -- India has decided to ease Foreign Direct Investment (FDI) norms for the countries sharing a land border with it. The decision was taken late on Tuesday evening at a federal cabinet meeting chaired by Prime Minister Narendra Modi.

The federal government issued an official statement saying that it had approved changes in guidelines on investments from countries sharing a land border with India. (India-FDI-Policy)

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COLOMBO -- A Sri Lankan court on Wednesday ordered the release of the bodies of 87 Iranian sailors recovered from a sunken warship to officials of the Iranian Embassy in Colombo.

Galle Chief Magistrate Sameera Dodangoda issued the order, advising the director of the Galle National Hospital to hand over the remains to representatives of the Iranian mission. The bodies are currently being held in two mobile cold storage units at the hospital. (Sri Lanka-Iran-Warship)

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KUALA LUMPUR -- Comprehensive steps will be taken to ensure any impact from the ongoing conflict in the Middle East on domestic food and energy prices will be mitigated, Prime Minister Anwar Ibrahim said on Wednesday.

Certain austerity measures will also be implemented, including foreign travel for ministers, and all government departments will be limited to trips already scheduled and scaling back Eid al-Fitr celebrations by government departments and government-linked companies, Anwar said in a televised speech. (Malaysia-Austerity-Mideast) Enditem