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The Japanese government recently released its annual economic policy guidelines, which include new recommendations that companies allow employees to work four days per week instead of the conventional five.&nbsp;

The coronavirus pandemic has already caused major changes in the way Japanese firms conduct business, many of which are still conservative and traditional.&nbsp;

However, as part of the government's drive to enhance the nation's work-life balance, Japan's famously hardworking workers will be urged to spend less time in the office environment.&nbsp;

Political leaders now aim to influence top corporate executives that flexible working hours, remote employment, increased interconnection, and plenty of other changes might be useful even when the deadly crisis is over.&nbsp;

Experts are split on whether the new programme, which aims to address the country's labour shortfall, will be universally embraced, with workers and management both expressing concerns about unforeseen effects.&nbsp;

Employers should be aware that while persons working four days a week may become more motivated, their output may not increase enough to compensate for the lost workday. Employees, on the other hand, are concerned about salary cuts.

The Japanese government recently released its annual economic policy guidelines, which include new recommendations that companies allow employees to work four days per week instead of the conventional five.

The Japanese government recently released its annual economic policy guidelines, which include new recommendations that companies allow employees to work four days per week instead of the conventional five. The coronavirus pandemic has already caused major changes in the way Japanese firms conduct business, many of which are still conservative and traditional. However, as part of the government's drive to enhance the nation's work-life balance, Japan's famously hardworking workers will be urged to spend less time in the office environment. Political leaders now aim to influence top corporate executives that flexible working hours, remote employment, increased interconnection, and plenty of other changes might be useful even when the deadly crisis is over. Experts are split on whether the new programme, which aims to address the country's labour shortfall, will be universally embraced, with workers and management both expressing concerns about unforeseen effects. Employers should be aware that while persons working four days a week may become more motivated, their output may not increase enough to compensate for the lost workday. Employees, on the other hand, are concerned about salary cuts.

To improve work-life balance, Japan proposes four-day working week 

Bitcoin prices have gone down below $30,000 for the first time in nearly five months as China's latest crackdown on cryptocurrencies weighed.

Bitcoin drops below $30,000 for first time since January

Activity for the private sector as a whole contracted for a second straight month due to the weaker reading for manufacturing and continued shrinking in the services sector, clouding the outlook for second-quarter economic growth in the country.

Japan's June factory activity expands at slowest pace

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Aston Martin is suing a Swiss car dealer that it says withheld customer payments for its $3 million Valkyrie sports car, the luxury carmaker said on Tuesday. 
 
The London-listed company has also ended its commercial agreement with the dealer, Nebula Project AG, saying it would now take customer deposits directly for special vehicles, such as the Valkyrie rather than involve a third party. 
 
Aston Martin is also ending agreements with AF Cars AG, which runs the British carmaker's St&nbsp;Gallen dealership in Switzerland and is led by Nebula board members, saying that some cars were sold in breach of dealership agreements. 
 
Nebula and one of its board members, Andreas Baenziger, did not respond immediately to emailed requests for comment. Florian Kamelger, another board member, said in an email that Nebula would release a statement later on Tuesday. 
 
"Both Aston Martin and its customers have been impacted by Nebula Project AG and its board members' behaviour," Aston Martin said in a statement. 
 
A source close to Aston Martin said the case will be filed in a Swiss court on Tuesday, though neither the source nor the company disclosed the size of damages being sought. 
 
Aston Martin's statement said it could face a 15 million pound ($21 million) hit to its 2021 results because of the alleged withheld payments but added that it was on course to meet financial expectations for the year. 
 
Shares in the FTSE 250 company were down 1.9% at 1897.5 pence by 0747 GMT. 
 
The Valkyrie is a limited-edition supercar that utilises Formula One technology and sells for about $3 million, though the company hasn't listed an official price. First deliveries are on track for the second half of this year, the company said. 
 
Aston Martin said it would work to ensure affected customers receive their Valkyrie cars as scheduled despite the company not having received all of their money.

Aston Martin is suing a Swiss car dealer that it says withheld customer payments for its $3 million Valkyrie sports car, the luxury carmaker said on Tuesday. The London-listed company has also ended its commercial agreement with the dealer, Nebula Project AG, saying it would now take customer deposits directly for special vehicles, such as the Valkyrie rather than involve a third party.

Aston Martin is suing a Swiss car dealer that it says withheld customer payments for its $3 million Valkyrie sports car, the luxury carmaker said on Tuesday. The London-listed company has also ended its commercial agreement with the dealer, Nebula Project AG, saying it would now take customer deposits directly for special vehicles, such as the Valkyrie rather than involve a third party. Aston Martin is also ending agreements with AF Cars AG, which runs the British carmaker's St Gallen dealership in Switzerland and is led by Nebula board members, saying that some cars were sold in breach of dealership agreements. Nebula and one of its board members, Andreas Baenziger, did not respond immediately to emailed requests for comment. Florian Kamelger, another board member, said in an email that Nebula would release a statement later on Tuesday. "Both Aston Martin and its customers have been impacted by Nebula Project AG and its board members' behaviour," Aston Martin said in a statement. A source close to Aston Martin said the case will be filed in a Swiss court on Tuesday, though neither the source nor the company disclosed the size of damages being sought. Aston Martin's statement said it could face a 15 million pound ($21 million) hit to its 2021 results because of the alleged withheld payments but added that it was on course to meet financial expectations for the year. Shares in the FTSE 250 company were down 1.9% at 1897.5 pence by 0747 GMT. The Valkyrie is a limited-edition supercar that utilises Formula One technology and sells for about $3 million, though the company hasn't listed an official price. First deliveries are on track for the second half of this year, the company said. Aston Martin said it would work to ensure affected customers receive their Valkyrie cars as scheduled despite the company not having received all of their money.

Aston Martin sues Swiss dealer over Valkyrie sports car payments

Indian stock markets began the day at or near all-time highs, but witnessed turbulence during the dying hours of trade.&nbsp;

BSE Sensex hit a fresh record high of 53,057 level in early deals but pared gains to end at 52,589 levels, up 14 points or 0.03 per cent. On the NSE, the Nifty50 index ended at 15,773 levels, up 26 points or 0.17 per cent.

In the broader market, small-cap stocks dazzled on the bourses and ended 0.83 cent higher on the BSE while the BSE MidCap index closed 0.33 per cent up.

Global markets

European shares gave up early gains on Tuesday, with growth-linked technology and healthcare stocks leading declines, as signs of rising inflation fanned fears of a sooner-than-expected tightening in global monetary policies. The pan-European STOXX 600 was down 0.1 per cent.&nbsp;

Meanwhile, Futures of all three main Wall Street indices indicated at a flat-to-negative start later today.

Earlier in Asia, Japan's Nikkei zoomed over 3 per cent, South Korea's Kospi added 0.7 per cent, and China's Shanghai Composite rallied 0.8 per cent.&nbsp;

(With inputs from Reuters)

Indian stock markets began the day at or near all-time highs, but witnessed turbulence during the dying hours of trade. BSE Sensex hit a fresh record high of 53,057 level in early deals but pared gains to end at 52,589 levels, up 14 points or 0.

Indian stock markets began the day at or near all-time highs, but witnessed turbulence during the dying hours of trade. BSE Sensex hit a fresh record high of 53,057 level in early deals but pared gains to end at 52,589 levels, up 14 points or 0.03 per cent. On the NSE, the Nifty50 index ended at 15,773 levels, up 26 points or 0.17 per cent. In the broader market, small-cap stocks dazzled on the bourses and ended 0.83 cent higher on the BSE while the BSE MidCap index closed 0.33 per cent up. Global markets European shares gave up early gains on Tuesday, with growth-linked technology and healthcare stocks leading declines, as signs of rising inflation fanned fears of a sooner-than-expected tightening in global monetary policies. The pan-European STOXX 600 was down 0.1 per cent. Meanwhile, Futures of all three main Wall Street indices indicated at a flat-to-negative start later today. Earlier in Asia, Japan's Nikkei zoomed over 3 per cent, South Korea's Kospi added 0.7 per cent, and China's Shanghai Composite rallied 0.8 per cent. (With inputs from Reuters)

Sensex ends flat with positive bias, Nifty closes at 15,772.75

Bitcoin regained some ground on Tuesday, a day after touching a two-week low after China's central bank reaffirmed a crackdown on cryptocurrencies and restricted trading channels for Chinese residents. 
 
The world's largest crypto currency was last up 4.58% at $33,000, having dropped more than 10% on Monday. Ether, the second-biggest crypto currency, was up 5.05% at $1,983 after hitting a five-week low the day before. 
 
Monday's sell-off was sparked by an announcement from the Peoples Bank of China saying it had summoned China's largest banks and payment firms urging them to crack down harder on cryptocurrency trading. 
 
"It basically says now OTC transactions are not legitimate... we are not allowed by the banks to transfer money for cryptocurrency purchases and sales," said Bobby Lee, founder and CEO of Ballet, a cryptocurrency wallet app, and formerly CEO of BTC China, China's first bitcoin exchange. 
 
Crypto exchanges were effectively pushed out of China by a 2017 rule change, but over the counter (OTC) platforms based-overseas sprung up to act as middlemen, receiving payment from people based in China and buying cryptocurrencies on their behalf. 
 
"Essentially this puts all the OTC platforms out of business," Lee said. 
 
However, Tuesday's price moves suggested Asian traders thought markets overnight had overreacted to the news. 
 
"A Chinese ban on cryptocurrencies isn't something new. The one that came out yesterday was almost a copy of a previous announcement, earlier this year," said Justin d'Anethan, head of exchange sales at crypto exchange operator EQONEX. 
 
"As always, leverage, large participants and fundamental events mean crypto can move dramatically," he said. Last month, three industry associations issued a ban on crypto-related financial services, but these bodies have much less clout than the PBOC.&nbsp;

Market participants said at the time that the earlier ban would be hard to enforce as banks and payment firms would struggle to identify crypto-related payments. However, following Monday's PBOC statement, banks including Agricultural Bank of China and Alipay, the ubiquitous payment platform owned by fintech giant Ant Group, said they would step up monitoring to root out crypto transactions. 
 
China's crackdown has also had a dramatic effect on bitcoin mining. The hashrate, which measures the processing power of the bitcoin network and shows how much mining is taking place, on Monday hit its lowest level since late 2020. 
 
Cryptomining is a big business in China, which accounts for over half of global bitcoin production. However, since the State Council's statement, bans on cryptomining have been issued in major bitcoin mining hubs, including Sichuan, Xinjiang, and Inner Mongolia.

Bitcoin regained some ground on Tuesday, a day after touching a two-week low after China's central bank reaffirmed a crackdown on cryptocurrencies and restricted trading channels for Chinese residents.

Bitcoin regained some ground on Tuesday, a day after touching a two-week low after China's central bank reaffirmed a crackdown on cryptocurrencies and restricted trading channels for Chinese residents. The world's largest crypto currency was last up 4.58% at $33,000, having dropped more than 10% on Monday. Ether, the second-biggest crypto currency, was up 5.05% at $1,983 after hitting a five-week low the day before. Monday's sell-off was sparked by an announcement from the Peoples Bank of China saying it had summoned China's largest banks and payment firms urging them to crack down harder on cryptocurrency trading. "It basically says now OTC transactions are not legitimate... we are not allowed by the banks to transfer money for cryptocurrency purchases and sales," said Bobby Lee, founder and CEO of Ballet, a cryptocurrency wallet app, and formerly CEO of BTC China, China's first bitcoin exchange. Crypto exchanges were effectively pushed out of China by a 2017 rule change, but over the counter (OTC) platforms based-overseas sprung up to act as middlemen, receiving payment from people based in China and buying cryptocurrencies on their behalf. "Essentially this puts all the OTC platforms out of business," Lee said. However, Tuesday's price moves suggested Asian traders thought markets overnight had overreacted to the news. "A Chinese ban on cryptocurrencies isn't something new. The one that came out yesterday was almost a copy of a previous announcement, earlier this year," said Justin d'Anethan, head of exchange sales at crypto exchange operator EQONEX. "As always, leverage, large participants and fundamental events mean crypto can move dramatically," he said. Last month, three industry associations issued a ban on crypto-related financial services, but these bodies have much less clout than the PBOC. Market participants said at the time that the earlier ban would be hard to enforce as banks and payment firms would struggle to identify crypto-related payments. However, following Monday's PBOC statement, banks including Agricultural Bank of China and Alipay, the ubiquitous payment platform owned by fintech giant Ant Group, said they would step up monitoring to root out crypto transactions. China's crackdown has also had a dramatic effect on bitcoin mining. The hashrate, which measures the processing power of the bitcoin network and shows how much mining is taking place, on Monday hit its lowest level since late 2020. Cryptomining is a big business in China, which accounts for over half of global bitcoin production. However, since the State Council's statement, bans on cryptomining have been issued in major bitcoin mining hubs, including Sichuan, Xinjiang, and Inner Mongolia.

Bitcoin recoups some losses in Asia after plunging on Chinese crackdown

Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear programme and has been moving oil into place to prepare for an eventual restart, Reuters news agency reported citing traders and industrial sources. 
 
The US&nbsp;and Iran began in mid-June their sixth round of indirect talks on reviving a 2015 nuclear deal that former US&nbsp;President Donald Trump pulled out of in 2018. Trump reimposed sanctions on Iran’s energy sector, leading refiners in many countries to shun Iranian crude and forcing Tehran to pump well below capacity. 
 
Iran sits on the world’s fourth-largest oil reserves and relies heavily on oil revenues. If and when the administration of US&nbsp;President Joe Biden and the Iranian government agree a deal that results in the lifting of sanctions, Iran plans to increase output to 3.8 million barrels per day (bpd) from the current 2.1 million bpd, according to oil ministry officials. 
 
That would return the country’s production level to where it was before the sanctions, but would take time because of years of low investment in mature oilfields and heavily reduced output. 
 
As a stopgap measure while it works on boosting production, the National Iranian Oil Company (NIOC) is expected to export from onshore and offshore storage that contains as much as 200 million barrel, according to energy consultancy and monitoring firms. &nbsp; 
 
This could allow the country to export an extra 1 million bpd, or 1% of global supply, for more than six months. 
 
"Iran will be using its nearly 60 million barrels of crude inventory, of which 30-35 million barrels are built during the past two years, within a few months of sanctions removal," said Iman Nasseri, managing director for the Middle East with FGE consultancy. 
 
An increase of 1 million bpd of Iranian crude would put downward pressure on benchmark global oil prices, but investment bank Goldman Sachs said last month that the global oil market should be able to absorb the additional supply relatively quickly. 
 
Fuel demand is rising as global economic activity recovers from the impact of the COVID-19 &nbsp;pandemic, and OPEC producers and their allies have been cautious about increasing supply to the market in part to avoid a shock should Iranian supply return.

"From a macro perspective, a return of Iranian barrels to the market should not derail OPEC+ intentions to gradually increase production as long as demand in Europe and the United States continues to recover," said Florian Thaler, the CEO and co-founder of consultancy OilX. 
 
Iran has boosted the volume of crude it has stored on oil tankers in recent months, according to data intelligence firm Kpler, in what may be a preparation for a restart to exports. Some of those tankers are already in Asia, historically the biggest market for Iran’s oil. 
 
"We currently estimate around 78 million barrels of oil and condensate are stored on water and this compares against only 41 million barrels at the same time last year," said Homayoun Falakshahi, a senior analyst at Kpler. 
 
"A lot of tankers are already parked close to East Asian markets, so it could be a question of days," he added.

(With inputs from agencies)

Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear programme and has been moving oil into place to prepare for an eventual restart, Reuters news agency reported citing traders and industrial sources.

Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear programme and has been moving oil into place to prepare for an eventual restart, Reuters news agency reported citing traders and industrial sources. The US and Iran began in mid-June their sixth round of indirect talks on reviving a 2015 nuclear deal that former US President Donald Trump pulled out of in 2018. Trump reimposed sanctions on Iran’s energy sector, leading refiners in many countries to shun Iranian crude and forcing Tehran to pump well below capacity. Iran sits on the world’s fourth-largest oil reserves and relies heavily on oil revenues. If and when the administration of US President Joe Biden and the Iranian government agree a deal that results in the lifting of sanctions, Iran plans to increase output to 3.8 million barrels per day (bpd) from the current 2.1 million bpd, according to oil ministry officials. That would return the country’s production level to where it was before the sanctions, but would take time because of years of low investment in mature oilfields and heavily reduced output. As a stopgap measure while it works on boosting production, the National Iranian Oil Company (NIOC) is expected to export from onshore and offshore storage that contains as much as 200 million barrel, according to energy consultancy and monitoring firms. This could allow the country to export an extra 1 million bpd, or 1% of global supply, for more than six months. "Iran will be using its nearly 60 million barrels of crude inventory, of which 30-35 million barrels are built during the past two years, within a few months of sanctions removal," said Iman Nasseri, managing director for the Middle East with FGE consultancy. An increase of 1 million bpd of Iranian crude would put downward pressure on benchmark global oil prices, but investment bank Goldman Sachs said last month that the global oil market should be able to absorb the additional supply relatively quickly. Fuel demand is rising as global economic activity recovers from the impact of the COVID-19 pandemic, and OPEC producers and their allies have been cautious about increasing supply to the market in part to avoid a shock should Iranian supply return. "From a macro perspective, a return of Iranian barrels to the market should not derail OPEC+ intentions to gradually increase production as long as demand in Europe and the United States continues to recover," said Florian Thaler, the CEO and co-founder of consultancy OilX. Iran has boosted the volume of crude it has stored on oil tankers in recent months, according to data intelligence firm Kpler, in what may be a preparation for a restart to exports. Some of those tankers are already in Asia, historically the biggest market for Iran’s oil. "We currently estimate around 78 million barrels of oil and condensate are stored on water and this compares against only 41 million barrels at the same time last year," said Homayoun Falakshahi, a senior analyst at Kpler. "A lot of tankers are already parked close to East Asian markets, so it could be a question of days," he added. (With inputs from agencies)

Iran stores more oil on tankers as it counts days to enter markets

The Australian government has rejected plans for a $36 billion wind, solar and hydrogen project in a remote area of Western Australia, leaving what would have been one of the world's largest green energy projects in limbo for now. 
 
In a decision dated June 15, published on the environment department's website, Environment Minister Sussan Ley ruled that the project, the Asian Renewable Energy Hub (AREH), 'will have clearly unacceptable impacts' on internationally recognised wetlands and migratory bird species. 
 
The AREH project, located in the state's Pilbara region, was designed to initially build 15 gigawatts (GW) of renewable energy capacity, eventually to be expanded to 26 GW and produce green hydrogen and ammonia for export. 
 
The government had awarded the project fast-track approval status last September, touting the jobs, clean energy for local industry and large-scale export opportunity that it would bring. AREH is being developed by privately owned InterContinental Energy, renewables developer CWP Energy Asia, top global wind turbine maker Vestas and a Macquarie Group fund. 
 
The environment minister cited the expansion plan in the rejection decision. The project's original plan won environmental approval last December. 
 
The proposed enlargement came with a port facility for ammonia; a town that would be home to 8,000 people including project workers; expanded solar arrays; ammonia, hydrogen and desalination plants and storage facilities; and a pipeline route for transporting ammonia, seawater and brine through wetlands. 
 
"We are now working to understand the minister's concerns, and will engage further with the minister and her department as we continue to work on the detailed design and engineering aspects of the project," the AREH consortium said in a statement. The project, on the drawing board since 2014, originally planned to generate wind and solar power and transmit it via an undersea cable to Asia, but last year changed plans, aiming to use clean power to split water to produce hydrogen and ammonia for export. 
 
Australia's Clean Energy Council on Monday said it expects the government will work with AREH to assess and address any environmental impacts. "If the government is to be taken seriously on developing a hydrogen economy, companies prioritising genuinely zero emissions projects should be assisted to reach a final investment decision," said Dan Gocher, climate and environment director at the Australasian Centre for Corporate Responsibility. 
 
(With inputs from agencies)

The Australian government has rejected plans for a $36 billion wind, solar and hydrogen project in a remote area of Western Australia, leaving what would have been one of the world's largest green energy projects in limbo for now.

The Australian government has rejected plans for a $36 billion wind, solar and hydrogen project in a remote area of Western Australia, leaving what would have been one of the world's largest green energy projects in limbo for now. In a decision dated June 15, published on the environment department's website, Environment Minister Sussan Ley ruled that the project, the Asian Renewable Energy Hub (AREH), 'will have clearly unacceptable impacts' on internationally recognised wetlands and migratory bird species. The AREH project, located in the state's Pilbara region, was designed to initially build 15 gigawatts (GW) of renewable energy capacity, eventually to be expanded to 26 GW and produce green hydrogen and ammonia for export. The government had awarded the project fast-track approval status last September, touting the jobs, clean energy for local industry and large-scale export opportunity that it would bring. AREH is being developed by privately owned InterContinental Energy, renewables developer CWP Energy Asia, top global wind turbine maker Vestas and a Macquarie Group fund. The environment minister cited the expansion plan in the rejection decision. The project's original plan won environmental approval last December. The proposed enlargement came with a port facility for ammonia; a town that would be home to 8,000 people including project workers; expanded solar arrays; ammonia, hydrogen and desalination plants and storage facilities; and a pipeline route for transporting ammonia, seawater and brine through wetlands. "We are now working to understand the minister's concerns, and will engage further with the minister and her department as we continue to work on the detailed design and engineering aspects of the project," the AREH consortium said in a statement. The project, on the drawing board since 2014, originally planned to generate wind and solar power and transmit it via an undersea cable to Asia, but last year changed plans, aiming to use clean power to split water to produce hydrogen and ammonia for export. Australia's Clean Energy Council on Monday said it expects the government will work with AREH to assess and address any environmental impacts. "If the government is to be taken seriously on developing a hydrogen economy, companies prioritising genuinely zero emissions projects should be assisted to reach a final investment decision," said Dan Gocher, climate and environment director at the Australasian Centre for Corporate Responsibility. (With inputs from agencies)

Australia rejects $36 billion wind, solar, hydrogen project

Indian equity markets rebounded from the lows to close Monday’s trading session in green.&nbsp;

S&amp;P BSE Sensex gained 230 points during the day to end at 52,574 while the 50-stock NSE Nifty index jumped 63 points and closed at 15,746.&nbsp;

NTPC, Titan Company, and State Bank of India closed as the top index performers while Tech Mahindra, Maruti, and TCS were the worst performers. Broader markets outperformed benchmark indices. India VIX ended flat.

Broader markets, meanwhile, outperformed the large-caps today with the BSE MidCap and SmallCap indices gaining 0.8 per cent each. 
&nbsp;

Indian equity markets rebounded from the lows to close Monday’s trading session in green. S&P BSE Sensex gained 230 points during the day to end at 52,574 while the 50-stock NSE Nifty index jumped 63 points and closed at 15,746.

Indian equity markets rebounded from the lows to close Monday’s trading session in green. S&P BSE Sensex gained 230 points during the day to end at 52,574 while the 50-stock NSE Nifty index jumped 63 points and closed at 15,746. NTPC, Titan Company, and State Bank of India closed as the top index performers while Tech Mahindra, Maruti, and TCS were the worst performers. Broader markets outperformed benchmark indices. India VIX ended flat. Broader markets, meanwhile, outperformed the large-caps today with the BSE MidCap and SmallCap indices gaining 0.8 per cent each.

Sensex ends with gains at 52,574, Nifty above 15,700

Africa's largest Economy Nigeria is planning to launch its digital currency by the end of this year. Nigeria’s Central Bank is preparing a digital currency pilot that could launch as early as the end of this year, its director of information technology said in a recording heard by Reuters on Friday.

Nigeria to launch pilot digital currency by year-end

Brent crude futures for August gained 30 cents, or 0.4%, to $73.81 a barrel by 0051 GMT, while US West Texas Intermediate (WTI) crude for July was at $71.96 a barrel, up 32 cents, or 0.5%.

Brent crude futures up 0.4% at $73.81 a barrel

Porsche said it will invest a high double-digit million euro sum in the joint venture in which it will hold 80%.

Porsche to set up joint venture with German battery maker

India's&nbsp;stock market staged a smart recovery to end flat on Friday after declining over a per cent in intra-day deals. Most indices trimmed some intraday losses adding to the recovery.

The Sensex ended 21 points higher at 52,344 while the Nifty fell 8 points to settle at 15,683.

Sensex fell 722 points intra-day but recovered to close 21 points or 0.04 per cent, higher at 52,344 levels. The broader Nifty50 index, meanwhile, bounced back from the day's low of 15,451 to end at 15,683 levels, down 8 points or 0.05 per cent.

Global markets

Stocks were stranded just below record highs on Friday, with investors left looking for direction after digesting the US Federal Reserve’s more hawkish stance.

(With inputs from Reuters)

India's stock market staged a smart recovery to end flat on Friday after declining over a per cent in intra-day deals. Most indices trimmed some intraday losses adding to the recovery.

India's stock market staged a smart recovery to end flat on Friday after declining over a per cent in intra-day deals. Most indices trimmed some intraday losses adding to the recovery. The Sensex ended 21 points higher at 52,344 while the Nifty fell 8 points to settle at 15,683. Sensex fell 722 points intra-day but recovered to close 21 points or 0.04 per cent, higher at 52,344 levels. The broader Nifty50 index, meanwhile, bounced back from the day's low of 15,451 to end at 15,683 levels, down 8 points or 0.05 per cent. Global markets Stocks were stranded just below record highs on Friday, with investors left looking for direction after digesting the US Federal Reserve’s more hawkish stance. (With inputs from Reuters)

Sensex ends flat at 52,344, Nifty below 15,700

On Wednesday, Brent settled at its highest price since April 2019 while WTI settled at its highest since October 2018.

Oil slips again on surging US dollar

Last week, the Senate approved $52 billion for production and research on semiconductors and telecommunications equipment.

US senators propose 25% tax credit for semiconductor manufacturing

The Central Bank of the UAE (CBUAE) said on Thursday that the country's economy will grow by 2.4 per cent this year and by 3.8 per cent in 2022.

UAE projects 2.4% economic growth in 2021

Saudi Aramco on Thursday said it raised $6 billion from its first dollar-denominated Islamic bond sale, as the energy giant seeks capital to fund its hefty dividend payments.

The three-tranche sukuk, or Islamic bonds compliant with the Muslim faith, are due in three, five and 10 years, the company said in a statement.

Aramco "successfully raised $6 billion, following the sale of US dollar-denominated sharia-compliant securities to leading institutional investors", the statement said.

The sale comes after two previous bond offerings that were not compliant with Islamic law,&nbsp;a debut $12 billion sale in 2019 and an $8 billion offering in November last year.

The company is raising money to help pay an annual dividend of $75 billion, a key revenue source for the Saudi government, Aramco's biggest shareholder.

Aramco, the kingdom's cash cow, pledged to pay the dividend when it sought to generate interest in its debut initial public offering on the Saudi bourse in December 2019.

But company finances came under pressure last year, when crude prices tanked as the coronavirus pandemic sapped global demand.

Last month, Aramco declared a 30 percent jump in first quarter profit, thanks to a recovery in oil prices, but the company's free cash flow fell short of the $18.75 billion dividend obligation for that period.

Aramco is pushing to raise cash as Riyadh faces a ballooning budget deficit and pursues multi-billion dollar projects to diversify its oil-reliant economy.

In April, Aramco said it had struck a $12.4-billion deal to sell a minority stake&nbsp;in a newly formed oil pipeline business to a consortium led by US-based EIG Global Energy Partners.

Saudi Aramco on Thursday said it raised $6 billion from its first dollar-denominated Islamic bond sale, as the energy giant seeks capital to fund its hefty dividend payments.

Saudi Aramco on Thursday said it raised $6 billion from its first dollar-denominated Islamic bond sale, as the energy giant seeks capital to fund its hefty dividend payments. The three-tranche sukuk, or Islamic bonds compliant with the Muslim faith, are due in three, five and 10 years, the company said in a statement. Aramco "successfully raised $6 billion, following the sale of US dollar-denominated sharia-compliant securities to leading institutional investors", the statement said. The sale comes after two previous bond offerings that were not compliant with Islamic law, a debut $12 billion sale in 2019 and an $8 billion offering in November last year. The company is raising money to help pay an annual dividend of $75 billion, a key revenue source for the Saudi government, Aramco's biggest shareholder. Aramco, the kingdom's cash cow, pledged to pay the dividend when it sought to generate interest in its debut initial public offering on the Saudi bourse in December 2019. But company finances came under pressure last year, when crude prices tanked as the coronavirus pandemic sapped global demand. Last month, Aramco declared a 30 percent jump in first quarter profit, thanks to a recovery in oil prices, but the company's free cash flow fell short of the $18.75 billion dividend obligation for that period. Aramco is pushing to raise cash as Riyadh faces a ballooning budget deficit and pursues multi-billion dollar projects to diversify its oil-reliant economy. In April, Aramco said it had struck a $12.4-billion deal to sell a minority stake in a newly formed oil pipeline business to a consortium led by US-based EIG Global Energy Partners.

Saudi Aramco raises $6 billion from its first dollar-denominated Islamic bond sale

Indian stock market indices BSE Sensex and Nifty 50 ended over half a per cent down on Thursday, a day of weekly options expiry.&nbsp;

BSE Sensex fell 179 points or 0.34 per cent to 52,323.33, while the broader Nifty 50 index lost 76 points or 0.48 per cent to settle at 15,691.&nbsp;

The NSE's Nifty 50 index breached below its immediate support of 15,650 and hit a low of 15,616. It recovered marginally to end at 15,691 levels, down 76 points or 0.48 per cent.

Global markets

Global stock markets were mostly lower Thursday after the Federal Reserve indicated it might ease off economic stimulus earlier than previously thought.

In Asia, the Nikkei 225 in Tokyo lost 0.9 per cent, South Korea's Kospi and Australia's S&amp;P-ASX 200 shed 0.4 per cent each. China's Shanghai Composite Index, on the contrary, rose 0.2 per cent while Hong Kong's Hang Seng added 0.4 per cent.

(With inputs from agencies)

Indian stock market indices BSE Sensex and Nifty 50 ended over half a per cent down on Thursday, a day of weekly options expiry. BSE Sensex fell 179 points or 0.

Indian stock market indices BSE Sensex and Nifty 50 ended over half a per cent down on Thursday, a day of weekly options expiry. BSE Sensex fell 179 points or 0.34 per cent to 52,323.33, while the broader Nifty 50 index lost 76 points or 0.48 per cent to settle at 15,691. The NSE's Nifty 50 index breached below its immediate support of 15,650 and hit a low of 15,616. It recovered marginally to end at 15,691 levels, down 76 points or 0.48 per cent. Global markets Global stock markets were mostly lower Thursday after the Federal Reserve indicated it might ease off economic stimulus earlier than previously thought. In Asia, the Nikkei 225 in Tokyo lost 0.9 per cent, South Korea's Kospi and Australia's S&P-ASX 200 shed 0.4 per cent each. China's Shanghai Composite Index, on the contrary, rose 0.2 per cent while Hong Kong's Hang Seng added 0.4 per cent. (With inputs from agencies)

Sensex slips 179 points, Nifty below 15,700

Meanwhile, US oil inventories declined by 8.5 million barrels in the week ending June 11, according to American Petroleum Institute.

Brent crude continues climb, trades at $72.15 a barrel

On Wednesday, Salvadoran Finance Minister Alejandro Zelaya said his country had approached the bank for technical assistance in order to implement bitcoin alongside the U.S. dollar

World Bank denies El Salvador’s request for implementation of Bitcoin

The Federal Reserve raised its inflation expectations and moved up the timeframe on when it will next hike interest rates.

US Fed leaves key interest rates unchanged

The ECB said a digital euro could increase the euro's appeal, though the health and size of the euro zone's economy were more important.

Digital euro could boost single currency's international use

Exports of both cars and auto parts more than doubled, up 135.5% and 139.1% from a year earlier, respectively.

Japan's May exports log sharpest rise in 41 years

Indian stock market indices, Sensex and Nifty ended lower on Wednesday dragged by metals and banking stocks amid mixed global cues.&nbsp;

Broader markets, smallcap and midcap indices also declined. Barring Nifty FMCG and Nifty IT, all other sectoral indices witnessed selling pressure.

BSE Sensex fell 271 points or 0.51 per cent to 52,502, while the broader Nifty 50 index declined 102 points or 0.64 per cent to settle at 15,767. The top BSE Sensex laggards were Power Grid Corporation of India, IndusInd Bank, Reliance Industries Ltd (RIL), L&amp;T, and UltraTech Cement, among others.

Global market

Asian shares were subdued on Wednesday with investors wary of any hint of hawkishness from the US Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money.

Japan's Nikkei ended 0.5 per cent lower and China's Shanghai Index dipped 1 per cent. South Korea's Kospi and Australia's ASX200, on the other hand, gained 0.6 per cent and 0.01 per cent, respectively.&nbsp;

In Europe, gains in financial and industrial stocks lifted indices, with the pan-European STOXX 600 up 0.2 per cent.

(With inputs from Reuters)

Indian stock market indices, Sensex and Nifty ended lower on Wednesday dragged by metals and banking stocks amid mixed global cues. Broader markets, smallcap and midcap indices also declined.

Indian stock market indices, Sensex and Nifty ended lower on Wednesday dragged by metals and banking stocks amid mixed global cues. Broader markets, smallcap and midcap indices also declined. Barring Nifty FMCG and Nifty IT, all other sectoral indices witnessed selling pressure. BSE Sensex fell 271 points or 0.51 per cent to 52,502, while the broader Nifty 50 index declined 102 points or 0.64 per cent to settle at 15,767. The top BSE Sensex laggards were Power Grid Corporation of India, IndusInd Bank, Reliance Industries Ltd (RIL), L&T, and UltraTech Cement, among others. Global market Asian shares were subdued on Wednesday with investors wary of any hint of hawkishness from the US Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money. Japan's Nikkei ended 0.5 per cent lower and China's Shanghai Index dipped 1 per cent. South Korea's Kospi and Australia's ASX200, on the other hand, gained 0.6 per cent and 0.01 per cent, respectively. In Europe, gains in financial and industrial stocks lifted indices, with the pan-European STOXX 600 up 0.2 per cent. (With inputs from Reuters)

Sensex falls 271 points, Nifty ends below 15,800

Indian stock market benchmarks BSE Sensex and Nifty 50 were trading at record high levels on Monday amid mixed Asian cues.&nbsp;

BSE Sensex hit a record high of 52,835.51, while Nifty 50 scaled a fresh all-time high of 15,889.60.

At close, the Sensex was up 221.52 points or 0.42% at 52773.05, and the Nifty was up 57.40 points or 0.36% at 15869.30. About 1894 shares have advanced, 1256 shares declined, and 139 shares are unchanged.

Meanwhile, the Indian rupee erased early gains and ended lower at 73.31 per dollar, amid buying saw in the domestic equity market. It opened marginally higher at 73.19 per dollar against the previous close of 73.27 and traded in the range of 72.16-73.34.

Indian stock market benchmarks BSE Sensex and Nifty 50 were trading at record high levels on Monday amid mixed Asian cues. BSE Sensex hit a record high of 52,835.

Indian stock market benchmarks BSE Sensex and Nifty 50 were trading at record high levels on Monday amid mixed Asian cues. BSE Sensex hit a record high of 52,835.51, while Nifty 50 scaled a fresh all-time high of 15,889.60. At close, the Sensex was up 221.52 points or 0.42% at 52773.05, and the Nifty was up 57.40 points or 0.36% at 15869.30. About 1894 shares have advanced, 1256 shares declined, and 139 shares are unchanged. Meanwhile, the Indian rupee erased early gains and ended lower at 73.31 per dollar, amid buying saw in the domestic equity market. It opened marginally higher at 73.19 per dollar against the previous close of 73.27 and traded in the range of 72.16-73.34.

Indian stock markets end at record closing high