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<a href="https://www.wionews.com/business-economy/google-begins-rolling-out-rich-communication-services-to-do-more-with-messages-262225">Google</a> said Tuesday its digital assistant will serve as a "news host" on its connected devices to deliver stories from a variety of its media partners.

The feature called Your News Update will be activated by asking the Google Assistant to read the news.

The artificial intelligence program will deliver "a mix of short news stories chosen at that moment based on your interests, location, user history and preferences, as well as the top news stories out there," said product manager Liz Gannes in a blog post.

The assistant will offer stories from partners including CBS, Politico, Fox News and CNN based on user preferences and other factors.

It can offer news, for example, about the user's favourite sports teams or specific local or business events.

"In between stories, the Google Assistant serves as your smart news host that introduces which publishers and updates are next," Gannes said.

The feature is available in English in the United States and will expand internationally next year, for people with compatible <a href="https://www.wionews.com/business-economy/focus-made-in-china-samsung-farms-out-more-phones-to-fend-off-rivals-262812">smartphones</a> and connected speakers.

It is activated by saying, "Hey Google, play me the news."

<a href="https://www.wionews.com/business-economy/amazon-offers-employees-10000-to-quit-launch-delivery-business-218463">Amazon </a>offers a similar "flash briefing" feature for its <a href="https://www.wionews.com/entertainment/amazon-brings-samuel-l-jacksons-voice-to-alexa-and-announces-voice-controlled-glasses-252112">Alexa</a>-powered devices.

Google said Tuesday its digital assistant will serve as a "news host" on its connected devices to deliver stories from a variety of its media partners. The feature called Your News Update will be activated by asking the Google Assistant to read the news.

Google said Tuesday its digital assistant will serve as a "news host" on its connected devices to deliver stories from a variety of its media partners. The feature called Your News Update will be activated by asking the Google Assistant to read the news. The artificial intelligence program will deliver "a mix of short news stories chosen at that moment based on your interests, location, user history and preferences, as well as the top news stories out there," said product manager Liz Gannes in a blog post. The assistant will offer stories from partners including CBS, Politico, Fox News and CNN based on user preferences and other factors. It can offer news, for example, about the user's favourite sports teams or specific local or business events. "In between stories, the Google Assistant serves as your smart news host that introduces which publishers and updates are next," Gannes said. The feature is available in English in the United States and will expand internationally next year, for people with compatible smartphones and connected speakers. It is activated by saying, "Hey Google, play me the news." Amazon offers a similar "flash briefing" feature for its Alexa-powered devices.

Google Assistant to soon work as news host for devices

Indian group&nbsp;NAFED&nbsp;has issued an international tender to&nbsp;purchase&nbsp;and import up to&nbsp;100,000&nbsp;tonnes&nbsp;of&nbsp;corn&nbsp;(maize), European&nbsp;traders said on Wednesday.

The&nbsp;corn&nbsp;should be sourced from Ukraine, they said.

The tender closes on December 3 with offers having to remain valid up to December&nbsp;24.

Indian group NAFED has issued an international tender to purchase and import up to 100,000 tonnes of corn (maize), European traders said on Wednesday. The corn should be sourced from Ukraine, they said.

Indian group NAFED has issued an international tender to purchase and import up to 100,000 tonnes of corn (maize), European traders said on Wednesday. The corn should be sourced from Ukraine, they said. The tender closes on December 3 with offers having to remain valid up to December 24.

NAFED tenders to purchase 100,000 tonnes corn

US&nbsp;President <a href="https://www.wionews.com/world/trump-says-china-tariffs-will-go-even-higher-without-deal-263234">Donald Trump </a>said on Wednesday the United States is continuing to talk to China but gave no other details, as both sides tried to hammer out a phase one trade deal ahead of looming US tariffs due next month.

"We continue to talk to China. China wants to make a deal. The question is: Do I want to make a deal? Because I like what's happening now," Trump told reporters at the White House.

Trump last month announced an agreement for an initial trade deal with Beijing but no formal agreement has been released. The pact had initially been expected to be signed by mid-November, but experts now say it could be pushed into next year.

Two people briefed on the talks have said Trump wants deeper concessions from China in order to roll back existing tariffs and cancel additional tariffs on some $156 billion in Chinese consumer goods scheduled to take effect Dec&nbsp;15.

On Tuesday, Trump also threatened to raise tariffs if no deal is reached with Beijing.

The ongoing trade dispute between the world's two largest economies have roiled financial markets and threatened global economic growth.

US President Donald Trump said on Wednesday the United States is continuing to talk to China but gave no other details, as both sides tried to hammer out a phase one trade deal ahead of looming US tariffs due next month.

US President Donald Trump said on Wednesday the United States is continuing to talk to China but gave no other details, as both sides tried to hammer out a phase one trade deal ahead of looming US tariffs due next month. "We continue to talk to China. China wants to make a deal. The question is: Do I want to make a deal? Because I like what's happening now," Trump told reporters at the White House. Trump last month announced an agreement for an initial trade deal with Beijing but no formal agreement has been released. The pact had initially been expected to be signed by mid-November, but experts now say it could be pushed into next year. Two people briefed on the talks have said Trump wants deeper concessions from China in order to roll back existing tariffs and cancel additional tariffs on some $156 billion in Chinese consumer goods scheduled to take effect Dec 15. On Tuesday, Trump also threatened to raise tariffs if no deal is reached with Beijing. The ongoing trade dispute between the world's two largest economies have roiled financial markets and threatened global economic growth.

Donald Trump says US is still talking to China on trade

More than half the cars produced by Porsche will be electric by 2025, the German manufacturer's North American chief said Tuesday as he set out plans to overtake <a href="https://www.wionews.com/business-economy/teslas-musk-greenlights-einhorn-taunt-each-other-on-twitter-261007">market leader Tesla</a>.

"The future is electric," Klaus Zellmer told the Los Angeles Auto Show, adding that the brand's commitment to battery-powered vehicles is "huge."

"By 2025 Porsche will have crossed a tipping point, actually building more than 50 per cent of its annual volume ... with either plug-in hybrid technology or fully battery," he said.

However, he added, the "combustion engine of course is not dead," pointing to Porsche's popular 911 sports cars.

Porsche, a subsidiary of the Volkswagen group, unveiled its new battery-powered Taycan at Frankfurt's International Auto Show in September.&nbsp;

The brand's first 100 per cent electric sports car, the Taycan is capable of going from 0 to 60 miles per hour in less than three seconds.

The luxury model is intended to rival Tesla, the California firm that dominates the global electric car market.

Tesla has an especially firm grip on the United States, which is Porsche's second-largest market. The German brand sold 57,000 cars in the US last year.

From 2021 Porsche intends to sell a fully electric version of its SUV, the Macan, which would compete directly against Tesla's Y model.

"The electric Macan will compete in many different segments,&nbsp;it's going to draw&nbsp;many people from different segments" just as Tesla did when it entered the market, Zellmer said.

"It's not a transition that is going to turn the world upside down within five years, it's probably 10 years" away, the North American CEO added.

<a href="https://www.wionews.com/business-economy/tesla-surges-twitter-slumps-amid-united-states-earnings-deluge-258002">Porsche is facing growing competition</a> in China, its biggest single market, from Tesla.

Tesla last month said its new so-called Gigafactory in Shanghai had started production on a trial basis.

Zellmer said the growth of electric cars in China was being impeded by the lack of access to charging facilities in mega-cities where tens of millions live and work in high rise buildings.

"Charging your car for the night is a challenge. Ninety per cent of charging according to our market research actually happens at home or at work," he said.

More than half the cars produced by Porsche will be electric by 2025, the German manufacturer's North American chief said Tuesday as he set out plans to overtake market leader Tesla.

More than half the cars produced by Porsche will be electric by 2025, the German manufacturer's North American chief said Tuesday as he set out plans to overtake market leader Tesla. "The future is electric," Klaus Zellmer told the Los Angeles Auto Show, adding that the brand's commitment to battery-powered vehicles is "huge." "By 2025 Porsche will have crossed a tipping point, actually building more than 50 per cent of its annual volume ... with either plug-in hybrid technology or fully battery," he said. However, he added, the "combustion engine of course is not dead," pointing to Porsche's popular 911 sports cars. Porsche, a subsidiary of the Volkswagen group, unveiled its new battery-powered Taycan at Frankfurt's International Auto Show in September. The brand's first 100 per cent electric sports car, the Taycan is capable of going from 0 to 60 miles per hour in less than three seconds. The luxury model is intended to rival Tesla, the California firm that dominates the global electric car market. Tesla has an especially firm grip on the United States, which is Porsche's second-largest market. The German brand sold 57,000 cars in the US last year. From 2021 Porsche intends to sell a fully electric version of its SUV, the Macan, which would compete directly against Tesla's Y model. "The electric Macan will compete in many different segments, it's going to draw many people from different segments" just as Tesla did when it entered the market, Zellmer said. "It's not a transition that is going to turn the world upside down within five years, it's probably 10 years" away, the North American CEO added. Porsche is facing growing competition in China, its biggest single market, from Tesla. Tesla last month said its new so-called Gigafactory in Shanghai had started production on a trial basis. Zellmer said the growth of electric cars in China was being impeded by the lack of access to charging facilities in mega-cities where tens of millions live and work in high rise buildings. "Charging your car for the night is a challenge. Ninety per cent of charging according to our market research actually happens at home or at work," he said.

'Future is electric': Porsche sets out plans to battle Tesla in US

India's central bank said on Wednesday it would initiate bankruptcy proceedings against <a href="https://www.wionews.com/business-economy/dhfl-board-approves-plan-to-convert-debt-into-equity-sell-assets-246667">Dewan Housing Finance Ltd (DHFL)</a>, as it seeks to address governance concerns and defaults at what was once one of the country's biggest shadow lenders.

The Reserve Bank of India said it had superseded the board of DHFL and appointed R Subramaniakumar, the former chief executive of state-run Indian Overseas Bank as the administrator.

DHFL's creditors include mutual funds, pension funds, insurance firms and a wide array of retail investors, and its collapse could impact India's already ailing banking sector and further weaken economic growth. The firm owes lenders close to 1 trillion rupees ($14 billion).

India's shadow banking sector has been under stress after a string of defaults by Infrastructure Leasing and Financial Service Ltd (IL&amp;FS) last year triggered fears about contagion in the financial sector.

DHFL had in September submitted a draft resolution plan proposing to convert debt to equity, while seeking to sell assets and raise more capital.

India's central bank said on Wednesday it would initiate bankruptcy proceedings against Dewan Housing Finance Ltd (DHFL), as it seeks to address governance concerns and defaults at what was once one of the country's biggest shadow lenders.

India's central bank said on Wednesday it would initiate bankruptcy proceedings against Dewan Housing Finance Ltd (DHFL), as it seeks to address governance concerns and defaults at what was once one of the country's biggest shadow lenders. The Reserve Bank of India said it had superseded the board of DHFL and appointed R Subramaniakumar, the former chief executive of state-run Indian Overseas Bank as the administrator. DHFL's creditors include mutual funds, pension funds, insurance firms and a wide array of retail investors, and its collapse could impact India's already ailing banking sector and further weaken economic growth. The firm owes lenders close to 1 trillion rupees ($14 billion). India's shadow banking sector has been under stress after a string of defaults by Infrastructure Leasing and Financial Service Ltd (IL&FS) last year triggered fears about contagion in the financial sector. DHFL had in September submitted a draft resolution plan proposing to convert debt to equity, while seeking to sell assets and raise more capital.

RBI to begin bankruptcy proceedings against shadow lender DHFL

India's publicly listed firms must disclose any failure to repay loans within 24 hours in cases where 30 days have passed since the default, its securities regulator said on Wednesday, tightening rules at a time when bond defaults have soared.

The decision was aimed at addressing any gaps in the availability of information to investors surrounding corporate defaults, the <a href="https://www.wionews.com/business-economy/sebi-to-expand-ofs-framework-relax-fpi-investment-clubbing-norms-182608">Securities and Exchange Board of India </a>(SEBI) said in a statement.

"The philosophy is that more and more information should be in the public domain that guides investors and other stakeholders," SEBI Chairman Ajay Tyagi told reporters in Mumbai.

The move comes as loan and bond defaults by companies, particularly several housing finance firms, are rising - adding to pressure on India's banks, which are saddled with a level of bad debt that is one of the world's highest.

India's housing finance companies and shadow lenders, a key source of credit to millions, have been battling a credit crunch since giant shadow bank IL&amp;FS collapsed in late 2018 amid fraud allegations.

Publicly-listed<a href="https://www.wionews.com/business-economy/sensex-nifty-nearly-flat-metal-stocks-drag-256379"> Dewan Housing Finance Corp Ltd </a>is one of India's top defaulters and owes close to 1 trillion rupees ($14 billion) to its debtors, which include banks and mutual funds.

The SEBI also tightened rules for portfolio managers, requiring that such firms must have a net worth of 50 million rupees ($696,233) from the earlier 20 million rupees.

It also doubled the required minimum investment by clients of portfolio managers to 5 million rupees from 2.5 million rupees.

"We have many clients between the 2.5 to 5 million-rupee bracket that is going to be disappointed," said Deepak Shenoy, the founder of Capitalmind, a portfolio manager in Bengaluru that manages 1.1 billion rupees in assets.

"It's not extremely bad (but) it will definitely affect business," Shenoy said.

&nbsp;

($1 = 71.8150 Indian rupees)

India's publicly listed firms must disclose any failure to repay loans within 24 hours in cases where 30 days have passed since the default, its securities regulator said on Wednesday, tightening rules at a time when bond defaults have soared.

India's publicly listed firms must disclose any failure to repay loans within 24 hours in cases where 30 days have passed since the default, its securities regulator said on Wednesday, tightening rules at a time when bond defaults have soared. The decision was aimed at addressing any gaps in the availability of information to investors surrounding corporate defaults, the Securities and Exchange Board of India (SEBI) said in a statement. "The philosophy is that more and more information should be in the public domain that guides investors and other stakeholders," SEBI Chairman Ajay Tyagi told reporters in Mumbai. The move comes as loan and bond defaults by companies, particularly several housing finance firms, are rising - adding to pressure on India's banks, which are saddled with a level of bad debt that is one of the world's highest. India's housing finance companies and shadow lenders, a key source of credit to millions, have been battling a credit crunch since giant shadow bank IL&FS collapsed in late 2018 amid fraud allegations. Publicly-listed Dewan Housing Finance Corp Ltd is one of India's top defaulters and owes close to 1 trillion rupees ($14 billion) to its debtors, which include banks and mutual funds. The SEBI also tightened rules for portfolio managers, requiring that such firms must have a net worth of 50 million rupees ($696,233) from the earlier 20 million rupees. It also doubled the required minimum investment by clients of portfolio managers to 5 million rupees from 2.5 million rupees. "We have many clients between the 2.5 to 5 million-rupee bracket that is going to be disappointed," said Deepak Shenoy, the founder of Capitalmind, a portfolio manager in Bengaluru that manages 1.1 billion rupees in assets. "It's not extremely bad (but) it will definitely affect business," Shenoy said. ($1 = 71.8150 Indian rupees)

India tightens rules on loan default disclosure for public firms

Aston Martin, which has seen its share price plunge this year as sales failed to meet expectations after a stock market flotation, launched its first sport utility vehicle on Wednesday, hoping for a turnaround in fortunes.

The sports car maker, famed for being fictional agent James Bond's car of choice, has gone bankrupt seven times in its 106-year history and has had multiple owners over the last century including Ford.

Now largely owned by Kuwaiti and Italian private equity groups, Aston listed in October last year at 19 pounds per share but that has since plunged by around 75 per cent, hit most recently by falling demand in Europe and for its Vantage model.

The firm, which reported a pre-tax loss of $118 million&nbsp;in the first nine months of the year, has ploughed money into a new factory in Wales which will build the new DBX SUV model from next year.

"We're essentially holding the cost of a complete factory right now without the benefit of the revenues coming in ... so from that point of view of course it's a really important model," Chief Executive Andy Palmer told Reuters earlier this month.

Aston hopes to encourage more women buyers with its new offering and has received input from a female advisory body on the choice of certain features such as separate central arm rests and the design of the glovebox.

The first trial build of the DBX has been completed with production due in the second quarter of 2020 which the company hopes will contribute to a boost to its output, alongside sports cars made at its southern English Gaydon facility.

"If our volumes are slightly north of 6,000 this year, obviously you're adding another ultimately 4 or 5,000 so it's a big chunk of volume for us," said Palmer.

Aston Martin, which has seen its share price plunge this year as sales failed to meet expectations after a stock market flotation, launched its first sport utility vehicle on Wednesday, hoping for a turnaround in fortunes.

Aston Martin, which has seen its share price plunge this year as sales failed to meet expectations after a stock market flotation, launched its first sport utility vehicle on Wednesday, hoping for a turnaround in fortunes. The sports car maker, famed for being fictional agent James Bond's car of choice, has gone bankrupt seven times in its 106-year history and has had multiple owners over the last century including Ford. Now largely owned by Kuwaiti and Italian private equity groups, Aston listed in October last year at 19 pounds per share but that has since plunged by around 75 per cent, hit most recently by falling demand in Europe and for its Vantage model. The firm, which reported a pre-tax loss of $118 million in the first nine months of the year, has ploughed money into a new factory in Wales which will build the new DBX SUV model from next year. "We're essentially holding the cost of a complete factory right now without the benefit of the revenues coming in ... so from that point of view of course it's a really important model," Chief Executive Andy Palmer told Reuters earlier this month. Aston hopes to encourage more women buyers with its new offering and has received input from a female advisory body on the choice of certain features such as separate central arm rests and the design of the glovebox. The first trial build of the DBX has been completed with production due in the second quarter of 2020 which the company hopes will contribute to a boost to its output, alongside sports cars made at its southern English Gaydon facility. "If our volumes are slightly north of 6,000 this year, obviously you're adding another ultimately 4 or 5,000 so it's a big chunk of volume for us," said Palmer.

Aston Martin launches first SUV, hopeful of a turnaround

<a href="https://www.wionews.com/business-economy/gold-prices-steady-as-market-awaits-united-states-employment-report-253433">Gold</a> prices rose to their highest in nearly two weeks on Wednesday as US&nbsp;Senate measures on Hong Kong posed a potential roadblock for a trade deal between the United States and China, denting appeal for riskier assets.

Spot gold was up 0.3 per cent&nbsp;at $1,476.50 an ounce by 1015 GMT and US&nbsp;gold futures rose 0.2 per cent to $1,477.

"The US&nbsp;senate passing the Hong Kong democracy bill is raising the further risk of a trade deal running into problems and it's causing some renewed risk-off in the markets," said <a href="https://www.wionews.com/business-%26-economy/gold-locked-below-1300-as-market-braces-for-fed-meeting-143852">Saxo Bank </a>commodity strategist Ole Hansen.

"We see stocks trading weaker, bond yields moving lower and gold is ticking higher."

The US&nbsp;Senate passed two bills backing human rights in Hong Kong and banning the export of certain munitions to the region's police forces. China condemned the move and called for Washington to stop meddling in its internal affairs.

European stocks steered away from a recent peak and US&nbsp;10-year bond yields slipped to their lowest in nearly three weeks, also pressured by US&nbsp;President Donald Trump's threat to raise tariffs on Chinese imports if a trade deal cannot be reached with Beijing.&nbsp;

Investor eyes will also be on minutes from the <a href="https://www.wionews.com/business-economy/nasdaq-ends-at-record-high-dollar-falls-as-us-fed-signals-possible-rate-cut-234814">US&nbsp;Federal Reserve'</a>s October policy meeting, due at 1900 GMT, for additional cues on the monetary policy outlook.

The US&nbsp;central bank cut interest rates three times this year to help to sustain US&nbsp;growth but last month signalled that there would be no further cuts unless the economy takes a turn for the worse.

"The market is pricing in one cut over the next 12 months and that will change very quickly on failure to reach a (trade) deal," Saxo Bank's Hansen added.

Lower interest rates reduce the opportunity cost for holding non-yielding bullion.

Spot gold could rise into a range of $1,480-$1,485 an ounce, according to Reuters technical analyst Wang Tao.

Elsewhere, silver was flat at $17.14, platinum was down 0.1 per cent at&nbsp;$909.14 and palladium was little changed at $1,764.50.

Palladium prices could continue to firm on supply issues, and $2,000 an ounce is a likely scenario for the autocatalyst metal next year, said Ross Norman, a London-based independent analyst.

The metal hit a record high of $1,824.50 on October&nbsp;30, buoyed by a sustained supply deficit.

Gold prices rose to their highest in nearly two weeks on Wednesday as US Senate measures on Hong Kong posed a potential roadblock for a trade deal between the United States and China, denting appeal for riskier assets.

Gold prices rose to their highest in nearly two weeks on Wednesday as US Senate measures on Hong Kong posed a potential roadblock for a trade deal between the United States and China, denting appeal for riskier assets. Spot gold was up 0.3 per cent at $1,476.50 an ounce by 1015 GMT and US gold futures rose 0.2 per cent to $1,477. "The US senate passing the Hong Kong democracy bill is raising the further risk of a trade deal running into problems and it's causing some renewed risk-off in the markets," said Saxo Bank commodity strategist Ole Hansen. "We see stocks trading weaker, bond yields moving lower and gold is ticking higher." The US Senate passed two bills backing human rights in Hong Kong and banning the export of certain munitions to the region's police forces. China condemned the move and called for Washington to stop meddling in its internal affairs. European stocks steered away from a recent peak and US 10-year bond yields slipped to their lowest in nearly three weeks, also pressured by US President Donald Trump's threat to raise tariffs on Chinese imports if a trade deal cannot be reached with Beijing. Investor eyes will also be on minutes from the US Federal Reserve's October policy meeting, due at 1900 GMT, for additional cues on the monetary policy outlook. The US central bank cut interest rates three times this year to help to sustain US growth but last month signalled that there would be no further cuts unless the economy takes a turn for the worse. "The market is pricing in one cut over the next 12 months and that will change very quickly on failure to reach a (trade) deal," Saxo Bank's Hansen added. Lower interest rates reduce the opportunity cost for holding non-yielding bullion. Spot gold could rise into a range of $1,480-$1,485 an ounce, according to Reuters technical analyst Wang Tao. Elsewhere, silver was flat at $17.14, platinum was down 0.1 per cent at $909.14 and palladium was little changed at $1,764.50. Palladium prices could continue to firm on supply issues, and $2,000 an ounce is a likely scenario for the autocatalyst metal next year, said Ross Norman, a London-based independent analyst. The metal hit a record high of $1,824.50 on October 30, buoyed by a sustained supply deficit.

Gold gains as souring US-China relations dent risk appetite

The <a href="https://www.wionews.com/south-asia/pakistan-rupee-falls-to-historic-low-against-us-dollar-gdp-growth-expected-to-fall-to-24-per-cent-227151">dollar</a> rose on Wednesday and trade-exposed currencies fell after the US&nbsp;president threatened a trade war escalation and China condemned a US&nbsp;senate measure backing pro-democracy protesters in Hong Kong.

China's yuan slipped to a new two-week low in overnight trading after US&nbsp;President <a href="https://www.wionews.com/world/trump-cook-meeting-culminates-with-visit-to-apple-factory-263332">Donald Trump</a> threatened to raise new tariffs on Chinese imports if ongoing trade negotiations fail.

China condemned the US&nbsp;legislation aimed at protecting human rights in Hong Kong, saying that the US&nbsp;should stop interfering.

After four days of falling, the dollar was up 0.1 per cent&nbsp;against both the euro and a basket of currencies.

"Today the main focus is the trade talks between China and the US&nbsp;and we are seeing risk aversion," said Piotr Matys, currency strategist at Rabobank.

Matys said that the US&nbsp;senate's bill in support of Hong Kong could complicate progress towards a preliminary trade deal.

Markets had hoped that a partial trade deal to end the 16-month US-China trade war could be signed at a summit in <a href="https://www.wionews.com/world/chile-police-suspend-use-of-birdshot-against-protesters-after-outcry-over-eye-injuries-263242">Chile</a>, which was scheduled for mid-November. The summit was cancelled, leaving the outlook for a deal unclear.

Adam Cole, chief currency strategist at RBC Capital Markets said that a preliminary "phase one" trade deal could be reached by the end of the year.

"The prospect of a broader more all-encompassing deal will drag on well into next year," he added.

"The market is worrying (about) this sort of exogenous shock to the process by the build-up of tension in Hong Kong - I ultimately doubt that either side will allow that to delay the process," Cole said.

The Canadian dollar fell against the US&nbsp;dollar to its lowest since October&nbsp;11 after a speech by the <a href="https://www.wionews.com/business-economy/asian-markets-mostly-down-after-mixed-lead-from-wall-street-213578">Bank of Canada</a>'s senior deputy governor boosted the perceived likelihood of a rate cut.&nbsp;

Trade-exposed currencies took a hit from the worsening US-China relations. The Australian and New Zealand dollars were both down 0.4 per cent&nbsp;versus the US&nbsp;dollar.

The Norwegian crown was down 0.9 per cent&nbsp;versus the dollar&nbsp;and 0.7 per cent versus the euro.

The Swedish crown tracked these losses, but to a lesser extent, down 0.4 per cent&nbsp;versus the dollar&nbsp;and 0.7 per cent&nbsp;versus the euro.

Demand for safe-have currencies was relatively unchanged, with the Japanese yen up around 0.1 per cent&nbsp;against the dollar and the Swiss franc flat around 0.9905.

Minutes from the US&nbsp;federal reserve's FOMC meeting in October are due at 19.00 GMT. Analysts expect little impact.

The dollar rose on Wednesday and trade-exposed currencies fell after the US president threatened a trade war escalation and China condemned a US senate measure backing pro-democracy protesters in Hong Kong.

The dollar rose on Wednesday and trade-exposed currencies fell after the US president threatened a trade war escalation and China condemned a US senate measure backing pro-democracy protesters in Hong Kong. China's yuan slipped to a new two-week low in overnight trading after US President Donald Trump threatened to raise new tariffs on Chinese imports if ongoing trade negotiations fail. China condemned the US legislation aimed at protecting human rights in Hong Kong, saying that the US should stop interfering. After four days of falling, the dollar was up 0.1 per cent against both the euro and a basket of currencies. "Today the main focus is the trade talks between China and the US and we are seeing risk aversion," said Piotr Matys, currency strategist at Rabobank. Matys said that the US senate's bill in support of Hong Kong could complicate progress towards a preliminary trade deal. Markets had hoped that a partial trade deal to end the 16-month US-China trade war could be signed at a summit in Chile, which was scheduled for mid-November. The summit was cancelled, leaving the outlook for a deal unclear. Adam Cole, chief currency strategist at RBC Capital Markets said that a preliminary "phase one" trade deal could be reached by the end of the year. "The prospect of a broader more all-encompassing deal will drag on well into next year," he added. "The market is worrying (about) this sort of exogenous shock to the process by the build-up of tension in Hong Kong - I ultimately doubt that either side will allow that to delay the process," Cole said. The Canadian dollar fell against the US dollar to its lowest since October 11 after a speech by the Bank of Canada's senior deputy governor boosted the perceived likelihood of a rate cut. Trade-exposed currencies took a hit from the worsening US-China relations. The Australian and New Zealand dollars were both down 0.4 per cent versus the US dollar. The Norwegian crown was down 0.9 per cent versus the dollar and 0.7 per cent versus the euro. The Swedish crown tracked these losses, but to a lesser extent, down 0.4 per cent versus the dollar and 0.7 per cent versus the euro. Demand for safe-have currencies was relatively unchanged, with the Japanese yen up around 0.1 per cent against the dollar and the Swiss franc flat around 0.9905. Minutes from the US federal reserve's FOMC meeting in October are due at 19.00 GMT. Analysts expect little impact.

Dollar rises as US-China relations worsen over Hong Kong and tariffs

World stocks were knocked off 22-month highs on Wednesday as a renewed flare-up in <a href="https://www.wionews.com/business-economy/asian-markets-slip-amidst-us-china-trade-war-251380">Sino-US&nbsp;tensions</a> and the creeping return of US&nbsp;recession fears fuelled a bid for bonds and other "safe" assets such as gold.

European equities tumbled half a per cent at the open, edging further off recent four-year highs hit when it had appeared Washington and Beijing were about to agree on the first phase of a trade deal. Wall Street futures were marked lower while oil prices suffered their biggest daily loss in seven weeks.

The mood in markets soured after the US&nbsp;Senate angered China by passing a bill requiring annual certification of Hong Kong's autonomy and warning Beijing against violently suppressing protesters. China demanded the United States stop interfering in its internal affairs and said it would retaliate.

US&nbsp;President <a href="https://www.wionews.com/world/trump-cook-meeting-culminates-with-visit-to-apple-factory-263332">Donald Trump</a> also threatened to up tariffs on Chinese goods if a trade deal is not reached soon.

"Markets have taken a bit of a wobble due to the talk about Hong Kong, but they had rallied a lot in recent weeks on expectations of a (trade) deal," said Salman Ahmed, chief investment strategist at Lombard Odier.

Ahmed said both sides needed a deal to be signed -- Trump cannot afford a recession because of his re-election bid next year, while China's economy is slowing markedly.

"I think we are looking at a short-term setback rather than a major issue that would derail the process. The bill still has to be signed into law by Trump so there's a high probability he will use it as leverage against China."

MSCI's index of Asia-Pacific shares ex-Japan tumbled 0.7 per cent,&nbsp;Japan's Nikkei fell 0.8 per cent and Shanghai blue chips lost 1 per cent. MSCI's global index slipped 0.3 per cent, ending a three-day winning streak.

Wall Street was tipped for a weaker start with futures down 0.2 per cent.

US shares closed just below record highs on Tuesday, however, and world stocks remain just 0.5 per cent off all-time peaks hit last year.

"It was noticeable that fixed income markets rallied despite equity markets being stable, suggestive of a market that remains cautious about the growth outlook," ANZ told clients.

US&nbsp;10-year Treasury yields, which have fallen in six out of the past seven sessions, slipped 5 basis points to 1.735 per cent, a 2-1/2 -week low.

German bonds fell for the third straight day to touch a 2-1/2 week low,&nbsp;shrugging off European Central Bank Chief Economist Philip Lane's comment that the eurozone economy would not fall into a recession.

"It's all about the sentiment on trade. We have this classical risk-off trade taking place again," Rainer Guntermann, a rates strategist at Commerzbank, said.

Moves on commodity prices and bond markets imply fears of the economic recession may be creeping back.

Japan's October exports fanned those fears further, tumbling at their quickest rate in three years, with shipments to China and the United States suffering big falls.

US&nbsp;crude stocks rose far more than expected, the American Petroleum Institute said, driving Brent crude&nbsp;into a 2.6&nbsp;per cent&nbsp;slide. Brent fell another half per cent, inching towards the $60 mark last breached three weeks ago.

A marked flattening of the curve the gap between two-year and 10-year yields is at its narrowest in more than two weeks -- also hints at a return of recession fears. The curve inverted earlier this year, returning to normal only after three US&nbsp;interest rate cuts.

But Federal Reserve officials have hinted there will be no further easing, for now, a message the US&nbsp;central bank may reiterate later in the day when it releases minutes from its last meeting. Markets are now pricing in just a 0.8&nbsp;per cent&nbsp;chance of a December rate cut&nbsp;

Dour forecasts from retailers Home Depot and Kohl's also fuelled worries about US consumer spending, which has so far been extremely robust, in contrast to manufacturing.

"We've had a bit of topping out of the U.S. consumer in the past couple of months, possibly we are seeing some catch up between consumer and manufacturing sectors," Lombard Odier's Ahmed said.

On currencies, the dollar nudged lower versus the yen to 108.4&nbsp;but firmed 0.13 per cent&nbsp;versus a basket of currencies. Gold rose 0.4&nbsp;per cent.&nbsp;

World stocks were knocked off 22-month highs on Wednesday as a renewed flare-up in Sino-US tensions and the creeping return of US recession fears fuelled a bid for bonds and other "safe" assets such as gold.

World stocks were knocked off 22-month highs on Wednesday as a renewed flare-up in Sino-US tensions and the creeping return of US recession fears fuelled a bid for bonds and other "safe" assets such as gold. European equities tumbled half a per cent at the open, edging further off recent four-year highs hit when it had appeared Washington and Beijing were about to agree on the first phase of a trade deal. Wall Street futures were marked lower while oil prices suffered their biggest daily loss in seven weeks. The mood in markets soured after the US Senate angered China by passing a bill requiring annual certification of Hong Kong's autonomy and warning Beijing against violently suppressing protesters. China demanded the United States stop interfering in its internal affairs and said it would retaliate. US President Donald Trump also threatened to up tariffs on Chinese goods if a trade deal is not reached soon. "Markets have taken a bit of a wobble due to the talk about Hong Kong, but they had rallied a lot in recent weeks on expectations of a (trade) deal," said Salman Ahmed, chief investment strategist at Lombard Odier. Ahmed said both sides needed a deal to be signed -- Trump cannot afford a recession because of his re-election bid next year, while China's economy is slowing markedly. "I think we are looking at a short-term setback rather than a major issue that would derail the process. The bill still has to be signed into law by Trump so there's a high probability he will use it as leverage against China." MSCI's index of Asia-Pacific shares ex-Japan tumbled 0.7 per cent, Japan's Nikkei fell 0.8 per cent and Shanghai blue chips lost 1 per cent. MSCI's global index slipped 0.3 per cent, ending a three-day winning streak. Wall Street was tipped for a weaker start with futures down 0.2 per cent. US shares closed just below record highs on Tuesday, however, and world stocks remain just 0.5 per cent off all-time peaks hit last year. "It was noticeable that fixed income markets rallied despite equity markets being stable, suggestive of a market that remains cautious about the growth outlook," ANZ told clients. US 10-year Treasury yields, which have fallen in six out of the past seven sessions, slipped 5 basis points to 1.735 per cent, a 2-1/2 -week low. German bonds fell for the third straight day to touch a 2-1/2 week low, shrugging off European Central Bank Chief Economist Philip Lane's comment that the eurozone economy would not fall into a recession. "It's all about the sentiment on trade. We have this classical risk-off trade taking place again," Rainer Guntermann, a rates strategist at Commerzbank, said. Moves on commodity prices and bond markets imply fears of the economic recession may be creeping back. Japan's October exports fanned those fears further, tumbling at their quickest rate in three years, with shipments to China and the United States suffering big falls. US crude stocks rose far more than expected, the American Petroleum Institute said, driving Brent crude into a 2.6 per cent slide. Brent fell another half per cent, inching towards the $60 mark last breached three weeks ago. A marked flattening of the curve the gap between two-year and 10-year yields is at its narrowest in more than two weeks -- also hints at a return of recession fears. The curve inverted earlier this year, returning to normal only after three US interest rate cuts. But Federal Reserve officials have hinted there will be no further easing, for now, a message the US central bank may reiterate later in the day when it releases minutes from its last meeting. Markets are now pricing in just a 0.8 per cent chance of a December rate cut Dour forecasts from retailers Home Depot and Kohl's also fuelled worries about US consumer spending, which has so far been extremely robust, in contrast to manufacturing. "We've had a bit of topping out of the U.S. consumer in the past couple of months, possibly we are seeing some catch up between consumer and manufacturing sectors," Lombard Odier's Ahmed said. On currencies, the dollar nudged lower versus the yen to 108.4 but firmed 0.13 per cent versus a basket of currencies. Gold rose 0.4 per cent.

Flare-up of Sino-US tensions over Hong Kong knocks world shares off 22-month high

Indian sugar mills have produced 485,000 tonnes of the sweetener between Oct. 1 and Nov. 15, down from 1.34 million tonnes last year, the Indian Sugar Mills Association said in a statement on Wednesday.

India is expected to produce 26.85 million tonnes of <a href="https://www.wionews.com/business-economy/indias-sugar-output-seen-falling-global-deficit-rises-fcstone-259213">sugar </a>in the current year that started in October 2019, a 5% drop compared with a previous estimate of 28.2 million tonnes, the producers' body said earlier this month.

The world's second-biggest producer of the sweetener had churned out a record 33.16 million tonnes of sugar in 2018/19.

Indian sugar mills have produced 485,000 tonnes of the sweetener between Oct. 1 and Nov. 15, down from 1.34 million tonnes last year, the Indian Sugar Mills Association said in a statement on Wednesday.

Indian sugar mills have produced 485,000 tonnes of the sweetener between Oct. 1 and Nov. 15, down from 1.34 million tonnes last year, the Indian Sugar Mills Association said in a statement on Wednesday. India is expected to produce 26.85 million tonnes of sugar in the current year that started in October 2019, a 5% drop compared with a previous estimate of 28.2 million tonnes, the producers' body said earlier this month. The world's second-biggest producer of the sweetener had churned out a record 33.16 million tonnes of sugar in 2018/19.

India's October 1-November 15 sugar output down 64%: Industry body

<a href="https://www.wionews.com/business-economy/china-coal-fired-power-capacity-still-rising-bucking-global-trend-study-263298">China</a> on Wednesday cut interest rates in a bid to shore up the world's number two economy as cooling domestic demand and a bruising trade spat with the United States hit growth.

The reduction in the loan prime rate (LPR) -- one of the preferential rates commercial banks impose on their best customers and which serves as a reference for other lending rates,&nbsp;was widely expected after disappointing economic data in October.

The one-year LPR was lowered to 4.15 per cent from 4.20 per cent in October, the <a href="https://www.wionews.com/business-economy/nifty-sensex-tick-up-psu-banks-lead-gains-262835">People's Bank of China</a> (PBoC) said in a statement.

The five-year LPR,&nbsp;on which many lenders base their mortgage rates,&nbsp;was also lowered&nbsp;to 4.8 per cent from 4.85 per cent.&nbsp;

The PBoC announced in August a plan to better reflect market changes with a new benchmark lending rate. The LPR, released on the 20th day of every month, is based on rates of the central bank's open market operations, especially medium-term lending facility rates.

The LPR cut is the latest in a series of measures used to reduce borrowing costs as China attempts to free up funds for credit-starved parts of the economy.&nbsp;

Beijing is struggling to kickstart the economy, which expanded at its lowest pace for nearly three decades in the third quarter, battered by the US trade war, falling global demand for its goods and government battles against debt.

The PBoC on Monday trimmed the seven-day reverse repurchase rate to 2.50 per cent from 2.55 per cent, encouraging commercial banks to lend more to small and medium-sized companies.

However, cutting the LPR will have a "small" impact on the economy&nbsp;since it will "not lower the interest rate on the bulk of outstanding loans that are still linked to the PBoC's traditional lending rate", said Julian Evans-Pritchard at Capital Economics.

The decline in the five-year LPR "hints at a possible softening" of restrictions on property buying put in place to mitigate price bubbles, he wrote in a research note.&nbsp;

China on Wednesday cut interest rates in a bid to shore up the world's number two economy as cooling domestic demand and a bruising trade spat with the United States hit growth.

China on Wednesday cut interest rates in a bid to shore up the world's number two economy as cooling domestic demand and a bruising trade spat with the United States hit growth. The reduction in the loan prime rate (LPR) -- one of the preferential rates commercial banks impose on their best customers and which serves as a reference for other lending rates, was widely expected after disappointing economic data in October. The one-year LPR was lowered to 4.15 per cent from 4.20 per cent in October, the People's Bank of China (PBoC) said in a statement. The five-year LPR, on which many lenders base their mortgage rates, was also lowered to 4.8 per cent from 4.85 per cent. The PBoC announced in August a plan to better reflect market changes with a new benchmark lending rate. The LPR, released on the 20th day of every month, is based on rates of the central bank's open market operations, especially medium-term lending facility rates. The LPR cut is the latest in a series of measures used to reduce borrowing costs as China attempts to free up funds for credit-starved parts of the economy. Beijing is struggling to kickstart the economy, which expanded at its lowest pace for nearly three decades in the third quarter, battered by the US trade war, falling global demand for its goods and government battles against debt. The PBoC on Monday trimmed the seven-day reverse repurchase rate to 2.50 per cent from 2.55 per cent, encouraging commercial banks to lend more to small and medium-sized companies. However, cutting the LPR will have a "small" impact on the economy since it will "not lower the interest rate on the bulk of outstanding loans that are still linked to the PBoC's traditional lending rate", said Julian Evans-Pritchard at Capital Economics. The decline in the five-year LPR "hints at a possible softening" of restrictions on property buying put in place to mitigate price bubbles, he wrote in a research note.

China cuts new benchmark rate to boost economy

Chinese online retail titan<a href="https://www.wionews.com/business-economy/hong-kongs-future-is-bright-says-alibaba-262275"> Alibaba</a> could raise almost $13 billion in Hong Kong's biggest <a href="https://www.wionews.com/business-economy/chinese-ai-start-up-megvii-seeks-approval-for-hong-kong-ipo-of-at-least-500-million-sources-263183">IPO</a> for nearly a decade after pricing its shares for the mega sale, reports said on Wednesday.

Asia's biggest company has called the listing a multi-billion-dollar vote of confidence in the city's markets as it is wracked by months of violent protests and the China-US trade war, which have sent its economy into recession.

Alibaba will sell 500 million shares to investors at HK$176, according to Bloomberg News, below the maximum HK$188 of its indicative price range. The number eight is considered auspicious in China.

That could rake in $11 billion but if it chooses to use its over-allotment option to sell a further 75 million shares, the firm could make HK$101.2 billion ($12.9 billion), the South China Morning Post said.&nbsp;

Even at the low end, the listing would still be Hong Kong's largest initial public offering since&nbsp;insurance giant AIA raised $20.5 billion in 2010.

The company had planned to list in the summer but called it off owing to the city's long-running pro-democracy protests and the China-US trade war.

The firm's shares are already traded in New York. The second listing in Hong Kong is expected to curry favour with Beijing, which has sought to encourage its current and future big tech firms to list nearer to home after the loss of companies such as Baidu to Wall Street.

Mainland authorities have also stepped up moves to attract such listings, including launching a new technology board in Shanghai in July.

The listing comes after the city's exchange tweaked the rules to allow double listings, while Chief Executive <a href="https://www.wionews.com/world/hong-kongs-carrie-lam-says-violence-exceeded-calls-for-democracy-police-defend-officers-who-shot-at-protesters-261394">Carrie Lam</a> had also been pushing Alibaba's billionaire founder <a href="https://www.wionews.com/gravitas?page=8">Jack Ma</a> to sell shares in the city.

Chinese online retail titan Alibaba could raise almost $13 billion in Hong Kong's biggest IPO for nearly a decade after pricing its shares for the mega sale, reports said on Wednesday.

Chinese online retail titan Alibaba could raise almost $13 billion in Hong Kong's biggest IPO for nearly a decade after pricing its shares for the mega sale, reports said on Wednesday. Asia's biggest company has called the listing a multi-billion-dollar vote of confidence in the city's markets as it is wracked by months of violent protests and the China-US trade war, which have sent its economy into recession. Alibaba will sell 500 million shares to investors at HK$176, according to Bloomberg News, below the maximum HK$188 of its indicative price range. The number eight is considered auspicious in China. That could rake in $11 billion but if it chooses to use its over-allotment option to sell a further 75 million shares, the firm could make HK$101.2 billion ($12.9 billion), the South China Morning Post said. Even at the low end, the listing would still be Hong Kong's largest initial public offering since insurance giant AIA raised $20.5 billion in 2010. The company had planned to list in the summer but called it off owing to the city's long-running pro-democracy protests and the China-US trade war. The firm's shares are already traded in New York. The second listing in Hong Kong is expected to curry favour with Beijing, which has sought to encourage its current and future big tech firms to list nearer to home after the loss of companies such as Baidu to Wall Street. Mainland authorities have also stepped up moves to attract such listings, including launching a new technology board in Shanghai in July. The listing comes after the city's exchange tweaked the rules to allow double listings, while Chief Executive Carrie Lam had also been pushing Alibaba's billionaire founder Jack Ma to sell shares in the city.

Alibaba eyes $12.9 billion Hong Kong IPO after setting price: Reports

Indian shares inched higher on Tuesday, driven by banking and telecom stocks after two major mobile network service providers said they planned to raise tariffs from next month.

The NSE Nifty 50 index rose 0.2 per cent&nbsp;to 11,906.25, while the S&amp;P BSE Sensex gained 0.4 per cent&nbsp;to 40,455.36.

"Markets are in a consolidation phase after the recent rally," said A.K Prabhakar, head of research at IDBI Capital.

The Nifty main index has risen over 12 per cent&nbsp;since hitting a six-month low mid-August, supported by government measures to boost investor confidence as Asia's third-largest economy faces slowdown.

Tariff hike announcements by telecom companies will benefit banks as they have a huge exposure to the sector, Prabhakar said.

On Monday, Bharti <a href="https://www.wionews.com/business-economy/airtel-vodafone-idea-shares-jump-after-on-hopes-of-govt-help-262309">Airtel and Vodafone</a> Idea said they would increase mobile tariffs from December, after posting record quarterly losses.

Airtel shares rose 4.8 per cent&nbsp;and were among the top gainers in the Nifty index, while Vodafone shares jumped 18 per cent.

Banking and IT stocks led gains, rising 0.2 per cent&nbsp;to 0.4 per cent.

The Nifty has an immediate support in the range of 11,700-11,800, said Amit&nbsp;Shah, technical research analyst with Indiabulls Ventures, in a note.

The index is poised to hit an all-time high above the 12,100 zone, Shah added.

Indian shares inched higher on Tuesday, driven by banking and telecom stocks after two major mobile network service providers said they planned to raise tariffs from next month.

Indian shares inched higher on Tuesday, driven by banking and telecom stocks after two major mobile network service providers said they planned to raise tariffs from next month. The NSE Nifty 50 index rose 0.2 per cent to 11,906.25, while the S&P BSE Sensex gained 0.4 per cent to 40,455.36. "Markets are in a consolidation phase after the recent rally," said A.K Prabhakar, head of research at IDBI Capital. The Nifty main index has risen over 12 per cent since hitting a six-month low mid-August, supported by government measures to boost investor confidence as Asia's third-largest economy faces slowdown. Tariff hike announcements by telecom companies will benefit banks as they have a huge exposure to the sector, Prabhakar said. On Monday, Bharti Airtel and Vodafone Idea said they would increase mobile tariffs from December, after posting record quarterly losses. Airtel shares rose 4.8 per cent and were among the top gainers in the Nifty index, while Vodafone shares jumped 18 per cent. Banking and IT stocks led gains, rising 0.2 per cent to 0.4 per cent. The Nifty has an immediate support in the range of 11,700-11,800, said Amit Shah, technical research analyst with Indiabulls Ventures, in a note. The index is poised to hit an all-time high above the 12,100 zone, Shah added.

Nifty, Sensex edge higher; bank, telecom stocks gain

Indian shares inched higher on Tuesday, driven by banking and telecom stocks after two major mobile network service providers said they planned to raise tariffs from next month. The NSE Nifty 50 index rose 0.2% to 11,906.25, while the S&P BSE Sensex gained 0.4% to 40,455.36. "Markets are in a consolidation phase after the recent rally," said A.K Prabhakar, head of research at IDBI Capital. The Nifty main index has risen over 12% since hitting a six-month low mid-August, supported by government measures to boost investor confidence as Asia's third-largest economy faces slowdown. Tariff hike announcements by telecom companies will benefit banks as they have huge exposure to the sector, Prabhakar said. On Monday, Bharti Airtel and Vodafone Idea said they would increase mobile tariffs from December, after posting record quarterly losses. Airtel shares rose 4.8% and were among the top gainers in the Nifty index, while Vodafone shares jumped 18%. Banking and IT stocks led gains, rising 0.2% to 0.4%. The Nifty has an immediate support in the range of 11,700-11,800, said Amit Shah, technical research analyst with Indiabulls Ventures, in a note. The index is poised to hit an all-time high above the 12,100 zone, Shah added.

Nifty, Sensex edge higher driven by banking, telecom stocks

OPEC's share of India's oil imports fell to 73 per cent&nbsp;in October, its lowest monthly share since at least 2011, tanker data from sources showed, as refiners shipped in fuel from the United States and other suppliers.

India, which usually imports about 80 per cent of its needs from members of the Organization of the <a href="https://www.wionews.com/business-economy/oil-prices-hold-above-63-on-trade-talk-optimism-opec-262945">Petroleum Exporting Countries</a> (OPEC), has been diversifying its sources of oil as local refiners have upgraded plants to process cheaper crude grades.

India, the world's third-biggest oil importer, shipped in 4.56 million barrels per day (bpd) of oil in October, about 3.3 per cent less compared with a year ago, data showed. Of that, it bought 3.43 million bpd from OPEC.

OPEC's share of India's imports in September was about 81 per cent although&nbsp;total volumes were lower, as the South Asian nation cut imports to a three-year low due to maintenance at some refineries.

OPEC oil output dipped to an eight-year low in September after attacks on Saudi oil plants led to production cuts, a Reuters survey showed. The kingdom's output has since recovered.

In October, Iraq replaced Saudi Arabia as India's top oil supplier, tanker arrival data showed, with refiners cutting purchases of the more expensive Saudi oil.

Sources who supplied the data asked not to be named.

"Saudi had raised its official selling price (OSP). That led to some buyers migrating to Iraqi and other producers," said Ehsan Ul Haq, an analyst with Refinitiv.

Saudi Arabia raised its October OSP for its Arab Light grade for Asia by $0.60/barrel compared to a $0.35/barrel increase in Iraq's Basra Light.

To make up for lower Saudi purchases, India also boosted purchases from Nigeria, its third-biggest supplier in October, as well as from Kuwait and Mexico.

India shipped in a record 336,000 bpd of US&nbsp;oil in October, about 7.5 per cent&nbsp;of total imports, as private refiner Reliance Industries bought three tanker cargoes, data showed. The United States was Indian's fourth-biggest supplier in October.

"Indian demand for Gasoil has been falling but overall Asian demand has been relatively strong because of new marine fuel rules from January. And good diesel cracks is prompting refiners to buy distillate rich crudes like that of Nigeria," Haq said.

Refining margins or cracks for 10 ppm Gasoil traded at $15.46 per barrel over Dubai crude during Asian trade on Monday. Cash premiums for the fuel climbed to 34 per cent&nbsp;barrel to Singapore quotes, compared with 31 cents&nbsp;per barrel on Friday.

India's fuel demand in October declined by 1.4 per cent&nbsp;from a year earlier, and its diesel consumption fell by the steepest in about three years, government data showed on Thursday.

OPEC's share of India's oil imports fell to 73 per cent in October, its lowest monthly share since at least 2011, tanker data from sources showed, as refiners shipped in fuel from the United States and other suppliers.

OPEC's share of India's oil imports fell to 73 per cent in October, its lowest monthly share since at least 2011, tanker data from sources showed, as refiners shipped in fuel from the United States and other suppliers. India, which usually imports about 80 per cent of its needs from members of the Organization of the Petroleum Exporting Countries (OPEC), has been diversifying its sources of oil as local refiners have upgraded plants to process cheaper crude grades. India, the world's third-biggest oil importer, shipped in 4.56 million barrels per day (bpd) of oil in October, about 3.3 per cent less compared with a year ago, data showed. Of that, it bought 3.43 million bpd from OPEC. OPEC's share of India's imports in September was about 81 per cent although total volumes were lower, as the South Asian nation cut imports to a three-year low due to maintenance at some refineries. OPEC oil output dipped to an eight-year low in September after attacks on Saudi oil plants led to production cuts, a Reuters survey showed. The kingdom's output has since recovered. In October, Iraq replaced Saudi Arabia as India's top oil supplier, tanker arrival data showed, with refiners cutting purchases of the more expensive Saudi oil. Sources who supplied the data asked not to be named. "Saudi had raised its official selling price (OSP). That led to some buyers migrating to Iraqi and other producers," said Ehsan Ul Haq, an analyst with Refinitiv. Saudi Arabia raised its October OSP for its Arab Light grade for Asia by $0.60/barrel compared to a $0.35/barrel increase in Iraq's Basra Light. To make up for lower Saudi purchases, India also boosted purchases from Nigeria, its third-biggest supplier in October, as well as from Kuwait and Mexico. India shipped in a record 336,000 bpd of US oil in October, about 7.5 per cent of total imports, as private refiner Reliance Industries bought three tanker cargoes, data showed. The United States was Indian's fourth-biggest supplier in October. "Indian demand for Gasoil has been falling but overall Asian demand has been relatively strong because of new marine fuel rules from January. And good diesel cracks is prompting refiners to buy distillate rich crudes like that of Nigeria," Haq said. Refining margins or cracks for 10 ppm Gasoil traded at $15.46 per barrel over Dubai crude during Asian trade on Monday. Cash premiums for the fuel climbed to 34 per cent barrel to Singapore quotes, compared with 31 cents per barrel on Friday. India's fuel demand in October declined by 1.4 per cent from a year earlier, and its diesel consumption fell by the steepest in about three years, government data showed on Thursday.

OPEC's share of indian oil imports fell down 43% , lowest since 2011

<a href="https://www.wionews.com/business-economy/tata-steel-plans-to-cut-jobs-across-european-operations-262953">Tata&nbsp;Steel plans to cut</a> up to 3,000 jobs across its European operations, the company said on Monday, as the sector wrestles with excess supply, weak demand and high costs.

Earlier, a source close to the discussions told Reuters around 3,000 people would be affected after the group's European chief executive Henrik Adam said&nbsp;Tata&nbsp;was planning to announce job cuts across the European business without giving figures.

In a statement,&nbsp;Tata&nbsp;said it was urgently seeking to improve performance by increasing sales of higher value products, efficiency gains and reducing employment costs by cutting employee numbers by up to 3,000 across its European operations.

Around two-thirds of the job losses are expected to be office-based roles, it said.

Indian-owned&nbsp;Tata&nbsp;Steel, which launched a transformation programme in June to strengthen its European business, has operations including steelmaking in the Netherlands and Wales and downstream operations across Europe.

There will be no plant closures,&nbsp;Tata&nbsp;said, adding the aim was to shield&nbsp;Tata&nbsp;Steel Europe from challenges, such as weak demand, excess capacity and trade issues, and to become cash positive by the end of its financial year ending March 2021.

European steelmakers largely blame China for the extent of a surplus in the market, but the world's biggest steelmaker says it has made its own deep cuts to capacity.

Tata's quest to boost profitability follows a European anti-trust decision to block a joint venture with Germany's Thyssenkrupp.

Tata&nbsp;said in a statement challenging market conditions had been made "worse by the use of Europe as a dumping ground for the world's excess capacity".

In the first six months of its financial year starting April 2019,&nbsp;<a href="https://www.wionews.com/business-economy/tata-steel-reports-rs-3302-crore-q2-profit-260445">Tata&nbsp;Steel</a> Europe reported a drop of 90 per cent&nbsp;in EBITDA (earnings before interest, tax, depreciation and amortisation).

Britain last week said Chinese steelmaker Jingye has signed a provisional deal to buy British Steel, which went into compulsory liquidation in May.

The agreement is politically resonant ahead of British elections as job opportunities have become a major issue. If confirmed, the rescue could save thousands of jobs.

ArcelorMittal, the world's biggest steelmaker, has idled a series of plants across Europe.

Eurofer, which represents the European steel industry, said in an email job losses were "a worrying and upsetting trend" caused by global overcapacity and hesitant demand.

It urged EU policymakers "to help stabilise the EU market by warding off import surges and supporting vital steel sector workers during this challenging period".

Tata Steel plans to cut up to 3,000 jobs across its European operations, the company said on Monday, as the sector wrestles with excess supply, weak demand and high costs.

Tata Steel plans to cut up to 3,000 jobs across its European operations, the company said on Monday, as the sector wrestles with excess supply, weak demand and high costs. Earlier, a source close to the discussions told Reuters around 3,000 people would be affected after the group's European chief executive Henrik Adam said Tata was planning to announce job cuts across the European business without giving figures. In a statement, Tata said it was urgently seeking to improve performance by increasing sales of higher value products, efficiency gains and reducing employment costs by cutting employee numbers by up to 3,000 across its European operations. Around two-thirds of the job losses are expected to be office-based roles, it said. Indian-owned Tata Steel, which launched a transformation programme in June to strengthen its European business, has operations including steelmaking in the Netherlands and Wales and downstream operations across Europe. There will be no plant closures, Tata said, adding the aim was to shield Tata Steel Europe from challenges, such as weak demand, excess capacity and trade issues, and to become cash positive by the end of its financial year ending March 2021. European steelmakers largely blame China for the extent of a surplus in the market, but the world's biggest steelmaker says it has made its own deep cuts to capacity. Tata's quest to boost profitability follows a European anti-trust decision to block a joint venture with Germany's Thyssenkrupp. Tata said in a statement challenging market conditions had been made "worse by the use of Europe as a dumping ground for the world's excess capacity". In the first six months of its financial year starting April 2019, Tata Steel Europe reported a drop of 90 per cent in EBITDA (earnings before interest, tax, depreciation and amortisation). Britain last week said Chinese steelmaker Jingye has signed a provisional deal to buy British Steel, which went into compulsory liquidation in May. The agreement is politically resonant ahead of British elections as job opportunities have become a major issue. If confirmed, the rescue could save thousands of jobs. ArcelorMittal, the world's biggest steelmaker, has idled a series of plants across Europe. Eurofer, which represents the European steel industry, said in an email job losses were "a worrying and upsetting trend" caused by global overcapacity and hesitant demand. It urged EU policymakers "to help stabilise the EU market by warding off import surges and supporting vital steel sector workers during this challenging period".

Tata Steel plans to cut up to 3,000 European jobs due to excess supply, meagre demand

&nbsp;Chinese artificial intelligence (AI) firm <a href="https://www.wionews.com/.../us-expands-blacklist-to-include-chinas-top-ai- startups-ahead-of-trade-talks-254672">Megvii Technology Ltd</a> plans to seek listing approval on Thursday for a Hong Kong initial public offering (IPO) of at least $500 million, people with direct knowledge of the matter said.

However, Beijing-based Megvii, which is backed by e-commerce giant <a href="https://www.wionews.com/.../what-trade-war-chinese-companies-wow-with- third-quarter-report-card-263154">Alibaba </a>Group and is widely known for its facial recognition platform Face++, has yet to decide whether to carry out a roadshow once approval is granted, one of the people said.

Sources had previously told Reuters the listing was scheduled for Hong Kong in the fourth quarter and might raise as much as $1 billion.

The latest move comes weeks after the US&nbsp;government placed Megvii and seven other Chinese companies on a trade blacklist over their alleged involvement in human rights violations related to Beijing's repression of Muslim minority populations in the<a href="https://www.wionews.com/.../leaked-chinese-government-documents-show- details-of-xinjiang-clampdown-report-262676"> Xinjiang Uighur Autonomous Region.</a>

Goldman Sachs, which is a joint sponsor of the Megvii IPO alongside Citigroup and JPMorgan, last month said in an emailed statement in response to a request for comment on the Megvii IPO that it was "evaluating in light of the recent developments".

Megvii last month said it "strongly objects" to being added to the blacklist and there were "no grounds" for the designation. In a statement, it said around 1% of revenues were derived from Xinjiang in 2018 and none in the six months ended June 30.

Megvii and the three banks declined to comment.

Hong Kong, which topped the global charts in 2018 for funds raised through IPOs, has been roiled by nearly six months of political crisis. But IPO activity in the city has picked up since September, marked by AB InBev's Budweiser Brewing Company APAC Ltd, which raised about $5 billion in Hong Kong's biggest IPO so far this year.

Alibaba last week also launched the share sale for its Hong Kong listing, aiming to raise up to $13.4 billion in what would be the biggest follow-on share sale globally in seven years, according to Refinitiv data.

Founded in 2011 by Chief Executive Yin Qi and two friends from Tsinghua University, Megvii will become the first Chinese AI firm to go public if the deal goes ahead.

The company provides AI technology to governments and companies including Alibaba, Ant Financial, Lenovo Group Ltd and Huawei.

Its $750 million fundraising in May valued the company at slightly over $4 billion and attracted investors including Bank of China Group Investment Ltd, Macquarie Group and the Abu Dhabi Investment Authority.

Chinese artificial intelligence (AI) firm Megvii Technology Ltd plans to seek listing approval on Thursday for a Hong Kong initial public offering (IPO) of at least $500 million, people with direct knowledge of the matter said.

Chinese artificial intelligence (AI) firm Megvii Technology Ltd plans to seek listing approval on Thursday for a Hong Kong initial public offering (IPO) of at least $500 million, people with direct knowledge of the matter said. However, Beijing-based Megvii, which is backed by e-commerce giant Alibaba Group and is widely known for its facial recognition platform Face++, has yet to decide whether to carry out a roadshow once approval is granted, one of the people said. Sources had previously told Reuters the listing was scheduled for Hong Kong in the fourth quarter and might raise as much as $1 billion. The latest move comes weeks after the US government placed Megvii and seven other Chinese companies on a trade blacklist over their alleged involvement in human rights violations related to Beijing's repression of Muslim minority populations in the Xinjiang Uighur Autonomous Region. Goldman Sachs, which is a joint sponsor of the Megvii IPO alongside Citigroup and JPMorgan, last month said in an emailed statement in response to a request for comment on the Megvii IPO that it was "evaluating in light of the recent developments". Megvii last month said it "strongly objects" to being added to the blacklist and there were "no grounds" for the designation. In a statement, it said around 1% of revenues were derived from Xinjiang in 2018 and none in the six months ended June 30. Megvii and the three banks declined to comment. Hong Kong, which topped the global charts in 2018 for funds raised through IPOs, has been roiled by nearly six months of political crisis. But IPO activity in the city has picked up since September, marked by AB InBev's Budweiser Brewing Company APAC Ltd, which raised about $5 billion in Hong Kong's biggest IPO so far this year. Alibaba last week also launched the share sale for its Hong Kong listing, aiming to raise up to $13.4 billion in what would be the biggest follow-on share sale globally in seven years, according to Refinitiv data. Founded in 2011 by Chief Executive Yin Qi and two friends from Tsinghua University, Megvii will become the first Chinese AI firm to go public if the deal goes ahead. The company provides AI technology to governments and companies including Alibaba, Ant Financial, Lenovo Group Ltd and Huawei. Its $750 million fundraising in May valued the company at slightly over $4 billion and attracted investors including Bank of China Group Investment Ltd, Macquarie Group and the Abu Dhabi Investment Authority.

Chinese Artificial Intelligence start-up Megvii seeks approval for Hong Kong IPO of at least $500 million: Report

Indian shares ended higher on Tuesday, led by gains in banking stocks, while shares of <a href="https://www.wionews.com/business-economy/airtel-vodafone-idea-shares-jump-after-on-hopes-of-govt-help-262309">telecom companies</a> surged on the back of announcement by the country's two major mobile network service providers that they planned to hike tariffs.

The NSE Nifty 50 index ended 0.47 per cent&nbsp;at 11,940, while the S&amp;P BSE Sensex closed 0.5 per cent&nbsp;higher at 40,469.70.

The Nifty public sector bank index gained 3.9 per cent, while the Nifty energy index rose 1.5 per cent.

"The hope for bank investors is that many cases stuck in the insolvency and bankruptcy code may be sorted out now, taking Essar Steel verdict as precedent," said Amit Kumar Gupta, portfolio manager at Adroit Financial Services Pvt Ltd.

The Supreme Court of India on Friday cleared the path for steelmaker <a href="https://www.wionews.com/business-economy/supreme-court-clears-path-for-arcelormittal-to-acquire-essar-steel-262263">ArcelorMittal SA to take over bankrupt Essar</a> Steel, and the judgment comes as a big reprieve for banks which are struggling with bad loans worth $140 billion.

Shares of Bharti Airtel ended up 7.37 per cent&nbsp;and were one of the top gainers in Nifty 50, with the stock hitting its highest since January&nbsp;24, 2018. Yes Bank shares fell 2.51 per cent&nbsp;to end as the top loser.

Meanwhile, Vodafone Idea shares rose as much as 43.82 per cent&nbsp;during the session.

On Monday, Airtel and Vodafone Idea said they would increase mobile tariffs from December, after posting record, multi-billion-dollar quarterly losses.

Indian shares ended higher on Tuesday, led by gains in banking stocks, while shares of telecom companies surged on the back of announcement by the country's two major mobile network service providers that they planned to hike tariffs.

Indian shares ended higher on Tuesday, led by gains in banking stocks, while shares of telecom companies surged on the back of announcement by the country's two major mobile network service providers that they planned to hike tariffs. The NSE Nifty 50 index ended 0.47 per cent at 11,940, while the S&P BSE Sensex closed 0.5 per cent higher at 40,469.70. The Nifty public sector bank index gained 3.9 per cent, while the Nifty energy index rose 1.5 per cent. "The hope for bank investors is that many cases stuck in the insolvency and bankruptcy code may be sorted out now, taking Essar Steel verdict as precedent," said Amit Kumar Gupta, portfolio manager at Adroit Financial Services Pvt Ltd. The Supreme Court of India on Friday cleared the path for steelmaker ArcelorMittal SA to take over bankrupt Essar Steel, and the judgment comes as a big reprieve for banks which are struggling with bad loans worth $140 billion. Shares of Bharti Airtel ended up 7.37 per cent and were one of the top gainers in Nifty 50, with the stock hitting its highest since January 24, 2018. Yes Bank shares fell 2.51 per cent to end as the top loser. Meanwhile, Vodafone Idea shares rose as much as 43.82 per cent during the session. On Monday, Airtel and Vodafone Idea said they would increase mobile tariffs from December, after posting record, multi-billion-dollar quarterly losses.

Sensex closes at 40,469.70 up by 185.51, Nifty ends at 11,940.10

Snap on Monday confirmed that it checks political ads at <a href="https://www.wionews.com/world/google-servers-cause-problems-for-youtube-snapchat-in-us-223726">Snapchat</a> to make sure they are not deceptive or misleading and thus enforce its ban on such material.

The strategy seems to be a middle ground between Facebook's controversial tolerance of proven lies in political ads and Twitter's decision to ban them altogether.

"We subject all advertising to review, including political advertising," Snap chief executive Evan Spiegel said in a story published by CNBC.

"And I think what we try to do is create a place for political ads on our platform, especially because we reach so many young people and first-time voters we want them to be able to engage with the political conversation, but we don't allow things like misinformation to appear in that advertising."

<a href="https://www.wionews.com/business-economy/snap-adds-games-to-snapchat-app-to-hold-on-to-young-users-208064">Snap policies</a> prohibit political ads that are deceptive or misleading, with an in-house team reviewing such paid messages to make sure they don't break the rules.

Twitter last week said its ban on political ads will exempt "caused-based" messages on topics related to social or environmental issues.

The San Francisco-based messaging platform plans to bar all paid political messages starting November 22, while addressing concerns expressed by activists for social causes.

"Ads that educate, raise awareness, and/or call for people to take action in connection with civic engagement, economic growth, environmental stewardship, or social equity causes are allowed," Twitter said in its new policy.

"However, they may not reference prohibited political advertisers or political content."

<a href="https://www.wionews.com/world/twitter-tightens-bans-on-political-ads-and-causes-ahead-of-2020-us-election-262497">Twitter announced the political ad ban</a> on October 30, saying the move was aimed at countering the spread of misinformation by politicians.

The political ban has drawn mixed reactions: some argue it puts pressure on Facebook to follow suit or take other steps to curb the spread of misinformation from politicians; others say a ban will be difficult to enforce.

Social media platforms have been challenged by President Donald Trump's campaign and its use of ads that contain claims which critics say have been debunked by independent fact-checkers.

Some analysts point out that the ban will not affect "organic" content or messages from politicians that are shared or retweeted by supporters, and that it could encourage the use of "bots" or paid users to amplify the tweets.

Facebook CEO Mark Zuckerberg has said political advertising is not a major source of revenue but adds that he believes it is important to allow everyone a "voice," and that banning political ads would favour incumbents.

Snap on Monday confirmed that it checks political ads at Snapchat to make sure they are not deceptive or misleading and thus enforce its ban on such material. The strategy seems to be a middle ground between Facebook's controversial tolerance of proven lies in political ads and Twitter's decision to ban them altogether.

Snap on Monday confirmed that it checks political ads at Snapchat to make sure they are not deceptive or misleading and thus enforce its ban on such material. The strategy seems to be a middle ground between Facebook's controversial tolerance of proven lies in political ads and Twitter's decision to ban them altogether. "We subject all advertising to review, including political advertising," Snap chief executive Evan Spiegel said in a story published by CNBC. "And I think what we try to do is create a place for political ads on our platform, especially because we reach so many young people and first-time voters we want them to be able to engage with the political conversation, but we don't allow things like misinformation to appear in that advertising." Snap policies prohibit political ads that are deceptive or misleading, with an in-house team reviewing such paid messages to make sure they don't break the rules. Twitter last week said its ban on political ads will exempt "caused-based" messages on topics related to social or environmental issues. The San Francisco-based messaging platform plans to bar all paid political messages starting November 22, while addressing concerns expressed by activists for social causes. "Ads that educate, raise awareness, and/or call for people to take action in connection with civic engagement, economic growth, environmental stewardship, or social equity causes are allowed," Twitter said in its new policy. "However, they may not reference prohibited political advertisers or political content." Twitter announced the political ad ban on October 30, saying the move was aimed at countering the spread of misinformation by politicians. The political ban has drawn mixed reactions: some argue it puts pressure on Facebook to follow suit or take other steps to curb the spread of misinformation from politicians; others say a ban will be difficult to enforce. Social media platforms have been challenged by President Donald Trump's campaign and its use of ads that contain claims which critics say have been debunked by independent fact-checkers. Some analysts point out that the ban will not affect "organic" content or messages from politicians that are shared or retweeted by supporters, and that it could encourage the use of "bots" or paid users to amplify the tweets. Facebook CEO Mark Zuckerberg has said political advertising is not a major source of revenue but adds that he believes it is important to allow everyone a "voice," and that banning political ads would favour incumbents.

Snapchat checks for misleading political advertisements to enforce ban

In October this year, a World Economic Forum report&nbsp;highlighted that the average data cost in India is lower than any other country in the world. However,&nbsp;this might not be the scenario from next month.

Two of the country's biggest telecom players have announced that they will be increasing their mobile data rates&nbsp;from December 1.

The announcement came after Vodafone Idea and Bharti Airtel declared losses of about 10 billion dollars in their second quarter.

The companies haven't declared the quantum of the hikes yet.

This is the first time that these companies are increasing their data prices in more than three years.&nbsp;But, why are the companies doing so?

Three years ago, Reliance Jio's entry into the telecom market led to a disruption in the sector after they offered drastically reduced&nbsp;data prices which subsequently led to a price war among the telecom companies.

Recently, Jio started charging 6-paise a minute for calls made to a rival’s network in order to improve its operating performance.

Another reason for the recent data hike is, the Indian government and telecom operators were locked in a legal tussle over the definition of adjusted gross revenue.

In October, the Supreme Court ruled in the government's favour asked companies to pay&nbsp;Rs 92,000 cr to government.

This is a monumental sum;&nbsp;and, to pay this kind of money, Airtel and Vodafone Idea, had to set aside a huge sum. Meaning, their liabilities now run into thousands of crores.

According to a report, Bharti Airtel may face liabilities of a whopping Rs 62187 crores and Vodafone Idea may have to pay about Rs 54184 crores.

Both companies have said that they have no choice but to hike prices if customers want to continue to enjoy world-class digital experiences.

Meanwhile, soon after the announcement of tariff hikes,&nbsp;shares of Bharti Airtel Ltd and Vodafone Idea Ltd surged resulting in Vodafone recording best one-day gain ever.

Airtel's shares closed up 7.37%, their highest since January last year, while Vodafone's stock ended 35.96% higher and recorded its best one-day gain ever during the day's trade.

In October this year, a World Economic Forum report highlighted that the average data cost in India is lower than any other country in the world. However, this might not be the scenario from next month.

In October this year, a World Economic Forum report highlighted that the average data cost in India is lower than any other country in the world. However, this might not be the scenario from next month. Two of the country's biggest telecom players have announced that they will be increasing their mobile data rates from December 1. The announcement came after Vodafone Idea and Bharti Airtel declared losses of about 10 billion dollars in their second quarter. The companies haven't declared the quantum of the hikes yet. This is the first time that these companies are increasing their data prices in more than three years. But, why are the companies doing so? Three years ago, Reliance Jio's entry into the telecom market led to a disruption in the sector after they offered drastically reduced data prices which subsequently led to a price war among the telecom companies. Recently, Jio started charging 6-paise a minute for calls made to a rival’s network in order to improve its operating performance. Another reason for the recent data hike is, the Indian government and telecom operators were locked in a legal tussle over the definition of adjusted gross revenue. In October, the Supreme Court ruled in the government's favour asked companies to pay Rs 92,000 cr to government. This is a monumental sum; and, to pay this kind of money, Airtel and Vodafone Idea, had to set aside a huge sum. Meaning, their liabilities now run into thousands of crores. According to a report, Bharti Airtel may face liabilities of a whopping Rs 62187 crores and Vodafone Idea may have to pay about Rs 54184 crores. Both companies have said that they have no choice but to hike prices if customers want to continue to enjoy world-class digital experiences. Meanwhile, soon after the announcement of tariff hikes, shares of Bharti Airtel Ltd and Vodafone Idea Ltd surged resulting in Vodafone recording best one-day gain ever. Airtel's shares closed up 7.37%, their highest since January last year, while Vodafone's stock ended 35.96% higher and recorded its best one-day gain ever during the day's trade.

Mobile data to become expensive as Indian telecom companies to hike tariffs

<a href="https://www.wionews.com/world/huawei-lawyer-tells-us-jury-spelling-errors-video-shows-rival-stole-trade-secrets-224361">Huawei Technologies&nbsp;</a>has dismissed a new <a href="https://www.wionews.com/world/us-gives-huawei-another-90-days-reprieve-from-ban-amid-economic-blacklist-244165">90-day extension</a> by the Trump administration allowing US&nbsp;firms to continue doing business with the Chinese company as making little difference, repeating that it was being unfairly treated.

US&nbsp;regulators are crafting rules on telecommunications firms that pose national security risks. But after adding Huawei to an economic blacklist in May, the US&nbsp;Commerce Department has allowed it to purchase some American-made goods.

Its 90-day license extensions aim to minimise disruption for its customers, many of which operate networks in rural America.

Huawei said on Monday that the latest extension would not "have a substantial impact on Huawei's business either way".

"This decision does not change the fact that Huawei continues to be treated unfairly either," the Chinese firm said.

The extension comes as the United States and China try to resolve a trade war that has lasted for more than a year, with Huawei one of its most visible targets.

Beijing reiterated on Tuesday that it hopes Chinese companies will be treated fairly.

"We urge the US&nbsp;to stop abusing export controls to discriminate against the firms of another country in the name of national security, and to stop politicizing a trade problem," Foreign Ministry spokesman Geng Shuang said on Tuesday.

Reuters on Sunday reported the 90-day extension after the administration of President Donald Trump had initially planned a two-week reprieve but ran into bureaucratic issues.

"The Temporary General License extension will allow carriers to continue to service customers in some of the most remote areas of the United States who would otherwise be left in the dark," US&nbsp;Commerce Secretary Wilbur Ross said.

"The Department will continue to rigorously monitor sensitive technology exports to ensure that our innovations are not harnessed by those who would threaten our national security," Ross said in a statement on Monday.

The US&nbsp;Commerce Department added Huawei to its "Entity List" in May, concluding it was engaged in activities "contrary to US&nbsp;national security or foreign policy interests."

Huawei said the decision to add it to the list had caused more harm to the US&nbsp;than to Huawei.

"This has done significant economic harm to the American companies with which Huawei does business," it added.

In May, Trump also signed an executive order declaring a national emergency and barring US&nbsp;companies from using telecommunications equipment made by companies posing a national security risk. The Commerce Department was directed to draw up an enforcement plan by mid-October but has yet to publish one.

Huawei Technologies has dismissed a new 90-day extension by the Trump administration allowing US firms to continue doing business with the Chinese company as making little difference, repeating that it was being unfairly treated.

Huawei Technologies has dismissed a new 90-day extension by the Trump administration allowing US firms to continue doing business with the Chinese company as making little difference, repeating that it was being unfairly treated. US regulators are crafting rules on telecommunications firms that pose national security risks. But after adding Huawei to an economic blacklist in May, the US Commerce Department has allowed it to purchase some American-made goods. Its 90-day license extensions aim to minimise disruption for its customers, many of which operate networks in rural America. Huawei said on Monday that the latest extension would not "have a substantial impact on Huawei's business either way". "This decision does not change the fact that Huawei continues to be treated unfairly either," the Chinese firm said. The extension comes as the United States and China try to resolve a trade war that has lasted for more than a year, with Huawei one of its most visible targets. Beijing reiterated on Tuesday that it hopes Chinese companies will be treated fairly. "We urge the US to stop abusing export controls to discriminate against the firms of another country in the name of national security, and to stop politicizing a trade problem," Foreign Ministry spokesman Geng Shuang said on Tuesday. Reuters on Sunday reported the 90-day extension after the administration of President Donald Trump had initially planned a two-week reprieve but ran into bureaucratic issues. "The Temporary General License extension will allow carriers to continue to service customers in some of the most remote areas of the United States who would otherwise be left in the dark," US Commerce Secretary Wilbur Ross said. "The Department will continue to rigorously monitor sensitive technology exports to ensure that our innovations are not harnessed by those who would threaten our national security," Ross said in a statement on Monday. The US Commerce Department added Huawei to its "Entity List" in May, concluding it was engaged in activities "contrary to US national security or foreign policy interests." Huawei said the decision to add it to the list had caused more harm to the US than to Huawei. "This has done significant economic harm to the American companies with which Huawei does business," it added. In May, Trump also signed an executive order declaring a national emergency and barring US companies from using telecommunications equipment made by companies posing a national security risk. The Commerce Department was directed to draw up an enforcement plan by mid-October but has yet to publish one.

Huawei plays down impact of new US license extension

Gold held steady on Tuesday, after hitting its highest since November&nbsp;7 earlier in the session, as doubts about a trade deal between the United States and China dented risk sentiment.

Spot gold was little changed at $1,471.90 per ounce as of 0559 GMT.

US&nbsp;gold futures inched up 0.07 per cent&nbsp;to $1,472.90 per ounce.

"We're not seeing any big moves at the moment and given the proximity to the $1,490-level, movements will be sideways in the short term, unless Beijing or Washington come and say that a trade deal is unlikely," said Michael McCarthy, chief market strategist at CMC Markets.

Asian share markets were mixed as another day awaiting clearer news on the progress of the trade negotiations left investors bereft of trading motivation.

Overnight, CNBC had reported the mood in Beijing was pessimistic about the prospects of sealing an agreement.

"The to and fro between the two parties surrounding the first phase of the deal is keeping prices in a tight range," ANZ analyst Daniel Hynes said.

"Lingering global economic scenario and a weaker dollar is providing some support to gold."

The dollar held near a two-week low.

Market participants also kept a close eye on the unrest in<a href="https://www.wionews.com/.../china-appoints-new-police-chief-in-hong-kong- 263113"> Hong Kong</a>, with dozens of protesters in the financial hub staging a dramatic escape from a university campus sealed off by police on Monday.

Gold is considered a safe store of value during economic or political uncertainties.

The focus now shifts to minutes from the US&nbsp;Federal Reserve's last policy meeting this year, due on Wednesday.

The Fed cut rates three times this year in part to offset what it views as damage done by the <a href="https://www.wionews.com/.../china-us-had-constructive-phone-call-on-trade- report-262656">tariff war</a>. But after their meeting in October, policymakers signalled they would lower rates no further unless the economy took a serious turn for the worse.

"It is worth noting that recent gains (in gold) have been led by fast-money interest in the face of (exchange traded fund) ETF outflows, positioning that is fickle amid price volatility," according to MKS PAMP.

Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.6 per cent&nbsp;to 891.79 tonnes on Monday from Friday.

Elsewhere, silver rose 0.6 per cent&nbsp;to $17.12 per ounce, while palladium fell 0.3 per cent&nbsp;to $1,732.93 per ounce.

Platinum advanced 0.5 per cent to $898.10 per ounce.

Gold held steady on Tuesday, after hitting its highest since November 7 earlier in the session, as doubts about a trade deal between the United States and China dented risk sentiment.

Gold held steady on Tuesday, after hitting its highest since November 7 earlier in the session, as doubts about a trade deal between the United States and China dented risk sentiment. Spot gold was little changed at $1,471.90 per ounce as of 0559 GMT. US gold futures inched up 0.07 per cent to $1,472.90 per ounce. "We're not seeing any big moves at the moment and given the proximity to the $1,490-level, movements will be sideways in the short term, unless Beijing or Washington come and say that a trade deal is unlikely," said Michael McCarthy, chief market strategist at CMC Markets. Asian share markets were mixed as another day awaiting clearer news on the progress of the trade negotiations left investors bereft of trading motivation. Overnight, CNBC had reported the mood in Beijing was pessimistic about the prospects of sealing an agreement. "The to and fro between the two parties surrounding the first phase of the deal is keeping prices in a tight range," ANZ analyst Daniel Hynes said. "Lingering global economic scenario and a weaker dollar is providing some support to gold." The dollar held near a two-week low. Market participants also kept a close eye on the unrest in Hong Kong, with dozens of protesters in the financial hub staging a dramatic escape from a university campus sealed off by police on Monday. Gold is considered a safe store of value during economic or political uncertainties. The focus now shifts to minutes from the US Federal Reserve's last policy meeting this year, due on Wednesday. The Fed cut rates three times this year in part to offset what it views as damage done by the tariff war. But after their meeting in October, policymakers signalled they would lower rates no further unless the economy took a serious turn for the worse. "It is worth noting that recent gains (in gold) have been led by fast-money interest in the face of (exchange traded fund) ETF outflows, positioning that is fickle amid price volatility," according to MKS PAMP. Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.6 per cent to 891.79 tonnes on Monday from Friday. Elsewhere, silver rose 0.6 per cent to $17.12 per ounce, while palladium fell 0.3 per cent to $1,732.93 per ounce. Platinum advanced 0.5 per cent to $898.10 per ounce.

Gold prices steady as US-China trade deal doubts linger

India may keep a <a href="https://www.wionews.com/.../india-banned-onion-exports-now-asia-has-eye- watering-prices-253269">ban on onion exports</a> until February because domestic prices have risen after the harvest of summer-sown crops, which were expected to augment supplies, was delayed and damaged by untimely rains, a government official said.

The ban on overseas sales by India, the world's biggest exporter of the bulb, will keep prices elevated in Asia and require importers in Nepal, Bangladesh and Sri Lanka to find other sources to fulfil their demand.

Despite the export ban enacted in September to keep domestic supply inside India, prices have surged after rain and floods during October and November limited onion supply, especially in Maharashtra, the country's biggest producer.

Wholesale onion prices are about 40 rupees (55 cents) per kg, down slightly from 55 rupees earlier this month, the highest in six years, according to data compiled by the state-run National Horticultural Research and Development Foundation.

"We will think about resuming exports once prices come down. Right now it is not possible," a senior government official at the Department of Consumer Affairs said on Monday.

"From January onwards supplies are expected to rise meaningfully. Once prices come down to a comfortable level, say below 20 rupees (per kg), then we can allow exports," he said, asking to remain unidentified because he is not authorized to speak to the media.

A spokeswoman for&nbsp;Ministry of Commerce, which enacted the ban at the request of the Consumer Affairs department, did not immediately respond to an email requesting comment on how long the export ban would last.

Onion growers and government officials expected the ban would be lifted by the middle of November anticipating higher supplies from the summer crop.

Sakharam Darekar, a 79-year-old farmer from the village of Ghodegaon, 180 km (108 miles) east of Mumbai, said that last month's heavy rainfall left fields waterlogged for several days and damaged the onion crop on his 2-acre (0.8 hectares) plot that was ready for harvesting.

The rains have also delayed planting of the winter-sown crop by damaging seedlings in nurseries.

"I want to plant onion but seedlings are not available," said Dinesh Khairnar, a farmer in the Nashik district of Maharashtra.

Since India's ban, onion prices have spiralled in Asia and forcing leading buyers such as Bangladesh and Sri Lanka to source the crop from Myanmar, Egypt, Turkey and China. But the hefty volumes lost will be hard to replace as India exports more than 2 million tonnes onions per year.

"China or Egypt cannot replace the entire Indian supplies. Asian buyers are waiting for Indian supplies," said a Mumbai-based exporter.

India may keep a ban on onion exports until February because domestic prices have risen after the harvest of summer-sown crops, which were expected to augment supplies, was delayed and damaged by untimely rains, a government official said.

India may keep a ban on onion exports until February because domestic prices have risen after the harvest of summer-sown crops, which were expected to augment supplies, was delayed and damaged by untimely rains, a government official said. The ban on overseas sales by India, the world's biggest exporter of the bulb, will keep prices elevated in Asia and require importers in Nepal, Bangladesh and Sri Lanka to find other sources to fulfil their demand. Despite the export ban enacted in September to keep domestic supply inside India, prices have surged after rain and floods during October and November limited onion supply, especially in Maharashtra, the country's biggest producer. Wholesale onion prices are about 40 rupees (55 cents) per kg, down slightly from 55 rupees earlier this month, the highest in six years, according to data compiled by the state-run National Horticultural Research and Development Foundation. "We will think about resuming exports once prices come down. Right now it is not possible," a senior government official at the Department of Consumer Affairs said on Monday. "From January onwards supplies are expected to rise meaningfully. Once prices come down to a comfortable level, say below 20 rupees (per kg), then we can allow exports," he said, asking to remain unidentified because he is not authorized to speak to the media. A spokeswoman for Ministry of Commerce, which enacted the ban at the request of the Consumer Affairs department, did not immediately respond to an email requesting comment on how long the export ban would last. Onion growers and government officials expected the ban would be lifted by the middle of November anticipating higher supplies from the summer crop. Sakharam Darekar, a 79-year-old farmer from the village of Ghodegaon, 180 km (108 miles) east of Mumbai, said that last month's heavy rainfall left fields waterlogged for several days and damaged the onion crop on his 2-acre (0.8 hectares) plot that was ready for harvesting. The rains have also delayed planting of the winter-sown crop by damaging seedlings in nurseries. "I want to plant onion but seedlings are not available," said Dinesh Khairnar, a farmer in the Nashik district of Maharashtra. Since India's ban, onion prices have spiralled in Asia and forcing leading buyers such as Bangladesh and Sri Lanka to source the crop from Myanmar, Egypt, Turkey and China. But the hefty volumes lost will be hard to replace as India exports more than 2 million tonnes onions per year. "China or Egypt cannot replace the entire Indian supplies. Asian buyers are waiting for Indian supplies," said a Mumbai-based exporter.

India may extend onion export ban to February to cap domestic prices

The top 200 Chinese companies spanning consumer, technology, industrial, property and financial industries reported September quarter earnings well ahead of market expectations, setting them up for a strong showing next year, analysts said.

These companies mostly beat lowered market expectations as consumer spending remained strong, boosted by Chinese shoppers who opted to buy at home than to travel abroad, as a weaker yuan inflated travel costs.

Profits at Chinese companies grew 10 per cent&nbsp;in the July-September period, beating the 2 per cent&nbsp;growth rate analysts had predicted, and ahead of&nbsp;China's slowing economic growth rate. Only companies with a market capitalization of over $1 billion and tracked by at least three analysts are covered in this analysis.

"The sectors that were expected to suffer from the <a href="https://www.wionews.com/world/china-us-had-constructive-phone-call-on-trade-report-262656">US-China&nbsp;trade conflict</a> — the tech hardware exporters, textiles and sports goods exporters — have largely outperformed consensus expectations," said Manishi Raychaudhuri, head of equity research at BNP Paribas Asia Pacific.

Raychaudhuri added that earnings growth at Asian companies, excluding Japan, is likely to bounce back in 2020, partly as trade concerns recede.

Below is a report card of the third quarter for Asian companies and expectations for next year.

- Online retail giants <a href="https://www.wionews.com/business-economy/alibaba-launches-134-billion-hong-kong-listing-to-fund-expansion-261906">Alibaba Group Holding Ltd</a> and JD.com Inc posted strong sales as people bought baby products and sports gear. Western luxury and mass-market consumer companies had a good quarter as well.

- Overall, profitability at 1,625 Asian firms fell 5 per cent, versus an expected 6 per cent&nbsp;decline, according to a Reuters analysis of Refinitiv data. Results outperformed estimates for the first time in five quarters.

- Hong Kong-listed firms are not included in this analysis, as most of them announce earnings results on a semi-annual basis.

- Profits at 346 South Korean firms nearly halved, dragged down by lower chip prices and a fluctuation in commodity prices.

- Profit at Samsung Electronics Co Ltd fell 56 per cent. Smaller rival SK Hynix Inc posted its lowest profit in three years. Steelmaker Posco's earnings plunged by a third as iron ore prices rose.

- Profits at 201 Indian firms rose 29.5 per cent, led by consumer staples, financial and healthcare firms and helped by a corporate tax cut.

- Profits at 673 Japanese firms which exclude SoftBank Group Corp, fell 1 per cent, in line with estimates, as the yen firmed and demand fell for export items such as cars and machinery.

- The top three Japanese steelmakers and carmakers Suzuki Motor Corp and Mitsubishi Motors Corp have reduced their annual profit forecasts.

- Analysts expect profits at Asian firms to jump 13 per cent&nbsp;in 2020, versus a 5 per cent&nbsp;estimated increase this year, helped partly by recovering global demand as trade worries ease further.

The top 200 Chinese companies spanning consumer, technology, industrial, property and financial industries reported September quarter earnings well ahead of market expectations, setting them up for a strong showing next year, analysts said.

The top 200 Chinese companies spanning consumer, technology, industrial, property and financial industries reported September quarter earnings well ahead of market expectations, setting them up for a strong showing next year, analysts said. These companies mostly beat lowered market expectations as consumer spending remained strong, boosted by Chinese shoppers who opted to buy at home than to travel abroad, as a weaker yuan inflated travel costs. Profits at Chinese companies grew 10 per cent in the July-September period, beating the 2 per cent growth rate analysts had predicted, and ahead of China's slowing economic growth rate. Only companies with a market capitalization of over $1 billion and tracked by at least three analysts are covered in this analysis. "The sectors that were expected to suffer from the US-China trade conflict — the tech hardware exporters, textiles and sports goods exporters — have largely outperformed consensus expectations," said Manishi Raychaudhuri, head of equity research at BNP Paribas Asia Pacific. Raychaudhuri added that earnings growth at Asian companies, excluding Japan, is likely to bounce back in 2020, partly as trade concerns recede. Below is a report card of the third quarter for Asian companies and expectations for next year. - Online retail giants Alibaba Group Holding Ltd and JD.com Inc posted strong sales as people bought baby products and sports gear. Western luxury and mass-market consumer companies had a good quarter as well. - Overall, profitability at 1,625 Asian firms fell 5 per cent, versus an expected 6 per cent decline, according to a Reuters analysis of Refinitiv data. Results outperformed estimates for the first time in five quarters. - Hong Kong-listed firms are not included in this analysis, as most of them announce earnings results on a semi-annual basis. - Profits at 346 South Korean firms nearly halved, dragged down by lower chip prices and a fluctuation in commodity prices. - Profit at Samsung Electronics Co Ltd fell 56 per cent. Smaller rival SK Hynix Inc posted its lowest profit in three years. Steelmaker Posco's earnings plunged by a third as iron ore prices rose. - Profits at 201 Indian firms rose 29.5 per cent, led by consumer staples, financial and healthcare firms and helped by a corporate tax cut. - Profits at 673 Japanese firms which exclude SoftBank Group Corp, fell 1 per cent, in line with estimates, as the yen firmed and demand fell for export items such as cars and machinery. - The top three Japanese steelmakers and carmakers Suzuki Motor Corp and Mitsubishi Motors Corp have reduced their annual profit forecasts. - Analysts expect profits at Asian firms to jump 13 per cent in 2020, versus a 5 per cent estimated increase this year, helped partly by recovering global demand as trade worries ease further.

What trade war? Chinese companies wow with third quarter report card

British no-frills airline<a href="https://www.wionews.com/world/three-men-detained-after-easyjet-flight-diverted-to-cologne-16684"> EasyJet</a> on Tuesday made initial steps to reduce its carbon footprint, offsetting emissions from all flights in an industry first&nbsp;and revealing research into greener engines.

"I am proud that we have announced that from today we will be the world's first major airline to operate net-zero carbon flights across our whole network," said Chief Executive Johan Lundgren in a results statement.

"We are doing this by offsetting the <a href="https://www.wionews.com/world/joe-biden-unveils-17-trillion-climate-plan-to-end-us-carbon-emissions-by-2050-224374">carbon emissions</a> from the fuel used for all of our flights.

"We recognise that offsetting is only an interim measure, but we want to take action on our carbon emissions now."

The carrier announced the news, expected to cost it around £25 million ($32 million, 29 million euros) in 2020, alongside a modest drop in annual profit as the short-haul sector faced challenging trade.

The carrier added its priority was to work on reducing its carbon footprint in the short term while researching new greener technology in the longer term.

"Through carbon offsetting, EasyJet will invest in projects to reduce carbon and carbon equivalents from the atmosphere," it said.

"EasyJet will compensate&nbsp;for every tonne of CO2 emitted&nbsp;from fuel used for its flights by ensuring there is one tonne less in the atmosphere."

The airline added it would do this by either "reducing CO2 by physically removing it from the air, eg by planting more trees, or by avoiding the release of additional CO2".

EasyJet also said Tuesday that its annual profit after taxation dipped 2.5 per cent to £349 million in the 12 months to the end of September, citing "challenging market conditions".

But revenues jumped 8.3 per cent to £6.4 billion on the back of record passenger numbers.

EasyJet also unveiled a joint research project with Airbus, as part of industry-wide moves towards carbon neutrality.

"The airline will also continue its&nbsp;long-term work to support the development of new technology, including electric planes so that European aviation can move towards becoming net-zero carbon."

It added: "As part of this work,&nbsp;the EasyJet and Airbus partnership has been established,&nbsp;to jointly research the opportunities and challenges of introducing hybrid and electric aircraft for short-haul flying&nbsp;in Europe."&nbsp;

British no-frills airline EasyJet on Tuesday made initial steps to reduce its carbon footprint, offsetting emissions from all flights in an industry first and revealing research into greener engines.

British no-frills airline EasyJet on Tuesday made initial steps to reduce its carbon footprint, offsetting emissions from all flights in an industry first and revealing research into greener engines. "I am proud that we have announced that from today we will be the world's first major airline to operate net-zero carbon flights across our whole network," said Chief Executive Johan Lundgren in a results statement. "We are doing this by offsetting the carbon emissions from the fuel used for all of our flights. "We recognise that offsetting is only an interim measure, but we want to take action on our carbon emissions now." The carrier announced the news, expected to cost it around £25 million ($32 million, 29 million euros) in 2020, alongside a modest drop in annual profit as the short-haul sector faced challenging trade. The carrier added its priority was to work on reducing its carbon footprint in the short term while researching new greener technology in the longer term. "Through carbon offsetting, EasyJet will invest in projects to reduce carbon and carbon equivalents from the atmosphere," it said. "EasyJet will compensate for every tonne of CO2 emitted from fuel used for its flights by ensuring there is one tonne less in the atmosphere." The airline added it would do this by either "reducing CO2 by physically removing it from the air, eg by planting more trees, or by avoiding the release of additional CO2". EasyJet also said Tuesday that its annual profit after taxation dipped 2.5 per cent to £349 million in the 12 months to the end of September, citing "challenging market conditions". But revenues jumped 8.3 per cent to £6.4 billion on the back of record passenger numbers. EasyJet also unveiled a joint research project with Airbus, as part of industry-wide moves towards carbon neutrality. "The airline will also continue its long-term work to support the development of new technology, including electric planes so that European aviation can move towards becoming net-zero carbon." It added: "As part of this work, the EasyJet and Airbus partnership has been established, to jointly research the opportunities and challenges of introducing hybrid and electric aircraft for short-haul flying in Europe."

EasyJet announces steps toward zero-carbon future