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The pound retreated Thursday awaiting yet another Brexit vote, after the UK currency struck multi-month highs versus the dollar and euro thanks to British MPs ruling out a no-deal departure from the European Union.&nbsp;

London's benchmark FTSE 100 index climbed, boosted by the pound's retreat helping to lift share prices of multinationals.

"The pound has pulled away from its multi-month highs against the dollar and euro reached yesterday after the UK parliament voted against leaving the EU without a deal," noted Dean Popplewell, analyst at Oanda trading group.

Attention now turns to Thursday's vote by British MPs on whether to ask the EU to approve a Brexit delay.

It comes amid plans by Prime Minister Theresa May to ask lawmakers again to back her twice-defeated divorce deal next week.

Market focus was also on China, with Shanghai's stock market closing down 1.2 per cent after figures showed the country's factory output grew slower than forecast in the first two months of the year.

Chinese retail sales and investment were broadly in line with expectations.

The tepid readings highlighted weakness in the world's number two economy and reinforced the need for measures by the Chinese government to kickstart growth as the global economy stutters and the US trade war drags on.

Eurozone stock markets were firmer in mid-afternoon, with the CAC-40 index in Paris setting a new high for 2019.

Wall Street had closed higher Wednesday after data showed a pick-up in the US manufacturing sector, was little changed shortly after the opening bell in New York.

Oil prices rose after OPEC, citing secondary sources, said that the cartel's production fell again in February.

A production drop in crisis-ridden Venezuela accounted for more than half of the slowdown, it said in a monthly report.

The pound retreated Thursday awaiting yet another Brexit vote, after the UK currency struck multi-month highs versus the dollar and euro thanks to British MPs ruling out a no-deal departure from the European Union.

The pound retreated Thursday awaiting yet another Brexit vote, after the UK currency struck multi-month highs versus the dollar and euro thanks to British MPs ruling out a no-deal departure from the European Union. London's benchmark FTSE 100 index climbed, boosted by the pound's retreat helping to lift share prices of multinationals. "The pound has pulled away from its multi-month highs against the dollar and euro reached yesterday after the UK parliament voted against leaving the EU without a deal," noted Dean Popplewell, analyst at Oanda trading group. Attention now turns to Thursday's vote by British MPs on whether to ask the EU to approve a Brexit delay. It comes amid plans by Prime Minister Theresa May to ask lawmakers again to back her twice-defeated divorce deal next week. Market focus was also on China, with Shanghai's stock market closing down 1.2 per cent after figures showed the country's factory output grew slower than forecast in the first two months of the year. Chinese retail sales and investment were broadly in line with expectations. The tepid readings highlighted weakness in the world's number two economy and reinforced the need for measures by the Chinese government to kickstart growth as the global economy stutters and the US trade war drags on. Eurozone stock markets were firmer in mid-afternoon, with the CAC-40 index in Paris setting a new high for 2019. Wall Street had closed higher Wednesday after data showed a pick-up in the US manufacturing sector, was little changed shortly after the opening bell in New York. Oil prices rose after OPEC, citing secondary sources, said that the cartel's production fell again in February. A production drop in crisis-ridden Venezuela accounted for more than half of the slowdown, it said in a monthly report.

Pound drops after Brexit-fuelled highs

Stock markets closed with marginal gains in a volatile trade Thursday as investors booked profits at higher levels amid mixed global cues.

After rising over 150 points in early trade, the benchmark BSE Sensex ended up by 2.72 points, or 0.01 per cent, at 37,754.89, extending gains to the fourth session.&nbsp;

The broader NSE Nifty closed with gains of 1.55 points, or 0.01 per cent, at 11,343.25.

Among the top gainers in the Sensex pack, NTPC, IndusInd Bank, Sun Pharma, Yes Bank, Coal India, ONGC, Bharti Airtel, Vedanta, Tata Steel and Kotak Bank rose up to 3.53 per cent.

On the other hand, HCL Tech, Hero MotoCorp, ICICI Bank, Tata Motors, PowerGrid, TCS, SBI and RIL were among the top losers, falling up to 2.16 per cent.

Sectorally, the BSE realty, metal, telecom and healthcare indices ended the day in the green while IT, auto and power indices settled in the red. 
Investors booked profits in recent gainers, weakening benchmark indices, traders said.&nbsp;

Strengthening gains, the rupee Thursday further appreciated marginally to 69.51 against the US dollar intra-day.

On a net basis, foreign institutional investors (FIIs) bought shares worth Rs 2,722.28 crore on Wednesday while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,508.14 crore, provisional data available with BSE showed.

Elsewhere in Asia, Hong Kong's Hang Seng rose 0.15 per cent, Korea's Kospi was up 0.34 per cent, while Shanghai Composite Index fell 1.20 per cent, and Japan's Nikkei ended 0.01 per cent lower.

Similarly, in the Eurozone, Frankfurt's DAX gained 0.43 per cent. Paris CAC 40 rose 0.69 per cent and London's FTSE was up 0.46 per cent in early deals.

Global crude benchmark Brent crude futures rose 0.41 per cent to USD 67.83 per barrel.&nbsp;

Stock markets closed with marginal gains in a volatile trade Thursday as investors booked profits at higher levels amid mixed global cues. After rising over 150 points in early trade, the benchmark BSE Sensex ended up by 2.

Stock markets closed with marginal gains in a volatile trade Thursday as investors booked profits at higher levels amid mixed global cues. After rising over 150 points in early trade, the benchmark BSE Sensex ended up by 2.72 points, or 0.01 per cent, at 37,754.89, extending gains to the fourth session. The broader NSE Nifty closed with gains of 1.55 points, or 0.01 per cent, at 11,343.25. Among the top gainers in the Sensex pack, NTPC, IndusInd Bank, Sun Pharma, Yes Bank, Coal India, ONGC, Bharti Airtel, Vedanta, Tata Steel and Kotak Bank rose up to 3.53 per cent. On the other hand, HCL Tech, Hero MotoCorp, ICICI Bank, Tata Motors, PowerGrid, TCS, SBI and RIL were among the top losers, falling up to 2.16 per cent. Sectorally, the BSE realty, metal, telecom and healthcare indices ended the day in the green while IT, auto and power indices settled in the red. Investors booked profits in recent gainers, weakening benchmark indices, traders said. Strengthening gains, the rupee Thursday further appreciated marginally to 69.51 against the US dollar intra-day. On a net basis, foreign institutional investors (FIIs) bought shares worth Rs 2,722.28 crore on Wednesday while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,508.14 crore, provisional data available with BSE showed. Elsewhere in Asia, Hong Kong's Hang Seng rose 0.15 per cent, Korea's Kospi was up 0.34 per cent, while Shanghai Composite Index fell 1.20 per cent, and Japan's Nikkei ended 0.01 per cent lower. Similarly, in the Eurozone, Frankfurt's DAX gained 0.43 per cent. Paris CAC 40 rose 0.69 per cent and London's FTSE was up 0.46 per cent in early deals. Global crude benchmark Brent crude futures rose 0.41 per cent to USD 67.83 per barrel.

Stocks end flat on profit booking in energy, IT stocks

Growth in <a href="https://www.wionews.com/business-economy/chinas-industrial-output-grows-in-january-february-35789">China</a>'s industrial output fell to a 17-year low in the first two months of the year and the jobless rate rose, pointing to further weakness in the world's second-biggest economy that is likely to trigger more support measures from Beijing.

But a mixed bag of major data on Thursday also showed property investment was picking up, while overall retail sales were sluggish but steady, suggesting the economy is not in the midst of a sharper slowdown.

<a href="https://www.wionews.com/world/three-cities-in-industrial-chinese-province-of-hebei-issue-pollution-alerts-174593">China</a> is ramping up assistance for the economy as 2019 growth looks set to plumb 29-year lows, but support measures are taking time to kick in. Most analysts believe activity may not convincingly stabilise until the middle of the year.

Premier Li Keqiang last week announced hundreds of billions of dollars in additional tax cuts and infrastructure spending, even as officials vowed they would not resort to massive stimulus like in the past, which produced swift recoveries in China and strong reflationary pulses worldwide.

"The latest data should partially ease concerns about a sharp slowdown at the start of the year. But the near-term outlook still looks downbeat," Capital Economics said in a note.

In particular, Capital Economics and others noted that infrastructure investment has not improved as much as hoped after the government began fast-tracking road and rail projects last year, raising the risk of a milder-than-expected bounce in construction when work resumes in warmer weather.

Pressured by weak demand at home and abroad, China's industrial output rose 5.3 per cent in January-February, less than expected and the slowest pace since early 2002. Growth had been expected to cool to 5.5 per cent from December's 5.7 per cent.

China combines January and February activity data in an attempt to smooth distortions created by the long Lunar New Year holidays early each year, but some analysts say a clearer picture of the economy's health may not emerge until first-quarter data is released in April.

If the seasonal distortion was removed, output rose 6.1 per cent in the two months, the National Bureau of Statistics said.

China's own official factory survey, which is seasonally adjusted, showed manufacturing output contracted in February for the first time since January 2009.

Data last week showed exports tumbled the most in three years in February, suggesting U.S. tariffs on Chinese goods and cooling global demand were taking a greater toll.

President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations.

Job shedding by export-oriented companies led to a jump in the unemployment rate last month, said Li Xiru, an official with the statistics bureau.

China's survey-based jobless rate rose to 5.3 per cent in February, from 4.9 per cent in December, though it was below the government's target of 5.5 per cent this year.

Many migrant workers also quit their jobs to go home before the holidays, Li said.

Reuters reported in January that some factories in Guangdong - China's export hub - had shut earlier than usual ahead of the holidays, and some were expected to close for good as the trade war curtailed orders.

INVESTMENT PICKING UP

Growth in fixed-asset investment, a major growth driver in the past, quickened to 6.1 per cent in the first two months of this year, slightly more than analysts had expected and edging up marginally from 5.9 per cent in 2018.

Much of the gain appeared due to a bounce in property investment, which quickened to a five-year high of 11.6 per cent, though home sales fell.

Infrastructure investment, which the government is relying on heavily to drive an economic recovery, rose 4.3 per cent on-year. But several analysts including Nomura estimated growth momentum may have eased despite Beijing's push.

Private sector fixed-asset investment also lost a step, rising 7.5 per cent versus an increase of 8.7 per cent in 2018. Private investment accounts for about 60 per cent of overall investment in China, and Beijing has spent considerable effort trying to ease financial strains on smaller, private firms.

RETAIL SALES WOBBLY

Retail sales were also marginally better than expected, with the headline figure rising 8.2 per cent in January-February from a year earlier, in line with December.

But the rate of growth remains stuck around 15-year lows, highlighting concerns that consumers are growing less confident as the economy slows.

Industry data this week showed automobile sales in China fell for the eighth consecutive month in February.

China's state planner announced measures in January to boost consumption of goods ranging from eco-friendly appliances to big-ticket items such as cars, but the size and scope of the subsidy scheme is still unclear.

Thursday's data showed sales of appliances and furniture softened considerably early in the year, possibly linked to worries about the cooling property market and a 3.6 per cent drop in home sales.

MORE SUPPORT EXPECTED

In addition to fiscal stimulus such as higher local government spending and tax cuts, more monetary policy support is also expected this year.

The People's Bank of China (PBOC) has already cut banks' reserve requirements five times over the last year, most recently in January, and more reductions are expected from the coming quarter to free up more funds for lending.

Regulators have ordered big banks to increase loans to smaller firms by more than 30 per cent this year, despite the risk of more bad loans. Total new bank lending hit a record in 3.23 trillion yuan ($481 billion) in January.

The central bank is also expected to continue to guide borrowing costs lower. But sources have told Reuters that a benchmark interest rate cut is considered a last resort if other measures fail to stem the broader economic decline.

Even with additional support, China's economic growth is still expected to cool to around 6.2 per cent this year from 6.6 per cent in 2018, according to Reuters polls.

Growth in China's industrial output fell to a 17-year low in the first two months of the year and the jobless rate rose, pointing to further weakness in the world's second-biggest economy that is likely to trigger more support measures from Beijing.

Growth in China's industrial output fell to a 17-year low in the first two months of the year and the jobless rate rose, pointing to further weakness in the world's second-biggest economy that is likely to trigger more support measures from Beijing. But a mixed bag of major data on Thursday also showed property investment was picking up, while overall retail sales were sluggish but steady, suggesting the economy is not in the midst of a sharper slowdown. China is ramping up assistance for the economy as 2019 growth looks set to plumb 29-year lows, but support measures are taking time to kick in. Most analysts believe activity may not convincingly stabilise until the middle of the year. Premier Li Keqiang last week announced hundreds of billions of dollars in additional tax cuts and infrastructure spending, even as officials vowed they would not resort to massive stimulus like in the past, which produced swift recoveries in China and strong reflationary pulses worldwide. "The latest data should partially ease concerns about a sharp slowdown at the start of the year. But the near-term outlook still looks downbeat," Capital Economics said in a note. In particular, Capital Economics and others noted that infrastructure investment has not improved as much as hoped after the government began fast-tracking road and rail projects last year, raising the risk of a milder-than-expected bounce in construction when work resumes in warmer weather. Pressured by weak demand at home and abroad, China's industrial output rose 5.3 per cent in January-February, less than expected and the slowest pace since early 2002. Growth had been expected to cool to 5.5 per cent from December's 5.7 per cent. China combines January and February activity data in an attempt to smooth distortions created by the long Lunar New Year holidays early each year, but some analysts say a clearer picture of the economy's health may not emerge until first-quarter data is released in April. If the seasonal distortion was removed, output rose 6.1 per cent in the two months, the National Bureau of Statistics said. China's own official factory survey, which is seasonally adjusted, showed manufacturing output contracted in February for the first time since January 2009. Data last week showed exports tumbled the most in three years in February, suggesting U.S. tariffs on Chinese goods and cooling global demand were taking a greater toll. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations. Job shedding by export-oriented companies led to a jump in the unemployment rate last month, said Li Xiru, an official with the statistics bureau. China's survey-based jobless rate rose to 5.3 per cent in February, from 4.9 per cent in December, though it was below the government's target of 5.5 per cent this year. Many migrant workers also quit their jobs to go home before the holidays, Li said. Reuters reported in January that some factories in Guangdong - China's export hub - had shut earlier than usual ahead of the holidays, and some were expected to close for good as the trade war curtailed orders. INVESTMENT PICKING UP Growth in fixed-asset investment, a major growth driver in the past, quickened to 6.1 per cent in the first two months of this year, slightly more than analysts had expected and edging up marginally from 5.9 per cent in 2018. Much of the gain appeared due to a bounce in property investment, which quickened to a five-year high of 11.6 per cent, though home sales fell. Infrastructure investment, which the government is relying on heavily to drive an economic recovery, rose 4.3 per cent on-year. But several analysts including Nomura estimated growth momentum may have eased despite Beijing's push. Private sector fixed-asset investment also lost a step, rising 7.5 per cent versus an increase of 8.7 per cent in 2018. Private investment accounts for about 60 per cent of overall investment in China, and Beijing has spent considerable effort trying to ease financial strains on smaller, private firms. RETAIL SALES WOBBLY Retail sales were also marginally better than expected, with the headline figure rising 8.2 per cent in January-February from a year earlier, in line with December. But the rate of growth remains stuck around 15-year lows, highlighting concerns that consumers are growing less confident as the economy slows. Industry data this week showed automobile sales in China fell for the eighth consecutive month in February. China's state planner announced measures in January to boost consumption of goods ranging from eco-friendly appliances to big-ticket items such as cars, but the size and scope of the subsidy scheme is still unclear. Thursday's data showed sales of appliances and furniture softened considerably early in the year, possibly linked to worries about the cooling property market and a 3.6 per cent drop in home sales. MORE SUPPORT EXPECTED In addition to fiscal stimulus such as higher local government spending and tax cuts, more monetary policy support is also expected this year. The People's Bank of China (PBOC) has already cut banks' reserve requirements five times over the last year, most recently in January, and more reductions are expected from the coming quarter to free up more funds for lending. Regulators have ordered big banks to increase loans to smaller firms by more than 30 per cent this year, despite the risk of more bad loans. Total new bank lending hit a record in 3.23 trillion yuan ($481 billion) in January. The central bank is also expected to continue to guide borrowing costs lower. But sources have told Reuters that a benchmark interest rate cut is considered a last resort if other measures fail to stem the broader economic decline. Even with additional support, China's economic growth is still expected to cool to around 6.2 per cent this year from 6.6 per cent in 2018, according to Reuters polls.

China industrial output growth falls to 17-year low, more support steps expected

The BSE benchmark Sensex rose over 100 points Wednesday led by gains in banking stocks amid continued buying by foreign investors.

The 30-share index was trading 134.95 points, or 0.36 per cent, higher at 37,670.61, while the 50-share NSE Nifty climbed 22.10 points, or 0.20 per cent, to 11,323.30.

In the previous session, the BSE gauge settled 481.56 points or 1.30 per cent, higher at 37,535.66. The broader Nifty closed with gains of 133.15 points, or 1.19 per cent, at 11,301.20.

Top gainers in early trade include HCL Tech, IndusInd Bank, HDFC Bank, HUL, Axis Bank, Bajaj Auto, RIL, SBI and Infosys, rising up to 2.58 per cent. 
While, ONGC, NTPC, Coal India, Vedanta and Bharti Airtel fell up to 2.17 per were trading in the red.

Domestic equities extended their gains for the third session, driven by positive factors like sustained foreign fund inflows, stronger rupee and chances of the incumbent NDA government coming for a second term, experts said.

On a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 2,477.72 crore on Tuesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 990.48 crore, provisional data available with BSE showed.

However, investors turned cautious, capping gains on bourses, after retail inflation jumped to a four-month high of 2.57 per cent in February, and industrial growth slipped to 1.7 per cent on account of manufacturing sector slowdown, traders said.

According to the data released by the Central Statistics Office (CSO), the Index of Industrial Production (IIP) expanded by just 1.7 per cent in January, significantly down from 7.5 per cent growth in the year-ago month.

Elsewhere in Asia, Hong Kong's Hang Seng fell 0.59 per cent, Shanghai Composite Index slipped 0.37 per cent, Kospi shed 0.88 per cent, and Japan's Nikkei cracked 1.35 per cent in early trade.

On Wall Street, Dow Jones Industrial Average ended 0.38 per cent lower on Tuesday.

The rupee, meanwhile, depreciated marginally against US dollar to 69.76. 
 
The benchmark Brent crude futures rose 0.24 per cent to USD 66.83 per barrel.

The BSE benchmark Sensex rose over 100 points Wednesday led by gains in banking stocks amid continued buying by foreign investors. The 30-share index was trading 134.

The BSE benchmark Sensex rose over 100 points Wednesday led by gains in banking stocks amid continued buying by foreign investors. The 30-share index was trading 134.95 points, or 0.36 per cent, higher at 37,670.61, while the 50-share NSE Nifty climbed 22.10 points, or 0.20 per cent, to 11,323.30. In the previous session, the BSE gauge settled 481.56 points or 1.30 per cent, higher at 37,535.66. The broader Nifty closed with gains of 133.15 points, or 1.19 per cent, at 11,301.20. Top gainers in early trade include HCL Tech, IndusInd Bank, HDFC Bank, HUL, Axis Bank, Bajaj Auto, RIL, SBI and Infosys, rising up to 2.58 per cent. While, ONGC, NTPC, Coal India, Vedanta and Bharti Airtel fell up to 2.17 per were trading in the red. Domestic equities extended their gains for the third session, driven by positive factors like sustained foreign fund inflows, stronger rupee and chances of the incumbent NDA government coming for a second term, experts said. On a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 2,477.72 crore on Tuesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 990.48 crore, provisional data available with BSE showed. However, investors turned cautious, capping gains on bourses, after retail inflation jumped to a four-month high of 2.57 per cent in February, and industrial growth slipped to 1.7 per cent on account of manufacturing sector slowdown, traders said. According to the data released by the Central Statistics Office (CSO), the Index of Industrial Production (IIP) expanded by just 1.7 per cent in January, significantly down from 7.5 per cent growth in the year-ago month. Elsewhere in Asia, Hong Kong's Hang Seng fell 0.59 per cent, Shanghai Composite Index slipped 0.37 per cent, Kospi shed 0.88 per cent, and Japan's Nikkei cracked 1.35 per cent in early trade. On Wall Street, Dow Jones Industrial Average ended 0.38 per cent lower on Tuesday. The rupee, meanwhile, depreciated marginally against US dollar to 69.76. The benchmark Brent crude futures rose 0.24 per cent to USD 66.83 per barrel.

Sensex rises over 100 points; Nifty above 11,300

The Directorate General of Civil Aviation (<a href="http://www.wionews.com/india-news/after-second-crash-in-5-months-india-bans-boeings-737-max-8-aircraft-202965">DGCA</a>) has decided to ground <a href="http://www.wionews.com/world/us-not-to-suspend-boeing-737-max-plane-federal-aviation-administration-202979">Boeing 737 Max 8 aircraft</a> by 4pm today.&nbsp;

The decision comes in the wake of <a href="http://www.wionews.com/world/nations-airlines-grounding-boeings-737-max-202951">Ethiopian Airlines crash </a>on Sunday in Addis Ababa killing all 157 people on board.

SpiceJet has around 12 '737 Max 8' planes in its fleet, while Jet Airways has five.

The Directorate General of Civil Aviation had said late Tuesday that it had banned the aircraft from flying in light of the Ethiopian Airlines crash.

European Union and many countries across the world have already banned the use of 737 Max 8 aircraft in their respective airspace.

This was the second Boeing 737 Max 8 crash in less than five months.&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/uKg-pC8aiaE" width="560"></iframe>

On October 29 last year, a Boeing 737 Max 8 aircraft belonging to the Indonesian carrier Lion Air had crashed into the Java Sea about 12 minutes after taking off from Jakarta.&nbsp;

The Ethiopian Airlines plane, which had been en route to Nairobi, had crashed about six minutes after taking off from the Ethiopian capital Addis Ababa.&nbsp;

(With inputs from PTI)

The Directorate General of Civil Aviation (DGCA) has decided to ground Boeing 737 Max 8 aircraft by 4pm today. The decision comes in the wake of Ethiopian Airlines crash on Sunday in Addis Ababa killing all 157 people on board.

The Directorate General of Civil Aviation (DGCA) has decided to ground Boeing 737 Max 8 aircraft by 4pm today. The decision comes in the wake of Ethiopian Airlines crash on Sunday in Addis Ababa killing all 157 people on board. SpiceJet has around 12 '737 Max 8' planes in its fleet, while Jet Airways has five. The Directorate General of Civil Aviation had said late Tuesday that it had banned the aircraft from flying in light of the Ethiopian Airlines crash. European Union and many countries across the world have already banned the use of 737 Max 8 aircraft in their respective airspace. This was the second Boeing 737 Max 8 crash in less than five months. On October 29 last year, a Boeing 737 Max 8 aircraft belonging to the Indonesian carrier Lion Air had crashed into the Java Sea about 12 minutes after taking off from Jakarta. The Ethiopian Airlines plane, which had been en route to Nairobi, had crashed about six minutes after taking off from the Ethiopian capital Addis Ababa. (With inputs from PTI)

All Boeing 737 Max 8 aircraft in India would be grounded by 4pm today: DGCA

Britain on Wednesday slashed its 2019 economic growth forecast, as finance minister Philip Hammond said lifting Brexit's "cloud of uncertainty" was parliament's "most urgent task".

The UK economy is forecast to grow by 1.2 percent this year, sharply down on the government's prediction of 1.6 percent in October, Hammond said as he gave a budget update hours before MPs vote on whether to allow the country to leave the EU with no deal.

Analysts expect parliament instead to favor delaying Britain's departure beyond the March 29 exit date, in a further vote due Thursday.

This is after parliament on Tuesday overwhelmingly rejected the country's draft Brexit divorce agreement with Brussels.

"I am acutely conscious that the House (of Commons) has other pressing matters on its mind today," Chancellor of the Exchequer Hammond told MPs after announcing that British gross domestic product growth would be much lower than expected this year, with the UK economy hit also by China's slowdown and trade war tensions.

"Last night's vote leaves a cloud of uncertainty hanging over our economy and... our most urgent task in this House is to lift that uncertainty," Hammond said in his budget address.

"Leaving with 'no deal' would mean a significant disruption in the short and medium term, and a smaller, less prosperous economy in the long term than if we leave with a deal -- higher unemployment, lower wages, higher prices in the shops.&nbsp;

"That is not what the British people voted for in June 2016" to leave the EU, the chancellor added.

Hammond added that the UK economy was expected to grow by 1.4 percent in 2020, unchanged from the government's October forecast.

Britain on Wednesday slashed its 2019 economic growth forecast, as finance minister Philip Hammond said lifting Brexit's "cloud of uncertainty" was parliament's "most urgent task".

Britain on Wednesday slashed its 2019 economic growth forecast, as finance minister Philip Hammond said lifting Brexit's "cloud of uncertainty" was parliament's "most urgent task". The UK economy is forecast to grow by 1.2 percent this year, sharply down on the government's prediction of 1.6 percent in October, Hammond said as he gave a budget update hours before MPs vote on whether to allow the country to leave the EU with no deal. Analysts expect parliament instead to favor delaying Britain's departure beyond the March 29 exit date, in a further vote due Thursday. This is after parliament on Tuesday overwhelmingly rejected the country's draft Brexit divorce agreement with Brussels. "I am acutely conscious that the House (of Commons) has other pressing matters on its mind today," Chancellor of the Exchequer Hammond told MPs after announcing that British gross domestic product growth would be much lower than expected this year, with the UK economy hit also by China's slowdown and trade war tensions. "Last night's vote leaves a cloud of uncertainty hanging over our economy and... our most urgent task in this House is to lift that uncertainty," Hammond said in his budget address. "Leaving with 'no deal' would mean a significant disruption in the short and medium term, and a smaller, less prosperous economy in the long term than if we leave with a deal -- higher unemployment, lower wages, higher prices in the shops. "That is not what the British people voted for in June 2016" to leave the EU, the chancellor added. Hammond added that the UK economy was expected to grow by 1.4 percent in 2020, unchanged from the government's October forecast.

United Kingdom slashes 2019 economic growth forecast: Budget

Indian shares ended higher for the third session on Wednesday, but gains were capped as investors paused after the recent rally, while global sentiment was hit by mounting concern over world growth and trade.

The benchmark BSE Sensex closed up 0.58 per cent at 37,752.17. The broader NSE Nifty ended 0.36 per cent higher at 11,341.70.

Both indexes ended at the highest level since mid-September 2018.

Shares of airlines that operate Boeing 737 MAX 8 aircraft fell after the government grounded these aircraft following the deadly crash in Ethiopia.&nbsp;

Jet Airways Ltd dropped 1.7 per cent and SpiceJet Ltd dropped 2.1 per cent, while IndiGo owner InterGlobe Aviation Ltd rose 2.5 per cent.

Indian shares ended higher for the third session on Wednesday, but gains were capped as investors paused after the recent rally, while global sentiment was hit by mounting concern over world growth and trade.

Indian shares ended higher for the third session on Wednesday, but gains were capped as investors paused after the recent rally, while global sentiment was hit by mounting concern over world growth and trade. The benchmark BSE Sensex closed up 0.58 per cent at 37,752.17. The broader NSE Nifty ended 0.36 per cent higher at 11,341.70. Both indexes ended at the highest level since mid-September 2018. Shares of airlines that operate Boeing 737 MAX 8 aircraft fell after the government grounded these aircraft following the deadly crash in Ethiopia. Jet Airways Ltd dropped 1.7 per cent and SpiceJet Ltd dropped 2.1 per cent, while IndiGo owner InterGlobe Aviation Ltd rose 2.5 per cent.

Sensex, Nifty mark fresh closing high for 2019

Tech titan <a href="http://www.wionews.com/world/google-plans-to-ban-political-ads-before-canada-election-201213">Google</a> agreed to pay its former India-born top executive Amit Singhal a whopping $45 million as an exit package when he resigned from the company in 2016 after being accused of sexual harassment, according to a media report.

The previously undisclosed amount was in the separation agreement for Singhal, a senior vice president who ran <a href="http://www.wionews.com/world/google-ceo-faces-house-grilling-on-breach-china-censorship-183237">Google's search</a> operations until early 2016.

The amount was revealed on Monday in a shareholder lawsuit accusing the board of directors of Alphabet, the parent company of Google, of shirking their responsibilities by agreeing to pay executives accused of misconduct instead of firing them for cause, the New York Times reported.

The lawsuit was part of the fallout over how Google has handled sexual harassment cases, it said.

The lawsuit was filed in January in California Superior Court with redactions in the passages referring to board discussions. An amended version was filed on Monday without the redactions.

According to the amended suit, Google agreed to pay Singhal $15 million a year for two years and between $5 million and $15 million in the third year as long as he was not employed by a competitor.

He agreed to take a job at Uber about a year after his departure, then resigned from the ride-hailing company a few weeks later when the sexual harassment claim at Google became public, the report said.

Frank Bottini, an attorney for the shareholders, said the board-approved payments were an "abdication of responsibility".

A Google spokeswoman said Monday that the company had "made many changes to our workplace and taken an increasingly hard line on inappropriate conduct by people in positions of authority".

"There are serious consequences for anyone who behaves inappropriately at Google," she said.

Singhal left Google after an employee said he had groped her at an off-site event.

Google investigated the allegation and found that Singhal had been inebriated.

The company also concluded that the employee's account was credible. At the time, Singhal said he wanted to spend more time with his family and focus on his philanthropy, the report said.

Singhal did not respond to a request for comment, it said.

Born in Jhansi, Uttar Pradesh, Singhal received a Bachelor of Engineering degree in computer science from IIT Roorkee. He received an MS degree from the University of Minnesota Duluth and was head of Google's core search team for 15 years.

Tech titan Google agreed to pay its former India-born top executive Amit Singhal a whopping $45 million as an exit package when he resigned from the company in 2016 after being accused of sexual harassment, according to a media report.

Tech titan Google agreed to pay its former India-born top executive Amit Singhal a whopping $45 million as an exit package when he resigned from the company in 2016 after being accused of sexual harassment, according to a media report. The previously undisclosed amount was in the separation agreement for Singhal, a senior vice president who ran Google's search operations until early 2016. The amount was revealed on Monday in a shareholder lawsuit accusing the board of directors of Alphabet, the parent company of Google, of shirking their responsibilities by agreeing to pay executives accused of misconduct instead of firing them for cause, the New York Times reported. The lawsuit was part of the fallout over how Google has handled sexual harassment cases, it said. The lawsuit was filed in January in California Superior Court with redactions in the passages referring to board discussions. An amended version was filed on Monday without the redactions. According to the amended suit, Google agreed to pay Singhal $15 million a year for two years and between $5 million and $15 million in the third year as long as he was not employed by a competitor. He agreed to take a job at Uber about a year after his departure, then resigned from the ride-hailing company a few weeks later when the sexual harassment claim at Google became public, the report said. Frank Bottini, an attorney for the shareholders, said the board-approved payments were an "abdication of responsibility". A Google spokeswoman said Monday that the company had "made many changes to our workplace and taken an increasingly hard line on inappropriate conduct by people in positions of authority". "There are serious consequences for anyone who behaves inappropriately at Google," she said. Singhal left Google after an employee said he had groped her at an off-site event. Google investigated the allegation and found that Singhal had been inebriated. The company also concluded that the employee's account was credible. At the time, Singhal said he wanted to spend more time with his family and focus on his philanthropy, the report said. Singhal did not respond to a request for comment, it said. Born in Jhansi, Uttar Pradesh, Singhal received a Bachelor of Engineering degree in computer science from IIT Roorkee. He received an MS degree from the University of Minnesota Duluth and was head of Google's core search team for 15 years.

Google paid former executive Amit Singhal $45 million exit package after sexual harassment claim

The pound tumbled Tuesday after the UK government's top legal advisor cast doubt on Prime Minister Theresa May's last-gasp changes to her Brexit deal hours before a vital vote that few think May can win.

Sterling, which had been rising after May secured revisions to the Brexit withdrawal agreement, hit reverse after legal advice from Attorney General Geoffrey Cox.

"It looks like any hopes of an unlikely victory for the PM's deal later have just been extinguished," said XTB analyst David Cheetham.

Cox said last-minute new agreements "reduce the risk" of Britain being "indefinitely and involuntarily" held in the so-called Irish border backstop.

However, he also warned that "the legal risk remains unchanged" that Britain would have no legal means of ending the controversial backstop without the European Union's agreement.

In reaction, the pound slid to as low as $1.3005 from $1.3143 just before Cox published his advice. The euro jumped to 86.55 pence from 85.75 pence.&nbsp;

Overnight, following news of May's hard-won EU concessions, sterling had struck a three-week peak at $1.3289 and to 84.76 pence per euro -- a level last seen in May 2017.

Nose dive

"Sterling took a nose dive on the back of the Cox statement," said ThinkMarkets analyst Naeem Aslam.

"It was his opinion which matters the most; now that he has made it clear that the recent deal has no weight, the door is wide open for sterling to move lower."

Rabobank analyst Jane Foley said the despite the volatility, the pound remains the best performing G10 currency so far this year.

"Even if May’s deal is not passed today, the market consensus remains of the view that a hard Brexit will be avoided and this view continues to provide underlying support for the pound."

If the deal is voted down, MPs will Wednesday vote on whether Britain should simply leave on March 29 without any deal at all.

London's stock market, meanwhile, did well on Tuesday, as is often the case when sterling is weak.

Frankfurt closed lower and Paris slightly up.

On Wall Street the DJIA index was lower in the early New York afternoon, but the S&amp;P 500 and Nasdaq both rose.

Boeing shares lost more than six per cent on the second day of a rout for the airline's stock as several governments closed their countries' airspace to 737 MAX planes and airlines grounded the aircraft following a crash in Ethiopia.

The pound tumbled Tuesday after the UK government's top legal advisor cast doubt on Prime Minister Theresa May's last-gasp changes to her Brexit deal hours before a vital vote that few think May can win.

The pound tumbled Tuesday after the UK government's top legal advisor cast doubt on Prime Minister Theresa May's last-gasp changes to her Brexit deal hours before a vital vote that few think May can win. Sterling, which had been rising after May secured revisions to the Brexit withdrawal agreement, hit reverse after legal advice from Attorney General Geoffrey Cox. "It looks like any hopes of an unlikely victory for the PM's deal later have just been extinguished," said XTB analyst David Cheetham. Cox said last-minute new agreements "reduce the risk" of Britain being "indefinitely and involuntarily" held in the so-called Irish border backstop. However, he also warned that "the legal risk remains unchanged" that Britain would have no legal means of ending the controversial backstop without the European Union's agreement. In reaction, the pound slid to as low as $1.3005 from $1.3143 just before Cox published his advice. The euro jumped to 86.55 pence from 85.75 pence. Overnight, following news of May's hard-won EU concessions, sterling had struck a three-week peak at $1.3289 and to 84.76 pence per euro -- a level last seen in May 2017. Nose dive "Sterling took a nose dive on the back of the Cox statement," said ThinkMarkets analyst Naeem Aslam. "It was his opinion which matters the most; now that he has made it clear that the recent deal has no weight, the door is wide open for sterling to move lower." Rabobank analyst Jane Foley said the despite the volatility, the pound remains the best performing G10 currency so far this year. "Even if May’s deal is not passed today, the market consensus remains of the view that a hard Brexit will be avoided and this view continues to provide underlying support for the pound." If the deal is voted down, MPs will Wednesday vote on whether Britain should simply leave on March 29 without any deal at all. London's stock market, meanwhile, did well on Tuesday, as is often the case when sterling is weak. Frankfurt closed lower and Paris slightly up. On Wall Street the DJIA index was lower in the early New York afternoon, but the S&P 500 and Nasdaq both rose. Boeing shares lost more than six per cent on the second day of a rout for the airline's stock as several governments closed their countries' airspace to 737 MAX planes and airlines grounded the aircraft following a crash in Ethiopia.

Brexit tension sends pound tumbling

The BSE benchmark Sensex Tuesday jumped over 300 points led by gains in metal, oil and gas, banking and energy stocks amid unabated buying by foreign investors and strong global cues.

Key indices extended the pre-election rally on expectations that the incumbent NDA government will get a second term following the announcement of 2019 general election dates earlier this week, experts said.

BSE Sensex was trading 346.60 points or 0.94 per cent, higher at 37,400.70. Similarly, the 50-share NSE Nifty climbed 86.65 points, or 0.78 per cent, to 11,254.70.

The 30-share index ended at 37,054.10, up by 382.67 points, or 1.04 per cent, in its previous session Monday; and the Nifty closed at 11,168.05 points, up 132.65 points, or 1.20 per cent 
Top gainers in early trade include PowerGrid, NTPC, RIL, L&amp;T, ICICI Bank, Tata Motors, HCL Tech and Vedanta, rising over 2.60 per cent.

While Bharti Airtel and IndusInd Bank were trading in the red.

Traders said sustained inflow of foreign funds and positive cues other Asian equities boosted investor sentiment here.

On a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 3,810.60 crore on Monday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,955.55 crore, provisional data available with BSE showed.

Vinod Nair, Head of Research, Geojit Financial Services, the market continued rallied after the declaration of election date with opinion poll suggesting an edge to the ruling party.

"Since many stocks are available at a cheap valuation, investors are rushing to high quality mid and small caps to participate in the pre-election rally," he said, adding that market is also awaiting CPI inflation data, scheduled for release later in the day.

Elsewhere in Asia, Hong Kong's Hang Seng rose 1.37 per cent, Shanghai Composite Index jumped 1.61 per cent higher, Kospi was up 0.84 per cent, and Japan's Nikkei gained 1.88 per cent in early trade.

On Wall Street, Dow Jones Industrial Average ended 0.79 per cent higher on Monday.

The rupee, meanwhile, was appreciated 22 paise against US dollar to 69.67.

The benchmark Brent crude futures rose 0.38 per cent to USD 66.83 per barrel.

The BSE benchmark Sensex Tuesday jumped over 300 points led by gains in metal, oil and gas, banking and energy stocks amid unabated buying by foreign investors and strong global cues.

The BSE benchmark Sensex Tuesday jumped over 300 points led by gains in metal, oil and gas, banking and energy stocks amid unabated buying by foreign investors and strong global cues. Key indices extended the pre-election rally on expectations that the incumbent NDA government will get a second term following the announcement of 2019 general election dates earlier this week, experts said. BSE Sensex was trading 346.60 points or 0.94 per cent, higher at 37,400.70. Similarly, the 50-share NSE Nifty climbed 86.65 points, or 0.78 per cent, to 11,254.70. The 30-share index ended at 37,054.10, up by 382.67 points, or 1.04 per cent, in its previous session Monday; and the Nifty closed at 11,168.05 points, up 132.65 points, or 1.20 per cent Top gainers in early trade include PowerGrid, NTPC, RIL, L&T, ICICI Bank, Tata Motors, HCL Tech and Vedanta, rising over 2.60 per cent. While Bharti Airtel and IndusInd Bank were trading in the red. Traders said sustained inflow of foreign funds and positive cues other Asian equities boosted investor sentiment here. On a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 3,810.60 crore on Monday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,955.55 crore, provisional data available with BSE showed. Vinod Nair, Head of Research, Geojit Financial Services, the market continued rallied after the declaration of election date with opinion poll suggesting an edge to the ruling party. "Since many stocks are available at a cheap valuation, investors are rushing to high quality mid and small caps to participate in the pre-election rally," he said, adding that market is also awaiting CPI inflation data, scheduled for release later in the day. Elsewhere in Asia, Hong Kong's Hang Seng rose 1.37 per cent, Shanghai Composite Index jumped 1.61 per cent higher, Kospi was up 0.84 per cent, and Japan's Nikkei gained 1.88 per cent in early trade. On Wall Street, Dow Jones Industrial Average ended 0.79 per cent higher on Monday. The rupee, meanwhile, was appreciated 22 paise against US dollar to 69.67. The benchmark Brent crude futures rose 0.38 per cent to USD 66.83 per barrel.

Sensex soars over 300 points, Nifty above 11,250

Boeing Co's stock took another beating on Tuesday, knocking off more than $25 billion from the planemaker's market value over the past two days, as more countries lined up to ground its 737 MAX 8 aircraft following Sunday's deadly crash in Ethiopia.

Britain joined China, Malaysia, Singapore, Australia and other countries in banning the 737 MAX planes, squeezing the shares, which had been one of best-performing stocks so far this year on the Dow Jones Industrial Average.

Boeing shares have delivered a total return - including reinvested dividends - of nearly four times the performance of the full index since US stocks began rebounding from the 2007-09 financial crisis.

The stock fell 7 per cent to $372 in midday trade on Tuesday, adding to a 5 per cent decline on Monday. The losses set the stock for its biggest two-day percentage drop since June 2009.

Shares of US airlines were broadly lower in midday trade, with the S&amp;P 1500 airlines index off 1.5 per cent. Southwest Airlines Co and American Airlines Group Inc, which analysts said were among the US airlines most exposed to the Boeing aircraft model at issue, saw their shares fall more than 2 per cent.

At least seven of the 24 analysts covering the stock have reviewed their ratings over the last two days, with two downgrades and one price target cut so far, according to Refinitiv data.

DZ Bank became the first brokerage in nearly two years to place a "sell" rating on the stock, while setting a price target of $333 - the lowest on Wall Street.

Brokerage Edward Jones also downgraded the stock to "hold" from "buy", saying the accidents could result in additional expenses, some order delays and pressure financial results.

The single-aisle 737, the world's most-sold commercial aircraft, is central to Boeing's future. The MAX line is the fastest-selling jetliner in the company's history with more than 5,000 orders booked and a backlog valued at nearly $500 billion at list prices.

The United States will mandate that Boeing implement design changes by April, but said the plane was airworthy and did not need to be grounded.

Boeing defended its aircraft and said it has "full confidence in the safety of the Max."

Safety experts say it is too early to speculate on what caused Sunday's crash and black box recorders were yet to yield the cause.

Boeing Co's stock took another beating on Tuesday, knocking off more than $25 billion from the planemaker's market value over the past two days, as more countries lined up to ground its 737 MAX 8 aircraft following Sunday's deadly crash in Ethiopia.

Boeing Co's stock took another beating on Tuesday, knocking off more than $25 billion from the planemaker's market value over the past two days, as more countries lined up to ground its 737 MAX 8 aircraft following Sunday's deadly crash in Ethiopia. Britain joined China, Malaysia, Singapore, Australia and other countries in banning the 737 MAX planes, squeezing the shares, which had been one of best-performing stocks so far this year on the Dow Jones Industrial Average. Boeing shares have delivered a total return - including reinvested dividends - of nearly four times the performance of the full index since US stocks began rebounding from the 2007-09 financial crisis. The stock fell 7 per cent to $372 in midday trade on Tuesday, adding to a 5 per cent decline on Monday. The losses set the stock for its biggest two-day percentage drop since June 2009. Shares of US airlines were broadly lower in midday trade, with the S&P 1500 airlines index off 1.5 per cent. Southwest Airlines Co and American Airlines Group Inc, which analysts said were among the US airlines most exposed to the Boeing aircraft model at issue, saw their shares fall more than 2 per cent. At least seven of the 24 analysts covering the stock have reviewed their ratings over the last two days, with two downgrades and one price target cut so far, according to Refinitiv data. DZ Bank became the first brokerage in nearly two years to place a "sell" rating on the stock, while setting a price target of $333 - the lowest on Wall Street. Brokerage Edward Jones also downgraded the stock to "hold" from "buy", saying the accidents could result in additional expenses, some order delays and pressure financial results. The single-aisle 737, the world's most-sold commercial aircraft, is central to Boeing's future. The MAX line is the fastest-selling jetliner in the company's history with more than 5,000 orders booked and a backlog valued at nearly $500 billion at list prices. The United States will mandate that Boeing implement design changes by April, but said the plane was airworthy and did not need to be grounded. Boeing defended its aircraft and said it has "full confidence in the safety of the Max." Safety experts say it is too early to speculate on what caused Sunday's crash and black box recorders were yet to yield the cause.

Boeing shares take another hit as more countries ground 737 MAX 8 planes

The pound jumped and Asian shares rallied on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement.

European Commission head Jean-Claude Juncker agreed to additional assurances in an updated Brexit deal with British Prime Minister Theresa May on Monday, but warned UK lawmakers would not get a third chance to endorse it.

Sterling, which had risen ahead of the talks between May and Juncker, extended gains in hopes the changes may be enough to sway rebellious British lawmakers who have threatened to vote down May's plan again on Tuesday.

The pound was up 0.5 per cent, buying $1.3215 and taking its gains over two days to more than 1.5 per cent.

A lower likelihood of crashing out of the EU with no Brexit deal could help to inject some bullish sentiment into equity markets by eliminating one of the three major concerns of global investors, alongside trade and slowing global growth, said Greg McKenna, strategist at McKenna Macro.

"Take Brexit off the table and I think some of the real money flows that appear to have turned up late last week are likely to be there again. So I think it helps change the backdrop a little bit," he said.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.08 per cent, with early gains reinforced by a rise in Chinese shares and oil companies, which were buoyed by higher oil prices.

Chinese blue chips rose 1.3 per cent, extending the previous day's 2 per cent gain.

Despite slowing domestic economic growth and uncertainty about the outlook for trade negotiations between China and the United States, Chinese markets have been buoyed this year by investors' expectations of more stimulus to cushion any downturn.

The CSI300 index has risen more than 25 per cent this year.

But Oliver Jones, market economist at Capital Economics cautioned that the Chinese rally is "built on shaky foundations."

"The surge in China's mainland equity markets since the start of the year looks excessive, even allowing for renewed optimism about stimulus in China and the possibility of a US-China trade deal," he said in a note.

"Since we are anticipating more economic weakness in both China and the rest of the world regardless, we suspect that the Shanghai and Shenzhen markets will fall back sharply later in the year."

Australian shares were up 0.4per cent, while Japan's Nikkei stock index jumped 1.9 per cent, helped by a weaker yen.

The amended Brexit deal gave a further boost to investors' appetite for riskier assets, after global equity indexes climbed overnight on gains in technology stocks and expectations of more stimulus from China.

US shares rebounded from a week-long losing streak, with news that US chip supplier Nvidia Corp has agreed to buy Israeli chip designer Mellanox Technologies Ltd for $6.8 billion helping to boost tech shares.

A nearly 7 per cent gain in Nvidia shares helped to propel the Nasdaq Composite 2.02 per cent&nbsp;higher, to 7,558.06 points.

The Dow Jones Industrial Average rose 0.79 per cent, with gains tempered by a 5.3 per cent drop in Boeing shares after some airlines grounded the company's new 737 MAX 8 passenger jet following a second deadly crash of the airliner in five months.

The S&amp;P 500 gained 1.47 per cent to 2,783.3.

RISING YIELDS

The market's turn toward riskier assets lifted yields on US Treasury bonds, with benchmark 10-year Treasury notes at 2.6645 percent compared with its U.S. close of 2.641 per cent on Monday.

The two-year yield was at 2.4998 per cent compared with a US close of 2.477 per cent.

The dollar index, which measures the greenback against a basket of rivals, shed 0.2 per cent to 97.036. But rising risk appetite weighed on the safe-haven yen, pushing the dollar up 0.16 per cent to 111.37.

The euro was up 0.13 per cent on the day at $1.1262.

In commodity markets, oil prices rose on a combination of strong demand and supply cuts by the Organization of the Petrolum Exporting Countries (OPEC).

A political and economic crisis in OPEC-member Venezuela is also seen as lifting crude prices.

Venezuela's opposition-run congress on Monday declared a "state of alarm" over a five-day power blackout that has crippled the country's oil exports and left millions of citizens scrambling to find food and water.

US crude was up 0.5 per cent at $57.08 a barrel and Brent crude was 0.4 per cent higher at $66.84.

Spot gold jumped 0.2 per cent to $1,296.45 per ounce.

The pound jumped and Asian shares rallied on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement.

The pound jumped and Asian shares rallied on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. European Commission head Jean-Claude Juncker agreed to additional assurances in an updated Brexit deal with British Prime Minister Theresa May on Monday, but warned UK lawmakers would not get a third chance to endorse it. Sterling, which had risen ahead of the talks between May and Juncker, extended gains in hopes the changes may be enough to sway rebellious British lawmakers who have threatened to vote down May's plan again on Tuesday. The pound was up 0.5 per cent, buying $1.3215 and taking its gains over two days to more than 1.5 per cent. A lower likelihood of crashing out of the EU with no Brexit deal could help to inject some bullish sentiment into equity markets by eliminating one of the three major concerns of global investors, alongside trade and slowing global growth, said Greg McKenna, strategist at McKenna Macro. "Take Brexit off the table and I think some of the real money flows that appear to have turned up late last week are likely to be there again. So I think it helps change the backdrop a little bit," he said. MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.08 per cent, with early gains reinforced by a rise in Chinese shares and oil companies, which were buoyed by higher oil prices. Chinese blue chips rose 1.3 per cent, extending the previous day's 2 per cent gain. Despite slowing domestic economic growth and uncertainty about the outlook for trade negotiations between China and the United States, Chinese markets have been buoyed this year by investors' expectations of more stimulus to cushion any downturn. The CSI300 index has risen more than 25 per cent this year. But Oliver Jones, market economist at Capital Economics cautioned that the Chinese rally is "built on shaky foundations." "The surge in China's mainland equity markets since the start of the year looks excessive, even allowing for renewed optimism about stimulus in China and the possibility of a US-China trade deal," he said in a note. "Since we are anticipating more economic weakness in both China and the rest of the world regardless, we suspect that the Shanghai and Shenzhen markets will fall back sharply later in the year." Australian shares were up 0.4per cent, while Japan's Nikkei stock index jumped 1.9 per cent, helped by a weaker yen. The amended Brexit deal gave a further boost to investors' appetite for riskier assets, after global equity indexes climbed overnight on gains in technology stocks and expectations of more stimulus from China. US shares rebounded from a week-long losing streak, with news that US chip supplier Nvidia Corp has agreed to buy Israeli chip designer Mellanox Technologies Ltd for $6.8 billion helping to boost tech shares. A nearly 7 per cent gain in Nvidia shares helped to propel the Nasdaq Composite 2.02 per cent higher, to 7,558.06 points. The Dow Jones Industrial Average rose 0.79 per cent, with gains tempered by a 5.3 per cent drop in Boeing shares after some airlines grounded the company's new 737 MAX 8 passenger jet following a second deadly crash of the airliner in five months. The S&P 500 gained 1.47 per cent to 2,783.3. RISING YIELDS The market's turn toward riskier assets lifted yields on US Treasury bonds, with benchmark 10-year Treasury notes at 2.6645 percent compared with its U.S. close of 2.641 per cent on Monday. The two-year yield was at 2.4998 per cent compared with a US close of 2.477 per cent. The dollar index, which measures the greenback against a basket of rivals, shed 0.2 per cent to 97.036. But rising risk appetite weighed on the safe-haven yen, pushing the dollar up 0.16 per cent to 111.37. The euro was up 0.13 per cent on the day at $1.1262. In commodity markets, oil prices rose on a combination of strong demand and supply cuts by the Organization of the Petrolum Exporting Countries (OPEC). A political and economic crisis in OPEC-member Venezuela is also seen as lifting crude prices. Venezuela's opposition-run congress on Monday declared a "state of alarm" over a five-day power blackout that has crippled the country's oil exports and left millions of citizens scrambling to find food and water. US crude was up 0.5 per cent at $57.08 a barrel and Brent crude was 0.4 per cent higher at $66.84. Spot gold jumped 0.2 per cent to $1,296.45 per ounce.

Pound jumps, Asian shares rise after changes to Brexit deal

<a href="http://www.wionews.com/business-economy/december-retail-inflation-rate-drops-to-219-lowest-since-june-2017-190234">Consumer inflation</a> in the month of February rose to 2.57 per cent, government data revealed on Tuesday. Consumer inflation was revised to 1.97 per cent in January this year from 2.05 per cent.&nbsp;

In a surprise move on February 7, the Reserve Bank of India's Monetary Policy Committee (MPC) cut the benchmark repo rate 25 basis points to 6.25 per cent, in its first cut in 18 months.

The MPC, which mainly monitors retail inflation data, also revised down its inflation projections for the period from April to September to 3.2 per cent to 3.4 per cent, from 3.8 per cent to 4.2 per cent.

Inflation pressures have eased in recent months, following falls in food and crude oil prices. India imports nearly 80 per cent of oil it consumes.

Meanwhile,&nbsp;India's industrial output in January rose 1.7 per cent from a year earlier, lower than forecast, government data showed on Tuesday.

January's growth was much slower than the upwardly revised 2.6 per cent year-on-year increase in December, the data showed.

(With inputs from Reuters)

Consumer inflation in the month of February rose to 2.57 per cent, government data revealed on Tuesday. Consumer inflation was revised to 1.97 per cent in January this year from 2.

Consumer inflation in the month of February rose to 2.57 per cent, government data revealed on Tuesday. Consumer inflation was revised to 1.97 per cent in January this year from 2.05 per cent. In a surprise move on February 7, the Reserve Bank of India's Monetary Policy Committee (MPC) cut the benchmark repo rate 25 basis points to 6.25 per cent, in its first cut in 18 months. The MPC, which mainly monitors retail inflation data, also revised down its inflation projections for the period from April to September to 3.2 per cent to 3.4 per cent, from 3.8 per cent to 4.2 per cent. Inflation pressures have eased in recent months, following falls in food and crude oil prices. India imports nearly 80 per cent of oil it consumes. Meanwhile, India's industrial output in January rose 1.7 per cent from a year earlier, lower than forecast, government data showed on Tuesday. January's growth was much slower than the upwardly revised 2.6 per cent year-on-year increase in December, the data showed. (With inputs from Reuters)

Retail inflation up to 2.57% in February: Government data

The BSE Sensex climbed 481.56 points to close at 37, 535 on Tuesday.&nbsp;

The Nifty meanwhile climbed 133.15 points to close at 11,301.&nbsp;

The Sensex closed at a six-month high on Monday, after the announcement of the dates for the general elections a day earlier on Sunday. &nbsp;

New reports Tuesday said strong global cues and uninterrupted buying by foreign investors were helping prop up the surge.&nbsp;

And that a stronger rupee was contributing to the positive market sentiments.&nbsp;

The BSE Sensex climbed 481.56 points to close at 37, 535 on Tuesday. The Nifty meanwhile climbed 133.15 points to close at 11,301. The Sensex closed at a six-month high on Monday, after the announcement of the dates for the general elections a day earlier on Sunday.

The BSE Sensex climbed 481.56 points to close at 37, 535 on Tuesday. The Nifty meanwhile climbed 133.15 points to close at 11,301. The Sensex closed at a six-month high on Monday, after the announcement of the dates for the general elections a day earlier on Sunday. New reports Tuesday said strong global cues and uninterrupted buying by foreign investors were helping prop up the surge. And that a stronger rupee was contributing to the positive market sentiments.

Sensex extends surge, climbs 481.5 points 

Cash-strapped Jet Airways said Monday it is not operating any of the five <a href="http://www.wionews.com/world/boeing-737-max-8-airworthy-but-it-will-make-design-changes-us-202724">Boeing 737 MAX</a> in its fleet. 
&nbsp; &nbsp; &nbsp; 
The statement of the <a href="http://www.wionews.com/world/indonesia-lion-air-plane-with-189-on-board-crashes-into-sea-authorities-search-for-remains-174139">airline,</a> which has grounded a significant number of planes, comes amid aviation regulator being asked to undertake a safety assessment of <a href="http://www.wionews.com/world/ethiopian-plane-crash-investigators-recover-black-boxes-from-boeing-737-max-8-202673">737 MAX aircraft</a> following the crash of such a plane in Ethiopia on Sunday.

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Our thoughts and prayers are with the families and friends of passengers and crew members of Ethiopian Airlines flight <a href="https://twitter.com/hashtag/ET302?src=hash&amp;ref_src=twsrc%5Etfw">#ET302</a>. May their souls rest in peace.
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Jet Airways and SpiceJet are the only two domestic carriers that have 737 MAX planes in their fleet. &nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/uKg-pC8aiaE" width="560"></iframe>

In a statement, Jet Airways said it has five Boeing 737 MAX planes in its fleet "but is currently not flying any of these aircraft". 
&nbsp; &nbsp; &nbsp; 
"The airline is in contact with the manufacturer and the regulator in context of this development, and remains committed to implementing all directives or advisories that may be published by those authorised," the airline said in the context of the crash in Ethiopia that killed 157 people.

Cash-strapped Jet Airways said Monday it is not operating any of the five Boeing 737 MAX in its fleet. The statement of the airline, which has grounded a significant number of planes, comes amid aviation regulator being asked to undertake a safety assessment of 737 MAX aircraft following the crash of such a plane in Ethiopia on Sunday.

Cash-strapped Jet Airways said Monday it is not operating any of the five Boeing 737 MAX in its fleet. The statement of the airline, which has grounded a significant number of planes, comes amid aviation regulator being asked to undertake a safety assessment of 737 MAX aircraft following the crash of such a plane in Ethiopia on Sunday. Our thoughts and prayers are with the families and friends of passengers and crew members of Ethiopian Airlines flight #ET302. May their souls rest in peace. — Jet Airways (@jetairways) March 10, 2019 × Jet Airways and SpiceJet are the only two domestic carriers that have 737 MAX planes in their fleet. In a statement, Jet Airways said it has five Boeing 737 MAX planes in its fleet "but is currently not flying any of these aircraft". "The airline is in contact with the manufacturer and the regulator in context of this development, and remains committed to implementing all directives or advisories that may be published by those authorised," the airline said in the context of the crash in Ethiopia that killed 157 people.

All our five Boeing 737 Max planes currently grounded: Jet Airways

Equity benchmark Sensex surged over 233 points 36,904 in early trade on Monday, which is seen by experts as a pre-poll rally following the announcement of 2019 general election dates.

Similarly, the NSE gauge Nifty rose over 75 points to scale past 11,110 level.

The BSE Sensex started off on a positive note at 36,741.57 and furthered its gains to trade at 36,904.81, rising 233.38 points, or 0.64 per cent, in early trade.

The broader Nifty opened at 11,068.75 and extended its rise to 11,110.95, gaining 75.55 points, or 0.68 per cent.

Experts said that prevailing geopolitical concerns in the wake of recent India-Pakistan military conflicts will be a key factor in the upcoming general elections that may help incumbent NDA government at the Centre.

With the Election Commission of India (EC) announcing dates for the much-awaited 2019 general elections, market analysts say a pre-poll rally is likely to continue, citing historical data which suggests a positive trend in the stock market in case the incumbent returns to power.

Last week, the 30-share Sensex settled 53.99 points, or 0.15 per cent, lower at 36,671.43, while the broader NSE Nifty slipped 22.80 points, or 0.21 per cent, to 11,035.40.

During the week, the Sensex gained 607.62 points or 1.68 per cent; and the Nifty advanced 171.9 points or 1.58 per cent.

Meanwhile, Asian bourses saw mixed trading activities following the subdued last week for global equities. Hong Kong and Japan posted gains, while South Korea stocks retreated. In contrast, Chinese stocks soared.

Besides election-related developments this week, the market will watch CPI, WPI data, analysts said.

Equity benchmark Sensex surged over 233 points 36,904 in early trade on Monday, which is seen by experts as a pre-poll rally following the announcement of 2019 general election dates.

Equity benchmark Sensex surged over 233 points 36,904 in early trade on Monday, which is seen by experts as a pre-poll rally following the announcement of 2019 general election dates. Similarly, the NSE gauge Nifty rose over 75 points to scale past 11,110 level. The BSE Sensex started off on a positive note at 36,741.57 and furthered its gains to trade at 36,904.81, rising 233.38 points, or 0.64 per cent, in early trade. The broader Nifty opened at 11,068.75 and extended its rise to 11,110.95, gaining 75.55 points, or 0.68 per cent. Experts said that prevailing geopolitical concerns in the wake of recent India-Pakistan military conflicts will be a key factor in the upcoming general elections that may help incumbent NDA government at the Centre. With the Election Commission of India (EC) announcing dates for the much-awaited 2019 general elections, market analysts say a pre-poll rally is likely to continue, citing historical data which suggests a positive trend in the stock market in case the incumbent returns to power. Last week, the 30-share Sensex settled 53.99 points, or 0.15 per cent, lower at 36,671.43, while the broader NSE Nifty slipped 22.80 points, or 0.21 per cent, to 11,035.40. During the week, the Sensex gained 607.62 points or 1.68 per cent; and the Nifty advanced 171.9 points or 1.58 per cent. Meanwhile, Asian bourses saw mixed trading activities following the subdued last week for global equities. Hong Kong and Japan posted gains, while South Korea stocks retreated. In contrast, Chinese stocks soared. Besides election-related developments this week, the market will watch CPI, WPI data, analysts said.

Sensex soars 233 points, Nifty above 11,100; Jet Airways, SBI shares jump

Asian shares pulled back on Monday after US employment data raised doubts about the strength of the global economy while investor jitters ahead of crucial Brexit votes in the UK parliament this week weighed on the pound.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed from Friday's three-week low. Japan's Nikkei gained 0.4 per cent in early trade after four consecutive sessions in the red last week.

Wall Street's main indexes posted their biggest weekly decline since the market tumbled at the end of 2018 last week, falling for the fifth consecutive day on Friday on the shocking payrolls data.

The US economy created only 20,000 jobs in February, the weakest reading since September 2017. As a result, bond yields dropped, with the 10-year Treasuries yield hitting a two-month low of 2.607 per cent.

The two-year yield also hit a two-month low of 2.438 per cent, edging near the current Fed funds rate around 2.40 per cent.

Fed funds futures are pricing in more than 20 per cent chance of a rate cut this year.

"The headline reading was so weak that the market could have reacted more aggressively. I would say markets reacted relatively calmly because there were elements that suggest weakness is temporary," said Tomoaki Shishido, fixed income strategist at Nomura Securities.

While jobs growth was weak, average hourly earnings rose 11 cents, or 0.4 per cent, raising the annual increase to 3.4 per cent, the biggest gain since April 2009.

Fed Chair Jerome Powell said on Friday that the central bank will be careful not to shock financial markets as it stabilises its bond portfolio, saying it does not see problems in the US economy that warrant an immediate change in its policy.

He also said the new normal for the Fed's total liabilities may be in the ballpark of 16.5 per cent of GDP.

Chinese data released over the weekend was slightly weaker though hopes for more policy support are likely to cushion any blows.

New bank loans in China fell a bit more than expected in February from a record the previous month, while money supply growth also missed the forecast.

Following the data, China's central bank on Sunday pledged to further support the slowing economy by spurring loans and lowering borrowing costs.

In the currency market, the euro stood at $1.12345, keeping some distance from Thursday's $1.11765 hit after the European Central Bank's surprisingly dovish stance. It was its lowest since late June 2017.

The dollar was softer at 111.12 yen, having peaked at a 2-1/2-month high of 112.135 last Tuesday.

The British pound was wobbly at $1.2986, having fallen to a three-week low of $1.2945 earlier on Monday on nervousness ahead of a crucial week in the UK’s troubled political debate over EU membership, with parliament expected to reject Prime Minister Theresa May's deal in a vote on Tuesday.

If that happens, lawmakers will vote the next day on whether to leave without a deal on March 29. If they reject that, then on Thursday they are due to vote on a "limited" delay.

Oil prices steadied after dipping on Friday on concerns about a slower US economic growth and surging US oil supply.

US West Texas Intermediate (WTI) crude futures rose 0.2 per cent to $56.18 per barrel.

Asian shares pulled back on Monday after US employment data raised doubts about the strength of the global economy while investor jitters ahead of crucial Brexit votes in the UK parliament this week weighed on the pound.

Asian shares pulled back on Monday after US employment data raised doubts about the strength of the global economy while investor jitters ahead of crucial Brexit votes in the UK parliament this week weighed on the pound. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed from Friday's three-week low. Japan's Nikkei gained 0.4 per cent in early trade after four consecutive sessions in the red last week. Wall Street's main indexes posted their biggest weekly decline since the market tumbled at the end of 2018 last week, falling for the fifth consecutive day on Friday on the shocking payrolls data. The US economy created only 20,000 jobs in February, the weakest reading since September 2017. As a result, bond yields dropped, with the 10-year Treasuries yield hitting a two-month low of 2.607 per cent. The two-year yield also hit a two-month low of 2.438 per cent, edging near the current Fed funds rate around 2.40 per cent. Fed funds futures are pricing in more than 20 per cent chance of a rate cut this year. "The headline reading was so weak that the market could have reacted more aggressively. I would say markets reacted relatively calmly because there were elements that suggest weakness is temporary," said Tomoaki Shishido, fixed income strategist at Nomura Securities. While jobs growth was weak, average hourly earnings rose 11 cents, or 0.4 per cent, raising the annual increase to 3.4 per cent, the biggest gain since April 2009. Fed Chair Jerome Powell said on Friday that the central bank will be careful not to shock financial markets as it stabilises its bond portfolio, saying it does not see problems in the US economy that warrant an immediate change in its policy. He also said the new normal for the Fed's total liabilities may be in the ballpark of 16.5 per cent of GDP. Chinese data released over the weekend was slightly weaker though hopes for more policy support are likely to cushion any blows. New bank loans in China fell a bit more than expected in February from a record the previous month, while money supply growth also missed the forecast. Following the data, China's central bank on Sunday pledged to further support the slowing economy by spurring loans and lowering borrowing costs. In the currency market, the euro stood at $1.12345, keeping some distance from Thursday's $1.11765 hit after the European Central Bank's surprisingly dovish stance. It was its lowest since late June 2017. The dollar was softer at 111.12 yen, having peaked at a 2-1/2-month high of 112.135 last Tuesday. The British pound was wobbly at $1.2986, having fallen to a three-week low of $1.2945 earlier on Monday on nervousness ahead of a crucial week in the UK’s troubled political debate over EU membership, with parliament expected to reject Prime Minister Theresa May's deal in a vote on Tuesday. If that happens, lawmakers will vote the next day on whether to leave without a deal on March 29. If they reject that, then on Thursday they are due to vote on a "limited" delay. Oil prices steadied after dipping on Friday on concerns about a slower US economic growth and surging US oil supply. US West Texas Intermediate (WTI) crude futures rose 0.2 per cent to $56.18 per barrel.

Asian shares decline as US jobs data clouds global outlook

Oil prices rose on Monday, lifted by Saudi oil minister Khalid al-Falih saying an end to OPEC-led supply cuts was unlikely before June and a report of falling US drilling activity.

Despite this, markets were somewhat held back after US employment data raised concerns that an economic slowdown in Asia and Europe was spilling into the United States, where growth has so far still been healthy.

US West Texas Intermediate (WTI) crude oil futures were at $56.29 per barrel at 0156 GMT, up 22 cents, or 0.4 per cent from their last close.

Brent crude futures were at $65.91 per barre, up 17 cents, or 0.3 per cent.

Oil markets have been supported this year by ongoing supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and some non-affiliated allies like Russia - known as the OPEC+ alliance. OPEC+ has pledged to cut 1.2 million barrels per day (bpd) in crude supply since the start of the year to tighten markets and prop up prices.

The group will meet in Vienna on April 17-18, with another gathering scheduled for June 25-26, to discuss supply policy.

Saudi oil minister Khalid al-Falih told Reuters on Sunday it would be too early to change OPEC+ output policy at the group's meeting in April.

"We will see what happens by April, if there is any unforeseen disruption somewhere else, but barring this I think we will just be kicking the can forward," Falih said.

Prices were also supported by US energy services firm Baker Hughes' latest weekly report showing the number of rigs drilling for new oil production in the United States fell by nine to 834.

High drilling activity last year resulted in a more than 2 million bpd rise in production, to a record 12.1 million bpd reached this February.

"This is the third straight week of decline...after a number of oil producers trimmed their spending outlooks for 2019," ANZ bank said on Monday.

The slowdown in drilling points to more timid output growth going forward, but because the overall drilling level remains relatively high despite the recent decline, many analysts still expect U.S. crude output to rise above 13 million bpd soon.

Oil prices rose on Monday, lifted by Saudi oil minister Khalid al-Falih saying an end to OPEC-led supply cuts was unlikely before June and a report of falling US drilling activity.

Oil prices rose on Monday, lifted by Saudi oil minister Khalid al-Falih saying an end to OPEC-led supply cuts was unlikely before June and a report of falling US drilling activity. Despite this, markets were somewhat held back after US employment data raised concerns that an economic slowdown in Asia and Europe was spilling into the United States, where growth has so far still been healthy. US West Texas Intermediate (WTI) crude oil futures were at $56.29 per barrel at 0156 GMT, up 22 cents, or 0.4 per cent from their last close. Brent crude futures were at $65.91 per barre, up 17 cents, or 0.3 per cent. Oil markets have been supported this year by ongoing supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and some non-affiliated allies like Russia - known as the OPEC+ alliance. OPEC+ has pledged to cut 1.2 million barrels per day (bpd) in crude supply since the start of the year to tighten markets and prop up prices. The group will meet in Vienna on April 17-18, with another gathering scheduled for June 25-26, to discuss supply policy. Saudi oil minister Khalid al-Falih told Reuters on Sunday it would be too early to change OPEC+ output policy at the group's meeting in April. "We will see what happens by April, if there is any unforeseen disruption somewhere else, but barring this I think we will just be kicking the can forward," Falih said. Prices were also supported by US energy services firm Baker Hughes' latest weekly report showing the number of rigs drilling for new oil production in the United States fell by nine to 834. High drilling activity last year resulted in a more than 2 million bpd rise in production, to a record 12.1 million bpd reached this February. "This is the third straight week of decline...after a number of oil producers trimmed their spending outlooks for 2019," ANZ bank said on Monday. The slowdown in drilling points to more timid output growth going forward, but because the overall drilling level remains relatively high despite the recent decline, many analysts still expect U.S. crude output to rise above 13 million bpd soon.

Oil rises on OPEC-led supply cuts, but slowing economy restricts gains

The <a href="http://www.wionews.com/opinions/venezuela-crisis-donald-trumps-threats-to-nicolas-maduro-evoke-history-of-us-intervention-in-latin-america-200063">United States</a> is pressing India to stop buying oil from <a href="http://www.wionews.com/world/juan-guaido-nicolas-maduro-rallies-set-as-venezuela-struggles-with-blackout-202146">Venezuelan </a>President <a href="http://www.wionews.com/world/venezuelas-guaido-tells-nicolas-maduro-pressure-just-beginning-calls-for-civic-strike-201425">Nicolas Maduro</a>’s government, Washington’s top envoy for Venezuela said, as the Trump administration this week threatened more US sanctions to cut off Maduro’s financial lifelines.

“We say you should not be helping this regime. You should be on the side of the Venezuelan people,” Elliott Abrams told Reuters in an interview.

The Trump administration has given the same message to other governments, Abrams said and has made a similar argument to foreign banks and companies doing business with Maduro.

Abrams described the US approach as “arguing, cajoling, urging”.

The talks with India come as the US and its regional allies, who back Venezuelan Opposition leader Juan Guaido, threaten more sanctions to cut off revenue streams to Maduro’s government and force him to step down.

Washington views Guaido as Venezuela’s legitimate leader and has imposed sanctions on the country’s oil sector and announced asset freezes and visa bans targeting top government officials.

The Indian market is crucial for Venezuela’s economy because it has historically been the second-largest cash-paying customer for the Opec country’s crude, behind the US, which through sanctions against Maduro has handed control of much of that revenue to Guaido.

Washington wants India to do the same.

Oil shipments to China, another major importer of Venezuelan oil, do not generate cash because they go to pay off billions of dollars in loans made to Caracas by Beijing.

Any move by the US to prevent purchases of Venezuelan crude would be part of a strategy known as “secondary sanctions,” in which Washington applies penalties to companies not based in the United States.

That strategy, and even the threat of using it was vital in Washington’s pressure campaign to cut off revenue to Iran, which eventually helped force Tehran to negotiate a nuclear deal with six world powers in 2015.

But it has drawn criticism from some foreign governments that argue that the US should not be able to force its policy decisions on firms in other countries.

US National Security Advisor John Bolton this week put foreign banks “on notice” that they risked US sanctions for hiding Venezuelan assets. “If that leads to people to cooperate voluntarily, we’re glad,” Abrams said.

Asked whether India had agreed to stop buying oil from Maduro’s government, Abrams said: “I don’t want to characterise the discussions, which continue.”

The issue will be discussed on Tuesday during US-India diplomatic consultations in Washington, an Indian official said, adding that India “was very cognizant of the US position” on Venezuela.

Abrams said there were no signs that Maduro is open to negotiations to end the political impasse with Guaido, emphasising that any talks would need to be reached among Venezuelans.

Manuel Quevedo, Venezuela’s oil minister, attended a conference in New Delhi in mid-February seeking to “double” the country’s crude exports to India while boosting Venezuelan imports of Indian refined products. He also said he was open to barter payments.

But Venezuela’s exports to India remained relatively stable in the month since the Trump administration slapped sanctions on Venezuela’s state-run oil company PDVSA, meaning shipments were not nearly enough to make up for the fall in US sales.&nbsp;

The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro’s government, Washington’s top envoy for Venezuela said, as the Trump administration this week threatened more US sanctions to cut off Maduro’s financial lifelines.

The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro’s government, Washington’s top envoy for Venezuela said, as the Trump administration this week threatened more US sanctions to cut off Maduro’s financial lifelines. “We say you should not be helping this regime. You should be on the side of the Venezuelan people,” Elliott Abrams told Reuters in an interview. The Trump administration has given the same message to other governments, Abrams said and has made a similar argument to foreign banks and companies doing business with Maduro. Abrams described the US approach as “arguing, cajoling, urging”. The talks with India come as the US and its regional allies, who back Venezuelan Opposition leader Juan Guaido, threaten more sanctions to cut off revenue streams to Maduro’s government and force him to step down. Washington views Guaido as Venezuela’s legitimate leader and has imposed sanctions on the country’s oil sector and announced asset freezes and visa bans targeting top government officials. The Indian market is crucial for Venezuela’s economy because it has historically been the second-largest cash-paying customer for the Opec country’s crude, behind the US, which through sanctions against Maduro has handed control of much of that revenue to Guaido. Washington wants India to do the same. Oil shipments to China, another major importer of Venezuelan oil, do not generate cash because they go to pay off billions of dollars in loans made to Caracas by Beijing. Any move by the US to prevent purchases of Venezuelan crude would be part of a strategy known as “secondary sanctions,” in which Washington applies penalties to companies not based in the United States. That strategy, and even the threat of using it was vital in Washington’s pressure campaign to cut off revenue to Iran, which eventually helped force Tehran to negotiate a nuclear deal with six world powers in 2015. But it has drawn criticism from some foreign governments that argue that the US should not be able to force its policy decisions on firms in other countries. US National Security Advisor John Bolton this week put foreign banks “on notice” that they risked US sanctions for hiding Venezuelan assets. “If that leads to people to cooperate voluntarily, we’re glad,” Abrams said. Asked whether India had agreed to stop buying oil from Maduro’s government, Abrams said: “I don’t want to characterise the discussions, which continue.” The issue will be discussed on Tuesday during US-India diplomatic consultations in Washington, an Indian official said, adding that India “was very cognizant of the US position” on Venezuela. Abrams said there were no signs that Maduro is open to negotiations to end the political impasse with Guaido, emphasising that any talks would need to be reached among Venezuelans. Manuel Quevedo, Venezuela’s oil minister, attended a conference in New Delhi in mid-February seeking to “double” the country’s crude exports to India while boosting Venezuelan imports of Indian refined products. He also said he was open to barter payments. But Venezuela’s exports to India remained relatively stable in the month since the Trump administration slapped sanctions on Venezuela’s state-run oil company PDVSA, meaning shipments were not nearly enough to make up for the fall in US sales.

Urge India to stop buying oil from Venezuela's Nicolas Maduro government: US top envoy

The BSE benchmark Sensex soared 383 points to reclaim the 37,000 mark on Monday, its highest level in nearly six months, led by gains in RIL, ICICI Bank and Bharti Airtel amid sustained foreign fund inflows and positive global cues.

According to experts, investors widened their portfolios amid hopes of a win for the incumbent NDA government, following the announcement of 2019 general election dates Sunday.

The 30-share Sensex started off on a strong footing and reclaimed the 37,000 mark on widespread buying by investors, and ended at 37,054.10, up by 382.67 points, or 1.04 per cent.

This is the highest closing level since September 19 last year when it had closed at 37,121.22.

The gauge had settled 53.99 points, or 0.15 per cent, lower at 36,671.43 on Friday.

The NSE Nifty, after climbing to 11,172.40 - its highest since September 26 last year - closed at 11,168.05 points, up 132.65 points, or 1.20 per cent.

Power, oil and gas, PSU, metal, banking, auto, capital goods, infrastructure and healthcare sector stocks witnessed heavy buying through the session.

Experts see this as a pre-poll rally following the announcement of 2019 general election dates.

Prevailing geopolitical concerns in the wake of recent India-Pakistan military conflicts will be a key factor in the upcoming general elections that may help incumbent NDA government at the centre, they said.

Lok Sabha elections will begin on April 11 and will be held over seven phases followed by counting of votes on May 23, the Election Commission announced on Sunday.

According to Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas, elections results will be the deciding factor for further upside in the short-term.

Bharti Airtel emerged best performers among Sensex constituents by surging 8.08 per cent, followed by PowerGrid by 3.90 per cent.

Other prominent gainers included Coal India, RIL, Vedanta, Tata Steel, Asian Paint, Hero MotoCorp, SBI, ONGC, Yes Bank, Bajaj Auto, ICICI Bank, M&amp;M, Maruti Suzuki,

Kotak Bank, Sun Pharma, Bajaj Finance, HUL, HDFC, L&amp;T, ITC, Tata Motors, Axis Bank and HDFC Bank, rising up to 3.80 per cent.

However, TCS, HCL Tech, NTPC, IndusInd Bank and Infosys ended in the negative zone with fall of up to 0.41 per cent.

Barring IT, all the BSE sectoral indices ended in the green, with oil and gas index rising 2.85 per cent, metal 2.50 per cent, consumer durables 2.32 per cent, PSU 2.30 per cent, auto 2.24 per cent, power 2.04 per cent, infrastructure 1.75 per cent, healthcare 1.54 per cent, capital goods 1.19 percent, FMCG 1.05 per cent, realty 0.93 per cent, capital goods 0.95 per cent, bankex 0.92 per cent, FMCG 0.74 per cent and teck 0.53 per cent.

The broader markets too displayed a firm trend with the BSE mid-cap index surging 1.96 per cent and the small-caps index rising 1.61 per cent as investors accumulated recently beaten down stocks available at prevailing attractive levels.

Meanwhile, on a net basis, foreign institutional investors (FIIs) bought shares worth Rs 1,095.06 crore, while domestic institutional investors (DIIs) sold shares worth Rs 470.7 crore on Friday, provisional data showed.

In afternoon trade, the rupee appreciated 21 paise to 69.93 against the dollar.

A firming trend in the rest of Asia, as Chinese markets rebounded on hopes of more policy support for the slowing economy, and a higher opening in European shares also accelerated buying activity here, traders said.

Shanghai Composite Index rallied 1.92 per cent, Japan's Nikkei gained 0.47 per cent, Hong Kong's Hang Seng was up 0.99 per cent and Korea's Kospi rose 0.03 per cent.

Among European markets, Frankfurt's DAX rose 0.38 per cent, Paris CAC 40 advanced 0.32 per cent in their early deals, and London's FTSE too gained 0.77 per cent.&nbsp;

The BSE benchmark Sensex soared 383 points to reclaim the 37,000 mark on Monday, its highest level in nearly six months, led by gains in RIL, ICICI Bank and Bharti Airtel amid sustained foreign fund inflows and positive global cues.

The BSE benchmark Sensex soared 383 points to reclaim the 37,000 mark on Monday, its highest level in nearly six months, led by gains in RIL, ICICI Bank and Bharti Airtel amid sustained foreign fund inflows and positive global cues. According to experts, investors widened their portfolios amid hopes of a win for the incumbent NDA government, following the announcement of 2019 general election dates Sunday. The 30-share Sensex started off on a strong footing and reclaimed the 37,000 mark on widespread buying by investors, and ended at 37,054.10, up by 382.67 points, or 1.04 per cent. This is the highest closing level since September 19 last year when it had closed at 37,121.22. The gauge had settled 53.99 points, or 0.15 per cent, lower at 36,671.43 on Friday. The NSE Nifty, after climbing to 11,172.40 - its highest since September 26 last year - closed at 11,168.05 points, up 132.65 points, or 1.20 per cent. Power, oil and gas, PSU, metal, banking, auto, capital goods, infrastructure and healthcare sector stocks witnessed heavy buying through the session. Experts see this as a pre-poll rally following the announcement of 2019 general election dates. Prevailing geopolitical concerns in the wake of recent India-Pakistan military conflicts will be a key factor in the upcoming general elections that may help incumbent NDA government at the centre, they said. Lok Sabha elections will begin on April 11 and will be held over seven phases followed by counting of votes on May 23, the Election Commission announced on Sunday. According to Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas, elections results will be the deciding factor for further upside in the short-term. Bharti Airtel emerged best performers among Sensex constituents by surging 8.08 per cent, followed by PowerGrid by 3.90 per cent. Other prominent gainers included Coal India, RIL, Vedanta, Tata Steel, Asian Paint, Hero MotoCorp, SBI, ONGC, Yes Bank, Bajaj Auto, ICICI Bank, M&M, Maruti Suzuki, Kotak Bank, Sun Pharma, Bajaj Finance, HUL, HDFC, L&T, ITC, Tata Motors, Axis Bank and HDFC Bank, rising up to 3.80 per cent. However, TCS, HCL Tech, NTPC, IndusInd Bank and Infosys ended in the negative zone with fall of up to 0.41 per cent. Barring IT, all the BSE sectoral indices ended in the green, with oil and gas index rising 2.85 per cent, metal 2.50 per cent, consumer durables 2.32 per cent, PSU 2.30 per cent, auto 2.24 per cent, power 2.04 per cent, infrastructure 1.75 per cent, healthcare 1.54 per cent, capital goods 1.19 percent, FMCG 1.05 per cent, realty 0.93 per cent, capital goods 0.95 per cent, bankex 0.92 per cent, FMCG 0.74 per cent and teck 0.53 per cent. The broader markets too displayed a firm trend with the BSE mid-cap index surging 1.96 per cent and the small-caps index rising 1.61 per cent as investors accumulated recently beaten down stocks available at prevailing attractive levels. Meanwhile, on a net basis, foreign institutional investors (FIIs) bought shares worth Rs 1,095.06 crore, while domestic institutional investors (DIIs) sold shares worth Rs 470.7 crore on Friday, provisional data showed. In afternoon trade, the rupee appreciated 21 paise to 69.93 against the dollar. A firming trend in the rest of Asia, as Chinese markets rebounded on hopes of more policy support for the slowing economy, and a higher opening in European shares also accelerated buying activity here, traders said. Shanghai Composite Index rallied 1.92 per cent, Japan's Nikkei gained 0.47 per cent, Hong Kong's Hang Seng was up 0.99 per cent and Korea's Kospi rose 0.03 per cent. Among European markets, Frankfurt's DAX rose 0.38 per cent, Paris CAC 40 advanced 0.32 per cent in their early deals, and London's FTSE too gained 0.77 per cent.

Sensex scales near 6-month peak, reclaims 37,000 mark in pre-poll rally 

Crude production is set to continue expanding in the United States thanks to shale oil, with the country becoming a net exporter from 2021, a development which should reinforce global energy security, the IEA said Monday.

"The second wave of the US shale revolution is coming," &nbsp;Fatih Birol, the executive director of the International Energy Agency, said in a statement.

New technology that allows for extracting oil and gas from shale rock formations has led to a boom in <a href="http://www.wionews.com/business-%26-economy/us-oil-exports-to-india-soar-ahead-of-sanctions-on-iran-151111">oil production in the United States</a> in recent years. With low production costs, that boom is set to continue.&nbsp;

The IEA forecasts the United States will account for two-thirds of the increase in global oil production and some three-quarters of the expansion of liquefied natural gas (LNG) over the next five years. &nbsp;

This will help the United States surpass Russia and nip at the heels of Saudi Arabia as the world's top exporter.

"This will shake up international oil and gas trade flows, with profound implications for the geopolitics of energy," said Birol.

Rising US shale production was one of the main drivers in the collapse in oil prices in 2014, from which the oil industry is just recovering.&nbsp;

Production outside the OPEC oil cartel is set to continue rising, according to the IEA, which sees it climbing by 6.1 million barrels per day (mbd) to 68.7 mbd in 2024. In addition to the United States, both Brazil and Norway are expected to increase output.

Meanwhile, OPEC output is expected to dip in 2019 and 2020, before resuming modest growth to 32 mbd in 2024.

Overall, global output is expected to rise by 5.9 mbd by 2024, with output in Iran expected to drop due to US sanctions and Venezuela thanks to its deep economic crisis.

The IEA also sees growth in demand for oil to ease, in particular, due to slowing expansion in China. Nevertheless, it sees demand increasing by an annual average of 1.2 mbd to 2024.&nbsp;

China and India will still account for nearly half of the global increase in oil demand, which is expected to rise by 7.1 mbd to 106.4 mbd in 2024.

Moreover, the IEA continues to see no peak in oil demand.&nbsp;

The petrochemicals sector and jet fuel will be the key drivers of growth, "more than offsetting a slowdown in gasoline due to efficiency gains and electric cars", said the IEA. &nbsp;

Crude production is set to continue expanding in the United States thanks to shale oil, with the country becoming a net exporter from 2021, a development which should reinforce global energy security, the IEA said Monday.

Crude production is set to continue expanding in the United States thanks to shale oil, with the country becoming a net exporter from 2021, a development which should reinforce global energy security, the IEA said Monday. "The second wave of the US shale revolution is coming," Fatih Birol, the executive director of the International Energy Agency, said in a statement. New technology that allows for extracting oil and gas from shale rock formations has led to a boom in oil production in the United States in recent years. With low production costs, that boom is set to continue. The IEA forecasts the United States will account for two-thirds of the increase in global oil production and some three-quarters of the expansion of liquefied natural gas (LNG) over the next five years. This will help the United States surpass Russia and nip at the heels of Saudi Arabia as the world's top exporter. "This will shake up international oil and gas trade flows, with profound implications for the geopolitics of energy," said Birol. Rising US shale production was one of the main drivers in the collapse in oil prices in 2014, from which the oil industry is just recovering. Production outside the OPEC oil cartel is set to continue rising, according to the IEA, which sees it climbing by 6.1 million barrels per day (mbd) to 68.7 mbd in 2024. In addition to the United States, both Brazil and Norway are expected to increase output. Meanwhile, OPEC output is expected to dip in 2019 and 2020, before resuming modest growth to 32 mbd in 2024. Overall, global output is expected to rise by 5.9 mbd by 2024, with output in Iran expected to drop due to US sanctions and Venezuela thanks to its deep economic crisis. The IEA also sees growth in demand for oil to ease, in particular, due to slowing expansion in China. Nevertheless, it sees demand increasing by an annual average of 1.2 mbd to 2024. China and India will still account for nearly half of the global increase in oil demand, which is expected to rise by 7.1 mbd to 106.4 mbd in 2024. Moreover, the IEA continues to see no peak in oil demand. The petrochemicals sector and jet fuel will be the key drivers of growth, "more than offsetting a slowdown in gasoline due to efficiency gains and electric cars", said the IEA.

US set to become net exporter of oil: International energy agency

The Sensex and the Nifty rose more than 1 per cent on Monday, led by energy stocks, as expectations that Prime Minister Narendra Modi-led coalition would return to power after the general election boosted sentiment.

India's ruling party alliance was likely to come within a few seats of winning a simple majority in parliament at the general election set to start on April 11, a nationwide opinion poll has shown.

The Sensex closed up 1.04 per cent at 37,054.1. The Nifty ended 1.20 per cent higher at 11,168.05, its highest level since September.

Index-heavyweight Reliance Industries Ltd rose 2.9 per cent while Bharti Airtel Ltd was the top percentage gainer on the NSE index, jumping 8.13 per cent.

&nbsp;

The Sensex and the Nifty rose more than 1 per cent on Monday, led by energy stocks, as expectations that Prime Minister Narendra Modi-led coalition would return to power after the general election boosted sentiment.

The Sensex and the Nifty rose more than 1 per cent on Monday, led by energy stocks, as expectations that Prime Minister Narendra Modi-led coalition would return to power after the general election boosted sentiment. India's ruling party alliance was likely to come within a few seats of winning a simple majority in parliament at the general election set to start on April 11, a nationwide opinion poll has shown. The Sensex closed up 1.04 per cent at 37,054.1. The Nifty ended 1.20 per cent higher at 11,168.05, its highest level since September. Index-heavyweight Reliance Industries Ltd rose 2.9 per cent while Bharti Airtel Ltd was the top percentage gainer on the NSE index, jumping 8.13 per cent.

Sensex, Nifty rise 1%; energy stocks drive gains

Turkey's economy entered its first recession in a decade, official data showed on Monday, just weeks before President Recep Tayyip Erdogan's government faces local elections where growth and inflation will be key issues for voters.

Economic output contracted by 2.4 per cent in the final three months of the year compared to the third quarter on a seasonally and calendar-adjusted basis, the Turkish Statistics Institute (TUIK) said.

That followed a drop in the third quarter as well. Two consecutive quarter-on-quarter contractions in economic output is widely considered to be the definition of a recession.

The economy shrank by 3 per cent in the fourth quarter of 2018 compared with the same period in the previous year.

Growth came in at 2.6 per cent for 2018 overall, but that was still much lower than the 7.4 per cent recorded in 2017, a turbulent period following the 2016 failed coup and terror attacks.

The flagging economy coupled with a currency crisis last year is sensitive issues for Erdogan and his ruling Justice and Development Party (AKP) before the vote on March 31. The Turkish leader has often boasted of the country's strong growth during his time in power.

Inflation has also remained high. It struck a 15-year peak in October at 25.24 per cent before falling below 20 per cent in February, with food prices hit particularly hard.

The last time Turkey entered a recession was in 20

Turkey's economy entered its first recession in a decade, official data showed on Monday, just weeks before President Recep Tayyip Erdogan's government faces local elections where growth and inflation will be key issues for voters.

Turkey's economy entered its first recession in a decade, official data showed on Monday, just weeks before President Recep Tayyip Erdogan's government faces local elections where growth and inflation will be key issues for voters. Economic output contracted by 2.4 per cent in the final three months of the year compared to the third quarter on a seasonally and calendar-adjusted basis, the Turkish Statistics Institute (TUIK) said. That followed a drop in the third quarter as well. Two consecutive quarter-on-quarter contractions in economic output is widely considered to be the definition of a recession. The economy shrank by 3 per cent in the fourth quarter of 2018 compared with the same period in the previous year. Growth came in at 2.6 per cent for 2018 overall, but that was still much lower than the 7.4 per cent recorded in 2017, a turbulent period following the 2016 failed coup and terror attacks. The flagging economy coupled with a currency crisis last year is sensitive issues for Erdogan and his ruling Justice and Development Party (AKP) before the vote on March 31. The Turkish leader has often boasted of the country's strong growth during his time in power. Inflation has also remained high. It struck a 15-year peak in October at 25.24 per cent before falling below 20 per cent in February, with food prices hit particularly hard. The last time Turkey entered a recession was in 20

Weeks before Erdogan to face election, Turkey's economy enters recession

Shares of Boeing Co slid 9 per cent in early trading on Monday as many airlines grounded the planemaker's best selling 737 MAX 8 passenger jet following the second deadly crash involving the plane.

A<a href="http://www.wionews.com/india-news/jet-airways-spicejet-to-be-questioned-on-boeing-b737-max-planes-after-ethiopian-crash-202539"> Nairobi-bound Boeing 737 MAX 8 </a>operated by Ethiopian Airlines crashed minutes after takeoff from Addis Ababa on Sunday, killing all 157 on board. The same model flown by Lion Air crashed off the coast of Indonesia in October, killing all 189 on board.

The Civil Aviation Administration of China ordered Chinese airlines to ground all Boeing 737 MAX 8 planes after the crash. The CAA said it would contact the U.S. Federal Aviation Administration and Boeing regarding the resumption of operations once they are assured that measures have been taken to ensure safety.

Ethiopian Airlines said it had grounded its 737 MAX 8 fleet until further notice as an "extra safety precaution" even though it did not know the cause of Sunday's crash.

The 737 MAX 8 uses LEAP-1B engines made by CFM International, a joint venture of General Electric Co and Safran SA. Shares in Safran also fell 1.6 percent on Monday.

Boeing said on Monday the investigation into the Ethiopian Airlines crash is in its early stages and there is no need to issue new guidance to operators of its 737 MAX 8 aircraft based on the information it has so far.

Shares of rival Airbus SE were up 0.5 pct.

Shares of Boeing Co slid 9 per cent in early trading on Monday as many airlines grounded the planemaker's best selling 737 MAX 8 passenger jet following the second deadly crash involving the plane.

Shares of Boeing Co slid 9 per cent in early trading on Monday as many airlines grounded the planemaker's best selling 737 MAX 8 passenger jet following the second deadly crash involving the plane. A Nairobi-bound Boeing 737 MAX 8 operated by Ethiopian Airlines crashed minutes after takeoff from Addis Ababa on Sunday, killing all 157 on board. The same model flown by Lion Air crashed off the coast of Indonesia in October, killing all 189 on board. The Civil Aviation Administration of China ordered Chinese airlines to ground all Boeing 737 MAX 8 planes after the crash. The CAA said it would contact the U.S. Federal Aviation Administration and Boeing regarding the resumption of operations once they are assured that measures have been taken to ensure safety. Ethiopian Airlines said it had grounded its 737 MAX 8 fleet until further notice as an "extra safety precaution" even though it did not know the cause of Sunday's crash. The 737 MAX 8 uses LEAP-1B engines made by CFM International, a joint venture of General Electric Co and Safran SA. Shares in Safran also fell 1.6 percent on Monday. Boeing said on Monday the investigation into the Ethiopian Airlines crash is in its early stages and there is no need to issue new guidance to operators of its 737 MAX 8 aircraft based on the information it has so far. Shares of rival Airbus SE were up 0.5 pct.

Boeing shares fall after second deadly 737 MAX 8 crash

The RBI in reply to an RTI query said it has no data on the old 500 and 1,000 rupee notes used to pay for utility bills such as fuel at petrol pumps, which are believed to have formed a good part of the demonetised currency that returned to the banking system.

After the November 8, 2016 shock decision to ban the use of old 500 and 1,000 rupee notes, the government had allowed the exchange of the junked notes, as well as they, were used for payment of utility bills for 23 services.

Both 500 and 1,000 rupee notes could be used at government hospitals, railway ticketing, public transport, airline ticketing at airports, milk booths, crematoria/burial grounds, petrol pumps, metro rail tickets, purchase of medicines on doctor prescription from the government and private pharmacies, LPG gas cylinders, railway catering, electricity and water bills, ASI monument entry tickets and highway toll.

On November 25, 2016, the exchange of old notes was stopped and the government allowed the use of only old 500 rupee notes at these utilities till December 15, 2016. The government, however, stopped the use of even this currency at petrol pumps and for the purchase of air tickets at airports abruptly with effect from December 2, 2016, after reports that they are&nbsp;becoming fronts for laundering of old currency notes.

In reply to the Right to Information (RTI) query, the RBI said: "information on (invalidated) notes used for paying utility bills is not available with us".

As much as 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, the RBI had stated in August last year, indicating that just a miniscule percentage of currency was left out of the system after the government's unprecedented note ban aimed at curbing black money and corruption.

Of the Rs 15.41 lakh crore worth Rs 500 and Rs 1,000 notes in circulation on November 8, 2016, when the note ban was announced, currency worth Rs 15.31 lakh crore have been returned.

On the issue of number and value of invalidated or demonetised currency notes being exchanged, the RBI in the RTI reply referred to a November 28, 2016 press statement where it had stated that "Banks have since reported that such exchange/deposits effected from November 10, 2016, upto November 27, 2016 amounted to Rs 8,44,982 crore (exchange amounted to Rs 33,948 crore and deposits amounted to Rs 8,11,033 crore).

"The facility of exchange of Specified Bank Notes at banks' counter was available up to November 24, 2016," it said.

Specified Bank Notes or SBN is the term used to denote the demonetised currency which was allowed to be deposited in bank accounts till December 30, 2016.

The Reserve Bank of India also said it did not have information on the number of SBNs used to buy KYC-compliant instruments like insurance policies.

The central bank referred a part of the RTI to the Insurance Regulatory and Development Authority of India (IRDAI) which also stated that it does not have information on old notes used to pay for insurance policies as "it is not maintained by the Authority".&nbsp;

The RBI in reply to an RTI query said it has no data on the old 500 and 1,000 rupee notes used to pay for utility bills such as fuel at petrol pumps, which are believed to have formed a good part of the demonetised currency that returned to the banking system.

The RBI in reply to an RTI query said it has no data on the old 500 and 1,000 rupee notes used to pay for utility bills such as fuel at petrol pumps, which are believed to have formed a good part of the demonetised currency that returned to the banking system. After the November 8, 2016 shock decision to ban the use of old 500 and 1,000 rupee notes, the government had allowed the exchange of the junked notes, as well as they, were used for payment of utility bills for 23 services. Both 500 and 1,000 rupee notes could be used at government hospitals, railway ticketing, public transport, airline ticketing at airports, milk booths, crematoria/burial grounds, petrol pumps, metro rail tickets, purchase of medicines on doctor prescription from the government and private pharmacies, LPG gas cylinders, railway catering, electricity and water bills, ASI monument entry tickets and highway toll. On November 25, 2016, the exchange of old notes was stopped and the government allowed the use of only old 500 rupee notes at these utilities till December 15, 2016. The government, however, stopped the use of even this currency at petrol pumps and for the purchase of air tickets at airports abruptly with effect from December 2, 2016, after reports that they are becoming fronts for laundering of old currency notes. In reply to the Right to Information (RTI) query, the RBI said: "information on (invalidated) notes used for paying utility bills is not available with us". As much as 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, the RBI had stated in August last year, indicating that just a miniscule percentage of currency was left out of the system after the government's unprecedented note ban aimed at curbing black money and corruption. Of the Rs 15.41 lakh crore worth Rs 500 and Rs 1,000 notes in circulation on November 8, 2016, when the note ban was announced, currency worth Rs 15.31 lakh crore have been returned. On the issue of number and value of invalidated or demonetised currency notes being exchanged, the RBI in the RTI reply referred to a November 28, 2016 press statement where it had stated that "Banks have since reported that such exchange/deposits effected from November 10, 2016, upto November 27, 2016 amounted to Rs 8,44,982 crore (exchange amounted to Rs 33,948 crore and deposits amounted to Rs 8,11,033 crore). "The facility of exchange of Specified Bank Notes at banks' counter was available up to November 24, 2016," it said. Specified Bank Notes or SBN is the term used to denote the demonetised currency which was allowed to be deposited in bank accounts till December 30, 2016. The Reserve Bank of India also said it did not have information on the number of SBNs used to buy KYC-compliant instruments like insurance policies. The central bank referred a part of the RTI to the Insurance Regulatory and Development Authority of India (IRDAI) which also stated that it does not have information on old notes used to pay for insurance policies as "it is not maintained by the Authority".

RBI says no data on demonetised 500, 1,000 notes used at petrol pumps

A savvy investor who managed to time the start of Wall Street's bull market a decade ago - and hold on since then - would now be sitting on a handsome windfall.

Born in the ashes of the financial crisis, Wall Street's oldest-ever bull market turns 10 years old on Saturday, with the S&amp;P 500 tripling in value and amply rewarding investors who have owned funds tracking the index for that period.

The S&amp;P 500's post-crisis low close was 676.53 points on March 9, 2009. During the previous session on March 6, it touched an intraday low of 666.79, which came to be known as the "devil's low."

On Friday, the benchmark index closed at 2,743.07, down 2 per cent for the week.

Extraordinary efforts by the US Federal Reserve to foster an economic recovery from the financial crisis through asset purchases and rock-bottom interest rates have provided essential support for the market during its bull run. Sweeping corporate tax cuts passed by President Donald Trump fuelled market gains for much of 2018, before a steep sell-off starting in September that raised fears the bull run was coming to the end.

Investors who bought and kept shares in cosmetics retailer Ulta Beauty on March 9, 2009, would have seen their investment gain nearly 7,000 per cent during that time, more than any other stock on the S&amp;P 500. Netflix is the second biggest performer over the past decade, up over 6,000 per cent.

At the other extreme, telecommunications company CenturyLink has slumped almost 50 per cent since the start of the bull run, more than any other stock still in the S&amp;P 500.

The S&amp;P 500 has turned in a handsome annualised return of 15 per cent during the bull market, with the consumer discretionary and information technology indexes each up about 20 per cent annually.

But timing is everything. An investor who bought the S&amp;P 500 a year before the bull market began would have had to weather steep losses, trimming the S&amp;P 500's annualised return since then to 7 per cent and narrowing the consumer discretionary and information technology sectors' annualised gains to 12 per cent.

With analysts slashing estimates for US&nbsp;banks and other multinationals, the S&amp;P 500 traded at a low-point of 10.6 times expected earnings in December 2008, before Wall Street's bear market ended and turned the corner. It is now trading at 16.5 times expected earnings, according to Refinitiv.

After dropping 19.8 per cent from its record high close on Sept. 20 through Dec. 24, the S&amp;P 500 has slowly recovered and is now just 7 per cent short of regaining that high.

A savvy investor who managed to time the start of Wall Street's bull market a decade ago - and hold on since then - would now be sitting on a handsome windfall. Born in the ashes of the financial crisis, Wall Street's oldest-ever bull market turns 10 years old on Saturday, with the S&P 500 tripling in value and amply rewarding investors who have owned funds tracking the index for that period.

A savvy investor who managed to time the start of Wall Street's bull market a decade ago - and hold on since then - would now be sitting on a handsome windfall. Born in the ashes of the financial crisis, Wall Street's oldest-ever bull market turns 10 years old on Saturday, with the S&P 500 tripling in value and amply rewarding investors who have owned funds tracking the index for that period. The S&P 500's post-crisis low close was 676.53 points on March 9, 2009. During the previous session on March 6, it touched an intraday low of 666.79, which came to be known as the "devil's low." On Friday, the benchmark index closed at 2,743.07, down 2 per cent for the week. Extraordinary efforts by the US Federal Reserve to foster an economic recovery from the financial crisis through asset purchases and rock-bottom interest rates have provided essential support for the market during its bull run. Sweeping corporate tax cuts passed by President Donald Trump fuelled market gains for much of 2018, before a steep sell-off starting in September that raised fears the bull run was coming to the end. Investors who bought and kept shares in cosmetics retailer Ulta Beauty on March 9, 2009, would have seen their investment gain nearly 7,000 per cent during that time, more than any other stock on the S&P 500. Netflix is the second biggest performer over the past decade, up over 6,000 per cent. At the other extreme, telecommunications company CenturyLink has slumped almost 50 per cent since the start of the bull run, more than any other stock still in the S&P 500. The S&P 500 has turned in a handsome annualised return of 15 per cent during the bull market, with the consumer discretionary and information technology indexes each up about 20 per cent annually. But timing is everything. An investor who bought the S&P 500 a year before the bull market began would have had to weather steep losses, trimming the S&P 500's annualised return since then to 7 per cent and narrowing the consumer discretionary and information technology sectors' annualised gains to 12 per cent. With analysts slashing estimates for US banks and other multinationals, the S&P 500 traded at a low-point of 10.6 times expected earnings in December 2008, before Wall Street's bear market ended and turned the corner. It is now trading at 16.5 times expected earnings, according to Refinitiv. After dropping 19.8 per cent from its record high close on Sept. 20 through Dec. 24, the S&P 500 has slowly recovered and is now just 7 per cent short of regaining that high.

Wall Street's oldest-ever bull market turns ten years old