What is the real meaning behind Pete Hegseth's tattoos?

Viral video shows cross falling on Colombia priest, no official confirmation | WATCH

'My name has always been Ilhan Omar': Congresswoman hits back at Trump, calls him a 'creep'

Pezeshkian says Iranians ‘struggling to put food on the table’ as war with US drags on

Chorbagan stampede: A week later, the strangest visarjan Kolkata has seen

AI slop or smart strategy? South African author Coral Hart defends Her 370 AI- assisted books in 20 months

Could you survive 3 days without power? UK tells households to prepare now

AI just found a flaw in software running most of the web! One request hijacks the server

Can Putin cheat death? All about his daughter’s billion-dollar quest for immortality

Saudi says debris fell in Mecca, Medina after missile interceptions; Houthis deny targeting holy cities

France protests: Clashes erupt between police and protesters in Paris as nearly 410,000 take to streets across country

Trump invokes Operation Sindoor at US midterm rally, claims 250% tariffs stopped India-Pakistan war

Tu Hai Meri Kiran box office: Sonakshi Sinha and Zaheer Iqbal's film fails to take off, mints Rs 15 Lakh on day 1

Pakistan airline PIA unveils new crew uniforms, faces online criticism

Britain is building the world's first AI biosecurity lab, with OpenAI and Anthropic inside

Scientists make digital nose that can sniff and send scents over the internet

Frontier AIs keep escaping their test cages! The industry still can't reliably stop them

'Already tired of his 9-to-5': Baby born with a moustache becomes internet sensation, video goes viral | Watch

Horrific video shows the moment 18-year-old fell to her death from Mexico amusement park ride

'Black triangle' UFO flying at 1,800mph spotted over sensitive US site: Latest Trump admin UFO file dump

France protests: 135 arrested, weapons seized as fresh demonstrations erupt amid heavy security

French Open: PV Sindhu storms into final with win over Hina Akechi

Albania protests enter 12th day as students clash with police, demand Rama's exit

China's dancing robot turns violent bodyguard, lifts cars and fights intruders - Watch

'You’re a horrible little reporter, aren’t you?': Trump snaps at NBC reporter questioning his support for Ramaswamy's campaign ad

Rising Asia Cup 2026 schedule announced, India-Pakistan clash set for Nov 22

US Midterms 2026: Dead for years, paedophile Jeffrey Epstein finds mention in over 500 campaign ads; Texas alone spent $10 million

Bodies of 2 missing Japanese climbers recovered from Himalayan peak

New Friday OTT releases (October 23, 2026): Gajab Raat, Dorothy, Chaar Yaar- Watch these 6 new movies and TV shows on Netflix, Prime Video and more

US midterm elections 2026: Minnesota heads to polls in the shadow of Minneapolis ICE shootings

An AI that reads your face can now estimate how long you have to live

Hitler’s ‘Eagle’s Nest’ mountain retreat wrecked by fire, suspect detained: What to know about the Nazi-era site

Tu Hai Meri Kiran film review: Sonakshi Sinha and Zaheer Iqbal's thriller gets tangled in its own twists

Why Europe’s protests are about more than austerity and rising costs

Watched Manoj Bajpayee’s Gajab Raat on Netflix? 5 movies and TV shows to watch next on OTT

Farooq Abdullah says Pakistan’s raising of Kashmir issue keeps pressure on Delhi

Japan’s new premier Yoshihide Suga on Wednesday pledged to contain COVID-19 and retain his former boss’s “Abenomics” growth policies.

Japan consumer prices down at fastest pace in 4 years

Google Playstore has removed the payments app 'Paytm' for alleged "unregulated gambling”. Paytm said its users' money is "completely safe". Watch report.

Google removes Paytm app from Playstore due to guidelines violation

Britain’s unemployment rate rose for the first time since the coronavirus lockdown began in March, prompting fresh calls for finance minister Rishi Sunak to extend a job subsidy programme which is due to expire next month.

Dramatic increase in UK's unemployment could worsen

The resurgence in coronavirus cases is the biggest threat to the recovering eurozone economy. Growth and inflation are more likely to create negative surprises over the coming year than positive ones.

Resurging cases of COVID-19 pose big challenge to Euro Zone economy

Volkswagen is in talks to sell its high-end Bugatti brand to electric supercar maker Rimac, a new report says.

VW said to be in talks to sell Bugatti to Rimac

The Federal funds rate remained unchanged at zero to a quarter percentage point, and will stay there until America's labor market has recovered

Fed vows to keep interest rates near zero

The report on the 18-month investigation, published Wednesday by the House Transportation Committee

US House report blames Boeing, FAA for 737 Max failures

New Zealand plunged into recession for the first time in a decade Thursday, as data confirmed a record-breaking economic collapse that forced Prime Minister Jacinda Ardern to defend her pandemic response ahead of next month's general election.

The 12.2 per cent contraction in April-June was "by far the largest" since records began, national data agency Stats NZ said, with the country put into a strict lockdown for almost two months and the country's borders closed.

Also read |&nbsp;<a href="https://www.wionews.com/world/new-zealand-scores-f-for-failure-as-unicef-report-on-obesity-youth-suicide-reveal-dismal-results-325176">New Zealand scores 'F for failure' as Unicef report on obesity, youth suicide reveal dismal results</a>

Ardern rejected opposition accusations that the tough measures had pushed the economy "off a cliff", saying the restrictions helped contain the virus, which allowed business to resume far earlier than in many other countries.

The centre-left leader, who will go to the polls re-election on October 17, also pointed out that New Zealand had recorded just 25 Covid-19 deaths, out of a population of five million.

"Success for me is saving people's lives, supporting and saving people's businesses, coming out the other side (of the crisis) faster, quicker and with more activity," she told reporters.

"I back our results."

She said the economic pain of lockdown in the June quarter would be followed by a rebound in July-September, when virus-related restrictions were eased significantly.

Ardern retains a strong lead in opinion polls and is expected to retain office, despite the ugly pre-election economic figures.

Finance Minister Grant Robertson said it could have been much worse, with budget papers in May predicting a 23.5 quarterly decline and Treasury forecasting a 16 per cent drop just this week.

"There is no way that any political party could claim that there would not have been a recession in New Zealand during this period," he said.

"This is a one-in-100-year global economic shock."

'This was traumatic'&nbsp;

The opposition National Party said the figures showed a change of government was needed because Ardern's administration could not properly manage the economy or the pandemic response.&nbsp;

"It is now official that we are in the deepest recession in living memory and it's proof that New Zealand needs a National-led government now that has a very clear plan," National leader Judith Collins said.

She said New Zealand "compares very unfavourably" with neighbouring Australia, which recorded an economic contraction of seven percent in the June quarter after adopting a more flexible approach to lockdowns and border controls.

New Zealand's most recent recession was in 2008-09 and until the first three months of this year it had recorded non-stop quarterly growth since 2010.

The second-quarter decline follows a 1.6 per cent contraction in the first three months of 2020, confirming widespread expectations that New Zealand is in recession.

Kiwibank chief economist Jarrod Kerr said the figures were unprecedented.

"We've never seen anything like this. It was traumatic," he said.

"Service exports were stonewalled, and down 40 per cent in the quarter, consumption was down 12 per cent, and investment was slashed by 20 per cent."

But he said the figure was a one-off that was set to be followed by a growth surge of 10 per cent in the September quarter, which would also be a record.

"Businesses and households have clearly adapted to trading in a world with limited face-to-face contract," he said.

New Zealand plunged into recession for the first time in a decade Thursday, as data confirmed a record-breaking economic collapse that forced Prime Minister Jacinda Ardern to defend her pandemic response ahead of next month's general election.

New Zealand plunged into recession for the first time in a decade Thursday, as data confirmed a record-breaking economic collapse that forced Prime Minister Jacinda Ardern to defend her pandemic response ahead of next month's general election. The 12.2 per cent contraction in April-June was "by far the largest" since records began, national data agency Stats NZ said, with the country put into a strict lockdown for almost two months and the country's borders closed. Also read | New Zealand scores 'F for failure' as Unicef report on obesity, youth suicide reveal dismal results Ardern rejected opposition accusations that the tough measures had pushed the economy "off a cliff", saying the restrictions helped contain the virus, which allowed business to resume far earlier than in many other countries. The centre-left leader, who will go to the polls re-election on October 17, also pointed out that New Zealand had recorded just 25 Covid-19 deaths, out of a population of five million. "Success for me is saving people's lives, supporting and saving people's businesses, coming out the other side (of the crisis) faster, quicker and with more activity," she told reporters. "I back our results." She said the economic pain of lockdown in the June quarter would be followed by a rebound in July-September, when virus-related restrictions were eased significantly. Ardern retains a strong lead in opinion polls and is expected to retain office, despite the ugly pre-election economic figures. Finance Minister Grant Robertson said it could have been much worse, with budget papers in May predicting a 23.5 quarterly decline and Treasury forecasting a 16 per cent drop just this week. "There is no way that any political party could claim that there would not have been a recession in New Zealand during this period," he said. "This is a one-in-100-year global economic shock." 'This was traumatic' The opposition National Party said the figures showed a change of government was needed because Ardern's administration could not properly manage the economy or the pandemic response. "It is now official that we are in the deepest recession in living memory and it's proof that New Zealand needs a National-led government now that has a very clear plan," National leader Judith Collins said. She said New Zealand "compares very unfavourably" with neighbouring Australia, which recorded an economic contraction of seven percent in the June quarter after adopting a more flexible approach to lockdowns and border controls. New Zealand's most recent recession was in 2008-09 and until the first three months of this year it had recorded non-stop quarterly growth since 2010. The second-quarter decline follows a 1.6 per cent contraction in the first three months of 2020, confirming widespread expectations that New Zealand is in recession. Kiwibank chief economist Jarrod Kerr said the figures were unprecedented. "We've never seen anything like this. It was traumatic," he said. "Service exports were stonewalled, and down 40 per cent in the quarter, consumption was down 12 per cent, and investment was slashed by 20 per cent." But he said the figure was a one-off that was set to be followed by a growth surge of 10 per cent in the September quarter, which would also be a record. "Businesses and households have clearly adapted to trading in a world with limited face-to-face contract," he said.

New Zealand plunges into recession as economy shrinks record 12%

Wealthy nations that have just 13 per cent of the global population have already bought half of the potential drugs that are leading the Covid-19 vaccines race, a report by Oxfam claimed.&nbsp;

The study analysed agreements signed by five leading vaccine candidates and pharmaceuticals based on data shared by the analytics organisation Airfinity.

Also read |&nbsp;<a href="https://www.wionews.com/world/us-election-2020-donald-trump-says-top-health-expert-was-confused-about-vaccine-but-not-him-328048">Trump says top health expert was 'confused' about vaccine, but not him</a>

"Access to a life-saving vaccine shouldn't depend on where you live or how much money you have," said Robert Silverman from Oxfam America, as quoted by news agency AFP.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/dcgi-gives-go-ahead-to-serum-institute-for-covid-19-vaccine-trials-in-india-327931">DCGI gives go-ahead to Serum Institute for Covid-19 vaccine trials in India</a>

"The development and approval of a safe and effective vaccine is crucial, but equally important is making sure the vaccines are available and affordable to everyone. Covid-19 anywhere is Covid-19 everywhere."

The study found that the production capacity of the vaccines developed by AstraZeneca, Gamaleya/Sputnik, Moderna, Pfizer and Sinovac is 5.9 billion doses, which it said is enough for the global population of about 3 million, considering two shots to one individual will be enough.&nbsp;

It said, developed countries and regions, including the US, the UK, European Union, Australia, Hong Kong and Macau, Japan, Switzerland and Israel have notched deals for 2.7 billion (51 per cent) &nbsp;doses out of the total 5.3 billion doses so far.

The remaining 2.6 billion doses have been signed by developing countries, which include India, Bangladesh, China, Brazil, Indonesia and Mexico.&nbsp;

 
&nbsp;

Wealthy nations that have just 13 per cent of the global population have already bought half of the potential drugs that are leading the Covid-19 vaccines race, a report by Oxfam claimed.

Wealthy nations that have just 13 per cent of the global population have already bought half of the potential drugs that are leading the Covid-19 vaccines race, a report by Oxfam claimed. The study analysed agreements signed by five leading vaccine candidates and pharmaceuticals based on data shared by the analytics organisation Airfinity. Also read | Trump says top health expert was 'confused' about vaccine, but not him "Access to a life-saving vaccine shouldn't depend on where you live or how much money you have," said Robert Silverman from Oxfam America, as quoted by news agency AFP. Also read | DCGI gives go-ahead to Serum Institute for Covid-19 vaccine trials in India "The development and approval of a safe and effective vaccine is crucial, but equally important is making sure the vaccines are available and affordable to everyone. Covid-19 anywhere is Covid-19 everywhere." The study found that the production capacity of the vaccines developed by AstraZeneca, Gamaleya/Sputnik, Moderna, Pfizer and Sinovac is 5.9 billion doses, which it said is enough for the global population of about 3 million, considering two shots to one individual will be enough. It said, developed countries and regions, including the US, the UK, European Union, Australia, Hong Kong and Macau, Japan, Switzerland and Israel have notched deals for 2.7 billion (51 per cent) doses out of the total 5.3 billion doses so far. The remaining 2.6 billion doses have been signed by developing countries, which include India, Bangladesh, China, Brazil, Indonesia and Mexico.

Rich nations with 13% population signed deals for getting over half of Covid-19 vaccines: Study

The government on Wednesday informed Parliament that introduction of 5G services in the country will depend on equipment, device ecosystem and economic considerations by telecom operators.

The government also said that state-owned BSNL and MTNL have not planned introducing 5G services yet on their networks.

Minister of State for Telecommunications Sanjay Dhotre, in a written reply to a question on the 5G rollout, said, "5G services depends on 5G equipment and device ecosystem, and economic considerations by the telecom service providers.

" In response to a question on the warning over data theft and national security, Dhotre said the US has intimated about the use of 5G clean path to protect the data and networks of US diplomatic facilities.

The 5G clean path is an end-to-end communication path that does not use any equipment from untrusted vendors.

"To address security concerns of telecom network, security conditions are incorporated in the licence conditions of telecom service providers.

The National Centre for Communication Security (NCCS), Bengaluru has also been established and has been entrusted with the task of preparation of Indian telecom security assurance requirements," Dhotre said.

Responding to a separate query with regard to 5G rollout, the minister said that 5G services have not been rolled out in the country as yet and the state-run telecom firms BSNL and MTNL have informed the government that they have not yet planned introduction of 5G services on their networks.

Globally, over 100 telecom networks have adopted 5G technology.

In India, telecom operators applied for spectrum to start 5G trials in August 2019 but the Department of Telecom (DoT) is yet to allocate radiowaves.

Dhotre said that the DoT had in March 2018 approved a multi-institute collaborative project to set up indigenous 5G test bed at a total cost of Rs 224 crore.

The collaborating institutes include IIT Madras, IIT Delhi, IIT Hyderabad, IIT Bombay, IIT Kanpur, IISc Bangalore, Society for Applied Microwave Electronics Engineering &amp; Research (SAMEER) and Centre of Excellence in Wireless Technology (CEWiT).

The project envisages setting up of an end to-end open 5G test bed in a distributed architecture model, and it will enable Indian academia and industry to validate their products, prototypes and algorithms, Dhotre said.

It will also provide facilities for experimenting and demonstrating 5G applications, he said.

Recently, Reliance Jio also announced development of indigenous 5G technology products, Dhotre said.

Reliance Jio Infocomm and Bharti Airtel submitted fresh applications for field trials in July but they are yet to get the spectrum.

The government on Wednesday informed Parliament that introduction of 5G services in the country will depend on equipment, device ecosystem and economic considerations by telecom operators.

The government on Wednesday informed Parliament that introduction of 5G services in the country will depend on equipment, device ecosystem and economic considerations by telecom operators. The government also said that state-owned BSNL and MTNL have not planned introducing 5G services yet on their networks. Minister of State for Telecommunications Sanjay Dhotre, in a written reply to a question on the 5G rollout, said, "5G services depends on 5G equipment and device ecosystem, and economic considerations by the telecom service providers. " In response to a question on the warning over data theft and national security, Dhotre said the US has intimated about the use of 5G clean path to protect the data and networks of US diplomatic facilities. The 5G clean path is an end-to-end communication path that does not use any equipment from untrusted vendors. "To address security concerns of telecom network, security conditions are incorporated in the licence conditions of telecom service providers. The National Centre for Communication Security (NCCS), Bengaluru has also been established and has been entrusted with the task of preparation of Indian telecom security assurance requirements," Dhotre said. Responding to a separate query with regard to 5G rollout, the minister said that 5G services have not been rolled out in the country as yet and the state-run telecom firms BSNL and MTNL have informed the government that they have not yet planned introduction of 5G services on their networks. Globally, over 100 telecom networks have adopted 5G technology. In India, telecom operators applied for spectrum to start 5G trials in August 2019 but the Department of Telecom (DoT) is yet to allocate radiowaves. Dhotre said that the DoT had in March 2018 approved a multi-institute collaborative project to set up indigenous 5G test bed at a total cost of Rs 224 crore. The collaborating institutes include IIT Madras, IIT Delhi, IIT Hyderabad, IIT Bombay, IIT Kanpur, IISc Bangalore, Society for Applied Microwave Electronics Engineering & Research (SAMEER) and Centre of Excellence in Wireless Technology (CEWiT). The project envisages setting up of an end to-end open 5G test bed in a distributed architecture model, and it will enable Indian academia and industry to validate their products, prototypes and algorithms, Dhotre said. It will also provide facilities for experimenting and demonstrating 5G applications, he said. Recently, Reliance Jio also announced development of indigenous 5G technology products, Dhotre said. Reliance Jio Infocomm and Bharti Airtel submitted fresh applications for field trials in July but they are yet to get the spectrum.

5G introduction depends on equipment, ecosystem, telcos' economic consideration: Govt

Domestic stock markets slipped on Thursday following losses in global markets after the US Federal Reserve’s policy-making committee indicated the overnight rate could stay close to zero for years to reach its 2 percent inflation target.&nbsp;

The S&amp;P BSE Sensex dipped 250 points to 38,988 levels and the Nifty50 index fell below the 11,550-mark.&nbsp;

The trend among Nifty sectoral indices was largely negative, with Nifty Metal index, down 1.8 per cent, leading the list of losers.

In the broader market, the S&amp;P BSE MidCap and SmallCap indexes were trading flat.

(With inputs from agencies)

Domestic stock markets slipped on Thursday following losses in global markets after the US Federal Reserve’s policy-making committee indicated the overnight rate could stay close to zero for years to reach its 2 percent inflation target.

Domestic stock markets slipped on Thursday following losses in global markets after the US Federal Reserve’s policy-making committee indicated the overnight rate could stay close to zero for years to reach its 2 percent inflation target. The S&P BSE Sensex dipped 250 points to 38,988 levels and the Nifty50 index fell below the 11,550-mark. The trend among Nifty sectoral indices was largely negative, with Nifty Metal index, down 1.8 per cent, leading the list of losers. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading flat. (With inputs from agencies)

Sensex slips over 250 points, Nifty below 11,550

German airline Lufthansa could cut its fleet by 130 planes in response to the Coronavirus crisis.

Lufthansa could reduce more planes, jobs

Walmart Inc-controlled Indian e-commerce firm Flipkart is preparing for an initial public offering overseas as early as 2021, which could value the firm up to $50 billion, sources familiar with the company's plans told Reuters.

Bengaluru-based Flipkart, which vies with players such as Amazon.com's local unit in India and India's Reliance Industries, will be aiming for a valuation in the $45-$50 billion range, according to one source with knowledge of the matter.

If achieved, that would mean Walmart would have more than doubled its investment.

Also read:&nbsp;<a href="http://13.235.153.162/india-news/flipkart-launches-wholesale-e-commerce-service-in-india-324713" hreflang="en">Flipkart launches wholesale e-commerce service in India</a>

Flipkart is likely to choose between Singapore, or the United States for the initial public offering (IPO), said two other sources, who asked not to be named as discussions are private.

"Flipkart is incorporated in Singapore, but listing in the United States, where parent Walmart is headquartered, could give it access to a deeper pool of funds," one of the sources said.

Flipkart and Walmart did not respond to Reuters requests for comment.

The sources said the preparations and discussions have been largely internal for now, but the company is preparing to tap external advisers on the process soon.

The discussions come as India drafts new regulations that could pave the way for domestic companies to directly list overseas.

Two other sources familiar with the plans said that work has begun to ensure compliance, legal and finance functions will meet regulatory standards ahead of a potential listing.

"Right now, the IPO target is more or less considered to be late 2021, or early 2022, but the current crisis has made things a little blurry," said one of these two sources.

The second person added that being "IPO ready" has become a constant refrain in top level meetings internally.

BUMPER VALUATION EYED

Walmart acquired a roughly 77% stake in Flipkart for about $16 billion back in 2018. That deal remains the single largest foreign direct investment in India.

It turned Flipkart's founders Sachin Bansal and Binny Bansal into billionaires, and confirmed Flipkart's status as the country's most successful start-up at the time.

Later that year, Bentonville, Arkansas-headquartered Walmart in a regulatory filing said it could take Flipkart public in four years.

In July this year, Flipkart raised $1.2 billion in fresh funding with Walmart as its lead investor. That round valued Flipkart, which counts China's Tencent, U.S. hedge fund Tiger Global, and Microsoft among its investors, at $24.9 billion.

Flipkart said it would use the funds, to be received in two tranches this fiscal year, to support the development of its e-commerce marketplace as India emerges from the COVID-19 crisis.

Also read:&nbsp;<a href="http://13.235.153.162/business-economy/flipkart-buys-parent-walmarts-indian-wholesale-business-315351" hreflang="en">Flipkart buys parent Walmart's Indian wholesale business</a>

Like its rival Amazon, Flipkart began by selling books, but diversified rapidly into sell selling smartphones, clothing and other items. It now competes with Amazon in most categories.

India's e-commerce sector is expected to be worth $99 billion by 2024, according to Goldman Sachs, as more Indians switch to online shopping.

That expanding market has attracted not only global giants such as Walmart and Amazon, but also India's oil-to-telecoms conglomerate Reliance, which has jumped into the fray.

Mumbai-based Reliance this year launched an online grocery service, JioMart, with its billionaire boss Mukesh Ambani telling shareholders in July that deliveries will expand into electronics and fashion products.

Walmart Inc-controlled Indian e-commerce firm Flipkart is preparing for an initial public offering overseas as early as 2021, which could value the firm up to $50 billion, sources familiar with the company's plans told Reuters.

Walmart Inc-controlled Indian e-commerce firm Flipkart is preparing for an initial public offering overseas as early as 2021, which could value the firm up to $50 billion, sources familiar with the company's plans told Reuters. Bengaluru-based Flipkart, which vies with players such as Amazon.com's local unit in India and India's Reliance Industries, will be aiming for a valuation in the $45-$50 billion range, according to one source with knowledge of the matter. If achieved, that would mean Walmart would have more than doubled its investment. Also read: Flipkart launches wholesale e-commerce service in India Flipkart is likely to choose between Singapore, or the United States for the initial public offering (IPO), said two other sources, who asked not to be named as discussions are private. "Flipkart is incorporated in Singapore, but listing in the United States, where parent Walmart is headquartered, could give it access to a deeper pool of funds," one of the sources said. Flipkart and Walmart did not respond to Reuters requests for comment. The sources said the preparations and discussions have been largely internal for now, but the company is preparing to tap external advisers on the process soon. The discussions come as India drafts new regulations that could pave the way for domestic companies to directly list overseas. Two other sources familiar with the plans said that work has begun to ensure compliance, legal and finance functions will meet regulatory standards ahead of a potential listing. "Right now, the IPO target is more or less considered to be late 2021, or early 2022, but the current crisis has made things a little blurry," said one of these two sources. The second person added that being "IPO ready" has become a constant refrain in top level meetings internally. BUMPER VALUATION EYED Walmart acquired a roughly 77% stake in Flipkart for about $16 billion back in 2018. That deal remains the single largest foreign direct investment in India. It turned Flipkart's founders Sachin Bansal and Binny Bansal into billionaires, and confirmed Flipkart's status as the country's most successful start-up at the time. Later that year, Bentonville, Arkansas-headquartered Walmart in a regulatory filing said it could take Flipkart public in four years. In July this year, Flipkart raised $1.2 billion in fresh funding with Walmart as its lead investor. That round valued Flipkart, which counts China's Tencent, U.S. hedge fund Tiger Global, and Microsoft among its investors, at $24.9 billion. Flipkart said it would use the funds, to be received in two tranches this fiscal year, to support the development of its e-commerce marketplace as India emerges from the COVID-19 crisis. Also read: Flipkart buys parent Walmart's Indian wholesale business Like its rival Amazon, Flipkart began by selling books, but diversified rapidly into sell selling smartphones, clothing and other items. It now competes with Amazon in most categories. India's e-commerce sector is expected to be worth $99 billion by 2024, according to Goldman Sachs, as more Indians switch to online shopping. That expanding market has attracted not only global giants such as Walmart and Amazon, but also India's oil-to-telecoms conglomerate Reliance, which has jumped into the fray. Mumbai-based Reliance this year launched an online grocery service, JioMart, with its billionaire boss Mukesh Ambani telling shareholders in July that deliveries will expand into electronics and fashion products.

Flipkart eyes overseas listing as early as 2021: Report

The domestic stock market indices moved higher in Wednesday's noon deals after spending majority of the session range-bound.

Sensex gained 200 points at 39,250 levels and the Nifty50 index was surpassed the 11,550-mark. Mahindra &amp; Mahindra (up 5%) was the top Sensex gainer, followed by Bajaj Auto (up 3%). Besides, HDFC Bank, Sun Pharma, and Reliance Industries also climbed 1 per cent each.

Meanwhile, total cases of the novel coronavirus in India surged past 5 million on Wednesday, with a single-day jump of 90,123 infections, according to health ministry data.

Separately, government data on Tuesday showed India posted a trade deficit of $6.77 billion in goods in August, higher than the $4.83 billion deficit posted in July.

"Trade deficit data is slightly disappointing... investors are now waiting for some clear-cut signals so that the next wave of buying can emerge," Gandhi added. 
Conglomerate Reliance Industries Ltd was the top boost to the Nifty, rising as much as 2.2% to a record high.

The Nifty Auto index rose 1.95%. Mahindra and Mahindra Ltd jumped as much as 5.9% and was among the top boosts to the Nifty 50.

The Nifty Bank Index fell 0.20%, with ICICI Bank Ltd and Axis Bank Ltd being among the top drags on the Nifty 50.&nbsp;

(With inputs from Reuters)

The domestic stock market indices moved higher in Wednesday's noon deals after spending majority of the session range-bound. Sensex gained 200 points at 39,250 levels and the Nifty50 index was surpassed the 11,550-mark.

The domestic stock market indices moved higher in Wednesday's noon deals after spending majority of the session range-bound. Sensex gained 200 points at 39,250 levels and the Nifty50 index was surpassed the 11,550-mark. Mahindra & Mahindra (up 5%) was the top Sensex gainer, followed by Bajaj Auto (up 3%). Besides, HDFC Bank, Sun Pharma, and Reliance Industries also climbed 1 per cent each. Meanwhile, total cases of the novel coronavirus in India surged past 5 million on Wednesday, with a single-day jump of 90,123 infections, according to health ministry data. Separately, government data on Tuesday showed India posted a trade deficit of $6.77 billion in goods in August, higher than the $4.83 billion deficit posted in July. "Trade deficit data is slightly disappointing... investors are now waiting for some clear-cut signals so that the next wave of buying can emerge," Gandhi added. Conglomerate Reliance Industries Ltd was the top boost to the Nifty, rising as much as 2.2% to a record high. The Nifty Auto index rose 1.95%. Mahindra and Mahindra Ltd jumped as much as 5.9% and was among the top boosts to the Nifty 50. The Nifty Bank Index fell 0.20%, with ICICI Bank Ltd and Axis Bank Ltd being among the top drags on the Nifty 50. (With inputs from Reuters)

Stock market at day's high with Nifty around 11,600; auto, realty stocks gain

The domestic stock market indices climbed off the day's top to trade flat with a positive bias on Tuesday.

Sensex hovered around 38,820 levels, after rising as high as 39,013 levels intra-day. The Nifty50 index was, meanwhile, holding the 11,450-mark. Sun Pharma and Bajaj Finance (both up 2%) were the top Sensex gainers, followed by NTPC, ICICI Bank, and Tata Steel (all up 1%).

Rupee opened 10 paise higher at 73.38 per dollar on September 15 after the greenback remained soft against its global peers as investors focus on the US Fed monetary policy meeting.

In the previous session, Sensex ended 97.92 points or 0.25 per cent lower at 38,756.63, while the Nifty slipped 24.40 points or 0.21 per cent to close at 11,440.05.

Exchange data showed that foreign institutional investors bought equities worth Rs 298.22 crore on a net basis on Monday.

Domestic equities opened on a positive note tracking firm cues from global markets and sustained foreign fund inflow, traders said.

Bourses in Shanghai, Hong Kong and Seoul were trading with gains in mid-day deals.

Stock exchanges on Wall Street ended significantly higher in overnight trade.

Meanwhile, global oil benchmark Brent crude was trading 0.10 per cent lower at USD 39.57 per barrel.

(With inputs from PTI)

The domestic stock market indices climbed off the day's top to trade flat with a positive bias on Tuesday. Sensex hovered around 38,820 levels, after rising as high as 39,013 levels intra-day.

The domestic stock market indices climbed off the day's top to trade flat with a positive bias on Tuesday. Sensex hovered around 38,820 levels, after rising as high as 39,013 levels intra-day. The Nifty50 index was, meanwhile, holding the 11,450-mark. Sun Pharma and Bajaj Finance (both up 2%) were the top Sensex gainers, followed by NTPC, ICICI Bank, and Tata Steel (all up 1%). Rupee opened 10 paise higher at 73.38 per dollar on September 15 after the greenback remained soft against its global peers as investors focus on the US Fed monetary policy meeting. In the previous session, Sensex ended 97.92 points or 0.25 per cent lower at 38,756.63, while the Nifty slipped 24.40 points or 0.21 per cent to close at 11,440.05. Exchange data showed that foreign institutional investors bought equities worth Rs 298.22 crore on a net basis on Monday. Domestic equities opened on a positive note tracking firm cues from global markets and sustained foreign fund inflow, traders said. Bourses in Shanghai, Hong Kong and Seoul were trading with gains in mid-day deals. Stock exchanges on Wall Street ended significantly higher in overnight trade. Meanwhile, global oil benchmark Brent crude was trading 0.10 per cent lower at USD 39.57 per barrel. (With inputs from PTI)

Stock Market indices trade flat with Nifty around 11,450; pharma stocks gain

According to a new report by the Asian Development Bank, due to the devastating and extended effects of COVID-19, the Asian economies are expected to end the year in negative territory for the first time since the 1960s.

Asian  Economies to contract first time in 60 years

German carmaker Daimler, which owns Mercedes-Benz, has agreed to pay $1.5bn (£1.2bn) to resolve US government claims that it designed its diesel vehicles to cheat air pollution tests.

Daimler to pay $2.2bn over emissions settlements

Airbus has stepped up warnings of compulsory layoffs as air travel fails to recover as quickly as expected from the coronavirus crisis.

Airbus warns of compulsory layoffs as air travel fails to recover

LVMH has denied Tiffany’s accusation that it is trying to negotiate a lower price

French govt asked LVMH to postpone luxury deal

As COVID-19 grounds swaths of airline fleets, companies that profit off the dismantling and trade of aircraft parts are seeing early signs of an expected rebound in activity as carriers accelerate plane retirements.

A sudden increase in used plane parts supply

European Central Bank President Christine Lagarde said that Euro zone governments must keep spending heavily to aid the bloc’s recovery from its historic pandemic-induced recession, complementing already super-easy monetary policy.

EU government's urged to spend heavily: ECB Chief shifts burden to govt on recovery

There has been decline in foreign direct inflow from China in the last three years with FDI coming down to $163.77 million in 2019-20, Minister of State for Finance Anurag Singh Thakur informed Lok Sabha on Monday.

Giving details of the total foreign direct investment (FDI) inflow from Chinese companies in India, he said, it was $350.22 million in 2017-18, while it declined to $229 million in the following year.

During 2019-20, FDI further came down to $163.77 million, he said in a written reply on the first day of the monsoon session.

With regard to outflow from India, he said, it was $20.63 million in calendar year 2020 as against $27.57 million in the corresponding period last year.

To curb opportunistic takeovers or acquisitions of Indian companies due to the current COVID-19 pandemic, the government issued Press Note 3 earlier this year, he said.

"A non-resident entity can invest in India, subject to the FDI policy except in those sectors/activities which are prohibited."

"However, an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the government route," he said quoting the Press Note 3.

Further, he said, "a citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the government route, in sectors/activities other than defence, space, atomic energy and sectors/activities prohibited for foreign investment."

Replying to another question, Thakur said, the Department of Expenditure has released the central share of State Disaster Response Fund (SDRF) to the states including Maharashtra in the first week of April 2020 in the view of the pandemic.

Further, to provide additional resources to states to fight against COVID-19 and considering the request of the states for relaxation of the existing Fiscal Responsibility and Budget Management Act (FRBM) limit of 3 per cent of gross state domestic product (GSDP), additional borrowing limit of up to 2 percent of GSDP has been allowed to states for the year 2020-21, he said.

Out of the additional borrowing limit of 2 per cent of GSDP allowed to states, consent of 0.50 per cent of GSDP amounting to Rs 1,06,830 crore has already been issued to the states including the consent of Rs 15,394 crore to the state of Maharashtra to raise open market borrowing (OMB) during the year 2020-21, he added.

There has been decline in foreign direct inflow from China in the last three years with FDI coming down to $163.77 million in 2019-20, Minister of State for Finance Anurag Singh Thakur informed Lok Sabha on Monday.

There has been decline in foreign direct inflow from China in the last three years with FDI coming down to $163.77 million in 2019-20, Minister of State for Finance Anurag Singh Thakur informed Lok Sabha on Monday. Giving details of the total foreign direct investment (FDI) inflow from Chinese companies in India, he said, it was $350.22 million in 2017-18, while it declined to $229 million in the following year. During 2019-20, FDI further came down to $163.77 million, he said in a written reply on the first day of the monsoon session. With regard to outflow from India, he said, it was $20.63 million in calendar year 2020 as against $27.57 million in the corresponding period last year. To curb opportunistic takeovers or acquisitions of Indian companies due to the current COVID-19 pandemic, the government issued Press Note 3 earlier this year, he said. "A non-resident entity can invest in India, subject to the FDI policy except in those sectors/activities which are prohibited." "However, an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the government route," he said quoting the Press Note 3. Further, he said, "a citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the government route, in sectors/activities other than defence, space, atomic energy and sectors/activities prohibited for foreign investment." Replying to another question, Thakur said, the Department of Expenditure has released the central share of State Disaster Response Fund (SDRF) to the states including Maharashtra in the first week of April 2020 in the view of the pandemic. Further, to provide additional resources to states to fight against COVID-19 and considering the request of the states for relaxation of the existing Fiscal Responsibility and Budget Management Act (FRBM) limit of 3 per cent of gross state domestic product (GSDP), additional borrowing limit of up to 2 percent of GSDP has been allowed to states for the year 2020-21, he said. Out of the additional borrowing limit of 2 per cent of GSDP allowed to states, consent of 0.50 per cent of GSDP amounting to Rs 1,06,830 crore has already been issued to the states including the consent of Rs 15,394 crore to the state of Maharashtra to raise open market borrowing (OMB) during the year 2020-21, he added.

FDI inflow from China declines to $163.77 million in FY20: Anurag Thakur

The coronavirus pandemic has pushed the US federal budget deficit above $3 trillion for the first 11 months of fiscal 2020, more than doubling the previous full-year record, the US Treasury said on Friday.

The budget deficit for August was $200 billion, matching the deficit in August 2019 but lower than the $245 billion forecast by analysts in a Reuters poll. However, $55 billion worth of benefit payments were shifted into July because August started on a weekend.

<a href="https://www.wionews.com/business-economy/tiffany-sues-lvmh-for-reneging-on-16-billion-deal-as-france-steps-in-326552">Also read:&nbsp;Tiffany sues LVMH for reneging on $16 billion deal as France steps in</a>

The $3.007 trillion year-to-date deficit was nearly triple the $1.067 trillion deficit for the comparable year-ago period, spurred by a massive increase in government spending to battle the economic fallout from the pandemic.

The previous 11-month deficit record was $1.37 trillion, reported by the Treasury in August 2009 during the financial crisis and recession. The full fiscal 2009 deficit totaled $1.4 trillion.

Concerns about ballooning deficits have stoked opposition by some Republicans in Congress to spending trillions of dollars more on a new round of coronavirus aid programs. This has helped to stall negotiations between Democrats and the Trump administration.

<a href="https://www.wionews.com/business-economy/elon-musks-tesla-witnesses-worst-single-day-loss-in-its-history-company-plunges-by-21-326216">Also read:&nbsp;Elon Musk's Tesla witnesses worst single-day loss in its history; company plunges by 21%</a>

The non-partisan Congressional Budget Office has projected the full-year 2020 US deficit to reach $3.3 trillion, or 16 per cent of GDP, the highest share since the end of World War Two.

August budget outlays were $423 billion, compared with $428 billion in August 2019 and $626 billion in July 2020. Labor- related outlays, largely unemployment benefits, fell to $55 billion in August from $110 billion in July after a $600-a-week federal unemployment supplement expired on July 31.

Receipts in August were $223 billion, compared with $228 billion in the year-earlier period. While taxes collected from paycheck withholdings fell by $11 billion from a year earlier, non-withheld tax payments were up $4 billion due to a processing backlog from the delayed July 15 tax deadline, a Treasury official said.

Earnings from the Federal Reserve soared in August by $5 billion compared with a year earlier from earnings on the Fed’s massively expanded bond holdings and lower interest payments on bank reserves.

The Treasury’s interest costs on public debt rose $7 billion in August compared with a year earlier as borrowing expanded massively. But debt costs were $53 billion lower for the first 11 months of 2020 versus a year earlier due to lower interest rates.

The coronavirus pandemic has pushed the US federal budget deficit above $3 trillion for the first 11 months of fiscal 2020, more than doubling the previous full-year record, the US Treasury said on Friday.

The coronavirus pandemic has pushed the US federal budget deficit above $3 trillion for the first 11 months of fiscal 2020, more than doubling the previous full-year record, the US Treasury said on Friday. The budget deficit for August was $200 billion, matching the deficit in August 2019 but lower than the $245 billion forecast by analysts in a Reuters poll. However, $55 billion worth of benefit payments were shifted into July because August started on a weekend. Also read: Tiffany sues LVMH for reneging on $16 billion deal as France steps in The $3.007 trillion year-to-date deficit was nearly triple the $1.067 trillion deficit for the comparable year-ago period, spurred by a massive increase in government spending to battle the economic fallout from the pandemic. The previous 11-month deficit record was $1.37 trillion, reported by the Treasury in August 2009 during the financial crisis and recession. The full fiscal 2009 deficit totaled $1.4 trillion. Concerns about ballooning deficits have stoked opposition by some Republicans in Congress to spending trillions of dollars more on a new round of coronavirus aid programs. This has helped to stall negotiations between Democrats and the Trump administration. Also read: Elon Musk's Tesla witnesses worst single-day loss in its history; company plunges by 21% The non-partisan Congressional Budget Office has projected the full-year 2020 US deficit to reach $3.3 trillion, or 16 per cent of GDP, the highest share since the end of World War Two. August budget outlays were $423 billion, compared with $428 billion in August 2019 and $626 billion in July 2020. Labor- related outlays, largely unemployment benefits, fell to $55 billion in August from $110 billion in July after a $600-a-week federal unemployment supplement expired on July 31. Receipts in August were $223 billion, compared with $228 billion in the year-earlier period. While taxes collected from paycheck withholdings fell by $11 billion from a year earlier, non-withheld tax payments were up $4 billion due to a processing backlog from the delayed July 15 tax deadline, a Treasury official said. Earnings from the Federal Reserve soared in August by $5 billion compared with a year earlier from earnings on the Fed’s massively expanded bond holdings and lower interest payments on bank reserves. The Treasury’s interest costs on public debt rose $7 billion in August compared with a year earlier as borrowing expanded massively. But debt costs were $53 billion lower for the first 11 months of 2020 versus a year earlier due to lower interest rates.

US budget deficit tops $3 trillion with one month left in fiscal 2020

Communist-run Cuba will soon devalue the peso’s one-to-one exchange rate with the US dollar for the first time since the 1959 revolution, according to three sources who requested anonymity due to the sensitivity of the subject.

Cuba plans first official peso devaluation since 1959 revolution | Sources

France's economy has been pushed into a recession by the coronavirus crisis. However, the economy is bouncing back and there is a struggle in recovery.

France economy struggles to recover as hit by coronavirus pandemic

Indian shares ended flat on Friday, as an agreement between India and China to de-escalate tensions on their contested border offset some negative sentiment from a continued selloff in U.S. tech stocks overnight, while investors also awaited industry data.

The blue-chip NSE Nifty 50 index closed up 0.13% at 11,464.45, while the benchmark S&amp;P BSE Sensex ended up 0.04% at 38,854.55. The indexes gained 1.2% and 1.3%, respectively, for the week after falling more than 2.6% last week.

The country will be releasing its industrial output data for July later in the day. A Reuters poll forecast a fourth straight month of decline.

India and China said they had agreed to disengage troops on their contested Himalayan border and take steps to restore "peace" following a high-level diplomatic meeting in Moscow.

The Nifty Auto Index ended 0.15% higher, after the country`s auto industry body said total domestic passenger vehicle sales for August were up 14.2% on the year.

The Nifty Metal Index closed up 0.61%. The Indian government is planning to restrict copper and aluminium imports to protect domestic producers, Reuters reported on Thursday, citing sources.

India`s most valuable bank HDFC Bank Ltd and mortgage lender Housing Development Finance Corporation were the top drags on the Nifty, ending down 1.1% and 0.5%, respectively.

IT major Tata Consultancy Services Ltd, which closed 1.8% higher, and consumer goods giant Hindustan Unilever Ltd, which ended up 1.2%, were the top boosts to the Nifty.

Broader global markets struggled for momentum, with European and Asian shares rising slightly after overnight selling in U.S. technology stocks and concerns over U.S. stimulus.

Indian shares ended flat on Friday, as an agreement between India and China to de-escalate tensions on their contested border offset some negative sentiment from a continued selloff in U.

Indian shares ended flat on Friday, as an agreement between India and China to de-escalate tensions on their contested border offset some negative sentiment from a continued selloff in U.S. tech stocks overnight, while investors also awaited industry data. The blue-chip NSE Nifty 50 index closed up 0.13% at 11,464.45, while the benchmark S&P BSE Sensex ended up 0.04% at 38,854.55. The indexes gained 1.2% and 1.3%, respectively, for the week after falling more than 2.6% last week. The country will be releasing its industrial output data for July later in the day. A Reuters poll forecast a fourth straight month of decline. India and China said they had agreed to disengage troops on their contested Himalayan border and take steps to restore "peace" following a high-level diplomatic meeting in Moscow. The Nifty Auto Index ended 0.15% higher, after the country`s auto industry body said total domestic passenger vehicle sales for August were up 14.2% on the year. The Nifty Metal Index closed up 0.61%. The Indian government is planning to restrict copper and aluminium imports to protect domestic producers, Reuters reported on Thursday, citing sources. India`s most valuable bank HDFC Bank Ltd and mortgage lender Housing Development Finance Corporation were the top drags on the Nifty, ending down 1.1% and 0.5%, respectively. IT major Tata Consultancy Services Ltd, which closed 1.8% higher, and consumer goods giant Hindustan Unilever Ltd, which ended up 1.2%, were the top boosts to the Nifty. Broader global markets struggled for momentum, with European and Asian shares rising slightly after overnight selling in U.S. technology stocks and concerns over U.S. stimulus.

Sensex, Nifty close flat with focus on China border talks, industry data