Heavily pregnant Rohingya mother Rashida Khatun fled her home in a remote village in Myanmar's Rakhine state two years ago, bone-tired but desperate to find a safe place to give birth.

After walking for hours with her husband and three children, Khatun took a treacherous sea journey in bad weather to reach the southeastern tip of Bangladesh.

The family took shelter beside a road and erected a makeshift roof with twigs and a polythene sheet.

Several hours later, Khatun gave birth to Ahmad Shah in the pouring rain, helped by other Rohingya women also sheltering nearby.

"I was so tired. Yet I wanted to give a safe birth to my unborn baby," the 29-year-old mother told AFP.

"I thought he wouldn't survive because we were getting drenched by the rain."

Shah turned two on Sunday -- the second anniversary of the mass exodus of some 740,000 Rohingya who fled a brutal military crackdown in western Myanmar and took refuge in vast, squalid camps in Bangladesh.

His birth, and his family's ordeal, are a reminder of the struggles the stateless Muslim minority went through to flee their homeland.

Some 200,000 Rohingya took part in a rally at the world's largest refugee settlement on Sunday to mark what the refugees describe as "Genocide Day".

Shah's father Mohammad Selim said his son was a miracle child.

"Allah saved my kid that night. All praise to Him," said Selim, an imam at a mosque at Balukhali refugee camp.

He said his other children still remembered the trauma of the perilous journey.

"I am so happy for Shah that he didn't have to go through those woes. I will make him an Islamic scholar someday," he added.

Heavily pregnant Rohingya mother Rashida Khatun fled her home in a remote village in Myanmar's Rakhine state two years ago, bone-tired but desperate to find a safe place to give birth.

Heavily pregnant Rohingya mother Rashida Khatun fled her home in a remote village in Myanmar's Rakhine state two years ago, bone-tired but desperate to find a safe place to give birth. After walking for hours with her husband and three children, Khatun took a treacherous sea journey in bad weather to reach the southeastern tip of Bangladesh. The family took shelter beside a road and erected a makeshift roof with twigs and a polythene sheet. Several hours later, Khatun gave birth to Ahmad Shah in the pouring rain, helped by other Rohingya women also sheltering nearby. "I was so tired. Yet I wanted to give a safe birth to my unborn baby," the 29-year-old mother told AFP. "I thought he wouldn't survive because we were getting drenched by the rain." Shah turned two on Sunday -- the second anniversary of the mass exodus of some 740,000 Rohingya who fled a brutal military crackdown in western Myanmar and took refuge in vast, squalid camps in Bangladesh. His birth, and his family's ordeal, are a reminder of the struggles the stateless Muslim minority went through to flee their homeland. Some 200,000 Rohingya took part in a rally at the world's largest refugee settlement on Sunday to mark what the refugees describe as "Genocide Day". Shah's father Mohammad Selim said his son was a miracle child. "Allah saved my kid that night. All praise to Him," said Selim, an imam at a mosque at Balukhali refugee camp. He said his other children still remembered the trauma of the perilous journey. "I am so happy for Shah that he didn't have to go through those woes. I will make him an Islamic scholar someday," he added.

'Miracle' Rohingya baby turns two on crackdown anniversary

Karnataka Chief Minister BS Yediyurappa on Monday said that the inter-ministerial central team is in the state to assess the damage caused due to the floods and will submit a report to the Centre in two days.

"The Centre has sent a study team to our state. The team has come to study flood-hit areas here. They will give the report to the Centre in two days. I am sure that the central government will give sufficient funds to the state," he told reporters here.

"The central government has sent the team to our state first. They know the situation in the state. Amit Shah and Nirmala Sitharaman had come here before and did aerial surveys," he added.

The Home Ministry has constituted teams to conduct on-the-spot situation assessments of the damage and relief operations in the flood-affected states of Assam, Meghalaya, Tripura, Bihar, Uttarakhand, Himachal Pradesh, Gujarat, Rajasthan, Maharashtra, Kerala and Karnataka.

So far, at least 82 people have lost their lives in flood-related incidents in Karnataka.

In light of the ongoing crisis, Yediyurappa has directed the newly-inducted ministers in his cabinet to tour the flood-affected districts extensively for two days from Wednesday and asked them to provide relief to the flood victims on priority.

Karnataka Chief Minister BS Yediyurappa on Monday said that the inter-ministerial central team is in the state to assess the damage caused due to the floods and will submit a report to the Centre in two days.

Karnataka Chief Minister BS Yediyurappa on Monday said that the inter-ministerial central team is in the state to assess the damage caused due to the floods and will submit a report to the Centre in two days. "The Centre has sent a study team to our state. The team has come to study flood-hit areas here. They will give the report to the Centre in two days. I am sure that the central government will give sufficient funds to the state," he told reporters here. "The central government has sent the team to our state first. They know the situation in the state. Amit Shah and Nirmala Sitharaman had come here before and did aerial surveys," he added. The Home Ministry has constituted teams to conduct on-the-spot situation assessments of the damage and relief operations in the flood-affected states of Assam, Meghalaya, Tripura, Bihar, Uttarakhand, Himachal Pradesh, Gujarat, Rajasthan, Maharashtra, Kerala and Karnataka. So far, at least 82 people have lost their lives in flood-related incidents in Karnataka. In light of the ongoing crisis, Yediyurappa has directed the newly-inducted ministers in his cabinet to tour the flood-affected districts extensively for two days from Wednesday and asked them to provide relief to the flood victims on priority.

Karnataka floods: Inter-ministerial team to submit report to Centre in two days, says Yediyurappa

An earthquake measuring 5.1 on the Richter scale struck the eastern region of Myanmar on Monday morning, which caused tremors in Nagaland.

The quake in Myanmar took place at around 8:19 am at a depth of 80 km, according to the India Meteorological Department (IMD).

No casualty or damage to property was reported.

Tremors measuring 4.7 on the Richter scale were felt in Nagaland.

The quake occurred at around 8:20 am, 132 km east of Tuensang in Nagaland, according to the European-Mediterranean Seismological Centre (EMSC).

Nagaland is prone to earthquakes.

An earthquake measuring 5.1 on the Richter scale struck the eastern region of Myanmar on Monday morning, which caused tremors in Nagaland. The quake in Myanmar took place at around 8:19 am at a depth of 80 km, according to the India Meteorological Department (IMD).

An earthquake measuring 5.1 on the Richter scale struck the eastern region of Myanmar on Monday morning, which caused tremors in Nagaland. The quake in Myanmar took place at around 8:19 am at a depth of 80 km, according to the India Meteorological Department (IMD). No casualty or damage to property was reported. Tremors measuring 4.7 on the Richter scale were felt in Nagaland. The quake occurred at around 8:20 am, 132 km east of Tuensang in Nagaland, according to the European-Mediterranean Seismological Centre (EMSC). Nagaland is prone to earthquakes.

Earthquake hits eastern Myanmar, tremors felt in Nagaland

The Ministry of Home Affairs on Monday said that former Prime Minister Manmohan Singh continues to have a 'Z+' security cover.

MHA's clarification came amidst reports claiming that the government is likely to withdraw the Special Protection Group (SPG) from former Prime Minister's security detail.

&nbsp;"The current security cover review is a periodical and professional exercise based on threat perception that is purely based on a professional assessment by security agencies. Dr Manmohan Singh continues to have a Z+ security cover," read a statement from MHA.

Singh, who was the Prime Minister of India from 2004 to 2014, was last week<a href="https://www.wionews.com/india-news/manmohan-singh-elected-unopposed-as-member-of-rajya-sabha-rajasthan-chief-minister-ashok-gehlot-tweets-244110"> elected unopposed to the Rajya Sabha from Rajasthan</a>.

The BJP did not field any candidate against the senior Congress leader.

The Ministry of Home Affairs on Monday said that former Prime Minister Manmohan Singh continues to have a 'Z+' security cover. MHA's clarification came amidst reports claiming that the government is likely to withdraw the Special Protection Group (SPG) from former Prime Minister's security detail.

The Ministry of Home Affairs on Monday said that former Prime Minister Manmohan Singh continues to have a 'Z+' security cover. MHA's clarification came amidst reports claiming that the government is likely to withdraw the Special Protection Group (SPG) from former Prime Minister's security detail. "The current security cover review is a periodical and professional exercise based on threat perception that is purely based on a professional assessment by security agencies. Dr Manmohan Singh continues to have a Z+ security cover," read a statement from MHA. Singh, who was the Prime Minister of India from 2004 to 2014, was last week elected unopposed to the Rajya Sabha from Rajasthan. The BJP did not field any candidate against the senior Congress leader.

Former prime minister Manmohan Singh continues to have Z+ security cover: Home Ministry

The Central Board of Indirect Taxes and Customs (CBIC) said on Monday it has given marching orders to 22 senior officers following an investigation into charges of corruption against them.

It has compulsorily retired these officers of the rank of superintendent/AO under Fundamental Rule 56 (J) in public interest due to corruption and other charges besides traps laid by the Central Bureau of Investigation (CBI).

The move is in line with Prime Minister Narendra Modi's address to the nation on Independence Day. "Some black sheep in the tax administration may have misused their powers and harassed taxpayers, either by targeting honest assesses or by taking excessive action for minor or procedural violations," he had said.

A CBIC official said,&nbsp;"We have recently taken the bold step of compulsorily retiring a significant number of tax officials, and we will not tolerate this type of behaviour."

On June 27, high-ranking Indian Revenue Service officers including 12 officers from the Central Board of Direct Taxes were compulsorily retired.

Authorities have also been trying to maximise revenue collection and enlarge the basket of tax-paying people in the country. The government wants to enhance this base so that more people pay legitimate taxes on their income.

The Central Board of Indirect Taxes and Customs (CBIC) said on Monday it has given marching orders to 22 senior officers following an investigation into charges of corruption against them.

The Central Board of Indirect Taxes and Customs (CBIC) said on Monday it has given marching orders to 22 senior officers following an investigation into charges of corruption against them. It has compulsorily retired these officers of the rank of superintendent/AO under Fundamental Rule 56 (J) in public interest due to corruption and other charges besides traps laid by the Central Bureau of Investigation (CBI). The move is in line with Prime Minister Narendra Modi's address to the nation on Independence Day. "Some black sheep in the tax administration may have misused their powers and harassed taxpayers, either by targeting honest assesses or by taking excessive action for minor or procedural violations," he had said. A CBIC official said, "We have recently taken the bold step of compulsorily retiring a significant number of tax officials, and we will not tolerate this type of behaviour." On June 27, high-ranking Indian Revenue Service officers including 12 officers from the Central Board of Direct Taxes were compulsorily retired. Authorities have also been trying to maximise revenue collection and enlarge the basket of tax-paying people in the country. The government wants to enhance this base so that more people pay legitimate taxes on their income.

22 senior officers facing corruption charges shunted out

At least one person died while four others were injured in a blast near Gangai Amman Temple in Thiruporur on Sunday, police said.

The 'mysterious' explosion sent shock waves among the people in the locality and they had immediately gathered around the temple.&nbsp;

To their dismay, they noticed a portion of the temple's compound wall and that of the neighbouring structure was damaged due to the explosion.

Preliminary investigation by the police revealed that it was a country bomb that had exploded.&nbsp;

Someone had hidden the bomb in the temple tank and during the cleaning of the tank, workers had removed it and placed the bomb on a tree nearby. It exploded after it fell.

Further investigation is on.

At least one person died while four others were injured in a blast near Gangai Amman Temple in Thiruporur on Sunday, police said. The 'mysterious' explosion sent shock waves among the people in the locality and they had immediately gathered around the temple.

At least one person died while four others were injured in a blast near Gangai Amman Temple in Thiruporur on Sunday, police said. The 'mysterious' explosion sent shock waves among the people in the locality and they had immediately gathered around the temple. To their dismay, they noticed a portion of the temple's compound wall and that of the neighbouring structure was damaged due to the explosion. Preliminary investigation by the police revealed that it was a country bomb that had exploded. Someone had hidden the bomb in the temple tank and during the cleaning of the tank, workers had removed it and placed the bomb on a tree nearby. It exploded after it fell. Further investigation is on.

Tamil Nadu: One killed, four injured in blast near Gangai Amman Temple in Thiruporur

Former Karnataka Chief Minister and Congress leader Siddaramaiah on Sunday came down heavily on JD(S) leader HD Kumaraswamy for treating him as an "enemy" and blamed him for the slump of Congress-JD(S) coalition government in the state.

"HD Kumaraswamy never treated me as a friend or confidant, but instead considered me as an enemy and that led to all the problems," the leader told the media persons.&nbsp;

The war of words between the two leaders has been going on unabatedly since last month after their 14-months long turbulent coalition government lost the vote of confidence in the Assembly.

Siddaramaiah had earlier held former Prime Minister Deve Gowda, father of former HD Kumaraswamy, responsible for the collapse of the government.

His rebuttal came in the light of accusations levelled by Gowda, who said that the former wanted to make BJP leader BS Yediyurappa the chief minister instead of his son Kumaraswamy, adding that the two had worked together in the past.

Former Karnataka Chief Minister and Congress leader Siddaramaiah on Sunday came down heavily on JD(S) leader HD Kumaraswamy for treating him as an "enemy" and blamed him for the slump of Congress-JD(S) coalition government in the state.

Former Karnataka Chief Minister and Congress leader Siddaramaiah on Sunday came down heavily on JD(S) leader HD Kumaraswamy for treating him as an "enemy" and blamed him for the slump of Congress-JD(S) coalition government in the state. "HD Kumaraswamy never treated me as a friend or confidant, but instead considered me as an enemy and that led to all the problems," the leader told the media persons. The war of words between the two leaders has been going on unabatedly since last month after their 14-months long turbulent coalition government lost the vote of confidence in the Assembly. Siddaramaiah had earlier held former Prime Minister Deve Gowda, father of former HD Kumaraswamy, responsible for the collapse of the government. His rebuttal came in the light of accusations levelled by Gowda, who said that the former wanted to make BJP leader BS Yediyurappa the chief minister instead of his son Kumaraswamy, adding that the two had worked together in the past.

Former Karnataka chief minister Kumaraswamy considered me as enemy: Siddaramaiah

The Indian rupee opened the week lower and slipped by 32 paise at 71.98 per dollar in early trade on Monday against its previous close 71.66.

The Indian currency rose on Friday on hopes of revival measures from Finance Minister Nirmala Sitharaman who announced the first stimulus package for India Inc amid the domestic and global economic slowdown.

Market experts said the rupee's lower opening was largely due to weak global cues.&nbsp;

Both Asian and US markets crashed after the US-China trade war intensified.

Meanwhile, China`s yuan slumped to a fresh 11-year low against the dollar.&nbsp;

The offshore yuan fell to a record low of 7.1850, before regaining some ground to around 7.1595.

On Friday, US President Donald Trump announced an additional duty on 550 billion dollars of targeted Chinese goods after China unveiled retaliatory tariffs on 75 billion dollars worth of American goods.

The Indian rupee opened the week lower and slipped by 32 paise at 71.98 per dollar in early trade on Monday against its previous close 71.66. The Indian currency rose on Friday on hopes of revival measures from Finance Minister Nirmala Sitharaman who announced the first stimulus package for India Inc amid the domestic and global economic slowdown.

The Indian rupee opened the week lower and slipped by 32 paise at 71.98 per dollar in early trade on Monday against its previous close 71.66. The Indian currency rose on Friday on hopes of revival measures from Finance Minister Nirmala Sitharaman who announced the first stimulus package for India Inc amid the domestic and global economic slowdown. Market experts said the rupee's lower opening was largely due to weak global cues. Both Asian and US markets crashed after the US-China trade war intensified. Meanwhile, China`s yuan slumped to a fresh 11-year low against the dollar. The offshore yuan fell to a record low of 7.1850, before regaining some ground to around 7.1595. On Friday, US President Donald Trump announced an additional duty on 550 billion dollars of targeted Chinese goods after China unveiled retaliatory tariffs on 75 billion dollars worth of American goods.

Rupee starts the week lower at 71.98 for a US dollar

Domestic equity benchmark BSE Sensex up by 150 points in early trade on Monday.

The 30-share index was trading 36,885.92 at 9:30am.

Similarly, the broader NSE Nifty above 10,000.

On Friday,&nbsp;Finance minister Nirmala Sitharaman announced a big rollback on taxation asserting&nbsp;that there would be no surcharge on long and short term capital gain.

Addressing a press conference, the finance minister said GST returns will be simplified even further. Sitharaman added that there would be no&nbsp;surcharge for FPI and domestic investors in the market.

"Friday's announcement is a turning point for domestic market. It could have been better if the global factors were also accommodating," said Sunil Sharma, chief investment officer at Sanctum Wealth Management in Mumbai.

Shares of Yes Bank Ltd and Indiabulls Housing Finance Ltd were among the top gainers on the NSE Nifty, rising over 3% each.

Domestic equity benchmark BSE Sensex up by 150 points in early trade on Monday. The 30-share index was trading 36,885.92 at 9:30am. Similarly, the broader NSE Nifty above 10,000.

Domestic equity benchmark BSE Sensex up by 150 points in early trade on Monday. The 30-share index was trading 36,885.92 at 9:30am. Similarly, the broader NSE Nifty above 10,000. On Friday, Finance minister Nirmala Sitharaman announced a big rollback on taxation asserting that there would be no surcharge on long and short term capital gain. Addressing a press conference, the finance minister said GST returns will be simplified even further. Sitharaman added that there would be no surcharge for FPI and domestic investors in the market. "Friday's announcement is a turning point for domestic market. It could have been better if the global factors were also accommodating," said Sunil Sharma, chief investment officer at Sanctum Wealth Management in Mumbai. Shares of Yes Bank Ltd and Indiabulls Housing Finance Ltd were among the top gainers on the NSE Nifty, rising over 3% each.

Sensex up by 150 points in early trade; Nifty over 10,000

Gold prices in India jumped 1% on Monday to record levels, following gains in overseas markets and as the rupee fell to the lowest level in 2019, dampening retail demand further in the world's second-biggest consumer of the precious metal, dealers said.

Local gold futures hit an all-time high of 39,196 rupees&nbsp;per 10 grams in early trade, taking their gains to nearly 25% in 2019.

The rupee plunged to its lowest level in 2019 on Monday after a sharp re-escalation in the US-China trade war whacked investor confidence and darkened the global economic outlook.

Local silver futures were 1% higher at 45,058 rupees per kg, after rising to 45,148 rupees earlier in the day, the highest since October&nbsp;3, 2016.

Gold prices in India jumped 1% on Monday to record levels, following gains in overseas markets and as the rupee fell to the lowest level in 2019, dampening retail demand further in the world's second-biggest consumer of the precious metal, dealers said.

Gold prices in India jumped 1% on Monday to record levels, following gains in overseas markets and as the rupee fell to the lowest level in 2019, dampening retail demand further in the world's second-biggest consumer of the precious metal, dealers said. Local gold futures hit an all-time high of 39,196 rupees per 10 grams in early trade, taking their gains to nearly 25% in 2019. The rupee plunged to its lowest level in 2019 on Monday after a sharp re-escalation in the US-China trade war whacked investor confidence and darkened the global economic outlook. Local silver futures were 1% higher at 45,058 rupees per kg, after rising to 45,148 rupees earlier in the day, the highest since October 3, 2016.

India gold futures jump to record, silver at three-year high

Oil prices fell on Monday, pushing US crude to its lowest in more than two weeks, as an intensifying US-China trade war knocked confidence in the global economy.

Brent crude was down 63 cents, or 1.1%, at $58.71 a barrel by 0232 GMT, having earlier touched $58.24, the lowest since August 15.

US oil was down 68 cents, or 1.3%, to $53.49 a barrel, having earlier fallen to $52.96, the lowest since Aug. 9.

Concerns about an economic slowdown are being fanned by a ratcheting up of trade tensions between the United States and China.

China's commerce ministry said late last week it would impose additional tariffs of 5% or 10% on a total of 5,078 products originating from the United States, including crude oil, agricultural products such as soybeans, and small aircraft.

In retaliation, President Donald Trump said he was ordering US companies to look at ways to close operations in China and make products in the United States.

"The only thing that will lift the storm clouds over oil markets this week will be if both China and the US talk and decide to mutually take a step back," said Jeffrey Halley, market analyst at Oanda. "I can't see that happening."

US Federal Reserve chair Jerome Powell told an annual economic symposium in Jackson Hole, Wyoming that the US economy is in a "favourable place" and the Federal Reserve will "act as appropriate" to keep the current economic expansion on track."

The remarks gave few clues about whether the central bank will cut interest rates at its next meeting.

But exacerbating concern over the possibility of recession, US manufacturing industries registered their first month of contraction in almost a decade.

The Brent/WTI spread was at minus $5.24, after widening 60 cents to settle at minus $5.17 on Friday. The spread blew out after China included US oil for the first time in its tariff moves.

Hedge funds and other money managers raised their bullish wagers on US crude to a three-month high in the latest week, the US Commodity Futures Trading Commission (CFTC) said.

US energy companies cut the most oil rigs in about four months last week, with the rig count falling to the lowest since January 2018, as producers cut spending on new drilling and completions.

Oil prices fell on Monday, pushing US crude to its lowest in more than two weeks, as an intensifying US-China trade war knocked confidence in the global economy.

Oil prices fell on Monday, pushing US crude to its lowest in more than two weeks, as an intensifying US-China trade war knocked confidence in the global economy. Brent crude was down 63 cents, or 1.1%, at $58.71 a barrel by 0232 GMT, having earlier touched $58.24, the lowest since August 15. US oil was down 68 cents, or 1.3%, to $53.49 a barrel, having earlier fallen to $52.96, the lowest since Aug. 9. Concerns about an economic slowdown are being fanned by a ratcheting up of trade tensions between the United States and China. China's commerce ministry said late last week it would impose additional tariffs of 5% or 10% on a total of 5,078 products originating from the United States, including crude oil, agricultural products such as soybeans, and small aircraft. In retaliation, President Donald Trump said he was ordering US companies to look at ways to close operations in China and make products in the United States. "The only thing that will lift the storm clouds over oil markets this week will be if both China and the US talk and decide to mutually take a step back," said Jeffrey Halley, market analyst at Oanda. "I can't see that happening." US Federal Reserve chair Jerome Powell told an annual economic symposium in Jackson Hole, Wyoming that the US economy is in a "favourable place" and the Federal Reserve will "act as appropriate" to keep the current economic expansion on track." The remarks gave few clues about whether the central bank will cut interest rates at its next meeting. But exacerbating concern over the possibility of recession, US manufacturing industries registered their first month of contraction in almost a decade. The Brent/WTI spread was at minus $5.24, after widening 60 cents to settle at minus $5.17 on Friday. The spread blew out after China included US oil for the first time in its tariff moves. Hedge funds and other money managers raised their bullish wagers on US crude to a three-month high in the latest week, the US Commodity Futures Trading Commission (CFTC) said. US energy companies cut the most oil rigs in about four months last week, with the rig count falling to the lowest since January 2018, as producers cut spending on new drilling and completions.

Oil prices fall as trade war raises recession fears

Asian shares sank on Monday as the latest salvo in the Sino-US&nbsp;trade war shook confidence in the world economy and sent investors steaming to the safe harbours of sovereign bonds and gold, while slugging emerging market currencies.

Yields on benchmark 10-year Treasury debt dropped to their lowest since mid-2016, while gold hit its highest since April 2013 as risk was shunned.

There was some relief that China fixed the yuan's midpoint at a relatively steady 7.0570 per dollar when it had been trading as weak as 7.1850 offshore, countering concerns Beijing would let the currency slide to keep exports competitive.

MSCI's broadest index of Asia-Pacific shares outside Japan still shed 2.0%, and Australia 1.5%.

Japan's Nikkei lost 2.3%, while Shanghai blue chips fell 1.2%. E-Mini futures for the S&amp;P 500 eased 0.8%, and EUROSTOXX 50 futures 1.1%.

Wall Street nose-dived on Friday when President Donald Trump announced a 5% additional duty on $550 billion in targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of US products.

At the G7 meeting in France over the weekend, Trump caused some confusion by indicating he may have had second thoughts on the tariffs.

But the White House said on Sunday that Trump wished he had raised tariffs on Chinese goods even higher last week, even as he signalled he did not plan to follow through with a demand that US&nbsp;firms close operations in China.

Trump is now set to hold a joint news conference with French President Emmanuel Macron later on Monday.

"There is an uneasy feeling that the very fragile negotiations are spiralling out of control," wrote analysts at ANZ in a note.

"The escalation suggests uncertainty will continue to weigh on global trade, industrial production and investment, with no sign of a resolution."

The latest broadside overshadowed a pledge by Federal Reserve Chair Jerome Powell to "act as appropriate" to keep the US economy healthy, although he stopped short of committing to rapid-fire rate cuts.

The markets clearly believe, however, the Fed will have to act aggressively and are fully priced for at least a quarter-point cut in September and more than 110 basis points of easing by the end of 2020.

"Trump shows no signs of moderating his destructive trade policies," said JPMorgan analyst Adam Crisafulli.

"Central banks can't fully ameliorate the downside of a global trade war," he added. "Companies will enter lockdown mode in terms of spending, and eventually hiring, until at least the November 2020 election amid all the uncertainty."

Yields race lower

Yields on 10-year Treasury notes were down at 1.48%, having dived from a top of 1.66% on Friday, leaving them almost matching two-year yields.

"We continue to remain long 10's, targeting 1.3% due to a combination of weakness in the global economy and trade war uncertainty filtering through into a weaker US economy," said Priya Misra, head of global rates strategy at TD Securities.

"This will force the Fed to ease beyond a 'mid-cycle adjustment to policy'," he added. "We believe that the market is underpricing the risks of additional rate cuts in 2020."

The drop in yields initially swept the legs out from under the dollar, which slid 0.5% on Friday against a basket of currencies and was last trading at 97.654.

It took an early hit on the yen to touch 104.47, but pared the losses as the session wore on and was last at 105.21. The next major chart point is a low around 104.10 briefly touched during the "flash crash" of early January.

The euro was firm at $1.1143, having climbed 0.6% on Friday, although restrained somewhat by speculation the European Central Bank will also have to ease aggressively next month.

The dollar fared better elsewhere, making inroads on most emerging market currencies. The Turkish lira briefly tumbled as far as 6.4700 per dollar at one stage.

Spot gold got a boost from the slide in yields, rising 1.1% to $1,544.23 per ounce and touching its highest since April 2013.

Oil prices went the other way on worries the tariffs dispute would crimp world demand.

Brent crude futures slid 68 cents to $58.66, while US crude lost 79 cents to $53.38 a barrel.

Asian shares sank on Monday as the latest salvo in the Sino-US trade war shook confidence in the world economy and sent investors steaming to the safe harbours of sovereign bonds and gold, while slugging emerging market currencies.

Asian shares sank on Monday as the latest salvo in the Sino-US trade war shook confidence in the world economy and sent investors steaming to the safe harbours of sovereign bonds and gold, while slugging emerging market currencies. Yields on benchmark 10-year Treasury debt dropped to their lowest since mid-2016, while gold hit its highest since April 2013 as risk was shunned. There was some relief that China fixed the yuan's midpoint at a relatively steady 7.0570 per dollar when it had been trading as weak as 7.1850 offshore, countering concerns Beijing would let the currency slide to keep exports competitive. MSCI's broadest index of Asia-Pacific shares outside Japan still shed 2.0%, and Australia 1.5%. Japan's Nikkei lost 2.3%, while Shanghai blue chips fell 1.2%. E-Mini futures for the S&P 500 eased 0.8%, and EUROSTOXX 50 futures 1.1%. Wall Street nose-dived on Friday when President Donald Trump announced a 5% additional duty on $550 billion in targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of US products. At the G7 meeting in France over the weekend, Trump caused some confusion by indicating he may have had second thoughts on the tariffs. But the White House said on Sunday that Trump wished he had raised tariffs on Chinese goods even higher last week, even as he signalled he did not plan to follow through with a demand that US firms close operations in China. Trump is now set to hold a joint news conference with French President Emmanuel Macron later on Monday. "There is an uneasy feeling that the very fragile negotiations are spiralling out of control," wrote analysts at ANZ in a note. "The escalation suggests uncertainty will continue to weigh on global trade, industrial production and investment, with no sign of a resolution." The latest broadside overshadowed a pledge by Federal Reserve Chair Jerome Powell to "act as appropriate" to keep the US economy healthy, although he stopped short of committing to rapid-fire rate cuts. The markets clearly believe, however, the Fed will have to act aggressively and are fully priced for at least a quarter-point cut in September and more than 110 basis points of easing by the end of 2020. "Trump shows no signs of moderating his destructive trade policies," said JPMorgan analyst Adam Crisafulli. "Central banks can't fully ameliorate the downside of a global trade war," he added. "Companies will enter lockdown mode in terms of spending, and eventually hiring, until at least the November 2020 election amid all the uncertainty." Yields race lower Yields on 10-year Treasury notes were down at 1.48%, having dived from a top of 1.66% on Friday, leaving them almost matching two-year yields. "We continue to remain long 10's, targeting 1.3% due to a combination of weakness in the global economy and trade war uncertainty filtering through into a weaker US economy," said Priya Misra, head of global rates strategy at TD Securities. "This will force the Fed to ease beyond a 'mid-cycle adjustment to policy'," he added. "We believe that the market is underpricing the risks of additional rate cuts in 2020." The drop in yields initially swept the legs out from under the dollar, which slid 0.5% on Friday against a basket of currencies and was last trading at 97.654. It took an early hit on the yen to touch 104.47, but pared the losses as the session wore on and was last at 105.21. The next major chart point is a low around 104.10 briefly touched during the "flash crash" of early January. The euro was firm at $1.1143, having climbed 0.6% on Friday, although restrained somewhat by speculation the European Central Bank will also have to ease aggressively next month. The dollar fared better elsewhere, making inroads on most emerging market currencies. The Turkish lira briefly tumbled as far as 6.4700 per dollar at one stage. Spot gold got a boost from the slide in yields, rising 1.1% to $1,544.23 per ounce and touching its highest since April 2013. Oil prices went the other way on worries the tariffs dispute would crimp world demand. Brent crude futures slid 68 cents to $58.66, while US crude lost 79 cents to $53.38 a barrel.

Asian shares slugged, bonds bought amid trade gloom

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Zee News Rajasthan

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Riya Gupta

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