National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides

The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

India names 27 sites in Arunachal Pradesh

Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?

How many soldiers operate one S-400 battery?

Shakib Al Hasan ready to return to Bangladesh—under one condition

‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states

Technology transfer deal boosts India's defence manufacturing ambitions

Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy

Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS

'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia

Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside

Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift

New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more

Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot

RSS says Gen Z protests reflect genuine distress

Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'

IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act

Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott

Why the Su-30MKI doesn't need external fuel tanks to fly vast distances

Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation

New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know

India officially names 27 places in Arunachal to counter China's renaming claims

Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed

US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance

Why the Su-30MKI is one of the heaviest fighters ever built

Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH

Chilling video shows students take cover as teen opens fire at Thai school

Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report

Gold prices rose to a two-week high on Tuesday as the spread of a new virus in <a href="https://www.wionews.com/business-economy/gold-rises-to-one-week-peak-amid-trade-anxiety-254957">China stoked fears</a> of a wider epidemic, sparking a sudden bout of risk aversion and sell-off in <a href="https://www.wionews.com/business-economy/global-markets-asian-shares-lower-as-investors-book-decade-end-profits-271229">Asian stocks</a>.

Spot gold prices touched their highest since Jan. 8 at $1,568.35 and were up 0.1 per cent&nbsp;to $1,563.01 per ounce by 0730 GMT. US&nbsp;gold futures were 0.3 per cent&nbsp;higher at $1,564.10.

<img alt="Customers select gold bracelets at Caibai Jewelry store in Beijing" data-entity-type="file" data-entity-uuid="3ca286a0-6aeb-4700-b332-f262b5b8f3c6" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2831%29_0.jpg" /> 
[&nbsp;Customers select gold bracelets at Caibai Jewelry store in Beijing (Courtesy: Reuters) ]

Asian shares slipped as the new coronavirus has spread to more Chinese cities and <a href="https://www.wionews.com/business-economy/gold-prices-steady-as-us-china-trade-deal-doubts-linger-263135">concerns mounted</a> it could spread further with many traveling for the Lunar New Year holidays.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/gold-climbs-to-three-month-high-poised-for-best-year-since-2010-271231">Gold climbs to three-month high, poised for best year since 2010</a>

Gold prices were driven by "the rapid spread of the virus from Wuhan, China, which has caused panic", said Margaret Yang Yan, a market analyst at CMC Markets.

"Chinese New Year holidays are going to worsen the situation as people are bound to travel in China. The fear of outbreak is going to drive up demand for gold for a couple more days," she added.

China will start celebrating the Lunar New Year this weekend. The yen also gained on concerns of a wider outbreak, which has prompted the World Health Organisation to convene an emergency meeting to assess the situation.

Gold prices rose to a two-week high on Tuesday as the spread of a new virus in China stoked fears of a wider epidemic, sparking a sudden bout of risk aversion and sell-off in Asian stocks.

Gold prices rose to a two-week high on Tuesday as the spread of a new virus in China stoked fears of a wider epidemic, sparking a sudden bout of risk aversion and sell-off in Asian stocks. Spot gold prices touched their highest since Jan. 8 at $1,568.35 and were up 0.1 per cent to $1,563.01 per ounce by 0730 GMT. US gold futures were 0.3 per cent higher at $1,564.10. [ Customers select gold bracelets at Caibai Jewelry store in Beijing (Courtesy: Reuters) ] Asian shares slipped as the new coronavirus has spread to more Chinese cities and concerns mounted it could spread further with many traveling for the Lunar New Year holidays. Also Read: Gold climbs to three-month high, poised for best year since 2010 Gold prices were driven by "the rapid spread of the virus from Wuhan, China, which has caused panic", said Margaret Yang Yan, a market analyst at CMC Markets. "Chinese New Year holidays are going to worsen the situation as people are bound to travel in China. The fear of outbreak is going to drive up demand for gold for a couple more days," she added. China will start celebrating the Lunar New Year this weekend. The yen also gained on concerns of a wider outbreak, which has prompted the World Health Organisation to convene an emergency meeting to assess the situation.

Gold prices climb to two week high as China flu scare spurs safe haven bids

Asian shares took a sudden turn for the worse on Tuesday as mounting concerns about a new strain of coronavirus in China sent a ripple of risk aversion through markets.

Safe-haven bonds and the yen edged higher as investors were reminded of the economic damage done by the SARS virus in 2003, particularly given the threat of contagion as hundreds of millions travel for the Lunar New Year holidays.

"It's an essential enough development that markets will monitor it on the risk radar as, if things turn critical, it could provide a massive blow to the airline industry and a knockout punch to local tourism," said Stephen Innes, Asia Pacific market strategist at AxiCorp.

<img alt="China Stock Market" data-entity-type="file" data-entity-uuid="2eb92339-9586-4c42-b886-0cf231f8a2da" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2832%29_2.jpg" /> 
[&nbsp;Investors look at computer screens showing stock information at a brokerage house in Shanghai (Courtesy: Reuters) ]

The mood swing saw MSCI's broadest index of Asia-Pacific shares outside Japan slipped 1 per cent&nbsp;after a steady start. Hong Kong, which suffered badly during the SARS outbreak, saw its index fall 2 per cent.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/world-stocks-hit-all-time-high-after-trump-tweets-close-to-china-deal-267973">World stocks hit all time high after Trump tweets 'close to China deal'</a>

Japan's Nikkei lost 0.8 per cent&nbsp;and Shanghai blue chips 1.5 per cent&nbsp;with airlines under pressure. The caution spread to E-Mini futures for the S&amp;P 500 which eased 0.4 per cent, while Eurostoxx&nbsp;50 futures lost 0.3 per cent.

Investors had already been guarded after the International Monetary Fund trimmed its global growth forecasts, mostly due to a surprisingly sharp slowdown in India and other emerging markets.

There had been some relief as U<a href="https://www.wionews.com/business-economy/oil-ends-higher-as-trade-deal-progresses-spurs-energy-demand-hopes-275526">S&nbsp;President Donald Trump</a> and French President Emmanuel Macron seemed to have struck a truce over a proposed digital tax.

The two agreed to hold off on a <a href="https://www.wionews.com/business-economy/wall-street-stocks-surge-after-us-china-trade-accord-274737">potential tariffs war</a> until the end of the year, a French diplomatic source said. Trump is due to deliver a speech at the World Economic Forum in Davos later on Tuesday, and trade and tariffs could be on the agenda.

In a tweet late on Monday, Trump said he would be bringing "additional Hundreds of Billions of Dollars back to the United States of America! We are now NUMBER ONE in the Universe, by FAR!!"

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Heading to Davos, Switzerland, to meet with World and Business Leaders and bring Good Policy and additional Hundreds of Billions of Dollars back to the United States of America! We are now NUMBER ONE in the Universe, by FAR!!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1219424278216470528?ref_src=twsrc%5Etfw">January 21, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The Bank of Japan cited lessened trade risks when nudging up forecasts for economic growth after holding a policy meeting on Tuesday. As widely expected, the BOJ maintained its short-term interest rate target at -0.1 per cent&nbsp;and a pledge to guide 10-year government bond yields around 0 per cent, by a 7-2 vote.

Japan's yen picked up a bid on the safe-haven move and the dollar dipped to 109.92 from an early 110.17. It also gained on the euro, leaving the single currency flat on the dollar at $1.1092. Against a basket of currencies, the dollar was steady at 97.599, just off a four-week high of 97.729.

The Australia dollar took a knock from the flu worries since it attracts large numbers of Chinese tourists, who tend to be big spenders over the Lunar New Year holidays. Australia said it would step up the screening of some flights from Wuhan.

The outbreak was particularly badly timed as the tourism industry has been mauled already by bushfires sweeping the country. Spot gold edged up to $1,566.71 per ounce, and back toward a seven-year peak of $1,610.90 reached last week.

Oil prices hesitated, having earlier gained on the risk of supply disruption in Libya. Brent crude futures eased 31 cents to $64.89 a barrel, while US&nbsp;crude fell 5 cents to $58.49.

Asian shares took a sudden turn for the worse on Tuesday as mounting concerns about a new strain of coronavirus in China sent a ripple of risk aversion through markets.

Asian shares took a sudden turn for the worse on Tuesday as mounting concerns about a new strain of coronavirus in China sent a ripple of risk aversion through markets. Safe-haven bonds and the yen edged higher as investors were reminded of the economic damage done by the SARS virus in 2003, particularly given the threat of contagion as hundreds of millions travel for the Lunar New Year holidays. "It's an essential enough development that markets will monitor it on the risk radar as, if things turn critical, it could provide a massive blow to the airline industry and a knockout punch to local tourism," said Stephen Innes, Asia Pacific market strategist at AxiCorp. [ Investors look at computer screens showing stock information at a brokerage house in Shanghai (Courtesy: Reuters) ] The mood swing saw MSCI's broadest index of Asia-Pacific shares outside Japan slipped 1 per cent after a steady start. Hong Kong, which suffered badly during the SARS outbreak, saw its index fall 2 per cent. Also Read: World stocks hit all time high after Trump tweets 'close to China deal' Japan's Nikkei lost 0.8 per cent and Shanghai blue chips 1.5 per cent with airlines under pressure. The caution spread to E-Mini futures for the S&P 500 which eased 0.4 per cent, while Eurostoxx 50 futures lost 0.3 per cent. Investors had already been guarded after the International Monetary Fund trimmed its global growth forecasts, mostly due to a surprisingly sharp slowdown in India and other emerging markets. There had been some relief as US President Donald Trump and French President Emmanuel Macron seemed to have struck a truce over a proposed digital tax. The two agreed to hold off on a potential tariffs war until the end of the year, a French diplomatic source said. Trump is due to deliver a speech at the World Economic Forum in Davos later on Tuesday, and trade and tariffs could be on the agenda. In a tweet late on Monday, Trump said he would be bringing "additional Hundreds of Billions of Dollars back to the United States of America! We are now NUMBER ONE in the Universe, by FAR!!" Heading to Davos, Switzerland, to meet with World and Business Leaders and bring Good Policy and additional Hundreds of Billions of Dollars back to the United States of America! We are now NUMBER ONE in the Universe, by FAR!! — Donald J. Trump (@realDonaldTrump) January 21, 2020 × The Bank of Japan cited lessened trade risks when nudging up forecasts for economic growth after holding a policy meeting on Tuesday. As widely expected, the BOJ maintained its short-term interest rate target at -0.1 per cent and a pledge to guide 10-year government bond yields around 0 per cent, by a 7-2 vote. Japan's yen picked up a bid on the safe-haven move and the dollar dipped to 109.92 from an early 110.17. It also gained on the euro, leaving the single currency flat on the dollar at $1.1092. Against a basket of currencies, the dollar was steady at 97.599, just off a four-week high of 97.729. The Australia dollar took a knock from the flu worries since it attracts large numbers of Chinese tourists, who tend to be big spenders over the Lunar New Year holidays. Australia said it would step up the screening of some flights from Wuhan. The outbreak was particularly badly timed as the tourism industry has been mauled already by bushfires sweeping the country. Spot gold edged up to $1,566.71 per ounce, and back toward a seven-year peak of $1,610.90 reached last week. Oil prices hesitated, having earlier gained on the risk of supply disruption in Libya. Brent crude futures eased 31 cents to $64.89 a barrel, while US crude fell 5 cents to $58.49.

Asian shares dip as China virus spreads

Market benchmark Sensex dropped 205 points on Tuesday, led by losses in auto, banking, metal and FMCG stocks amid a sharp fall in other Asian markets on concerns over a deadly virus in China.

After trading on a volatile note, the 30-share BSE index settled 205.10 points, or 0.49 per cent, lower at 41,323.81.

Likewise, the broader NSE Nifty fell 54.70 points, or 0.45 per cent, to 12,169.85.

Tata Steel was the top loser in the Sensex pack, shedding 3.01 per cent, followed by M&amp;M, Maruti, Asian Paints, PowerGrid, ITC and Axis Bank.

On the other hand, Ultratech Cement, HDFC, Kotak Bank, ONGC and TCS ended with gains.

According to traders, domestic investors turned wary amid subdued quarterly results by key index constituents and negative cues from global markets.

Further, market sentiment was hit after the IMF on Monday lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with sharp losses.

European markets were also trading on a negative note in their early sessions.

Brent crude oil futures fell 1.21 per cent to USD 64.41 per barrel.

The rupee depreciated 5 paise to 71.16 per US dollar (intra-day).

Market benchmark Sensex dropped 205 points on Tuesday, led by losses in auto, banking, metal and FMCG stocks amid a sharp fall in other Asian markets on concerns over a deadly virus in China.

Market benchmark Sensex dropped 205 points on Tuesday, led by losses in auto, banking, metal and FMCG stocks amid a sharp fall in other Asian markets on concerns over a deadly virus in China. After trading on a volatile note, the 30-share BSE index settled 205.10 points, or 0.49 per cent, lower at 41,323.81. Likewise, the broader NSE Nifty fell 54.70 points, or 0.45 per cent, to 12,169.85. Tata Steel was the top loser in the Sensex pack, shedding 3.01 per cent, followed by M&M, Maruti, Asian Paints, PowerGrid, ITC and Axis Bank. On the other hand, Ultratech Cement, HDFC, Kotak Bank, ONGC and TCS ended with gains. According to traders, domestic investors turned wary amid subdued quarterly results by key index constituents and negative cues from global markets. Further, market sentiment was hit after the IMF on Monday lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years. Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with sharp losses. European markets were also trading on a negative note in their early sessions. Brent crude oil futures fell 1.21 per cent to USD 64.41 per barrel. The rupee depreciated 5 paise to 71.16 per US dollar (intra-day).

Sensex ends 205 points lower; Nifty slips below 12,200

Shares of Info Edge (India), one of the shareholders in Zomato, on Tuesday gained over 3 per cent after the online food ordering platform acquired the India business of Uber Eats in an all-stock deal.

Shares of Info Edge (India) rose 3.47 per cent to trade at Rs 2,676.10 per unit on the BSE.

On the NSE, the stock gained as much as 3.2 per cent to Rs 2,675.

Zomato on Tuesday said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform.

Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, as per a company statement.

In a regulatory filing to BSE, Info Edge (India) - a shareholder in Zomato - said its shareholding in Zomato will stand reduced to about 22.71 per cent on fully converted and the diluted basis upon closing of the transaction.

Shares of Info Edge (India), one of the shareholders in Zomato, on Tuesday gained over 3 per cent after the online food ordering platform acquired the India business of Uber Eats in an all-stock deal.

Shares of Info Edge (India), one of the shareholders in Zomato, on Tuesday gained over 3 per cent after the online food ordering platform acquired the India business of Uber Eats in an all-stock deal. Shares of Info Edge (India) rose 3.47 per cent to trade at Rs 2,676.10 per unit on the BSE. On the NSE, the stock gained as much as 3.2 per cent to Rs 2,675. Zomato on Tuesday said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, as per a company statement. In a regulatory filing to BSE, Info Edge (India) - a shareholder in Zomato - said its shareholding in Zomato will stand reduced to about 22.71 per cent on fully converted and the diluted basis upon closing of the transaction.

Zomato-Uber Eats deal: Info Edge shares rise over 3 per cent

Instagram on Monday dropped the IGTV icon from the home screen of the app because hardly any user was using it.

According to a report, most people are finding IGTV content through previews in Feed, the IGTV channel in Explore, creators'&nbsp;profiles, and the standalone IGTV app. Hence, the separate icon on the top right corner of the home screen has been removed.

To enable more users to easily post long-form videos, Instagram also added a new feature that allows users to post IGTV videos right from the main app's IGTV feed video uploader.&nbsp;

The feature was <a href="https://www.wionews.com/business-&amp;-economy/instagram-unveils-new-video-service-in-challenge-to-youtube-145996">launched in June 2018</a>.

The feature had&nbsp;increased&nbsp;Instagram’s video time limit from one minute to 10 minutes for most users. Accounts with large audiences were able to go as long as an hour.

&nbsp;

&nbsp;

 
&nbsp;

Instagram on Monday dropped the IGTV icon from the home screen of the app because hardly any user was using it. According to a report, most people are finding IGTV content through previews in Feed, the IGTV channel in Explore, creators' profiles, and the standalone IGTV app.

Instagram on Monday dropped the IGTV icon from the home screen of the app because hardly any user was using it. According to a report, most people are finding IGTV content through previews in Feed, the IGTV channel in Explore, creators' profiles, and the standalone IGTV app. Hence, the separate icon on the top right corner of the home screen has been removed. To enable more users to easily post long-form videos, Instagram also added a new feature that allows users to post IGTV videos right from the main app's IGTV feed video uploader. The feature was launched in June 2018. The feature had increased Instagram’s video time limit from one minute to 10 minutes for most users. Accounts with large audiences were able to go as long as an hour.

Instagram removes IGTV button from home screen

The <a href="https://www.wionews.com/world/us-mexico-canada-deal-most-important-trade-pact-ever-trump-168842">US Senate</a> approved a revamp of the US-Mexico-Canada Free Trade Agreement a day after the signing of the Phase 1 trade deal between the United States and China.

Brent settled up 62 cents, or 1%, to $64.62 a barrel, while US West Texas Intermediate (WTI) crude rose by 71 cents, or 1.2%, to $58.52 a barrel.

Oil rose about 1% on Thursday, as progress on another major trade deal fed optimism that energy demand will grow in 2020, which offset bearish market comments from the International Energy Agency.

The deal that the Senate approved was a revamp of the 26-year-old North American Free Trade Agreement. A day earlier, US and Chinese leaders signed the Phase 1 trade deal calling for the world's largest energy importer to buy $50 billion more of US oil, liquefied natural gas and other energy products over two years.

Also Read:&nbsp;<a href="https://www.wionews.com/world/usmca-united-states-mexico-and-canada-finalize-new-trade-agreement-267552">United States, Mexico, Canada sign deal finalizing USMCA trade pact</a>

However, analysts warned that China might struggle to meet the target and said oil prices could be volatile until more details emerge. 
Trade sources said sharply higher Chinese purchases of US energy products as part of the China-US trade deal will shake up global crude oil trade flows if American supplies squeeze rival crudes out of the top oil import market.

<img alt="New York Stock Exchange" data-entity-type="file" data-entity-uuid="61ac745d-d1d2-4838-8094-dbcdb6e7d35b" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20-%202020-01-20T183634.573_0.jpg" /> 
[ (Traders work on the floor at the&nbsp;New&nbsp;York Stock Exchange (Courtesy: Reuters) ]

"We had the US-China trade deal yesterday - signed and sealed. And now you got the <a href="https://www.wionews.com/business-economy/mexican-businesses-want-clarity-on-details-of-usmca-trade-deal-267698">US-Mexico</a> trade going through the senate. So I think the optimism surrounding the demand is rising exponentially right now," said Phil Flynn, an analyst at Price Futures Group in Chicago.

The oil benchmark prices were also supported by a report from the Federal Reserve Bank of Philadelphia showing strong manufacturing activity in the US Mid-Atlantic region and as Wall Street stock indexes scaled new records. The S&amp;P 500 touched a record high.

Price gains were capped earlier as the International Energy Agency (IEA) said it expected oil production to outpace demand for crude from the Organization of the Petroleum Exporting Countries (OPEC), even if members comply fully with a pact with Russia and other non-OPEC allies to curb output.

However, Flynn believes the agency may be underestimating the potential demand boost from the US-Mexico trade accord and the US-China trade deal.

UBS said in a note "provided Middle East tensions do not intensify and cause production disruptions, Brent should decline toward the bottom of a $60–65 per barrel trading range in 1H20 before recovering to the top of it in the second half of the year".

The US Senate approved a revamp of the US-Mexico-Canada Free Trade Agreement a day after the signing of the Phase 1 trade deal between the United States and China.

The US Senate approved a revamp of the US-Mexico-Canada Free Trade Agreement a day after the signing of the Phase 1 trade deal between the United States and China. Brent settled up 62 cents, or 1%, to $64.62 a barrel, while US West Texas Intermediate (WTI) crude rose by 71 cents, or 1.2%, to $58.52 a barrel. Oil rose about 1% on Thursday, as progress on another major trade deal fed optimism that energy demand will grow in 2020, which offset bearish market comments from the International Energy Agency. The deal that the Senate approved was a revamp of the 26-year-old North American Free Trade Agreement. A day earlier, US and Chinese leaders signed the Phase 1 trade deal calling for the world's largest energy importer to buy $50 billion more of US oil, liquefied natural gas and other energy products over two years. Also Read: United States, Mexico, Canada sign deal finalizing USMCA trade pact However, analysts warned that China might struggle to meet the target and said oil prices could be volatile until more details emerge. Trade sources said sharply higher Chinese purchases of US energy products as part of the China-US trade deal will shake up global crude oil trade flows if American supplies squeeze rival crudes out of the top oil import market. [ (Traders work on the floor at the New York Stock Exchange (Courtesy: Reuters) ] "We had the US-China trade deal yesterday - signed and sealed. And now you got the US-Mexico trade going through the senate. So I think the optimism surrounding the demand is rising exponentially right now," said Phil Flynn, an analyst at Price Futures Group in Chicago. The oil benchmark prices were also supported by a report from the Federal Reserve Bank of Philadelphia showing strong manufacturing activity in the US Mid-Atlantic region and as Wall Street stock indexes scaled new records. The S&P 500 touched a record high. Price gains were capped earlier as the International Energy Agency (IEA) said it expected oil production to outpace demand for crude from the Organization of the Petroleum Exporting Countries (OPEC), even if members comply fully with a pact with Russia and other non-OPEC allies to curb output. However, Flynn believes the agency may be underestimating the potential demand boost from the US-Mexico trade accord and the US-China trade deal. UBS said in a note "provided Middle East tensions do not intensify and cause production disruptions, Brent should decline toward the bottom of a $60–65 per barrel trading range in 1H20 before recovering to the top of it in the second half of the year".

Oil ends higher as trade deals progress; spurs energy demand hopes

Equity benchmark indices erased opening gains and continued to slide throughout the session on Monday due to profit booking as concerns over a cut in supply from Libya sent oil prices higher.

Except for Nifty FMCG and realty, all sectoral indices at the National Stock Exchange (NSE) were in the red with Nifty bank down by 1.56 per cent. Among stocks, Kotak Mahindra Bank lost by 4.78 per cent at Rs 1,617 per share.

The private sector lender said its standalone profit after tax for Q3 FY20 increased to Rs 1,596 crore from 1,291 crore in Q3 FY19, up 24 per cent, but asset quality weakened sequentially. Indian Oil Corporation fell by 4.08 per cent while index heavyweight Reliance Industries dropped by 3.09 per cent to Rs 1,532.20 per share.

The other prominent losers were Coal India, NTPC, Tata Consultancy Services, Adani Ports, Axis Bank and Bajaj Finance. Meanwhile, Asian shares traded higher as Wall Street extended its run of record peaks on solid US economic data. Japan`s Nikkei added 0.18 per cent while the Shanghai Composite was up by 0.66 per cent and South Korea`s Kospi by 0.54 per cent.&nbsp;

The Hang Seng index slipped fractionally by 0.9 per cent. However, prices jumped as oilfields in southwest Libya began shutting down after forces loyal to Khalifa Haftar closed a pipeline, potentially reducing national output to a fraction of its normal level.

Equity benchmark indices erased opening gains and continued to slide throughout the session on Monday due to profit booking as concerns over a cut in supply from Libya sent oil prices higher.

Equity benchmark indices erased opening gains and continued to slide throughout the session on Monday due to profit booking as concerns over a cut in supply from Libya sent oil prices higher. Except for Nifty FMCG and realty, all sectoral indices at the National Stock Exchange (NSE) were in the red with Nifty bank down by 1.56 per cent. Among stocks, Kotak Mahindra Bank lost by 4.78 per cent at Rs 1,617 per share. The private sector lender said its standalone profit after tax for Q3 FY20 increased to Rs 1,596 crore from 1,291 crore in Q3 FY19, up 24 per cent, but asset quality weakened sequentially. Indian Oil Corporation fell by 4.08 per cent while index heavyweight Reliance Industries dropped by 3.09 per cent to Rs 1,532.20 per share. The other prominent losers were Coal India, NTPC, Tata Consultancy Services, Adani Ports, Axis Bank and Bajaj Finance. Meanwhile, Asian shares traded higher as Wall Street extended its run of record peaks on solid US economic data. Japan`s Nikkei added 0.18 per cent while the Shanghai Composite was up by 0.66 per cent and South Korea`s Kospi by 0.54 per cent. The Hang Seng index slipped fractionally by 0.9 per cent. However, prices jumped as oilfields in southwest Libya began shutting down after forces loyal to Khalifa Haftar closed a pipeline, potentially reducing national output to a fraction of its normal level.

Amid concerns over oil supply from Libya, Sensex tumbles 416 points

US&nbsp;President Donald Trump and Chinese Vice Premier Liu He signed a <a href="https://www.wionews.com/opinions-blogs/us-china-trade-deal-what-were-the-key-issues-and-are-they-resolved-275073">Phase 1&nbsp;deal</a>&nbsp;that will roll back some tariffs and see China boost purchases of US&nbsp;goods and services, defusing a prolonged conflict between the world's two largest economies.

Liu said in remarks at the White House that the <a href="https://www.wionews.com/business-economy/nifty-sensex-settle-near-record-highs-after-us-china-trade-deal-274867">United States and China</a> need to step up cooperation and that the&nbsp;deal&nbsp;benefits both countries and the world. The&nbsp;deal&nbsp;capped an 18-month dispute that had roiled&nbsp;markets.

The centrepiece of the&nbsp;deal&nbsp;is a pledge by China to purchase at least an additional $200 billion worth of US&nbsp; farm products and other goods and services over two years, over a baseline of $186 billion in purchases in 2017.

Key world equity indexes&nbsp;climbed to&nbsp;new&nbsp;records on Wednesday on hopes a US-China&nbsp;trade&nbsp;deal&nbsp;will <a href="https://www.wionews.com/opinions-blogs/us-china-trade-pact-fails-to-resolve-three-fundamental-issues-274848">reduce harmful tensions</a>, but&nbsp;oil&nbsp;prices slid on doubts the pact will spur world growth and boost crude&nbsp;demand.

<img alt="Stock Exchange" data-entity-type="file" data-entity-uuid="745cf3ce-50b4-48b1-8998-5f886a9a8990" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20-%202020-01-20T183634.573.jpg" /> 
[&nbsp;Traders work on the floor at the&nbsp;New&nbsp;York Stock Exchange (Courtesy: Reuters) ]

MSCI's all-world stock index and the three major indexes on Wall Street set record intraday highs. The MSCI benchmark, along with the Dow and S&amp;P 500, also posted record closing highs, while the Dow closed above the 29,000 mark for the first time.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/china-will-increase-imports-from-us-according-to-market-principles-official-275252">China will increase imports from US according to 'market principles': Official</a>

The&nbsp;deal&nbsp;is unlikely to significantly change the growth outlook, but it should allow companies to make the capital investments they have not, which is positive, said Marvin Loh, senior&nbsp;global&nbsp;macro strategist at State Street&nbsp;Global&nbsp;Markets.

"What's most important to investors is a potential de-escalation and signs that de-escalation will continue this year, which is the outlook period for a lot of investors," he said.

"If we can somehow take this out as one of the bigger risks that we had all last year, it does give some confidence to the market. Not necessarily from an economic but from a risk parameter perspective," Loh said.

MSCI's gauge of&nbsp;stocks&nbsp;across the globe gained 0.07%. Earlier in Europe, the pan-regional STOXX 600 index closed up 0.1% while MSCI's broadest measure of Asia-Pacific&nbsp;markets&nbsp;outside Japan closed down 0.35%. Japan's Nikkei lost 0.45%.

On Wall Street, the Dow Jones Industrial Average rose 90.55 points, or 0.31%, to 29,030.22. The S&amp;P 500 &nbsp;gained 6.14 points, or 0.19%, to 3,289.29 and the Nasdaq Composite added 7.37 points, or 0.08%, to 9,258.70.

Emerging market&nbsp;stocks&nbsp;lost 0.53%.

Oil&nbsp;prices slipped on concerns the&nbsp;trade&nbsp;agreement may not provide much of a&nbsp;demand&nbsp;boost because the United States intends to keep tariffs on Chinese goods until a Phase 2&nbsp;deal&nbsp;is reached.

Prices were also under pressure from a report by the Organization of Petroleum Exporting Countries. OPEC expects lower&nbsp;demand&nbsp;for its&nbsp;oil&nbsp;in 2020 even as&nbsp;global&nbsp;demand&nbsp;rises, as rival producers grab market share and the United States looks set for another output record.

Brent crude fell 49 cents to settle at $64.00 a barrel. US&nbsp;West Texas Intermediate crude futures settled down 42 cents at $57.81 a barrel.

The dollar pared losses but remained lower against the euro and the yen after the signing of a&nbsp;trade&nbsp;deal&nbsp;that may prove a mild negative for the greenback as it removes uncertainty.

The dollar index, tracking the unit against six major peers, fell 0.14%, with the euro up 0.18% to $1.1147.

US&nbsp;Treasury yields declined as investors repositioned around&nbsp;new&nbsp;data showing producer prices barely rose in December.

A rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to stand pat on interest rates this year.

Benchmark 10-year notes last rose 9/32 in price to push its yield lower to 1.7864%.

In Europe, investors flocked to&nbsp;new&nbsp;fundraisings by Italy and Belgium a day after Spain saw record&nbsp;demand.

The 10-year German bond yield fell 3 basis points to -0.201%, not too far from the more than six-month highs of -0.157% touched at the start of January.

US&nbsp;gold futures settled up 0.6% at $1,554 an ounce.

US President Donald Trump and Chinese Vice Premier Liu He signed a Phase 1 deal that will roll back some tariffs and see China boost purchases of US goods and services, defusing a prolonged conflict between the world's two largest economies.

US President Donald Trump and Chinese Vice Premier Liu He signed a Phase 1 deal that will roll back some tariffs and see China boost purchases of US goods and services, defusing a prolonged conflict between the world's two largest economies. Liu said in remarks at the White House that the United States and China need to step up cooperation and that the deal benefits both countries and the world. The deal capped an 18-month dispute that had roiled markets. The centrepiece of the deal is a pledge by China to purchase at least an additional $200 billion worth of US farm products and other goods and services over two years, over a baseline of $186 billion in purchases in 2017. Key world equity indexes climbed to new records on Wednesday on hopes a US-China trade deal will reduce harmful tensions, but oil prices slid on doubts the pact will spur world growth and boost crude demand. [ Traders work on the floor at the New York Stock Exchange (Courtesy: Reuters) ] MSCI's all-world stock index and the three major indexes on Wall Street set record intraday highs. The MSCI benchmark, along with the Dow and S&P 500, also posted record closing highs, while the Dow closed above the 29,000 mark for the first time. Also Read: China will increase imports from US according to 'market principles': Official The deal is unlikely to significantly change the growth outlook, but it should allow companies to make the capital investments they have not, which is positive, said Marvin Loh, senior global macro strategist at State Street Global Markets. "What's most important to investors is a potential de-escalation and signs that de-escalation will continue this year, which is the outlook period for a lot of investors," he said. "If we can somehow take this out as one of the bigger risks that we had all last year, it does give some confidence to the market. Not necessarily from an economic but from a risk parameter perspective," Loh said. MSCI's gauge of stocks across the globe gained 0.07%. Earlier in Europe, the pan-regional STOXX 600 index closed up 0.1% while MSCI's broadest measure of Asia-Pacific markets outside Japan closed down 0.35%. Japan's Nikkei lost 0.45%. On Wall Street, the Dow Jones Industrial Average rose 90.55 points, or 0.31%, to 29,030.22. The S&P 500 gained 6.14 points, or 0.19%, to 3,289.29 and the Nasdaq Composite added 7.37 points, or 0.08%, to 9,258.70. Emerging market stocks lost 0.53%. Oil prices slipped on concerns the trade agreement may not provide much of a demand boost because the United States intends to keep tariffs on Chinese goods until a Phase 2 deal is reached. Prices were also under pressure from a report by the Organization of Petroleum Exporting Countries. OPEC expects lower demand for its oil in 2020 even as global demand rises, as rival producers grab market share and the United States looks set for another output record. Brent crude fell 49 cents to settle at $64.00 a barrel. US West Texas Intermediate crude futures settled down 42 cents at $57.81 a barrel. The dollar pared losses but remained lower against the euro and the yen after the signing of a trade deal that may prove a mild negative for the greenback as it removes uncertainty. The dollar index, tracking the unit against six major peers, fell 0.14%, with the euro up 0.18% to $1.1147. US Treasury yields declined as investors repositioned around new data showing producer prices barely rose in December. A rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to stand pat on interest rates this year. Benchmark 10-year notes last rose 9/32 in price to push its yield lower to 1.7864%. In Europe, investors flocked to new fundraisings by Italy and Belgium a day after Spain saw record demand. The 10-year German bond yield fell 3 basis points to -0.201%, not too far from the more than six-month highs of -0.157% touched at the start of January. US gold futures settled up 0.6% at $1,554 an ounce.

US stocks climb to new peak after trade deal

Hong Kong's reputation as a global business hub was dealt a fresh blow Monday after Moody's downgraded a key rating, blaming a lack of government response to months of popular protests and China's increased influence over the city's institutions.

<a href="https://www.wionews.com/world/hong-kong-police-officers-were-beaten-by-protesters-in-rally-275261">Also Read:&nbsp;Protesters rally, thrash police officers in Hong Kong</a>

The rating downgrade is a major blow to Hong Kong's pro-Beijing leader Carrie Lam, who has struggled to end more than seven months of huge and often violent pro-democracy protests.

It also reflects growing concern within the business community that the institutional features that give Hong Kong more political and economic autonomy are weakening under pressure from the authoritarian mainland.

In a statement explaining its decision to downgrade the long-term issuer and senior unsecured ratings one notch to Aa3, Moody's delivered a blunt assessment of the government's response to the protests.

"The absence of tangible plans to address either the political or economic and social concerns of the Hong Kong population that have come to the fore in the past nine months may reflect weaker inherent institutional capacity than Moody's had previously assessed," the New York-based credit rating agency said.

It described the government's response to demands for greater political freedoms -- and sky-high living costs -- as "notably slow, tentative and inconclusive".

"It may also point to more significant constraints on the autonomy of Hong Kong's institutions than previously thought," the agency added, in a nod to pressure from Beijing.

Months of political unrest has upended Hong Kong's reputation for stability while the protests present the most severe challenge to Beijing's rule since the former British colony's 1997 handover to China.

Millions of pro-democracy supporters have taken to Hong Kong's streets with clashes between hardcore protesters and police frequently breaking out.

Combined with the fallout of the US-China trade war, the protests have slammed the tourist and retail sectors and helped tip Hong Kong into a recession.

The protests were initially sparked by a proposed law allowing extraditions to the authoritarian mainland where the opaque judicial system answers to the Communist Party.

Opponents saw it as the latest move by Beijing to chip away at the city's unique freedoms, such as its independent judicial system.

But as Beijing and Lam dug in, the movement morphed into a broader campaign calling for democratic reforms and police accountability.

The extradition law was eventually abandoned, but Beijing has refused further concessions and thrown its full support behind Lam.

Among the key demands of the movement are an inquiry into the police, an amnesty for the thousands arrested and fully free elections.

Moody's decision comes four months after Fitch downgraded the city's sovereign rating, citing ongoing protests and uncertainty caused by closer integration with the Chinese mainland.

It was the first time the agency had downgraded Hong Kong since 1995 when fears about the city's future following its handover to China were at their peak.

Moody's changed Hong Kong's outlook from stable to negative in September after Fitch's move but did not follow suit on a ratings downgrade.

It the statement announcing Monday's downgrade, Moody's moved Hong Kong's outlook back to stable, noting the city's large fiscal reserves, minimal debt burden and ample foreign exchange reserves.

But it warned "closer institutional integration between Hong Kong and China" could contribute to further downgrades in the future.

Hong Kong's reputation as a global business hub was dealt a fresh blow Monday after Moody's downgraded a key rating, blaming a lack of government response to months of popular protests and China's increased influence over the city's institutions.

Hong Kong's reputation as a global business hub was dealt a fresh blow Monday after Moody's downgraded a key rating, blaming a lack of government response to months of popular protests and China's increased influence over the city's institutions. Also Read: Protesters rally, thrash police officers in Hong Kong The rating downgrade is a major blow to Hong Kong's pro-Beijing leader Carrie Lam, who has struggled to end more than seven months of huge and often violent pro-democracy protests. It also reflects growing concern within the business community that the institutional features that give Hong Kong more political and economic autonomy are weakening under pressure from the authoritarian mainland. In a statement explaining its decision to downgrade the long-term issuer and senior unsecured ratings one notch to Aa3, Moody's delivered a blunt assessment of the government's response to the protests. "The absence of tangible plans to address either the political or economic and social concerns of the Hong Kong population that have come to the fore in the past nine months may reflect weaker inherent institutional capacity than Moody's had previously assessed," the New York-based credit rating agency said. It described the government's response to demands for greater political freedoms -- and sky-high living costs -- as "notably slow, tentative and inconclusive". "It may also point to more significant constraints on the autonomy of Hong Kong's institutions than previously thought," the agency added, in a nod to pressure from Beijing. Months of political unrest has upended Hong Kong's reputation for stability while the protests present the most severe challenge to Beijing's rule since the former British colony's 1997 handover to China. Millions of pro-democracy supporters have taken to Hong Kong's streets with clashes between hardcore protesters and police frequently breaking out. Combined with the fallout of the US-China trade war, the protests have slammed the tourist and retail sectors and helped tip Hong Kong into a recession. The protests were initially sparked by a proposed law allowing extraditions to the authoritarian mainland where the opaque judicial system answers to the Communist Party. Opponents saw it as the latest move by Beijing to chip away at the city's unique freedoms, such as its independent judicial system. But as Beijing and Lam dug in, the movement morphed into a broader campaign calling for democratic reforms and police accountability. The extradition law was eventually abandoned, but Beijing has refused further concessions and thrown its full support behind Lam. Among the key demands of the movement are an inquiry into the police, an amnesty for the thousands arrested and fully free elections. Moody's decision comes four months after Fitch downgraded the city's sovereign rating, citing ongoing protests and uncertainty caused by closer integration with the Chinese mainland. It was the first time the agency had downgraded Hong Kong since 1995 when fears about the city's future following its handover to China were at their peak. Moody's changed Hong Kong's outlook from stable to negative in September after Fitch's move but did not follow suit on a ratings downgrade. It the statement announcing Monday's downgrade, Moody's moved Hong Kong's outlook back to stable, noting the city's large fiscal reserves, minimal debt burden and ample foreign exchange reserves. But it warned "closer institutional integration between Hong Kong and China" could contribute to further downgrades in the future.

'No tangible plans': Moody's downgrades protest-hit Hong Kong

The<a href="https://www.wionews.com/opinions/wion-edit-summarising-the-state-of-indian-economy-274415"> International Monetary Fund </a>on Monday slashed its 2020 global growth forecast&nbsp;due to the&nbsp;slowdown&nbsp;in India and other emerging markets.&nbsp;

The sharp drop for India "accounts for the lion's share of the downward revisions," the IMF said.

However, it said that improving <a href="https://www.wionews.com/opinions/explained-how-us-iran-tensions-impact-the-economy-273030">US-China trade tensions </a>have eased uncertainty and the world economy may have hit bottom but a sharp slowdown in India is creating a drag worldwide, the IMF said.

In the latest update to the World Economic Outlook, the IMF trimmed down the global growth estimate for 2020 by one-tenth compared to the October report, dropping it to 3.3 per cent, and lowered the 2021 forecast by a bit more, to 3.4 per cent.

The reductions reflect the IMF's reassessment of economic prospects for a number of major emerging markets, notably India, where domestic demand has slowed&nbsp;sharply amid contraction of credit and stress in the non-banking sector.

<a href="https://www.wionews.com/india-news/india-to-surpass-germany-and-japan-to-become-worlds-third-largest-economy-by-2034-271033">Also read: India to surpass Germany and Japan to become world's third largest economy by 2034</a>

India saw a sharp, 1.2 percentage point cut to its 2020 growth forecast to 5.8 per cent, the IMF's biggest markdown for any emerging market, because of the domestic credit crunch.&nbsp;

Gravitas: Summarising the state of the Indian economy

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-summarising-the-state-of-the-indian-economy-274293/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The IMF also downgraded other economies&nbsp;including Chile, which has been hit by social unrest. It said that Mexico will grow just 1.0 per cent&nbsp;in 2020, down from 1.3 per cent&nbsp;forecast in October.

Meanwhile, the IMF upgraded China's 2020 growth forecast by 0.2 percentage point to 6.0% because the US trade deal included a partial tariff reduction and cancelled tariffs on Chinese consumer goods that had been scheduled for December. These tariffs had been built into the IMF's previous forecasts.

But the Fund did not give a boost to its US growth forecast for China's pledges to increase purchases of US goods and services by $200 billion over two years. Instead, the IMF said 2020 US growth would be 0.1 percentage point lower than forecast in October, at 2.0% because of the fading stimulus effects from 2017 tax cuts and the Federal Reserve's monetary easing.

(With inputs from agencies)

&nbsp;

The International Monetary Fund on Monday slashed its 2020 global growth forecast due to the slowdown in India and other emerging markets. The sharp drop for India "accounts for the lion's share of the downward revisions," the IMF said.

The International Monetary Fund on Monday slashed its 2020 global growth forecast due to the slowdown in India and other emerging markets. The sharp drop for India "accounts for the lion's share of the downward revisions," the IMF said. However, it said that improving US-China trade tensions have eased uncertainty and the world economy may have hit bottom but a sharp slowdown in India is creating a drag worldwide, the IMF said. In the latest update to the World Economic Outlook, the IMF trimmed down the global growth estimate for 2020 by one-tenth compared to the October report, dropping it to 3.3 per cent, and lowered the 2021 forecast by a bit more, to 3.4 per cent. The reductions reflect the IMF's reassessment of economic prospects for a number of major emerging markets, notably India, where domestic demand has slowed sharply amid contraction of credit and stress in the non-banking sector. Also read: India to surpass Germany and Japan to become world's third largest economy by 2034 India saw a sharp, 1.2 percentage point cut to its 2020 growth forecast to 5.8 per cent, the IMF's biggest markdown for any emerging market, because of the domestic credit crunch. Gravitas: Summarising the state of the Indian economy × The IMF also downgraded other economies including Chile, which has been hit by social unrest. It said that Mexico will grow just 1.0 per cent in 2020, down from 1.3 per cent forecast in October. Meanwhile, the IMF upgraded China's 2020 growth forecast by 0.2 percentage point to 6.0% because the US trade deal included a partial tariff reduction and cancelled tariffs on Chinese consumer goods that had been scheduled for December. These tariffs had been built into the IMF's previous forecasts. But the Fund did not give a boost to its US growth forecast for China's pledges to increase purchases of US goods and services by $200 billion over two years. Instead, the IMF said 2020 US growth would be 0.1 percentage point lower than forecast in October, at 2.0% because of the fading stimulus effects from 2017 tax cuts and the Federal Reserve's monetary easing. (With inputs from agencies)

Sharp slowdown in India drag on world economy, says IMF

To reduce its fiscal deficit, the <a href="http://13.235.153.162/world/us-space-force-unveils-camouflage-uniform-gets-trolled-on-twitter-275237">US</a> government bringing back a bond it had last issued in 1986.

After contemplating its options, the US treasury decided that it will issue a new 20-year bond within the first six months of 2020.

The <a href="http://13.235.153.162/world/us-treasury-slaps-punitive-sanctions-on-turkeys-defence-minister-255960">US treasury</a> will evaluate the feedback of this bond and will meanwhile consider whether to issue 50-year and 100-year bonds or not.

''Our goal is to finance the government with the least possible burden on the taxpayers. For this purpose, we are assessing our potential options,'' said &nbsp;<a href="http://13.235.153.162/world/us-treasury-secretary-mnuchin-says-trade-deal-with-china-to-boost-global-economy-268327">Steven Mnuchin</a>, Treasury Secretary.

Also read:&nbsp;<a href="http://13.235.153.162/business-economy/us-industrial-output-fell-1-in-december-last-year-compared-to-2018-federal-reserve-274933">US industrial output fell 1% in December last year compared to 2018: Federal Reserve</a>

What is <a href="http://13.235.153.162/business-economy/india-to-miss-fiscal-deficit-target-by-30-50-basic-points-report-256454">fiscal deficit</a>?

It is the difference between total revenue and total expenditure of the government.

Why are these bonds are being issued?

The US government needs to return some debts issued to finance corporate tax cut and the tax reforms in 2017.

''To meet these needs, its treasury needs a new reliable source and its other options are long-dated,'' said Mark Cabana, the head of US interest rates strategy at <a href="http://13.235.153.162/business-economy/fears-of-earnings-recession-keep-investors-away-from-stocks-bank-of-america-merrill-lynch-240172">Bank of America</a>.

These bonds will attract insurance companies that need to manage the liabilities of a longer-term.&nbsp;

They can also help the government fund its infrastructure expenditure or another round of tax cuts.

To reduce its fiscal deficit, the US government bringing back a bond it had last issued in 1986. After contemplating its options, the US treasury decided that it will issue a new 20-year bond within the first six months of 2020.

To reduce its fiscal deficit, the US government bringing back a bond it had last issued in 1986. After contemplating its options, the US treasury decided that it will issue a new 20-year bond within the first six months of 2020. The US treasury will evaluate the feedback of this bond and will meanwhile consider whether to issue 50-year and 100-year bonds or not. ''Our goal is to finance the government with the least possible burden on the taxpayers. For this purpose, we are assessing our potential options,'' said Steven Mnuchin, Treasury Secretary. Also read: US industrial output fell 1% in December last year compared to 2018: Federal Reserve What is fiscal deficit? It is the difference between total revenue and total expenditure of the government. Why are these bonds are being issued? The US government needs to return some debts issued to finance corporate tax cut and the tax reforms in 2017. ''To meet these needs, its treasury needs a new reliable source and its other options are long-dated,'' said Mark Cabana, the head of US interest rates strategy at Bank of America. These bonds will attract insurance companies that need to manage the liabilities of a longer-term. They can also help the government fund its infrastructure expenditure or another round of tax cuts.

US brings back a bond it last issued in 1986 to decrease fiscal deficit

Thousands of tonnes of&nbsp;refined&nbsp;palm&nbsp;oil&nbsp;are delayed or&nbsp;stuck&nbsp;at various&nbsp;Indian&nbsp;ports&nbsp;after&nbsp;the world's biggest edible&nbsp;oil&nbsp;buyer placed restrictions on imports&nbsp;amid a diplomatic row with key supplier Malaysia, multiple&nbsp;sources&nbsp;told Reuters.

India announced the&nbsp;curbs&nbsp;on imports&nbsp;of&nbsp;refined&nbsp;palm&nbsp;oil&nbsp;on January&nbsp;8 in a bid to help domestic refiners raise their plant utilisation rates, according to industry officials familiar with the matter. In a typical year, India relies on imports&nbsp;for almost all of its supply of the vegoil&nbsp;used in everything from soap to cookies.

But Malaysia, the world's second-biggest producer and exporter of&nbsp;<a href="https://www.wionews.com/business-economy/india-puts-curbs-on-palm-oil-imports-from-malaysia-following-pm-mahathir-mohamad-caa-remark-273134">palm&nbsp;oil</a>, has publicly bridled at New Delhi's move even as India has stepped up orders from Indonesia, according to Refinitiv data. India has been its biggest market for the last five years, and the row sent benchmark Malaysian&nbsp;palm&nbsp;futures to their worst weekly fall in more than 11 years on Friday.

"More than 30,000 tonnes have been&nbsp;stuck&nbsp;at various (Indian)&nbsp;ports. All these vessels were loaded before the government restricted imports&nbsp;of&nbsp;refined&nbsp;palm&nbsp;oil," said a Mumbai-based vegetable&nbsp;oil&nbsp;dealer, who declined to be named citing company policy.

"Usually customs officials allow unloading of commodities that are in transit before any change in regulation. But in the case of&nbsp;refined&nbsp;palm&nbsp;oil, there is some confusion and that is leading to delays."

A source in New Delhi with direct knowledge of the matter said the restrictions mean&nbsp;importers will need a license to buy, a tool that could be used to deny or delay shipments from Malaysia. The person declined to be identified citing the sensitivity of the matter.

Another vegetable&nbsp;oil&nbsp;importer said some vessels were&nbsp;stuck&nbsp;at Kolkata port in eastern India, with some others on the west coast. In one incident at Mangalore port on the west coast, crude&nbsp;palm&nbsp;oil&nbsp;was unloaded from a vessel, while&nbsp;refined&nbsp;oil&nbsp;was not permitted ashore, said the&nbsp;importer, who also declined to be named citing the sensitive nature of the situation.

Reuters could not ascertain which vessels contained the&nbsp;cargoes&nbsp;that have been held up at Kolkata and Mangalore, nor who the buyers were. A source in <a href="https://www.wionews.com/business-economy/india-palm-import-curbs-to-start-malaysia-indonesia-price-war-souces-273149">Kuala Lumpur</a>, who requested anonymity citing the sensitivity of the matter, said the&nbsp;refined&nbsp;palm&nbsp;oil&nbsp;was from both Indonesia and Malaysia.

Officials at Kolkata and Mangalore&nbsp;ports&nbsp;did not immediately respond&nbsp;to an&nbsp;email&nbsp;seeking comment.

Malaysia's Sime Darby Plantation, the world's largest&nbsp;oil&nbsp;palm&nbsp;planter by land size, said none of its&nbsp;refined&nbsp;palm&nbsp;oil&nbsp;was&nbsp;stuck&nbsp;at&nbsp;Indian&nbsp;ports. The company, which has operations in both Malaysia and Indonesia, exported more than 436,000 tonnes of&nbsp;refined&nbsp;palm&nbsp;oil&nbsp;to India last year.

Sudhakar Desai, president of&nbsp;Indian&nbsp;Vegetable&nbsp;Oil&nbsp;Producers' Association, said&nbsp;refined&nbsp;palm&nbsp;cargoes&nbsp;that reached before the restrictions were placed had been cleared but none&nbsp;after&nbsp;that.

"We don't think any licenses have been issued for any origin," Desai said.

A spokeswoman for India's trade ministry did not immediately respond to an email from Reuters seeking comment.

Thousands of tonnes of refined palm oil are delayed or stuck at various Indian ports after the world's biggest edible oil buyer placed restrictions on imports amid a diplomatic row with key supplier Malaysia, multiple sources told Reuters.

Thousands of tonnes of refined palm oil are delayed or stuck at various Indian ports after the world's biggest edible oil buyer placed restrictions on imports amid a diplomatic row with key supplier Malaysia, multiple sources told Reuters. India announced the curbs on imports of refined palm oil on January 8 in a bid to help domestic refiners raise their plant utilisation rates, according to industry officials familiar with the matter. In a typical year, India relies on imports for almost all of its supply of the vegoil used in everything from soap to cookies. But Malaysia, the world's second-biggest producer and exporter of palm oil, has publicly bridled at New Delhi's move even as India has stepped up orders from Indonesia, according to Refinitiv data. India has been its biggest market for the last five years, and the row sent benchmark Malaysian palm futures to their worst weekly fall in more than 11 years on Friday. "More than 30,000 tonnes have been stuck at various (Indian) ports. All these vessels were loaded before the government restricted imports of refined palm oil," said a Mumbai-based vegetable oil dealer, who declined to be named citing company policy. "Usually customs officials allow unloading of commodities that are in transit before any change in regulation. But in the case of refined palm oil, there is some confusion and that is leading to delays." A source in New Delhi with direct knowledge of the matter said the restrictions mean importers will need a license to buy, a tool that could be used to deny or delay shipments from Malaysia. The person declined to be identified citing the sensitivity of the matter. Another vegetable oil importer said some vessels were stuck at Kolkata port in eastern India, with some others on the west coast. In one incident at Mangalore port on the west coast, crude palm oil was unloaded from a vessel, while refined oil was not permitted ashore, said the importer, who also declined to be named citing the sensitive nature of the situation. Reuters could not ascertain which vessels contained the cargoes that have been held up at Kolkata and Mangalore, nor who the buyers were. A source in Kuala Lumpur, who requested anonymity citing the sensitivity of the matter, said the refined palm oil was from both Indonesia and Malaysia. Officials at Kolkata and Mangalore ports did not immediately respond to an email seeking comment. Malaysia's Sime Darby Plantation, the world's largest oil palm planter by land size, said none of its refined palm oil was stuck at Indian ports. The company, which has operations in both Malaysia and Indonesia, exported more than 436,000 tonnes of refined palm oil to India last year. Sudhakar Desai, president of Indian Vegetable Oil Producers' Association, said refined palm cargoes that reached before the restrictions were placed had been cleared but none after that. "We don't think any licenses have been issued for any origin," Desai said. A spokeswoman for India's trade ministry did not immediately respond to an email from Reuters seeking comment.

Refined palm oil cargoes stuck at Indian ports after import curbs: Sources

India, the world's third-biggest oil consumer, imports about 84% of its <a href="https://www.wionews.com/business-economy/as-wider-trade-dispute-looms-malaysia-talks-to-india-over-palm-curbs-274679">oil needs</a> and traditionally relies on the Middle East for the majority of its supply.

However, the region's share of India's crude shrank to 60% last year - down from 65% a year ago and the lowest since 2015 - as record output from the United States and countries like Russia offered opportunities for importers to tap other sources.

India shipped in 2.68 million barrels per day (BPD) oil from the Middle East in 2019, down about 10% from 2018, and around 1.8 million BPD from elsewhere.

Deeper than expected oil output cuts by OPEC and allies, shouldered by Saudi Arabia, and less supply from Iran due to US&nbsp;sanctions also dented India's intake of Middle Eastern oil, said Ehsan Ul Haq, analyst with Refinitiv.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/indias-november-oil-import-growth-fastest-in-seven-months-sources-270035">India's November oil import growth fastest in seven months</a>

Last year, sanctions and output cuts by OPEC and allies, known as OPEC+, reduced the group's supplies by 1.9 million BPD from 2018, while non-OPEC supply rose by 2 million BPD, the International Energy Agency said in its latest report.

<img alt="India Oil Imports" data-entity-type="file" data-entity-uuid="40d5237f-e21c-4fa3-892f-ff132917e3af" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20-%202020-01-20T123546.747.jpg" /> 
[&nbsp;boy walks past an oil tanker train stationed at a railway station in Ghaziabad, Courtesy: Reuters) ]

The IEA forecast that producers outside the OPEC+ pact would grow supplies by 2.1 million BPD in 2020.

India is working on a strategy to diversify its oil supply sources to cut dependence on the Middle East, Oil Minister Dharmendra Pradhan said last week, adding that some refiners are in advance negotiations to boost Russian oil imports.

<img alt="Oil imports low" data-entity-type="file" data-entity-uuid="a431b9c8-7ba0-45fd-902e-0f558d54f055" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20-%202020-01-20T123522.599.jpg" /> 
[&nbsp;India's oil imports from Middle East fall to four-year-low in 2019 (Courtesy: Reuters) ]

The drive to expand crude sources also reflects a push by Prime Minister Narendra Modi to bolster ties with countries like Russia and the United States.

India's overall <a href="https://www.wionews.com/business-economy/as-palm-row-simmers-india-says-no-meeting-with-malaysia-in-davos-275314">oil imports</a> in 2019 fell by about 2.1% to 4.48 million BPD, the data showed because most refiners temporarily shut processing units for upgrades ahead of new fuel standards in 2020. India is migrating to Euro VI-compliant fuel from April 1.

Imports from CIS nations rose in 2019 by about 65% to 171,000 BPD, the data showed. Intake of African grades rose by 7.3% to about 713,000 BPD, while US&nbsp;supplies surged by about 63% to 181,000 BPD.

US&nbsp;oil accounted for about 4% of India's overall imports in 2019, up from just 2.5% a year earlier.

"The opening of an arbitrage window for US&nbsp;oil during the year changed oil flows. The differential was enough to take care of shipping," said Haq.

Demand for heavy Middle Eastern grades was also affected by a shift in bunker fuel specifications from January, following new industry rules promoting lower sulphur fuels.

"Most Middle Eastern grades yield high sulphur fuel oil (HSFO) and because of new marine fuel norms, refiners are buying more from other producers to cut production of HSFO and increase the output of very low sulphur fuel oil," Haq added.

India, the world's third-biggest oil consumer, imports about 84% of its oil needs and traditionally relies on the Middle East for the majority of its supply. However, the region's share of India's crude shrank to 60% last year - down from 65% a year ago and the lowest since 2015 - as record output from the United States and countries like Russia offered opportunities for importers to tap other sources.

India, the world's third-biggest oil consumer, imports about 84% of its oil needs and traditionally relies on the Middle East for the majority of its supply. However, the region's share of India's crude shrank to 60% last year - down from 65% a year ago and the lowest since 2015 - as record output from the United States and countries like Russia offered opportunities for importers to tap other sources. India shipped in 2.68 million barrels per day (BPD) oil from the Middle East in 2019, down about 10% from 2018, and around 1.8 million BPD from elsewhere. Deeper than expected oil output cuts by OPEC and allies, shouldered by Saudi Arabia, and less supply from Iran due to US sanctions also dented India's intake of Middle Eastern oil, said Ehsan Ul Haq, analyst with Refinitiv. Also Read: India's November oil import growth fastest in seven months Last year, sanctions and output cuts by OPEC and allies, known as OPEC+, reduced the group's supplies by 1.9 million BPD from 2018, while non-OPEC supply rose by 2 million BPD, the International Energy Agency said in its latest report. [ boy walks past an oil tanker train stationed at a railway station in Ghaziabad, Courtesy: Reuters) ] The IEA forecast that producers outside the OPEC+ pact would grow supplies by 2.1 million BPD in 2020. India is working on a strategy to diversify its oil supply sources to cut dependence on the Middle East, Oil Minister Dharmendra Pradhan said last week, adding that some refiners are in advance negotiations to boost Russian oil imports. [ India's oil imports from Middle East fall to four-year-low in 2019 (Courtesy: Reuters) ] The drive to expand crude sources also reflects a push by Prime Minister Narendra Modi to bolster ties with countries like Russia and the United States. India's overall oil imports in 2019 fell by about 2.1% to 4.48 million BPD, the data showed because most refiners temporarily shut processing units for upgrades ahead of new fuel standards in 2020. India is migrating to Euro VI-compliant fuel from April 1. Imports from CIS nations rose in 2019 by about 65% to 171,000 BPD, the data showed. Intake of African grades rose by 7.3% to about 713,000 BPD, while US supplies surged by about 63% to 181,000 BPD. US oil accounted for about 4% of India's overall imports in 2019, up from just 2.5% a year earlier. "The opening of an arbitrage window for US oil during the year changed oil flows. The differential was enough to take care of shipping," said Haq. Demand for heavy Middle Eastern grades was also affected by a shift in bunker fuel specifications from January, following new industry rules promoting lower sulphur fuels. "Most Middle Eastern grades yield high sulphur fuel oil (HSFO) and because of new marine fuel norms, refiners are buying more from other producers to cut production of HSFO and increase the output of very low sulphur fuel oil," Haq added.

Slippery Slope: India's Imports from Middle East at four year low

India's trade minister will not meet with his Malaysian counterpart in Davos next week because of his tight schedule, an Indian trade ministry official said on Sunday, as a spat simmers between the <a href="https://www.wionews.com/india-news/malaysian-pm-expresses-concern-after-india-puts-curbs-on-palm-oil-imports-274231">top buyer of palm oil and its biggest supplier</a>.

Hindu-majority India has repeatedly objected to Malaysian Prime Minister Mahathir Mohamad speaking out against a new citizenship law which critics say discriminate against Muslims.

Malaysia, a Muslim-majority nation, is the second biggest producer and exporter of palm oil and India's restrictions on the refined variety of the commodity imposed last week have been seen as a <a href="https://www.wionews.com/business-economy/india-puts-curbs-on-palm-oil-imports-from-malaysia-following-pm-mahathir-mohamad-caa-remark-273134">retaliation for Mahathir's criticism of New Delhi</a>.

A Malaysian government spokesman said on Friday that trade ministers from India and Malaysia could meet on the sidelines of the World Economic Forum's annual meeting in Davos.

But the Indian trade ministry official, who said he was speaking on behalf of the ministry, said no meeting was planned between India's Piyush Goyal and Malaysia's Darell Leiking.

Also read: <a href="https://www.wionews.com/business-economy/india-palm-import-curbs-to-start-malaysia-indonesia-price-war-souces-273149">India palm import curbs to start Malaysia, Indonesia price war</a>

"I can tell you fair and square there's no meeting between the Malaysian minister and the Indian trade minister at Davos," he said, asking not to be named as he was not a government spokesman.

"As part of a larger meeting of trade ministers they may be both together, but there's no meeting. The schedule is already finalised, and it's full."

India last week imposed curbs on refined palm oil, which a source in New Delhi with direct knowledge of the matter said could be used to deny or delay imports from Malaysia. India has been Malaysia's top palm market for five years.

The row dragged benchmark Malaysian palm futures to their biggest weekly decline in more than 11 years on Friday.

Malaysia's Leiking has sent a message to Goyal wishing him well for the Davos meeting, according to the message reviewed by Reuters.

Spokespeople for the trade ministries of India and Malaysia did not immediately respond to queries from Reuters.

Mahathir, the world's oldest premier at 94 and one of the Muslim world's biggest voices, has said he would continue to speak out against "wrong things" even if his words cost his country financially.

"Why is he harming his own country by his erratic actions?" the Indian official said, referring to Mahathir. "The comments he's making are very unprecedented."

Responding to a question on India's new religion-based citizenship law, Mahathir said last month the country was trying to "deprive some Muslims of their citizenship". At the U.N. General Assembly in September, he said India had "invaded and occupied" Kashmir, a disputed Muslim-majority region also claimed by Pakistan.

India's trade minister will not meet with his Malaysian counterpart in Davos next week because of his tight schedule, an Indian trade ministry official said on Sunday, as a spat simmers between the top buyer of palm oil and its biggest supplier.

India's trade minister will not meet with his Malaysian counterpart in Davos next week because of his tight schedule, an Indian trade ministry official said on Sunday, as a spat simmers between the top buyer of palm oil and its biggest supplier. Hindu-majority India has repeatedly objected to Malaysian Prime Minister Mahathir Mohamad speaking out against a new citizenship law which critics say discriminate against Muslims. Malaysia, a Muslim-majority nation, is the second biggest producer and exporter of palm oil and India's restrictions on the refined variety of the commodity imposed last week have been seen as a retaliation for Mahathir's criticism of New Delhi. A Malaysian government spokesman said on Friday that trade ministers from India and Malaysia could meet on the sidelines of the World Economic Forum's annual meeting in Davos. But the Indian trade ministry official, who said he was speaking on behalf of the ministry, said no meeting was planned between India's Piyush Goyal and Malaysia's Darell Leiking. Also read: India palm import curbs to start Malaysia, Indonesia price war "I can tell you fair and square there's no meeting between the Malaysian minister and the Indian trade minister at Davos," he said, asking not to be named as he was not a government spokesman. "As part of a larger meeting of trade ministers they may be both together, but there's no meeting. The schedule is already finalised, and it's full." India last week imposed curbs on refined palm oil, which a source in New Delhi with direct knowledge of the matter said could be used to deny or delay imports from Malaysia. India has been Malaysia's top palm market for five years. The row dragged benchmark Malaysian palm futures to their biggest weekly decline in more than 11 years on Friday. Malaysia's Leiking has sent a message to Goyal wishing him well for the Davos meeting, according to the message reviewed by Reuters. Spokespeople for the trade ministries of India and Malaysia did not immediately respond to queries from Reuters. Mahathir, the world's oldest premier at 94 and one of the Muslim world's biggest voices, has said he would continue to speak out against "wrong things" even if his words cost his country financially. "Why is he harming his own country by his erratic actions?" the Indian official said, referring to Mahathir. "The comments he's making are very unprecedented." Responding to a question on India's new religion-based citizenship law, Mahathir said last month the country was trying to "deprive some Muslims of their citizenship". At the U.N. General Assembly in September, he said India had "invaded and occupied" Kashmir, a disputed Muslim-majority region also claimed by Pakistan.

As palm row simmers, India says no meeting with Malaysia in Davos

The&nbsp;founder&nbsp;of South Korea's sprawling&nbsp;retail&nbsp;conglomerate&nbsp;Lotte&nbsp;Group has died at the age of&nbsp;97, company officials said Sunday.&nbsp;

Shin Kyuk-ho's reputation was tarnished in his final years when the wheelchair-bound tycoon was convicted of professional malpractice and embezzling from the firm to benefit his relatives in late 2017.

He was sentenced to four years in prison but was allowed to stay out of jail on health grounds.&nbsp;

Born in the southern city of Ulsan, Shin stowed away on a ship to Japan at the age of 18 to seek his fortune and established&nbsp;Lotte&nbsp;to manufacture chewing gum in <a href="https://www.wionews.com/world/trump-marks-us-japan-security-pact-with-call-for-stronger-deeper-alliance-275202">Tokyo</a> soon after World War II.

The business later grew to include dozens of subsidiaries in the food,&nbsp;retail, and hotel industries.&nbsp;

Lotte&nbsp;is one of the biggest of the South&nbsp;Korean&nbsp;family-run "chaebol" conglomerates that powered the country's decades of runaway economic growth but which are sometimes accused of murky business practices and overly-close ties with politicians.

Shin's two sons made headlines in 2015 with a bitter public fight for control of the group, each accusing the other of mismanagement, personality flaws, and of manipulating their frail and aged father.

His younger son Dong-bin eventually took over the reins as chairman but both he and Shin were accused of causing $72 million in damages to the group by renting out&nbsp;Lotte&nbsp;Cinema concessions at discounted rates to the&nbsp;founder's eldest daughter and mistress.

The daughter was jailed for two years, while the mistress, a former model and actress 39 years Shin's junior, who came to his attention after winning a beauty pageant was given a suspended sentence.

Shin was also found to have disposed of company assets in violation of his responsibilities as chairman by the presiding judge in his 2017 trial.

He had been suffering from dementia and other diseases of old age before his death, according to South Korea's Yonhap news agency.

The founder of South Korea's sprawling retail conglomerate Lotte Group has died at the age of 97, company officials said Sunday. Shin Kyuk-ho's reputation was tarnished in his final years when the wheelchair-bound tycoon was convicted of professional malpractice and embezzling from the firm to benefit his relatives in late 2017.

The founder of South Korea's sprawling retail conglomerate Lotte Group has died at the age of 97, company officials said Sunday. Shin Kyuk-ho's reputation was tarnished in his final years when the wheelchair-bound tycoon was convicted of professional malpractice and embezzling from the firm to benefit his relatives in late 2017. He was sentenced to four years in prison but was allowed to stay out of jail on health grounds. Born in the southern city of Ulsan, Shin stowed away on a ship to Japan at the age of 18 to seek his fortune and established Lotte to manufacture chewing gum in Tokyo soon after World War II. The business later grew to include dozens of subsidiaries in the food, retail, and hotel industries. Lotte is one of the biggest of the South Korean family-run "chaebol" conglomerates that powered the country's decades of runaway economic growth but which are sometimes accused of murky business practices and overly-close ties with politicians. Shin's two sons made headlines in 2015 with a bitter public fight for control of the group, each accusing the other of mismanagement, personality flaws, and of manipulating their frail and aged father. His younger son Dong-bin eventually took over the reins as chairman but both he and Shin were accused of causing $72 million in damages to the group by renting out Lotte Cinema concessions at discounted rates to the founder's eldest daughter and mistress. The daughter was jailed for two years, while the mistress, a former model and actress 39 years Shin's junior, who came to his attention after winning a beauty pageant was given a suspended sentence. Shin was also found to have disposed of company assets in violation of his responsibilities as chairman by the presiding judge in his 2017 trial. He had been suffering from dementia and other diseases of old age before his death, according to South Korea's Yonhap news agency.

Lotte Group founder Shin Kyuk-ho dies at 97

<a href="https://www.wionews.com/videos/china-myanmar-sign-33-agreements-275157">China </a>will negotiate with American companies and increase imports of <a href="https://www.wionews.com/world/tree-cover-can-lower-daytime-temperatures-in-summer-study-275238">US&nbsp;</a>goods and products according to market principles, an official with its state planner said on Sunday.

The United States has high quality supply in the fields of energy, manufactured goods, agricultural products, medical care and financial services, said Meng Wei, spokesperson for China's National Development and Reform Commission (NDRC), at a press conference on Sunday.

Also read:<a href="https://www.wionews.com/business-economy/indian-markets-scale-a-new-high-after-us-china-phase-one-trade-deal-274665">&nbsp;US-China trade deal: Hits and misses for India</a>

China will boost purchases of US&nbsp;goods and services by $200 billion over two years in exchange for the rolling back of some tariffs under an initial trade deal between the world's two largest economies.

Chinese Vice Premier Liu He, who signed the trade deal with US&nbsp;President <a href="https://www.wionews.com/world/trump-marks-us-japan-security-pact-with-call-for-stronger-deeper-alliance-275202">Donald Trump</a> earlier this week, said the deal would not affect "third parties' interests", apparently in reference to deals made with other suppliers of farm goods.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/kem-chho-trump-us-president-to-visit-ahmedabad-delhi-in-february-275056">'Howdy Trump'? US President to visit Ahmedabad, Delhi in February</a>

Chinese companies will import US&nbsp;agricultural goods according to consumers' need, and demand and supply in the market, Liu told reporters, according to CCTV.

China will negotiate with American companies and increase imports of US goods and products according to market principles, an official with its state planner said on Sunday.

China will negotiate with American companies and increase imports of US goods and products according to market principles, an official with its state planner said on Sunday. The United States has high quality supply in the fields of energy, manufactured goods, agricultural products, medical care and financial services, said Meng Wei, spokesperson for China's National Development and Reform Commission (NDRC), at a press conference on Sunday. Also read: US-China trade deal: Hits and misses for India China will boost purchases of US goods and services by $200 billion over two years in exchange for the rolling back of some tariffs under an initial trade deal between the world's two largest economies. Chinese Vice Premier Liu He, who signed the trade deal with US President Donald Trump earlier this week, said the deal would not affect "third parties' interests", apparently in reference to deals made with other suppliers of farm goods. Also read: 'Howdy Trump'? US President to visit Ahmedabad, Delhi in February Chinese companies will import US agricultural goods according to consumers' need, and demand and supply in the market, Liu told reporters, according to CCTV.

China will increase imports from US according to 'market principles': Official

HDFC Bank Ltd, India's largest private lender, on Saturday posted a nearly 33 per cent jump in standalone net profit for the quarter to December helped by growth in its loans portfolio.

HDFC Bank reported a net profit of 74.16 billion Indian rupees ($1.04 billion) for its third quarter, up from 55.86 billion a year earlier, it said in a regulatory filing.

That topped the 70.59 billion rupees expected by analysts on average, data showed.

Gross bad loans increased to 1.42 per cent of total loans from 1.38 per cent.

The bank's net interest margin (NIM), an indicator of profitability, remained stable at 4.2 per cent.

At a time when the industry has seen subdued loan growth, the bank saw its grow 19.9 per cent.

Deposits grew by 25.2 per cent, the bank said.

The bank remains well capitalised, with a capital adequacy ratio of 18.5 per cent&nbsp;at the end of the quarter, well above the regulatory requirement.

HDFC Bank Ltd, India's largest private lender, on Saturday posted a nearly 33 per cent jump in standalone net profit for the quarter to December helped by growth in its loans portfolio.

HDFC Bank Ltd, India's largest private lender, on Saturday posted a nearly 33 per cent jump in standalone net profit for the quarter to December helped by growth in its loans portfolio. HDFC Bank reported a net profit of 74.16 billion Indian rupees ($1.04 billion) for its third quarter, up from 55.86 billion a year earlier, it said in a regulatory filing. That topped the 70.59 billion rupees expected by analysts on average, data showed. Gross bad loans increased to 1.42 per cent of total loans from 1.38 per cent. The bank's net interest margin (NIM), an indicator of profitability, remained stable at 4.2 per cent. At a time when the industry has seen subdued loan growth, the bank saw its grow 19.9 per cent. Deposits grew by 25.2 per cent, the bank said. The bank remains well capitalised, with a capital adequacy ratio of 18.5 per cent at the end of the quarter, well above the regulatory requirement.

HDFC Bank third-quarter net up 33 per cent on loan growth, beats estimates

Indian oil-to-telecoms conglomerate Reliance Industries Ltd posted another record quarterly profit on Friday, as double-digit growth at its consumer-facing businesses cushioned weakness in its energy divisions.

Revenue at its retail and telecoms units each jumped more than 25 per cent in the December quarter as the company, headed by Asia's richest man, Mukesh Ambani, invests heavily to bring them on par with its dominant petrochemicals and refining businesses.

"We saw consistent same-store sales growth and record footfall across our stores," Ambani said in a statement, with the remarks coming when growth in Asia's third-largest economy has slowed to multi-year lows.

The Mumbai-headquartered company has rapidly grown to become India's largest retailer with over 10,000 stores selling groceries, consumer electronics and apparel, while its telecom unit, Jio, has become the country's largest wireless operator in about three years since launch.

Profit at Jio surged 62 per cent to 13.50 billion rupees, led by subscriber additions of 14.8 million during the reported quarter.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/day-after-supreme-court-verdict-vodafone-stocks-crash-to-record-low-274874">Day after Supreme Court verdict, Vodafone stocks crash to record low</a>

Reliance, which runs the world's biggest oil refining complex, said gross refining margin - the profit earned on each barrel of crude oil processed - was $9.2 per barrel, slightly lower than the prior quarter but better than a year earlier.

"The third-quarter results for our energy business reflect the weak global economic environment and volatility in energy markets," Ambani, the company's chairman, said.

Meanwhile, the proposed purchase of 20 per cent in Reliance's oil-to-chemicals arm by Saudi Aramco will take a "few months" to be finalized, Joint Chief Financial Officer V Srikanth said at a press briefing, adding Reliance wouldn't comment on a specific timeframe for the deal to close.

"We are making very good progress, and there is engagement across teams which is very intense," Srikanth said of the deal, which would be one of the largest ever foreign investments in India.

The company had previously said it would sign a definitive agreement with Aramco by March 2020.

The weak performance at the petrochem and refining unit led to a 2.5 per cent drop in revenue from operations to 1.57 trillion rupees.

Still, Chief Financial Officer Alok Agarwal said 2020 would be a "better year from a global growth point of view", which should help boost margins in the refining and petrochemicals units.

Consolidated net profit rose 13.5 per cent to 116.40 billion rupees ($1.64 billion) in the three months to December&nbsp;31, above the previous quarter's record and also beating analysts' average forecast of 114.32 billion rupees, according to Refinitiv data.

Indian oil-to-telecoms conglomerate Reliance Industries Ltd posted another record quarterly profit on Friday, as double-digit growth at its consumer-facing businesses cushioned weakness in its energy divisions.

Indian oil-to-telecoms conglomerate Reliance Industries Ltd posted another record quarterly profit on Friday, as double-digit growth at its consumer-facing businesses cushioned weakness in its energy divisions. Revenue at its retail and telecoms units each jumped more than 25 per cent in the December quarter as the company, headed by Asia's richest man, Mukesh Ambani, invests heavily to bring them on par with its dominant petrochemicals and refining businesses. "We saw consistent same-store sales growth and record footfall across our stores," Ambani said in a statement, with the remarks coming when growth in Asia's third-largest economy has slowed to multi-year lows. The Mumbai-headquartered company has rapidly grown to become India's largest retailer with over 10,000 stores selling groceries, consumer electronics and apparel, while its telecom unit, Jio, has become the country's largest wireless operator in about three years since launch. Profit at Jio surged 62 per cent to 13.50 billion rupees, led by subscriber additions of 14.8 million during the reported quarter. Also read: Day after Supreme Court verdict, Vodafone stocks crash to record low Reliance, which runs the world's biggest oil refining complex, said gross refining margin - the profit earned on each barrel of crude oil processed - was $9.2 per barrel, slightly lower than the prior quarter but better than a year earlier. "The third-quarter results for our energy business reflect the weak global economic environment and volatility in energy markets," Ambani, the company's chairman, said. Meanwhile, the proposed purchase of 20 per cent in Reliance's oil-to-chemicals arm by Saudi Aramco will take a "few months" to be finalized, Joint Chief Financial Officer V Srikanth said at a press briefing, adding Reliance wouldn't comment on a specific timeframe for the deal to close. "We are making very good progress, and there is engagement across teams which is very intense," Srikanth said of the deal, which would be one of the largest ever foreign investments in India. The company had previously said it would sign a definitive agreement with Aramco by March 2020. The weak performance at the petrochem and refining unit led to a 2.5 per cent drop in revenue from operations to 1.57 trillion rupees. Still, Chief Financial Officer Alok Agarwal said 2020 would be a "better year from a global growth point of view", which should help boost margins in the refining and petrochemicals units. Consolidated net profit rose 13.5 per cent to 116.40 billion rupees ($1.64 billion) in the three months to December 31, above the previous quarter's record and also beating analysts' average forecast of 114.32 billion rupees, according to Refinitiv data.

Mukesh Ambani's Reliance posts record profit on consumer strength

The output of US industry fell 1 per cent in December last year compared to the same month of 2018, driven by drops in a manufacturing sector impacted by bitter trade wars, the Federal Reserve reported Friday.

American manufacturing, which has been in recession for months, saw production fall 1.3 per cent in the final month of 2019 compared to a year earlier, the Fed said.

<a href="https://www.wionews.com/world/key-elements-of-the-us-china-trade-deal-a-pact-to-pause-the-economic-conflict-274516">Also Read: Key elements of the US-China trade deal - A pact to pause the economic conflict</a>

Petroleum and coal production which has seen strong gains in some months, including December, was 1.2 per cent lower than a year ago, according to the report.

Total output in December dipped 0.3 per cent compared to November, but that was skewed by a large drop-off in utilities due to unseasonably warm weather last month, which came after colder than usual temperatures in November.

Manufacturing gained just 0.2 per cent "despite a decrease of 4.6 per cent for motor vehicles and parts," the Fed said.

"Excluding the motor vehicle sector, factory output rose 0.5 per cent."

Mining output in the month rose 1.3 per cent and is up 1.4 per cent year-over-year, with most of the gains due to oil and gas extraction.

Meanwhile, industrial capacity in use fell to 77 per cent, the lowest since September 2017, and well below the average of the last five decades. 
&nbsp;

The output of US industry fell 1 per cent in December last year compared to the same month of 2018, driven by drops in a manufacturing sector impacted by bitter trade wars, the Federal Reserve reported Friday.

The output of US industry fell 1 per cent in December last year compared to the same month of 2018, driven by drops in a manufacturing sector impacted by bitter trade wars, the Federal Reserve reported Friday. American manufacturing, which has been in recession for months, saw production fall 1.3 per cent in the final month of 2019 compared to a year earlier, the Fed said. Also Read: Key elements of the US-China trade deal - A pact to pause the economic conflict Petroleum and coal production which has seen strong gains in some months, including December, was 1.2 per cent lower than a year ago, according to the report. Total output in December dipped 0.3 per cent compared to November, but that was skewed by a large drop-off in utilities due to unseasonably warm weather last month, which came after colder than usual temperatures in November. Manufacturing gained just 0.2 per cent "despite a decrease of 4.6 per cent for motor vehicles and parts," the Fed said. "Excluding the motor vehicle sector, factory output rose 0.5 per cent." Mining output in the month rose 1.3 per cent and is up 1.4 per cent year-over-year, with most of the gains due to oil and gas extraction. Meanwhile, industrial capacity in use fell to 77 per cent, the lowest since September 2017, and well below the average of the last five decades.

US industrial output fell 1% in December last year compared to 2018: Federal Reserve

Indian shares closed near record highs on Thursday after Washington and Beijing signed the first phase of a trade deal, though weakness in metal and mining stocks capped gains.

The NSE <a href="https://www.wionews.com/business-economy/nifty-sensex-settle-near-record-highs-after-us-china-trade-deal-274691">Nifty 50 Index</a> ended 0.1 per cent&nbsp;higher at 12,355.5, while the S&amp;P BSE&nbsp;<a href="https://www.wionews.com/business-economy/nifty-sensex-close-at-record-highs-274225">Sensex&nbsp;index</a> settled 0.14 per cent higher at 41,932.56. The Nifty and&nbsp;Sensex&nbsp;had earlier in the day hit record highs of 12,389.05 and 42,059.45, respectively.

Automaker <a href="https://www.wionews.com/business-economy/sensex-gains-by-321-points-as-nifty-closes-on-high-record-tata-motors-on-top-winner-271672">Eicher Motors Ltd</a> was the top gainer on the Nifty, climbing 4.42 per cent&nbsp;on its best day in three months.

Nestle India Ltd, the maker of Maggi noodles and Kit-Kat chocolates, rose 3.33 per cent&nbsp;to an all-time closing high.

The Nifty Metal Index fell 1.25 per cent&nbsp;and weighed on the benchmark indexes, as a number of sore spots in the Sino-US&nbsp;deal left investors worried that the pact would not substantially boost metals demand.

Gas marketing company <a href="https://www.wionews.com/business-economy/sensex-jumps-634-points-as-us-iran-tensions-ease-auto-and-realty-stocks-gain-273229">GAIL</a> (India) Ltd fell 2.2 per cent&nbsp;and was the biggest percentage loser on the Nifty.

Indian shares closed near record highs on Thursday after Washington and Beijing signed the first phase of a trade deal, though weakness in metal and mining stocks capped gains.

Indian shares closed near record highs on Thursday after Washington and Beijing signed the first phase of a trade deal, though weakness in metal and mining stocks capped gains. The NSE Nifty 50 Index ended 0.1 per cent higher at 12,355.5, while the S&P BSE Sensex index settled 0.14 per cent higher at 41,932.56. The Nifty and Sensex had earlier in the day hit record highs of 12,389.05 and 42,059.45, respectively. Automaker Eicher Motors Ltd was the top gainer on the Nifty, climbing 4.42 per cent on its best day in three months. Nestle India Ltd, the maker of Maggi noodles and Kit-Kat chocolates, rose 3.33 per cent to an all-time closing high. The Nifty Metal Index fell 1.25 per cent and weighed on the benchmark indexes, as a number of sore spots in the Sino-US deal left investors worried that the pact would not substantially boost metals demand. Gas marketing company GAIL (India) Ltd fell 2.2 per cent and was the biggest percentage loser on the Nifty.

Nifty, Sensex settle near record highs after US-China trade deal

A day after the Supreme Court rejected the review petitions filed byvarious telecom companies over the Adjusted Gross Revenue (AGR) case, Vodafone stocks sank thirty-nine per cent on Friday.

<a href="https://www.wionews.com/business-economy/in-major-setback-telecom-operators-to-pay-rs-92000-crore-as-dues-to-telecom-department-as-supreme-court-rejects-review-plea-274701">Also Read:&nbsp;Telecom operators to pay Rs 92,000 crore as dues to telecom department</a>

Vodafone's share price collapsed 39 per cent to 3.65 rupees before it&nbsp;recovered to 4.60 rupees which weighed on the market with the Sensex shedding 0.16 per cent to 41,866.16 in morning trade.

After the bloodbath, Vodafone shares&nbsp;closed 25.21 per cent lower at Rs 4.51 on the Bombay Stock Exchange(BSE).

The Sensex, however, ended 12.81 points higher at 41,945.37, while Nifty closed 3.10 points lower at 12,352.40.

Last year, India's top court had granted three months to telecom operators to clear their dues with top companies - Reliance, Bharti Airtel owing the telecom department Rs 92,000 and another 41,000 crore to Department of telecom(DoT). According to the court, Vodafone-Idea has to pay Rs 28,000 crore (license fees of Rs 6,900 crore and the balance is interest and penalty) over the next three months to the government.

In November, Vodafone had recorded the biggest loss in corporate history with $7.13 billion in the second quarter till September as the company continued to bleed.

According to the TRAI, Vodafone-Idea and Bharti Airtel had lost 14.5 million and 15.1 million mobile subscribers in March last year. Interestingly, the customer base of Reliance Jio, owned by Mukesh Ambani was 306.7 million in March 2019, against 297.2 million as on February.

A day after the Supreme Court rejected the review petitions filed byvarious telecom companies over the Adjusted Gross Revenue (AGR) case, Vodafone stocks sank thirty-nine per cent on Friday.

A day after the Supreme Court rejected the review petitions filed byvarious telecom companies over the Adjusted Gross Revenue (AGR) case, Vodafone stocks sank thirty-nine per cent on Friday. Also Read: Telecom operators to pay Rs 92,000 crore as dues to telecom department Vodafone's share price collapsed 39 per cent to 3.65 rupees before it recovered to 4.60 rupees which weighed on the market with the Sensex shedding 0.16 per cent to 41,866.16 in morning trade. After the bloodbath, Vodafone shares closed 25.21 per cent lower at Rs 4.51 on the Bombay Stock Exchange(BSE). The Sensex, however, ended 12.81 points higher at 41,945.37, while Nifty closed 3.10 points lower at 12,352.40. Last year, India's top court had granted three months to telecom operators to clear their dues with top companies - Reliance, Bharti Airtel owing the telecom department Rs 92,000 and another 41,000 crore to Department of telecom(DoT). According to the court, Vodafone-Idea has to pay Rs 28,000 crore (license fees of Rs 6,900 crore and the balance is interest and penalty) over the next three months to the government. In November, Vodafone had recorded the biggest loss in corporate history with $7.13 billion in the second quarter till September as the company continued to bleed. According to the TRAI, Vodafone-Idea and Bharti Airtel had lost 14.5 million and 15.1 million mobile subscribers in March last year. Interestingly, the customer base of Reliance Jio, owned by Mukesh Ambani was 306.7 million in March 2019, against 297.2 million as on February.

Day after Supreme Court verdict, Vodafone stocks crash to record low

Indian stock market indices Sensex and Nifty on Thursday rose up to fresh highs after US-China signed an initial trade deal which helped them reduce tensions in the ongoing trade war. The investors shifted focus to domestic corporate earnings.

The BSE Sensex opened at 41,959.19, climbing 86 points from the last closing. Nifty too, has jumped to its record high of 12,357.

At 10.50 am Sensex was up by 52 points at 41,924.79 and Nifty at 12,349.50.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-indian-traders-call-amazon-an-economic-terrorist-274504/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Private-sector lender Yes Bank Ltd, up as much as 2.3%, was the top gainer on the Nifty. Drugmaker Sun Pharmaceutical Industries Ltd climbed 1.3% to a near seven-week high.

Cable television company DEN Networks Ltd jumped 5% to its highest since Sept. 25, 2019, after reporting a profit for the December quarter, compared with a loss last year.

The Nifty Metal index dropped 0.9%. Miner Vedanta Ltd, the biggest loser in the Nifty index, dropped as much as 1.8%, while Tata Steel Ltd and JSW Steel Ltd declined 1.2 per cent and 1.8 per cent, respectively.

(With inputs from agencies)

Indian stock market indices Sensex and Nifty on Thursday rose up to fresh highs after US-China signed an initial trade deal which helped them reduce tensions in the ongoing trade war.

Indian stock market indices Sensex and Nifty on Thursday rose up to fresh highs after US-China signed an initial trade deal which helped them reduce tensions in the ongoing trade war. The investors shifted focus to domestic corporate earnings. The BSE Sensex opened at 41,959.19, climbing 86 points from the last closing. Nifty too, has jumped to its record high of 12,357. At 10.50 am Sensex was up by 52 points at 41,924.79 and Nifty at 12,349.50. Private-sector lender Yes Bank Ltd, up as much as 2.3%, was the top gainer on the Nifty. Drugmaker Sun Pharmaceutical Industries Ltd climbed 1.3% to a near seven-week high. Cable television company DEN Networks Ltd jumped 5% to its highest since Sept. 25, 2019, after reporting a profit for the December quarter, compared with a loss last year. The Nifty Metal index dropped 0.9%. Miner Vedanta Ltd, the biggest loser in the Nifty index, dropped as much as 1.8%, while Tata Steel Ltd and JSW Steel Ltd declined 1.2 per cent and 1.8 per cent, respectively. (With inputs from agencies)

Sensex hits 42,000 for first time, Nifty at a record high

<a href="https://www.wionews.com/business-economy/sensex-hits-42000-for-first-time-nifty-at-a-record-high-274544">Indian markets </a>have climbed to&nbsp;a record high with the announcement of phase one trade deal between the<a href="https://www.wionews.com/opinions-blogs/us-iran-conflict-a-high-stakes-bet-on-who-blinks-first-274636"> US</a> and<a href="https://www.wionews.com/india-news/it-isnt-like-youve-got-china-on-your-border-when-trump-shocked-modi-with-his-remark-274653"> China</a>.

<a href="https://www.wionews.com/world/key-elements-of-the-us-china-trade-deal-a-pact-to-pause-the-economic-conflict-274516">Also read:&nbsp;Key elements of the US-China trade deal: A pact to pause the economic conflict</a>

Although it's just the first step, this deal between the world's two largest economies can benefit <a href="https://www.wionews.com/south-asia/family-of-british-explorer-return-old-buddha-statue-to-sri-lankan-temple-274652">Asia</a>'s third-largest economy India in several areas.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="http://13.235.153.162/videos/us-china-sign-first-phase-of-deal-world-markets-surge-274627/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Firstly, if <a href="https://www.wionews.com/opinions/wion-edit-inside-chinas-trafficking-problem-266666">China</a> starts exporting goods to the US which is its biggest market, then there will probably be a reduction&nbsp;in the dumping of unsold goods to&nbsp;India.

The global trade wars have increased the apprehensions of the global economies which are getting into recession and&nbsp;demand slowing.

So, this deal will indirectly help India by keeping the demand intact in many other markets.

But the trade deal will have a negatives side as well.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="http://13.235.153.162/videos/winners-losers-of-us-china-trade-deal-274646/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The renewed demand in these economies will yield a price hike in oil prices which will, in turn, will impact India as it imports over 80 per cent of its crude oil.

With the pre-trade war levels due to this deal, India will also miss the opportunity to be the manufacturing hub of the world, as some companies had earlier shown interest in shifting their manufacturing base to India from China, owing to high US tariffs.

Indian markets have climbed to a record high with the announcement of phase one trade deal between the US and China. Also read: Key elements of the US-China trade deal: A pact to pause the economic conflict Although it's just the first step, this deal between the world's two largest economies can benefit Asia's third-largest economy India in several areas.

Indian markets have climbed to a record high with the announcement of phase one trade deal between the US and China. Also read: Key elements of the US-China trade deal: A pact to pause the economic conflict Although it's just the first step, this deal between the world's two largest economies can benefit Asia's third-largest economy India in several areas. × Firstly, if China starts exporting goods to the US which is its biggest market, then there will probably be a reduction in the dumping of unsold goods to India. The global trade wars have increased the apprehensions of the global economies which are getting into recession and demand slowing. So, this deal will indirectly help India by keeping the demand intact in many other markets. But the trade deal will have a negatives side as well. × The renewed demand in these economies will yield a price hike in oil prices which will, in turn, will impact India as it imports over 80 per cent of its crude oil. With the pre-trade war levels due to this deal, India will also miss the opportunity to be the manufacturing hub of the world, as some companies had earlier shown interest in shifting their manufacturing base to India from China, owing to high US tariffs.

US-China trade deal: Hits and misses for India

Amazon hasn't done India any big favours by investing $1 billion in the country, its trade minister said on Thursday, laying bare the tensions with the US&nbsp;online retail giant during a visit by its CEO Jeff Bezos.

Amazon and Walmart's Flipkart are facing mounting criticism from India's brick-and-mortar retailers, which accuse the US&nbsp;giants of violating Indian law by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers. The companies deny the allegations.

"They may have put in a billion dollars but then if they make a loss of a billion dollars every year then they jolly well have to finance that billion dollars," Indian trade minister Piyush Goyal told a security conference in New Delhi.

Also read:&nbsp;<a href="https://www.wionews.com/world/amazon-ceo-af-gets-trolled-online-as-he-visits-gandhi-memorial-274635">Amazon CEO Jeff Bezos gets trolled online as he visits Gandhi memorial at Rajpath</a>

"So it's not as if they are doing a great favour to India when they invest a billion dollars."

Bezos, who is currently in India, said on Wednesday Amazon would invest $1 billion to bring small businesses online in the country, seen as part of the company's efforts to dispel criticism.

Ahead of Bezos'&nbsp;visit, the Competition Commission of India launched a probe into Amazon and Flipkart to look at allegations of deep discounts and whether the companies discriminate against small sellers.

Goyal said the allegations were "an area of concern for every Indian".

Amazon hasn't done India any big favours by investing $1 billion in the country, its trade minister said on Thursday, laying bare the tensions with the US online retail giant during a visit by its CEO Jeff Bezos.

Amazon hasn't done India any big favours by investing $1 billion in the country, its trade minister said on Thursday, laying bare the tensions with the US online retail giant during a visit by its CEO Jeff Bezos. Amazon and Walmart's Flipkart are facing mounting criticism from India's brick-and-mortar retailers, which accuse the US giants of violating Indian law by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers. The companies deny the allegations. "They may have put in a billion dollars but then if they make a loss of a billion dollars every year then they jolly well have to finance that billion dollars," Indian trade minister Piyush Goyal told a security conference in New Delhi. Also read: Amazon CEO Jeff Bezos gets trolled online as he visits Gandhi memorial at Rajpath "So it's not as if they are doing a great favour to India when they invest a billion dollars." Bezos, who is currently in India, said on Wednesday Amazon would invest $1 billion to bring small businesses online in the country, seen as part of the company's efforts to dispel criticism. Ahead of Bezos' visit, the Competition Commission of India launched a probe into Amazon and Flipkart to look at allegations of deep discounts and whether the companies discriminate against small sellers. Goyal said the allegations were "an area of concern for every Indian".

Amazon's $1 billion investment in India no big favour: Piyush Goyal

Wall Street stocks jumped early Thursday, adding to records following the signing of a US-China trade accord and solid US retail sales data.

<a href="https://www.wionews.com/world/key-elements-of-the-us-china-trade-deal-a-pact-to-pause-the-economic-conflict-274516">Also Read:&nbsp;Key elements of the US-China trade deal</a>

Analysts generally view the US-China deal as removing the near-term risk of an escalation between the two economic powers, even though there is skepticism it will resolve issues between the countries.

The Senate later Thursday is expected to approve a new trade accord between the United States, Mexico and Canada, another benign trade development that has boosted sentiment.

Retail sales for December rose 0.3 per cent as US consumers continued to spend freely through the key holiday shopping season.

About 25 minutes into trading, the Dow Jones Industrial Average stood at 29,178.52, up 0.5 per cent.

The broad-based S&amp;P 500 also gained 0.5 per cent, rising to 3,305.00, while the tech-rich Nasdaq Composite Index won 0.7 per cent, moving up to 9,326.33.

The Dow and S&amp;P 500 both closed at records on Wednesday.

Among individual companies, Morgan Stanley gained 5.7 per cent as fourth-quarter earnings easily topped expectations, making it the latest large financial group to report good results.

Among other companies reporting results, PPG Industries lost 3.7 per cent and Alcoa 7.9 per cent.

Wall Street stocks jumped early Thursday, adding to records following the signing of a US-China trade accord and solid US retail sales data. Also Read: Key elements of the US-China trade deal Analysts generally view the US-China deal as removing the near-term risk of an escalation between the two economic powers, even though there is skepticism it will resolve issues between the countries.

Wall Street stocks jumped early Thursday, adding to records following the signing of a US-China trade accord and solid US retail sales data. Also Read: Key elements of the US-China trade deal Analysts generally view the US-China deal as removing the near-term risk of an escalation between the two economic powers, even though there is skepticism it will resolve issues between the countries. The Senate later Thursday is expected to approve a new trade accord between the United States, Mexico and Canada, another benign trade development that has boosted sentiment. Retail sales for December rose 0.3 per cent as US consumers continued to spend freely through the key holiday shopping season. About 25 minutes into trading, the Dow Jones Industrial Average stood at 29,178.52, up 0.5 per cent. The broad-based S&P 500 also gained 0.5 per cent, rising to 3,305.00, while the tech-rich Nasdaq Composite Index won 0.7 per cent, moving up to 9,326.33. The Dow and S&P 500 both closed at records on Wednesday. Among individual companies, Morgan Stanley gained 5.7 per cent as fourth-quarter earnings easily topped expectations, making it the latest large financial group to report good results. Among other companies reporting results, PPG Industries lost 3.7 per cent and Alcoa 7.9 per cent.

Wall Street stocks surge after US-China trade accord

The Supreme Court of India on Thursday dismissed review petitions filed by various telecom companies challenging its judgement in the Adjusted Gross Revenue (AGR) case.&nbsp;

Telecom bigwigs like Bharti Airtel, Vodafone Idea and Reliance Communications (RCom) owe a whopping Rs 92,000 crore as a license fee to the telecom department. Another 41,000 crore is to be paid to the Department of Telecom (DoT) as a spectrum usage fee.&nbsp;

In October last year, the apex court had granted three months to telecom operators to clear their dues with the telecom department.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Supreme Court dismisses review petitions by various telecom companies challenging the Supreme Court judgement in the Adjusted Gross Revenue (AGR) case. <a href="https://t.co/F3W33tUxE4">pic.twitter.com/F3W33tUxE4</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1217770310440636418?ref_src=twsrc%5Etfw">January 16, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The Indian telecom sector reels under heavy debts and suffers from a cut-throat price war. Supreme Court's rejection of AGR pleas is likely to further add to the financial woes of the telecom operators.

Bharti, in its response, expressed the company's disappointment with the top court's verdict and said that it would evaluate filing another petition.

"The industry continues to face severe financial stress and the outcome could further erode the viability of the sector as a whole," Bharti said in a statement reported by news agency Reuters.

According to reports, Bharti Airtel is supposed to pay a total of around Rs 23,000 crore to the telecom department. Reliance Communications has saddled Rs 16,456.47 crore worth of dues while Vodafone Idea has to pay Rs 19,823.71 crore as its dues.

The Supreme Court of India on Thursday dismissed review petitions filed by various telecom companies challenging its judgement in the Adjusted Gross Revenue (AGR) case.

The Supreme Court of India on Thursday dismissed review petitions filed by various telecom companies challenging its judgement in the Adjusted Gross Revenue (AGR) case. Telecom bigwigs like Bharti Airtel, Vodafone Idea and Reliance Communications (RCom) owe a whopping Rs 92,000 crore as a license fee to the telecom department. Another 41,000 crore is to be paid to the Department of Telecom (DoT) as a spectrum usage fee. In October last year, the apex court had granted three months to telecom operators to clear their dues with the telecom department. Supreme Court dismisses review petitions by various telecom companies challenging the Supreme Court judgement in the Adjusted Gross Revenue (AGR) case. pic.twitter.com/F3W33tUxE4 — ANI (@ANI) January 16, 2020 × The Indian telecom sector reels under heavy debts and suffers from a cut-throat price war. Supreme Court's rejection of AGR pleas is likely to further add to the financial woes of the telecom operators. Bharti, in its response, expressed the company's disappointment with the top court's verdict and said that it would evaluate filing another petition. "The industry continues to face severe financial stress and the outcome could further erode the viability of the sector as a whole," Bharti said in a statement reported by news agency Reuters. According to reports, Bharti Airtel is supposed to pay a total of around Rs 23,000 crore to the telecom department. Reliance Communications has saddled Rs 16,456.47 crore worth of dues while Vodafone Idea has to pay Rs 19,823.71 crore as its dues.

Telecom operators to pay Rs 92,000 crore as dues to telecom department, SC rejects review plea 