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When it comes to budget phones, options are plenty; and now, Xiaomi’s Redmi Note 8 is here to make the competition tougher. But just how good is the phone?

Starting with Note 8's design. The gradient finish with reflective backs might be trendy, but we personally don’t find it attractive. The Redmi Note 8 has the same design language, and this could be a put off for many,&nbsp;especially, the blue colour. But if you like the dual-tone glossy finish, this wouldn't be a deterrent.&nbsp;

The phone doesn’t feel too heavy, but we wish it was a tad thinner. Otherwise, the phone is comfortable to hold and operate. The rounded corners also add to the ergonomics.

The display is pretty good at this price point. It’s vibrant and comes with a small chin and bezels. The 6.3-inch full high-definition+ display is a feast for the eyes as it offers good viewing angles. It is also easily viewable in direct sunlight.

The phone has not one or two, but four rear cameras, a 48-megapixel with an ultra-high-resolution sensor, an 8-megapixel ultra-wide-angle lens to capture landscapes with a wider view, a 2-megapixel macro lens to capture minutest subjects with clarity; and a 2-megapixel depth sensor that allows the camera to create portraits with bokeh background.

<img alt="Redmi Note 8" data-entity-type="file" data-entity-uuid="9faafc41-17e8-4bc2-a3da-94600b17f463" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%287%29_6.jpg" />

<img alt="Redmi Note 8" data-entity-type="file" data-entity-uuid="3460a66a-1f20-4f1a-a9a2-20cde098b4c9" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%285%29_12.jpg" />

<img alt="Redmi Note 8" data-entity-type="file" data-entity-uuid="388c4f0a-a90b-43ae-80b7-3b7d8c279744" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%286%29_5.jpg" />

In terms of photo quality, the results look bright and fairly detailed. Its, 13-megapixel front camera also does a decent job.

Now the question is, how well does it perform?

Xiaomi’s Redmi Note 8 is powered by Qualcomm Snapdragon 665 which helps it to not lag or slowdown.

It also comes with 6 GB of ram and up to 512GB of expandable storage.

Note 8's other features include corning gorilla glass protection on both the sides, a 4000mah high-capacity battery. The phone lasted for over a day on a single charge. It also has dual sim support.

Xiaomi’s Redmi Note 8 comes in three colours, space black, neptune blue, and moonlight white. It is priced at 9,999 rupees.

Overall, the Redmi Note 8 is a strong contender and passes the 'Tech it out Test' with flying colours.

When it comes to budget phones, options are plenty; and now, Xiaomi’s Redmi Note 8 is here to make the competition tougher. But just how good is the phone? Starting with Note 8's design.

When it comes to budget phones, options are plenty; and now, Xiaomi’s Redmi Note 8 is here to make the competition tougher. But just how good is the phone? Starting with Note 8's design. The gradient finish with reflective backs might be trendy, but we personally don’t find it attractive. The Redmi Note 8 has the same design language, and this could be a put off for many, especially, the blue colour. But if you like the dual-tone glossy finish, this wouldn't be a deterrent. The phone doesn’t feel too heavy, but we wish it was a tad thinner. Otherwise, the phone is comfortable to hold and operate. The rounded corners also add to the ergonomics. The display is pretty good at this price point. It’s vibrant and comes with a small chin and bezels. The 6.3-inch full high-definition+ display is a feast for the eyes as it offers good viewing angles. It is also easily viewable in direct sunlight. The phone has not one or two, but four rear cameras, a 48-megapixel with an ultra-high-resolution sensor, an 8-megapixel ultra-wide-angle lens to capture landscapes with a wider view, a 2-megapixel macro lens to capture minutest subjects with clarity; and a 2-megapixel depth sensor that allows the camera to create portraits with bokeh background. In terms of photo quality, the results look bright and fairly detailed. Its, 13-megapixel front camera also does a decent job. Now the question is, how well does it perform? Xiaomi’s Redmi Note 8 is powered by Qualcomm Snapdragon 665 which helps it to not lag or slowdown. It also comes with 6 GB of ram and up to 512GB of expandable storage. Note 8's other features include corning gorilla glass protection on both the sides, a 4000mah high-capacity battery. The phone lasted for over a day on a single charge. It also has dual sim support. Xiaomi’s Redmi Note 8 comes in three colours, space black, neptune blue, and moonlight white. It is priced at 9,999 rupees. Overall, the Redmi Note 8 is a strong contender and passes the 'Tech it out Test' with flying colours.

Phone review: How good is the new Xiaomi’s Redmi Note 8

Suzuki Motor Corp reported on Tuesday a 32% fall in second-quarter operating profit, weighed by a slowdown in domestic output as the automaker improves its inspection processes, and a slump in India, its biggest market.

Japan's fourth-largest automaker posted an operating profit of 55.9 billion yen ($513.83 million) for the July-September quarter, down from 82 billion yen a year ago but above a mean forecast for 44.87 billion yen from nine analysts according to Refinitiv data.

Last month, Suzuki cut full-year operating profit forecast by nearly 40% to 200 billion yen, which would be a 4-year low, as it takes a hit from measures to improve its final inspection system for cars sold in Japan, and slowing demand in India.

Suzuki Motor Corp reported on Tuesday a 32% fall in second-quarter operating profit, weighed by a slowdown in domestic output as the automaker improves its inspection processes, and a slump in India, its biggest market.

Suzuki Motor Corp reported on Tuesday a 32% fall in second-quarter operating profit, weighed by a slowdown in domestic output as the automaker improves its inspection processes, and a slump in India, its biggest market. Japan's fourth-largest automaker posted an operating profit of 55.9 billion yen ($513.83 million) for the July-September quarter, down from 82 billion yen a year ago but above a mean forecast for 44.87 billion yen from nine analysts according to Refinitiv data. Last month, Suzuki cut full-year operating profit forecast by nearly 40% to 200 billion yen, which would be a 4-year low, as it takes a hit from measures to improve its final inspection system for cars sold in Japan, and slowing demand in India.

Suzuki Motor's second-quarter profit falls 32%, hit by demand slump in India

Indian shares jumped on Monday, extending gains to a seventh straight session, boosted by the government's plan to offer more capital to finance the country's infrastructure needs and reports of further tax reforms.

Indian shares jumped on Monday, extending gains to a seventh straight session, boosted by the government's plan to offer more capital to finance the country's infrastructure needs and reports of further tax reforms. The NSE Nifty 50 Index was up 0.56% at 11,957.80, as of 0415 GMT, while the S&P BSE Sensex index was up 0.52% at a record high of 40,375.59. Modi said India is committed to improving its tax regime, according to media reports on Sunday. Meanwhile, in a joint statement on the India-US Economic and Financial Partnership, both countries said they are working to draw more private sector capital to boost the Asian nation's infrastructure. Sentiment was also supported by increasing optimism over a US-China trade deal, which drove broader Asian peers to more than 14-week highs, with Asia-Pacific shares outside Japan rising 1%. Shares of Vedanta Ltd were among the top two gainers on the local indexes, climbing as much as 4.15% in its sharpest intraday gain in more than five weeks. This pushed the Nifty Metals index nearly 3% up to its highest in over three months. The Nifty PSU Bank index, which tracks the country's state-run lenders, rose as much as 1.32%, on track for its seventh straight session of gains, with shares of Central Bank of India rising over 4%. The Nifty IT index inched higher, with shares of software services firm Tata Consultancy Services Ltd adding 1.29%. Shares of telecom operator Vodafone Idea Ltd rose as much as 10.47%. Shares of Housing Development Finance Corporation rose as much as 0.82%, while Bharat Electronics rose as much as 0.7%. Both companies are due to post quarterly results later in the day. Meanwhile, private lender Yes Bank climbed 3% after reversing early losses of up to 15%.. The lender posted a bigger-than-expected quarterly loss on Friday, as asset quality worsened and provisions swelled.

Indian shares extend rally, Sensex hits record peak

Apple said Monday it would commit $2.5 billion over the next two years to help address the shortage of affordable housing in California and reduce homelessness.

The move by Apple follows similar initiatives from Silicon Valley peers Google and Facebook, which each have pledged $1 billion for housing programs.

"Before the world knew the name Silicon Valley, and long before we carried technology in our pockets, Apple called this region home, and we feel a profound civic responsibility to ensure it remains a vibrant place where people can live, have a family and contribute to the community," said Apple chief executive Tim Cook in a statement.

"Affordable housing means stability and dignity, opportunity and pride. When these things fall out of reach for too many, we know the course we are on is unsustainable, and Apple is committed to being part of the solution."

Apple said data showed some 30,000 people left San Francisco between April and June of 2019 and that its efforts are geared to help "community members like teachers, firefighters, first responders and service workers" who cannot find affordable lodging.

Apple said it was working with California Governor Gavin Newsom on several programs to address housing and homelessness.

The iPhone maker said $1 billion will go to the state's affordable housing fund that will extend credit to develop and build additional housing faster and at a lower cost.

Apple also said it would make available land it owns in San Jose worth some $300 million for homes.

The company is committing $200 million to support new lower-income housing in the Bay Area, including $150 for a public-private partnership.

It will also offer $50 million to support the efforts to address homelessness in Silicon Valley with the nonprofit group Destination: Home.

"We have worked closely with leading experts to put together a plan that confronts this challenge on all fronts, from the critical need to increase housing supply, to support for first-time homebuyers and young families, to essential philanthropy to assist those at greatest risk," said Lisa Jackson, Apple's vice president&nbsp;for environment and social initiatives.

Apple said Monday it would commit $2.5 billion over the next two years to help address the shortage of affordable housing in California and reduce homelessness. The move by Apple follows similar initiatives from Silicon Valley peers Google and Facebook, which each have pledged $1 billion for housing programs.

Apple said Monday it would commit $2.5 billion over the next two years to help address the shortage of affordable housing in California and reduce homelessness. The move by Apple follows similar initiatives from Silicon Valley peers Google and Facebook, which each have pledged $1 billion for housing programs. "Before the world knew the name Silicon Valley, and long before we carried technology in our pockets, Apple called this region home, and we feel a profound civic responsibility to ensure it remains a vibrant place where people can live, have a family and contribute to the community," said Apple chief executive Tim Cook in a statement. "Affordable housing means stability and dignity, opportunity and pride. When these things fall out of reach for too many, we know the course we are on is unsustainable, and Apple is committed to being part of the solution." Apple said data showed some 30,000 people left San Francisco between April and June of 2019 and that its efforts are geared to help "community members like teachers, firefighters, first responders and service workers" who cannot find affordable lodging. Apple said it was working with California Governor Gavin Newsom on several programs to address housing and homelessness. The iPhone maker said $1 billion will go to the state's affordable housing fund that will extend credit to develop and build additional housing faster and at a lower cost. Apple also said it would make available land it owns in San Jose worth some $300 million for homes. The company is committing $200 million to support new lower-income housing in the Bay Area, including $150 for a public-private partnership. It will also offer $50 million to support the efforts to address homelessness in Silicon Valley with the nonprofit group Destination: Home. "We have worked closely with leading experts to put together a plan that confronts this challenge on all fronts, from the critical need to increase housing supply, to support for first-time homebuyers and young families, to essential philanthropy to assist those at greatest risk," said Lisa Jackson, Apple's vice president for environment and social initiatives.

Apple offers $2.5 bn to address California housing crisis

India's largest airline IndiGo said on Monday its flights and check-in systems were running normally, after an hours-long outage hit operations at airports, leading to long queues and hassling passengers.

IndiGo said earlier its systems had been down across the network since Monday morning.

"Our system is up now but has disrupted operations across the network," IndiGo said in a Twitter post, adding that it was working to bring operations back to normal.

The outage added to passenger woes as dozens of Indian flights already faced delays or cancellations on Monday, according to reports, due to a decline in visibility because of air pollution shrouding New Delhi, home to the country's busiest airport.

Hassled travellers affected by IndiGo's outage posted pictures on Twitter of long lines at check-in counters at major airports.

"IndiGo says systems down and huge queues till outside the main entrance gates in Mumbai T2. Chaos," one user with the handle @Sathyantweets said in a tweet, referring to Terminal 2 at Mumbai's airport.

IndiGo, owned by Interglobe Aviation Ltd is the country's largest carrier with a nearly 50 per cent&nbsp;share of the domestic market.

Interglobe Aviation's shares had fallen 0.3% by 1505 local time (0935 GMT) in Mumbai, while shares in rival airline SpiceJet Ltd were down 2.4 per cent.

India's largest airline IndiGo said on Monday its flights and check-in systems were running normally, after an hours-long outage hit operations at airports, leading to long queues and hassling passengers.

India's largest airline IndiGo said on Monday its flights and check-in systems were running normally, after an hours-long outage hit operations at airports, leading to long queues and hassling passengers. IndiGo said earlier its systems had been down across the network since Monday morning. "Our system is up now but has disrupted operations across the network," IndiGo said in a Twitter post, adding that it was working to bring operations back to normal. The outage added to passenger woes as dozens of Indian flights already faced delays or cancellations on Monday, according to reports, due to a decline in visibility because of air pollution shrouding New Delhi, home to the country's busiest airport. Hassled travellers affected by IndiGo's outage posted pictures on Twitter of long lines at check-in counters at major airports. "IndiGo says systems down and huge queues till outside the main entrance gates in Mumbai T2. Chaos," one user with the handle @Sathyantweets said in a tweet, referring to Terminal 2 at Mumbai's airport. IndiGo, owned by Interglobe Aviation Ltd is the country's largest carrier with a nearly 50 per cent share of the domestic market. Interglobe Aviation's shares had fallen 0.3% by 1505 local time (0935 GMT) in Mumbai, while shares in rival airline SpiceJet Ltd were down 2.4 per cent.

IndiGo says systems back to normal after outage hits flyers

The Indian arm of US-based Burger King filed for a local initial public offering (IPO) to raise up to 4 billion rupees ($56.6 million) on Monday, as it looks to open more restaurants in a country where international fast-food brands are gaining in popularity.

The Whopper Burger maker, which launched its first restaurant in India in 2014, competes directly with market leader McDonald's Corp and other restaurant chains such as Domino's Pizza.

Burger King India Ltd plans to have 325 stores by December 31, 2020, up from 202 as of June. McDonald's had 470 at last count, according to data by consulting firm Technopak Advisors.

In the year ended March 2019, Burger King India's revenue from operations had risen 67 per cent&nbsp;to 6.33 billion rupees.

Its loss narrowed to 382.8 million rupees in the same period from 822.3 million rupees a year earlier.

"Burger King is going with a national franchise instead of regional ones, and that gives them more control and potentially better growth," Technopak Chairman Arvind Singhal said.

The company plans to use 2.9 billion rupees of the money raised to open new restaurants, according to the company's IPO papers.

The issue includes an offer for sale of up to 60 million equity shares by QSR Asia PTE, which owns 99 per cent&nbsp;of the Indian entity. The company did not disclose pricing details.

Private equity firm Everstone Capital, which operates Burger King India, is considering a private placement of shares worth 1.5 billion rupees ahead of the IPO, according to the draft red herring prospectus.

The company will look to list with the Bombay Stock Exchange as well as the National Stock Exchange.

Kotak Mahindra Capital, CLSA India, Edelweiss Financial Services and JM Financial are lead managers of the IPO.

The Indian arm of US-based Burger King filed for a local initial public offering (IPO) to raise up to 4 billion rupees ($56.6 million) on Monday, as it looks to open more restaurants in a country where international fast-food brands are gaining in popularity.

The Indian arm of US-based Burger King filed for a local initial public offering (IPO) to raise up to 4 billion rupees ($56.6 million) on Monday, as it looks to open more restaurants in a country where international fast-food brands are gaining in popularity. The Whopper Burger maker, which launched its first restaurant in India in 2014, competes directly with market leader McDonald's Corp and other restaurant chains such as Domino's Pizza. Burger King India Ltd plans to have 325 stores by December 31, 2020, up from 202 as of June. McDonald's had 470 at last count, according to data by consulting firm Technopak Advisors. In the year ended March 2019, Burger King India's revenue from operations had risen 67 per cent to 6.33 billion rupees. Its loss narrowed to 382.8 million rupees in the same period from 822.3 million rupees a year earlier. "Burger King is going with a national franchise instead of regional ones, and that gives them more control and potentially better growth," Technopak Chairman Arvind Singhal said. The company plans to use 2.9 billion rupees of the money raised to open new restaurants, according to the company's IPO papers. The issue includes an offer for sale of up to 60 million equity shares by QSR Asia PTE, which owns 99 per cent of the Indian entity. The company did not disclose pricing details. Private equity firm Everstone Capital, which operates Burger King India, is considering a private placement of shares worth 1.5 billion rupees ahead of the IPO, according to the draft red herring prospectus. The company will look to list with the Bombay Stock Exchange as well as the National Stock Exchange. Kotak Mahindra Capital, CLSA India, Edelweiss Financial Services and JM Financial are lead managers of the IPO.

Burger King's India unit looks to raise 4 billion rupees in Initial Public Offering

British Airways owner IAG said on Monday it had agreed to buy Spanish carrier Air Europa for 1 billion euros ($1.12 billion) in cash, bolstering its ability to compete for European travel to Latin America and the Caribbean through Madrid.

Against the backdrop of a challenging environment for airlines globally, the deal is the latest by a big European carrier looking westward to boost traffic and average fares.

Air Europa offers domestic and international flights to 69 destinations, including long-haul routes to Latin America, the United States, and the Caribbean.

"Acquiring Air Europa would add a new competitive, cost-effective airline to IAG, consolidating Madrid as a leading European hub and resulting in IAG achieving South Atlantic leadership," Willie Walsh, chief executive of IAG said.

Europe's third-largest budget carrier Norwegian Air, which has shaken up the market for travel across the Atlantic with cut-price fares, last month signed a partnership with JetBlue Airways to enable European passengers to book straight through to around 100 US&nbsp;cities.

IAG said the agreement with Air Europa was signed by its Spanish unit Iberia and added it expected the deal to close in the second half of next year.

The company, whose profits have taken a hit from pilot strikes, expects the deal to be earnings accretive in the first full year after completion and accretive to return on invested capital by the fourth year.

British Airways owner IAG said on Monday it had agreed to buy Spanish carrier Air Europa for 1 billion euros ($1.12 billion) in cash, bolstering its ability to compete for European travel to Latin America and the Caribbean through Madrid.

British Airways owner IAG said on Monday it had agreed to buy Spanish carrier Air Europa for 1 billion euros ($1.12 billion) in cash, bolstering its ability to compete for European travel to Latin America and the Caribbean through Madrid. Against the backdrop of a challenging environment for airlines globally, the deal is the latest by a big European carrier looking westward to boost traffic and average fares. Air Europa offers domestic and international flights to 69 destinations, including long-haul routes to Latin America, the United States, and the Caribbean. "Acquiring Air Europa would add a new competitive, cost-effective airline to IAG, consolidating Madrid as a leading European hub and resulting in IAG achieving South Atlantic leadership," Willie Walsh, chief executive of IAG said. Europe's third-largest budget carrier Norwegian Air, which has shaken up the market for travel across the Atlantic with cut-price fares, last month signed a partnership with JetBlue Airways to enable European passengers to book straight through to around 100 US cities. IAG said the agreement with Air Europa was signed by its Spanish unit Iberia and added it expected the deal to close in the second half of next year. The company, whose profits have taken a hit from pilot strikes, expects the deal to be earnings accretive in the first full year after completion and accretive to return on invested capital by the fourth year.

British Airways-owner looks westward with 1 billion euros Air Europa purchase

Skullcandy has released another pair of wireless earbuds, the Sesh which does look quite promising, but is the price tag of six thousand rupees justified? Let’s find out.

First, the design; like many other wireless earphones, the Skullcandy Sesh earbuds come in a compact case which easily fits in a pocket. We liked the matte finish&nbsp;the case and the earbuds as well.

The minimalist design of the case has a battery indicator at the front and a charging port at the back.

Coming to ergonomics, Skullcandy Sesh earbuds sit comfortably in your ears and they don’t hurt even if you use it for long hours.

Now let's focus on the performance. The Skullcandy Sesh earbuds are easy to pair with a smartphone. Once done, just wear them and they power on themselves.

The earbuds produce fairly loud and clear audio results but don’t expect a great bass. Given its price, it won’t be fair to expect premium audio features.

It also does a good job at cancelling the ambient sound.

You can use the built-in button to change the track or adjust the volume.

The downside here is that the use of button requires a little extra effort. It would have been better if it had come with touch and tap controls.

The buttons can also be used to take and reject calls. The audio reception during calls is also good.

In terms of battery, the earbuds are decent. They offer three hours of playtime.

The Skullcandy Sesh earbuds are IP55 rated which makes them sweat, water, and dust resistant.

All in all, if you’re looking for a new pair for wireless earbuds, you can consider the new Skullcandy Sesh. It’s not the best in this price range, but it makes for a good competitor.

Skullcandy has released another pair of wireless earbuds, the Sesh which does look quite promising, but is the price tag of six thousand rupees justified? Let’s find out.

Skullcandy has released another pair of wireless earbuds, the Sesh which does look quite promising, but is the price tag of six thousand rupees justified? Let’s find out. First, the design; like many other wireless earphones, the Skullcandy Sesh earbuds come in a compact case which easily fits in a pocket. We liked the matte finish the case and the earbuds as well. The minimalist design of the case has a battery indicator at the front and a charging port at the back. Coming to ergonomics, Skullcandy Sesh earbuds sit comfortably in your ears and they don’t hurt even if you use it for long hours. Now let's focus on the performance. The Skullcandy Sesh earbuds are easy to pair with a smartphone. Once done, just wear them and they power on themselves. The earbuds produce fairly loud and clear audio results but don’t expect a great bass. Given its price, it won’t be fair to expect premium audio features. It also does a good job at cancelling the ambient sound. You can use the built-in button to change the track or adjust the volume. The downside here is that the use of button requires a little extra effort. It would have been better if it had come with touch and tap controls. The buttons can also be used to take and reject calls. The audio reception during calls is also good. In terms of battery, the earbuds are decent. They offer three hours of playtime. The Skullcandy Sesh earbuds are IP55 rated which makes them sweat, water, and dust resistant. All in all, if you’re looking for a new pair for wireless earbuds, you can consider the new Skullcandy Sesh. It’s not the best in this price range, but it makes for a good competitor.

Review: Are Skullcandy Sesh wireless earbuds worth the price?

Asian shares surged on Monday, with a broad regional gauge hitting more than 14-week highs, as growing optimism over US-China trade talks and upbeat US&nbsp;job data boosted global investors' appetite for riskier assets.

MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.08%, touching its highest level since July 24, and on track for its biggest one-day gain since Oct. 11.

Equity markets in Europe were set to follow Asia higher, with pan-region Euro Stoxx 50 futures up 0.53%, German DAX futures 0.49% higher and FTSE futures&nbsp;rising 0.41% in early trading.

In Asia, Hong Kong's Hang Seng rose 1.36%, and Seoul's Kospi added 1.43%. In mainland China, blue chips were up 0.72%, and Australian shares were 0.27% higher.

Markets in Japan were closed for a holiday.

The United States and China both said on Friday that they had made progress in talks aimed at defusing their protracted trade war, and US officials said a deal could be signed this month.

But in a note to clients, analysts at National Australia Bank sounded a note of caution.

"As much as the US-China trade updates continue to point to a Phase 1 deal looking like a certainty, the contentious issues on whether the US&nbsp;will cancel the planned December tariffs and remove some of the current tariffs in line with China's demands remains an unknown and if the issue is not resolved then a deal could easily collapse," they said.

In comments on Friday, White House economic adviser Larry Kudlow said tariffs set to kick in on Dec. 15, which would cover Chinese imports such as laptops, toys and electronics, would remain on the table, and the decision whether to cancel them would be made by US&nbsp;President Donald Trump.

Any lingering uncertainty over the outlook for trade talks was not enough to keep the S&amp;P 500 from gaining 0.97% and the Nasdaq rising 1.13% to fresh record closing highs on Friday.

The Dow Jones Industrial Average&nbsp;rose 1.11%.

On Monday, U.S. S&amp;P 500 e-mini stock futures were up 0.2% at 3,067.8.

US job growth slowed less than expected in October and hiring in the prior two months was stronger than previously estimated, data from the Labor Department showed on Friday.

Those numbers followed a private survey of manufacturers in China that showed better-than-expected factory activity in October.

Rob Carnell, Asia-Pacific chief economist at ING in Singapore, said some market optimism was "probably justified" in the wake of the positive data.

"Everybody had been looking for a much worse number and it didn't materialise, so some bounce from that was entirely plausible and reasonable."

But he added that continued uncertainty over trade talks and less room for monetary easing by global central banks made for a murky outlook.

"It's difficult to see why you wouldn't be at least thinking, there is a 'good profit-taking opportunity right now' and positioning for a slightly worse outcome," he said.

While cash treasuries were not trading due to the Japanese market holiday, US&nbsp;10-year Treasury futures&nbsp;were down 0.11% amid the broadly bullish market mood.

The implied yield on the 10-year Treasury futures contract expiring in December&nbsp;was 1.65%.

Oil prices, which had surged on hopes for a US-China trade deal, pulled back on Monday. Global benchmark Brent crude was off 0.57% at $61.34 per barrel and US&nbsp;West Texas Intermediate crude was 0.55% lower at $55.89.

In the currency market, the dollar was up 0.06% against the yen at 108.23, and the euro was up 0.02% to buy $1.1167.

The dollar index, which tracks the greenback against a basket of six major rivals, was down 0.02% at 97.222.

Those small moves contrasted with a 1.42% jump in the South African rand against the dollar. The currency rallied on relief that Moody's maintained South Africa's investment-grade rating on Friday, though the agency cut its outlook on the rating to "negative".

China's yuan also strengthened, with the positive market tone around trade talks helping it to rise to a 2-1/2 month high against the dollar. It was last up 0.15% at 7.0267 per dollar.

Gold was slightly lower as investors moved into riskier assets. Spot gold was trading at $1,511.52 per ounce, down 0.13%.

Asian shares surged on Monday, with a broad regional gauge hitting more than 14-week highs, as growing optimism over US-China trade talks and upbeat US job data boosted global investors' appetite for riskier assets.

Asian shares surged on Monday, with a broad regional gauge hitting more than 14-week highs, as growing optimism over US-China trade talks and upbeat US job data boosted global investors' appetite for riskier assets. MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.08%, touching its highest level since July 24, and on track for its biggest one-day gain since Oct. 11. Equity markets in Europe were set to follow Asia higher, with pan-region Euro Stoxx 50 futures up 0.53%, German DAX futures 0.49% higher and FTSE futures rising 0.41% in early trading. In Asia, Hong Kong's Hang Seng rose 1.36%, and Seoul's Kospi added 1.43%. In mainland China, blue chips were up 0.72%, and Australian shares were 0.27% higher. Markets in Japan were closed for a holiday. The United States and China both said on Friday that they had made progress in talks aimed at defusing their protracted trade war, and US officials said a deal could be signed this month. But in a note to clients, analysts at National Australia Bank sounded a note of caution. "As much as the US-China trade updates continue to point to a Phase 1 deal looking like a certainty, the contentious issues on whether the US will cancel the planned December tariffs and remove some of the current tariffs in line with China's demands remains an unknown and if the issue is not resolved then a deal could easily collapse," they said. In comments on Friday, White House economic adviser Larry Kudlow said tariffs set to kick in on Dec. 15, which would cover Chinese imports such as laptops, toys and electronics, would remain on the table, and the decision whether to cancel them would be made by US President Donald Trump. Any lingering uncertainty over the outlook for trade talks was not enough to keep the S&P 500 from gaining 0.97% and the Nasdaq rising 1.13% to fresh record closing highs on Friday. The Dow Jones Industrial Average rose 1.11%. On Monday, U.S. S&P 500 e-mini stock futures were up 0.2% at 3,067.8. US job growth slowed less than expected in October and hiring in the prior two months was stronger than previously estimated, data from the Labor Department showed on Friday. Those numbers followed a private survey of manufacturers in China that showed better-than-expected factory activity in October. Rob Carnell, Asia-Pacific chief economist at ING in Singapore, said some market optimism was "probably justified" in the wake of the positive data. "Everybody had been looking for a much worse number and it didn't materialise, so some bounce from that was entirely plausible and reasonable." But he added that continued uncertainty over trade talks and less room for monetary easing by global central banks made for a murky outlook. "It's difficult to see why you wouldn't be at least thinking, there is a 'good profit-taking opportunity right now' and positioning for a slightly worse outcome," he said. While cash treasuries were not trading due to the Japanese market holiday, US 10-year Treasury futures were down 0.11% amid the broadly bullish market mood. The implied yield on the 10-year Treasury futures contract expiring in December was 1.65%. Oil prices, which had surged on hopes for a US-China trade deal, pulled back on Monday. Global benchmark Brent crude was off 0.57% at $61.34 per barrel and US West Texas Intermediate crude was 0.55% lower at $55.89. In the currency market, the dollar was up 0.06% against the yen at 108.23, and the euro was up 0.02% to buy $1.1167. The dollar index, which tracks the greenback against a basket of six major rivals, was down 0.02% at 97.222. Those small moves contrasted with a 1.42% jump in the South African rand against the dollar. The currency rallied on relief that Moody's maintained South Africa's investment-grade rating on Friday, though the agency cut its outlook on the rating to "negative". China's yuan also strengthened, with the positive market tone around trade talks helping it to rise to a 2-1/2 month high against the dollar. It was last up 0.15% at 7.0267 per dollar. Gold was slightly lower as investors moved into riskier assets. Spot gold was trading at $1,511.52 per ounce, down 0.13%.

Asian shares climb to 14-week highs on hopes US, China getting close to trade deal

Infosys Ltd said on Monday it had not yet received any evidence to support the allegations in a whistleblower letter from last month, sending its shares up as much as 6.

Infosys Ltd said on Monday it had not yet received any evidence to support the allegations in a whistleblower letter from last month, sending its shares up as much as 6.5% in early trading. A letter, claimed to have been written by some employees of the company in October, said Chief Executive Officer Salil Parekh asked them and others to bypass approvals for large deals, fearing a negative impact on shares from reduced profit. Infosys shares have lost 10% of their value since the letter surfaced. The US Securities and Exchange Commission (SEC)launched a probe into the claims, and its Indian counterpart, the Securities and Exchange Board of India, asked the company to submit information on the complaints. "With respect to the anonymous complaints, there is no prima facie evidence that the company has received until date to corroborate any of the allegations made," Infosys said in a letter dated Nov. 2 to the National Stock Exchange (NSE). The exchange had asked the company to explain why it had not disclosed the letter. The Bengaluru-based company said since the allegations were not deemed "material", the company was not obligated to disclose them. "If the information in the letter is taken on face value without any investigation, then you can do a grave injustice to the accused, who don't have a chance to defend themselves," said Ramanujam Sridhar, CEO of Brand-Comm, a communications consultancy based in Bengaluru. "It would then be trial by media." Infosys Chairman Nandan Nilekani said last month that Parekh and Chief Financial Officer Nilanjan Roy, who was also accused of misconduct in the letter, were recused from the board's investigation. The complaints are still under investigation and the company is not in a position to determine "concreteness, credibility and materiality of complaints," Infosys said in the letter. Former CEO Vishal Sikka left the company two years ago after a whistleblower complaint. Parekh took over in January last year and laid out a roadmap to revive the company's fortunes, as the sector stared at a slowdown in spending from key clients.

Infosys says no immediate evidence to support whistleblower complaints

Saudi Arabia's market regulator approved on Sunday Saudi Aramco's application to list on the domestic stock market as the kingdom seeks to diversify and create the world's most valuable listed company.&nbsp;

The statement did not give a time frame or say how much Aramco would sell, but sources have told Reuters the oil company could sell 1%-2% of its shares on the local bourse, raising as much $20 billion-$40 billion.

Confirmation of the share sale in Saudi Arabian Oil Co, or Aramco, as the oil giant is usually known, comes about seven weeks after crippling attacks on its oil facilities, underlining Saudi Arabia's determination to push on with the listing regardless. &nbsp; &nbsp;

The IPO of the world's most profitable company is designed to turbocharge Crown Prince Mohammed bin Salman's economic reform agenda by raising billions to diversify the kingdom, whose dependency on oil was highlighted by the production impact of the Sept. 14 attacks. &nbsp;&nbsp;

The Capital Market Authority said its board "has issued its resolution approving the Saudi Arabian Oil Company (Saudi Aramco) ... application for the registration and offering of part of its shares."

CMA said the approval would remain valid for six months.

The listing announcement had been expected on Oct. 20 but was delayed after advisers said they needed more time to lock in cornerstone investors, three sources told Reuters.

To help get the deal done, Saudi Arabia is relying on easy credit for retail investors and hefty contributions from rich locals.

Prince Mohammed gave the green light on Friday for the IPO to go ahead, Reuters reported, citing sources.

Although Crown Prince Mohammed put a $2 trillion valuation on the company in early 2016, bankers and company insiders say Aramco's value is closer to $1.5 trillion.

A growing movement to fight climate change and embrace new "green" technologies have put some fund managers, particularly in Europe and the United States, off the oil and gas sector.

At a valuation of $1.5 trillion, Aramco would still be worth at least 50% more than the world's most valuable companies, Microsoft and Apple, which each have a market capitalisation of about $1 trillion.

But a 1% sale would 'only' raise around $15 billion for Saudi coffers, less than the $25 billion generated by Chinese e-commerce giant Alibaba in its record-breaking IPO in 2014.

It would rank Aramco as the 11th biggest IPO of all time, Refinitiv data show. (For a graphic on the top 10 largest global IPOs.

A sale of 2% of Aramco shares at a $1.5 trillion valuation would make it the biggest IPO of all time, beating Alibaba's.

The prospect of the world's largest oil company selling a piece of itself has had Wall Street on tenterhooks since Crown Prince Mohammed flagged it three years ago.

Initial hopes for a blockbuster international listing of about 5% were dashed when the share sale was halted last year amid debate over where to list Aramco overseas.

Aramco said the IPO timetable was delayed because it began a process to acquire a 70% stake in petrochemicals maker Saudi Basic Industries Corp.

IPO preparations were revived over the summer after Aramco attracted huge interest in its first international bond sale, seen as a pre-IPO relationship-building exercise with investors.

The bond sale forced the secretive company to reveal its finances for the first time, including net income of $111 billion, over a third bigger than the combined net income of the five supermajors Exxon Mobil, Royal Dutch/Shell, BP, Chevron and Total.

Oil majors have been raising payouts to shareholders to counter rising pressure from climate activism.

Aramco has said it will pay a base dividend of $75 billion, which at a valuation of $1.5 trillion would mean a dividend yield of 5%, below those offered by competitors such as Exxon Mobil Corp and Royal Dutch Shell.

Shell's dividend yield is over 6% and Exxon's over 5%, according to Refinitiv data.

Adverse impact

The September attacks on Aramco's largest oil plant, which shut off about 5% of global supply, raised questions about the vulnerability of Aramco's oil fields, plants and exports amid deepening regional tensions.

In its April bond prospectus, Aramco noted that any disruption to its processing facilities could harm its business.

The potential threat to the company's valuation presents a challenge for Yasser al-Rumayyan, head of the kingdom's sovereign wealth fund, who became Aramco chairman in September.

Al-Rumayyan replaced former energy minister Khalid al-Falih in a move to separate Aramco from the ministry ahead of an IPO.

Aramco hired nine banks as joint global coordinators to lead the IPO, including JPMorgan, Morgan Stanley and Saudi Arabia's National Commercial Bank. It added a number of banks as book-runners.

Saudi Arabia's market regulator approved on Sunday Saudi Aramco's application to list on the domestic stock market as the kingdom seeks to diversify and create the world's most valuable listed company.

Saudi Arabia's market regulator approved on Sunday Saudi Aramco's application to list on the domestic stock market as the kingdom seeks to diversify and create the world's most valuable listed company. The statement did not give a time frame or say how much Aramco would sell, but sources have told Reuters the oil company could sell 1%-2% of its shares on the local bourse, raising as much $20 billion-$40 billion. Confirmation of the share sale in Saudi Arabian Oil Co, or Aramco, as the oil giant is usually known, comes about seven weeks after crippling attacks on its oil facilities, underlining Saudi Arabia's determination to push on with the listing regardless. The IPO of the world's most profitable company is designed to turbocharge Crown Prince Mohammed bin Salman's economic reform agenda by raising billions to diversify the kingdom, whose dependency on oil was highlighted by the production impact of the Sept. 14 attacks. The Capital Market Authority said its board "has issued its resolution approving the Saudi Arabian Oil Company (Saudi Aramco) ... application for the registration and offering of part of its shares." CMA said the approval would remain valid for six months. The listing announcement had been expected on Oct. 20 but was delayed after advisers said they needed more time to lock in cornerstone investors, three sources told Reuters. To help get the deal done, Saudi Arabia is relying on easy credit for retail investors and hefty contributions from rich locals. Prince Mohammed gave the green light on Friday for the IPO to go ahead, Reuters reported, citing sources. Although Crown Prince Mohammed put a $2 trillion valuation on the company in early 2016, bankers and company insiders say Aramco's value is closer to $1.5 trillion. A growing movement to fight climate change and embrace new "green" technologies have put some fund managers, particularly in Europe and the United States, off the oil and gas sector. At a valuation of $1.5 trillion, Aramco would still be worth at least 50% more than the world's most valuable companies, Microsoft and Apple, which each have a market capitalisation of about $1 trillion. But a 1% sale would 'only' raise around $15 billion for Saudi coffers, less than the $25 billion generated by Chinese e-commerce giant Alibaba in its record-breaking IPO in 2014. It would rank Aramco as the 11th biggest IPO of all time, Refinitiv data show. (For a graphic on the top 10 largest global IPOs. A sale of 2% of Aramco shares at a $1.5 trillion valuation would make it the biggest IPO of all time, beating Alibaba's. The prospect of the world's largest oil company selling a piece of itself has had Wall Street on tenterhooks since Crown Prince Mohammed flagged it three years ago. Initial hopes for a blockbuster international listing of about 5% were dashed when the share sale was halted last year amid debate over where to list Aramco overseas. Aramco said the IPO timetable was delayed because it began a process to acquire a 70% stake in petrochemicals maker Saudi Basic Industries Corp. IPO preparations were revived over the summer after Aramco attracted huge interest in its first international bond sale, seen as a pre-IPO relationship-building exercise with investors. The bond sale forced the secretive company to reveal its finances for the first time, including net income of $111 billion, over a third bigger than the combined net income of the five supermajors Exxon Mobil, Royal Dutch/Shell, BP, Chevron and Total. Oil majors have been raising payouts to shareholders to counter rising pressure from climate activism. Aramco has said it will pay a base dividend of $75 billion, which at a valuation of $1.5 trillion would mean a dividend yield of 5%, below those offered by competitors such as Exxon Mobil Corp and Royal Dutch Shell. Shell's dividend yield is over 6% and Exxon's over 5%, according to Refinitiv data. Adverse impact The September attacks on Aramco's largest oil plant, which shut off about 5% of global supply, raised questions about the vulnerability of Aramco's oil fields, plants and exports amid deepening regional tensions. In its April bond prospectus, Aramco noted that any disruption to its processing facilities could harm its business. The potential threat to the company's valuation presents a challenge for Yasser al-Rumayyan, head of the kingdom's sovereign wealth fund, who became Aramco chairman in September. Al-Rumayyan replaced former energy minister Khalid al-Falih in a move to separate Aramco from the ministry ahead of an IPO. Aramco hired nine banks as joint global coordinators to lead the IPO, including JPMorgan, Morgan Stanley and Saudi Arabia's National Commercial Bank. It added a number of banks as book-runners.

Saudi regulator approves Aramco share offering

A concentrated burst of interest rate cutting and other measures to loosen global financial conditions by the world's central bankers looks to have largely run its course, and policymakers now appear content to wait and see if their handiwork staves off a deeper slowdown in the months ahead.

Led by the US&nbsp;Federal Reserve's nearly yearlong pivot away from a tightening bias, rate-setters from Australia to Brazil and the eurozone to the Philippines have lowered borrowing costs in recent months to blunt the headwinds from global trade tensions headlined by the standoff between Washington and Beijing.

It is an easing wave that appears to have crested for now.

For their parts, the Big Three in the central bankersphere - the Fed, European Central Bank and Bank of Japan - are in no rush to drive rates any lower, especially in Europe and Japan where they are already in negative territory.

The Fed last week cut rates for the third time since July, but officials emerged from the meeting with a near-explicit declaration to expect no more for the moment.

In Europe, meanwhile, a changing of the guard at a deeply divided ECB likely means that its September rate cut will not be followed in the near future, with their focus instead being on jawboning the trading bloc's political leaders to step up their own efforts at a stimulus.

In Japan, a BOJ weary of expending its limited ammunition has so far avoided cutting rates at all in the latest global wave. It would prefer to hold fire for as long as possible, relying instead of pledges of more accommodation in the future should it be needed.

And in the developing world, the pace of easing has slackened notably from a crescendo reached in August, although October marked the ninth straight month of net rate cuts by emerging market central banks.

How long a pause?

To be sure, the factors allowing policymakers to take a breather may prove fleeting - on the trade front in particular.

In mid-October, the International Monetary Fund pinned the blame on the US-China trade war when it slashed its global growth forecast to the slowest pace since the 2008-2009 financial crisis.

The dispute, initiated by US&nbsp;President Donald Trump, is in a state of detente as the two sides work to complete "Phase One" of a wider deal. But the erratic American president has abruptly changed stance before and may again.

Still, the messaging in the past two weeks from central bankers in Frankfurt and Tokyo was consistent with the Fed's new stance: Let's see how what we've done plays out.

"We see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook," Fed Chair Jerome Powell said in his press conference last week after the US central bank cut its benchmark rate by a quarter-point to a range of 1.50-1.75 per cent.

A solid upside surprise on job growth in October only cemented that view. "We've done the adjustment," Fed Vice Chair Richard Clarida said in an interview on Bloomberg TV after Friday's payrolls report.

The ECB has restarted a 2.6 trillion euro bond-buying program after cutting its interest rate on deposits in September. Back then investors were betting on two further rate cuts by March of next year, but have since pared their expectations as deep divisions emerged among ECB policymakers on the path ahead.

New ECB President Christine Lagarde, who took office on Friday, will have to heal a rift between representatives of cash-rich countries such as Germany, the Netherlands and France, who opposed the decision to resume bond purchases, and the struggling periphery.

The former managing director of the IMF has struck a balanced tone, saying an accommodative monetary policy was needed but also had side effects that needed monitoring.

The issue is that the economic benefits of pushing the deposit rate, currently at -0.5 per cent, further below zero are dubious. Mario Draghi, who just turned over the reins to Lagarde, acknowledged in his farewell speech that the negative rate was "not delivering the same degree of stimulus as in the past" because the return on investment in the economy had fallen.

The BOJ decided to hold fire on Thursday and instead buy time with a tweak to its forward guidance. It now pledges to keep rates ultra-low or even cut them for as long as necessary to gauge whether overseas risks have heightened enough to erode the economy's path toward achieving its 2 per cent&nbsp;inflation target.

While Governor Haruhiko Kuroda has stressed the BOJ still has room to deepen negative rates or take any other steps to spur growth, many analysts see last week's decision as underscoring the central bank's desperation in trying to save its dwindling ammunition for when the economy takes a turn for the worse.

Communication will remain a key challenge for the BOJ even under the new guidance, which removed a specific timeframe on how long interest rates will stay low.

"It's wise the BOJ ditched a calendar-based commitment. But it's hard to tell whether the BOJ committed to keeping rates long for a longer period than it previously did ... and how much lower it could bring down rates," said Nobuyasu Atago, a former BOJ official who is now chief economist at Okasan Securities.

A concentrated burst of interest rate cutting and other measures to loosen global financial conditions by the world's central bankers looks to have largely run its course, and policymakers now appear content to wait and see if their handiwork staves off a deeper slowdown in the months ahead.

A concentrated burst of interest rate cutting and other measures to loosen global financial conditions by the world's central bankers looks to have largely run its course, and policymakers now appear content to wait and see if their handiwork staves off a deeper slowdown in the months ahead. Led by the US Federal Reserve's nearly yearlong pivot away from a tightening bias, rate-setters from Australia to Brazil and the eurozone to the Philippines have lowered borrowing costs in recent months to blunt the headwinds from global trade tensions headlined by the standoff between Washington and Beijing. It is an easing wave that appears to have crested for now. For their parts, the Big Three in the central bankersphere - the Fed, European Central Bank and Bank of Japan - are in no rush to drive rates any lower, especially in Europe and Japan where they are already in negative territory. The Fed last week cut rates for the third time since July, but officials emerged from the meeting with a near-explicit declaration to expect no more for the moment. In Europe, meanwhile, a changing of the guard at a deeply divided ECB likely means that its September rate cut will not be followed in the near future, with their focus instead being on jawboning the trading bloc's political leaders to step up their own efforts at a stimulus. In Japan, a BOJ weary of expending its limited ammunition has so far avoided cutting rates at all in the latest global wave. It would prefer to hold fire for as long as possible, relying instead of pledges of more accommodation in the future should it be needed. And in the developing world, the pace of easing has slackened notably from a crescendo reached in August, although October marked the ninth straight month of net rate cuts by emerging market central banks. How long a pause? To be sure, the factors allowing policymakers to take a breather may prove fleeting - on the trade front in particular. In mid-October, the International Monetary Fund pinned the blame on the US-China trade war when it slashed its global growth forecast to the slowest pace since the 2008-2009 financial crisis. The dispute, initiated by US President Donald Trump, is in a state of detente as the two sides work to complete "Phase One" of a wider deal. But the erratic American president has abruptly changed stance before and may again. Still, the messaging in the past two weeks from central bankers in Frankfurt and Tokyo was consistent with the Fed's new stance: Let's see how what we've done plays out. "We see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook," Fed Chair Jerome Powell said in his press conference last week after the US central bank cut its benchmark rate by a quarter-point to a range of 1.50-1.75 per cent. A solid upside surprise on job growth in October only cemented that view. "We've done the adjustment," Fed Vice Chair Richard Clarida said in an interview on Bloomberg TV after Friday's payrolls report. The ECB has restarted a 2.6 trillion euro bond-buying program after cutting its interest rate on deposits in September. Back then investors were betting on two further rate cuts by March of next year, but have since pared their expectations as deep divisions emerged among ECB policymakers on the path ahead. New ECB President Christine Lagarde, who took office on Friday, will have to heal a rift between representatives of cash-rich countries such as Germany, the Netherlands and France, who opposed the decision to resume bond purchases, and the struggling periphery. The former managing director of the IMF has struck a balanced tone, saying an accommodative monetary policy was needed but also had side effects that needed monitoring. The issue is that the economic benefits of pushing the deposit rate, currently at -0.5 per cent, further below zero are dubious. Mario Draghi, who just turned over the reins to Lagarde, acknowledged in his farewell speech that the negative rate was "not delivering the same degree of stimulus as in the past" because the return on investment in the economy had fallen. The BOJ decided to hold fire on Thursday and instead buy time with a tweak to its forward guidance. It now pledges to keep rates ultra-low or even cut them for as long as necessary to gauge whether overseas risks have heightened enough to erode the economy's path toward achieving its 2 per cent inflation target. While Governor Haruhiko Kuroda has stressed the BOJ still has room to deepen negative rates or take any other steps to spur growth, many analysts see last week's decision as underscoring the central bank's desperation in trying to save its dwindling ammunition for when the economy takes a turn for the worse. Communication will remain a key challenge for the BOJ even under the new guidance, which removed a specific timeframe on how long interest rates will stay low. "It's wise the BOJ ditched a calendar-based commitment. But it's hard to tell whether the BOJ committed to keeping rates long for a longer period than it previously did ... and how much lower it could bring down rates," said Nobuyasu Atago, a former BOJ official who is now chief economist at Okasan Securities.

Big central banks go into 'wait-and-see' mode

The founder of China's smartphone maker Smartisan Technology has been barred from taking flights and high-speed railway trains due to the company's failure to comply with court rulings from a contractual dispute, a local court document showed.

Smartisan is a niche player in China's smartphone sector and is best known for its flamboyant founder Luo Yonghao, who made headlines in recent years with bold statements including a claim that he was planning to acquire Apple.

Luo is also barred from spending at higher quality hotels, night clubs and golf clubs, buying properties and high-premium insurance and sending his children to expensive private schools, according to an order issued by the court of Danyang in eastern China.

The order was issued after the court found the company failed to comply with previous court rulings from a contractual dispute with a local electronics firm, the document said.

Smartisan's smartphone sales in China lag behind players like Huawei, Xiaomi&nbsp;and Oppo. Chinese social media firm ByteDance earlier this year said it was developing a phone with Smartisan after acquiring a set of patents from it.

Smartisan launched a new phone on Thursday. In a video posted on its official Weibo account, Smartisan Chief Operating Officer Wu Dezhou said that most of the Smartisan team had moved to ByteDance following the deal to work on smartphones and education hardware, but that Luo had left the team due to personal reasons.

The founder of China's smartphone maker Smartisan Technology has been barred from taking flights and high-speed railway trains due to the company's failure to comply with court rulings from a contractual dispute, a local court document showed.

The founder of China's smartphone maker Smartisan Technology has been barred from taking flights and high-speed railway trains due to the company's failure to comply with court rulings from a contractual dispute, a local court document showed. Smartisan is a niche player in China's smartphone sector and is best known for its flamboyant founder Luo Yonghao, who made headlines in recent years with bold statements including a claim that he was planning to acquire Apple. Luo is also barred from spending at higher quality hotels, night clubs and golf clubs, buying properties and high-premium insurance and sending his children to expensive private schools, according to an order issued by the court of Danyang in eastern China. The order was issued after the court found the company failed to comply with previous court rulings from a contractual dispute with a local electronics firm, the document said. Smartisan's smartphone sales in China lag behind players like Huawei, Xiaomi and Oppo. Chinese social media firm ByteDance earlier this year said it was developing a phone with Smartisan after acquiring a set of patents from it. Smartisan launched a new phone on Thursday. In a video posted on its official Weibo account, Smartisan Chief Operating Officer Wu Dezhou said that most of the Smartisan team had moved to ByteDance following the deal to work on smartphones and education hardware, but that Luo had left the team due to personal reasons.

Founder of China's smartphone maker Smartisan barred from planes, trains

Apple Inc&nbsp;asked the Trump administration to waive tariffs on Chinese-made Apple Watches, iPhone components, and other consumer products, according to company filings with the US Trade Representative's Office.

The company on Thursday sought tariff exclusions from 11 products, including HomePod speakers, iMac computers, parts for use in repairing iPhones, iPhone smart battery cases, AirPods and others. The public has until November&nbsp;14 to submit comments on the requests.

Apple told the U.S. Trade Representative's Office the products were consumer electronic devices and "not strategically important or related to 'Made in China 2025' or other Chinese industrial programs."

The exclusions seek relief from 15 per cent&nbsp;tariffs that took effect on September&nbsp;1.

FitBit Inc&nbsp;asked the administration to waive tariffs on its fitness trackers. The company told the administration "the vast majority of global production capacity for wrist-wearable communications devices is in China."

The company added that "while Fitbit is aware of facilities currently producing such devices in Taiwan and South Korea, these facilities are fully owned by, or otherwise contracted to, Fitbit competitors that use them for their own branded production, rendering them unavailable to Fitbit." Alphabet Inc&nbsp;announced Friday it has reached a deal to acquire Fitbit.

Apple submitted the requests on the first day the Trump administration began accepting them. An Apple spokesman did not immediately comment.

Apple's wearables and accessories&nbsp;business,&nbsp;which includes the Apple Watch, AirPods and HomePod - brought in $24.5 billion&nbsp;in its fiscal 2019 ended in September, or about 9.4 per cent&nbsp;of Apple's revenue. Sales in the segment were up 41% versus the prior year, and the devices have become an important driver of Apple's&nbsp;business&nbsp;as iPhone sales declined for the past four straight quarters.

Apple chief executive Tim Cook said Wednesday on the company's earnings call the company is paying "some tariffs today, as you know, some that went into effect pre-September and some others that went into effect in September. So we are paying some."

Christie's Inc has asked the administration waive tariffs on Chinese sculptures, statues, paintings, antique furniture and silverware, and other collectible items.

Sea Eagle Boats Inc submitted requests to waive tariffs on inflatable stand up paddleboards.

Apple Inc asked the Trump administration to waive tariffs on Chinese-made Apple Watches, iPhone components, and other consumer products, according to company filings with the US Trade Representative's Office.

Apple Inc asked the Trump administration to waive tariffs on Chinese-made Apple Watches, iPhone components, and other consumer products, according to company filings with the US Trade Representative's Office. The company on Thursday sought tariff exclusions from 11 products, including HomePod speakers, iMac computers, parts for use in repairing iPhones, iPhone smart battery cases, AirPods and others. The public has until November 14 to submit comments on the requests. Apple told the U.S. Trade Representative's Office the products were consumer electronic devices and "not strategically important or related to 'Made in China 2025' or other Chinese industrial programs." The exclusions seek relief from 15 per cent tariffs that took effect on September 1. FitBit Inc asked the administration to waive tariffs on its fitness trackers. The company told the administration "the vast majority of global production capacity for wrist-wearable communications devices is in China." The company added that "while Fitbit is aware of facilities currently producing such devices in Taiwan and South Korea, these facilities are fully owned by, or otherwise contracted to, Fitbit competitors that use them for their own branded production, rendering them unavailable to Fitbit." Alphabet Inc announced Friday it has reached a deal to acquire Fitbit. Apple submitted the requests on the first day the Trump administration began accepting them. An Apple spokesman did not immediately comment. Apple's wearables and accessories business, which includes the Apple Watch, AirPods and HomePod - brought in $24.5 billion in its fiscal 2019 ended in September, or about 9.4 per cent of Apple's revenue. Sales in the segment were up 41% versus the prior year, and the devices have become an important driver of Apple's business as iPhone sales declined for the past four straight quarters. Apple chief executive Tim Cook said Wednesday on the company's earnings call the company is paying "some tariffs today, as you know, some that went into effect pre-September and some others that went into effect in September. So we are paying some." Christie's Inc has asked the administration waive tariffs on Chinese sculptures, statues, paintings, antique furniture and silverware, and other collectible items. Sea Eagle Boats Inc submitted requests to waive tariffs on inflatable stand up paddleboards.

Apple asks United States to waive tariffs on Chinese-made watches, iPhone parts, AirPods

Waymo Chief Executive John Krafcik said the self-driving vehicle company is now offering limited "rider-only" trips in Phoenix, Arizona, as it looks beyond the robo-taxis&nbsp;business&nbsp;to generate future revenue.

Waymo, a unit of Alphabet Inc, has begun offering fully automated rides, without attendants in the vehicle, to a few hundred early users of its robo-taxi service in Phoenix, Krafcik confirmed on Sunday at a dinner with journalists ahead of a conference in Detroit.

He did not say when or how quickly Waymo would expand "rider-only" services. Riders signed up for the fully automated service have signed non-disclosure agreements, he said.

Waymo continues to look for new ways to sell its technology, beyond robo-taxi services, Krafcik said.

The company is testing its so-called automated driver on Peterbilt trucks and plans to expand trucking and commercial delivery applications of its technology as part of a project known internally as "Husky," Krafcik said. Waymo has said it is testing its system on trucks in Michigan, Arizona, and Georgia.

"We think trucking is a really interesting application of the Waymo driver," Krafcik said.

Waymo would consider selling its driver technology to a carmaker that wants to offer automated driving as a feature either branded as Waymo or using the vehicle maker's brand. "Both would be interesting," Krafcik said.

One idea Waymo could consider is supplying its automated driver to a new vehicle, then having the vehicle move later in its life to a ride-sharing fleet, he said.

Waymo has announced agreements to develop self-driving vehicles and services with Renault SA&nbsp;and its Japanese partner Nissan Motor Co, and has deals to use minivans made by Fiat Chrysler Automobiles NV&nbsp;and Jaguar iPace sport utility vehicles in its robo-taxi fleets.

Waymo's careful rollout of self-driving vehicle services comes as many automakers and rival self-driving vehicle companies are scaling back or consolidating their efforts. The high costs and technical challenges of developing a safe, reliable automated driving system coupled with uncertainty about regulation have put a chill on the automated driving industry's previous exuberance.

Backed by Google's capital and computing power, Waymo has continued to grow. The company operates a facility in Detroit to retrofit Chrysler minvans and Jaguar iPace SUVs.

One problem the automated vehicle industry faces is confusion about the terms used to describe the technology, Krafcik said. Tesla Inc&nbsp;markets a system called "Autopilot" that is supposed to require a driver to remain ready to take control of the car. Federal safety regulators are investigating recent fatal crashes involving vehicles on Autopilot.

Other carmakers offer systems that partially automate a vehicle during highway driving or in stop-and-go traffic, and describe them in a variety of terms.

“If you need a driver's license, it’s not self-driving,” Krafcik said.

Waymo Chief Executive John Krafcik said the self-driving vehicle company is now offering limited "rider-only" trips in Phoenix, Arizona, as it looks beyond the robo-taxis business to generate future revenue.

Waymo Chief Executive John Krafcik said the self-driving vehicle company is now offering limited "rider-only" trips in Phoenix, Arizona, as it looks beyond the robo-taxis business to generate future revenue. Waymo, a unit of Alphabet Inc, has begun offering fully automated rides, without attendants in the vehicle, to a few hundred early users of its robo-taxi service in Phoenix, Krafcik confirmed on Sunday at a dinner with journalists ahead of a conference in Detroit. He did not say when or how quickly Waymo would expand "rider-only" services. Riders signed up for the fully automated service have signed non-disclosure agreements, he said. Waymo continues to look for new ways to sell its technology, beyond robo-taxi services, Krafcik said. The company is testing its so-called automated driver on Peterbilt trucks and plans to expand trucking and commercial delivery applications of its technology as part of a project known internally as "Husky," Krafcik said. Waymo has said it is testing its system on trucks in Michigan, Arizona, and Georgia. "We think trucking is a really interesting application of the Waymo driver," Krafcik said. Waymo would consider selling its driver technology to a carmaker that wants to offer automated driving as a feature either branded as Waymo or using the vehicle maker's brand. "Both would be interesting," Krafcik said. One idea Waymo could consider is supplying its automated driver to a new vehicle, then having the vehicle move later in its life to a ride-sharing fleet, he said. Waymo has announced agreements to develop self-driving vehicles and services with Renault SA and its Japanese partner Nissan Motor Co, and has deals to use minivans made by Fiat Chrysler Automobiles NV and Jaguar iPace sport utility vehicles in its robo-taxi fleets. Waymo's careful rollout of self-driving vehicle services comes as many automakers and rival self-driving vehicle companies are scaling back or consolidating their efforts. The high costs and technical challenges of developing a safe, reliable automated driving system coupled with uncertainty about regulation have put a chill on the automated driving industry's previous exuberance. Backed by Google's capital and computing power, Waymo has continued to grow. The company operates a facility in Detroit to retrofit Chrysler minvans and Jaguar iPace SUVs. One problem the automated vehicle industry faces is confusion about the terms used to describe the technology, Krafcik said. Tesla Inc markets a system called "Autopilot" that is supposed to require a driver to remain ready to take control of the car. Federal safety regulators are investigating recent fatal crashes involving vehicles on Autopilot. Other carmakers offer systems that partially automate a vehicle during highway driving or in stop-and-go traffic, and describe them in a variety of terms. “If you need a driver's license, it’s not self-driving,” Krafcik said.

Waymo tests 'rider only' service and looks beyond robo-taxis

A Manhattan judge has dismissed Uber Technologies Inc's lawsuit challenging a New York City law limiting the number of licenses for ride-hailing services, the first such cap by a major American city.

In a decision made public on Friday, New York State Supreme Court Justice Lyle Frank rejected Uber's argument that the city wrongly gave its Taxi and Limousine Commission power to enforce the cap.

Frank was also unconvinced that the cap, part of Local Law 147, would impede state efforts to reduce traffic congestion through "congestion pricing" on vehicles entering high-traffic areas of Manhattan.

"It would appear that LL 147, rather than being in conflict with the congestion pricing law, in fact, appears to complement it," Frank wrote. His decision is dated Oct. 31.

“We’re disappointed that the TLC's cap that punishes drivers who are forced to rent vehicles will remain in effect," Uber said in a statement.

Nicholas Paolucci, a spokesman for the city's law department, said in an email: "Hardworking for-hire vehicle drivers and everyone else impacted by our congested roads should be pleased with this court ruling."

The August 2018 law was meant to give New York City greater oversight of ride-hailing companies such as Uber and Lyft Inc.

It included a one-year freeze on new licenses to for-hire vehicles, which was later extended through August 2020, and also set minimum pay standards for drivers.

The case is separate from Uber's Sept. 20 challenge to a New York City "cruising cap" rule limiting how much time its drivers could spend without passengers in Manhattan south of 96th Street.

Based in San Francisco, Uber has drawn criticism from many cities that its vehicles increase congestion, and commandeer&nbsp;business&nbsp;from taxis.

The value of medallions, which are permits needed to operate yellow taxis in New York City and are distinct from ride-hailing licenses, has plunged as Uber and Lyft gained popularity.

"This cap has been life-saving &amp; is the basis for any group of drivers - Uber or yellow cab - to come out of poverty &amp; instability," Bhairavi Desai, executive director of the New York Taxi Workers Alliance, said on Twitter.

The case is ZEHN-NY LLC et al v City of New York et al, New York State Supreme Court, New York County, No. 151730/2019.

A Manhattan judge has dismissed Uber Technologies Inc's lawsuit challenging a New York City law limiting the number of licenses for ride-hailing services, the first such cap by a major American city.

A Manhattan judge has dismissed Uber Technologies Inc's lawsuit challenging a New York City law limiting the number of licenses for ride-hailing services, the first such cap by a major American city. In a decision made public on Friday, New York State Supreme Court Justice Lyle Frank rejected Uber's argument that the city wrongly gave its Taxi and Limousine Commission power to enforce the cap. Frank was also unconvinced that the cap, part of Local Law 147, would impede state efforts to reduce traffic congestion through "congestion pricing" on vehicles entering high-traffic areas of Manhattan. "It would appear that LL 147, rather than being in conflict with the congestion pricing law, in fact, appears to complement it," Frank wrote. His decision is dated Oct. 31. “We’re disappointed that the TLC's cap that punishes drivers who are forced to rent vehicles will remain in effect," Uber said in a statement. Nicholas Paolucci, a spokesman for the city's law department, said in an email: "Hardworking for-hire vehicle drivers and everyone else impacted by our congested roads should be pleased with this court ruling." The August 2018 law was meant to give New York City greater oversight of ride-hailing companies such as Uber and Lyft Inc. It included a one-year freeze on new licenses to for-hire vehicles, which was later extended through August 2020, and also set minimum pay standards for drivers. The case is separate from Uber's Sept. 20 challenge to a New York City "cruising cap" rule limiting how much time its drivers could spend without passengers in Manhattan south of 96th Street. Based in San Francisco, Uber has drawn criticism from many cities that its vehicles increase congestion, and commandeer business from taxis. The value of medallions, which are permits needed to operate yellow taxis in New York City and are distinct from ride-hailing licenses, has plunged as Uber and Lyft gained popularity. "This cap has been life-saving & is the basis for any group of drivers - Uber or yellow cab - to come out of poverty & instability," Bhairavi Desai, executive director of the New York Taxi Workers Alliance, said on Twitter. The case is ZEHN-NY LLC et al v City of New York et al, New York State Supreme Court, New York County, No. 151730/2019.

Judge dismisses Uber lawsuit opposing New York City vehicle license caps

Saudi Arabia's state oil company kick-started its initial public offering (IPO) on Sunday, announcing its intention to list on the domestic bourse as the kingdom seeks to diversify and create the world's most valuable listed company.

Saudi Arabia's state oil company kick-started its initial public offering (IPO) on Sunday, announcing its intention to list on the domestic bourse as the kingdom seeks to diversify and create the world's most valuable listed company. Aramco did not give a time frame or say how much of the company it would sell, but sources have told Reuters the oil company could offer 1%-2% of its shares on the local bourse, raising as much $20 billion-$40 billion. Aramco said the IPO would be split into two tranches: one each for institutional and individual investors. The percentage of shares to be sold and the purchase price would be determined after the book-building period, it added in a statement. Confirmation of the share sale in Saudi Arabian Oil Co, or Aramco, as the oil giant is usually known, comes about seven weeks after crippling attacks on its oil facilities, underlining Saudi Arabia's determination to push on with the listing regardless. The IPO of the world's most profitable company is designed to turbocharge Crown Prince Mohammed bin Salman's economic reform agenda by raising billions to diversify the kingdom, whose dependency on oil was highlighted by the production impact of the Sept. 14 attacks. Aramco said in Sunday's statement that it posted a net income of $68 billion during the nine-month period ending on September 30. Revenues and other income related to sales for the same period amounted to $244 billion, it added. Aramco plans to release the IPO prospectus on Nov. 10, Saudi-owned news channel Al-Arabiya said on Sunday, citing sources. Aramco said the Saudi market regulator, which approved its application to list on Sunday, had issued an exemption for non-resident institutional foreign investors to subscribe. Saudi nationals would be eligible to receive bonus shares. The listing announcement had been expected on Oct. 20 but was delayed after advisers said they needed more time to lock in cornerstone investors, three sources told Reuters. To help get the deal done, Saudi Arabia is relying on easy credit for retail investors and hefty contributions from rich locals. Valuation challenge Although Prince Mohammed put a $2 trillion valuation on the company in early 2016, bankers and company insiders say Aramco's value is closer to $1.5 trillion. A growing movement to fight climate change and embrace new "green" technologies have put some fund managers, particularly in Europe and the United States, off the oil and gas sector. At a valuation of $1.5 trillion, Aramco would still be worth at least 50% more than the world's most valuable companies, Microsoft and Apple, which each have a market capitalisation of about $1 trillion. But a 1% sale would 'only' raise around $15 billion for Saudi coffers, less than the $25 billion generated by Chinese e-commerce giant Alibaba in its record-breaking IPO in 2014. It would rank Aramco as the 11th biggest IPO of all time, Refinitiv data show. A sale of 2% of Aramco shares at a $1.5 trillion valuation would make it the biggest IPO of all time, beating Alibaba's. The prospect of the world's largest oil company selling a piece of itself has had Wall Street on tenterhooks since Prince Mohammed flagged it three years ago. Initial hopes for a blockbuster international listing of about 5% were dashed when the share sale was halted last year amid debate over where to list Aramco overseas. Aramco said the IPO timetable was delayed because it began a process to acquire a 70% stake in petrochemicals maker Saudi Basic Industries Corp. IPO preparations were revived over the summer after Aramco attracted huge interest in its first international bond sale, seen as a pre-IPO relationship-building exercise with investors. The bond sale forced the secretive company to reveal its finances for the first time, including net income of $111 billion, over a third bigger than the combined net income of the five super majors Exxon Mobil, Royal Dutch/Shell, BP, Chevron and Total. Oil majors have been raising payouts to shareholders to counter rising pressure from climate activism. Aramco said on Sunday it intended to declare aggregate ordinary cash dividends of at least $75 billion in 2020. At a valuation of $1.5 trillion, this would mean a dividend yield of 5%, below those offered by competitors such as Exxon Mobil Corp and Royal Dutch Shell. Shell's dividend yield is over 6% and Exxon's over 5%, according to Refinitiv data. The September attacks on Aramco's largest oil plant, which shut off about 5% of global supply, raised questions about the vulnerability of Aramco's oil fields, plants and exports amid deepening regional tensions. Aramco hired nine banks as joint global coordinators to lead the IPO, including JPMorgan, Morgan Stanley and Saudi Arabia's National Commercial Bank. It added a number of banks as bookrunners.

Saudi Arabia kick-starts IPO of world's largest oil company

Chinese phone giant Huawei said Sunday it was ready to roll out 5G infrastructure across Southeast Asia, dismissing US warnings its tech could be used to hoover up data for Beijing.

The firm has emerged as a key protagonist in the wider US-China trade war that has seen tit-for-tat tariffs imposed on hundreds of billions of dollars worth of goods.

President Donald Trump's administration has warned Huawei's equipment could allow China to spy on other countries and has effectively blocked American companies from selling US technology to the firm.

But the company has repeatedly denied the accusations, saying it is the victim of tech envy.

Thailand and the Philippines have shrugged off the cybersecurity warnings in a rush to exploit the ultra-fast 5G network promised by China's biggest smartphone maker, while Vietnam has edged away from Huawei.

"China and the US now is in the trade war and also there is some kind of technology war (which) Huawei is very focused on at the moment," said Huawei vice-president Edward Zhou at the Association of Southeast Asian (ASEAN) summit on Sunday.

"We are here to support the ASEAN (in) the development for the 5G."

Encompassing hundreds of millions of people, the 10-member bloc wants the next-level technology to help businesses, infrastructure and transport compete globally.

Host country Thailand has welcomed Huawei with open arms, allowing it to set up a testbed at a major university near the Thai capital.

A Huawei spokesperson previously told AFP it had invested $5 billion in the trials and has been invited to conduct similar tests in other Southeast Asian markets.

Elsewhere the Philippines' Globe Telecom said this summer it was launching Southeast Asia's first 5G broadband service using Huawei technology.&nbsp;

Both Thailand and the Philippines are historic US allies and some see the tangle over 5G as a challenge of influence between the two powers.

But not all countries have been eager to sign up.

Vietnam has quietly sided with the US on the issue, shunning the Chinese firm in favour of alternative providers for 5G technology, including Ericsson and Nokia.&nbsp;

The country's military-owned telecoms giant Viettel hopes to be the first to roll out 5G in Hanoi and Ho Chi Minh City, and has said it plans to do so without Huawei, citing security concerns. &nbsp;

Zhou reiterated past statements by the company brushing aside the US claims.

"There is not any cybersecurity issues for us. There is no evidence for the US to say that," he said.

Chinese phone giant Huawei said Sunday it was ready to roll out 5G infrastructure across Southeast Asia, dismissing US warnings its tech could be used to hoover up data for Beijing.

Chinese phone giant Huawei said Sunday it was ready to roll out 5G infrastructure across Southeast Asia, dismissing US warnings its tech could be used to hoover up data for Beijing. The firm has emerged as a key protagonist in the wider US-China trade war that has seen tit-for-tat tariffs imposed on hundreds of billions of dollars worth of goods. President Donald Trump's administration has warned Huawei's equipment could allow China to spy on other countries and has effectively blocked American companies from selling US technology to the firm. But the company has repeatedly denied the accusations, saying it is the victim of tech envy. Thailand and the Philippines have shrugged off the cybersecurity warnings in a rush to exploit the ultra-fast 5G network promised by China's biggest smartphone maker, while Vietnam has edged away from Huawei. "China and the US now is in the trade war and also there is some kind of technology war (which) Huawei is very focused on at the moment," said Huawei vice-president Edward Zhou at the Association of Southeast Asian (ASEAN) summit on Sunday. "We are here to support the ASEAN (in) the development for the 5G." Encompassing hundreds of millions of people, the 10-member bloc wants the next-level technology to help businesses, infrastructure and transport compete globally. Host country Thailand has welcomed Huawei with open arms, allowing it to set up a testbed at a major university near the Thai capital. A Huawei spokesperson previously told AFP it had invested $5 billion in the trials and has been invited to conduct similar tests in other Southeast Asian markets. Elsewhere the Philippines' Globe Telecom said this summer it was launching Southeast Asia's first 5G broadband service using Huawei technology. Both Thailand and the Philippines are historic US allies and some see the tangle over 5G as a challenge of influence between the two powers. But not all countries have been eager to sign up. Vietnam has quietly sided with the US on the issue, shunning the Chinese firm in favour of alternative providers for 5G technology, including Ericsson and Nokia. The country's military-owned telecoms giant Viettel hopes to be the first to roll out 5G in Hanoi and Ho Chi Minh City, and has said it plans to do so without Huawei, citing security concerns. Zhou reiterated past statements by the company brushing aside the US claims. "There is not any cybersecurity issues for us. There is no evidence for the US to say that," he said.

Huawei pushes 5G in Southeast Asia, brushing off 'tech war' with US

A World Trade Organisation arbitrator on Friday authorised China to slap tariffs on US imports worth up to $3.58 billion annually in a years-long dispute over US anti-dumping practices, a trade official said.

China had asked the WTO for permission to hit the US with more than $7 billion in tariffs in the case.

But the WTO ruling said it had determined that the illegal US anti-dumping practices had caused "nullification or impairment of benefits accruing to China" to the tune of $3,579.128 million, and that Beijing could impose tariffs on goods not exceeding that amount per year.

The decision marks the first time the WTO has authorised China to impose tariffs in a trade dispute.

Washington voiced disappointment with the decision, with a US trade official stressing the continued commitment "to using antidumping duties to address injurious dumping" and arguing that the ruling "has no foundation in economic analysis".

"Moreover, we do not believe the Arbitrator’s Decision will have any impact on continuing trade discussions between the United States and China," the official said, adding that the US government would discuss with stakeholders "on how to move forward".

Beijing still needs to formally request the right to impose that or a lesser sum in tariffs, but it would take opposition from every WTO member to block such a request.

China initially filed its case against the United States back in December 2013, taking issue with the way Washington assesses whether exports have been "dumped" at unfairly low prices onto the US market.

The use of anti-dumping duties are permitted under international trade rules as long as they adhere to strict conditions, and disputes over their use are often brought before the WTO's Dispute Settlement Body.&nbsp;

In this specific case, China alleged that the United States, in violation of WTO rules, was continuing a practice known as "zeroing", which calculates the price of imports compared to the normal value in the United States to determine predatory pricing.

In October 2016, a panel of WTO experts found largely in China's favour in the case, including on the issue of "zeroing".

The United States, which has repeatedly lost cases before the WTO over its calculation method, said in June 2017 that it would implement the panel's recommendations within a "reasonable" time frame.

But it failed to meet an August 2018 deadline set by the WTO's Dispute Settlement Body to bring its practices in line with the ruling.

China then requested permission to impose sanctions, prompting the WTO to appoint an arbitrator in the case to determine the appropriate amount.

A World Trade Organisation arbitrator on Friday authorised China to slap tariffs on US imports worth up to $3.58 billion annually in a years-long dispute over US anti-dumping practices, a trade official said.

A World Trade Organisation arbitrator on Friday authorised China to slap tariffs on US imports worth up to $3.58 billion annually in a years-long dispute over US anti-dumping practices, a trade official said. China had asked the WTO for permission to hit the US with more than $7 billion in tariffs in the case. But the WTO ruling said it had determined that the illegal US anti-dumping practices had caused "nullification or impairment of benefits accruing to China" to the tune of $3,579.128 million, and that Beijing could impose tariffs on goods not exceeding that amount per year. The decision marks the first time the WTO has authorised China to impose tariffs in a trade dispute. Washington voiced disappointment with the decision, with a US trade official stressing the continued commitment "to using antidumping duties to address injurious dumping" and arguing that the ruling "has no foundation in economic analysis". "Moreover, we do not believe the Arbitrator’s Decision will have any impact on continuing trade discussions between the United States and China," the official said, adding that the US government would discuss with stakeholders "on how to move forward". Beijing still needs to formally request the right to impose that or a lesser sum in tariffs, but it would take opposition from every WTO member to block such a request. China initially filed its case against the United States back in December 2013, taking issue with the way Washington assesses whether exports have been "dumped" at unfairly low prices onto the US market. The use of anti-dumping duties are permitted under international trade rules as long as they adhere to strict conditions, and disputes over their use are often brought before the WTO's Dispute Settlement Body. In this specific case, China alleged that the United States, in violation of WTO rules, was continuing a practice known as "zeroing", which calculates the price of imports compared to the normal value in the United States to determine predatory pricing. In October 2016, a panel of WTO experts found largely in China's favour in the case, including on the issue of "zeroing". The United States, which has repeatedly lost cases before the WTO over its calculation method, said in June 2017 that it would implement the panel's recommendations within a "reasonable" time frame. But it failed to meet an August 2018 deadline set by the WTO's Dispute Settlement Body to bring its practices in line with the ruling. China then requested permission to impose sanctions, prompting the WTO to appoint an arbitrator in the case to determine the appropriate amount.

WTO authorises Chinese tariffs on $3.6 billion in US goods in anti-dumping tiff

Wall Street stocks surged to fresh records Friday following good US jobs data and positive comments from officials about progress on a partial trade deal with China.

The S&amp;P 500 rose 1.0 per cent to end at a new high of 3,066.91, notching its third record this week, while the Nasdaq jumped 1.1 per cent, pushing past the all-time high set in July to close at 8,386.40.

The Dow Jones Industrial Average also gained 1.1 per cent to 27,347.36, only 12 points shy of its own record.

Markets were cheered by the strong labour market after the government reported that US firms added 128,000 net new jobs last month, much better than the 80,000 projected by analysts and in spite of the hit from the lengthy General Motors strike.

Investors also greeted comments from the US and Chinese officials reporting progress in the efforts to finalise the partial trade bargain that President Donald Trump announced three weeks ago.

Adding to the positive sentiment has been a better-than-expected earnings season and the third in a series of Federal Reserve interest rate cuts.

"Interest rates have been moving in the right direction for quite a bit of time," said Tom Cahill of Ventura Wealth Management.&nbsp;

"There is a feeling that late in the year we'll start to see the benefits of interest rates decreasing (with) growth maybe reaccelerating."

Among companies reporting results, Exxon Mobil jumped 3.0 per cent after posting better-than-expected profits, while Chevron was flat on results that lagged expectations.

Fitbit, a wearable technology company, surged 15.2 per cent after it agreed to be acquired by Google for $2.1 billion.

The move advances Google's expansion into hardware while Fitbit has struggled against rivals including Apple. Google's parent Alphabet climbed by 1.1 per cent.

Meanwhile, Colgate-Palmolive shed 2.6 per cent, Pinterest dived 17.1 per cent and American International Group gained 1.5 per cent.

Wall Street stocks surged to fresh records Friday following good US jobs data and positive comments from officials about progress on a partial trade deal with China.

Wall Street stocks surged to fresh records Friday following good US jobs data and positive comments from officials about progress on a partial trade deal with China. The S&P 500 rose 1.0 per cent to end at a new high of 3,066.91, notching its third record this week, while the Nasdaq jumped 1.1 per cent, pushing past the all-time high set in July to close at 8,386.40. The Dow Jones Industrial Average also gained 1.1 per cent to 27,347.36, only 12 points shy of its own record. Markets were cheered by the strong labour market after the government reported that US firms added 128,000 net new jobs last month, much better than the 80,000 projected by analysts and in spite of the hit from the lengthy General Motors strike. Investors also greeted comments from the US and Chinese officials reporting progress in the efforts to finalise the partial trade bargain that President Donald Trump announced three weeks ago. Adding to the positive sentiment has been a better-than-expected earnings season and the third in a series of Federal Reserve interest rate cuts. "Interest rates have been moving in the right direction for quite a bit of time," said Tom Cahill of Ventura Wealth Management. "There is a feeling that late in the year we'll start to see the benefits of interest rates decreasing (with) growth maybe reaccelerating." Among companies reporting results, Exxon Mobil jumped 3.0 per cent after posting better-than-expected profits, while Chevron was flat on results that lagged expectations. Fitbit, a wearable technology company, surged 15.2 per cent after it agreed to be acquired by Google for $2.1 billion. The move advances Google's expansion into hardware while Fitbit has struggled against rivals including Apple. Google's parent Alphabet climbed by 1.1 per cent. Meanwhile, Colgate-Palmolive shed 2.6 per cent, Pinterest dived 17.1 per cent and American International Group gained 1.5 per cent.

S&P 500, Nasdaq end at records after strong US jobs data

Chinese conglomerate Fosun has snapped up the Thomas Cook brand for £11 million ($14.2 million), weeks after the renowned British travel group went bust and left hundreds of thousands of holidaymakers stranded abroad.

Thomas Cook's demise in September sparked 22,000 job losses worldwide and triggered Britain's biggest repatriation since World War II, with the government paying to fly home 140,000 tourists.

The 178-year-old British institution declared bankruptcy in September after an attempt to secure $250 million from private investors fell through.

Hong Kong-listed Fosun, which was already the biggest shareholder in Thomas Cook and also owns France-based resort giant Club Med, had backed out of the eleventh-hour deal to keep the debt-plagued company afloat.

Fosun will now take ownership of the brand rights to Thomas Cook as well as subsidiary hotel chains Casa Cook and Cook's Club under the terms of the purchase agreement, it said in a statement late Friday.&nbsp;

The acquisition would build upon Fosun's existing tourism holdings and "the robust growth momentum of Chinese outbound tourism," said Qian Jiannong, the chairman of Fosun's travel arm.&nbsp;

Thomas Cook had struggled against fierce online competition for some time and blamed Brexit uncertainty for a drop in bookings before its collapse.

Chinese conglomerate Fosun has snapped up the Thomas Cook brand for £11 million ($14.2 million), weeks after the renowned British travel group went bust and left hundreds of thousands of holidaymakers stranded abroad.

Chinese conglomerate Fosun has snapped up the Thomas Cook brand for £11 million ($14.2 million), weeks after the renowned British travel group went bust and left hundreds of thousands of holidaymakers stranded abroad. Thomas Cook's demise in September sparked 22,000 job losses worldwide and triggered Britain's biggest repatriation since World War II, with the government paying to fly home 140,000 tourists. The 178-year-old British institution declared bankruptcy in September after an attempt to secure $250 million from private investors fell through. Hong Kong-listed Fosun, which was already the biggest shareholder in Thomas Cook and also owns France-based resort giant Club Med, had backed out of the eleventh-hour deal to keep the debt-plagued company afloat. Fosun will now take ownership of the brand rights to Thomas Cook as well as subsidiary hotel chains Casa Cook and Cook's Club under the terms of the purchase agreement, it said in a statement late Friday. The acquisition would build upon Fosun's existing tourism holdings and "the robust growth momentum of Chinese outbound tourism," said Qian Jiannong, the chairman of Fosun's travel arm. Thomas Cook had struggled against fierce online competition for some time and blamed Brexit uncertainty for a drop in bookings before its collapse.

Fosun buys Thomas Cook brand for £11 million

Saudi Crown Prince Mohammed bin Salman is expected on Sunday to formally launch a<a href="https://www.wionews.com/world/aramco-ipo-will-be-saudi-crown-princes-decision-minister-258759"> long-anticipated stock offering of Saudi Aramco</a>, a person close to the matter said Friday.

The <a href="https://www.wionews.com/business-economy/saudi-aramco-to-keep-46-million-barrels-of-oil-in-indian-storage-report-258774">Aramco stock listing</a>, a key component of bin Salman's overall policy agenda, will offer a small fraction of the petroleum giant.

Valued at between $1.5 and $1.7 trillion, Aramco is the biggest company ever.

Aramco is expected to sell a total of five per cent on two exchanges, with an initial listing of two per cent on the Tadawul Saudi bourse in December.

That will be followed next year by a three per cent listing in overseas exchange, but that has yet to be picked, the person said.

Prince Mohammed is expected on Sunday to provide specifics on the domestic aspects of the IPO, including a date, the person added.

The kingdom's de facto ruler, Prince Mohammed has viewed the stock offering as a critical component of "Vision 2030," a program to diversify the Saudi economy and shift Aramco from "an oil-producing company into a global industrial conglomerate," according to the Saudi government website.

The plan also envisions building half of Saudi weapons systems within the kingdom itself.

Aramco was expected to launch the first part of the two-stage IPO in October, but the process has been delayed, reportedly due to the prince's dissatisfaction with the valuation of the firm, which fell short of the hoped-for $2 trillion.

Aramco executives have encountered scepticism among investors in London and New York on questions about the firm's transparency, governance practices and targeted valuation, the source told AFP.

Architects of the offering have targeted rich Saudi families and local asset managers as buyers of the stock and prodded Saudi banks to make financing available to retail investors to support the offering, Bloomberg reported.&nbsp;

Andrew Lebow, senior partner at Commodity Research Group and an expert on oil markets, said Aramco has become more transparent, but that there were still questions about how much it will disclose.

"It's hard to say whether we are going to get the full picture," Lebow said. "Certainly Aramco is much more transparent than they have ever been, but whether we are going to see the financials with the full clarity is an open question."

The offering means that "for the first time Aramco is going to have to deal with shareholders," Lebow said. "Those meetings should be pretty interesting."

Saudi Crown Prince Mohammed bin Salman is expected on Sunday to formally launch a long-anticipated stock offering of Saudi Aramco, a person close to the matter said Friday.

Saudi Crown Prince Mohammed bin Salman is expected on Sunday to formally launch a long-anticipated stock offering of Saudi Aramco, a person close to the matter said Friday. The Aramco stock listing, a key component of bin Salman's overall policy agenda, will offer a small fraction of the petroleum giant. Valued at between $1.5 and $1.7 trillion, Aramco is the biggest company ever. Aramco is expected to sell a total of five per cent on two exchanges, with an initial listing of two per cent on the Tadawul Saudi bourse in December. That will be followed next year by a three per cent listing in overseas exchange, but that has yet to be picked, the person said. Prince Mohammed is expected on Sunday to provide specifics on the domestic aspects of the IPO, including a date, the person added. The kingdom's de facto ruler, Prince Mohammed has viewed the stock offering as a critical component of "Vision 2030," a program to diversify the Saudi economy and shift Aramco from "an oil-producing company into a global industrial conglomerate," according to the Saudi government website. The plan also envisions building half of Saudi weapons systems within the kingdom itself. Aramco was expected to launch the first part of the two-stage IPO in October, but the process has been delayed, reportedly due to the prince's dissatisfaction with the valuation of the firm, which fell short of the hoped-for $2 trillion. Aramco executives have encountered scepticism among investors in London and New York on questions about the firm's transparency, governance practices and targeted valuation, the source told AFP. Architects of the offering have targeted rich Saudi families and local asset managers as buyers of the stock and prodded Saudi banks to make financing available to retail investors to support the offering, Bloomberg reported. Andrew Lebow, senior partner at Commodity Research Group and an expert on oil markets, said Aramco has become more transparent, but that there were still questions about how much it will disclose. "It's hard to say whether we are going to get the full picture," Lebow said. "Certainly Aramco is much more transparent than they have ever been, but whether we are going to see the financials with the full clarity is an open question." The offering means that "for the first time Aramco is going to have to deal with shareholders," Lebow said. "Those meetings should be pretty interesting."

Saudi Crown Prince to formally launch Aramco IPO on Sunday: Report

India's 2019-20&nbsp;sugar&nbsp;production should fall to 26.9 million tonnes, 1.3 million tonnes below an August projection, due to unfavourable weather conditions, broker and analyst INTL FCStone said on Thursday.

The production drop in India will lead to a larger global&nbsp;sugar&nbsp;supply deficit in 2019-20 of 7.7 million tonnes, a development seen as crucial in reducing large stocks in some producing countries that have been pressuring international prices, it added.

Previously, the broker had expected a global deficit of 5.9 million tonnes. It has also reduced its production estimate for the European Union by 200,000 tonnes to 16.5 million tonnes.

Estimates for another key producing country, Thailand, were unchanged from August at 13.2 million tonnes, which is a lower production than seen in the previous season (14.9 million tonnes).

"Thailand still has large stocks. We expect their exports to continue strong around 10 million tonnes per year," said Ligia Heise, a&nbsp;sugar&nbsp;analyst at INTL FCStone.

She said strong export activity from Thailand will pressure Brazilian export premiums for a while, preventing any short-term improvement in the&nbsp;sugar&nbsp;business for Brazil mills.

Indian production was impacted by excessive rains, which hurt current production but could be positive for the future crop.

"Reservoirs are full in India and we know that for cane producers their price does not matter much, what matter is climate conditions," said analyst Bruno Lima, during one of several seminars in Sao Paulo in the week when the city hosts the biannual&nbsp;Sugar&nbsp;Dinner.

"When conditions are good for planting, you can count on more&nbsp;sugar&nbsp;coming from India," he said, indicating that even if&nbsp;sugar&nbsp;prices improve with the current deficit, that upward move could be short-lived.

India's 2019-20 sugar production should fall to 26.9 million tonnes, 1.3 million tonnes below an August projection, due to unfavourable weather conditions, broker and analyst INTL FCStone said on Thursday.

India's 2019-20 sugar production should fall to 26.9 million tonnes, 1.3 million tonnes below an August projection, due to unfavourable weather conditions, broker and analyst INTL FCStone said on Thursday. The production drop in India will lead to a larger global sugar supply deficit in 2019-20 of 7.7 million tonnes, a development seen as crucial in reducing large stocks in some producing countries that have been pressuring international prices, it added. Previously, the broker had expected a global deficit of 5.9 million tonnes. It has also reduced its production estimate for the European Union by 200,000 tonnes to 16.5 million tonnes. Estimates for another key producing country, Thailand, were unchanged from August at 13.2 million tonnes, which is a lower production than seen in the previous season (14.9 million tonnes). "Thailand still has large stocks. We expect their exports to continue strong around 10 million tonnes per year," said Ligia Heise, a sugar analyst at INTL FCStone. She said strong export activity from Thailand will pressure Brazilian export premiums for a while, preventing any short-term improvement in the sugar business for Brazil mills. Indian production was impacted by excessive rains, which hurt current production but could be positive for the future crop. "Reservoirs are full in India and we know that for cane producers their price does not matter much, what matter is climate conditions," said analyst Bruno Lima, during one of several seminars in Sao Paulo in the week when the city hosts the biannual Sugar Dinner. "When conditions are good for planting, you can count on more sugar coming from India," he said, indicating that even if sugar prices improve with the current deficit, that upward move could be short-lived.

India's sugar output seen falling, global deficit rises: FCStone

Oil&nbsp;prices&nbsp;edged&nbsp;up&nbsp;on Friday after a difficult week but were still headed for&nbsp;losses of about 4 per cent, hit by a combination of&nbsp;rising&nbsp;global supply and uncertain future demand.

US&nbsp;crude&nbsp;rose for the first time in four days, gaining 18 cents, or 0.3 per cent, to $54.36 a barrel by 0339 GMT. The contract was&nbsp;set&nbsp;for a&nbsp;weekly&nbsp;loss&nbsp;of more than 4 per cent.

Brent crude&nbsp;was&nbsp;up&nbsp;5 cents, or 0.1 per cent, at $59.67 a barrel, leaving it on track for a drop of nearly 4 per cent.

Worries over global economic growth, along with&nbsp;oil&nbsp;demand, continue to haunt the market as leaders from the United States and China struggle to end a 16-month dispute that has roiled&nbsp;trade&nbsp;between the world's top two economies.

"Concerns about the <a href="https://www.wionews.com/world/trump-new-location-for-united-states-china-trade-deal-signing-to-be-announced-soon-259106">US-China&nbsp;trade&nbsp;dispute </a>have come home to roost," said Stephen Innes, Asia Pacific market strategist at AxiTrader.

The market received some respite from a run of poor economic data after an unexpected bounce in a private sector survey of Chinese manufacturing activity on Friday, which contrasted with the dour results of an official survey Thursday.

Japanese factory activity, however, sank to more than a three-year low in October, data showed on Friday, in a fresh warning sign for the world's third-largest economy.

US&nbsp;crude inventories&nbsp;rose by 5.7 million barrels in the week to October&nbsp;25, dwarfing analyst expectations for an increase of just 494,000 barrels.

A Reuters survey showed that&nbsp;oil&nbsp;prices&nbsp;are likely to remain under pressure this year and next. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year.

Meanwhile, US&nbsp;crude production soared nearly 600,000 barrels per day in August to a record of 12.4 million, buoyed by a 30 per cent&nbsp;increase in Gulf of Mexico&nbsp;output, according to government data released on Thursday.

Those numbers came as a Reuters survey found&nbsp;output&nbsp;from Organization of the Petroleum Exporting Countries (OPEC) recovered in October from an eight-year low, with rapid recovery in Saudi Arabian production from attacks on&nbsp;oil&nbsp;plants more than offsetting&nbsp;losses in Ecuador and voluntary curbs under a supply pact.

Oil prices edged up on Friday after a difficult week but were still headed for losses of about 4 per cent, hit by a combination of rising global supply and uncertain future demand.

Oil prices edged up on Friday after a difficult week but were still headed for losses of about 4 per cent, hit by a combination of rising global supply and uncertain future demand. US crude rose for the first time in four days, gaining 18 cents, or 0.3 per cent, to $54.36 a barrel by 0339 GMT. The contract was set for a weekly loss of more than 4 per cent. Brent crude was up 5 cents, or 0.1 per cent, at $59.67 a barrel, leaving it on track for a drop of nearly 4 per cent. Worries over global economic growth, along with oil demand, continue to haunt the market as leaders from the United States and China struggle to end a 16-month dispute that has roiled trade between the world's top two economies. "Concerns about the US-China trade dispute have come home to roost," said Stephen Innes, Asia Pacific market strategist at AxiTrader. The market received some respite from a run of poor economic data after an unexpected bounce in a private sector survey of Chinese manufacturing activity on Friday, which contrasted with the dour results of an official survey Thursday. Japanese factory activity, however, sank to more than a three-year low in October, data showed on Friday, in a fresh warning sign for the world's third-largest economy. US crude inventories rose by 5.7 million barrels in the week to October 25, dwarfing analyst expectations for an increase of just 494,000 barrels. A Reuters survey showed that oil prices are likely to remain under pressure this year and next. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year. Meanwhile, US crude production soared nearly 600,000 barrels per day in August to a record of 12.4 million, buoyed by a 30 per cent increase in Gulf of Mexico output, according to government data released on Thursday. Those numbers came as a Reuters survey found output from Organization of the Petroleum Exporting Countries (OPEC) recovered in October from an eight-year low, with rapid recovery in Saudi Arabian production from attacks on oil plants more than offsetting losses in Ecuador and voluntary curbs under a supply pact.

Oil prices edge up, but set for big weekly loss on rising output, trade woes

Two- and three-wheeler manufacturer Bajaj Auto on Friday said that it sold 4.63 lakh vehicles in October, down 9 per cent in the year-ago period.

In October 2018, it had sold 5.06 lakh units, it said in a statement.

Domestic sales of motorcycles fell by 14 per cent to 2.42 lakh units from 2.81 lakh in October last year. But exports rose by 3 per cent to 1.56 lakh units from 1.51 lakh.

For the April to October period, motorcycle sales work out to 13.74 lakh units in the domestic market, down 12 per cent from 15.68 lakh units, and 10.9 lakh units in export markets, up 7 per cent from 10.2 lakh units year-on-year.

In commercial vehicles, domestic sales slipped by 5 per cent to 36,260 units last month from 38,360 in October last year.

Exports too fell by 21 per cent to 28,035 units from 35,354 units.

For the April to October period, domestic sales totalled 2.3 lakh units, down 6 per cent from 2.4 lakh units, while exports dropped by 21 per cent to 1.87 lakh units from 2.38 lakh units year-on-year.

Two- and three-wheeler manufacturer Bajaj Auto on Friday said that it sold 4.63 lakh vehicles in October, down 9 per cent in the year-ago period. In October 2018, it had sold 5.

Two- and three-wheeler manufacturer Bajaj Auto on Friday said that it sold 4.63 lakh vehicles in October, down 9 per cent in the year-ago period. In October 2018, it had sold 5.06 lakh units, it said in a statement. Domestic sales of motorcycles fell by 14 per cent to 2.42 lakh units from 2.81 lakh in October last year. But exports rose by 3 per cent to 1.56 lakh units from 1.51 lakh. For the April to October period, motorcycle sales work out to 13.74 lakh units in the domestic market, down 12 per cent from 15.68 lakh units, and 10.9 lakh units in export markets, up 7 per cent from 10.2 lakh units year-on-year. In commercial vehicles, domestic sales slipped by 5 per cent to 36,260 units last month from 38,360 in October last year. Exports too fell by 21 per cent to 28,035 units from 35,354 units. For the April to October period, domestic sales totalled 2.3 lakh units, down 6 per cent from 2.4 lakh units, while exports dropped by 21 per cent to 1.87 lakh units from 2.38 lakh units year-on-year.

Bajaj Auto reports 9% fall in vehicle sales during October

Indian shares extended gains seen through the week on Friday, as a raft of strong earnings raised expectations of a better December quarter.

Broader Asian shares reversed early losses with MSCI`s broadest index of Asia-Pacific shares outside Japan inching up 0.16 per cent&nbsp;after a surprise bounce in Chinese manufacturing activity boosted investor sentiment.

In domestic markets, the broader NSE index&nbsp;was up 0.23 per cent&nbsp;at 11,904.05 as of 0405 GMT, while the benchmark BSE index&nbsp;was 0.25 per cent&nbsp;higher at 40,219.86.

Indian shares have seen steady gains in the last few sessions buoyed by positive global cues, a strong set of corporate results and expectations of a better third quarter.

The Nifty Media index&nbsp;rose as much as 3.49 per cent, gaining the most among the 14 sectoral NSE indexes.

The Nifty PSU Bank index, which tracks the country`s state-run lenders, rose as much as 0.83 per cent, with shares of Central Bank of India rising nearly 6 per cent.

"Today is the first day of the new derivative segment and we have had one of the best months in the last four months, so that positivity has continued," said A.K. Prabhakar, head of research at IDBI Capital in Mumbai.

Auto stocks will be in focus on Friday as automakers are set to report their monthly sales data. The Nifty Auto index&nbsp;inched up 0.24 per cent&nbsp;in early trade.

Shares of lender Yes Bank Ltd were flat ahead of quarterly results announcement.

State-owned oil retailer<a href="https://www.wionews.com/business-economy/indian-oil-profit-tanks-83-as-refining-margins-shrink-259071"> Indian Oil Corporation</a> Ltd slipped as much as 4.22 per cent&nbsp;and was the biggest loser on the NSE index after the refiner recorded an 83 per cent&nbsp;slide in quarterly profit.

Meanwhile, India`s fiscal deficit in the six months through September approached 93 per cent&nbsp;of the target for the full year, limiting the scope for Prime Minister Narendra Modi to consider more tax cuts to boost economic growth.

Indian shares extended gains seen through the week on Friday, as a raft of strong earnings raised expectations of a better December quarter. Broader Asian shares reversed early losses with MSCI`s broadest index of Asia-Pacific shares outside Japan inching up 0.

Indian shares extended gains seen through the week on Friday, as a raft of strong earnings raised expectations of a better December quarter. Broader Asian shares reversed early losses with MSCI`s broadest index of Asia-Pacific shares outside Japan inching up 0.16 per cent after a surprise bounce in Chinese manufacturing activity boosted investor sentiment. In domestic markets, the broader NSE index was up 0.23 per cent at 11,904.05 as of 0405 GMT, while the benchmark BSE index was 0.25 per cent higher at 40,219.86. Indian shares have seen steady gains in the last few sessions buoyed by positive global cues, a strong set of corporate results and expectations of a better third quarter. The Nifty Media index rose as much as 3.49 per cent, gaining the most among the 14 sectoral NSE indexes. The Nifty PSU Bank index, which tracks the country`s state-run lenders, rose as much as 0.83 per cent, with shares of Central Bank of India rising nearly 6 per cent. "Today is the first day of the new derivative segment and we have had one of the best months in the last four months, so that positivity has continued," said A.K. Prabhakar, head of research at IDBI Capital in Mumbai. Auto stocks will be in focus on Friday as automakers are set to report their monthly sales data. The Nifty Auto index inched up 0.24 per cent in early trade. Shares of lender Yes Bank Ltd were flat ahead of quarterly results announcement. State-owned oil retailer Indian Oil Corporation Ltd slipped as much as 4.22 per cent and was the biggest loser on the NSE index after the refiner recorded an 83 per cent slide in quarterly profit. Meanwhile, India`s fiscal deficit in the six months through September approached 93 per cent of the target for the full year, limiting the scope for Prime Minister Narendra Modi to consider more tax cuts to boost economic growth.

Nifty, Sensex extend gains, Indian Oil Corporation drops after weak results