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

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

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

India names 27 sites in Arunachal Pradesh

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

How many soldiers operate one S-400 battery?

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

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

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

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

Technology transfer deal boosts India's defence manufacturing ambitions

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

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

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

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

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

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

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

RSS says Gen Z protests reflect genuine distress

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

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

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

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

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

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

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

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

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

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

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

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

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

South Korean multinational automobile giant Hyundai launched its compact SUV 'Venue' for the Indian market today.&nbsp;

India’s first fully connected SUV, Venue, will be available at the starting price of Rs 6,50,000 and comes in a refreshing design and a host of attractive features which are stated below.

Attractive design

The Venue comes with R16 diamond cut alloy wheels, LED tail lamps with crystal effect, shark fin antenna, silver skid plates, chrome finish outside door handles and projector fog lamps, among other design features.&nbsp;

It will be available in 4 major trims with multiple powertrain options in 7 exciting exterior colours including 3 new colours – denim blue, lava orange and deep forest and 3 dual tone options.

Powerful drive

It is the first Hyundai product with in-house developed 7-Speed advanced Dual Clutch Transmission (DCT) technology, in addition to the proven 6 MT and 5 MT transmissions.&nbsp;

The Venue will be powered with the debut of Kappa 1.0 Turbo GDi Petrol Engine along with well- proven 1.2 l Kappa Petrol and 1.4 l Diesel Engine.

Smooth handling

The vehicle comes equipped with a balanced suspension system and confident steering. The front suspension is mounted with McPherson Strut with coil spring that gives stability at rough road drives and reduces body roll giving improved cornering performance. The rear suspension uses Coupled Torsion Beam Axle with coil spring and rear shock absorber that minimizes shock rebound providing a comfortable and stable ride.&nbsp;

Smart safety features

The compact SUV comes loaded with standard safety features such as dual front airbags, seatbelt reminder, rear parking sensors, speed sensing auto door lock and crash sensing auto door unlock.&nbsp;

It also comes packed with hill assist control, electronic stability control, vehicle stability management, auto headlamps with escort function, rear camera with rear parking sensors and power window with auto up/down among other safety features.&nbsp;

Blue Link - Hyundai’s global technology&nbsp;

The technology is introduced in the Indian market with 33 features out of which 10 are India specific features for most practical and holistic connectivity with safety, security, geographic information services, vehicle management, artificial intelligence, alert services and location-based services.&nbsp;

The Blue Link services will be complimentary for the first 3 years and post which customers can further renew the services. For all Hyundai VENUE Customers as a special service - Blue Care home visit will be scheduled on the 15th Day of the purchase of the vehicle.

Hyundai Venue: First-in-segment features

&nbsp;- Fully connected SUV

- Wireless phone charger

- Air purifier

- Wheel air curtains

- Arkamys sound

- Eco-coating

Hyundai Venue is priced as following:

<table border="1" cellpadding="1" cellspacing="1" style="width: 672px;">
	<tbody>
		<tr>
			<td style="width: 206px;">Introductory price</td>
			<td style="width: 96px;">E</td>
			<td style="width: 99px;">S</td>
			<td style="width: 108px;">SX</td>
			<td style="width: 139px;">SX(O)</td>
		</tr>
		<tr>
			<td style="width: 206px;">1.2 KAPPA PETROL 5MT</td>
			<td style="width: 96px;">Rs 6,50,000</td>
			<td style="width: 99px;">Rs 7,20,000</td>
			<td style="width: 108px;">&nbsp;</td>
			<td style="width: 139px;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 206px;">1.O TURBO PETROL 6MT</td>
			<td style="width: 96px;">&nbsp;</td>
			<td style="width: 99px;">Rs 8,21,000</td>
			<td style="width: 108px;">Rs 9,54,000</td>
			<td style="width: 139px;">Rs 10,60,000</td>
		</tr>
		<tr>
			<td style="width: 206px;">1.O TURBO PETROL 7DCT</td>
			<td style="width: 96px;">&nbsp;</td>
			<td style="width: 99px;">Rs 9,35,000</td>
			<td style="width: 108px;">&nbsp;</td>
			<td style="width: 139px;">Rs 11,10,500 (SX+)</td>
		</tr>
		<tr>
			<td style="width: 206px;">1.4 U2 DIESEL 6MT</td>
			<td style="width: 96px;">Rs 7,75,000</td>
			<td style="width: 99px;">Rs 8,45,000</td>
			<td style="width: 108px;">Rs 9,78,000</td>
			<td style="width: 139px;">Rs 10,84,000</td>
		</tr>
	</tbody>
</table>

&nbsp;

South Korean multinational automobile giant Hyundai launched its compact SUV 'Venue' for the Indian market today. India’s first fully connected SUV, Venue, will be available at the starting price of Rs 6,50,000 and comes in a refreshing design and a host of attractive features which are stated below.

South Korean multinational automobile giant Hyundai launched its compact SUV 'Venue' for the Indian market today. India’s first fully connected SUV, Venue, will be available at the starting price of Rs 6,50,000 and comes in a refreshing design and a host of attractive features which are stated below. Attractive design The Venue comes with R16 diamond cut alloy wheels, LED tail lamps with crystal effect, shark fin antenna, silver skid plates, chrome finish outside door handles and projector fog lamps, among other design features. It will be available in 4 major trims with multiple powertrain options in 7 exciting exterior colours including 3 new colours – denim blue, lava orange and deep forest and 3 dual tone options. Powerful drive It is the first Hyundai product with in-house developed 7-Speed advanced Dual Clutch Transmission (DCT) technology, in addition to the proven 6 MT and 5 MT transmissions. The Venue will be powered with the debut of Kappa 1.0 Turbo GDi Petrol Engine along with well- proven 1.2 l Kappa Petrol and 1.4 l Diesel Engine. Smooth handling The vehicle comes equipped with a balanced suspension system and confident steering. The front suspension is mounted with McPherson Strut with coil spring that gives stability at rough road drives and reduces body roll giving improved cornering performance. The rear suspension uses Coupled Torsion Beam Axle with coil spring and rear shock absorber that minimizes shock rebound providing a comfortable and stable ride. Smart safety features The compact SUV comes loaded with standard safety features such as dual front airbags, seatbelt reminder, rear parking sensors, speed sensing auto door lock and crash sensing auto door unlock. It also comes packed with hill assist control, electronic stability control, vehicle stability management, auto headlamps with escort function, rear camera with rear parking sensors and power window with auto up/down among other safety features. Blue Link - Hyundai’s global technology The technology is introduced in the Indian market with 33 features out of which 10 are India specific features for most practical and holistic connectivity with safety, security, geographic information services, vehicle management, artificial intelligence, alert services and location-based services. The Blue Link services will be complimentary for the first 3 years and post which customers can further renew the services. For all Hyundai VENUE Customers as a special service - Blue Care home visit will be scheduled on the 15th Day of the purchase of the vehicle. Hyundai Venue: First-in-segment features - Fully connected SUV - Wireless phone charger - Air purifier - Wheel air curtains - Arkamys sound - Eco-coating Hyundai Venue is priced as following: Introductory price E S SX SX(O) 1.2 KAPPA PETROL 5MT Rs 6,50,000 Rs 7,20,000 1.O TURBO PETROL 6MT Rs 8,21,000 Rs 9,54,000 Rs 10,60,000 1.O TURBO PETROL 7DCT Rs 9,35,000 Rs 11,10,500 (SX+) 1.4 U2 DIESEL 6MT Rs 7,75,000 Rs 8,45,000 Rs 9,78,000 Rs 10,84,000

Hyundai launches compact SUV 'Venue' in India starting at Rs 6,50,000 

In what could spell further embarrassment for social media giant Facebook, a massive database containing the contact information of millions of Instagram influencers, celebrities and brand accounts has been found online. Reports suggest, as many as 49 million accounts have been compromised.&nbsp;

The database was left exposed without a password online, allowing anyone to access it.

According to reports, each record contained public data scraped from influencer Instagram accounts, including their bio, profile picture, the number of followers they have, if they’re verified and their location by city and country.

The database also contained their private contact information, such as the Instagram account owner’s email address and phone number.

According to Facebook, scraping data of any kind is prohibited on Instagram, but it's still unclear how the data was procured or how it may have been used. &nbsp;

As Facebook works to emphasize privacy, it will have to address Instagram's vulnerabilities as well.

This discovery comes just after Mark Zuckerberg-led Facebook has been heavily criticised by the European leaders.&nbsp;

Just like Friday, the European Commission - which is the independent executive arm of the European Union - rebuked tech giants Google, Facebook and Twitter for not doing enough to tackle fake news.

<a href="https://www.wionews.com/world/facebook-says-it-stored-millions-of-unencrypted-instagram-passwords-211684">Just last month, Facebook released a blog post</a> wherein it said that "millions" of Instagram users had their passwords stored in unencrypted form on internal servers, Facebook said Thursday, raising its original estimate of tens of thousands.

"We discovered additional logs of Instagram passwords being stored in a readable format. We now estimate that this issue impacted millions of Instagram users," Facebook said in a blog post.

"We will be notifying these users as we did the others. Our investigation has determined that these stored passwords were not internally abused or improperly accessed," the social network said.

Facebook, Instagram's parent company, revealed last month that the unencrypted passwords of hundreds of millions of users had been stored, putting the number of Instagram users affected in the tens of thousands, news agency AFP reported.&nbsp;

In what could spell further embarrassment for social media giant Facebook, a massive database containing the contact information of millions of Instagram influencers, celebrities and brand accounts has been found online.

In what could spell further embarrassment for social media giant Facebook, a massive database containing the contact information of millions of Instagram influencers, celebrities and brand accounts has been found online. Reports suggest, as many as 49 million accounts have been compromised. The database was left exposed without a password online, allowing anyone to access it. According to reports, each record contained public data scraped from influencer Instagram accounts, including their bio, profile picture, the number of followers they have, if they’re verified and their location by city and country. The database also contained their private contact information, such as the Instagram account owner’s email address and phone number. According to Facebook, scraping data of any kind is prohibited on Instagram, but it's still unclear how the data was procured or how it may have been used. As Facebook works to emphasize privacy, it will have to address Instagram's vulnerabilities as well. This discovery comes just after Mark Zuckerberg-led Facebook has been heavily criticised by the European leaders. Just like Friday, the European Commission - which is the independent executive arm of the European Union - rebuked tech giants Google, Facebook and Twitter for not doing enough to tackle fake news. Just last month, Facebook released a blog post wherein it said that "millions" of Instagram users had their passwords stored in unencrypted form on internal servers, Facebook said Thursday, raising its original estimate of tens of thousands. "We discovered additional logs of Instagram passwords being stored in a readable format. We now estimate that this issue impacted millions of Instagram users," Facebook said in a blog post. "We will be notifying these users as we did the others. Our investigation has determined that these stored passwords were not internally abused or improperly accessed," the social network said. Facebook, Instagram's parent company, revealed last month that the unencrypted passwords of hundreds of millions of users had been stored, putting the number of Instagram users affected in the tens of thousands, news agency AFP reported.

Instagram in trouble as nearly 50 million users' data gets leaked online

Benchmark indices took U-turn from <a href="https://www.wionews.com/business-economy/stock-markets-hit-record-opening-high-sensex-crosses-39500-mark-for-first-time-220279">record high levels touched during early trade on Tuesday</a>, with the BSE Sensex tripping nearly 383 points and the NSE Nifty shedding over 119 points as investors hurried up to book profits.

An intense selling was seen, barring initial hours, across sectors after market participants sensed that exit polls euphoria over BJP's likely win in the general election has already been factored in appropriately.&nbsp;

After hitting an intra-day record high of 39,571.73, the 30-share index ended 382.87 points, or 0.97 per cent, lower at 38,969.80. The gauge hit the day's low of 38,884.85. 
In a similar movement, the broader NSE Nifty plunged 119.15 points, or 1.01 per cent, to 11,709.10.

Tata Motors was the biggest loser in the Sensex pack, dipping 7.05 per cent, a day after the company posted a 49 per cent decline in March quarter profit.

Maruti, IndusInd Bank, M&amp;M, Bharti Airtel, SBI, PowerGrid, Hero MotoCorp, Tata Steel, ICICI Bank, Infosys, Yes Bank and TCS too fell up to 3.25 per cent.

On the other hand, RIL, HUL and Bajaj Finance ended in the green, rising up to 1.08 per cent.

The broader BSE midcap and smallcap indices ended in the red in line with benchmarks, falling up to 0.84 per cent.

Traders believe that though a profit-booking emerged at higher levels but election rally may continue if the election results come as per exit polls prediction.

On Monday, the 30-share index skyrocketed 1,421.90 points, or 3.75 per cent, to 39,352.67, and the Nifty soared 421.10 points, or 3.69 per cent, to 11,828.25.

The rally came after a majority of exit polls forecast another term for Prime Minister Narendra Modi. The results of the seven-phase polls will be announced on May 23.

Meanwhile, the Indian rupee was trading marginally lower at 69.76 against the US dollar.

Brent crude, the global benchmark, was trading at 72.01 per barrel, higher by 0.04 per cent.

Globally, bourses in Asia ended on a mixed note, while those in Europe were trading in the green in their respective early deals.

Benchmark indices took U-turn from record high levels touched during early trade on Tuesday, with the BSE Sensex tripping nearly 383 points and the NSE Nifty shedding over 119 points as investors hurried up to book profits.

Benchmark indices took U-turn from record high levels touched during early trade on Tuesday, with the BSE Sensex tripping nearly 383 points and the NSE Nifty shedding over 119 points as investors hurried up to book profits. An intense selling was seen, barring initial hours, across sectors after market participants sensed that exit polls euphoria over BJP's likely win in the general election has already been factored in appropriately. After hitting an intra-day record high of 39,571.73, the 30-share index ended 382.87 points, or 0.97 per cent, lower at 38,969.80. The gauge hit the day's low of 38,884.85. In a similar movement, the broader NSE Nifty plunged 119.15 points, or 1.01 per cent, to 11,709.10. Tata Motors was the biggest loser in the Sensex pack, dipping 7.05 per cent, a day after the company posted a 49 per cent decline in March quarter profit. Maruti, IndusInd Bank, M&M, Bharti Airtel, SBI, PowerGrid, Hero MotoCorp, Tata Steel, ICICI Bank, Infosys, Yes Bank and TCS too fell up to 3.25 per cent. On the other hand, RIL, HUL and Bajaj Finance ended in the green, rising up to 1.08 per cent. The broader BSE midcap and smallcap indices ended in the red in line with benchmarks, falling up to 0.84 per cent. Traders believe that though a profit-booking emerged at higher levels but election rally may continue if the election results come as per exit polls prediction. On Monday, the 30-share index skyrocketed 1,421.90 points, or 3.75 per cent, to 39,352.67, and the Nifty soared 421.10 points, or 3.69 per cent, to 11,828.25. The rally came after a majority of exit polls forecast another term for Prime Minister Narendra Modi. The results of the seven-phase polls will be announced on May 23. Meanwhile, the Indian rupee was trading marginally lower at 69.76 against the US dollar. Brent crude, the global benchmark, was trading at 72.01 per barrel, higher by 0.04 per cent. Globally, bourses in Asia ended on a mixed note, while those in Europe were trading in the green in their respective early deals.

Indices off record highs; Sensex slumps 383 points on profit booking

The Hinduja Group said on Tuesday it is evaluating a possible bid for <a href="https://www.wionews.com/business-economy/after-cfo-jet-airways-ceo-vinay-dube-resigns-218733">debt-laden Jet Airways Ltd</a>, sending shares of the grounded carrier as high as 14 per cent&nbsp;in afternoon trading.

The company was responding to a Reuters request for comment after a leading newspaper said the group would start the process of bidding this week.

Hinduja Group is in talks with Jet founder Naresh Goyal and investor Etihad, besides talking to investment bankers led by SBI Capital Markets for due diligence, the report said, citing sources.

SBI Capital Markets declined to comment, while Etihad did not respond to a Reuters query.

Jet Airways, once the biggest private carrier in the country, owes vast sums to its lessors, employees, fuel suppliers and other parties. It stopped all flights from April 17 after its lenders refused to give it any more funds to keep the carrier flying.

The Indian carrier, which is also saddled with roughly $1.2 billion in bank debt, was crippled by mounting losses as it attempted to compete with low-cost rivals Interglobe-owned IndiGo, SpiceJet Ltd and Wadia Group-owned GoAir.

For months, Jet has tried to convince investors, including Etihad, to pump in money and save the airline. However, suitors had some qualms, while a deadline for any interested parties to submit binding bids for the carrier ended on May 10.

State Bank of India (SBI), Jet's lead lender and the bank overseeing the sale process, earlier said it had only received three conditional offers, including one from Etihad.

Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier had said, adding that it cannot be the sole investor.

The airline has been rapidly shedding aircraft in recent weeks, as lessors have rushed to deregister and repossess planes in the wake of the turmoil.

It has also seen the exit of its chief executive and several other senior officials, lost hundreds of pilots, cabin crew and engineers to rivals and seen its valuable slots reallocated to rivals, making the rescue of the debt-laden carrier much tougher for a new investor.

Jet's shares were trading 14% higher at 149.70 rupees at 0925 GMT in an otherwise weak Mumbai market.

The Hinduja Group said on Tuesday it is evaluating a possible bid for debt-laden Jet Airways Ltd, sending shares of the grounded carrier as high as 14 per cent in afternoon trading.

The Hinduja Group said on Tuesday it is evaluating a possible bid for debt-laden Jet Airways Ltd, sending shares of the grounded carrier as high as 14 per cent in afternoon trading. The company was responding to a Reuters request for comment after a leading newspaper said the group would start the process of bidding this week. Hinduja Group is in talks with Jet founder Naresh Goyal and investor Etihad, besides talking to investment bankers led by SBI Capital Markets for due diligence, the report said, citing sources. SBI Capital Markets declined to comment, while Etihad did not respond to a Reuters query. Jet Airways, once the biggest private carrier in the country, owes vast sums to its lessors, employees, fuel suppliers and other parties. It stopped all flights from April 17 after its lenders refused to give it any more funds to keep the carrier flying. The Indian carrier, which is also saddled with roughly $1.2 billion in bank debt, was crippled by mounting losses as it attempted to compete with low-cost rivals Interglobe-owned IndiGo, SpiceJet Ltd and Wadia Group-owned GoAir. For months, Jet has tried to convince investors, including Etihad, to pump in money and save the airline. However, suitors had some qualms, while a deadline for any interested parties to submit binding bids for the carrier ended on May 10. State Bank of India (SBI), Jet's lead lender and the bank overseeing the sale process, earlier said it had only received three conditional offers, including one from Etihad. Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier had said, adding that it cannot be the sole investor. The airline has been rapidly shedding aircraft in recent weeks, as lessors have rushed to deregister and repossess planes in the wake of the turmoil. It has also seen the exit of its chief executive and several other senior officials, lost hundreds of pilots, cabin crew and engineers to rivals and seen its valuable slots reallocated to rivals, making the rescue of the debt-laden carrier much tougher for a new investor. Jet's shares were trading 14% higher at 149.70 rupees at 0925 GMT in an otherwise weak Mumbai market.

Hinduja Group evaluating bid for Jet Airways, shares rise

The rupee appreciated 79 paise to 69.44 against the US dollar in opening trade Monday after<a href="https://www.wionews.com/world/exit-polls-election-outcome-to-set-tone-for-markets-219971"> exit poll results </a>suggested another term for the ruling NDA government, even as crude oil prices firmed up.

Forex traders said investors welcomed the exit poll results that predict a thumping majority for the current BJP-led government.

Sentiments were also buoyed by positive opening in domestic equities.

The rupee opened at 70.36 the interbank forex market, then gained further ground to touch 69.44 per dollar, displaying gains of 79 paise against the greenback.

On Friday, the rupee had settled at 70.23 against the US dollar.

Foreign funds pulled out Rs 1,057.82 crore in the capital markets on a net basis Thursday, provisional data showed.

The benchmark BSE Sensex was trading with gains of 718.11 points, or 1.89 per cent, to quote at 38,657.65, while the NSE Nifty was trading at 11,615, up 207.85 points, or 1.82 per cent.

Meanwhile, Brent crude, the global benchmark, was trading at 73.28 per barrel higher by 1.48 per cent.

The rupee appreciated 79 paise to 69.44 against the US dollar in opening trade Monday after exit poll results suggested another term for the ruling NDA government, even as crude oil prices firmed up.

The rupee appreciated 79 paise to 69.44 against the US dollar in opening trade Monday after exit poll results suggested another term for the ruling NDA government, even as crude oil prices firmed up. Forex traders said investors welcomed the exit poll results that predict a thumping majority for the current BJP-led government. Sentiments were also buoyed by positive opening in domestic equities. The rupee opened at 70.36 the interbank forex market, then gained further ground to touch 69.44 per dollar, displaying gains of 79 paise against the greenback. On Friday, the rupee had settled at 70.23 against the US dollar. Foreign funds pulled out Rs 1,057.82 crore in the capital markets on a net basis Thursday, provisional data showed. The benchmark BSE Sensex was trading with gains of 718.11 points, or 1.89 per cent, to quote at 38,657.65, while the NSE Nifty was trading at 11,615, up 207.85 points, or 1.82 per cent. Meanwhile, Brent crude, the global benchmark, was trading at 73.28 per barrel higher by 1.48 per cent.

Rupee rises 79 paise to 69.44 vs US dollar as market cheers exit poll results

Oil&nbsp;rose to multi-week highs on Monday after OPEC indicated it will likely maintain production cuts that have helped support prices this year, while tensions continued to escalate in the Middle East.

Brent crude was up by 96 cents, or 1.3%, at $73.17 a barrel by 0227 GMT, having earlier touched $73.40, the highest since April 26.

US West Texas Intermediate crude was 82 cents, 1.3%, higher at $63.58 a barrel. The US&nbsp;benchmark reached $63.81 earlier, the highest since May 1.

<a href="https://www.wionews.com/world/saudis-falih-says-oil-stocks-still-building-but-opec-to-act-if-needed-219637">Saudi Energy Minister Khalid al-Falih </a>said on Sunday there was the consensus among the Organization of the Petroleum Exporting Countries (OPEC) and allied&nbsp;oil&nbsp;producers to drive down crude inventories "gently" but he would remain responsive to the needs of a "fragile market."

United Arab Emirates (UAE) Energy Minister Suhail al-Mazrouei earlier told reporters that producers were capable of filling any market gap and that relaxing supply cut was not "the right decision."

Meanwhile, US&nbsp;President Donald Trump threatened Tehran on Sunday, tweeting that a conflict would be the "official end" of Iran, while Saudi Arabia said it was ready to respond with "all strength" and that it was up to Iran to avoid war.

The rhetoric follows last week's attacks on Saudi&nbsp;oil&nbsp;assets and the firing of a rocket on Sunday into Baghdad's heavily fortified "Green Zone" that exploded near the US&nbsp;embassy.

"Al-Falih and the UAE both put paid to suggestions of increasing production over the weekend and then President Trump essentially telling Iran to bring it on, was a perfect short-term storm for&nbsp;oil&nbsp;prices," Greg McKenna, strategist at McKenna Macro, told Reuters by email.

OPEC, Russia and other non-member producers, an alliance known as OPEC+, agreed to reduce output by 1.2 million barrels per day (bpd) from January&nbsp;1 for six months to prevent inventories from increasing and weakening prices.

"This second half, our preference is to maintain production management to keep inventories on their way declining gradually, softly but certainly declining towards normal levels," al-Falih told a news conference after OPEC and other producers met.

Russian Energy Minister Alexander Novak earlier said an easing of cuts had been discussed and the supply situation would be clearer in a month, including from countries under sanctions.

Another bullish signal was the second week of declines in US&nbsp;drilling operations, with energy companies cutting&nbsp;oil&nbsp;rigs to the lowest since March 2018.

The rig count, an early indicator of future output, fell by 3 to 802, General Electric Co's Baker Hughes energy services unit said on Friday.

Oil rose to multi-week highs on Monday after OPEC indicated it will likely maintain production cuts that have helped support prices this year, while tensions continued to escalate in the Middle East.

Oil rose to multi-week highs on Monday after OPEC indicated it will likely maintain production cuts that have helped support prices this year, while tensions continued to escalate in the Middle East. Brent crude was up by 96 cents, or 1.3%, at $73.17 a barrel by 0227 GMT, having earlier touched $73.40, the highest since April 26. US West Texas Intermediate crude was 82 cents, 1.3%, higher at $63.58 a barrel. The US benchmark reached $63.81 earlier, the highest since May 1. Saudi Energy Minister Khalid al-Falih said on Sunday there was the consensus among the Organization of the Petroleum Exporting Countries (OPEC) and allied oil producers to drive down crude inventories "gently" but he would remain responsive to the needs of a "fragile market." United Arab Emirates (UAE) Energy Minister Suhail al-Mazrouei earlier told reporters that producers were capable of filling any market gap and that relaxing supply cut was not "the right decision." Meanwhile, US President Donald Trump threatened Tehran on Sunday, tweeting that a conflict would be the "official end" of Iran, while Saudi Arabia said it was ready to respond with "all strength" and that it was up to Iran to avoid war. The rhetoric follows last week's attacks on Saudi oil assets and the firing of a rocket on Sunday into Baghdad's heavily fortified "Green Zone" that exploded near the US embassy. "Al-Falih and the UAE both put paid to suggestions of increasing production over the weekend and then President Trump essentially telling Iran to bring it on, was a perfect short-term storm for oil prices," Greg McKenna, strategist at McKenna Macro, told Reuters by email. OPEC, Russia and other non-member producers, an alliance known as OPEC+, agreed to reduce output by 1.2 million barrels per day (bpd) from January 1 for six months to prevent inventories from increasing and weakening prices. "This second half, our preference is to maintain production management to keep inventories on their way declining gradually, softly but certainly declining towards normal levels," al-Falih told a news conference after OPEC and other producers met. Russian Energy Minister Alexander Novak earlier said an easing of cuts had been discussed and the supply situation would be clearer in a month, including from countries under sanctions. Another bullish signal was the second week of declines in US drilling operations, with energy companies cutting oil rigs to the lowest since March 2018. The rig count, an early indicator of future output, fell by 3 to 802, General Electric Co's Baker Hughes energy services unit said on Friday.

Oil surges after OPEC indicates it will maintain output cuts

Share markets in Asia got off to a steady start on Monday as investors tried to catch their breath following another week of escalating trade tensions between the United States and China.

In early trade, MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.6% after a steep 3% loss the previous week. US S&amp;P 500 e-mini futures also turned higher, rising 0.5% following losses on Wall Street on Friday.

The Dow Jones Industrial Average fell 0.38%, the S&amp;P 500 lost 0.58% and the Nasdaq Composite dropped 1.04%.

Australian shares jumped 1.4% after the centre-right Liberal-National Coalition pulled off a shock win in federal elections, beating the left-wing Labor Party.

Japan's Nikkei stock index added 0.4%, after data showed growth in the world's third-biggest economy unexpectedly accelerated in the first quarter.

The modest gains on Monday came even as financial markets remained on edge over the intensifying Sino-US&nbsp;trade war, with the Trump administration last week adding Huawei Technologies Co Ltd to a trade blacklist.

The repercussions of that move were evident as Alphabet Inc's Google suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing.

Google's suspension of business with Huawei "signals that even though the trade talks are being characterised as being stalled, when we factor in China saying there is no point (in) US negotiators coming to Beijing in current circumstances as they did Friday, then the chance of a G20 deal seem more remote," Greg McKenna, strategist at McKenna Macro said in a note to clients.

Noting the festering trade war, continued uncertainty over Brexit and rising tensions between the United States and Iran, McKenna said investors are currently "headline trading."

"(It's) too soon to see the economic consequences of the battle escalating. And so belief can be suspended until that time," he said.

Oil markets, however, saw some active trade early on after Saudi Arabia's energy minister said on Sunday that there was consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to "gently" reduce inventories.

Both U.S. crude and Brent crude jumped more than 1% following the minister's comments, with West Texas Intermediate fetching $63.51 a barrel and Brent crude at $73.05 per barrel.

In currency markets, China's offshore yuan rebounded after touching its weakest level against the dollar since November on Friday. It was last trading at 6.9280 per dollar.

In onshore trading on Friday, the yuan weakened past the psychologically important 6.9 per dollar level to end at its softest level in 19 weeks. However, sources say the country's central bank is expected to use foreign exchange intervention and monetary policy tools to stop it weakening past the 7-per-dollar level in the near term.

On Monday, the dollar added 0.2% against the yen to 110.30, and the euro was up 0.1% at $1.1165.

The dollar index, which tracks the greenback against a basket of six major rivals, was down a touch at 97.980.

The yield on benchmark 10-year Treasury notes rose to 2.4068% compared with a US close of 2.393% on Friday, while the two-year yield touched 2.2187%, up from Friday's US close of 2.202%.

Spot gold was 0.1% higher at $1,278.42 per ounce.

Share markets in Asia got off to a steady start on Monday as investors tried to catch their breath following another week of escalating trade tensions between the United States and China.

Share markets in Asia got off to a steady start on Monday as investors tried to catch their breath following another week of escalating trade tensions between the United States and China. In early trade, MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.6% after a steep 3% loss the previous week. US S&P 500 e-mini futures also turned higher, rising 0.5% following losses on Wall Street on Friday. The Dow Jones Industrial Average fell 0.38%, the S&P 500 lost 0.58% and the Nasdaq Composite dropped 1.04%. Australian shares jumped 1.4% after the centre-right Liberal-National Coalition pulled off a shock win in federal elections, beating the left-wing Labor Party. Japan's Nikkei stock index added 0.4%, after data showed growth in the world's third-biggest economy unexpectedly accelerated in the first quarter. The modest gains on Monday came even as financial markets remained on edge over the intensifying Sino-US trade war, with the Trump administration last week adding Huawei Technologies Co Ltd to a trade blacklist. The repercussions of that move were evident as Alphabet Inc's Google suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing. Google's suspension of business with Huawei "signals that even though the trade talks are being characterised as being stalled, when we factor in China saying there is no point (in) US negotiators coming to Beijing in current circumstances as they did Friday, then the chance of a G20 deal seem more remote," Greg McKenna, strategist at McKenna Macro said in a note to clients. Noting the festering trade war, continued uncertainty over Brexit and rising tensions between the United States and Iran, McKenna said investors are currently "headline trading." "(It's) too soon to see the economic consequences of the battle escalating. And so belief can be suspended until that time," he said. Oil markets, however, saw some active trade early on after Saudi Arabia's energy minister said on Sunday that there was consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to "gently" reduce inventories. Both U.S. crude and Brent crude jumped more than 1% following the minister's comments, with West Texas Intermediate fetching $63.51 a barrel and Brent crude at $73.05 per barrel. In currency markets, China's offshore yuan rebounded after touching its weakest level against the dollar since November on Friday. It was last trading at 6.9280 per dollar. In onshore trading on Friday, the yuan weakened past the psychologically important 6.9 per dollar level to end at its softest level in 19 weeks. However, sources say the country's central bank is expected to use foreign exchange intervention and monetary policy tools to stop it weakening past the 7-per-dollar level in the near term. On Monday, the dollar added 0.2% against the yen to 110.30, and the euro was up 0.1% at $1.1165. The dollar index, which tracks the greenback against a basket of six major rivals, was down a touch at 97.980. The yield on benchmark 10-year Treasury notes rose to 2.4068% compared with a US close of 2.393% on Friday, while the two-year yield touched 2.2187%, up from Friday's US close of 2.202%. Spot gold was 0.1% higher at $1,278.42 per ounce.

Asian shares steady after steep losses; Saudi comments lift oil

The rupee Monday appreciated by 49 paise, the biggest single-day gain in two months, to close at 69.74 against the US dollar following sharp gains in equities and forex inflows after exit polls suggested another term for the ruling NDA government.&nbsp;

Forex traders said investors welcomed <a href="https://www.wionews.com/india-general-elections-2019/exit-polls-2019-pm-modi-returning-to-power-with-300-plus-seats-say-pollsters-219927">exit poll results that predicted a thumping majority for the current BJP-led government</a>.&nbsp;

At the interbank foreign exchange, the domestic unit opened at 70.36 and advanced to a high of 69.44 during the day.&nbsp;

The currency finally settled at a nearly two-week high of 69.74, registering a rise of 49 paise or 0.70 per cent against the dollar over its previous close. On Friday, the rupee had settled at 70.23 against the US dollar.

This is the biggest single-day for the rupee since March 18 when the currency had zoomed by 57 paise or 0.82 per cent.&nbsp;

According to WGC Wealth Chief Investment Officer Rajesh Cheruvu, India saw a remarkable strengthening in its currency after exit polls and some de-coupling of the INR from other emerging currencies could be seen over the next few trading sessions.

Sentiments were also buoyed by positive opening in domestic equities, and foreign fund inflows.

<a href="https://www.wionews.com/business-economy/after-witnessing-eventful-day-stock-market-close-at-record-high-sensex-surges-over-1400-points-220115">Benchmark Sensex zoomed over 1,422 points</a> and the NSE Nifty surged 421 points after most exit polls showed that the Narendra Modi-led NDA is returning to power with a thumping majority in the Lok Sabha elections.&nbsp;

The 30-share index ended 1,421.90 points or 3.75 per cent, higher at 39,352.67. During the day, the gauge hit a high of 39,412.56 and a low of 38,570.04.

In a similar movement, the broader NSE Nifty soared 421.10 points, or 3.69 per cent, to 11,828.25.

Foreign investors put in Rs 1,734.45 crore on a net basis in equity markets Monday, provisional exchange data showed.

"Most of the exit polls have projected thumping majority for the NDA government. The government has taken bold steps in the last five years. This ensures policy continuity and required stability. Hence it will attract long term investors. So if the exit polls match the actual outcome then the rupee may head towards 68 levels in coming sessions," said Rushabh Maru, Research Analyst - Currency and Commodity, Anand Rathi Shares and Stock Brokers.

However, rising crude oil prices weighed on the domestic currency. Meanwhile, Brent crude, the global benchmark, was trading at 72.51 per barrel higher by 0.42 per cent.&nbsp;

Meanwhile, the Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.1666 and for rupee/euro at 78.4336. The reference rate for rupee/British pound was fixed at 89.7276 and for rupee/100 Japanese yen at 64.03.&nbsp;

The rupee Monday appreciated by 49 paise, the biggest single-day gain in two months, to close at 69.74 against the US dollar following sharp gains in equities and forex inflows after exit polls suggested another term for the ruling NDA government.

The rupee Monday appreciated by 49 paise, the biggest single-day gain in two months, to close at 69.74 against the US dollar following sharp gains in equities and forex inflows after exit polls suggested another term for the ruling NDA government. Forex traders said investors welcomed exit poll results that predicted a thumping majority for the current BJP-led government. At the interbank foreign exchange, the domestic unit opened at 70.36 and advanced to a high of 69.44 during the day. The currency finally settled at a nearly two-week high of 69.74, registering a rise of 49 paise or 0.70 per cent against the dollar over its previous close. On Friday, the rupee had settled at 70.23 against the US dollar. This is the biggest single-day for the rupee since March 18 when the currency had zoomed by 57 paise or 0.82 per cent. According to WGC Wealth Chief Investment Officer Rajesh Cheruvu, India saw a remarkable strengthening in its currency after exit polls and some de-coupling of the INR from other emerging currencies could be seen over the next few trading sessions. Sentiments were also buoyed by positive opening in domestic equities, and foreign fund inflows. Benchmark Sensex zoomed over 1,422 points and the NSE Nifty surged 421 points after most exit polls showed that the Narendra Modi-led NDA is returning to power with a thumping majority in the Lok Sabha elections. The 30-share index ended 1,421.90 points or 3.75 per cent, higher at 39,352.67. During the day, the gauge hit a high of 39,412.56 and a low of 38,570.04. In a similar movement, the broader NSE Nifty soared 421.10 points, or 3.69 per cent, to 11,828.25. Foreign investors put in Rs 1,734.45 crore on a net basis in equity markets Monday, provisional exchange data showed. "Most of the exit polls have projected thumping majority for the NDA government. The government has taken bold steps in the last five years. This ensures policy continuity and required stability. Hence it will attract long term investors. So if the exit polls match the actual outcome then the rupee may head towards 68 levels in coming sessions," said Rushabh Maru, Research Analyst - Currency and Commodity, Anand Rathi Shares and Stock Brokers. However, rising crude oil prices weighed on the domestic currency. Meanwhile, Brent crude, the global benchmark, was trading at 72.51 per barrel higher by 0.42 per cent. Meanwhile, the Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.1666 and for rupee/euro at 78.4336. The reference rate for rupee/British pound was fixed at 89.7276 and for rupee/100 Japanese yen at 64.03.

Rupee records biggest gain in 2 months after exit poll results

German automobile giant Mercedes-Benz has launched its first ever BS 6 Long Wheelbase E-Class luxury business sedan in India. Priced between Rs 57,50,000 and 62,50,000, the all new LWB BS 6 E-Class is available in E 200 and E 220 d in two new variants.&nbsp;

The luxury business sedan comes studded with enhanced design, attractive features and was launched in India by Martin Schwenk, managing director and CEO, Mercedes-Benz India.

The sedan comes with ‘most spacious’ rear cabin in the segment and features two state-of-the-art BS 6 compliant petrol and diesel engines. It also comes with new interior appointments and feature additions including an intuitive rear touchpad, Burmester high-end surround sound system, widescreen digital cockpit (12.3 inch) and a rear wireless charger.

Here's taking a quick look at the salient features of the all-new Mercedes-Benz BS 6 Long Wheelbase E-Class:

- The New LWB BS 6 E-Class boasts of top-end E 350d feature across all variants. It comes with more plush interiors.

- The premium sedan comes with a futuristic-looking display with a 12.3-inch screen. With 3 display styles, one can adjust how information is depicted in the instrument display.

- Experience more performance and exclusivity with the legendary Burmester sound. The high-performance speakers develop first-class surround sound and come with 13 speakers and a total system output of 590 watts.&nbsp;

- Wireless charging for mobile phones in the rear provides convenience to customers. The storage compartment between the seats is also an inductive charging area. The vehicle supports all mobile devices that use the Qi standard.

- The premium business sedan comes equipped with a rear touchscreen to control media, climate and vehicle functionalities.&nbsp;

- The Long Wheelbase E-Class is BS-VI compliant&nbsp;

The New BS 6 E 200 and E 220 d are priced as following:

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px;">
	<tbody>
		<tr>
			<td>E 200 Expression</td>
			<td>Rs 57,50,000</td>
		</tr>
		<tr>
			<td>E 200 Exclusive</td>
			<td>Rs 61,50,000</td>
		</tr>
		<tr>
			<td>E 220 d Expression</td>
			<td>Rs 58,50,000</td>
		</tr>
		<tr>
			<td>E 220 d Exclusive</td>
			<td>Rs 62,50,000</td>
		</tr>
	</tbody>
</table>

 
&nbsp;

German automobile giant Mercedes-Benz has launched its first ever BS 6 Long Wheelbase E-Class luxury business sedan in India. Priced between Rs 57,50,000 and 62,50,000, the all new LWB BS 6 E-Class is available in E 200 and E 220 d in two new variants.

German automobile giant Mercedes-Benz has launched its first ever BS 6 Long Wheelbase E-Class luxury business sedan in India. Priced between Rs 57,50,000 and 62,50,000, the all new LWB BS 6 E-Class is available in E 200 and E 220 d in two new variants. The luxury business sedan comes studded with enhanced design, attractive features and was launched in India by Martin Schwenk, managing director and CEO, Mercedes-Benz India. The sedan comes with ‘most spacious’ rear cabin in the segment and features two state-of-the-art BS 6 compliant petrol and diesel engines. It also comes with new interior appointments and feature additions including an intuitive rear touchpad, Burmester high-end surround sound system, widescreen digital cockpit (12.3 inch) and a rear wireless charger. Here's taking a quick look at the salient features of the all-new Mercedes-Benz BS 6 Long Wheelbase E-Class: - The New LWB BS 6 E-Class boasts of top-end E 350d feature across all variants. It comes with more plush interiors. - The premium sedan comes with a futuristic-looking display with a 12.3-inch screen. With 3 display styles, one can adjust how information is depicted in the instrument display. - Experience more performance and exclusivity with the legendary Burmester sound. The high-performance speakers develop first-class surround sound and come with 13 speakers and a total system output of 590 watts. - Wireless charging for mobile phones in the rear provides convenience to customers. The storage compartment between the seats is also an inductive charging area. The vehicle supports all mobile devices that use the Qi standard. - The premium business sedan comes equipped with a rear touchscreen to control media, climate and vehicle functionalities. - The Long Wheelbase E-Class is BS-VI compliant The New BS 6 E 200 and E 220 d are priced as following: E 200 Expression Rs 57,50,000 E 200 Exclusive Rs 61,50,000 E 220 d Expression Rs 58,50,000 E 220 d Exclusive Rs 62,50,000

Mercedes-Benz launches Long Wheelbase E-Class luxury sedan in India starting at Rs 57.5 lakh 

European stocks slipped on Monday as concerns about an escalating fallout from a US&nbsp;crackdown on <a href="https://www.wionews.com/business-economy/huawei-founder-says-growth-may-slow-but-only-slightly-after-us-restrictions-219759">China's Huawei Technologies</a> offset a slightly more positive tone on trade.

Asian shares managed to reverse some of last week's heavy losses on Monday after the United States said it would lift tariffs in North America, as investors cheered apparent wins by Conservative incumbent parties in elections in Australia and India.

But the mood did not carry over to European markets. The pan-European Euro STOXX 600 fell 0.1%, the German DAX slipped 0.17%, while France's CAC 40 weakened 0.21%.

US President Donald Trump's government added Huawei to a trade blacklist last week, imposing restrictions that will make it difficult to do business with US&nbsp;companies.

The repercussions of that move became evident as Google suspended some business with Huawei.

In Europe, chipmakers Infineon Technologies, AMS and STMicroelectronics dropped sharply after Nikkei Asian Review reported that German chipmaker Infineon had halted shipments to Huawei. The company had no immediate comment.

"Market volatility continues to stem from announcements and interpretations of what is going on in trade disputes between the US&nbsp;and its trading partners, but principally China," said Jasper Lawler, head of research at London Capital Group.

"Whilst the latest headlines over Canada are supportive of sentiment, a news bite which increases risk aversion could be just around the corner. Investors know this and are on edge right now. That won’t change overnight. China is unlikely to take Google's suspension of business with Huawei lying down."

On the positive side, a US&nbsp;decision on Friday to remove tariffs on Canadian steel and aluminium prompted Canada's foreign minister to vow the quick ratification of a new North American trade agreement.

The MSCI index of world shares, which tracks shares in 47 countries, rose 0.08%. It remains some 3.6% below its 2019 highs as the sudden return of trade war jitters sent the stock market's strong rally into reverse.

The US&nbsp;S&amp;P 500 e-mini futures turned higher, rising 0.23% following losses on Wall Street on Friday.

Prominent investor Jim Rogers, who co-founded the Quantum Fund with George Soros, told the Reuters Global Markets Forum that he believed Washington and Beijing would soon announce a trade deal, although the current spat would not be the last time Trump tried to exploit the prospect of a trade war.

"These are negotiating tactics from Mr Trump at the moment. What will happen is we will have some good news, the market will have a rally. It will probably be the last rally," he said.

Oil jumps

Oil prices jumped after Saudi Energy Minister Khalid al-Falih said that there was the consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to "gently" reduce inventories.

Both US&nbsp;crude and Brent crude jumped more than 1.1% on Monday, with West Texas Intermediate fetching $63.5 a barrel and Brent crude at $73.04 per barrel.

Rising tensions in the Middle East, which have supported oil prices, ratcheted up another notch on the weekend as Trump issued new threats, tweeting that a conflict with Iran would be the "official end" of that country.

In currency markets, the Australian dollar jumped nearly 1% after the centre-right Liberal-National Coalition pulled off a shock win in a federal election, beating the centre-left Labor party.

The Indian rupee also rallied after exit polls pointed to a majority for Prime Minister<a href="https://www.wionews.com/opinions/modi-checkmated-oppositions-attempt-to-turn-advanis-statement-against-current-bjp-leadership-208323"> Narendra Modi's Bharatiya Janata Party</a> and allies. The rupee was last up 1.1%.

China's offshore yuan rebounded after touching its weakest against the dollar since November on Friday. It last traded up 0.1% at 6.9441 per dollar.

Sources told Reuters China's central bank is expected to use foreign exchange intervention and monetary policy tools to stop it weakening past the 7-per-dollar level in the near term.

The dollar slipped slightly against the euro to $1.1161.

Sterling recovered 0.3% to $1.2751 after suffering its biggest weekly loss since 2017 after an apparent collapse in Brexit talks in London.

German government bond yields moved slightly higher. That followed a fall towards new 2-1/2 year lows last week after investors flocked to safe-haven debt.

Austrian yields held firm after a scandal prompted Chancellor Sebastian Kurz to pull the plug on his coalition with the far right at the weekend, raising the chances of a snap election.

European stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China's Huawei Technologies offset a slightly more positive tone on trade.

European stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China's Huawei Technologies offset a slightly more positive tone on trade. Asian shares managed to reverse some of last week's heavy losses on Monday after the United States said it would lift tariffs in North America, as investors cheered apparent wins by Conservative incumbent parties in elections in Australia and India. But the mood did not carry over to European markets. The pan-European Euro STOXX 600 fell 0.1%, the German DAX slipped 0.17%, while France's CAC 40 weakened 0.21%. US President Donald Trump's government added Huawei to a trade blacklist last week, imposing restrictions that will make it difficult to do business with US companies. The repercussions of that move became evident as Google suspended some business with Huawei. In Europe, chipmakers Infineon Technologies, AMS and STMicroelectronics dropped sharply after Nikkei Asian Review reported that German chipmaker Infineon had halted shipments to Huawei. The company had no immediate comment. "Market volatility continues to stem from announcements and interpretations of what is going on in trade disputes between the US and its trading partners, but principally China," said Jasper Lawler, head of research at London Capital Group. "Whilst the latest headlines over Canada are supportive of sentiment, a news bite which increases risk aversion could be just around the corner. Investors know this and are on edge right now. That won’t change overnight. China is unlikely to take Google's suspension of business with Huawei lying down." On the positive side, a US decision on Friday to remove tariffs on Canadian steel and aluminium prompted Canada's foreign minister to vow the quick ratification of a new North American trade agreement. The MSCI index of world shares, which tracks shares in 47 countries, rose 0.08%. It remains some 3.6% below its 2019 highs as the sudden return of trade war jitters sent the stock market's strong rally into reverse. The US S&P 500 e-mini futures turned higher, rising 0.23% following losses on Wall Street on Friday. Prominent investor Jim Rogers, who co-founded the Quantum Fund with George Soros, told the Reuters Global Markets Forum that he believed Washington and Beijing would soon announce a trade deal, although the current spat would not be the last time Trump tried to exploit the prospect of a trade war. "These are negotiating tactics from Mr Trump at the moment. What will happen is we will have some good news, the market will have a rally. It will probably be the last rally," he said. Oil jumps Oil prices jumped after Saudi Energy Minister Khalid al-Falih said that there was the consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to "gently" reduce inventories. Both US crude and Brent crude jumped more than 1.1% on Monday, with West Texas Intermediate fetching $63.5 a barrel and Brent crude at $73.04 per barrel. Rising tensions in the Middle East, which have supported oil prices, ratcheted up another notch on the weekend as Trump issued new threats, tweeting that a conflict with Iran would be the "official end" of that country. In currency markets, the Australian dollar jumped nearly 1% after the centre-right Liberal-National Coalition pulled off a shock win in a federal election, beating the centre-left Labor party. The Indian rupee also rallied after exit polls pointed to a majority for Prime Minister Narendra Modi's Bharatiya Janata Party and allies. The rupee was last up 1.1%. China's offshore yuan rebounded after touching its weakest against the dollar since November on Friday. It last traded up 0.1% at 6.9441 per dollar. Sources told Reuters China's central bank is expected to use foreign exchange intervention and monetary policy tools to stop it weakening past the 7-per-dollar level in the near term. The dollar slipped slightly against the euro to $1.1161. Sterling recovered 0.3% to $1.2751 after suffering its biggest weekly loss since 2017 after an apparent collapse in Brexit talks in London. German government bond yields moved slightly higher. That followed a fall towards new 2-1/2 year lows last week after investors flocked to safe-haven debt. Austrian yields held firm after a scandal prompted Chancellor Sebastian Kurz to pull the plug on his coalition with the far right at the weekend, raising the chances of a snap election.

Global Markets: European shares hobbled as worries about Huawei fallout mount

European firms are "caught in the crossfire" of the <a href="https://www.wionews.com/world/eu-firms-caught-in-crossfire-of-us-china-trade-war-220067">US-China trade war </a>and fewer are optimistic about their future in the world's second-largest economy, a business survey showed Monday.

The clash between Beijing and Washington does not benefit European companies, contrary to what some might have hoped at the beginning of the dispute last year, according to the European Union Chamber of Commerce in China.

"Now the trade tensions are seen as another uncertainty on the business environment, something that won't be sorted out quickly whether there is a deal or not," said chamber vice president Charlotte Roule.

"The trade tensions, according to our members, are not good for business".

According to the survey, the trade war is one of the top concerns for European firms in China (23 per cent), after the Chinese economic slowdown (45 per cent), the global economy (27 per cent) and rising labour costs in China (23 per cent).

The study, which received replies from 585 firms, was conducted in January, as trans-Pacific trade tensions eased.

They ratcheted up again in early May with the United States and China slapping steep increases in punitive customs tariffs on each other.

But early this year, a quarter of European companies in China said they were already suffering from the US increase in tariffs on Chinese products.

Many European companies manufacture products in China and export them all over the world.

A small number (six per cent) have already relocated to circumvent the US penalties, or are planning to do so elsewhere in Asia or Europe.

But Europeans say they share many of the grievances raised by the Trump administration in its campaign against Beijing.

"The fundamental issues driving the trade war need to be resolved by addressing market access barriers and regulatory challenges while also tackling SOE reform and forced tech transfer," Roule stressed.

Some 20 per cent of the companies surveyed complained of being forced into technology transfers for the benefit of a Chinese partner, double the figure two years ago. For a quarter (24 per cent), such transfers were currently underway.

"The authorities are saying there are no technology transfers any more but this is not what we see in our survey," she said.

Chinese foreign ministry spokesman Lu Kang reiterated Beijing's denial.

"We do not have a national policy of forcing foreign companies to transfer technology," Lu said at a regular press briefing.

He recalled that the country's rubber-stamp parliament adopted in March a foreign investment law that prohibits the use of "administrative means" to force the transfer of technology.

'Ambiguous rules'&nbsp;

More than half of the companies said legal protection of intellectual property was "inadequate", and 45 per cent say they suffer "unequal treatment" compared to their Chinese counterparts.

State firms and their subsidies are their main bone of contention.

The Europeans largely accuse these companies of enjoying preferential treatment, with 62 per cent saying they have better access to public contracts.

And the outlook is getting gloomier: only 45 per cent of the firms surveyed say they are optimistic about growth prospects for their sector over the next two years, compared to 62 per cent a year ago.

Half do not expect to see a level playing field in the next five years or even beyond.

Fifty-three per cent say business has become more difficult in the past year, up from 48 per cent a year ago, with "ambiguous rules and regulations" topping of the list of obstacles cited by companies.

Difficulties with access to the internet, which is closely monitored and censored by the Communist government, is an unfavourable factor for 51 per cent of respondents.

Despite the problems, China remains one of the top three global destinations for future investment by 62 per cent of the surveyed companies, a slight increase from last year, while 56 per cent plan to expand their business in the country this year.

European firms are "caught in the crossfire" of the US-China trade war and fewer are optimistic about their future in the world's second-largest economy, a business survey showed Monday.

European firms are "caught in the crossfire" of the US-China trade war and fewer are optimistic about their future in the world's second-largest economy, a business survey showed Monday. The clash between Beijing and Washington does not benefit European companies, contrary to what some might have hoped at the beginning of the dispute last year, according to the European Union Chamber of Commerce in China. "Now the trade tensions are seen as another uncertainty on the business environment, something that won't be sorted out quickly whether there is a deal or not," said chamber vice president Charlotte Roule. "The trade tensions, according to our members, are not good for business". According to the survey, the trade war is one of the top concerns for European firms in China (23 per cent), after the Chinese economic slowdown (45 per cent), the global economy (27 per cent) and rising labour costs in China (23 per cent). The study, which received replies from 585 firms, was conducted in January, as trans-Pacific trade tensions eased. They ratcheted up again in early May with the United States and China slapping steep increases in punitive customs tariffs on each other. But early this year, a quarter of European companies in China said they were already suffering from the US increase in tariffs on Chinese products. Many European companies manufacture products in China and export them all over the world. A small number (six per cent) have already relocated to circumvent the US penalties, or are planning to do so elsewhere in Asia or Europe. But Europeans say they share many of the grievances raised by the Trump administration in its campaign against Beijing. "The fundamental issues driving the trade war need to be resolved by addressing market access barriers and regulatory challenges while also tackling SOE reform and forced tech transfer," Roule stressed. Some 20 per cent of the companies surveyed complained of being forced into technology transfers for the benefit of a Chinese partner, double the figure two years ago. For a quarter (24 per cent), such transfers were currently underway. "The authorities are saying there are no technology transfers any more but this is not what we see in our survey," she said. Chinese foreign ministry spokesman Lu Kang reiterated Beijing's denial. "We do not have a national policy of forcing foreign companies to transfer technology," Lu said at a regular press briefing. He recalled that the country's rubber-stamp parliament adopted in March a foreign investment law that prohibits the use of "administrative means" to force the transfer of technology. 'Ambiguous rules' More than half of the companies said legal protection of intellectual property was "inadequate", and 45 per cent say they suffer "unequal treatment" compared to their Chinese counterparts. State firms and their subsidies are their main bone of contention. The Europeans largely accuse these companies of enjoying preferential treatment, with 62 per cent saying they have better access to public contracts. And the outlook is getting gloomier: only 45 per cent of the firms surveyed say they are optimistic about growth prospects for their sector over the next two years, compared to 62 per cent a year ago. Half do not expect to see a level playing field in the next five years or even beyond. Fifty-three per cent say business has become more difficult in the past year, up from 48 per cent a year ago, with "ambiguous rules and regulations" topping of the list of obstacles cited by companies. Difficulties with access to the internet, which is closely monitored and censored by the Communist government, is an unfavourable factor for 51 per cent of respondents. Despite the problems, China remains one of the top three global destinations for future investment by 62 per cent of the surveyed companies, a slight increase from last year, while 56 per cent plan to expand their business in the country this year.

European Union firms 'caught in crossfire' of US-China trade war

The domestic stock market on Monday closed at a historic high after <a href="https://www.wionews.com/india-general-elections-2019/sensex-surges-over-1000-points-may-cross-40000-as-exit-poll-predict-nda-win-220058">witnessing an eventful day of rallying</a> after exit polls predicted an easy win for the Bharatiya Janata Party-led National Democratic Alliance (NDA) in Lok Sabha 2019 polls.&nbsp;

BSE Sensex scaled 1,422 points to close at a record high of 39,353 while NSE Nifty surged 421 points to close at an all-time high of 11,828.&nbsp;

Sensex surged over 1000 points during the trade hours, and the rupee appreciated 79 paise against the US dollar. Domestic benchmark indices continued to extend their rally later in the day with the BSE Sensex climbing 1,300 points and Nifty touching 11,800 mark.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/sensex-jumps-over-1000-points-after-exit-polls-predict-nda-win-220065/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The 30-share index was trading 1,341 points close to the session end, higher at 39,271.77 points. In similar movement, Nifty soared 393.95 points, or 3.45 per cent, to 11,801.10.&nbsp;

Most exit polls Sunday forecast another term for Prime Minister Narendra Modi, with some of them projecting that BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha.

Pollsters predicted the <a href="https://www.wionews.com/india-general-elections-2019/bjp-in-countrys-hindi-heartland-exit-polls-spell-thumping-victory-for-party-in-madhya-pradesh-4-other-states-219985">BJP to make a clean sweet in the Hindi heartland</a> of the nation in states like Madhya Pradesh, Uttar Pradesh, Maharashtra, Bihar, Rajasthan, Gujarat and the national capital.&nbsp;

The results of the seven-phase polls will come out Thursday.

Meanwhile, European stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China's Huawei Technologies offset a slightly more positive tone on trade, news agency Reuters reported.&nbsp;

Asian shares managed to reverse some of last week's heavy losses on Monday after the United States said it would lift tariffs in North America, as investors cheered apparent wins by incumbent parties in elections in Australia and India.&nbsp;

Oil prices jumped after Saudi Energy Minister Khalid al-Falih said that there was a consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to "gently" reduce inventories.

Both US crude and Brent crude jumped more than 1.1% on Monday, with West Texas Intermediate fetching $63.5 a barrel and Brent crude at $73.04 per barrel, Reuters reported.&nbsp;

(With inputs from Reuters)&nbsp;

 
&nbsp;

The domestic stock market on Monday closed at a historic high after witnessing an eventful day of rallying after exit polls predicted an easy win for the Bharatiya Janata Party-led National Democratic Alliance (NDA) in Lok Sabha 2019 polls.

The domestic stock market on Monday closed at a historic high after witnessing an eventful day of rallying after exit polls predicted an easy win for the Bharatiya Janata Party-led National Democratic Alliance (NDA) in Lok Sabha 2019 polls. BSE Sensex scaled 1,422 points to close at a record high of 39,353 while NSE Nifty surged 421 points to close at an all-time high of 11,828. Sensex surged over 1000 points during the trade hours, and the rupee appreciated 79 paise against the US dollar. Domestic benchmark indices continued to extend their rally later in the day with the BSE Sensex climbing 1,300 points and Nifty touching 11,800 mark. The 30-share index was trading 1,341 points close to the session end, higher at 39,271.77 points. In similar movement, Nifty soared 393.95 points, or 3.45 per cent, to 11,801.10. Most exit polls Sunday forecast another term for Prime Minister Narendra Modi, with some of them projecting that BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha. Pollsters predicted the BJP to make a clean sweet in the Hindi heartland of the nation in states like Madhya Pradesh, Uttar Pradesh, Maharashtra, Bihar, Rajasthan, Gujarat and the national capital. The results of the seven-phase polls will come out Thursday. Meanwhile, European stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China's Huawei Technologies offset a slightly more positive tone on trade, news agency Reuters reported. Asian shares managed to reverse some of last week's heavy losses on Monday after the United States said it would lift tariffs in North America, as investors cheered apparent wins by incumbent parties in elections in Australia and India. Oil prices jumped after Saudi Energy Minister Khalid al-Falih said that there was a consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to "gently" reduce inventories. Both US crude and Brent crude jumped more than 1.1% on Monday, with West Texas Intermediate fetching $63.5 a barrel and Brent crude at $73.04 per barrel, Reuters reported. (With inputs from Reuters)

After witnessing eventful day, stock markets close at record high; Sensex surges over 1,400 points 

Equity markets will track election trends this week as the exit polls showed that the ruling NDA is likely to come back to power.

The results of the seven-phase polls will come out Thursday and experts opined that markets have partly discounted exit poll outcome in the last few days.

Most exit polls Sunday forecast another term for Prime Minister Narendra Modi, with some of them projecting that <a href="https://www.wionews.com/india-general-elections-2019/exit-polls-2019-pm-modi-returning-to-power-with-300-plus-seats-say-pollsters-219927">BJP-led NDA will get more than 300 seats</a> to comfortably cross the majority mark of 272 in the Lok Sabha.

Regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election-related events lined up.

"Most exit polls have predicted NDA to win the Lok Sabha elections with a good margin. This was partly discounted in the markets over the last few days. The street would like it even more if the BJP on its own gets a <a href="https://www.wionews.com/india-general-elections-2019/lions-share-of-uttar-pradeshs-seats-going-to-bjp-predict-exit-polls-219936">majority in the Lok Sabha</a>.

"However, going by the way the exit polls in the last two elections were off the mark from the actual numbers, the markets would get excited but not super excited," said Deepak Jasani, Head, Retail Research.

Investors should also brace for bouts of volatility in view of the high-octane election-related events, the analysts said.

Experts are of the opinion that bourses may be indecisive till the final election outcome is known.

"This week there is an event that is able to produce long-term trends in the market and is the factor that sets the tone for wealth creation. The political events like election results usually produce trends that last for years. Hence, it becomes very important for the economy and investors," said Mustafa Nadeem, CEO, Epic Research.

There can be sharp movement in the markets but the exit polls bring some decisiveness on the table as well, he added.

"This week is going to be the most happening of the year wherein all eyes would be glued to not 'stock quotes' but 'vote quotes'," said Jimeet Modi, Founder and CEO, SAMCO Securities &amp; StockNote.

Quarterly earnings would also impact trading as some major companies are scheduled to announce their financial report card this week, including Tata Motors, Canara Bank and Cipla.

Besides, the US-China trade-related issues, crude oil prices, rupee movement and foreign funds trend would influence trading sentiment, they added. 
During the last week, the BSE Sensex gained 467.78 points or 1.24 per cent.

On Friday, the 30-share benchmark closed 537.29 points or 1.44 per cent, higher at 37,930.77. Similarly, the broader Nifty rose 150.05 points, or 1.33 per cent, to settle at 11,407.15.

"Indian markets have shown tremendous strength before the long-awaited exit polls, despite the ongoing ambiguity in US-China trade talks," said Jagannadham Thunuguntla, Senior VP and Head of Research (Wealth), Centrum Broking Limited.&nbsp;

Equity markets will track election trends this week as the exit polls showed that the ruling NDA is likely to come back to power. The results of the seven-phase polls will come out Thursday and experts opined that markets have partly discounted exit poll outcome in the last few days.

Equity markets will track election trends this week as the exit polls showed that the ruling NDA is likely to come back to power. The results of the seven-phase polls will come out Thursday and experts opined that markets have partly discounted exit poll outcome in the last few days. Most exit polls Sunday forecast another term for Prime Minister Narendra Modi, with some of them projecting that BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha. Regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election-related events lined up. "Most exit polls have predicted NDA to win the Lok Sabha elections with a good margin. This was partly discounted in the markets over the last few days. The street would like it even more if the BJP on its own gets a majority in the Lok Sabha. "However, going by the way the exit polls in the last two elections were off the mark from the actual numbers, the markets would get excited but not super excited," said Deepak Jasani, Head, Retail Research. Investors should also brace for bouts of volatility in view of the high-octane election-related events, the analysts said. Experts are of the opinion that bourses may be indecisive till the final election outcome is known. "This week there is an event that is able to produce long-term trends in the market and is the factor that sets the tone for wealth creation. The political events like election results usually produce trends that last for years. Hence, it becomes very important for the economy and investors," said Mustafa Nadeem, CEO, Epic Research. There can be sharp movement in the markets but the exit polls bring some decisiveness on the table as well, he added. "This week is going to be the most happening of the year wherein all eyes would be glued to not 'stock quotes' but 'vote quotes'," said Jimeet Modi, Founder and CEO, SAMCO Securities & StockNote. Quarterly earnings would also impact trading as some major companies are scheduled to announce their financial report card this week, including Tata Motors, Canara Bank and Cipla. Besides, the US-China trade-related issues, crude oil prices, rupee movement and foreign funds trend would influence trading sentiment, they added. During the last week, the BSE Sensex gained 467.78 points or 1.24 per cent. On Friday, the 30-share benchmark closed 537.29 points or 1.44 per cent, higher at 37,930.77. Similarly, the broader Nifty rose 150.05 points, or 1.33 per cent, to settle at 11,407.15. "Indian markets have shown tremendous strength before the long-awaited exit polls, despite the ongoing ambiguity in US-China trade talks," said Jagannadham Thunuguntla, Senior VP and Head of Research (Wealth), Centrum Broking Limited.

Exit polls, election outcome to set tone for markets

Huawei Technologies' founder and<a href="https://www.wionews.com/world/theres-no-way-the-us-can-crush-us-huawei-founder-ren-zhengfei-198211"> chief executive Ren Zhengfei </a>said on Saturday the growth of the Chinese tech giant "may slow, but only slightly" due to recent US&nbsp;restrictions.

In remarks to the Japanese press and reported by Nikkei Asian Review, Ren reiterated that the Chinese telecom equipment maker has not violated any law.

"It is expected that Huawei's growth may slow, but only slightly," Ren told Japanese media in his first official comments after the US&nbsp;restrictions, adding that the company's annual revenue growth may undershoot 20%.

On Thursday, Washington put Huawei, one of China's biggest and most successful companies, on a trade blacklist that could make it extremely difficult for Huawei to do business with US companies, a decision slammed by China, which said it will take steps to protect its companies.

The developments surrounding Huawei come at a time of trade tensions between Washington and Beijing and amid concerns from the United States that Huawei's smartphones and network equipment could be used by China to spy on Americans, allegations the company has repeatedly denied.

A similar US ban on China's ZTE Corp had almost crippled business for the smaller Huawei rival early last year before the curb was lifted.

The US&nbsp;Commerce Department said on Friday it may soon scale back restrictions on Huawei.

Ren said the company was prepared for such a step and that Huawei would be "fine" even if US&nbsp;smartphone chipmaker Qualcomm Inc and other American suppliers would not sell chips to the company.

Huawei's chip arm HiSilicon said on Friday it has long been prepared for the scenario that it could be banned from purchasing US chips and technology and is able to ensure a steady supply of most products.

The Huawei founder said that the company will not be taking instructions from the US government.

"We will not change our management at the request of the US or accept monitoring, as ZTE has done," he said.

In January, US prosecutors unsealed an indictment accusing the Chinese company of engaging in bank fraud to obtain embargoed US&nbsp;goods and services in Iran and to move money out of the country via the international banking system.

Ren's daughter, Huawei Chief Financial Officer Meng Wanzhou, was arrested in Canada in December in connection with the indictment. Meng, who was released on bail, remains in Vancouver and is fighting extradition. She has maintained her innocence.

Ren has previously said his daughter's arrest was politically motivated.

Huawei Technologies' founder and chief executive Ren Zhengfei said on Saturday the growth of the Chinese tech giant "may slow, but only slightly" due to recent US restrictions.

Huawei Technologies' founder and chief executive Ren Zhengfei said on Saturday the growth of the Chinese tech giant "may slow, but only slightly" due to recent US restrictions. In remarks to the Japanese press and reported by Nikkei Asian Review, Ren reiterated that the Chinese telecom equipment maker has not violated any law. "It is expected that Huawei's growth may slow, but only slightly," Ren told Japanese media in his first official comments after the US restrictions, adding that the company's annual revenue growth may undershoot 20%. On Thursday, Washington put Huawei, one of China's biggest and most successful companies, on a trade blacklist that could make it extremely difficult for Huawei to do business with US companies, a decision slammed by China, which said it will take steps to protect its companies. The developments surrounding Huawei come at a time of trade tensions between Washington and Beijing and amid concerns from the United States that Huawei's smartphones and network equipment could be used by China to spy on Americans, allegations the company has repeatedly denied. A similar US ban on China's ZTE Corp had almost crippled business for the smaller Huawei rival early last year before the curb was lifted. The US Commerce Department said on Friday it may soon scale back restrictions on Huawei. Ren said the company was prepared for such a step and that Huawei would be "fine" even if US smartphone chipmaker Qualcomm Inc and other American suppliers would not sell chips to the company. Huawei's chip arm HiSilicon said on Friday it has long been prepared for the scenario that it could be banned from purchasing US chips and technology and is able to ensure a steady supply of most products. The Huawei founder said that the company will not be taking instructions from the US government. "We will not change our management at the request of the US or accept monitoring, as ZTE has done," he said. In January, US prosecutors unsealed an indictment accusing the Chinese company of engaging in bank fraud to obtain embargoed US goods and services in Iran and to move money out of the country via the international banking system. Ren's daughter, Huawei Chief Financial Officer Meng Wanzhou, was arrested in Canada in December in connection with the indictment. Meng, who was released on bail, remains in Vancouver and is fighting extradition. She has maintained her innocence. Ren has previously said his daughter's arrest was politically motivated.

Huawei founder says growth 'may slow, but only slightly' after US restrictions

IndiGo's Cheif Executive said on Saturday that one of its co-founders has no plans to take control of the carrier amid reports of difference between the two co-founders, reported news agency Reuters.&nbsp;

The CEO's comment comes two days after parent InterGlobe Aviation Ltd shares fell 9 per cent&nbsp;over a media report that the co-founders and two largest shareholders were at odds over its expansion.&nbsp;

The shares were slightly up on Friday.

Co-founders Rahul Bhatia and Rakesh Gangwal, along with their respective families, each control stakes of slightly less than 40 per cent in the airline's holding company, giving them both a major say in its strategy and plans.

"I am authorized by Mr. Rakesh Gangwal to make the following statement on his behalf - 'I am categorically and clearly stating that there is no interest or desire whatsoever on the part of the RG Group to take control of the company'," Ronojoy Dutta, Chief Executive of IndiGo said in a statement.

IndiGo, SpiceJet and GoAir have been rushing to fill the vacuum left by the collapse of Jet Airways, once India's largest carrier, and gain control of its valuable slots.

IndiGo, launched in 2006, has a nearly 47 per cent&nbsp;market share in India. The airline has a fleet of 225 aircraft and flies to more than 70 destinations globally.

IndiGo's Cheif Executive said on Saturday that one of its co-founders has no plans to take control of the carrier amid reports of difference between the two co-founders, reported news agency Reuters.

IndiGo's Cheif Executive said on Saturday that one of its co-founders has no plans to take control of the carrier amid reports of difference between the two co-founders, reported news agency Reuters. The CEO's comment comes two days after parent InterGlobe Aviation Ltd shares fell 9 per cent over a media report that the co-founders and two largest shareholders were at odds over its expansion. The shares were slightly up on Friday. Co-founders Rahul Bhatia and Rakesh Gangwal, along with their respective families, each control stakes of slightly less than 40 per cent in the airline's holding company, giving them both a major say in its strategy and plans. "I am authorized by Mr. Rakesh Gangwal to make the following statement on his behalf - 'I am categorically and clearly stating that there is no interest or desire whatsoever on the part of the RG Group to take control of the company'," Ronojoy Dutta, Chief Executive of IndiGo said in a statement. IndiGo, SpiceJet and GoAir have been rushing to fill the vacuum left by the collapse of Jet Airways, once India's largest carrier, and gain control of its valuable slots. IndiGo, launched in 2006, has a nearly 47 per cent market share in India. The airline has a fleet of 225 aircraft and flies to more than 70 destinations globally.

IndiGo CEO says co-founder has no intention to take control of company

Cash-strapped Reliance Capital Saturday said it expects to raise Rs 10,000 crore by selling assets and cut down its debt by about 50 per cent in the current fiscal.

The company has been working diligently to ensure timely debt repayments and is regular in all its debt payments, Reliance Capital said in a statement.

The company's asset monetisation plan is on track, it said, adding, it is in the process of monetising its entire 42.88 per cent stake in Reliance Nippon Life Asset Management Limited, which at current market price is valued at over Rs 5,000 crore.

It has also announced its plans to monetise 49 per cent stake in Reliance General Insurance Company and the DRHP has recently been filed with the Securities and Exchange Board of India (Sebi).

The company is at an advanced stage of monetisation of several of its non-core investments, the statement said.

"Based on the above, the company expects to realise minimum proceeds of over Rs 10,000 crore, and sharply cut its overall debt by more than 50 per cent within the current financial year," it added.

The Anil Ambani-group company also expressed disagreement with rating agency Care, which downgraded its ratings for long-term debt programme, market-linked debentures and subordinated debt.

"There has not been any adverse change in the company's operational parameters and/or any other circumstances from the time of the last rating action, just 4 weeks ago and hence latest revision is completely unjustified," it said.&nbsp;

Cash-strapped Reliance Capital Saturday said it expects to raise Rs 10,000 crore by selling assets and cut down its debt by about 50 per cent in the current fiscal.

Cash-strapped Reliance Capital Saturday said it expects to raise Rs 10,000 crore by selling assets and cut down its debt by about 50 per cent in the current fiscal. The company has been working diligently to ensure timely debt repayments and is regular in all its debt payments, Reliance Capital said in a statement. The company's asset monetisation plan is on track, it said, adding, it is in the process of monetising its entire 42.88 per cent stake in Reliance Nippon Life Asset Management Limited, which at current market price is valued at over Rs 5,000 crore. It has also announced its plans to monetise 49 per cent stake in Reliance General Insurance Company and the DRHP has recently been filed with the Securities and Exchange Board of India (Sebi). The company is at an advanced stage of monetisation of several of its non-core investments, the statement said. "Based on the above, the company expects to realise minimum proceeds of over Rs 10,000 crore, and sharply cut its overall debt by more than 50 per cent within the current financial year," it added. The Anil Ambani-group company also expressed disagreement with rating agency Care, which downgraded its ratings for long-term debt programme, market-linked debentures and subordinated debt. "There has not been any adverse change in the company's operational parameters and/or any other circumstances from the time of the last rating action, just 4 weeks ago and hence latest revision is completely unjustified," it said.

Reliance Capital to raise Rs 10,000 crore in current fiscal by selling assets

Asian shares suffered a fresh bout of the shakes on Friday as tough words on trade from China's media drowned out upbeat news on the US economy and corporate earnings.

Shanghai stocks led the way into the red amid the growing fallout from President Donald Trump's move to block China's Huawei Technologies from buying vital American technology.

The sense of foreboding grew as the Communist Party's People's Daily used a frontpage commentary to evoke the patriotic spirit of past wars, saying the trade war would never bring China down.

"It is hard to get too excited as the news flows in the trade front points to an escalation rather than ease in tensions," said Rodrigo Catril, senior FX strategist at National Australia Bank.

"Many commentators are suggesting the decision on Huawei and other Chinese telecos effectively means the President has taken the 'nuclear option' and it has now moved towards a 'fully-fledged' tech war with China."

Shanghai blue chips fell 2.1 per cent, while the offshore yuan eased past 6.9400 per dollar for the first time since November, 2018.

MSCI's broadest index of Asia-Pacific shares outside Japan lost early gains to fall 0.7 per cent, leaving it at 15-week lows and down 2.6 per cent for the week.

Japan's Nikkei did manage to bounce 0.9 per cent, while the main Australian index climbed to an 11-year peak as higher commodity prices boosted miners.

But E-Mini futures for the S&amp;P 500 shed 0.36% and European stock futures pointed to opening losses.

Sentiment had been briefly soothed overnight by better US economic news, with US housing starts surprisingly strong and a welcome pickup in the Philadelphia Federal Reserve's manufacturing survey.

Upbeat results from Walmart burnished the outlook for retail spending, though the giant chain also warned that tariffs would raise prices for US consumers.

As the earnings season winds down, of the 457 S&amp;P 500 companies reporting about 75% have beaten profit expectations, according to Refinitiv data.

The Dow ended Thursday with gains of 0.84 per cent, while the S&amp;P 500 added 0.89 per cent and the Nasdaq 0.97 per cent.

Pound ground down

The chillier tone in Asia helped Treasuries recoup early losses as the session wore on, with the 10-year futures contract firming 7 ticks.

The US dollar lost a little of its shine on the safe-haven yen to stand at 109.64 from a top of 110.03. Against a basket of currencies, it was a shade softer at 96.824.

Yet the euro could make no ground and held at $1.1173, down 0.5% for the week so far.

Sterling was one of the worst performers as Britain's Prime Minister Theresa May battled to keep her Brexit deal, and her premiership, intact amid growing fears of a disorderly departure from the European Union. [GBP/]

The pound touched a three-month low of $1.2783 and was down a hefty 1.6% for the week so far.

Also under pressure was the Australian dollar, losing 1.5 per cent&nbsp;for the week to $0.6890 as investors piled into bets that interest rates would be cut in June.

The main mover in Asia was cyber currency Bitcoin which tumbled over 20 per cent&nbsp;at one stage for no discernible reason. It was last down 7 per cent.

In commodity markets, spot gold steadied at $1,287.34 per ounce as risk sentiment soured.

Oil futures firmed into a fourth session as rising tensions in the Middle East stoked fears of potential supply disruptions.&nbsp;

US&nbsp;crude was last up 14 cents at $63.01 a barrel, while Brent crude futures rose 12 cents to $72.74.

Asian shares suffered a fresh bout of the shakes on Friday as tough words on trade from China's media drowned out upbeat news on the US economy and corporate earnings.

Asian shares suffered a fresh bout of the shakes on Friday as tough words on trade from China's media drowned out upbeat news on the US economy and corporate earnings. Shanghai stocks led the way into the red amid the growing fallout from President Donald Trump's move to block China's Huawei Technologies from buying vital American technology. The sense of foreboding grew as the Communist Party's People's Daily used a frontpage commentary to evoke the patriotic spirit of past wars, saying the trade war would never bring China down. "It is hard to get too excited as the news flows in the trade front points to an escalation rather than ease in tensions," said Rodrigo Catril, senior FX strategist at National Australia Bank. "Many commentators are suggesting the decision on Huawei and other Chinese telecos effectively means the President has taken the 'nuclear option' and it has now moved towards a 'fully-fledged' tech war with China." Shanghai blue chips fell 2.1 per cent, while the offshore yuan eased past 6.9400 per dollar for the first time since November, 2018. MSCI's broadest index of Asia-Pacific shares outside Japan lost early gains to fall 0.7 per cent, leaving it at 15-week lows and down 2.6 per cent for the week. Japan's Nikkei did manage to bounce 0.9 per cent, while the main Australian index climbed to an 11-year peak as higher commodity prices boosted miners. But E-Mini futures for the S&P 500 shed 0.36% and European stock futures pointed to opening losses. Sentiment had been briefly soothed overnight by better US economic news, with US housing starts surprisingly strong and a welcome pickup in the Philadelphia Federal Reserve's manufacturing survey. Upbeat results from Walmart burnished the outlook for retail spending, though the giant chain also warned that tariffs would raise prices for US consumers. As the earnings season winds down, of the 457 S&P 500 companies reporting about 75% have beaten profit expectations, according to Refinitiv data. The Dow ended Thursday with gains of 0.84 per cent, while the S&P 500 added 0.89 per cent and the Nasdaq 0.97 per cent. Pound ground down The chillier tone in Asia helped Treasuries recoup early losses as the session wore on, with the 10-year futures contract firming 7 ticks. The US dollar lost a little of its shine on the safe-haven yen to stand at 109.64 from a top of 110.03. Against a basket of currencies, it was a shade softer at 96.824. Yet the euro could make no ground and held at $1.1173, down 0.5% for the week so far. Sterling was one of the worst performers as Britain's Prime Minister Theresa May battled to keep her Brexit deal, and her premiership, intact amid growing fears of a disorderly departure from the European Union. [GBP/] The pound touched a three-month low of $1.2783 and was down a hefty 1.6% for the week so far. Also under pressure was the Australian dollar, losing 1.5 per cent for the week to $0.6890 as investors piled into bets that interest rates would be cut in June. The main mover in Asia was cyber currency Bitcoin which tumbled over 20 per cent at one stage for no discernible reason. It was last down 7 per cent. In commodity markets, spot gold steadied at $1,287.34 per ounce as risk sentiment soured. Oil futures firmed into a fourth session as rising tensions in the Middle East stoked fears of potential supply disruptions. US crude was last up 14 cents at $63.01 a barrel, while Brent crude futures rose 12 cents to $72.74.

Global Markets: Asia shares shudder as Beijing talks tough

Microsoft Corp and Sony Corp on Thursday said they struck a strategic partnership in which Sony would use Microsoft's cloud for streaming games and media and the two would work together to develop image sensors.

The deal is in its early stages, with many specifics yet to be determined. But the owners of two major consumer interactive entertainment franchises - Microsoft's Xbox platform and Sony's PlayStation - would collaborate to stream games and content to consumers and offer game makers new development tools.

"For many years, Microsoft has been a key business partner for us, though of course the two companies have also been competing in some areas," Sony Chief Executive Kenichiro Yoshida said in a statement. "I believe that our joint development of future cloud solutions will contribute greatly to the advancement of interactive content."

Sony shares jumped nearly 11 per cent as Asian markets opened. Microsoft's stock closed up 2 per cent on Thursday.

Sony's deal with Microsoft comes at a time when the Japanese firm's gaming business is losing some steam as its PlayStation 4 (PS4) console nears the end of its life.

Analysts widely expect Sony to launch a next-generation console in 2020 to replace the five-year-old PS4, but for this year at least Sony has flagged a drop in profit.

For Microsoft, the deal bolsters its Azure cloud computing business, which helped push its market value past $1 trillion last month. It also helps the Redmond, Washington-based company counter cloud-market leader Amazon.com Inc's Amazon Web Services.

Amazon has also jumped into the gaming market, offering game makers new technology tools, and with its nearly $1 billion acquisition of Twitch, a major destination for gamers to watch other players competing in the e-sports market.

Japan's Sony is also a major supplier of camera chips for smartphones and other devices.

Sony and Microsoft said they will potentially develop new image sensor chips that use Microsoft's artificial intelligence (AI) technology for business customers. The two companies did not specify how the chips would be used.

Intelligent cameras are currently being used in applications such as spotting defective items coming off manufacturing lines with greater accuracy than human inspectors.

Sony and Microsoft said they would explore how to use Microsoft's AI tools in Sony's consumer products "to provide highly intuitive and user-friendly AI experiences."

Microsoft's technology for tasks like recognizing images and understanding human speech is widely believed to be competitive with better-known rivals such Alphabet Inc's Google, but its focus on business customers has left it fewer outlets for technology that consumers touch.&nbsp;

Sony, by contrast, makes a wide range of televisions, phones and other consumer devices.

"Sony has always been a leader in both entertainment and technology, and the collaboration we announced today builds on this history of innovation," Microsoft Chief Executive Satya Nadella said in a statement.

Microsoft Corp and Sony Corp on Thursday said they struck a strategic partnership in which Sony would use Microsoft's cloud for streaming games and media and the two would work together to develop image sensors.

Microsoft Corp and Sony Corp on Thursday said they struck a strategic partnership in which Sony would use Microsoft's cloud for streaming games and media and the two would work together to develop image sensors. The deal is in its early stages, with many specifics yet to be determined. But the owners of two major consumer interactive entertainment franchises - Microsoft's Xbox platform and Sony's PlayStation - would collaborate to stream games and content to consumers and offer game makers new development tools. "For many years, Microsoft has been a key business partner for us, though of course the two companies have also been competing in some areas," Sony Chief Executive Kenichiro Yoshida said in a statement. "I believe that our joint development of future cloud solutions will contribute greatly to the advancement of interactive content." Sony shares jumped nearly 11 per cent as Asian markets opened. Microsoft's stock closed up 2 per cent on Thursday. Sony's deal with Microsoft comes at a time when the Japanese firm's gaming business is losing some steam as its PlayStation 4 (PS4) console nears the end of its life. Analysts widely expect Sony to launch a next-generation console in 2020 to replace the five-year-old PS4, but for this year at least Sony has flagged a drop in profit. For Microsoft, the deal bolsters its Azure cloud computing business, which helped push its market value past $1 trillion last month. It also helps the Redmond, Washington-based company counter cloud-market leader Amazon.com Inc's Amazon Web Services. Amazon has also jumped into the gaming market, offering game makers new technology tools, and with its nearly $1 billion acquisition of Twitch, a major destination for gamers to watch other players competing in the e-sports market. Japan's Sony is also a major supplier of camera chips for smartphones and other devices. Sony and Microsoft said they will potentially develop new image sensor chips that use Microsoft's artificial intelligence (AI) technology for business customers. The two companies did not specify how the chips would be used. Intelligent cameras are currently being used in applications such as spotting defective items coming off manufacturing lines with greater accuracy than human inspectors. Sony and Microsoft said they would explore how to use Microsoft's AI tools in Sony's consumer products "to provide highly intuitive and user-friendly AI experiences." Microsoft's technology for tasks like recognizing images and understanding human speech is widely believed to be competitive with better-known rivals such Alphabet Inc's Google, but its focus on business customers has left it fewer outlets for technology that consumers touch. Sony, by contrast, makes a wide range of televisions, phones and other consumer devices. "Sony has always been a leader in both entertainment and technology, and the collaboration we announced today builds on this history of innovation," Microsoft Chief Executive Satya Nadella said in a statement.

Microsoft, Sony partner on streaming games, chips and Artificial Intelligence

The rupee declined by 29 paise to 70.32 against the US dollar in opening trade Friday as crude oil prices firmed up and US-China trade related concerns weighed on investor community.

Forex traders said, besides the US-China trade concerns, foreign fund outflows also kept pressure on the Indian rupee.

The rupee opened weak at 70.22 at the interbank forex market and then fell further to 70.32, down 29 paise over its last close.

The rupee had settled at 70.03 against the US dollar on Thursday.

However, a positive opening in domestic equities supported the local unit and restricted the fall.

Brent crude futures, the global oil benchmark, rose 0.30 per cent to US $72.84 per barrel.

Foreign institutional investors remained net sellers in the capital markets, pulling out Rs 953.23 crore Thursday, as per provisional data.

Domestic bourses opened on a positive note Friday with benchmark indices Sensex trading 192.61 points up at 37,586.09 and Nifty rising 51.25 points to 11,308.35.

Meanwhile, on the global front, China on Thursday warned of retaliation against US President Donald Trump's order that effectively barred Chinese telecom giant Huawei from the US market, saying Beijing will take "necessary measures" to safeguard rights and interest of its business firms.

The US and China are already locked in a trade battle that has seen mounting tariffs, sparking fears the conflict will damage the global economy.&nbsp;

The rupee declined by 29 paise to 70.32 against the US dollar in opening trade Friday as crude oil prices firmed up and US-China trade related concerns weighed on investor community.

The rupee declined by 29 paise to 70.32 against the US dollar in opening trade Friday as crude oil prices firmed up and US-China trade related concerns weighed on investor community. Forex traders said, besides the US-China trade concerns, foreign fund outflows also kept pressure on the Indian rupee. The rupee opened weak at 70.22 at the interbank forex market and then fell further to 70.32, down 29 paise over its last close. The rupee had settled at 70.03 against the US dollar on Thursday. However, a positive opening in domestic equities supported the local unit and restricted the fall. Brent crude futures, the global oil benchmark, rose 0.30 per cent to US $72.84 per barrel. Foreign institutional investors remained net sellers in the capital markets, pulling out Rs 953.23 crore Thursday, as per provisional data. Domestic bourses opened on a positive note Friday with benchmark indices Sensex trading 192.61 points up at 37,586.09 and Nifty rising 51.25 points to 11,308.35. Meanwhile, on the global front, China on Thursday warned of retaliation against US President Donald Trump's order that effectively barred Chinese telecom giant Huawei from the US market, saying Beijing will take "necessary measures" to safeguard rights and interest of its business firms. The US and China are already locked in a trade battle that has seen mounting tariffs, sparking fears the conflict will damage the global economy.

Rupee slips 29 paise to 70.32 vs US dollar in early trade

The benchmark BSE Sensex jumped over 200 points and the NSE Nifty reclaimed the 11,300 level in early trade Friday amid value-buying in banking, IT and metal stocks.

The 30-share index was trading 201.24 points, or 0.54 per cent, higher at 37,594.72. The broader NSE Nifty was also trading 57.20 points, or 0.51 per cent, up at 11,314.30.

In the previous session on Thursday, the BSE bourse closed 278.60 points, or 0.75 per cent, higher at 37,393.48; and the Nifty rose 100.10 points, or 0.90 per cent, to settle at 11,257.10.

Top gainers in the Sensex pack include Yes Bank, Bajaj Finance, Coal India, HDFC, M&amp;M, IndusInd Bank, HUL, TCS and Maruti, rising up to 3.96 per cent. 
On the other hand, Tata Motors, Infosys, NTPC, Tata Steel, ONGC and HCL Tech fell up to 0.91 per cent.

According to traders, value buying in recently battered stocks lifted key indices.

However, volatility may increase ahead of election results, amid continued tensions between the US and China and sustained foreign fund outflow, experts said.

Foreign institutional investors sold equity worth Rs 953.23 crore on Thursday, while domestic institutional investors purchased shares to the tune of Rs 948.00 crore, provisional data available with stock exchanges showed.

Bourses in China, Japan and Korea were trading on a mixed note in their respective early sessions; while, Wall Street indices ended in the green on Thursday.

On the currency front, rupee depreciated 16 paise to 70.20 against the US dollar in early trade.

Brent crude futures, the global oil benchmark, were trading 0.30 per cent higher at USD 72.84 per barrel.

The benchmark BSE Sensex jumped over 200 points and the NSE Nifty reclaimed the 11,300 level in early trade Friday amid value-buying in banking, IT and metal stocks.

The benchmark BSE Sensex jumped over 200 points and the NSE Nifty reclaimed the 11,300 level in early trade Friday amid value-buying in banking, IT and metal stocks. The 30-share index was trading 201.24 points, or 0.54 per cent, higher at 37,594.72. The broader NSE Nifty was also trading 57.20 points, or 0.51 per cent, up at 11,314.30. In the previous session on Thursday, the BSE bourse closed 278.60 points, or 0.75 per cent, higher at 37,393.48; and the Nifty rose 100.10 points, or 0.90 per cent, to settle at 11,257.10. Top gainers in the Sensex pack include Yes Bank, Bajaj Finance, Coal India, HDFC, M&M, IndusInd Bank, HUL, TCS and Maruti, rising up to 3.96 per cent. On the other hand, Tata Motors, Infosys, NTPC, Tata Steel, ONGC and HCL Tech fell up to 0.91 per cent. According to traders, value buying in recently battered stocks lifted key indices. However, volatility may increase ahead of election results, amid continued tensions between the US and China and sustained foreign fund outflow, experts said. Foreign institutional investors sold equity worth Rs 953.23 crore on Thursday, while domestic institutional investors purchased shares to the tune of Rs 948.00 crore, provisional data available with stock exchanges showed. Bourses in China, Japan and Korea were trading on a mixed note in their respective early sessions; while, Wall Street indices ended in the green on Thursday. On the currency front, rupee depreciated 16 paise to 70.20 against the US dollar in early trade. Brent crude futures, the global oil benchmark, were trading 0.30 per cent higher at USD 72.84 per barrel.

Sensex rises over 200 points; Nifty reclaims 11,300

Over the last month the US-China trade war has boosted the risk of a US recession, say a strong majority of economists polled by Reuters, who now put the chances of that happening in the next two years at 40%.

That is up from a median 35% in last month's poll, the first time it had dipped slightly from where it held since December last year, before a crushing sell-off on Wall Street as 2018 came to a close, in part because of those worries.

US President Donald Trump has dismissed the ongoing trade war with China as a "little squabble," but there are clear signs of the conflict already having an impact on the economy, and the stock market has become jittery again.

"I have a hard time thinking of a scenario in which a further escalation of the trade tension we currently have would not make recession risk higher," said Michael Hanson, head of global macro strategy at TD Securities.

"We are already in a situation where the level of tariffs that are either imposed or threatened to be imposed over the next several weeks are really quite high ... and a move to basically putting tariffs of 25% on everything we import from China is a very real drag in the economy," said Hanson.

While only a single-digit percentage of respondents say a US&nbsp;recession is likely in the coming year, more than one-quarter of economists polled see a greater than 50% probability of recession within two years.

The most pessimistic call for the probability of a recession in one year also has crept up, from 60% to 70%.

The US&nbsp;economy is forecast to have already lost considerable momentum, slowing to 2.0% in the current quarter from 3.2% in the first three months of the year, according to median forecasts from the latest monthly poll of 120 economists.

That forecast for April-June is a sharp downgrade from 2.5% in last month's poll, owing in part to the unexpectedly strong figure reported for January-March. Growth is forecast to slow to 1.8%, below trend, by the fourth quarter of 2020.

The impact of the trade war is already being felt on the economy, with retail giants like Walmart Inc warning shoppers that prices will rise due to higher tariffs on Chinese imports.

Nearly 75% of economists or 52 of 70, who answered an additional question on what the US-China trade war developments this month had done to the risks of a US&nbsp;recession said they had increased.

China is trying to steer its economy away from exporting cheap goods and more toward domestic consumption. But the United States, already a very consumer-reliant economy, imports hundreds of billions of dollars worth of goods from China, which the Trump administration is hitting with tariffs.

Very few economists believe this will do anything but damage the economy.

"There actually seems to be a belief in the White House that trade wars are both good and winnable. Delusion creates massive risks," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania.

With trade uncertainty abounding and increased chances of recession, the Federal Reserve is expected to hold rates at their current 2.25-2.50% until the end of next year at least.

But over half of the smaller set of economists who answered another additional question said the Fed is likely to cut rates before end-2020. Among those respondents, more than 80 per cent expect a rate cut to be the central bank's next policy move.

Although Fed officials had previously played down the trade war's likely impact on the U.S. economy, they emphasized on Monday a protracted tit-for-tat battle was a different matter that might require a Fed response.

While interest rate futures are pricing in a cut as soon as October, the Reuters poll results are the latest evidence to suggest that the global policy rate cycle following the Great Recession over a decade ago is over.

Underlining a weak demand outlook, forecasts for core PCE, the Fed's preferred inflation gauge, were cut to average 1.7% from 1.9% this year and to 2.0% from 2.1% in 2020.

"If we have a recession, it will likely be caused by the Fed. We're in a chronic disinflationary environment, caused by the supply side of the equation, not the demand side," said Gary Cloud, co-chief investment officer for fixed income at FCI Advisors.

Over the last month the US-China trade war has boosted the risk of a US recession, say a strong majority of economists polled by Reuters, who now put the chances of that happening in the next two years at 40%.

Over the last month the US-China trade war has boosted the risk of a US recession, say a strong majority of economists polled by Reuters, who now put the chances of that happening in the next two years at 40%. That is up from a median 35% in last month's poll, the first time it had dipped slightly from where it held since December last year, before a crushing sell-off on Wall Street as 2018 came to a close, in part because of those worries. US President Donald Trump has dismissed the ongoing trade war with China as a "little squabble," but there are clear signs of the conflict already having an impact on the economy, and the stock market has become jittery again. "I have a hard time thinking of a scenario in which a further escalation of the trade tension we currently have would not make recession risk higher," said Michael Hanson, head of global macro strategy at TD Securities. "We are already in a situation where the level of tariffs that are either imposed or threatened to be imposed over the next several weeks are really quite high ... and a move to basically putting tariffs of 25% on everything we import from China is a very real drag in the economy," said Hanson. While only a single-digit percentage of respondents say a US recession is likely in the coming year, more than one-quarter of economists polled see a greater than 50% probability of recession within two years. The most pessimistic call for the probability of a recession in one year also has crept up, from 60% to 70%. The US economy is forecast to have already lost considerable momentum, slowing to 2.0% in the current quarter from 3.2% in the first three months of the year, according to median forecasts from the latest monthly poll of 120 economists. That forecast for April-June is a sharp downgrade from 2.5% in last month's poll, owing in part to the unexpectedly strong figure reported for January-March. Growth is forecast to slow to 1.8%, below trend, by the fourth quarter of 2020. The impact of the trade war is already being felt on the economy, with retail giants like Walmart Inc warning shoppers that prices will rise due to higher tariffs on Chinese imports. Nearly 75% of economists or 52 of 70, who answered an additional question on what the US-China trade war developments this month had done to the risks of a US recession said they had increased. China is trying to steer its economy away from exporting cheap goods and more toward domestic consumption. But the United States, already a very consumer-reliant economy, imports hundreds of billions of dollars worth of goods from China, which the Trump administration is hitting with tariffs. Very few economists believe this will do anything but damage the economy. "There actually seems to be a belief in the White House that trade wars are both good and winnable. Delusion creates massive risks," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. With trade uncertainty abounding and increased chances of recession, the Federal Reserve is expected to hold rates at their current 2.25-2.50% until the end of next year at least. But over half of the smaller set of economists who answered another additional question said the Fed is likely to cut rates before end-2020. Among those respondents, more than 80 per cent expect a rate cut to be the central bank's next policy move. Although Fed officials had previously played down the trade war's likely impact on the U.S. economy, they emphasized on Monday a protracted tit-for-tat battle was a different matter that might require a Fed response. While interest rate futures are pricing in a cut as soon as October, the Reuters poll results are the latest evidence to suggest that the global policy rate cycle following the Great Recession over a decade ago is over. Underlining a weak demand outlook, forecasts for core PCE, the Fed's preferred inflation gauge, were cut to average 1.7% from 1.9% this year and to 2.0% from 2.1% in 2020. "If we have a recession, it will likely be caused by the Fed. We're in a chronic disinflationary environment, caused by the supply side of the equation, not the demand side," said Gary Cloud, co-chief investment officer for fixed income at FCI Advisors.

US recession risk rises as US-China trade tensions heat up: Report

Oil edged higher to $73 a barrel on Friday, supported by a host of supply cuts and concern of further disruption to Middle East shipments as tensions rise, and was heading for a weekly gain.

<a href="https://www.wionews.com/world/iran-urges-china-russia-concrete-action-to-save-nuclear-deal-219407">US sanctions on Iran</a> have cut the OPEC member's crude exports further in May, adding to supply curbs resulting from an OPEC-led pact. Meanwhile, rising tension in the Middle East this week has raised a concern about additional supply disruption.

Brent crude was up 43 cents to $73.05 a barrel at 1101 GMT. The global benchmark is up about 3 per cent this week, having ended last week steady and fallen the week before. US West Texas Intermediate crude added 60 cents to $63.47.

"The Middle East is acting as a tinderbox for conflict," said Stephen Brennock of oil broker PVM. "So long as this remains the case, the energy complex will continue to be supported by bullish supply-side signals."

The mounting tension overshadowed bearish developments for oil prices this week, such as an unexpected increase in US crude inventories.

A Saudi-led military coalition in Yemen carried out several air strikes on the Houthi-held capital Sanaa on Thursday after the Iranian-aligned movement claimed responsibility for drone attacks on two Saudi oil pumping stations.

Earlier this week, staff were evacuated from the US embassy in Baghdad, while US President Donald Trump ordered the deployment of an aircraft carrier group, B-52 bombers and Patriot missiles to the Middle East.

"When tensions are this high, with the US deploying a sizable military force, even a mistake or a tactical error by Iran could ignite the Middle East powder keg," Stephen Innes, head of trading and market strategy at SPI Asset Management, told Reuters by email.

"There are lots of supply risks with tensions this high."

Besides the drop in Iranian exports, Russian shipments have been disrupted and the North Sea - home to the crude underpinning Brent futures - is seeing tighter supply due to oilfield maintenance and outages.

The market is also awaiting a decision from the Organization of the Petroleum Exporting Countries (OPEC) and other producers over whether to continue with supply cuts that have boosted prices more than 30% so far this year.

A meeting of an OPEC-led ministerial committee in Saudi Arabia this weekend will assess member states' commitment to their deal reducing oil production and may make a recommendation on whether to extend or adjust the pact.

Oil edged higher to $73 a barrel on Friday, supported by a host of supply cuts and concern of further disruption to Middle East shipments as tensions rise, and was heading for a weekly gain.

Oil edged higher to $73 a barrel on Friday, supported by a host of supply cuts and concern of further disruption to Middle East shipments as tensions rise, and was heading for a weekly gain. US sanctions on Iran have cut the OPEC member's crude exports further in May, adding to supply curbs resulting from an OPEC-led pact. Meanwhile, rising tension in the Middle East this week has raised a concern about additional supply disruption. Brent crude was up 43 cents to $73.05 a barrel at 1101 GMT. The global benchmark is up about 3 per cent this week, having ended last week steady and fallen the week before. US West Texas Intermediate crude added 60 cents to $63.47. "The Middle East is acting as a tinderbox for conflict," said Stephen Brennock of oil broker PVM. "So long as this remains the case, the energy complex will continue to be supported by bullish supply-side signals." The mounting tension overshadowed bearish developments for oil prices this week, such as an unexpected increase in US crude inventories. A Saudi-led military coalition in Yemen carried out several air strikes on the Houthi-held capital Sanaa on Thursday after the Iranian-aligned movement claimed responsibility for drone attacks on two Saudi oil pumping stations. Earlier this week, staff were evacuated from the US embassy in Baghdad, while US President Donald Trump ordered the deployment of an aircraft carrier group, B-52 bombers and Patriot missiles to the Middle East. "When tensions are this high, with the US deploying a sizable military force, even a mistake or a tactical error by Iran could ignite the Middle East powder keg," Stephen Innes, head of trading and market strategy at SPI Asset Management, told Reuters by email. "There are lots of supply risks with tensions this high." Besides the drop in Iranian exports, Russian shipments have been disrupted and the North Sea - home to the crude underpinning Brent futures - is seeing tighter supply due to oilfield maintenance and outages. The market is also awaiting a decision from the Organization of the Petroleum Exporting Countries (OPEC) and other producers over whether to continue with supply cuts that have boosted prices more than 30% so far this year. A meeting of an OPEC-led ministerial committee in Saudi Arabia this weekend will assess member states' commitment to their deal reducing oil production and may make a recommendation on whether to extend or adjust the pact.

Oil lifted to $73 by real and threatened supply cuts

The domestic stock market on Friday ended in green with BSE Sensex rallying 537.29 points to finish at 37,930.77. NSE Nifty soared 150.05 points to close at 11,407.15.&nbsp;

In early trade, Sensex jumped over 200 points while Nifty reclaimed the 11,300 level today morning.&nbsp;

The rupee depreciated 16 paise to 70.20 against the US dollar in early trade today.&nbsp;

Meanwhile, global oil benchmark Brent crude was trading 0.26 per cent higher at $72.81 per barrel.

On Thursday, Sensex closed 278.60 points higher at 37,393.48 while Nifty went up by 100.10 points to settle at 11,257.10.

The domestic stock market on Friday ended in green with BSE Sensex rallying 537.29 points to finish at 37,930.77. NSE Nifty soared 150.05 points to close at 11,407.

The domestic stock market on Friday ended in green with BSE Sensex rallying 537.29 points to finish at 37,930.77. NSE Nifty soared 150.05 points to close at 11,407.15. In early trade, Sensex jumped over 200 points while Nifty reclaimed the 11,300 level today morning. The rupee depreciated 16 paise to 70.20 against the US dollar in early trade today. Meanwhile, global oil benchmark Brent crude was trading 0.26 per cent higher at $72.81 per barrel. On Thursday, Sensex closed 278.60 points higher at 37,393.48 while Nifty went up by 100.10 points to settle at 11,257.10.

Markets close in green; Sensex surges over 500 points, Nifty settles above 11,400 

According to reports Aviation Minister is to give decision soon on India's debt-ridden Jet Airways. Watch this video to know more.

WION Wallet: Aviation Minister to give decision soon on Jet Airways

Asian shares fell on Thursday after the United States hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-US&nbsp;trade ties.

MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.2%, hovering not far off its lowest since late January.

Japan's Nikkei dropped 0.6%, with banks hurt by weak earnings, while South Korean shares also lost 0.6% and Chinese blue chips were down 0.2%.

Asian shares had steadied in early trade on news that US&nbsp;President Donald Trump was planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and weak US&nbsp;and Chinese economic data.

Bucking the downtrend, Australian stocks held steady as weaker-than-expected local job data supported expectations for a central bank rate cute.

The US&nbsp;Commerce Department said late on Wednesday it was adding Huawei Technologies Co Ltd and 70 affiliates to its "Entity List" - a move that bans the company from acquiring components and technology from US firms without government approval.

"There has been an increasing disconnect between Asian markets and US markets over the last six months," said Nick Twidale, chief operating officer at Rakuten Securities Australia in Sydney.

"US&nbsp;markets were buoyed on President Trump possibly pulling back on auto tariffs on both Europe and Japan, but really Asian markets have latched on the fact that he's not letting up in the trade war against China," he added.

On Wednesday, Wall Street shares extended a rebound, with the S&amp;P 500 gaining 0.58% and the MSCI's broadest gauge of world stocks bouncing back from a two-month low hit on Tuesday.

Also on Wednesday, less than a week after Washington slapped higher tariffs on $250 billion imports from China, US Treasury Secretary Steven Mnuchin said he will likely travel to Beijing soon to continue trade negotiations with Chinese counterparts.

The positive trade developments overnight lifted risk sentiment that had been dampened earlier in the session by weak economic data.

China reported surprisingly weaker growth in retail sales and industrial output for April, with overall retail sales posting the slowest increase since May 2003.

In the United States, retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, while industrial production fell 0.5% in April, the third drop this year.

Pricing in a rate cut

Weak data underpinned US bond prices, pushing down yields further.

The 10-year US Treasuries yield eased to 2.371%, near its 15-month low of 2.340% touched on March 28.

The two-year notes yield hit a 15-month low of 2.139% on Wednesday and last stood at 2.1616%.

Fed funds rate futures are fully pricing in a rate cut by the end of this year and more than a 50 per cent chance of a move by September.

"The markets are inching step by step in pricing in a rate cut. That is a sea change from a year ago when the consensus was three to four rate hikes a year," said Akira Takei, bond fund manager at Asset Management One.

In the foreign exchange market, the Australian dollar brushed its lowest since early January after a drop in the country's full-time jobs supported views the central bank may be forced to lower rates soon to stimulate the economy.

"Domestic data is starting to come off. We've got increased global concerns as well," said Rakuten's Twidale.

"Expectations now will be rising that we are to get a cut in June or in the (Reserve Bank of Australia's) meeting after that."

Against the yen, the dollar dipped a tenth of a per cent to 109.49.

The euro rose 0.1% to $1.1208.

Oil prices gained on the prospect of mounting tensions in the Middle East hitting global supplies despite an unexpected build in US&nbsp;crude inventories.

Brent crude rose 0.5% to $72.10 a barrel, while US West Texas Intermediate (WTI) crude fetched $62.35, also half a per cent higher.

The United States pulled staff from its embassy in Baghdad on Wednesday out of apparent concern about perceived threats from Iran.

The sabotage of the tankers, for which no one has claimed responsibility, and Saudi Arabia's announcement on Tuesday that armed drones hit two of its oil pumping stations have raised concerns Washington and Tehran may be inching toward conflict.

Asian shares fell on Thursday after the United States hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-US trade ties. MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.

Asian shares fell on Thursday after the United States hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-US trade ties. MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.2%, hovering not far off its lowest since late January. Japan's Nikkei dropped 0.6%, with banks hurt by weak earnings, while South Korean shares also lost 0.6% and Chinese blue chips were down 0.2%. Asian shares had steadied in early trade on news that US President Donald Trump was planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and weak US and Chinese economic data. Bucking the downtrend, Australian stocks held steady as weaker-than-expected local job data supported expectations for a central bank rate cute. The US Commerce Department said late on Wednesday it was adding Huawei Technologies Co Ltd and 70 affiliates to its "Entity List" - a move that bans the company from acquiring components and technology from US firms without government approval. "There has been an increasing disconnect between Asian markets and US markets over the last six months," said Nick Twidale, chief operating officer at Rakuten Securities Australia in Sydney. "US markets were buoyed on President Trump possibly pulling back on auto tariffs on both Europe and Japan, but really Asian markets have latched on the fact that he's not letting up in the trade war against China," he added. On Wednesday, Wall Street shares extended a rebound, with the S&P 500 gaining 0.58% and the MSCI's broadest gauge of world stocks bouncing back from a two-month low hit on Tuesday. Also on Wednesday, less than a week after Washington slapped higher tariffs on $250 billion imports from China, US Treasury Secretary Steven Mnuchin said he will likely travel to Beijing soon to continue trade negotiations with Chinese counterparts. The positive trade developments overnight lifted risk sentiment that had been dampened earlier in the session by weak economic data. China reported surprisingly weaker growth in retail sales and industrial output for April, with overall retail sales posting the slowest increase since May 2003. In the United States, retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, while industrial production fell 0.5% in April, the third drop this year. Pricing in a rate cut Weak data underpinned US bond prices, pushing down yields further. The 10-year US Treasuries yield eased to 2.371%, near its 15-month low of 2.340% touched on March 28. The two-year notes yield hit a 15-month low of 2.139% on Wednesday and last stood at 2.1616%. Fed funds rate futures are fully pricing in a rate cut by the end of this year and more than a 50 per cent chance of a move by September. "The markets are inching step by step in pricing in a rate cut. That is a sea change from a year ago when the consensus was three to four rate hikes a year," said Akira Takei, bond fund manager at Asset Management One. In the foreign exchange market, the Australian dollar brushed its lowest since early January after a drop in the country's full-time jobs supported views the central bank may be forced to lower rates soon to stimulate the economy. "Domestic data is starting to come off. We've got increased global concerns as well," said Rakuten's Twidale. "Expectations now will be rising that we are to get a cut in June or in the (Reserve Bank of Australia's) meeting after that." Against the yen, the dollar dipped a tenth of a per cent to 109.49. The euro rose 0.1% to $1.1208. Oil prices gained on the prospect of mounting tensions in the Middle East hitting global supplies despite an unexpected build in US crude inventories. Brent crude rose 0.5% to $72.10 a barrel, while US West Texas Intermediate (WTI) crude fetched $62.35, also half a per cent higher. The United States pulled staff from its embassy in Baghdad on Wednesday out of apparent concern about perceived threats from Iran. The sabotage of the tankers, for which no one has claimed responsibility, and Saudi Arabia's announcement on Tuesday that armed drones hit two of its oil pumping stations have raised concerns Washington and Tehran may be inching toward conflict.

Global Markets: Asian shares fall after US blacklists China's Huawei

Domestic equity benchmarks BSE Sensex and NSE Nifty started on a tepid note Thursday tracking mixed cues from global markets amid sustained foreign fund outflows.

The 30-share index was trading 8.25 points, or 0.02 per cent, higher at 37,123.13. The broader NSE Nifty was also trading 2.05 points, or 0.02 per cent, up at 11,159.05.

In the previous session on Wednesday, the BSE bourse settled 203.65 points, or 0.55 per cent, lower at 37,114.88; and the Nifty shed 65.05 points, or 0.58 per cent, to settle at 11,157.

Top gainers in the Sensex pack include Tata Motors, Vedanta, Infosys, Bajaj Finance, PowerGrid, Yes Bank, Axis Bank, Reliance Industries, ICICI bank, NTPC, Tata Steel, Hero MotoCorp, HUL, HCL Tech and Asian Paints, rising up to 3.39 per cent.

On the other hand, Kotak Bank, M&amp;M, L&amp;T, IndusInd Bank, Coal India ITC and HDFC twins fell up to 0.71 per cent.

According to traders, sustained foreign fund outflow kept weighing on investor sentiment here.

Foreign institutional investors (FIIs) sold equity worth Rs 1,142.44 crore on Wednesday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 671.77 crore, provisional data available with stock exchanges showed.

A mixed trend in global equities too kept market mood subdued on Dalal Street, traders said.

Bourses in China, Japan and Korea were trading on a mixed note in their respective early sessions; while, Wall Street indices ended in the green on Wednesday.

On the currency front, rupee appreciated marginally to 70.31 against the US dollar in early trade.

Brent crude futures, the global oil benchmark, were trading 0.56 per cent higher at USD 72.17 per barrel.

Domestic equity benchmarks BSE Sensex and NSE Nifty started on a tepid note Thursday tracking mixed cues from global markets amid sustained foreign fund outflows.

Domestic equity benchmarks BSE Sensex and NSE Nifty started on a tepid note Thursday tracking mixed cues from global markets amid sustained foreign fund outflows. The 30-share index was trading 8.25 points, or 0.02 per cent, higher at 37,123.13. The broader NSE Nifty was also trading 2.05 points, or 0.02 per cent, up at 11,159.05. In the previous session on Wednesday, the BSE bourse settled 203.65 points, or 0.55 per cent, lower at 37,114.88; and the Nifty shed 65.05 points, or 0.58 per cent, to settle at 11,157. Top gainers in the Sensex pack include Tata Motors, Vedanta, Infosys, Bajaj Finance, PowerGrid, Yes Bank, Axis Bank, Reliance Industries, ICICI bank, NTPC, Tata Steel, Hero MotoCorp, HUL, HCL Tech and Asian Paints, rising up to 3.39 per cent. On the other hand, Kotak Bank, M&M, L&T, IndusInd Bank, Coal India ITC and HDFC twins fell up to 0.71 per cent. According to traders, sustained foreign fund outflow kept weighing on investor sentiment here. Foreign institutional investors (FIIs) sold equity worth Rs 1,142.44 crore on Wednesday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 671.77 crore, provisional data available with stock exchanges showed. A mixed trend in global equities too kept market mood subdued on Dalal Street, traders said. Bourses in China, Japan and Korea were trading on a mixed note in their respective early sessions; while, Wall Street indices ended in the green on Wednesday. On the currency front, rupee appreciated marginally to 70.31 against the US dollar in early trade. Brent crude futures, the global oil benchmark, were trading 0.56 per cent higher at USD 72.17 per barrel.

Sensex, Nifty start on a tepid note