Donald Trump targets Bill Maher in lengthy post after White House dinner, says ‘Don’t call anymore’

New OTT releases this week (October 26-November 1, 2026): Baththa, Akka, The One About Matthew Perry- 7 titles coming on Netflix, Prime Video and more

Nagpur man fails to pay rent, allegedly prints fake Rs 500 notes worth Rs 37 lakh

Daler Mehndi controversy: Mika Singh’s team confirms Subodh Uniyal’s apology

Brazil re-elects factory worker Lula for fourth term; Indian PM Modi congratulates 'dear friend'

Delhi's new entry rules for vehicles begin November 1. Here's all you need to know about the ban

Fire breaks out at Delhi’s North Block, thick black smoke seen | VIDEO

Pakistan airline PIA unveils new crew uniforms, faces online criticism

'Clear overkill': Putin rejects claims Russia is behind mass protests in Europe

Armoured vehicles vs main battle tanks: What is the real difference?

Pahalgam, Gulmarg record season’s first sub-zero temperatures as winter chill intensifies in Kashmir

Serbia’s student-led movement defeats Vucic’s party after 14 years in power: Why it matters

IND vs NZ: Tilak Varma sets world record with most T20I catches in a year

How do army night-vision systems see in almost complete darkness?

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

‘Saddam Hussein opened a cheesecake factory’: Obama mocks Trump’s White House renovations; defends Abdul El-Sayed

Netanyahu warns Israelis of ‘existential threat’ from Iran, posts AI image of nuclear strike

WATCH | Virat Kohli returns to training ahead of New Zealand ODI series

Clayface tops North American box office, Elizabeth Holmes documentary follows close behind

‘That is a miss’: Ravi Ashwin questions Sooryavanshi’s demotion to No. 3 in 2nd T20I vs NZ

Who is Eyal Zamir, Israeli army chief, who reportedly clashed with Netanyahu over Iran?

Elon Musk’s Grok releases first AI-generated  Odyssey episode, months after promising ‘historically accurate’ full-length film

Why do some fighter jets have two engines while others use one?

Telangana unveils AI avatar of IT minister D Sridhar Babu at Hyderabad DevFest 2026

'I promised Gautam & Kotak Sir that...': Tilak Varma opens up on match-winning mindset against NZ

'Hell of a beautiful a**': Trump compliments Nicki Minaj as rapper joins him in Michigan rally

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

'Hire the robot, fire the human': Bill Gates's words hint at a bleak future

Rahul Gandhi’s convoy collides with ambulance on UP expressway | VIDEO

FIR filed against opposition MPs for ‘trespassing’ amid Jamia Millia students’ protest

Why does this fighter jet have a golden window that looks like alien technology?

Maldives opposition leader demands transparency on Muizzu Govt's Pakistan defence, security deals

Formula 1: Mercedes' Kimi Antonelli one race and ninth spot finish away from title after US Grand Prix win

India's industrial output shrank at its fastest rate in more than six years in August, reflecting the impact of an economic slowdown that could prompt the central bank to cut its key policy rate for the sixth time in December.

Annual industrial output contracted 1.1% in August compared with 4.6% growth in the previous month, government data showed on Friday. It was the worst performance since a 1.7% contraction in November 2012, data compiled by the Statistics ministry showed.

Analysts polled by Reuters had forecast industrial output for the month to have grown at 1.8%.

Subdued inflation and an economic slowdown have prompted the Reserve Bank of India (RBI) to cut interest rates by a total of 135 basis points this year, including a 25-basis-point cut last week, making it the most aggressive central bank in Asia.

"Another rate cut in December seems likely," Shilan Shah, of Capital Economics, said before the release of the data.

The country's infrastructure output fell in August from a year earlier, the first contraction since April 2015, signalling the recovery in Asia's third-largest economy may be slow despite a cut in the corporate tax rate and other policy measures designed to spur investment.

Passenger vehicle sales slumped 23.7% in September, the 11th straight month of declines, prompting an industry body to flag more job cuts if sales failed to pick up soon.

Car and auto component makers have cut thousands of jobs and halted some production as the industry grapples with various challenges amid a broader economic slowdown. The government stepped in last month, announcing a corporate tax rate cut to boost manufacturing and lift growth.

The government has also seen tax collections falling due to weakness in the economy. Collections from India's nationwide goods and services tax (GST) fell to a 19-month low in September, while direct tax collection growth since the beginning of the current fiscal stands at 6% so far, below the required growth rate of 17%.

India's industrial output shrank at its fastest rate in more than six years in August, reflecting the impact of an economic slowdown that could prompt the central bank to cut its key policy rate for the sixth time in December.

India's industrial output shrank at its fastest rate in more than six years in August, reflecting the impact of an economic slowdown that could prompt the central bank to cut its key policy rate for the sixth time in December. Annual industrial output contracted 1.1% in August compared with 4.6% growth in the previous month, government data showed on Friday. It was the worst performance since a 1.7% contraction in November 2012, data compiled by the Statistics ministry showed. Analysts polled by Reuters had forecast industrial output for the month to have grown at 1.8%. Subdued inflation and an economic slowdown have prompted the Reserve Bank of India (RBI) to cut interest rates by a total of 135 basis points this year, including a 25-basis-point cut last week, making it the most aggressive central bank in Asia. "Another rate cut in December seems likely," Shilan Shah, of Capital Economics, said before the release of the data. The country's infrastructure output fell in August from a year earlier, the first contraction since April 2015, signalling the recovery in Asia's third-largest economy may be slow despite a cut in the corporate tax rate and other policy measures designed to spur investment. Passenger vehicle sales slumped 23.7% in September, the 11th straight month of declines, prompting an industry body to flag more job cuts if sales failed to pick up soon. Car and auto component makers have cut thousands of jobs and halted some production as the industry grapples with various challenges amid a broader economic slowdown. The government stepped in last month, announcing a corporate tax rate cut to boost manufacturing and lift growth. The government has also seen tax collections falling due to weakness in the economy. Collections from India's nationwide goods and services tax (GST) fell to a 19-month low in September, while direct tax collection growth since the beginning of the current fiscal stands at 6% so far, below the required growth rate of 17%.

Industrial output shrinks at fastest rate in more than six years

Betty Johnson, who has worked on General Motors assembly lines in Michigan and Tennessee for more than 34 years, said she knew a strike by the United Auto Workers would mean personal sacrifice.

Nearly 50,000 GM hourly employees have been striking since September 16 in a walkout that has halted production at 31 factories and<a href="https://www.wionews.com/world/gm-temporarily-lays-off-6000-workers-in-mexico-due-to-strike-253197"> led to thousands of layoffs</a> at auto supply companies.

"It's not easy," Johnson said. "I've got $45 left from my $250 in strike pay. I'm getting ready to hit up my 401K (retirement account) and borrow from myself," she said as she picketed outside GM's Detroit-Hamtramck assembly plant.

GM employees who are boycotting receive only $250 a week, a minuscule fraction of their normal salaries.

Johnson has already contacted the United Way, the local community organization that helps families in distress, for assistance in stretching out her utility bills and mortgage payments. &nbsp;

The union has urged members to contact a community information and referral services hotline and passed out cards with the corresponding phone number, Johnson said.

Credit unions supported by organized labour have also stepped forward to help some of the strikers.

"I don't see how you can feed five children on $250 a week," said Johnson, noting that many of her coworkers face even greater hardships, especially temporary employees.

The UAW says the typical GM worker at the top of the pay scale makes an average of $65,000 per year and employees with less than eight years seniority make even less.

Meanwhile, the seven per cent of GM workers classified as temporary employees make&nbsp;$16.50 per hour or about $33,000 per year.

Community support&nbsp;

Louis Rocha, president of UAW Local 5960 in a suburb of Detroit, Michigan, who works at an assembly plant where GM builds electric vehicles, said community support has been helpful.

Local 5960 runs a striking kitchen that prepares food around the clock and gives away free meals thanks to donations from local businesses, churches, community groups and ordinary people.

Pizza has been delivered free of charge to the hall every day since the strike began on September 16, he added.

Rocha even recounted the story of a local veterinarian who offered to do surgery on a family's cat for free so that they didn't have to euthanize it.

Gerald Lang, Local 5960 vice president, said he doesn't believe GM ever anticipated the broad community support the UAW has gotten during the walkout.

"There are a lot of workers pinched by corporations. Everyone who packs a lunch box sees it and knows it. They're expected to do more with less," said Lang.

Workers have been learning to economize on food, transportation and entertainment.

David Michael, a member of Local 5960, said he dropped cable television and switched to processed food.

"I buy gas by the gallon rather than filling it up," said Michael, who has dipped into savings to cover his bills.

Diana Reed, who has worked for GM for 20 years and is also a member of Local 5960, said she's begun combing her house for belongings to sell on an online marketplace.

A single mother with five sons, Reed said her three oldest have jobs and are helping with household bills while her youngest two, both at university, took the semester off to save money since she pays their tuition.

"Do I feel bad? Yes. But it's a concession we had to make," Reed said.

"It's hard for people to save for something like this," said Reed, who notes that most workers with children live paycheck to paycheck.

Reed, who has previously made donations to food pantries, now finds the tables turned, accepting donated food.

"I had to put down my pride and that was hard. The big thing that made me put that down was thinking about my boys," she said.

Betty Johnson, who has worked on General Motors assembly lines in Michigan and Tennessee for more than 34 years, said she knew a strike by the United Auto Workers would mean personal sacrifice.

Betty Johnson, who has worked on General Motors assembly lines in Michigan and Tennessee for more than 34 years, said she knew a strike by the United Auto Workers would mean personal sacrifice. Nearly 50,000 GM hourly employees have been striking since September 16 in a walkout that has halted production at 31 factories and led to thousands of layoffs at auto supply companies. "It's not easy," Johnson said. "I've got $45 left from my $250 in strike pay. I'm getting ready to hit up my 401K (retirement account) and borrow from myself," she said as she picketed outside GM's Detroit-Hamtramck assembly plant. GM employees who are boycotting receive only $250 a week, a minuscule fraction of their normal salaries. Johnson has already contacted the United Way, the local community organization that helps families in distress, for assistance in stretching out her utility bills and mortgage payments. The union has urged members to contact a community information and referral services hotline and passed out cards with the corresponding phone number, Johnson said. Credit unions supported by organized labour have also stepped forward to help some of the strikers. "I don't see how you can feed five children on $250 a week," said Johnson, noting that many of her coworkers face even greater hardships, especially temporary employees. The UAW says the typical GM worker at the top of the pay scale makes an average of $65,000 per year and employees with less than eight years seniority make even less. Meanwhile, the seven per cent of GM workers classified as temporary employees make $16.50 per hour or about $33,000 per year. Community support Louis Rocha, president of UAW Local 5960 in a suburb of Detroit, Michigan, who works at an assembly plant where GM builds electric vehicles, said community support has been helpful. Local 5960 runs a striking kitchen that prepares food around the clock and gives away free meals thanks to donations from local businesses, churches, community groups and ordinary people. Pizza has been delivered free of charge to the hall every day since the strike began on September 16, he added. Rocha even recounted the story of a local veterinarian who offered to do surgery on a family's cat for free so that they didn't have to euthanize it. Gerald Lang, Local 5960 vice president, said he doesn't believe GM ever anticipated the broad community support the UAW has gotten during the walkout. "There are a lot of workers pinched by corporations. Everyone who packs a lunch box sees it and knows it. They're expected to do more with less," said Lang. Workers have been learning to economize on food, transportation and entertainment. David Michael, a member of Local 5960, said he dropped cable television and switched to processed food. "I buy gas by the gallon rather than filling it up," said Michael, who has dipped into savings to cover his bills. Diana Reed, who has worked for GM for 20 years and is also a member of Local 5960, said she's begun combing her house for belongings to sell on an online marketplace. A single mother with five sons, Reed said her three oldest have jobs and are helping with household bills while her youngest two, both at university, took the semester off to save money since she pays their tuition. "Do I feel bad? Yes. But it's a concession we had to make," Reed said. "It's hard for people to save for something like this," said Reed, who notes that most workers with children live paycheck to paycheck. Reed, who has previously made donations to food pantries, now finds the tables turned, accepting donated food. "I had to put down my pride and that was hard. The big thing that made me put that down was thinking about my boys," she said.

General Motors workers struggle with daily expenses as long strike continues

Bill McDermott, the American chief executive of massive German business software maker SAP, will quit after a decade in charge, the company said Friday.

McDermott "has decided not to renew his contract and is stepping down from his position," SAP said in a statement, adding that he will be replaced by board members Jennifer Morgan and Christian Klein as co-chief executives.

The company did not give a reason for the longtime chief's sudden departure.

He joined the software maker in 2002, climbing to the executive board in 2008 and serving as CEO since 2010.

"Every CEO dreams of handing an exceptionally strong company to its next-generation... now we start the next chapter," McDermott tweeted.

SAP said the veteran executive "will remain in an advisory capacity until the end of the year to ensure a smooth transition".

His contract had originally been slated to run until 2021.

"SAP would not be what it is today without Bill McDermott," supervisory board chairman Hasso Plattner said.

He singled out for praise SAP's transition from selling traditional software licenses to subscriptions to cloud computing services, "which will fuel our growth for many years to come".

A member of the DAX blue-chip index on the Frankfurt stock market, SAP boasts a market capitalisation of almost $143 billion.

In third-quarter results released ahead of schedule Friday, the group reported 13 per cent year-on-year growth in revenue, to 6.8 billion euros.

Net profit grew 30 percent compared with July-September 2018, to 1.3 billion euros.

Bill McDermott, the American chief executive of massive German business software maker SAP, will quit after a decade in charge, the company said Friday. McDermott "has decided not to renew his contract and is stepping down from his position," SAP said in a statement, adding that he will be replaced by board members Jennifer Morgan and Christian Klein as co-chief executives.

Bill McDermott, the American chief executive of massive German business software maker SAP, will quit after a decade in charge, the company said Friday. McDermott "has decided not to renew his contract and is stepping down from his position," SAP said in a statement, adding that he will be replaced by board members Jennifer Morgan and Christian Klein as co-chief executives. The company did not give a reason for the longtime chief's sudden departure. He joined the software maker in 2002, climbing to the executive board in 2008 and serving as CEO since 2010. "Every CEO dreams of handing an exceptionally strong company to its next-generation... now we start the next chapter," McDermott tweeted. SAP said the veteran executive "will remain in an advisory capacity until the end of the year to ensure a smooth transition". His contract had originally been slated to run until 2021. "SAP would not be what it is today without Bill McDermott," supervisory board chairman Hasso Plattner said. He singled out for praise SAP's transition from selling traditional software licenses to subscriptions to cloud computing services, "which will fuel our growth for many years to come". A member of the DAX blue-chip index on the Frankfurt stock market, SAP boasts a market capitalisation of almost $143 billion. In third-quarter results released ahead of schedule Friday, the group reported 13 per cent year-on-year growth in revenue, to 6.8 billion euros. Net profit grew 30 percent compared with July-September 2018, to 1.3 billion euros.

Chief executive of German business software group SAP steps down

Oil&nbsp;prices climbed early on Friday, building on gains in the previous session after producer club&nbsp;OPEC&nbsp;hinted at making&nbsp;deeper&nbsp;cuts&nbsp;in supply while optimism was revived over&nbsp;talks&nbsp;between the United States and&nbsp;China&nbsp;to end their&nbsp;trade&nbsp;war.

International benchmark Brent crude futures were at $59.26 a barrel by 0251 GMT, up 16 cents, or 0.3 per cent, from their previous settlement. Brent settled up 1.3 per cent&nbsp;at $59.10 a barrel on Thursday.

US West Texas Intermediate (WTI) crude&nbsp;futures rose 16 cents, also up 0.3 per cent, from their last close to $53.71 per barrel. In the previous session, WTI settled 1.8 per cent&nbsp;higher at $53.55 a barrel.

On Thursday Mohammad Barkindo, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said all options were on the table, including a&nbsp;deeper&nbsp;supply cut to balance&nbsp;oil&nbsp;markets. A decision would be taken at a December meeting between the&nbsp;OPEC&nbsp;and its partners, he said.

OPEC&nbsp;lowered its 2019 global&nbsp;oil&nbsp;demand growth forecast to 0.98 million barrels per day (bpd), while leaving its 2020 demand growth estimate unchanged at 1.08 million bpd, according to&nbsp;OPEC's monthly report.

Beyond&nbsp;OPEC,&nbsp;trade&nbsp;talks&nbsp;between the United States and&nbsp;China&nbsp;also remained on the market's radar as the world's top two economies seek to resolve a more-than-a-year-long&nbsp;trade&nbsp;row that has slowed global economic growth and curbed fuel consumption.

"Oil&nbsp;bought into the upbeat tone from the bilateral&nbsp;talks&nbsp;as well, for better or for worse, and was also boosted by fighting talk on prices by the&nbsp;OPEC&nbsp;secretary-general," said Jeffrey Halley, a senior market analyst at OANDA in Singapore.

Top&nbsp;US&nbsp;and Chinese negotiators wrapped up the first of two days of <a href="https://www.wionews.com/world/us-china-trade-talks-to-resume-thursday-white-house-254346">scheduled&nbsp;trade&nbsp;talks&nbsp;on Thursday,</a> with business groups&nbsp;expressing optimism that the two sides might be able to ease tensions and delay a&nbsp;US&nbsp;tariff hike set for next week.

"The United States is the largest global consumer of&nbsp;oil&nbsp;while&nbsp;China, the biggest driver of year-on-year&nbsp;oil&nbsp;demand growth," said Stephen Innes, Asia Pacific market strategist at AxiTrader.

"The most significant sentiment driver hinges on the outcome of the&nbsp;trade&nbsp;talks&nbsp;which, if (they) end on a positive note, could go along way to begin to repair the economic damage done ... these economic powerhouses would need more&nbsp;oil," said Innes.

US&nbsp;President Donald Trump is set to meet Chinese Vice Premier Liu He at 1845 GMT on Friday, the White House said.

Oil prices climbed early on Friday, building on gains in the previous session after producer club OPEC hinted at making deeper cuts in supply while optimism was revived over talks between the United States and China to end their trade war.

Oil prices climbed early on Friday, building on gains in the previous session after producer club OPEC hinted at making deeper cuts in supply while optimism was revived over talks between the United States and China to end their trade war. International benchmark Brent crude futures were at $59.26 a barrel by 0251 GMT, up 16 cents, or 0.3 per cent, from their previous settlement. Brent settled up 1.3 per cent at $59.10 a barrel on Thursday. US West Texas Intermediate (WTI) crude futures rose 16 cents, also up 0.3 per cent, from their last close to $53.71 per barrel. In the previous session, WTI settled 1.8 per cent higher at $53.55 a barrel. On Thursday Mohammad Barkindo, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said all options were on the table, including a deeper supply cut to balance oil markets. A decision would be taken at a December meeting between the OPEC and its partners, he said. OPEC lowered its 2019 global oil demand growth forecast to 0.98 million barrels per day (bpd), while leaving its 2020 demand growth estimate unchanged at 1.08 million bpd, according to OPEC's monthly report. Beyond OPEC, trade talks between the United States and China also remained on the market's radar as the world's top two economies seek to resolve a more-than-a-year-long trade row that has slowed global economic growth and curbed fuel consumption. "Oil bought into the upbeat tone from the bilateral talks as well, for better or for worse, and was also boosted by fighting talk on prices by the OPEC secretary-general," said Jeffrey Halley, a senior market analyst at OANDA in Singapore. Top US and Chinese negotiators wrapped up the first of two days of scheduled trade talks on Thursday, with business groups expressing optimism that the two sides might be able to ease tensions and delay a US tariff hike set for next week. "The United States is the largest global consumer of oil while China, the biggest driver of year-on-year oil demand growth," said Stephen Innes, Asia Pacific market strategist at AxiTrader. "The most significant sentiment driver hinges on the outcome of the trade talks which, if (they) end on a positive note, could go along way to begin to repair the economic damage done ... these economic powerhouses would need more oil," said Innes. US President Donald Trump is set to meet Chinese Vice Premier Liu He at 1845 GMT on Friday, the White House said.

Oil rises on hopes for deeper OPEC output cuts, US-China trade talks

Asian markets rallied Friday on signs of progress in the <a href="https://www.wionews.com/world/us-china-trade-talks-to-resume-thursday-white-house-254346">China-US trade talks</a>, with Donald Trump saying they were "going very well", while the pound held gains after the leaders of <a href="https://www.wionews.com/world/irish-pm-says-very-difficult-to-secure-brexit-deal-by-next-week-254692">Britain and Ireland</a> indicated a potential breakthrough in Brexit talks.

After a nervous week on trading floors, negotiators from the world's top two economies kicked off long-awaited negotiations on resolving their long-running tariffs row on a positive footing, easing worries that they might be cut short.

Without elaborating, Trump told reporters: "I will say I think it's going really well. We had a very, very good negotiation with China."

Adding to the positive vibes was news that Trump would meet China's top trade envoy Liu He at the White House.

The developments allowed dealers to breathe a sigh of relief as tensions between the two sides appeared to be growing after the <a href="https://www.wionews.com/world/us-expands-blacklist-to-include-chinas-top-ai-startups-ahead-of-trade-talks-254672">US put new restrictions on Chinese firms </a>over human rights abuses and reports Beijing had narrowed the issues it was willing to discuss.

"The fog of trade war is beginning to lift, giving way to an air of trade optimism sweeping through global capital markets," said Stephen Innes, Asia-Pacific market strategist at AxiTrader.

"Investors are starting to believe there is light at the end of the... tunnel as hope springs eternal."

Hong Kong led gains across Asia, jumping more than one per cent, Tokyo heading into the break one per cent higher and Shanghai adding 0.1 per cent.

Talks are expected to resume on Friday, with hopes they can at least lead to a delay in tariffs due next week being imposed on China.

"The prospect of US-China trade truce that results in the suspension of further planned tariffs increases is rightly welcome news," Rodrigo Catril at National Australia Bank said.

"But as it is often the case, the devil will be in the detail," he warned, adding that if the optimism is to last "a meaningful de-escalation in tensions is required".

And Thanos Vamvakidis, at Bank of America Merrill Lynch, told Bloomberg TV "we are not out of the woods yet".

Markets are also getting some support from rare signs of progress in the Brexit saga after British Prime Minister Boris Johnson and his Irish counterpart Leo Varadkar said they could see a route towards striking a possible divorce deal.

After hours of talks regarding the vexed question of Northern Ireland, the two issued a joint statement that said: "Both continue to believe a deal is in everybody's interest. They agreed that they could see a pathway to a possible deal."

While Varadkar said there were still hurdles to overcome, the news did provide some much-needed hope in the crisis after German Chancellor Angela Merkel was reported to have said Brexit talks were "close to breaking down".

The pound surged two per cent against the dollar on Thursday and also rallied on the euro, and in early Asian trade managed to hold its ground.

"The positive vibe has raised some hope for a chance of a Brexit deal ahead of the EU summit at the end of next week," NAB's Catril added.

Hopes for the <a href="https://www.wionews.com/business-economy/oil-prices-fall-as-hopes-for-us-china-trade-progress-wilt-254886">China-US talks helped oil prices higher,</a> with traders also cheered by OPEC Secretary-General Mohammad Barkindo saying the grouping of the world's giant producers would do what it could to avert another slump.

Both main contracts rose Friday, having put on more than one per cent the day before.

Asian markets rallied Friday on signs of progress in the China-US trade talks, with Donald Trump saying they were "going very well", while the pound held gains after the leaders of Britain and Ireland indicated a potential breakthrough in Brexit talks.

Asian markets rallied Friday on signs of progress in the China-US trade talks, with Donald Trump saying they were "going very well", while the pound held gains after the leaders of Britain and Ireland indicated a potential breakthrough in Brexit talks. After a nervous week on trading floors, negotiators from the world's top two economies kicked off long-awaited negotiations on resolving their long-running tariffs row on a positive footing, easing worries that they might be cut short. Without elaborating, Trump told reporters: "I will say I think it's going really well. We had a very, very good negotiation with China." Adding to the positive vibes was news that Trump would meet China's top trade envoy Liu He at the White House. The developments allowed dealers to breathe a sigh of relief as tensions between the two sides appeared to be growing after the US put new restrictions on Chinese firms over human rights abuses and reports Beijing had narrowed the issues it was willing to discuss. "The fog of trade war is beginning to lift, giving way to an air of trade optimism sweeping through global capital markets," said Stephen Innes, Asia-Pacific market strategist at AxiTrader. "Investors are starting to believe there is light at the end of the... tunnel as hope springs eternal." Hong Kong led gains across Asia, jumping more than one per cent, Tokyo heading into the break one per cent higher and Shanghai adding 0.1 per cent. Talks are expected to resume on Friday, with hopes they can at least lead to a delay in tariffs due next week being imposed on China. "The prospect of US-China trade truce that results in the suspension of further planned tariffs increases is rightly welcome news," Rodrigo Catril at National Australia Bank said. "But as it is often the case, the devil will be in the detail," he warned, adding that if the optimism is to last "a meaningful de-escalation in tensions is required". And Thanos Vamvakidis, at Bank of America Merrill Lynch, told Bloomberg TV "we are not out of the woods yet". Markets are also getting some support from rare signs of progress in the Brexit saga after British Prime Minister Boris Johnson and his Irish counterpart Leo Varadkar said they could see a route towards striking a possible divorce deal. After hours of talks regarding the vexed question of Northern Ireland, the two issued a joint statement that said: "Both continue to believe a deal is in everybody's interest. They agreed that they could see a pathway to a possible deal." While Varadkar said there were still hurdles to overcome, the news did provide some much-needed hope in the crisis after German Chancellor Angela Merkel was reported to have said Brexit talks were "close to breaking down". The pound surged two per cent against the dollar on Thursday and also rallied on the euro, and in early Asian trade managed to hold its ground. "The positive vibe has raised some hope for a chance of a Brexit deal ahead of the EU summit at the end of next week," NAB's Catril added. Hopes for the China-US talks helped oil prices higher, with traders also cheered by OPEC Secretary-General Mohammad Barkindo saying the grouping of the world's giant producers would do what it could to avert another slump. Both main contracts rose Friday, having put on more than one per cent the day before.

Asian markets rally as Trump says trade talks 'going very well'

Equity benchmark indices jumped over 1 per cent during early hours on Friday as bullish market mood prevailed in global markets after the first day of trade talks between top US and Chinese negotiators.

At 10:15 am, the BSE S&amp;P Sensex was up by 421 points at 38,301 while the Nifty 50 edged higher by 114 points to 11,348.

Except for IT and pharma, all sectoral indices at the National Stock Exchange were in the green while Nifty metal gaining 3.1 per cent.

Among stocks, Vedanta edged higher by 4 per cent to Rs 147 per share while Hindalco was up by 3.5 per cent, Tata Steel by 3.3 per cent and JSW Steel by 2.7 per cent.

The other prominent gainers were Coal India, ONGC, UltraTech Cement, State Bank of India, Kotak Mahindra Bank and Infosys.

However, tech majors lost. Tata Consultancy Services was down by 2.8 per cent a day after the company reported 2 per cent jump in its second-quarter profit at Rs 8,042 crore, lower than the expected numbers.

Tech Mahindra was also down by 0.9 per cent. Pharma majors Cipla and Sun Pharma along with Bharti Airtel, Reliance Industries and Bharat Petroleum too were in the red.

Meanwhile, Asian shares and US stock futures rose on after US President Donald Trump said he will meet with China's top trade negotiator.

The MSCI's broadest index of Asia Pacific shares outside Japan rose by 0.5 per cent following on from gains on Wall Street while Japan's Nikkei stock index gained by 0.9 per cent. Hong Kong's Hang Seng moved up by 2.2 per cent and South Korea`s Kospi by 1 per cent.

Equity benchmark indices jumped over 1 per cent during early hours on Friday as bullish market mood prevailed in global markets after the first day of trade talks between top US and Chinese negotiators.

Equity benchmark indices jumped over 1 per cent during early hours on Friday as bullish market mood prevailed in global markets after the first day of trade talks between top US and Chinese negotiators. At 10:15 am, the BSE S&P Sensex was up by 421 points at 38,301 while the Nifty 50 edged higher by 114 points to 11,348. Except for IT and pharma, all sectoral indices at the National Stock Exchange were in the green while Nifty metal gaining 3.1 per cent. Among stocks, Vedanta edged higher by 4 per cent to Rs 147 per share while Hindalco was up by 3.5 per cent, Tata Steel by 3.3 per cent and JSW Steel by 2.7 per cent. The other prominent gainers were Coal India, ONGC, UltraTech Cement, State Bank of India, Kotak Mahindra Bank and Infosys. However, tech majors lost. Tata Consultancy Services was down by 2.8 per cent a day after the company reported 2 per cent jump in its second-quarter profit at Rs 8,042 crore, lower than the expected numbers. Tech Mahindra was also down by 0.9 per cent. Pharma majors Cipla and Sun Pharma along with Bharti Airtel, Reliance Industries and Bharat Petroleum too were in the red. Meanwhile, Asian shares and US stock futures rose on after US President Donald Trump said he will meet with China's top trade negotiator. The MSCI's broadest index of Asia Pacific shares outside Japan rose by 0.5 per cent following on from gains on Wall Street while Japan's Nikkei stock index gained by 0.9 per cent. Hong Kong's Hang Seng moved up by 2.2 per cent and South Korea`s Kospi by 1 per cent.

Sensex jumps over 400 points on global cues, metal stocks shine

Industrial output contracted by minus 1.1 per cent in August month-on-month due to poor performance by manufacturing, power generation and mining sectors, data released by the government on Friday showed.

The quick estimates of Index of Industrial Production (IIP) with base 2011-12 for August stands at 126.6, which is 1.1 per cent lower as compared to the level in August 2018, said the statement.

The manufacturing sector, which contributes over 77 per cent to the IIP, showed a decline of 1.2 per cent in output during August 2019 as against a growth of 5.2 per cent in the same month of last year.

The industry group `manufacture of motor vehicles, trailers and semi-trailers` showed the highest negative growth of minus 23.1 per cent followed by minus 21.7 per cent in `manufacture of machinery and equipment` and minus 18 per cent in `other manufacturing.

`Electricity generation declined by 0.9 per cent as against an expansion of 7.6 per cent in the year-ago month. The cumulative growth for April to August year-on-year stands at 2.4 per cent, said the statement. 
&nbsp;

Industrial output contracted by minus 1.1 per cent in August month-on-month due to poor performance by manufacturing, power generation and mining sectors, data released by the government on Friday showed.

Industrial output contracted by minus 1.1 per cent in August month-on-month due to poor performance by manufacturing, power generation and mining sectors, data released by the government on Friday showed. The quick estimates of Index of Industrial Production (IIP) with base 2011-12 for August stands at 126.6, which is 1.1 per cent lower as compared to the level in August 2018, said the statement. The manufacturing sector, which contributes over 77 per cent to the IIP, showed a decline of 1.2 per cent in output during August 2019 as against a growth of 5.2 per cent in the same month of last year. The industry group `manufacture of motor vehicles, trailers and semi-trailers` showed the highest negative growth of minus 23.1 per cent followed by minus 21.7 per cent in `manufacture of machinery and equipment` and minus 18 per cent in `other manufacturing. `Electricity generation declined by 0.9 per cent as against an expansion of 7.6 per cent in the year-ago month. The cumulative growth for April to August year-on-year stands at 2.4 per cent, said the statement.

Industrial production slips by 1.1 per cent in August due to poor performance

IT services major Infosys said on Friday its consolidated net profit dropped by 2.2 per cent to Rs 4,019 crore for the July to September quarter amid the domestic and global slowdown.

It had recorded a profit of Rs 4,110 crore in the year-ago period.

Sequentially, however, the profit moved up 5.8 per cent from Rs 3,798 crore in the April to June quarter.

In constant currency terms, Infosys posted revenue growth of 11.4 per cent year-on-year while in US dollar terms, the numbers grew by 9.9 per cent.

In rupee terms, the revenue totalled Rs 22,629 crore, up 9.8 per cent year-on-year and 3.8 per cent quarter-on-quarter.

Operating profit was Rs 4,912 crore, marking a timid growth of 0.4 year-on-year and 9.9 per cent quarter-on-quarter.

The operating margin was 21.7 per cent with basic earning per share at Rs 9.46, virtually flat year-on-year but with a growth of 7.1 per cent quarter-on-quarter.

The company also announced an interim dividend of Rs 8 per share."Our performance was robust on multiple dimensions -- revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition," said Managing Director and CEO Salil Parekh.

"Q2 witnessed another quarter of all-round growth in industry segments and geographies which is a testimony to our strong credentials and client relevance," he said.

"Large deal wins were 2.8 billion dollars. We are especially pleased by the reduction in attrition driven by our focus on the enhanced employee value proposition."

Infosys management revised its full-year constant currency revenue growth guidance to 9 to 10 per cent from 8.5 to 10 per cent earlier.

IT services major Infosys said on Friday its consolidated net profit dropped by 2.2 per cent to Rs 4,019 crore for the July to September quarter amid the domestic and global slowdown.

IT services major Infosys said on Friday its consolidated net profit dropped by 2.2 per cent to Rs 4,019 crore for the July to September quarter amid the domestic and global slowdown. It had recorded a profit of Rs 4,110 crore in the year-ago period. Sequentially, however, the profit moved up 5.8 per cent from Rs 3,798 crore in the April to June quarter. In constant currency terms, Infosys posted revenue growth of 11.4 per cent year-on-year while in US dollar terms, the numbers grew by 9.9 per cent. In rupee terms, the revenue totalled Rs 22,629 crore, up 9.8 per cent year-on-year and 3.8 per cent quarter-on-quarter. Operating profit was Rs 4,912 crore, marking a timid growth of 0.4 year-on-year and 9.9 per cent quarter-on-quarter. The operating margin was 21.7 per cent with basic earning per share at Rs 9.46, virtually flat year-on-year but with a growth of 7.1 per cent quarter-on-quarter. The company also announced an interim dividend of Rs 8 per share."Our performance was robust on multiple dimensions -- revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition," said Managing Director and CEO Salil Parekh. "Q2 witnessed another quarter of all-round growth in industry segments and geographies which is a testimony to our strong credentials and client relevance," he said. "Large deal wins were 2.8 billion dollars. We are especially pleased by the reduction in attrition driven by our focus on the enhanced employee value proposition." Infosys management revised its full-year constant currency revenue growth guidance to 9 to 10 per cent from 8.5 to 10 per cent earlier.

Infosys Q2 net dips 2 per cent year-on-year to Rs 4,019 crore

Hyundai Motor Co&nbsp;and affiliate Kia Motors Corp&nbsp;have earmarked a total of $757.86 million&nbsp;to settle US&nbsp;class action litigation and address engine-related issues in the United States and South Korea.

Hyundai Motor will reflect about 600 billion won in costs related to engine problems in July to September earnings, while affiliate Kia Motors has set aside about 300 billion won, they said on Friday.

The latest settlement provides installation of a software update to boost safety and performance, as well as cash compensation options, lifetime warranties, free inspection and repair of the covered engines, the automakers said in a statement.

A total of 4.17 million Hyundai and Kia models equipped with Theta II gasoline direct injection (GDI) engines will be affected by the US&nbsp;settlement.

Hyundai and Kia, together the world's fifth-biggest automaker by sales, <a href="https://www.wionews.com/science-tech/hyundai-kia-ordered-to-recall-vehicles-after-whistleblower-report-15490">recalled nearly 1.7 million vehicles i</a>n the United States to address the possibility of engine fires.

The US&nbsp;safety regulator is investigating whether the recalls covered enough vehicles and were conducted in a timely manner.

The investigation comes after Kim Gwang-ho, then an engineer at Hyundai, flew to Washington in 2016 to tell the National Highway Traffic Safety Administration the companies should have recalled more vehicles over the problem, citing an internal report.

In November, Reuters reported that US&nbsp;federal prosecutors had launched a criminal investigation into the pair to determine if the recalls had been conducted properly.

Hyundai and Kia said they expected the US&nbsp;District Court for the Central District of California to review the proposed settlement for preliminary approval before the end of October.

Hyundai Motor Co and affiliate Kia Motors Corp have earmarked a total of $757.86 million to settle US class action litigation and address engine-related issues in the United States and South Korea.

Hyundai Motor Co and affiliate Kia Motors Corp have earmarked a total of $757.86 million to settle US class action litigation and address engine-related issues in the United States and South Korea. Hyundai Motor will reflect about 600 billion won in costs related to engine problems in July to September earnings, while affiliate Kia Motors has set aside about 300 billion won, they said on Friday. The latest settlement provides installation of a software update to boost safety and performance, as well as cash compensation options, lifetime warranties, free inspection and repair of the covered engines, the automakers said in a statement. A total of 4.17 million Hyundai and Kia models equipped with Theta II gasoline direct injection (GDI) engines will be affected by the US settlement. Hyundai and Kia, together the world's fifth-biggest automaker by sales, recalled nearly 1.7 million vehicles in the United States to address the possibility of engine fires. The US safety regulator is investigating whether the recalls covered enough vehicles and were conducted in a timely manner. The investigation comes after Kim Gwang-ho, then an engineer at Hyundai, flew to Washington in 2016 to tell the National Highway Traffic Safety Administration the companies should have recalled more vehicles over the problem, citing an internal report. In November, Reuters reported that US federal prosecutors had launched a criminal investigation into the pair to determine if the recalls had been conducted properly. Hyundai and Kia said they expected the US District Court for the Central District of California to review the proposed settlement for preliminary approval before the end of October.

Hyundai, Kia earmark $760 million to settle US lawsuits over engine fires

The board of French carmaker Renault on Friday voted in favor of ousting Thierry Bollore as CEO, said two sources familiar with the matter.

Renault, along with alliance partner Nissan, is still reeling from the arrest in Tokyo last year of former boss Carlos Ghosn on allegations of financial misconduct, which Ghosn denies.

Bollore, who had long been Ghosn's right-hand man, was promoted to help steady Renault this year, with Jean-Dominique Senard hired from Michelin to chair the group, shares in which rose 2.7 per cent in morning trade.

Officials at Renault were not immediately available to comment.

Bollore had skirted the matter of his potential exit in a conversation with staff on Thursday, two company sources said, but in a later interview with French newspaper Les Echos, he described his possible departure as a "coup".

Renault finance chief Clotilde Delbos has been&nbsp;named as interim CEO to replace Bollore.&nbsp;

The board of French carmaker Renault on Friday voted in favor of ousting Thierry Bollore as CEO, said two sources familiar with the matter. Renault, along with alliance partner Nissan, is still reeling from the arrest in Tokyo last year of former boss Carlos Ghosn on allegations of financial misconduct, which Ghosn denies.

The board of French carmaker Renault on Friday voted in favor of ousting Thierry Bollore as CEO, said two sources familiar with the matter. Renault, along with alliance partner Nissan, is still reeling from the arrest in Tokyo last year of former boss Carlos Ghosn on allegations of financial misconduct, which Ghosn denies. Bollore, who had long been Ghosn's right-hand man, was promoted to help steady Renault this year, with Jean-Dominique Senard hired from Michelin to chair the group, shares in which rose 2.7 per cent in morning trade. Officials at Renault were not immediately available to comment. Bollore had skirted the matter of his potential exit in a conversation with staff on Thursday, two company sources said, but in a later interview with French newspaper Les Echos, he described his possible departure as a "coup". Renault finance chief Clotilde Delbos has been named as interim CEO to replace Bollore.

Renault board votes to oust Thierry Bollore as CEO: Sources

Nike said on Friday it plans to shut down its Oregon Project training group after top athletics coach Alberto Salazar was banned for four years for doping.

Salazar, best known for coaching Britain's four-time Olympic champion Mo Farah, was last week handed a four-year suspension by the United States Anti-Doping Agency (USADA) for a catalogue of drug violations.

The US sportswear giant had initially backed Salazar's plans to appeal against the decision after the 61-year-old Cuban-born American denied the allegations.

But in a memo to staff, Nike CEO Mark Parker said the project was being terminated because of the scandal.

"This situation, along with ongoing unsubstantiated assertions, is a distraction for many of the athletes and is compromising their ability to focus on their training and competition needs," Parker said.

"I have therefore made the decision to wind down the Oregon Project."

Parker said however that Nike would still support Salazar in his appeal.

"A four-year suspension for someone who acted in good faith is wrong," said Parker in the memo, adding that "the panel found there was no orchestrated doping, no finding that performance-enhancing drugs have ever been used on Oregon Project athletes and went out of its way to note Alberto’s desire to follow all rules".

However, he admitted that "Alberto can no longer coach while the appeal is pending".

Athletes from the Oregon Project won three gold medals at the World Athletics Championships this month. Sifan Hassan of the Netherlands won the women's 1500 metres and 10,000 while Donavan Brazier of the US took the men's 800m gold. There is no suggestion either athlete has been involved in doping.

Nike's decision to shut down the project came after athletes including US runner Kara Goucher, who was coached by Salazar from 2004 to 2011 and provided key evidence in the case against him, told the BBC Nike could not justify keeping it open.

"It (NOP) has to go," Goucher said.

"If I was Nike I'd be bringing in some new coaches and move on from this Oregon Project because clearly it had principles, not in line with clean sport and we have to just start over."

Jeffrey Brown, a Texas endocrinologist who treated many of Salazar's athletes at the Oregon training hub in Portland, was also suspended for four years.

Nike said on Friday it plans to shut down its Oregon Project training group after top athletics coach Alberto Salazar was banned for four years for doping. Salazar, best known for coaching Britain's four-time Olympic champion Mo Farah, was last week handed a four-year suspension by the United States Anti-Doping Agency (USADA) for a catalogue of drug violations.

Nike said on Friday it plans to shut down its Oregon Project training group after top athletics coach Alberto Salazar was banned for four years for doping. Salazar, best known for coaching Britain's four-time Olympic champion Mo Farah, was last week handed a four-year suspension by the United States Anti-Doping Agency (USADA) for a catalogue of drug violations. The US sportswear giant had initially backed Salazar's plans to appeal against the decision after the 61-year-old Cuban-born American denied the allegations. But in a memo to staff, Nike CEO Mark Parker said the project was being terminated because of the scandal. "This situation, along with ongoing unsubstantiated assertions, is a distraction for many of the athletes and is compromising their ability to focus on their training and competition needs," Parker said. "I have therefore made the decision to wind down the Oregon Project." Parker said however that Nike would still support Salazar in his appeal. "A four-year suspension for someone who acted in good faith is wrong," said Parker in the memo, adding that "the panel found there was no orchestrated doping, no finding that performance-enhancing drugs have ever been used on Oregon Project athletes and went out of its way to note Alberto’s desire to follow all rules". However, he admitted that "Alberto can no longer coach while the appeal is pending". Athletes from the Oregon Project won three gold medals at the World Athletics Championships this month. Sifan Hassan of the Netherlands won the women's 1500 metres and 10,000 while Donavan Brazier of the US took the men's 800m gold. There is no suggestion either athlete has been involved in doping. Nike's decision to shut down the project came after athletes including US runner Kara Goucher, who was coached by Salazar from 2004 to 2011 and provided key evidence in the case against him, told the BBC Nike could not justify keeping it open. "It (NOP) has to go," Goucher said. "If I was Nike I'd be bringing in some new coaches and move on from this Oregon Project because clearly it had principles, not in line with clean sport and we have to just start over." Jeffrey Brown, a Texas endocrinologist who treated many of Salazar's athletes at the Oregon training hub in Portland, was also suspended for four years.

Nike shuts down Oregon Project after coach Alberto Salazar banned

Office-sharing startup&nbsp;WeWork&nbsp;will&nbsp;open&nbsp;new&nbsp;locations in&nbsp;Singapore&nbsp;and the Philippines this year, it said, even as it seeks a $1 billion lifeline from its biggest-backer Softbank Group&nbsp;Corp&nbsp;for a major restructuring.

The&nbsp;New&nbsp;York-based startup, which abandoned an initial public offering last week over investor&nbsp;concerns about its valuation and business model, will&nbsp;open&nbsp;two&nbsp;new&nbsp;offices for&nbsp;co-working&nbsp;in&nbsp;Singapore&nbsp;and two in&nbsp;Manila.

It made the announcements on Wednesday and Thursday.

The plan to boost its footprint in the two Southeast Asian cities follows a reports that its parent, The We&nbsp;Company, was&nbsp;considering curbing expansion plans in China to&nbsp;control&nbsp;costs.

The loss-making start-up is looking to trim its workforce and slow expansion to preserve cash as it seeks alternative sources of funding, sources have told Reuters.

A&nbsp;WeWork&nbsp;spokeswoman said in an email on Thursday that the&nbsp;company was "strengthening&nbsp;WeWork's presence in the region".

WeWork&nbsp;now has 25 locations across Southeast Asia, 12 of them in&nbsp;Singapore.

Office-sharing startup WeWork will open new locations in Singapore and the Philippines this year, it said, even as it seeks a $1 billion lifeline from its biggest-backer Softbank Group Corp for a major restructuring.

Office-sharing startup WeWork will open new locations in Singapore and the Philippines this year, it said, even as it seeks a $1 billion lifeline from its biggest-backer Softbank Group Corp for a major restructuring. The New York-based startup, which abandoned an initial public offering last week over investor concerns about its valuation and business model, will open two new offices for co-working in Singapore and two in Manila. It made the announcements on Wednesday and Thursday. The plan to boost its footprint in the two Southeast Asian cities follows a reports that its parent, The We Company, was considering curbing expansion plans in China to control costs. The loss-making start-up is looking to trim its workforce and slow expansion to preserve cash as it seeks alternative sources of funding, sources have told Reuters. A WeWork spokeswoman said in an email on Thursday that the company was "strengthening WeWork's presence in the region". WeWork now has 25 locations across Southeast Asia, 12 of them in Singapore.

WeWork to open new co-working sites in Singapore and Manila

A slide in banking stocks dragged Indian shares lower on Thursday following a sharp rise in the previous session, as markets awaited earnings reports from major IT services companies.

Shares in Indiabulls Housing Finance Ltd fell 9 per cent&nbsp;after the central bank blocked its proposed merger with Lakshmi Vilas Bank Ltd.

It was the latest in a series of negative headlines surrounding the banking industry, which is saddled with a mountain of soured debt.

The broader NSE Nifty was down 0.35 per cent at 11,273.60 by 0437 GMT, while the benchmark BSE Sensex was weaker by 0.31 per cent&nbsp;at 38,060.12.

All 12 stocks on the Nifty bank index were in the red, and RBL Bank Ltd was the biggest decliner with a drop of 4.1 per cent.

IT services firm Tata Consultancy Services Ltd (TCS) will report its financial results later in the day, marking the start of the September-quarter earnings season. Industry peer

Infosys Ltd is scheduled to report its results on Friday. Shares in both TCS and Infosys were each up roughly 1 per cent.

Meanwhile, telecom stocks rose after Reliance Jio said it would start charging customers for calls made through its network to other operators.

The move could signal a rise in industry prices and revenues if more operators follow Jio's lead, analysts say.

Jio's rivals Bharti Airtel Ltd and Vodafone Idea Ltd gained 3.8 per cent&nbsp;and 4.3 per cent, respectively. Shares in Grasim Industries Ltd, the top shareholder in Vodafone Idea, rose 4.5 per cent. 
&nbsp;

A slide in banking stocks dragged Indian shares lower on Thursday following a sharp rise in the previous session, as markets awaited earnings reports from major IT services companies.

A slide in banking stocks dragged Indian shares lower on Thursday following a sharp rise in the previous session, as markets awaited earnings reports from major IT services companies. Shares in Indiabulls Housing Finance Ltd fell 9 per cent after the central bank blocked its proposed merger with Lakshmi Vilas Bank Ltd. It was the latest in a series of negative headlines surrounding the banking industry, which is saddled with a mountain of soured debt. The broader NSE Nifty was down 0.35 per cent at 11,273.60 by 0437 GMT, while the benchmark BSE Sensex was weaker by 0.31 per cent at 38,060.12. All 12 stocks on the Nifty bank index were in the red, and RBL Bank Ltd was the biggest decliner with a drop of 4.1 per cent. IT services firm Tata Consultancy Services Ltd (TCS) will report its financial results later in the day, marking the start of the September-quarter earnings season. Industry peer Infosys Ltd is scheduled to report its results on Friday. Shares in both TCS and Infosys were each up roughly 1 per cent. Meanwhile, telecom stocks rose after Reliance Jio said it would start charging customers for calls made through its network to other operators. The move could signal a rise in industry prices and revenues if more operators follow Jio's lead, analysts say. Jio's rivals Bharti Airtel Ltd and Vodafone Idea Ltd gained 3.8 per cent and 4.3 per cent, respectively. Shares in Grasim Industries Ltd, the top shareholder in Vodafone Idea, rose 4.5 per cent.

Sensex, Nifty retreat as banks fall; Indiabulls dips 9%

Oil prices fell on Thursday on concerns of lower fuel demand as talks this week between the United States and China, the world's two largest oil users, are not expected to help end the<a href="https://www.wionews.com/world/us-expands-blacklist-to-include-chinas-top-ai-startups-ahead-of-trade-talks-254672"> trade war between them</a>, adding to anxieties about the global economy.

China, the world's biggest oil importer, has lowered its expectations for talks on Thursday and Friday to end the 15-month-old trade dispute with the United States. US&nbsp;President Donald Trump is set to raise the tariff rate on about $250 billion of Chinese goods to 30 per cent&nbsp;from 25 per cent&nbsp;on October&nbsp;15 if some signs of progress are not seen.

The trade dispute between the world's two largest economies has disrupted global supply chains and slowed the growth of both countries, limiting the growth of their fuel consumption.

Global benchmark Brent crude futures fell 11 cents, or 0.2 per cent, to $58.21 a barrel by 0354 GMT, while US&nbsp;West Texas Intermediate (WTI) futures were down 11 cents, or 0.2 per cent, at $52.48 per barrel.

"Should US-China trade negotiations take a turn for the worst, market pessimism will impose sharp negative pressures on oil prices, said Benjamin Lu, commodities analyst at Phillip Futures in Singapore.

Prices were also weighed down by a report of rising stockpiles in the United States, which is also currently the world's biggest oil producer.

US&nbsp;crude stocks rose 2.9 million barrels in the week to October&nbsp;4, the Energy Information Administration (EIA) said on Wednesday, more than double analysts' expectations of an increase of 1.4 million barrels.

Additionally, the Organization of the Petroleum Exporting Countries (OPEC) quietly adjusted its production pact to allow Nigeria to raise its output, adding more supply.

OPEC granted Nigeria raised the quota to 1.774 million barrels per day (bpd) from 1.685 million bpd, three OPEC delegates with knowledge of the matter said.

OPEC member Venezuela will also increase its exports despite <a href="https://www.wionews.com/world/us-ready-to-target-other-countries-for-supporting-venezuelas-maduro-241275">US&nbsp;economic sanctions </a>that have curtailed shipments from the country.

Indian refiner Reliance Industries Ltd plans to start loading Venezuelan crude after a four-month pause, in a further sign of expanding crude supply to the market.

Oil prices fell on Thursday on concerns of lower fuel demand as talks this week between the United States and China, the world's two largest oil users, are not expected to help end the trade war between them, adding to anxieties about the global economy.

Oil prices fell on Thursday on concerns of lower fuel demand as talks this week between the United States and China, the world's two largest oil users, are not expected to help end the trade war between them, adding to anxieties about the global economy. China, the world's biggest oil importer, has lowered its expectations for talks on Thursday and Friday to end the 15-month-old trade dispute with the United States. US President Donald Trump is set to raise the tariff rate on about $250 billion of Chinese goods to 30 per cent from 25 per cent on October 15 if some signs of progress are not seen. The trade dispute between the world's two largest economies has disrupted global supply chains and slowed the growth of both countries, limiting the growth of their fuel consumption. Global benchmark Brent crude futures fell 11 cents, or 0.2 per cent, to $58.21 a barrel by 0354 GMT, while US West Texas Intermediate (WTI) futures were down 11 cents, or 0.2 per cent, at $52.48 per barrel. "Should US-China trade negotiations take a turn for the worst, market pessimism will impose sharp negative pressures on oil prices, said Benjamin Lu, commodities analyst at Phillip Futures in Singapore. Prices were also weighed down by a report of rising stockpiles in the United States, which is also currently the world's biggest oil producer. US crude stocks rose 2.9 million barrels in the week to October 4, the Energy Information Administration (EIA) said on Wednesday, more than double analysts' expectations of an increase of 1.4 million barrels. Additionally, the Organization of the Petroleum Exporting Countries (OPEC) quietly adjusted its production pact to allow Nigeria to raise its output, adding more supply. OPEC granted Nigeria raised the quota to 1.774 million barrels per day (bpd) from 1.685 million bpd, three OPEC delegates with knowledge of the matter said. OPEC member Venezuela will also increase its exports despite US economic sanctions that have curtailed shipments from the country. Indian refiner Reliance Industries Ltd plans to start loading Venezuelan crude after a four-month pause, in a further sign of expanding crude supply to the market.

Oil prices fall as hopes for US-China trade progress wilt

Indian retail inflation probably reached a 12-month high in September, still leaving room for further interest rate cuts because it's expected to remain below the Reserve Bank of India's target, according to a Reuters poll.

An extended monsoon has delayed harvests and interrupted the supplies of vegetables like onions, a key ingredient in Indian kitchens. That probably pushed retail inflation higher last month; food prices account for over half the inflation basket.

Any previous sharp rise in onion prices has been painful for Indian policymakers. To keep that price surge from spiralling out of control, as it did a few years ago, the government has banned onion exports.

The October&nbsp;4-9 poll of over 40 economists predicted India's annual consumer inflation rose to 3.7 per cent&nbsp;in September, its highest in a year. Forecasts ranged from 3.10&nbsp;per cent&nbsp;to 3.92 per cent. Only two economists expected inflation to be lower than August's 3.21 per cent.

If the consensus is right, inflation will come in below the RBI's medium-term target for 14 months in a row. The inflation data are due on October&nbsp;14.

"Headline consumer price inflation likely jumped in September on the back of a surge in onion prices. But that will hardly bring tears to the eyes of the RBI, as it is likely to have stayed below the 4.0&nbsp;per cent&nbsp;target," said Shilan Shah, senior India economist at Capital Economics.

"Another rate cut in December seems likely."

Subdued inflation and an economic slowdown have allowed the RBI to cut interest rates by a total of 135 basis points this year, including a 25-basis-point cut last week, making it the most aggressive central bank in Asia.

Economists in a separate Reuters poll said the central bank was not yet done with rate cuts.

"The RBI has been quite vocal about the fact that they would continue to support growth and they have left the door open for more policy cuts," Sakshi Gupta, senior India economist at HDFC Bank.

Indian retail inflation probably reached a 12-month high in September, still leaving room for further interest rate cuts because it's expected to remain below the Reserve Bank of India's target, according to a Reuters poll.

Indian retail inflation probably reached a 12-month high in September, still leaving room for further interest rate cuts because it's expected to remain below the Reserve Bank of India's target, according to a Reuters poll. An extended monsoon has delayed harvests and interrupted the supplies of vegetables like onions, a key ingredient in Indian kitchens. That probably pushed retail inflation higher last month; food prices account for over half the inflation basket. Any previous sharp rise in onion prices has been painful for Indian policymakers. To keep that price surge from spiralling out of control, as it did a few years ago, the government has banned onion exports. The October 4-9 poll of over 40 economists predicted India's annual consumer inflation rose to 3.7 per cent in September, its highest in a year. Forecasts ranged from 3.10 per cent to 3.92 per cent. Only two economists expected inflation to be lower than August's 3.21 per cent. If the consensus is right, inflation will come in below the RBI's medium-term target for 14 months in a row. The inflation data are due on October 14. "Headline consumer price inflation likely jumped in September on the back of a surge in onion prices. But that will hardly bring tears to the eyes of the RBI, as it is likely to have stayed below the 4.0 per cent target," said Shilan Shah, senior India economist at Capital Economics. "Another rate cut in December seems likely." Subdued inflation and an economic slowdown have allowed the RBI to cut interest rates by a total of 135 basis points this year, including a 25-basis-point cut last week, making it the most aggressive central bank in Asia. Economists in a separate Reuters poll said the central bank was not yet done with rate cuts. "The RBI has been quite vocal about the fact that they would continue to support growth and they have left the door open for more policy cuts," Sakshi Gupta, senior India economist at HDFC Bank.

India's inflation surged in September but won't 'bring tears' to RBI: Report

Asian markets rose Thursday but investors moved cautiously as they sifted through conflicting reports about the outlook for upcoming China-US trade talks.

Global investors have been broadly upbeat in recent weeks that the meeting in Washington between top-level representatives would see at least some progress.

But with the much-anticipated gathering due to start within hours, Hong Kong's South China Morning Post reported pre-meeting discussions had not made any progress on key areas such as forced technology transfers and would be cut in half to just one day.

That came after Wall Street's three main indexes had ended with healthy gains on reports that a pared-down deal was still possible, with Beijing boosting agricultural purchases and the US delaying the imposition of new tariffs next week.

Tensions were already showing this week after the US unveiled restrictions on 28 Chinese entities over human rights violations in Xinjiang province and imposed visa restrictions on some officials, while a report said the White House was considering curtailing US investment in the country.

For its part, sources were reported to have said China had narrowed the issues it was willing to discuss as it felt in a stronger position owing to Donald Trump facing an impeachment inquiry at home and a weakening economy.

The SCMP report "reverses the trade optimism that was dominating overnight flow as investors were hoping that at minimum, some type of a deal could be forged", said Stephen Innes, Asia-Pacific market strategist at AxiTrader.

'Petals from a flower'

"So instead of debating how encompassing the deal might be, investors are now back to plucking petals from a flower guessing if there will be a deal at all."

On regional markets Shanghai and Hong Kong each rose 0.4 per cent while Tokyo went into the break 0.5 per cent higher. Sydney and Singapore each added 0.1 per cent, with Manila and Jakarta also higher.

Wellington was flat and Seoul sank 0.8 per cent.

In foreign exchanges, the dollar was lower against most other currencies after minutes from the Federal Reserve's September policy meeting showed it was growing concerned about the impact of Trump's trade war.

The central bank is expected to cut interest rates for the third time when the board meets again later this month.

The minutes "revealed greater concerns over downside risk from slowing global growth and trade tensions with subdued inflation also seen as a reason to cut", said Rodrigo Catril at National Australia Bank.

But he pointed out that "a few officials saw the need to push back against market Fed rate cut expectations".

Oil prices extended Wednesday's losses following data showing a bigger-than-forecast pick-up in US inventories that reinforced worries about the impact on demand from a global slowdown and trade frictions.

The data reversed a rally of more than one per cent in the commodity that came after Turkey launched an offensive against Kurdish militants in northern Syria.

Asian markets rose Thursday but investors moved cautiously as they sifted through conflicting reports about the outlook for upcoming China-US trade talks. Global investors have been broadly upbeat in recent weeks that the meeting in Washington between top-level representatives would see at least some progress.

Asian markets rose Thursday but investors moved cautiously as they sifted through conflicting reports about the outlook for upcoming China-US trade talks. Global investors have been broadly upbeat in recent weeks that the meeting in Washington between top-level representatives would see at least some progress. But with the much-anticipated gathering due to start within hours, Hong Kong's South China Morning Post reported pre-meeting discussions had not made any progress on key areas such as forced technology transfers and would be cut in half to just one day. That came after Wall Street's three main indexes had ended with healthy gains on reports that a pared-down deal was still possible, with Beijing boosting agricultural purchases and the US delaying the imposition of new tariffs next week. Tensions were already showing this week after the US unveiled restrictions on 28 Chinese entities over human rights violations in Xinjiang province and imposed visa restrictions on some officials, while a report said the White House was considering curtailing US investment in the country. For its part, sources were reported to have said China had narrowed the issues it was willing to discuss as it felt in a stronger position owing to Donald Trump facing an impeachment inquiry at home and a weakening economy. The SCMP report "reverses the trade optimism that was dominating overnight flow as investors were hoping that at minimum, some type of a deal could be forged", said Stephen Innes, Asia-Pacific market strategist at AxiTrader. 'Petals from a flower' "So instead of debating how encompassing the deal might be, investors are now back to plucking petals from a flower guessing if there will be a deal at all." On regional markets Shanghai and Hong Kong each rose 0.4 per cent while Tokyo went into the break 0.5 per cent higher. Sydney and Singapore each added 0.1 per cent, with Manila and Jakarta also higher. Wellington was flat and Seoul sank 0.8 per cent. In foreign exchanges, the dollar was lower against most other currencies after minutes from the Federal Reserve's September policy meeting showed it was growing concerned about the impact of Trump's trade war. The central bank is expected to cut interest rates for the third time when the board meets again later this month. The minutes "revealed greater concerns over downside risk from slowing global growth and trade tensions with subdued inflation also seen as a reason to cut", said Rodrigo Catril at National Australia Bank. But he pointed out that "a few officials saw the need to push back against market Fed rate cut expectations". Oil prices extended Wednesday's losses following data showing a bigger-than-forecast pick-up in US inventories that reinforced worries about the impact on demand from a global slowdown and trade frictions. The data reversed a rally of more than one per cent in the commodity that came after Turkey launched an offensive against Kurdish militants in northern Syria.

Asia markets rise as dealers nervously await start of trade talks

The government on Thursday set up a high-level committee of officers to look into Goods and Services Tax (GST) revenue shortfall being faced by states and suggest measures for increasing collections.

It will submit its first report within 15 days.

&nbsp;"The committee of officers from the Centre and the states is required to suggest steps to be taken to improve revenue," according to an official statement released by the GST Council Secretariat.

The 12-member panel -- with commissioners from state GST council of Maharashtra, Tamil Nadu, Uttar Pradesh, West Bengal and Punjab -- has been formed by the GST Council to look into revenue shortfall being faced by the states post implementation of GST.

"Any other states which would like to join the committee may volunteer by writing to the GST Council Secretariat," the GST Council stated.&nbsp;

The committee has been tasked with suggesting measures to boost GST collections, to make businesses comply with GST voluntarily and suggest ways for better administrative coordination.

It will look into issues such as systematic changes in GST to prevent misuse, measures for expansion of tax base, improved compliance monitoring and anti-evasion measures using better data analytics and better administrative coordination.

The committee will also suggest measures to improve voluntary compliance, policy measures and relevant changes in the law.&nbsp;

The government on Thursday set up a high-level committee of officers to look into Goods and Services Tax (GST) revenue shortfall being faced by states and suggest measures for increasing collections.

The government on Thursday set up a high-level committee of officers to look into Goods and Services Tax (GST) revenue shortfall being faced by states and suggest measures for increasing collections. It will submit its first report within 15 days. "The committee of officers from the Centre and the states is required to suggest steps to be taken to improve revenue," according to an official statement released by the GST Council Secretariat. The 12-member panel -- with commissioners from state GST council of Maharashtra, Tamil Nadu, Uttar Pradesh, West Bengal and Punjab -- has been formed by the GST Council to look into revenue shortfall being faced by the states post implementation of GST. "Any other states which would like to join the committee may volunteer by writing to the GST Council Secretariat," the GST Council stated. The committee has been tasked with suggesting measures to boost GST collections, to make businesses comply with GST voluntarily and suggest ways for better administrative coordination. It will look into issues such as systematic changes in GST to prevent misuse, measures for expansion of tax base, improved compliance monitoring and anti-evasion measures using better data analytics and better administrative coordination. The committee will also suggest measures to improve voluntary compliance, policy measures and relevant changes in the law.

Government sets up 12-member panel to look into GST revenue shortfall

Indian markets closed lower on Thursday, led by a sharp drop in banking shares, while investors awaited a raft of second-quarter corporate earnings including that of Tata Consultancy Services Ltd (TCS) due later in the day.

Software services firm TCS, the second-largest Indian company by market value, is scheduled to report its September-quarter results later in the day, while its industry peer Infosys Ltd will announce results on Friday.

The broader NSE Nifty ended 0.70% lower at 11,234.55, while the benchmark BSE Sensex closed down 0.78% at 37,880.

All stocks in the Nifty bank index ended in the red, and the index closed 2.68% lower.

Shares in Indiabulls Housing Finance Ltd dived 18.5% after hitting a near six-year low as the Reserve Bank of India (RBI) blocked its proposed merger with Lakshmi Vilas Bank.

The central bank's move represented the latest in a series of negative headlines for India's banking industry, that is struggling with a mountain of bad debt.

India's finance minister Nirmala Sitharaman said on Thursday the government would consider passing stricter laws to curb malpractices at co-operative banks.

The finance minister's announcement came in weeks after allegations of fraud at Mumbai-based Punjab and Maharashtra Co-operative Bank rocked India's banking industry, denting investor confidence in an already troubled sector.

Meanwhile, telecom stocks gained after Reliance Jio announced plans to charge customers for calls made through its network to other operators, a move analysts said could lead to higher industry prices and revenues.

Jio's rivals Bharti Airtel Ltd and Vodafone Idea Ltd ended up 5% and 6%, respectively. Shares in Grasim Industries Ltd, the top shareholder in Vodafone Idea, closed 3.9% firmer.

Indian markets closed lower on Thursday, led by a sharp drop in banking shares, while investors awaited a raft of second-quarter corporate earnings including that of Tata Consultancy Services Ltd (TCS) due later in the day.

Indian markets closed lower on Thursday, led by a sharp drop in banking shares, while investors awaited a raft of second-quarter corporate earnings including that of Tata Consultancy Services Ltd (TCS) due later in the day. Software services firm TCS, the second-largest Indian company by market value, is scheduled to report its September-quarter results later in the day, while its industry peer Infosys Ltd will announce results on Friday. The broader NSE Nifty ended 0.70% lower at 11,234.55, while the benchmark BSE Sensex closed down 0.78% at 37,880. All stocks in the Nifty bank index ended in the red, and the index closed 2.68% lower. Shares in Indiabulls Housing Finance Ltd dived 18.5% after hitting a near six-year low as the Reserve Bank of India (RBI) blocked its proposed merger with Lakshmi Vilas Bank. The central bank's move represented the latest in a series of negative headlines for India's banking industry, that is struggling with a mountain of bad debt. India's finance minister Nirmala Sitharaman said on Thursday the government would consider passing stricter laws to curb malpractices at co-operative banks. The finance minister's announcement came in weeks after allegations of fraud at Mumbai-based Punjab and Maharashtra Co-operative Bank rocked India's banking industry, denting investor confidence in an already troubled sector. Meanwhile, telecom stocks gained after Reliance Jio announced plans to charge customers for calls made through its network to other operators, a move analysts said could lead to higher industry prices and revenues. Jio's rivals Bharti Airtel Ltd and Vodafone Idea Ltd ended up 5% and 6%, respectively. Shares in Grasim Industries Ltd, the top shareholder in Vodafone Idea, closed 3.9% firmer.

Sensex, Nifty end lower as banks slump; earnings in focus

Gold&nbsp;prices scaled&nbsp;one-week&nbsp;highs on Thursday, holding ground above $1,500 an ounce, as investors flocked to the safety of bullion following contradictory reports about <a href="https://www.wionews.com/world/us-china-trade-talks-to-resume-thursday-white-house-254346">US-China&nbsp;trade&nbsp;talks.</a>

Spot&nbsp;gold&nbsp;gained 0.1 per cent&nbsp;to $1,506.78 per ounce as of 0724 GMT, having notched a&nbsp;peak&nbsp;of $1,516.77 early in the session, its highest since October&nbsp;3. US&nbsp;gold&nbsp;futures dropped 0.1 per cent&nbsp;to $1,511.80.

"Gold&nbsp;is holding strong above $1,500 because of healthy inflows by ETFs (exchange-traded funds). If the US-China&nbsp;trade&nbsp;talks fail once again,&nbsp;gold&nbsp;prices could rally," said Jigar Trivedi, a commodities analyst at Mumbai-based Anand Rathi Shares &amp; Stock Brokers.

"Prices are not falling, because of strong investment demand and fundamental factors. $1,490 is the current support, and if prices drop below this, there could be an extended fall till $1,460."

A report from the New York Times said Washington would soon issue licences permitting some US&nbsp;firms to supply non-sensitive goods to China's Huawei Technologies.

A report by Bloomberg, saying the White House was looking at rolling out a currency pact with China, raised hopes of a partial deal and helped to lift risk assets.

The South China Morning Post had reported earlier in the session that a Chinese delegation was planning to leave Washington after just a day of minister-level meetings, instead of Friday as planned, sending Asian stocks toppling. However, risk sentiment has recovered slightly since.

Gold&nbsp;is often used by investors as a hedge against political and financial uncertainty.

"Gold&nbsp;ETF holdings are at three-year highs and lots of central banks are also buying, which is keeping prices supported," said Argonaut Securities analyst Helen Lau, adding that some volatility could be expected in the&nbsp;gold&nbsp;market.

Indicative of investor interest, holdings of the SPDR&nbsp;Gold&nbsp;Trust, the world's largest&nbsp;gold-backed exchange-traded fund, have been at their highest since November 2016.

Spot&nbsp;gold&nbsp;looks neutral in a range of $1,488-$1,514 per ounce, and an escape could suggest a direction, Reuters technical analyst Wang Tao said.

Investors also sought further cues on the US&nbsp;Federal Reserve's trajectory on monetary easing later in the month.

"Global&nbsp;trade&nbsp;uncertainties along with subdued global growth will remain supportive towards safe-haven assets in the current term," Phillip Futures analyst Benjamin Lu said in a note.

Silver rose 0.1 per cent&nbsp;to $17.72 per ounce, palladium inched 0.2 per cent&nbsp;higher to $1,684.91 and platinum was little changed at $891.49 an ounce.

Gold prices scaled one-week highs on Thursday, holding ground above $1,500 an ounce, as investors flocked to the safety of bullion following contradictory reports about US-China trade talks.

Gold prices scaled one-week highs on Thursday, holding ground above $1,500 an ounce, as investors flocked to the safety of bullion following contradictory reports about US-China trade talks. Spot gold gained 0.1 per cent to $1,506.78 per ounce as of 0724 GMT, having notched a peak of $1,516.77 early in the session, its highest since October 3. US gold futures dropped 0.1 per cent to $1,511.80. "Gold is holding strong above $1,500 because of healthy inflows by ETFs (exchange-traded funds). If the US-China trade talks fail once again, gold prices could rally," said Jigar Trivedi, a commodities analyst at Mumbai-based Anand Rathi Shares & Stock Brokers. "Prices are not falling, because of strong investment demand and fundamental factors. $1,490 is the current support, and if prices drop below this, there could be an extended fall till $1,460." A report from the New York Times said Washington would soon issue licences permitting some US firms to supply non-sensitive goods to China's Huawei Technologies. A report by Bloomberg, saying the White House was looking at rolling out a currency pact with China, raised hopes of a partial deal and helped to lift risk assets. The South China Morning Post had reported earlier in the session that a Chinese delegation was planning to leave Washington after just a day of minister-level meetings, instead of Friday as planned, sending Asian stocks toppling. However, risk sentiment has recovered slightly since. Gold is often used by investors as a hedge against political and financial uncertainty. "Gold ETF holdings are at three-year highs and lots of central banks are also buying, which is keeping prices supported," said Argonaut Securities analyst Helen Lau, adding that some volatility could be expected in the gold market. Indicative of investor interest, holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, have been at their highest since November 2016. Spot gold looks neutral in a range of $1,488-$1,514 per ounce, and an escape could suggest a direction, Reuters technical analyst Wang Tao said. Investors also sought further cues on the US Federal Reserve's trajectory on monetary easing later in the month. "Global trade uncertainties along with subdued global growth will remain supportive towards safe-haven assets in the current term," Phillip Futures analyst Benjamin Lu said in a note. Silver rose 0.1 per cent to $17.72 per ounce, palladium inched 0.2 per cent higher to $1,684.91 and platinum was little changed at $891.49 an ounce.

Gold rises to one-week peak amid trade anxiety

Most&nbsp;Asian&nbsp;currencies&nbsp;firmed on Thursday, as a volatile&nbsp;dollar&nbsp;weakened broadly on&nbsp;mixed&nbsp;signals&nbsp;over the state of<a href="https://www.wionews.com/world/us-china-trade-talks-to-resume-thursday-white-house-254346">&nbsp;trade&nbsp;talks between Washington and Beijing.</a>

Dampened sentiment following suggestions that the Chinese delegation might cut the ministerial-level talks short and leave Washington on Thursday were offset by a Bloomberg report that the United States is weighing a currency pact with China as part of a partial deal.

Traders also took note of a New York Times report that Washington will issue licenses allowing some US&nbsp;companies to supply non-sensitive goods to China's Huawei, as the&nbsp;dollar&nbsp;eased against a basket of major&nbsp;currencies.

"News of Huawei and the currency pact released together with the strong (yuan) fix, underscores the fact that PBoC (People's Bank Of China) is (ready) ...to give a strong guidance for the CNY as a potential pact with the US&nbsp;could be at hand," a Maybank note said.

US&nbsp;Federal Reserve meeting minutes released on Wednesday were largely in line with expectations and had little market impact.

The yuan&nbsp;strengthened 0.3 per cent&nbsp;and the Singapore&nbsp;dollar&nbsp;firmed 0.2per cent.

The Philippine peso&nbsp;firmed marginally. Data showed that August exports rose 0.6 per cent, while imports slumped 11.8 per cent, narrowing the country's August deficit.

Taiwan's financial markets were closed for a holiday.

The Korean won&nbsp;bucked the trend to slip 0.3 per cent&nbsp;ahead of talks with Japan on Friday over tighter export controls from Tokyo. The talks are part of a dispute settlement process through the World&nbsp;Trade&nbsp;Organisation.

The won is the worst performer among&nbsp;Asian&nbsp;currencies&nbsp;this year.

The prolonged Sino-US&nbsp;trade&nbsp;conflict and the dispute with Japan has dealt a huge blow to South Korea's&nbsp;trade-reliant economy. In September, exports slumped 11.7 per cent, shrinking for the 10th consecutive month.

Most Asian currencies firmed on Thursday, as a volatile dollar weakened broadly on mixed signals over the state of trade talks between Washington and Beijing. Dampened sentiment following suggestions that the Chinese delegation might cut the ministerial-level talks short and leave Washington on Thursday were offset by a Bloomberg report that the United States is weighing a currency pact with China as part of a partial deal.

Most Asian currencies firmed on Thursday, as a volatile dollar weakened broadly on mixed signals over the state of trade talks between Washington and Beijing. Dampened sentiment following suggestions that the Chinese delegation might cut the ministerial-level talks short and leave Washington on Thursday were offset by a Bloomberg report that the United States is weighing a currency pact with China as part of a partial deal. Traders also took note of a New York Times report that Washington will issue licenses allowing some US companies to supply non-sensitive goods to China's Huawei, as the dollar eased against a basket of major currencies. "News of Huawei and the currency pact released together with the strong (yuan) fix, underscores the fact that PBoC (People's Bank Of China) is (ready) ...to give a strong guidance for the CNY as a potential pact with the US could be at hand," a Maybank note said. US Federal Reserve meeting minutes released on Wednesday were largely in line with expectations and had little market impact. The yuan strengthened 0.3 per cent and the Singapore dollar firmed 0.2per cent. The Philippine peso firmed marginally. Data showed that August exports rose 0.6 per cent, while imports slumped 11.8 per cent, narrowing the country's August deficit. Taiwan's financial markets were closed for a holiday. The Korean won bucked the trend to slip 0.3 per cent ahead of talks with Japan on Friday over tighter export controls from Tokyo. The talks are part of a dispute settlement process through the World Trade Organisation. The won is the worst performer among Asian currencies this year. The prolonged Sino-US trade conflict and the dispute with Japan has dealt a huge blow to South Korea's trade-reliant economy. In September, exports slumped 11.7 per cent, shrinking for the 10th consecutive month.

Most Asian currencies rise as dollar slips; trade signals mixed

India slipped ten&nbsp;places to rank at 68th spot on the&nbsp;<a href="https://www.wionews.com/opinions/can-india-realistically-become-us-5-trillion-economy-236846">Global Competitiveness Index</a>(GCI)&nbsp;while Singapore became the world's most competitive economy pushing the US to the second rank.

Launched in 1979, the GCI&nbsp;maps the competitiveness landscape of 141 economies through 103 indicators such as inflation, digital skills, life expectancy and&nbsp;trade tariffs.

India, which was ranked 58th in the annual Global Competitiveness Index compiled by Geneva-based World Economic Forum (WEF), is among the worst-performing BRICS nations along with Brazil which ranked even lower than India at 71st this year.

China was ranked&nbsp;at 28th spot&nbsp;same as last year&nbsp;but took the lead in terms of competitiveness among the BRICS economies.

Meanwhile, Singapore replaced the US as the world's most competitive economy. It scored for its superior public sector, labour force, diversity and infrastructure.

Hong Kong, Netherlands and Switzerland followed at third, fourth and fifth place&nbsp;respectively.

In the index, India was&nbsp;followed by some of its neighbours including Sri Lanka at 84th place, Bangladesh at 105th, Nepal at 108th and Pakistan at 110th place.

Here are the 10 most competitiveness economies of the world.

1. Singapore

2. United States

3. Hong Kong

4. Netherlands

5. Switzerland

6. Japan

7. Germany

8. Sweden

9. United Kingdom

10. Denmark

The report cautioned that the constantly changing geopolitical backdrop and escalating trade tensions have increased uncertainty in the global economy&nbsp;which could lead to an economic slowdown.

Watch: Cautious optimism about Indian economy

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/wion-wallet-cautious-optimism-about-indian-economy-254427/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The WEF reminded policymakers of the necessity to take a "holistic approach"&nbsp;on&nbsp;planning, focus on quality-centred development, and further balance the relationship among short-term factors, quarterly reports and electoral cycles.

"The international trading system is [not] perfect, it needs to be improved. There are some issues in the international trading system, but this rule-based system is the way to go. Increasing tariff is not helping at all. And yes, it's bad, this kind of protectionism is bad. It's the uncertainty that this tension creates that is affecting the business sentiment and could actually accelerate the downturn, that is for the global economy, there seems to be a downturn coming," said Thierry Geiger, head of analytics and quantitative research on&nbsp;global&nbsp;competitiveness&nbsp;and risks.

The report further stressed the importance of openness, with experts urging the importance of greater investment in education, skills training and a more balanced and inclusive development model that will contribute to the healthy development of the global economy.

(With inputs from agencies)

India slipped ten places to rank at 68th spot on the Global Competitiveness Index(GCI) while Singapore became the world's most competitive economy pushing the US to the second rank.

India slipped ten places to rank at 68th spot on the Global Competitiveness Index(GCI) while Singapore became the world's most competitive economy pushing the US to the second rank. Launched in 1979, the GCI maps the competitiveness landscape of 141 economies through 103 indicators such as inflation, digital skills, life expectancy and trade tariffs. India, which was ranked 58th in the annual Global Competitiveness Index compiled by Geneva-based World Economic Forum (WEF), is among the worst-performing BRICS nations along with Brazil which ranked even lower than India at 71st this year. China was ranked at 28th spot same as last year but took the lead in terms of competitiveness among the BRICS economies. Meanwhile, Singapore replaced the US as the world's most competitive economy. It scored for its superior public sector, labour force, diversity and infrastructure. Hong Kong, Netherlands and Switzerland followed at third, fourth and fifth place respectively. In the index, India was followed by some of its neighbours including Sri Lanka at 84th place, Bangladesh at 105th, Nepal at 108th and Pakistan at 110th place. Here are the 10 most competitiveness economies of the world. 1. Singapore 2. United States 3. Hong Kong 4. Netherlands 5. Switzerland 6. Japan 7. Germany 8. Sweden 9. United Kingdom 10. Denmark The report cautioned that the constantly changing geopolitical backdrop and escalating trade tensions have increased uncertainty in the global economy which could lead to an economic slowdown. Watch: Cautious optimism about Indian economy × The WEF reminded policymakers of the necessity to take a "holistic approach" on planning, focus on quality-centred development, and further balance the relationship among short-term factors, quarterly reports and electoral cycles. "The international trading system is [not] perfect, it needs to be improved. There are some issues in the international trading system, but this rule-based system is the way to go. Increasing tariff is not helping at all. And yes, it's bad, this kind of protectionism is bad. It's the uncertainty that this tension creates that is affecting the business sentiment and could actually accelerate the downturn, that is for the global economy, there seems to be a downturn coming," said Thierry Geiger, head of analytics and quantitative research on global competitiveness and risks. The report further stressed the importance of openness, with experts urging the importance of greater investment in education, skills training and a more balanced and inclusive development model that will contribute to the healthy development of the global economy. (With inputs from agencies)

Global Competitiveness Index: India slips 10 places to 68th; Singapore replaces US on top

Indian shares were largely unchanged on Wednesday, as global equities took a beating after US-China standoff broadened and as investors kept a cautious stance ahead of September-quarter corporate results.

Broader Asian peers fell the most in a week as the United States and China's broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.

High-level talks between the world's top two economies on trade are due to resume on Thursday. The negotiations, which have been the global markets' most important catalyst for months, have weighed on investor sentiment.

The broader NSE Nifty was down 0.16% at 11,108.40, as of 0440 GMT, while the benchmark BSE Sensex was 0.17% weaker at 34,467.77.

Company earnings for the year ending March 2020 are expected to receive a boost after the Indian government moved to slash corporate taxes last month to 22% from 30%.

"People are waiting for the start of the Q2 results," said Vinod Nair, head of research at Geojit Financial in Kochi, referring to the fiscal second quarter ended Sept. 30.

"Because of the tax cuts, the prospects for earnings growth look very good," he said.

Financial results from Tata Consultancy Services Ltd are expected on Thursday, marking the start of the quarterly results season.

The biggest laggards in the NSE Nifty were Yes Bank Ltd and Titan Co Ltd.

Yes Bank's shares, which have been volatile over the past few weeks amid stake sales by the lender's promoters and concerns over its exposure to troubled real estate firms, dropped 7.9%.

Titan dived 5.2% after the watch and jewellery maker flagged lean sales and said its managing director of 17 years would step down.

Ultratech Cement Ltd was the top gainer in the NSE Nifty with a 2.5% rise.

Indian shares were largely unchanged on Wednesday, as global equities took a beating after US-China standoff broadened and as investors kept a cautious stance ahead of September-quarter corporate results.

Indian shares were largely unchanged on Wednesday, as global equities took a beating after US-China standoff broadened and as investors kept a cautious stance ahead of September-quarter corporate results. Broader Asian peers fell the most in a week as the United States and China's broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth. High-level talks between the world's top two economies on trade are due to resume on Thursday. The negotiations, which have been the global markets' most important catalyst for months, have weighed on investor sentiment. The broader NSE Nifty was down 0.16% at 11,108.40, as of 0440 GMT, while the benchmark BSE Sensex was 0.17% weaker at 34,467.77. Company earnings for the year ending March 2020 are expected to receive a boost after the Indian government moved to slash corporate taxes last month to 22% from 30%. "People are waiting for the start of the Q2 results," said Vinod Nair, head of research at Geojit Financial in Kochi, referring to the fiscal second quarter ended Sept. 30. "Because of the tax cuts, the prospects for earnings growth look very good," he said. Financial results from Tata Consultancy Services Ltd are expected on Thursday, marking the start of the quarterly results season. The biggest laggards in the NSE Nifty were Yes Bank Ltd and Titan Co Ltd. Yes Bank's shares, which have been volatile over the past few weeks amid stake sales by the lender's promoters and concerns over its exposure to troubled real estate firms, dropped 7.9%. Titan dived 5.2% after the watch and jewellery maker flagged lean sales and said its managing director of 17 years would step down. Ultratech Cement Ltd was the top gainer in the NSE Nifty with a 2.5% rise.

Sensex, Nifty flat as investors eye second-quarter results; Yes Bank, Titan drop

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved to release an additional installment of Dearness Allowance to Central Government employees and Dearness Relief to pensioners with effect from July 1, 2019 representing an increase of five per cent over the existing rate of 12 per cent of the basic pay or pension, to compensate for price rise.

It will benefit about 49.93 lakh central government employees and 65.26 lakh pensioners and represents an increase of 5 per cent over the existing rate of 12 per cent of the basic pay/pension to compensate for price rise.&nbsp;

The impact of the increase in Dearness Allowance and Dearness Relief would be Rs 15909.35 crore per annum and Rs 10606.20 crore in this financial year.&nbsp;

An official release said the increase is in accordance with the accepted formula, which is based on the recommendations of the Seventh Central Pay Commission.&nbsp;

Dear Allowance and Dearness Relief is paid to central government employees and pensioners to adjust the cost of living and to protect their basic pay/pension from erosion in the real value. Dear Allowance and Dearness Relief is revised twice a year from January 1 and July 1.&nbsp;

(With inputs from ANI)&nbsp;

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved to release an additional installment of Dearness Allowance to Central Government employees and Dearness Relief to pensioners with effect from July 1, 2019 representing an increase of five per cent over the existing rate of 12 per cent of the basic pay or pension, to compensate for price rise.

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved to release an additional installment of Dearness Allowance to Central Government employees and Dearness Relief to pensioners with effect from July 1, 2019 representing an increase of five per cent over the existing rate of 12 per cent of the basic pay or pension, to compensate for price rise. It will benefit about 49.93 lakh central government employees and 65.26 lakh pensioners and represents an increase of 5 per cent over the existing rate of 12 per cent of the basic pay/pension to compensate for price rise. The impact of the increase in Dearness Allowance and Dearness Relief would be Rs 15909.35 crore per annum and Rs 10606.20 crore in this financial year. An official release said the increase is in accordance with the accepted formula, which is based on the recommendations of the Seventh Central Pay Commission. Dear Allowance and Dearness Relief is paid to central government employees and pensioners to adjust the cost of living and to protect their basic pay/pension from erosion in the real value. Dear Allowance and Dearness Relief is revised twice a year from January 1 and July 1. (With inputs from ANI)

Cabinet approves 5 per cent additional Dearness Allowance for 50 lakh government employees

Equity benchmark indices reversed early losses on Wednesday and surged upwards, led by banking and financial stocks ahead of the Q2 corporate earnings results.

At the closing bell, the BSE S&amp;P Sensex was up by 646 points or 1.72 per cent at 38,178. The Nifty 50 wound up 187 points higher at 11,313.&nbsp;

At the National Stock Exchange, all sectoral indices were in the positive zone except for IT.

Led by cheerful market sentiment, Nifty bank edged higher by 3.6 per cent and financial service by 3 per cent. But Nifty IT slipped by 0.7 per cent.

Among stocks, Raymond jumped by over 10 per cent intraday after it's associate company signed an agreement to sell its property in Thane for Rs 700 crore.

Private lenders IndusInd Bank and ICICI Bank moved up by 5.5 per cent and 4.9 per cent respectively while State Bank of India gained by 5.1 per cent ahead of the festive season.

Bharti Infratel witnessed a gain of 5.3 per cent, Bharti Airtel by 5.2 per cent, UltraTech Cement by 4.9 per cent, Mahindra &amp; Mahindra by 4.3 per cent and Tata Steel by 4 per cent.

But Yes Bank was down by 5.1 per cent at Rs 43.30 per share after the lender denied media reports saying it is in talks with three technology companies, including software major Microsoft, for a strategic investment.

Hero Motocorp, Titan, Zee Entertainment, HCL Technologies and ITC too were in the red with a loss between 1.2 and 2.8 per cent.&nbsp;

Meanwhile, Asian markets were sharply lower as US-China trade frictions persisted even as officials from the two countries meet this week to work out a deal.&nbsp;

Japan's Nikkei slid by 0.6 per cent in its biggest decline over a week while Hong Kong shares fell by 0.8 per cent due to persistent worries about the often violent protest against China`s rule of the former British colony.

Equity benchmark indices reversed early losses on Wednesday and surged upwards, led by banking and financial stocks ahead of the Q2 corporate earnings results. At the closing bell, the BSE S&P Sensex was up by 646 points or 1.

Equity benchmark indices reversed early losses on Wednesday and surged upwards, led by banking and financial stocks ahead of the Q2 corporate earnings results. At the closing bell, the BSE S&P Sensex was up by 646 points or 1.72 per cent at 38,178. The Nifty 50 wound up 187 points higher at 11,313. At the National Stock Exchange, all sectoral indices were in the positive zone except for IT. Led by cheerful market sentiment, Nifty bank edged higher by 3.6 per cent and financial service by 3 per cent. But Nifty IT slipped by 0.7 per cent. Among stocks, Raymond jumped by over 10 per cent intraday after it's associate company signed an agreement to sell its property in Thane for Rs 700 crore. Private lenders IndusInd Bank and ICICI Bank moved up by 5.5 per cent and 4.9 per cent respectively while State Bank of India gained by 5.1 per cent ahead of the festive season. Bharti Infratel witnessed a gain of 5.3 per cent, Bharti Airtel by 5.2 per cent, UltraTech Cement by 4.9 per cent, Mahindra & Mahindra by 4.3 per cent and Tata Steel by 4 per cent. But Yes Bank was down by 5.1 per cent at Rs 43.30 per share after the lender denied media reports saying it is in talks with three technology companies, including software major Microsoft, for a strategic investment. Hero Motocorp, Titan, Zee Entertainment, HCL Technologies and ITC too were in the red with a loss between 1.2 and 2.8 per cent. Meanwhile, Asian markets were sharply lower as US-China trade frictions persisted even as officials from the two countries meet this week to work out a deal. Japan's Nikkei slid by 0.6 per cent in its biggest decline over a week while Hong Kong shares fell by 0.8 per cent due to persistent worries about the often violent protest against China`s rule of the former British colony.

Sensex closes 646 points higher as stocks resume fresh upward momentum

Governments will get more power to tax big multinationals like Google, Apple and Facebook doing business in their countries under a proposed overhaul of decades-old rules.

Big internet firms have pushed tax rules to the limit as they can book profit and park assets like trademarks and patents in low tax countries like Ireland wherever their customers are.

The drive for a global rule book has received new urgency as countries unilaterally adopt plans for a tax on digital companies over frustration with current rules.

This year more than 130 countries and territories agreed that a rewriting of tax rules largely going back to the 1920s was overdue and tasked the Paris-based Organisation for Economic Cooperation and Development (OECD) to come up with proposals.

"The current system is under stress and will not survive if we don't remove the tensions," OECD head of tax policy Pascal Saint-Amans told journalists. The OECD expects the first sign of whether there is broad political support behind their proposals next week when finance ministers from the Group of 20 economic powers discuss them at a meeting in Washington.

The overhaul would have an impact of a few percentage points of corporate income tax in many countries with no big losers apart from big international investment hubs, Saint-Amans said.

While that means countries like Ireland or offshore tax havens could suffer, countries with big consumer markets like the United States or France would benefit from the shake-up.

France adopted its own national tax on digital companies this year, sparking US&nbsp;threats of tariff on French wine and adding to global trade tensions.

Meanwhile, companies are facing increased uncertainty about their tax bills as countries challenge arrangements to pay tax in countries like Ireland rather than where their markets are.

Apple is locked in an EU tax dispute over profits booked in Ireland which could cost the iPhone maker $14 billion. Meanwhile, Google agreed last month to pay more than $1 billion to settle a tax case in France.

Amazon, which the European Union has told to pay about 250 million euros in back taxes to Luxembourg, said the OECD proposals were an "important step forward".

Tax&nbsp;revolution

The OECD proposals set a scope for the companies that would be covered by the new rules, define how much business they must do in a country to be taxable there and determine how much profit can be taxed there.

The aim is to give the government where the user or client of a company's product is located the right to tax a bigger share of the profit earned by a foreign company there.

Companies affected would be big multinational firms operating across borders with the OECD suggesting they should have revenue of over 750 million euros.

They would also have to have a "sustained and significant" interaction with customers in a country's market, regardless of whether they have a physical presence there or not.

Not only would big internet companies be covered, but also big consumer firms that sell retail products in a market through a distribution network, which they may or may not own.

Companies meeting those conditions would then be liable for taxes in a given country, according to a formula based on set percentages of profitability that remain to be negotiated.

A French Finance Ministry official said that the Washington meeting should give "the needed political steer in order to achieve an agreement on international taxation in 2020".

After Washington, broader negotiations will get underway with the aim to put an outline agreement to the 134 countries that have signed up for the reform in January.

The proposals issued on Wednesday run in parallel to the second track of reform also steered by the OECD that aims to come up with an internationally agreed minimum corporate tax rate companies cannot avoid.

Governments will get more power to tax big multinationals like Google, Apple and Facebook doing business in their countries under a proposed overhaul of decades-old rules.

Governments will get more power to tax big multinationals like Google, Apple and Facebook doing business in their countries under a proposed overhaul of decades-old rules. Big internet firms have pushed tax rules to the limit as they can book profit and park assets like trademarks and patents in low tax countries like Ireland wherever their customers are. The drive for a global rule book has received new urgency as countries unilaterally adopt plans for a tax on digital companies over frustration with current rules. This year more than 130 countries and territories agreed that a rewriting of tax rules largely going back to the 1920s was overdue and tasked the Paris-based Organisation for Economic Cooperation and Development (OECD) to come up with proposals. "The current system is under stress and will not survive if we don't remove the tensions," OECD head of tax policy Pascal Saint-Amans told journalists. The OECD expects the first sign of whether there is broad political support behind their proposals next week when finance ministers from the Group of 20 economic powers discuss them at a meeting in Washington. The overhaul would have an impact of a few percentage points of corporate income tax in many countries with no big losers apart from big international investment hubs, Saint-Amans said. While that means countries like Ireland or offshore tax havens could suffer, countries with big consumer markets like the United States or France would benefit from the shake-up. France adopted its own national tax on digital companies this year, sparking US threats of tariff on French wine and adding to global trade tensions. Meanwhile, companies are facing increased uncertainty about their tax bills as countries challenge arrangements to pay tax in countries like Ireland rather than where their markets are. Apple is locked in an EU tax dispute over profits booked in Ireland which could cost the iPhone maker $14 billion. Meanwhile, Google agreed last month to pay more than $1 billion to settle a tax case in France. Amazon, which the European Union has told to pay about 250 million euros in back taxes to Luxembourg, said the OECD proposals were an "important step forward". Tax revolution The OECD proposals set a scope for the companies that would be covered by the new rules, define how much business they must do in a country to be taxable there and determine how much profit can be taxed there. The aim is to give the government where the user or client of a company's product is located the right to tax a bigger share of the profit earned by a foreign company there. Companies affected would be big multinational firms operating across borders with the OECD suggesting they should have revenue of over 750 million euros. They would also have to have a "sustained and significant" interaction with customers in a country's market, regardless of whether they have a physical presence there or not. Not only would big internet companies be covered, but also big consumer firms that sell retail products in a market through a distribution network, which they may or may not own. Companies meeting those conditions would then be liable for taxes in a given country, according to a formula based on set percentages of profitability that remain to be negotiated. A French Finance Ministry official said that the Washington meeting should give "the needed political steer in order to achieve an agreement on international taxation in 2020". After Washington, broader negotiations will get underway with the aim to put an outline agreement to the 134 countries that have signed up for the reform in January. The proposals issued on Wednesday run in parallel to the second track of reform also steered by the OECD that aims to come up with an internationally agreed minimum corporate tax rate companies cannot avoid.

Multinationals face heftier tax hit in biggest overhaul for decades

Currencies linked with greater investor risk appetite, such as the Australian dollar, jumped on Wednesday after Bloomberg reported China remained open to signing a partial trade deal with the United States despite being put on the tech blacklist.

The <a href="https://www.wionews.com/world/us-expands-blacklist-to-include-chinas-top-ai-startups-ahead-of-trade-talks-254672">US&nbsp;government has widened its trade blacklist </a>to include some of China's top artificial intelligence start-ups, punishing Beijing for its treatment of mostly Muslim minorities and ratcheting up tensions ahead of high-level trade talks in Washington this week.

The Australian dollar, a global risk barometer, was last up 0.3 per cent&nbsp;at $0.6744 and the New Zealand dollar rose 0.4 per cent&nbsp;to $0.6319.

China's yuan was up 0.5 per cent&nbsp;at 7.1308 against the dollar in offshore trading.

The euro was up 0.3 per cent&nbsp;at $1.09785. The index that tracks the dollar against a basket of six other currencies was down 0.1 per cent&nbsp;at 99.007.

"Risk is looking reasonably better, but anyone who is trading the trade war knows that the impact of good news will be fading," said Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets.

"I think it pays off to be sceptical in terms of expectations of something exceptional happening during the<a href="https://www.wionews.com/world/us-china-trade-talks-to-resume-thursday-white-house-254346"> US-China trade talks this week,"</a> Stretch said.

The biggest move in the foreign exchange market, however, was an early morning plunge in the Swedish crown, both against the euro and the dollar, on concerns the <a href="https://www.wionews.com/world/persecution-of-the-uyghurs-us-blacklists-28-chinese-companies-over-uighur-abuses-in-xinjiang-254355">US-China conflict over trade and foreign policy </a>was nowhere near a resolution and was increasingly damaging the global economy.

Sweden's open economy makes the crown vulnerable to global growth dynamics and therefore to the trade dispute between the world's two biggest economies, which has hurt growth in the two years since US&nbsp;President Donald Trump ignited the trade war.

The Swedish crown was last steady, after falling earlier to a 10-year low of 10.9230 against the euro and a 17-year low of 9.9639 against the dollar.

"It's a remarkable move," said Stephen Gallo, European head of FX strategy at BMO Capital Markets. "You cannot get a clearer trend here. The fall reflects deepening worsening global outlook."

Gallo expects the crown to fall to 11 against the common currency, close to levels not seen since the financial crisis. Sweden's competitiveness as an exporter led to the crown's decline, he said.

The euro was a sell against the dollar, though, since it was likely to maintain its status as a safe-haven currency and US&nbsp;investors were likely to keep their dollars at home, he added.

Chinese Vice Premier Liu He is due to arrive this week in Washington for trade talks. He is expected to meet US&nbsp;Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday.

Currencies linked with greater investor risk appetite, such as the Australian dollar, jumped on Wednesday after Bloomberg reported China remained open to signing a partial trade deal with the United States despite being put on the tech blacklist.

Currencies linked with greater investor risk appetite, such as the Australian dollar, jumped on Wednesday after Bloomberg reported China remained open to signing a partial trade deal with the United States despite being put on the tech blacklist. The US government has widened its trade blacklist to include some of China's top artificial intelligence start-ups, punishing Beijing for its treatment of mostly Muslim minorities and ratcheting up tensions ahead of high-level trade talks in Washington this week. The Australian dollar, a global risk barometer, was last up 0.3 per cent at $0.6744 and the New Zealand dollar rose 0.4 per cent to $0.6319. China's yuan was up 0.5 per cent at 7.1308 against the dollar in offshore trading. The euro was up 0.3 per cent at $1.09785. The index that tracks the dollar against a basket of six other currencies was down 0.1 per cent at 99.007. "Risk is looking reasonably better, but anyone who is trading the trade war knows that the impact of good news will be fading," said Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets. "I think it pays off to be sceptical in terms of expectations of something exceptional happening during the US-China trade talks this week," Stretch said. The biggest move in the foreign exchange market, however, was an early morning plunge in the Swedish crown, both against the euro and the dollar, on concerns the US-China conflict over trade and foreign policy was nowhere near a resolution and was increasingly damaging the global economy. Sweden's open economy makes the crown vulnerable to global growth dynamics and therefore to the trade dispute between the world's two biggest economies, which has hurt growth in the two years since US President Donald Trump ignited the trade war. The Swedish crown was last steady, after falling earlier to a 10-year low of 10.9230 against the euro and a 17-year low of 9.9639 against the dollar. "It's a remarkable move," said Stephen Gallo, European head of FX strategy at BMO Capital Markets. "You cannot get a clearer trend here. The fall reflects deepening worsening global outlook." Gallo expects the crown to fall to 11 against the common currency, close to levels not seen since the financial crisis. Sweden's competitiveness as an exporter led to the crown's decline, he said. The euro was a sell against the dollar, though, since it was likely to maintain its status as a safe-haven currency and US investors were likely to keep their dollars at home, he added. Chinese Vice Premier Liu He is due to arrive this week in Washington for trade talks. He is expected to meet US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday.

Australian dollar rises, euro up after China says open for partial trade deal