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The consumer price index in China fell to its lowest level in a year last month, while producer prices hardly budged, according to figures published Saturday by the National Bureau of Statistics.

The consumer price index (CPI) -- a key measure of retail inflation -- rose just 1.5 per cent in February year-on-year, compared with 1.7 per cent in January. It has now declined for four consecutive months and is at its lowest point since January 2018.

China is grappling with a decline in global demand -- notably from the United States, which launched a trade war against Beijing last summer.&nbsp;

Growth in China dropped to 6.6 per cent last year, its lowest level in 28 years. The government this week announced it is aiming for growth of between just 6 and 6.5 per cent this year.

The producer price index (PPI) -- an important barometer of domestic demand -- edged up by only 0.1 per cent in February, in a further sign the Asian giant's economy is slowing.&nbsp;

That figure, matching January results, is the lowest for more than two years. The indicator has been in constant retreat for seven months.&nbsp;

The increase in consumer prices is in line with analyst forecasts, but the rise in producer prices is weaker than expected. A Bloomberg news survey found an average forecast growth of 0.2 per cent by economists.

"CPI inflation will most likely remain far below the 2019 government target of 3.0 per cent," said Nomura economist Ting Lu in a note.

Production prices could fall into negative territory this year, he added.

"Disinflation continues, and deflation in the manufacturing sector may be around the corner," said Hong Kong economist David Qu, according to Bloomberg.

"The weak consumer and producer price data underline the need for continued government support for the economy," he added.

Faced with a slowdown in activity, Premier Minister Li Keqiang announced a series of support measures on Tuesday including a reduction in company charges and VAT.

The consumer price index in China fell to its lowest level in a year last month, while producer prices hardly budged, according to figures published Saturday by the National Bureau of Statistics.

The consumer price index in China fell to its lowest level in a year last month, while producer prices hardly budged, according to figures published Saturday by the National Bureau of Statistics. The consumer price index (CPI) -- a key measure of retail inflation -- rose just 1.5 per cent in February year-on-year, compared with 1.7 per cent in January. It has now declined for four consecutive months and is at its lowest point since January 2018. China is grappling with a decline in global demand -- notably from the United States, which launched a trade war against Beijing last summer. Growth in China dropped to 6.6 per cent last year, its lowest level in 28 years. The government this week announced it is aiming for growth of between just 6 and 6.5 per cent this year. The producer price index (PPI) -- an important barometer of domestic demand -- edged up by only 0.1 per cent in February, in a further sign the Asian giant's economy is slowing. That figure, matching January results, is the lowest for more than two years. The indicator has been in constant retreat for seven months. The increase in consumer prices is in line with analyst forecasts, but the rise in producer prices is weaker than expected. A Bloomberg news survey found an average forecast growth of 0.2 per cent by economists. "CPI inflation will most likely remain far below the 2019 government target of 3.0 per cent," said Nomura economist Ting Lu in a note. Production prices could fall into negative territory this year, he added. "Disinflation continues, and deflation in the manufacturing sector may be around the corner," said Hong Kong economist David Qu, according to Bloomberg. "The weak consumer and producer price data underline the need for continued government support for the economy," he added. Faced with a slowdown in activity, Premier Minister Li Keqiang announced a series of support measures on Tuesday including a reduction in company charges and VAT.

China consumer price index at lowest level in a year

The rupee opened 18 paise lower at 70.18 against the US dollar Friday on increased demand for the greenback from importers and banks amid lower opening of domestic equities.

Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency.

However, fresh foreign fund inflows, easing crude prices supported the rupee and restricted the fall.

The rupee opened weak at 70.18 at the interbank forex market, down 18 paise from its last close. The local currency, however, pared the initial loss and was trading at 70.11.

On Thursday, the rupee had strengthened 28 paise to close at 70 against the US dollar.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,137.85 crore Thursday, as per provisional data.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.74 per cent to $65.81 per barrel.

Indian bourses declined in early trade Friday with benchmark indices Sensex trading 62.24 points down at 36,663.18 and Nifty down 21.10 points at 11,031.65.

The rupee opened 18 paise lower at 70.18 against the US dollar Friday on increased demand for the greenback from importers and banks amid lower opening of domestic equities.

The rupee opened 18 paise lower at 70.18 against the US dollar Friday on increased demand for the greenback from importers and banks amid lower opening of domestic equities. Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency. However, fresh foreign fund inflows, easing crude prices supported the rupee and restricted the fall. The rupee opened weak at 70.18 at the interbank forex market, down 18 paise from its last close. The local currency, however, pared the initial loss and was trading at 70.11. On Thursday, the rupee had strengthened 28 paise to close at 70 against the US dollar. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,137.85 crore Thursday, as per provisional data. Meanwhile, Brent crude futures, the global oil benchmark, fell 0.74 per cent to $65.81 per barrel. Indian bourses declined in early trade Friday with benchmark indices Sensex trading 62.24 points down at 36,663.18 and Nifty down 21.10 points at 11,031.65.

Rupee opens 18 paise lower at 70.18 against US dollar

The BSE benchmark Sensex Friday started on a negative note tracking weak cues from other Asian markets amid heavy selling by domestic institutional investors and depreciating rupee.

After falling over 100 points, the 30-share index was trading 64.70 points, or 0.18 per cent, to 36,660.72. Similarly, the 50-share NSE Nifty fell 19.90 points, or 0.18 per cent, to 11,038.30.

Sensex had climbed 89.32 points or 0.24 per cent to finish at 36,725.42 in the previous session, while the broader NSE Nifty inched up 5.20 points or 0.05 per cent to 11,058.20.

Top losers in the Sensex pack in the early session include Tata Motors, HCL Tech, Vedanta, Infosys, ONGC, Tata Steel, Hero MotoCorp, Maruti, Asian Paints and RIL, falling up to 2.30 per cent.

On the other hand, NTPC, M&amp;M, Bajaj Auto, ITC, Bharti Airtel, Sun Pharma, SBI, HUL, TCS and L&amp;T were among the top gainers, rising up to 2.64 per cent.

Meanwhile, on a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 1,137.85 crore on Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 925.46 crore, provisional data available with BSE showed.

According to traders, heavy DII outflow, weak global cues after the European Central Bank (ECB) has slashed its forecast for economic growth and inflation in the 19-country eurozone, and depreciating domestic currency against the US dollar weighed on investor sentiment here.

The ECB now expects growth of 1.1 per cent this year, down from its earlier forecast for 1.7 per cent. Inflation is also expected to be lower, at 1.2 per cent compared with 1.6 per cent forecast earlier.

The central bank's President Mario Draghi announced the reduction after Thursday's policy meeting, where the bank took several steps to support a weakening economy.

Elsewhere in Asia, Hong Kong's Hang Seng fell 1.48 per cent, Shanghai Composite Index cracked 2.90 per cent higher, Kospi was down 1.04 per cent, and Japan's Nikkei dropped 1.83 per cent in early trade.

On Wall Street, Dow Jones Industrial Average ended 0.78 per cent lower on Thursday.

The rupee, meanwhile, was depreciated 13 paise against US dollar to 70.13.

The benchmark Brent crude futures slipped 0.71 per cent to $65.83 per barrel.

The BSE benchmark Sensex Friday started on a negative note tracking weak cues from other Asian markets amid heavy selling by domestic institutional investors and depreciating rupee.

The BSE benchmark Sensex Friday started on a negative note tracking weak cues from other Asian markets amid heavy selling by domestic institutional investors and depreciating rupee. After falling over 100 points, the 30-share index was trading 64.70 points, or 0.18 per cent, to 36,660.72. Similarly, the 50-share NSE Nifty fell 19.90 points, or 0.18 per cent, to 11,038.30. Sensex had climbed 89.32 points or 0.24 per cent to finish at 36,725.42 in the previous session, while the broader NSE Nifty inched up 5.20 points or 0.05 per cent to 11,058.20. Top losers in the Sensex pack in the early session include Tata Motors, HCL Tech, Vedanta, Infosys, ONGC, Tata Steel, Hero MotoCorp, Maruti, Asian Paints and RIL, falling up to 2.30 per cent. On the other hand, NTPC, M&M, Bajaj Auto, ITC, Bharti Airtel, Sun Pharma, SBI, HUL, TCS and L&T were among the top gainers, rising up to 2.64 per cent. Meanwhile, on a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 1,137.85 crore on Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 925.46 crore, provisional data available with BSE showed. According to traders, heavy DII outflow, weak global cues after the European Central Bank (ECB) has slashed its forecast for economic growth and inflation in the 19-country eurozone, and depreciating domestic currency against the US dollar weighed on investor sentiment here. The ECB now expects growth of 1.1 per cent this year, down from its earlier forecast for 1.7 per cent. Inflation is also expected to be lower, at 1.2 per cent compared with 1.6 per cent forecast earlier. The central bank's President Mario Draghi announced the reduction after Thursday's policy meeting, where the bank took several steps to support a weakening economy. Elsewhere in Asia, Hong Kong's Hang Seng fell 1.48 per cent, Shanghai Composite Index cracked 2.90 per cent higher, Kospi was down 1.04 per cent, and Japan's Nikkei dropped 1.83 per cent in early trade. On Wall Street, Dow Jones Industrial Average ended 0.78 per cent lower on Thursday. The rupee, meanwhile, was depreciated 13 paise against US dollar to 70.13. The benchmark Brent crude futures slipped 0.71 per cent to $65.83 per barrel.

Sensex, Nifty turn negative on weak global cues

The Enforcement Directorate (ED) is investigating Philip Morris International Inc and its Indian partner Godfrey Phillips for alleged violation of laws in India, a senior directorate source told Reuters on Thursday.

The Enforcement Directorate has been looking into both the companies and the scope of the investigation is much broader than the alleged foreign investment law violations highlighted in a Reuters story published on Wednesday, the source said.

Philip Morris has for years paid manufacturing costs to Godfrey Phillips to make its Marlboro cigarettes, circumventing a nine-year-old government ban on foreign direct investment in the industry, Reuters reported based on a review of dozens of internal company documents, which were dated between May 2009 and January 2018.

Three former officials and one former head of the Enforcement Directorate had reviewed the Philip Morris documents for Reuters and said the dealings should be investigated for circumventing India's foreign investment rules.

On Friday, the Enforcement Directorate source declined to comment on whether the ongoing investigation included Reuters reporting findings, but said "this is already under investigation."

"Both companies are being looked into," said the source, who declined to be named citing sensitivity of the investigation.

The Enforcement Directorate (ED) is investigating Philip Morris International Inc and its Indian partner Godfrey Phillips for alleged violation of laws in India, a senior directorate source told Reuters on Thursday.

The Enforcement Directorate (ED) is investigating Philip Morris International Inc and its Indian partner Godfrey Phillips for alleged violation of laws in India, a senior directorate source told Reuters on Thursday. The Enforcement Directorate has been looking into both the companies and the scope of the investigation is much broader than the alleged foreign investment law violations highlighted in a Reuters story published on Wednesday, the source said. Philip Morris has for years paid manufacturing costs to Godfrey Phillips to make its Marlboro cigarettes, circumventing a nine-year-old government ban on foreign direct investment in the industry, Reuters reported based on a review of dozens of internal company documents, which were dated between May 2009 and January 2018. Three former officials and one former head of the Enforcement Directorate had reviewed the Philip Morris documents for Reuters and said the dealings should be investigated for circumventing India's foreign investment rules. On Friday, the Enforcement Directorate source declined to comment on whether the ongoing investigation included Reuters reporting findings, but said "this is already under investigation." "Both companies are being looked into," said the source, who declined to be named citing sensitivity of the investigation.

India's Enforcement Directorate investigates Philip Morris, Godfrey Phillips: Report

The BSE benchmark Sensex snapped its four-day rising streak Friday to end marginally lower on losses in IT and metal stocks as investors turned cautious amid weak overseas cues.

The 30-share index 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.

Tata Motors was the biggest loser in the Sensex pack Friday, tumbling 3.99 per cent, followed by HCL Tech, Tata Steel, Vedanta, Infosys, ONGC, Asian Paints, Maruti and L&amp;T that shed up to 2.53 per cent.

NTPC was the top gainer, spurting 4.28 per cent.

Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent. 
Sectorally, the BSE metal index witnessed most losses, falling 1.57 per cent, followed by IT and tech.

Broader indices followed the benchmarks, with the BSE Midcap index and the small-cap gauge ending marginally lower.

Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 1,137.85 crore on Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 925.46 crore, provisional data available with BSE showed.

"The momentum in domestic market was capped due to the renewed concern in global economy. Moderation in GDP growth by ECB and weak export data from China impacted the global sentiment," said Vinod Nair, Head of Research, Geojit Financial Services.

"But Indian rupee strengthened supported by FII liquidity and benign oil prices, portraying the positive undercurrent in the domestic market," he added.

Global equities witnessed a selloff after the European Central Bank (ECB) slashed its forecast for economic growth and inflation in the 19-country euro zone.

The ECB now expects growth of 1.1 per cent this year, down from its earlier forecast for 1.7 per cent. Inflation is also expected to be lower at 1.2 per cent compared with 1.6 per cent forecast earlier.

Elsewhere in Asia, Hong Kong's Hang Seng cracked 1.91 per cent, Shanghai Composite Index plunged 4.40 per cent and Korea's Kospi fell 1.31 per cent. Japan's Nikkei ended 2.01 per cent lower.

In the Eurozone, Frankfurt's DAX was down 0.49 per cent, Paris CAC 40 shed 0.36 per cent, and London's FTSE fell 0.66 per cent in early deals.

Oil market benchmark Brent crude futures fell 1.63 per cent to $65.22 per barrel.

Meanwhile, the rupee appreciated 7 paise to 69.93 against the US dollar intra-day.&nbsp;

The BSE benchmark Sensex snapped its four-day rising streak Friday to end marginally lower on losses in IT and metal stocks as investors turned cautious amid weak overseas cues.

The BSE benchmark Sensex snapped its four-day rising streak Friday to end marginally lower on losses in IT and metal stocks as investors turned cautious amid weak overseas cues. The 30-share index 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. Tata Motors was the biggest loser in the Sensex pack Friday, tumbling 3.99 per cent, followed by HCL Tech, Tata Steel, Vedanta, Infosys, ONGC, Asian Paints, Maruti and L&T that shed up to 2.53 per cent. NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent. Sectorally, the BSE metal index witnessed most losses, falling 1.57 per cent, followed by IT and tech. Broader indices followed the benchmarks, with the BSE Midcap index and the small-cap gauge ending marginally lower. Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 1,137.85 crore on Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 925.46 crore, provisional data available with BSE showed. "The momentum in domestic market was capped due to the renewed concern in global economy. Moderation in GDP growth by ECB and weak export data from China impacted the global sentiment," said Vinod Nair, Head of Research, Geojit Financial Services. "But Indian rupee strengthened supported by FII liquidity and benign oil prices, portraying the positive undercurrent in the domestic market," he added. Global equities witnessed a selloff after the European Central Bank (ECB) slashed its forecast for economic growth and inflation in the 19-country euro zone. The ECB now expects growth of 1.1 per cent this year, down from its earlier forecast for 1.7 per cent. Inflation is also expected to be lower at 1.2 per cent compared with 1.6 per cent forecast earlier. Elsewhere in Asia, Hong Kong's Hang Seng cracked 1.91 per cent, Shanghai Composite Index plunged 4.40 per cent and Korea's Kospi fell 1.31 per cent. Japan's Nikkei ended 2.01 per cent lower. In the Eurozone, Frankfurt's DAX was down 0.49 per cent, Paris CAC 40 shed 0.36 per cent, and London's FTSE fell 0.66 per cent in early deals. Oil market benchmark Brent crude futures fell 1.63 per cent to $65.22 per barrel. Meanwhile, the rupee appreciated 7 paise to 69.93 against the US dollar intra-day.

Markets snap 4-day winning streak on weak global cues

India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about <a href="http://www.wionews.com/india-news/india-is-major-buyer-of-iran-oil-us-says-it-may-not-waive-sanctions-after-may-189907">extending a waiver of US&nbsp;sanctions</a> past early May, two sources in India with knowledge of the matter said.

India has reduced its purchases of Iranian oil, but has been in talks on extending a sanctions waiver, known as a significant reduction exception, a senior India official said in January.

The talks come just as trade tensions rise between Washington and New Delhi. The United States is planning to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.

India is the biggest beneficiary of the Generalized System of Preferences, which dates from the 1970s, and ending its participation would be the strongest punitive action that Washington has taken against the country since President Donald Trump took office.

Amid this, New Delhi is asking Washington to be allowed to still buy Iranian oil at current levels of around 1.25 million tonnes per month, equal to about 300,000 bpd, the sources said.

The United States reimposed sanctions against Iran last November in a dispute over Tehran's nuclear and missile ambitions, after President Donald Trump pulled Washington out of a 2015 nuclear deal between Iran and six world powers.

Although the United States granted Iran's biggest oil customers - China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece - waivers that have allowed them to continue limited imports, Washington is putting pressure on governments to eventually reduce purchases of Iranian oil to zero. The first round of waivers expires around May 4.

Vincent Campos, a spokesman at the US&nbsp;State Department's energy bureau, would not confirm that India was asking the United States to renew its waiver, but said talks are ongoing with the eight consumers of Iran's oil that received waivers in November with the aim of eventually cutting imports to zero.

"We continue to have bilateral discussions" with each of the countries, including India, Campos said.

A US&nbsp;State Department official is this week visiting South Korea, Iran's fourth largest oil customer in Asia, to talk about sanctions, Seoul said.

David Peyman, a deputy assistant secretary for counter threat finance and sanctions, met on Wednesday with Hong Jin-wook, an official specializing in African and Middle Eastern affairs at South Korea's foreign ministry.

Peyman offered "to continue to closely consult on the extension of sanctions exemption and Korean companies’ technical issues regarding trade with Iran," a statement from Seoul's foreign ministry said.

The US&nbsp;State Department did not immediately respond to questions about their talks.

Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), exported almost 3 million bpd of oil at its pre-sanctions peak, but that has dwindled to around 1.25 million bpd since the start of the year, shipping data from Refinitiv showed.

Talks with Washington on extending the waiver slowed due to the US&nbsp;government shutdown that extended through January, one of the Indian sources said. Talks have now resumed and India wants to get clarity before general elections scheduled in May, the source said.

No immediate comment was available from India's oil or external affairs ministries.

Iran was India's seventh biggest oil supplier in January, as compared with its position as third-biggest a year ago before the reimposition of sanctions.

India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a waiver of US sanctions past early May, two sources in India with knowledge of the matter said.

India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a waiver of US sanctions past early May, two sources in India with knowledge of the matter said. India has reduced its purchases of Iranian oil, but has been in talks on extending a sanctions waiver, known as a significant reduction exception, a senior India official said in January. The talks come just as trade tensions rise between Washington and New Delhi. The United States is planning to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States. India is the biggest beneficiary of the Generalized System of Preferences, which dates from the 1970s, and ending its participation would be the strongest punitive action that Washington has taken against the country since President Donald Trump took office. Amid this, New Delhi is asking Washington to be allowed to still buy Iranian oil at current levels of around 1.25 million tonnes per month, equal to about 300,000 bpd, the sources said. The United States reimposed sanctions against Iran last November in a dispute over Tehran's nuclear and missile ambitions, after President Donald Trump pulled Washington out of a 2015 nuclear deal between Iran and six world powers. Although the United States granted Iran's biggest oil customers - China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece - waivers that have allowed them to continue limited imports, Washington is putting pressure on governments to eventually reduce purchases of Iranian oil to zero. The first round of waivers expires around May 4. Vincent Campos, a spokesman at the US State Department's energy bureau, would not confirm that India was asking the United States to renew its waiver, but said talks are ongoing with the eight consumers of Iran's oil that received waivers in November with the aim of eventually cutting imports to zero. "We continue to have bilateral discussions" with each of the countries, including India, Campos said. A US State Department official is this week visiting South Korea, Iran's fourth largest oil customer in Asia, to talk about sanctions, Seoul said. David Peyman, a deputy assistant secretary for counter threat finance and sanctions, met on Wednesday with Hong Jin-wook, an official specializing in African and Middle Eastern affairs at South Korea's foreign ministry. Peyman offered "to continue to closely consult on the extension of sanctions exemption and Korean companies’ technical issues regarding trade with Iran," a statement from Seoul's foreign ministry said. The US State Department did not immediately respond to questions about their talks. Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), exported almost 3 million bpd of oil at its pre-sanctions peak, but that has dwindled to around 1.25 million bpd since the start of the year, shipping data from Refinitiv showed. Talks with Washington on extending the waiver slowed due to the US government shutdown that extended through January, one of the Indian sources said. Talks have now resumed and India wants to get clarity before general elections scheduled in May, the source said. No immediate comment was available from India's oil or external affairs ministries. Iran was India's seventh biggest oil supplier in January, as compared with its position as third-biggest a year ago before the reimposition of sanctions.

Amid rising trade tensions with US, India seeks to extend Iran oil sanctions waiver

The trade deficit between India and the US decreased by $1.6 billion, almost seven per cent, in 2018 as compared to the previous year, according to the latest official figures.

India recorded a decrease in the deficit from $22.9 billion in 2017 to $21.3 billion in 2018, according to the latest figures revealed by the Bureau of Economy Analysis on Wednesday.

Also read:<a href="http://www.wionews.com/business-economy/i-intend-to-end-indias-preferential-trade-treatment-under-gsp-program-trump-201179"> I intend to end preferential trade status for India, Turkey, says Trump</a>

The US trade deficit in goods and services increased by $9.5 billion from $50.3 billion in November to $59.8 billion in December, according to the figures.

For 2018, the US goods and services deficit was $621.0 billion, up $68.8 billion from $552.3 billion in 2017. Exports were $2,500.0 billion in 2018, up $148.9 billion from 2017. Imports were $3,121.0 billion, up $217.7 billion from 2017, it said.

The figures showed that the goods deficit hit $891.3 billion in 2018, the largest in US history. America's goods deficit with China hit a record $419.2 billion last year.

Opposition Democratic party were quick in criticising US President Donald Trump.

"Today's announcement that the merchandise trade deficit for 2018 topped $891 billion shows that the President has flunked the test he set for himself,"&nbsp;said House Majority Leader Steny H Hoyer.&nbsp;

Alliance for American Manufacturing president Scott Paul in a statement criticised President Donald Trump for his policies that have resulted in a record trade deficit.&nbsp;

"Perhaps Donald Trump will now discover that tweets and bluster alone won't dramatically shrink the trade deficit," he said.

"The selective interventions of the administration on trade have been helpful to key sectors, but these actions haven't put a dent in the massive deficit. The administration's fiscal policies have helped to boost the trade deficit, as has its reluctance to engage more actively in exchange rate misalignment," he said.

"While the trade deficit results from many factors, the staggering sum represents lost opportunities for American workers and businesses," Paul said. 
"If the president wants to back his words with actions, any trade deal with China will insist on dramatic, structural changes in Beijing's state-led economy, which have

contributed to massive industrial overcapacity in key sectors. The next few weeks of negotiations with China are critical to the future of American manufacturing. We can't afford a deal that doesn't deliver real and lasting change," Paul said.

The trade deficit between India and the US decreased by $1.6 billion, almost seven per cent, in 2018 as compared to the previous year, according to the latest official figures.

The trade deficit between India and the US decreased by $1.6 billion, almost seven per cent, in 2018 as compared to the previous year, according to the latest official figures. India recorded a decrease in the deficit from $22.9 billion in 2017 to $21.3 billion in 2018, according to the latest figures revealed by the Bureau of Economy Analysis on Wednesday. Also read: I intend to end preferential trade status for India, Turkey, says Trump The US trade deficit in goods and services increased by $9.5 billion from $50.3 billion in November to $59.8 billion in December, according to the figures. For 2018, the US goods and services deficit was $621.0 billion, up $68.8 billion from $552.3 billion in 2017. Exports were $2,500.0 billion in 2018, up $148.9 billion from 2017. Imports were $3,121.0 billion, up $217.7 billion from 2017, it said. The figures showed that the goods deficit hit $891.3 billion in 2018, the largest in US history. America's goods deficit with China hit a record $419.2 billion last year. Opposition Democratic party were quick in criticising US President Donald Trump. "Today's announcement that the merchandise trade deficit for 2018 topped $891 billion shows that the President has flunked the test he set for himself," said House Majority Leader Steny H Hoyer. Alliance for American Manufacturing president Scott Paul in a statement criticised President Donald Trump for his policies that have resulted in a record trade deficit. "Perhaps Donald Trump will now discover that tweets and bluster alone won't dramatically shrink the trade deficit," he said. "The selective interventions of the administration on trade have been helpful to key sectors, but these actions haven't put a dent in the massive deficit. The administration's fiscal policies have helped to boost the trade deficit, as has its reluctance to engage more actively in exchange rate misalignment," he said. "While the trade deficit results from many factors, the staggering sum represents lost opportunities for American workers and businesses," Paul said. "If the president wants to back his words with actions, any trade deal with China will insist on dramatic, structural changes in Beijing's state-led economy, which have contributed to massive industrial overcapacity in key sectors. The next few weeks of negotiations with China are critical to the future of American manufacturing. We can't afford a deal that doesn't deliver real and lasting change," Paul said.

US trade deficit with India decreased by $1.6 billion in 2018

The rupee appreciated by 30 paise to 69.98 against the US dollar in opening trade Thursday, driven by foreign inflows and positive opening in domestic equities.

The rupee opened strong at 70.08 at the interbank forex market and then gained further ground and touched 69.98, a gain of 30 paise over its last close.

Forex dealers said selling of the American currency by exporters supported the rupee, but rising crude prices weighed on the local unit and capped the upmove.

Besides, fresh foreign fund inflows also boosted sentiments in domestic the forex market, they added.

The rupee Wednesday had strengthened by 21 paise to close at 70.28 against the US dollar.

Meanwhile, foreign investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,130.78 crore on a net basis Wednesday, as per provisional data.

Brent crude futures, the global oil benchmark, rose 0.48 per cent to trade at $66.31 per barrel.

Meanwhile, the benchmark BSE Sensex was trading higher by 49.01 points, or 0.13 per cent, to quote at 36,685.11 in early trade, while the NSE Nifty was quoted at 11,057.25, up by 4.25 points, or 0.04 per cent.

The rupee appreciated by 30 paise to 69.98 against the US dollar in opening trade Thursday, driven by foreign inflows and positive opening in domestic equities. The rupee opened strong at 70.

The rupee appreciated by 30 paise to 69.98 against the US dollar in opening trade Thursday, driven by foreign inflows and positive opening in domestic equities. The rupee opened strong at 70.08 at the interbank forex market and then gained further ground and touched 69.98, a gain of 30 paise over its last close. Forex dealers said selling of the American currency by exporters supported the rupee, but rising crude prices weighed on the local unit and capped the upmove. Besides, fresh foreign fund inflows also boosted sentiments in domestic the forex market, they added. The rupee Wednesday had strengthened by 21 paise to close at 70.28 against the US dollar. Meanwhile, foreign investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,130.78 crore on a net basis Wednesday, as per provisional data. Brent crude futures, the global oil benchmark, rose 0.48 per cent to trade at $66.31 per barrel. Meanwhile, the benchmark BSE Sensex was trading higher by 49.01 points, or 0.13 per cent, to quote at 36,685.11 in early trade, while the NSE Nifty was quoted at 11,057.25, up by 4.25 points, or 0.04 per cent.

Rupee surges 30 paise against US dollar in early trade

Indian bourses continued their rising spree to the fourth session on Thursday, with both benchmarks Sensex and Nifty opening higher amid strengthening of country's macroeconomic outlook following rising rupee and falling crude prices.

The 30-share BSE Sensex was trading higher by 63.75 points, or 0.17 per cent, at 36,699.85.

Similarly, the NSE's 50-scrip Nifty was quoted higher by 6.80 points, or 0.062 per cent, at 11,059.80.

PowerGrid, HUL, Reliance were among the top gainers on the BSE Sensex.

The Sensex had gained over 193 points to close at 36,636.10 on Wednesday. The NSE gauge Nifty also rose over 65 points to end above the psychologically key 11,000 level.

Meanwhile, the rupee jumped by around 27 paise to 70.01 in early trade on Thursday.

Besides, a constant moderation in prices of Brent crude, the global benchmark, boosted India's macro-economic outlook.

Foreign portfolio investors (FPIs) purchased shares worth Rs 1,130.78 crore, while domestic institutional investors (DIIs) offloaded equities to the tune of Rs 878.45 crore Wednesday, provisional data showed.

Indian bourses continued their rising spree to the fourth session on Thursday, with both benchmarks Sensex and Nifty opening higher amid strengthening of country's macroeconomic outlook following rising rupee and falling crude prices.

Indian bourses continued their rising spree to the fourth session on Thursday, with both benchmarks Sensex and Nifty opening higher amid strengthening of country's macroeconomic outlook following rising rupee and falling crude prices. The 30-share BSE Sensex was trading higher by 63.75 points, or 0.17 per cent, at 36,699.85. Similarly, the NSE's 50-scrip Nifty was quoted higher by 6.80 points, or 0.062 per cent, at 11,059.80. PowerGrid, HUL, Reliance were among the top gainers on the BSE Sensex. The Sensex had gained over 193 points to close at 36,636.10 on Wednesday. The NSE gauge Nifty also rose over 65 points to end above the psychologically key 11,000 level. Meanwhile, the rupee jumped by around 27 paise to 70.01 in early trade on Thursday. Besides, a constant moderation in prices of Brent crude, the global benchmark, boosted India's macro-economic outlook. Foreign portfolio investors (FPIs) purchased shares worth Rs 1,130.78 crore, while domestic institutional investors (DIIs) offloaded equities to the tune of Rs 878.45 crore Wednesday, provisional data showed.

Sensex, Nifty extend rally to fourth day

Japanese automobile giant Honda launched its all-new premier sedan, Honda Civic, in India on Thursday. The model comes in petrol and diesel engine options and in five different variants priced between Rs 17.7 lakh and Rs 22.3 lakh.&nbsp;

The company has completed its sedan line-up with the launch of the latest version. Here's taking a look at some of the key specifications of the brand-new Civic:

- The all-new Civic comes with both petrol and diesel fuel options. The petrol versions will come with a 1.8-litre engine mated with a CVT (automatic) transmission.&nbsp;

- The diesel trims will come with a 1.6-litre engine mated to a manual six-speed transmission.

- According to the company, the petrol variants deliver a fuel efficiency of 16.5 km per litre, while the diesel versions would offer fuel efficiency of 26.8 km per litre.

- The new Civic in petrol is priced between Rs 17.7 lakh and Rs 21 lakh.

- The diesel variants come at a price range of Rs 20.5 lakh to Rs 22.3 lakh (all prices ex-showroom).

Honda had discontinued the Civic sedan in India in 2013 after selling around 55,000 units since its launch in 2006. The company currently has sedans -- Amaze, City and Accord -- catering to various customers across different price points.

Honda Cars India Ltd (HCIL) President and Chief Executive Officer Gaku Nakanishi said that the automobile giant will now look towards establishing a complete range of SUVs under the brand, adding that the company, as of now, has no plans to fill up the hatchback segment. &nbsp;

Like the sedans, he said, "We also want to have a complete range of SUV. We know there are gaps in our SUV portfolio which we are working to fill."

Nakanishi, however, did not elaborate when and how many SUVs would be launched in India. The company currently sells compact SUV W-RV, mid-sized B-RV and top end C-RV.

The Amaze will continue to be the company's entry-level model, he said adding that "the volumes that we lose out from not having Brio will be made up by sales from models such as the Amaze, Civic and others that we have in our portfolio".

(With inputs from PTI)&nbsp;

Japanese automobile giant Honda launched its all-new premier sedan, Honda Civic, in India on Thursday. The model comes in petrol and diesel engine options and in five different variants priced between Rs 17.

Japanese automobile giant Honda launched its all-new premier sedan, Honda Civic, in India on Thursday. The model comes in petrol and diesel engine options and in five different variants priced between Rs 17.7 lakh and Rs 22.3 lakh. The company has completed its sedan line-up with the launch of the latest version. Here's taking a look at some of the key specifications of the brand-new Civic: - The all-new Civic comes with both petrol and diesel fuel options. The petrol versions will come with a 1.8-litre engine mated with a CVT (automatic) transmission. - The diesel trims will come with a 1.6-litre engine mated to a manual six-speed transmission. - According to the company, the petrol variants deliver a fuel efficiency of 16.5 km per litre, while the diesel versions would offer fuel efficiency of 26.8 km per litre. - The new Civic in petrol is priced between Rs 17.7 lakh and Rs 21 lakh. - The diesel variants come at a price range of Rs 20.5 lakh to Rs 22.3 lakh (all prices ex-showroom). Honda had discontinued the Civic sedan in India in 2013 after selling around 55,000 units since its launch in 2006. The company currently has sedans -- Amaze, City and Accord -- catering to various customers across different price points. Honda Cars India Ltd (HCIL) President and Chief Executive Officer Gaku Nakanishi said that the automobile giant will now look towards establishing a complete range of SUVs under the brand, adding that the company, as of now, has no plans to fill up the hatchback segment. Like the sedans, he said, "We also want to have a complete range of SUV. We know there are gaps in our SUV portfolio which we are working to fill." Nakanishi, however, did not elaborate when and how many SUVs would be launched in India. The company currently sells compact SUV W-RV, mid-sized B-RV and top end C-RV. The Amaze will continue to be the company's entry-level model, he said adding that "the volumes that we lose out from not having Brio will be made up by sales from models such as the Amaze, Civic and others that we have in our portfolio". (With inputs from PTI)

Honda launches all-new 2019 Civic in India with two engine options, five variants

Indian shares ended higher on Thursday, with sentiment lifted by a strong rupee, amid hopes of a second term for the current government in the next elections.&nbsp;

The benchmark BSE Sensex closed up 0.24 per cent at 36,725.42, while the broader NSE Nifty ended 0.05 per cent higher at 11,058.20, with Larsen &amp; Toubro Ltd closing up 2.7 per cent.

Losses in Wipro Ltd, Indian Oil Corp and Zee Entertainment Enterprises capped the gains on the NSE index.

Indian shares ended higher on Thursday, with sentiment lifted by a strong rupee, amid hopes of a second term for the current government in the next elections. The benchmark BSE Sensex closed up 0.

Indian shares ended higher on Thursday, with sentiment lifted by a strong rupee, amid hopes of a second term for the current government in the next elections. The benchmark BSE Sensex closed up 0.24 per cent at 36,725.42, while the broader NSE Nifty ended 0.05 per cent higher at 11,058.20, with Larsen & Toubro Ltd closing up 2.7 per cent. Losses in Wipro Ltd, Indian Oil Corp and Zee Entertainment Enterprises capped the gains on the NSE index.

Sensex ends higher, Nifty closes over 11,000 mark

Volkswagen Group India spokesperson on Thursday stated that the automobile giant will challenge the NGT order before the Supreme Court.

The reaction came shortly after the National Green Tribunal (NGT) slapped <a href="http://www.wionews.com/india-news/emission-fiasco-ngt-slaps-rs-500-crore-fine-on-volkswagen-201705">Rs 500 crore fine on Volkswagen</a> for damaging the environment through the use of 'cheat device' in its diesel cars.&nbsp;

Volkswagen is required to deposit the amount with the Central Pollution Control Board (CPCB) within 2 months.

The environmental watchdog enhanced the compensation amount of Rs 171.34 crore, which was recommended by an NGT-appointed committee, as a means of "creating deterrence," news agency PTI reported.&nbsp;

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Volkswagen Group India Spokesperson: The Volkswagen Group will challenge the order of the National Green Tribunal before the Supreme Court.
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The automaker, however, said that it did not violate the BS-IV norms and that the test results were based on "road testings" for which there were no prescribed standards.

The bench said, "Sustainable development is the main guiding factor... We are unable to accept the manufacturer's objections to the report," PTI reported.

(With inputs from PTI)&nbsp;

Volkswagen Group India spokesperson on Thursday stated that the automobile giant will challenge the NGT order before the Supreme Court. The reaction came shortly after the National Green Tribunal (NGT) slapped Rs 500 crore fine on Volkswagen for damaging the environment through the use of 'cheat device' in its diesel cars.

Volkswagen Group India spokesperson on Thursday stated that the automobile giant will challenge the NGT order before the Supreme Court. The reaction came shortly after the National Green Tribunal (NGT) slapped Rs 500 crore fine on Volkswagen for damaging the environment through the use of 'cheat device' in its diesel cars. Volkswagen is required to deposit the amount with the Central Pollution Control Board (CPCB) within 2 months. The environmental watchdog enhanced the compensation amount of Rs 171.34 crore, which was recommended by an NGT-appointed committee, as a means of "creating deterrence," news agency PTI reported. Volkswagen Group India Spokesperson: The Volkswagen Group will challenge the order of the National Green Tribunal before the Supreme Court. — ANI (@ANI) March 7, 2019 × The automaker, however, said that it did not violate the BS-IV norms and that the test results were based on "road testings" for which there were no prescribed standards. The bench said, "Sustainable development is the main guiding factor... We are unable to accept the manufacturer's objections to the report," PTI reported. (With inputs from PTI)

After NGT slaps Rs 500 crore fine on Volkswagen, automobile giant to move Supreme Court

Richest Indian Mukesh Ambani jumped six positions to rank 13th on Forbes World's Billionaire list released Tuesday that was again topped by Jeff Bezos.

E-commerce colossus Amazon founder Bezos, 55, remains the world's richest person, ahead of Bill Gates and Warren Buffett, as his riches swelled by USD 19 billion in one year and is now worth USD 131 billion, Forbes said.

Ambani, 61, saw wealth soar from USD 40.1 billion in 2018 when he was placed 19th richest in the world, to USD 50 billion to be rank at 13th in 2019.

"Ambani chairs and runs USD 60 billion (revenue) oil and gas giant Reliance Industries, among India's most valuable companies," Forbes said. "In 2016, Reliance sparked a price war in India's hyper-competitive telecom market with the launch of 4G phone service Jio."

Jio, it said, has signed on 280 million customers by offering free domestic voice calls, dirt-cheap data services and virtually free smartphones.

Ambani leads the 106 billionaires from India on the Forbes list. Wipro Chairman Azim Premji is ranked 36th with a net worth of $22.6 billion dollars. Technology major HCL's co-founder Shiv Nadar, ranked 82nd and ArcelorMittal Chairman and CEO Lakshmi Mittal at the 91st rank come in within the top-100 billionaires in the world.

The list of Indian billionaires includes Aditya Birla Group Chairman Kumar Birla (122), Chairman and founder of the Adani Group Gautam Adani (167), Bharti Airtel head Sunil Mittal (244), co-founder of consumer goods giant Patanjali Ayurveda Acharya Balkrishna (365), Piramal Entreprises Chair Ajay Piramal (436), Biocon founder Kiran Mazumdar-Shaw (617), Infosys co-founder N R Narayana Murthy (962) and RCom chairman Reliance Anil Ambani (1349).

Facebook founder Mark Zuckerberg dropped three spots and former New York mayor Michael Bloomberg rose by two.

Gates, 63, saw his wealth grow to USD 96.5 billion, up from USD 90 billion last year while investment guru Buffett, 88, at third position saw fortunes slipping by USD 1.5 billion to USD 82.5 billion, the magazine said.

Ambani was placed at the 33rd position on the 2017 listing of Forbes.

Forbes said he is the richest Indian and ranked 32nd on the 2018 Powerful People listing of the magazine. He was ranked Global Game Changer in 2017.

Bernard Arnault, CEO of French luxury good company, LVMH, held on to fourth places while Zuckerberg lost USD 9 billion in networth to slip from fifth the to eighth position.

Ahead of Zuckerberg now are Mexican tycoon Carlos Slim, Zara and Inditex founder Amancio Ortega of Spain and Oracle co-founder Larry Ellison.

Forbes said the "list is a snapshot of wealth using stock prices and exchange rates from February 8, 2019."

Some people become richer or poorer within days of publication.

"We list individuals rather than multigenerational families who share fortunes, though we include wealth belonging to a billionaire's spouse and children if that person is the founder of the fortune," it said.

The 33rd annual ranking has 2,153 billionaires on the 2019 list, down from 2,208 in 2018. The total combined net worth of this year's billionaires is USD 8.7 trillion, down from USD 9.1 trillion in 2018, Forbes said.

"This represents the first decrease in billionaires and their combined wealth since 2016 and only the second decrease in the past decade," it said. "A record 994 individuals are worth less than a year ago; last year only 360 members got poorer. The average net worth of this year's billionaires is USD 4 billion, down from USD 4.1 billion in 2018."

Of the total, 1,450 members are self-made.

For this year's list, Forbes said "capitalism is taking some lumps" as for only the second year in a decade, both the number of billionaires and their total wealth shrank, "proving that even the wealthiest are not immune to economic forces and weak stock markets".

Among the regions, Asia-Pacific was the hardest hit, with 60 fewer 10-figure fortunes. That dip was led by China, which has 49 fewer billionaires than a year ago, Forbes said adding that Europe, the Middle East and Africa also lost ground.

The Americas, driven by a resurgent Brazil, and the US are the only two regions that have more billionaires than they did a year ago. There are now a record 609 in the U.S, including 14 of the world's 20 richest.

Richest Indian Mukesh Ambani jumped six positions to rank 13th on Forbes World's Billionaire list released Tuesday that was again topped by Jeff Bezos. E-commerce colossus Amazon founder Bezos, 55, remains the world's richest person, ahead of Bill Gates and Warren Buffett, as his riches swelled by USD 19 billion in one year and is now worth USD 131 billion, Forbes said.

Richest Indian Mukesh Ambani jumped six positions to rank 13th on Forbes World's Billionaire list released Tuesday that was again topped by Jeff Bezos. E-commerce colossus Amazon founder Bezos, 55, remains the world's richest person, ahead of Bill Gates and Warren Buffett, as his riches swelled by USD 19 billion in one year and is now worth USD 131 billion, Forbes said. Ambani, 61, saw wealth soar from USD 40.1 billion in 2018 when he was placed 19th richest in the world, to USD 50 billion to be rank at 13th in 2019. "Ambani chairs and runs USD 60 billion (revenue) oil and gas giant Reliance Industries, among India's most valuable companies," Forbes said. "In 2016, Reliance sparked a price war in India's hyper-competitive telecom market with the launch of 4G phone service Jio." Jio, it said, has signed on 280 million customers by offering free domestic voice calls, dirt-cheap data services and virtually free smartphones. Ambani leads the 106 billionaires from India on the Forbes list. Wipro Chairman Azim Premji is ranked 36th with a net worth of $22.6 billion dollars. Technology major HCL's co-founder Shiv Nadar, ranked 82nd and ArcelorMittal Chairman and CEO Lakshmi Mittal at the 91st rank come in within the top-100 billionaires in the world. The list of Indian billionaires includes Aditya Birla Group Chairman Kumar Birla (122), Chairman and founder of the Adani Group Gautam Adani (167), Bharti Airtel head Sunil Mittal (244), co-founder of consumer goods giant Patanjali Ayurveda Acharya Balkrishna (365), Piramal Entreprises Chair Ajay Piramal (436), Biocon founder Kiran Mazumdar-Shaw (617), Infosys co-founder N R Narayana Murthy (962) and RCom chairman Reliance Anil Ambani (1349). Facebook founder Mark Zuckerberg dropped three spots and former New York mayor Michael Bloomberg rose by two. Gates, 63, saw his wealth grow to USD 96.5 billion, up from USD 90 billion last year while investment guru Buffett, 88, at third position saw fortunes slipping by USD 1.5 billion to USD 82.5 billion, the magazine said. Ambani was placed at the 33rd position on the 2017 listing of Forbes. Forbes said he is the richest Indian and ranked 32nd on the 2018 Powerful People listing of the magazine. He was ranked Global Game Changer in 2017. Bernard Arnault, CEO of French luxury good company, LVMH, held on to fourth places while Zuckerberg lost USD 9 billion in networth to slip from fifth the to eighth position. Ahead of Zuckerberg now are Mexican tycoon Carlos Slim, Zara and Inditex founder Amancio Ortega of Spain and Oracle co-founder Larry Ellison. Forbes said the "list is a snapshot of wealth using stock prices and exchange rates from February 8, 2019." Some people become richer or poorer within days of publication. "We list individuals rather than multigenerational families who share fortunes, though we include wealth belonging to a billionaire's spouse and children if that person is the founder of the fortune," it said. The 33rd annual ranking has 2,153 billionaires on the 2019 list, down from 2,208 in 2018. The total combined net worth of this year's billionaires is USD 8.7 trillion, down from USD 9.1 trillion in 2018, Forbes said. "This represents the first decrease in billionaires and their combined wealth since 2016 and only the second decrease in the past decade," it said. "A record 994 individuals are worth less than a year ago; last year only 360 members got poorer. The average net worth of this year's billionaires is USD 4 billion, down from USD 4.1 billion in 2018." Of the total, 1,450 members are self-made. For this year's list, Forbes said "capitalism is taking some lumps" as for only the second year in a decade, both the number of billionaires and their total wealth shrank, "proving that even the wealthiest are not immune to economic forces and weak stock markets". Among the regions, Asia-Pacific was the hardest hit, with 60 fewer 10-figure fortunes. That dip was led by China, which has 49 fewer billionaires than a year ago, Forbes said adding that Europe, the Middle East and Africa also lost ground. The Americas, driven by a resurgent Brazil, and the US are the only two regions that have more billionaires than they did a year ago. There are now a record 609 in the U.S, including 14 of the world's 20 richest.

Mukesh Ambani jumps 6 ranks, is 13th richest in world: Forbes

Global smartphone giant and appliance-maker Samsung, on Wednesday at a grand event, unveiled its latest flagship phone Galaxy S10 in New Delhi.&nbsp;

DJ Koh, President and CEO of Samsung's IT and Mobile Communications Division, graced the launch event and emphasised the 'Make in India' quality of Samsung phones.

"We are the only device maker that is truly ‘Made in India’. We have been making phones here locally since 2007 at the World’s Largest Mobile Factory in Noida," Koh told a packed audience comprising media, partners and Samsung fans, at the event which was also live-streamed around the world.

"Samsung is partnering India to fulfil its promise of ‘Make in India’ and ‘Make for India’,"&nbsp;Koh said. "With the inauguration of the Noida factory, the World’s Largest Mobile Factory, Samsung has set its eyes to ‘Make for the World’," he added.&nbsp;

“In India, we are excited by the opportunities, as more and more consumers are embracing the age of digital transformation,” he said.

Koh was thrilled to share that this year marks the tenth year of the Galaxy S series.&nbsp;

With prices starting at Rs 55,900, Samsung S10 comes in three versions -- S10, S10+ and S10e -- and is slated to lock horns with the likes of Apple's iPhone and Google's Pixel in the premium smartphone market in India. These devices were unveiled in San Francisco on February 20.

Here's taking a quick look at some of the salient features of the flagship device:

- Galaxy S10+ will be available in 1 TB, 512GB and 128 GB storage variants and will be priced at Rs 1,17,900, Rs 91,900 and Rs 73,900, respectively.

- The Galaxy S10, on the other hand, will retail for Rs 84,900 (512 GB variant) and Rs 66,900 (128 GB). S10e would be available in only 128 GB storage variant and will be priced at Rs 55,900.

- Galaxy S10+ will be available in 1 TB, 512GB and 128 GB storage variants and will be priced at Rs 1,17,900, Rs 91,900 and Rs 73,900, respectively.

- The Galaxy S10, on the other hand, will retail for Rs 84,900 (512 GB variant) and Rs 66,900 (128 GB). S10e would be available in only 128 GB storage variant and will be priced at Rs 55,900.

- Galaxy S10e comes with only 128GB storage variant for Rs 55,900.

- Galaxy S10e comes with a&nbsp;5.8-inch display whereas S10 boasts of a 6.1-inch display and Galaxy S10+ bears a 6.4-inch display.

- The devices&nbsp;feature the world's first "Dynamic AMOLED" display.

- The new phones include features like cinematic Infinity-O display, enhanced camera capabilities and in-display fingerprint scanner among others, news agency PTI reported.&nbsp;

(With inputs from PTI)&nbsp;

 
&nbsp;

&nbsp; &nbsp;

Global smartphone giant and appliance-maker Samsung, on Wednesday at a grand event, unveiled its latest flagship phone Galaxy S10 in New Delhi. DJ Koh, President and CEO of Samsung's IT and Mobile Communications Division, graced the launch event and emphasised the 'Make in India' quality of Samsung phones.

Global smartphone giant and appliance-maker Samsung, on Wednesday at a grand event, unveiled its latest flagship phone Galaxy S10 in New Delhi. DJ Koh, President and CEO of Samsung's IT and Mobile Communications Division, graced the launch event and emphasised the 'Make in India' quality of Samsung phones. "We are the only device maker that is truly ‘Made in India’. We have been making phones here locally since 2007 at the World’s Largest Mobile Factory in Noida," Koh told a packed audience comprising media, partners and Samsung fans, at the event which was also live-streamed around the world. "Samsung is partnering India to fulfil its promise of ‘Make in India’ and ‘Make for India’," Koh said. "With the inauguration of the Noida factory, the World’s Largest Mobile Factory, Samsung has set its eyes to ‘Make for the World’," he added. “In India, we are excited by the opportunities, as more and more consumers are embracing the age of digital transformation,” he said. Koh was thrilled to share that this year marks the tenth year of the Galaxy S series. With prices starting at Rs 55,900, Samsung S10 comes in three versions -- S10, S10+ and S10e -- and is slated to lock horns with the likes of Apple's iPhone and Google's Pixel in the premium smartphone market in India. These devices were unveiled in San Francisco on February 20. Here's taking a quick look at some of the salient features of the flagship device: - Galaxy S10+ will be available in 1 TB, 512GB and 128 GB storage variants and will be priced at Rs 1,17,900, Rs 91,900 and Rs 73,900, respectively. - The Galaxy S10, on the other hand, will retail for Rs 84,900 (512 GB variant) and Rs 66,900 (128 GB). S10e would be available in only 128 GB storage variant and will be priced at Rs 55,900. - Galaxy S10+ will be available in 1 TB, 512GB and 128 GB storage variants and will be priced at Rs 1,17,900, Rs 91,900 and Rs 73,900, respectively. - The Galaxy S10, on the other hand, will retail for Rs 84,900 (512 GB variant) and Rs 66,900 (128 GB). S10e would be available in only 128 GB storage variant and will be priced at Rs 55,900. - Galaxy S10e comes with only 128GB storage variant for Rs 55,900. - Galaxy S10e comes with a 5.8-inch display whereas S10 boasts of a 6.1-inch display and Galaxy S10+ bears a 6.4-inch display. - The devices feature the world's first "Dynamic AMOLED" display. - The new phones include features like cinematic Infinity-O display, enhanced camera capabilities and in-display fingerprint scanner among others, news agency PTI reported. (With inputs from PTI)

Samsung launches next-generation flagship Galaxy S10 smartphones in India starting at Rs 55,990

Domestic stock markets on Wednesday ended on a positive note with BSE Sensex jumping 193.56 points to close at 36,636.10. Nifty, on the other hand, gained 65.55 points to close at 11,053.00.&nbsp;

In opening trade earlier today, Indian bourses furthered gains with benchmark indices Sensex and Nifty adding 157 points and 53 points, respectively, on sustained buying mainly in stocks of finance, metal and capital goods sectors.

The BSE barometer Sensex opened positively at 36,544.86 and further consolidated its gains to trade at 36,599.69, climbing 157.15 points, or 0.49 per cent, over the previous close. It had gained nearly 379 points to close at 36,442 on Tuesday, news agency PTI reported.

The 30-share index gained nearly 575 points in the last two trading sessions.

The NSE gauge Nifty opened at 11,024.85 and rose to 11,040.85, gaining 53.40 points, or 0.49 per cent. The 50-scrip index had jumped 124 points to close at 10,987, PTI reported.&nbsp;

(With inputs from PTI) &nbsp;

Domestic stock markets on Wednesday ended on a positive note with BSE Sensex jumping 193.56 points to close at 36,636.10. Nifty, on the other hand, gained 65.55 points to close at 11,053.

Domestic stock markets on Wednesday ended on a positive note with BSE Sensex jumping 193.56 points to close at 36,636.10. Nifty, on the other hand, gained 65.55 points to close at 11,053.00. In opening trade earlier today, Indian bourses furthered gains with benchmark indices Sensex and Nifty adding 157 points and 53 points, respectively, on sustained buying mainly in stocks of finance, metal and capital goods sectors. The BSE barometer Sensex opened positively at 36,544.86 and further consolidated its gains to trade at 36,599.69, climbing 157.15 points, or 0.49 per cent, over the previous close. It had gained nearly 379 points to close at 36,442 on Tuesday, news agency PTI reported. The 30-share index gained nearly 575 points in the last two trading sessions. The NSE gauge Nifty opened at 11,024.85 and rose to 11,040.85, gaining 53.40 points, or 0.49 per cent. The 50-scrip index had jumped 124 points to close at 10,987, PTI reported. (With inputs from PTI)

Markets close in green; Sensex up by over 150 points, Nifty crosses 11,000 mark

Equities benchmark Sensex edged lower by over 50 points in early trade on Tuesday, tracking weak global cues amid caution on the US-China trade talks front and concerns over slowing Chinese economy.

The 30-share BSE index was trading lower by 0.14 per cent, or 50.71 points, at 36,013.10 in the opening trade. The broader NSE Nifty was also quoted down by 0.13 per cent, or 14.60 points, at 10,848.90.

In the Sensex pack, weakness was seen primarily in capital goods, IT and financial counters.

Indian equities followed the weak trend prevailing on Asian bourses as investors awaited fresh developments in the China-US trade talks.

China lowering its growth forecasts for this year also played in the minds of cautious investors.

Globally, investors tracked losses on Wall Street, where the global rally hit a bump as optimism that the world's top two economies are heading for a tariffs deal was replaced by a need for clarity on any agreement.

In Asia, Shanghai was down 0.2 per cent while Hong Kong slipped 0.6 per cent and Tokyo was 0.6 per cent lower.

Back home, the Sensex on Friday closed with 196 points gain to end at 36,064 and also posted its second straight weekly gains amid signs of easing tensions between India and Pakistan.

However, volatility erupted last week on domestic bourses after the Indian Air Force targeted Pakistan-based terror camps, leading to days-long geopolitical tensions in the region. But investors now can heave a sigh of relief amid subsiding of skirmishes on the border between the two nations.

In the absence of any immediate key triggers, the domestic equity market would be guided by macro-economic data, crude oil prices, foreign fund inflows and currency movement in this holiday-shortened week, according to analysts.

Meanwhile, China has slashed its official GDP target to 6 to 6.5 per cent this year as the world's second largest economy grapples with the ongoing trade war with the US and a continued economic slowdown.

Equities benchmark Sensex edged lower by over 50 points in early trade on Tuesday, tracking weak global cues amid caution on the US-China trade talks front and concerns over slowing Chinese economy.

Equities benchmark Sensex edged lower by over 50 points in early trade on Tuesday, tracking weak global cues amid caution on the US-China trade talks front and concerns over slowing Chinese economy. The 30-share BSE index was trading lower by 0.14 per cent, or 50.71 points, at 36,013.10 in the opening trade. The broader NSE Nifty was also quoted down by 0.13 per cent, or 14.60 points, at 10,848.90. In the Sensex pack, weakness was seen primarily in capital goods, IT and financial counters. Indian equities followed the weak trend prevailing on Asian bourses as investors awaited fresh developments in the China-US trade talks. China lowering its growth forecasts for this year also played in the minds of cautious investors. Globally, investors tracked losses on Wall Street, where the global rally hit a bump as optimism that the world's top two economies are heading for a tariffs deal was replaced by a need for clarity on any agreement. In Asia, Shanghai was down 0.2 per cent while Hong Kong slipped 0.6 per cent and Tokyo was 0.6 per cent lower. Back home, the Sensex on Friday closed with 196 points gain to end at 36,064 and also posted its second straight weekly gains amid signs of easing tensions between India and Pakistan. However, volatility erupted last week on domestic bourses after the Indian Air Force targeted Pakistan-based terror camps, leading to days-long geopolitical tensions in the region. But investors now can heave a sigh of relief amid subsiding of skirmishes on the border between the two nations. In the absence of any immediate key triggers, the domestic equity market would be guided by macro-economic data, crude oil prices, foreign fund inflows and currency movement in this holiday-shortened week, according to analysts. Meanwhile, China has slashed its official GDP target to 6 to 6.5 per cent this year as the world's second largest economy grapples with the ongoing trade war with the US and a continued economic slowdown.

BSE Sensex slips over 50 points, Nifty by 14 points on weak global cues

US President Donald Trump has said he intends to end the preferential trade status granted to <a href="http://www.wionews.com/business-economy/i-intend-to-end-indias-preferential-trade-treatment-under-gsp-program-trump-201179">India and Turkey,</a> asserting that New Delhi has failed to assure America of "equitable and reasonable" access to its markets, an announcement that could be seen as a major setback to bilateral trade ties.&nbsp;

President Trump, who has vowed to reduce US trade deficits, has repeatedly called out India for its high tariffs. Addressing a four-day annual Conservative Political Action Conference (CPAC) in Maryland on Saturday, Trump accused India of being a "high tariff nation" and threatened to impose "a reciprocal tax" to match the heavy duties that New Delhi imposes on goods imported from the United States.&nbsp;

In a letter to Speaker of the US House of Representatives Nancy Pelosi, Trump said he was determined that New Delhi had "not assured" the US that it would "provide equitable and reasonable access" to the markets of India.&nbsp;

"I am taking this step because, after the intensive engagement between the United States and the Government of India, I have determined that India has not assured the United States that it will provide equitable and reasonable access to the markets of India," Trump said in the letter to congressional leaders on Monday.

"I will continue to assess whether the Government of India is providing equitable and reasonable access to its markets, in accordance with the Generalized System of Preferences (GSP) eligibility criteria," Trump said in his letter, a copy of which was released to the press. Under the United States GSP programme, certain products can enter the US duty-free if the beneficiary developing countries meet the eligibility criteria established by Congress. The GSP criteria include, among others, respecting arbitral awards in favour of US citizens or corporations, combatting child labour, respecting internationally recognised worker rights, providing adequate and effective intellectual property protection and providing the US with equitable and reasonable market access.

Countries can also be graduated from the GSP programme, depending on factors related to economic development. In a separate letter, Trump also informed the Congress of his intent to terminate the GSP beneficiary designation of Turkey. He said it was primarily because the economy of Turkey had improved a lot in the last four-and-a-half decades.&nbsp;

"In the four-and-a-half decades since Turkey's designation as a GSP beneficiary developing country, Turkey's economy has grown and diversified," he said.

"Increases in Gross National Income per capita, declining poverty rates and export diversification by trading partner and by sector are all evidence of Turkey's increased level of economic development. In addition, Turkey has graduated from other developed countries' GSP programs due to its increase in economic development or through reciprocal arrangements," he argued.&nbsp;

Trump's letter to Pelosi could be seen as a major setback to India-US bilateral relationship, in particular in the arena of trade and economy. 
In a separate statement, the US Trade Representative (USTR) said India's termination from GSP followed its failure to provide the US with assurances that it would provide equitable and reasonable access to its markets in numerous sectors.&nbsp;

Turkey's termination from GSP followed a finding that it was sufficiently economically developed and should no longer benefit from preferential market access to the US market, the statement said. "By statute, these changes may not take effect until at least 60 days after the notifications to Congress and the governments of India and Turkey, and will be enacted by a Presidential Proclamation," the USTR said. The Trump administration had launched an eligibility review of India's compliance with the GSP market access criterion in April 2018. "India has implemented a wide array of trade barriers that create serious negative effects on United States commerce. Despite intensive engagement, India has failed to take the necessary steps to meet the GSP criterion," the USTR said.

The US had designated Turkey as a GSP beneficiary developing country in 1975. An increase in the Gross National Income (GNI) per capita, declining poverty rates and export diversification by trading partner and by sector were evidence of Turkey's higher level of economic development, the USTR said.

US President Donald Trump has said he intends to end the preferential trade status granted to India and Turkey, asserting that New Delhi has failed to assure America of "equitable and reasonable" access to its markets, an announcement that could be seen as a major setback to bilateral trade ties.

US President Donald Trump has said he intends to end the preferential trade status granted to India and Turkey, asserting that New Delhi has failed to assure America of "equitable and reasonable" access to its markets, an announcement that could be seen as a major setback to bilateral trade ties. President Trump, who has vowed to reduce US trade deficits, has repeatedly called out India for its high tariffs. Addressing a four-day annual Conservative Political Action Conference (CPAC) in Maryland on Saturday, Trump accused India of being a "high tariff nation" and threatened to impose "a reciprocal tax" to match the heavy duties that New Delhi imposes on goods imported from the United States. In a letter to Speaker of the US House of Representatives Nancy Pelosi, Trump said he was determined that New Delhi had "not assured" the US that it would "provide equitable and reasonable access" to the markets of India. "I am taking this step because, after the intensive engagement between the United States and the Government of India, I have determined that India has not assured the United States that it will provide equitable and reasonable access to the markets of India," Trump said in the letter to congressional leaders on Monday. "I will continue to assess whether the Government of India is providing equitable and reasonable access to its markets, in accordance with the Generalized System of Preferences (GSP) eligibility criteria," Trump said in his letter, a copy of which was released to the press. Under the United States GSP programme, certain products can enter the US duty-free if the beneficiary developing countries meet the eligibility criteria established by Congress. The GSP criteria include, among others, respecting arbitral awards in favour of US citizens or corporations, combatting child labour, respecting internationally recognised worker rights, providing adequate and effective intellectual property protection and providing the US with equitable and reasonable market access. Countries can also be graduated from the GSP programme, depending on factors related to economic development. In a separate letter, Trump also informed the Congress of his intent to terminate the GSP beneficiary designation of Turkey. He said it was primarily because the economy of Turkey had improved a lot in the last four-and-a-half decades. "In the four-and-a-half decades since Turkey's designation as a GSP beneficiary developing country, Turkey's economy has grown and diversified," he said. "Increases in Gross National Income per capita, declining poverty rates and export diversification by trading partner and by sector are all evidence of Turkey's increased level of economic development. In addition, Turkey has graduated from other developed countries' GSP programs due to its increase in economic development or through reciprocal arrangements," he argued. Trump's letter to Pelosi could be seen as a major setback to India-US bilateral relationship, in particular in the arena of trade and economy. In a separate statement, the US Trade Representative (USTR) said India's termination from GSP followed its failure to provide the US with assurances that it would provide equitable and reasonable access to its markets in numerous sectors. Turkey's termination from GSP followed a finding that it was sufficiently economically developed and should no longer benefit from preferential market access to the US market, the statement said. "By statute, these changes may not take effect until at least 60 days after the notifications to Congress and the governments of India and Turkey, and will be enacted by a Presidential Proclamation," the USTR said. The Trump administration had launched an eligibility review of India's compliance with the GSP market access criterion in April 2018. "India has implemented a wide array of trade barriers that create serious negative effects on United States commerce. Despite intensive engagement, India has failed to take the necessary steps to meet the GSP criterion," the USTR said. The US had designated Turkey as a GSP beneficiary developing country in 1975. An increase in the Gross National Income (GNI) per capita, declining poverty rates and export diversification by trading partner and by sector were evidence of Turkey's higher level of economic development, the USTR said.

'Actual benefit' to India under preferential trade treatment by the United States is only $250 million a year: Source

The United States President Donald Trump intends to&nbsp;terminate the Generalised System of Preferences (GSP) program with India and Turkey,&nbsp;US trade chief's office said on Monday.

GSP is a preferential tariff system extended by developed countries to developing countries, also known as beneficiary countries, to grow their economy. It is a preferential arrangement that allows concessional low/zero tariff imports from&nbsp;120 designated beneficiary countries and territories.&nbsp;

Washington "intends to terminate India's and Turkey's designations as beneficiary developing countries under the Generalized System of Preferences (GSP) program because they no longer comply with the statutory eligibility criteria," the Office of the US Trade Representative said in a statement.

The changes cannot take effect for at least 60 days following the notification of Congress as well as the countries affected -- a process Trump began Monday with letters to the speaker of the House of Representatives and the president of the Senate.

Also read: <a href="http://www.wionews.com/india-news/want-reciprocal-tax-on-india-to-match-tariffs-on-us-exports-says-donald-trump-200816">Want 'reciprocal tax' on India to match tariffs on US exports, says Donald Trump</a>

India has failed to provide assurances that it would allow required market access, while Turkey is "sufficiently economically developed" that it no longer qualifies, the statement read.

India, however, "has implemented a wide array of trade barriers that create serious negative effects on United States commerce," the statement said.

The statement also said that Turkey, after being designated a GSP beneficiary in 1975, has meanwhile demonstrated a "higher level of economic development," meaning that it can be "graduated" from the program.

Trump, who has vowed to reduce US trade deficits, has repeatedly called out India for its high tariffs.

The US goods and services trade deficit with India was $27.3 billion in 2017, according to the US Trade Representative's Office.

India is the world's largest beneficiary of the GSP program and ending its participation would be the strongest punitive action against India since Trump took office in 2017.

"I will continue to assess whether the Government of India is providing equitable and reasonable access to its markets, in accordance with the GSP eligibility criteria," the President wrote in the letter sent to Congress.

India reportedly&nbsp;enjoys preferential tariff on exports worth of nearly $ 5.6 billion under the GSP route out of the total exports of $48 billion in 2017-18.

On Saturday as well,&nbsp;Trump accused India of being a "high tariff nation" and threatened to impose "a reciprocal tax" to match heavy duties that New Delhi imposes on goods from the United States.

Addressing the last day of a four-day annual Conservative Political Action Conference (CPAC) in Maryland, the US President said, "India is a very high tariff nation. When we send a motorcycle to India, they charge 100 per cent tariff. When India sends a motorcycle to us, we charge nothing. I want a reciprocal tax, at least I want to charge a tax."

(With inputs from&nbsp;agencies)

The United States President Donald Trump intends to terminate the Generalised System of Preferences (GSP) program with India and Turkey, US trade chief's office said on Monday.

The United States President Donald Trump intends to terminate the Generalised System of Preferences (GSP) program with India and Turkey, US trade chief's office said on Monday. GSP is a preferential tariff system extended by developed countries to developing countries, also known as beneficiary countries, to grow their economy. It is a preferential arrangement that allows concessional low/zero tariff imports from 120 designated beneficiary countries and territories. Washington "intends to terminate India's and Turkey's designations as beneficiary developing countries under the Generalized System of Preferences (GSP) program because they no longer comply with the statutory eligibility criteria," the Office of the US Trade Representative said in a statement. The changes cannot take effect for at least 60 days following the notification of Congress as well as the countries affected -- a process Trump began Monday with letters to the speaker of the House of Representatives and the president of the Senate. Also read: Want 'reciprocal tax' on India to match tariffs on US exports, says Donald Trump India has failed to provide assurances that it would allow required market access, while Turkey is "sufficiently economically developed" that it no longer qualifies, the statement read. India, however, "has implemented a wide array of trade barriers that create serious negative effects on United States commerce," the statement said. The statement also said that Turkey, after being designated a GSP beneficiary in 1975, has meanwhile demonstrated a "higher level of economic development," meaning that it can be "graduated" from the program. Trump, who has vowed to reduce US trade deficits, has repeatedly called out India for its high tariffs. The US goods and services trade deficit with India was $27.3 billion in 2017, according to the US Trade Representative's Office. India is the world's largest beneficiary of the GSP program and ending its participation would be the strongest punitive action against India since Trump took office in 2017. "I will continue to assess whether the Government of India is providing equitable and reasonable access to its markets, in accordance with the GSP eligibility criteria," the President wrote in the letter sent to Congress. India reportedly enjoys preferential tariff on exports worth of nearly $ 5.6 billion under the GSP route out of the total exports of $48 billion in 2017-18. On Saturday as well, Trump accused India of being a "high tariff nation" and threatened to impose "a reciprocal tax" to match heavy duties that New Delhi imposes on goods from the United States. Addressing the last day of a four-day annual Conservative Political Action Conference (CPAC) in Maryland, the US President said, "India is a very high tariff nation. When we send a motorcycle to India, they charge 100 per cent tariff. When India sends a motorcycle to us, we charge nothing. I want a reciprocal tax, at least I want to charge a tax." (With inputs from agencies)

I intend to end preferential trade status for India, Turkey: Trump

Market benchmark Sensex Tuesday surged by nearly 379 points to close at 36,442 on intense buying mainly in auto, financial and energy counters amid easing of geo-political tensions and positive macroeconomic outlook.

Similarly, the broader NSE Nifty rose nearly 124 points to settle just below the psychological 11,000 level.

Among the Sensex constituents, 23 stocks rose and seven counters declined.

Tata Motors led the Sensex chart with a rise of 7.72 per cent, followed by Heromoto Corp 5.28 per cent and Axis bank 4.12 per cent.

The key BSE index was further lifted by ONGC, Coal India, Tata Steel, NTPC, Maruti and ICICI Bank -- rising as much as 3.96 per cent.

Among the major Sensex laggards, Infosys slips 1.15 per cent, HUL 0.62 per cent and TCS 0.19 per cent.

Meanwhile, the country's services sector activity gathered momentum in February, driven by a quicker expansion in new work orders that supported a faster increase in output and job creation, a monthly survey showed Tuesday.

The seasonally adjusted Nikkei India Services Business Activity Index rose from 52.2 in January to 52.5 in February, indicating an upturn in output.

Indian bourses are seemed to have found some stability after a volatile week in which investors remained cautious due to fears that India and Pakistan could go to a war after the Indian Air Force targeted terror camps in the neighbouring country. But investors now can heave a sigh of relief amid subsiding of skirmishes on the border between the two nations

"Market extended the gains as optimism in pre-election rally after ease in geopolitical tension supported investors' sentiment. On the other hand, mid and small caps outperformed after one year of under-performance as investors' strategy has changed from sell on rally to buy on dips due to attractive valuations," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said.

The Sensex started on a positive note at 36,141.07 in the morning and touched a high of 36,457.44 and low of 35,926.94 during the session. Intra-day, the index saw a movement of over 530 points. It finally settled the day at 36,442.54, 378.73 points, or 1.05 per cent, higher.

The NSE Nifty opened at 10,864.85 and hit a high of 10,994.90 and low of 10,817.00 during the day. The index swung 177.9 points during the trading session. It closed at 10,987.45, showing a rise of 123.95 points, or 1.14 per cent.

In global markets, Asian indices ended on a mixed note, with China announcing that its growth rate for the year will be around 6 to 6.50 per cent, the slowest pace in 30 years. Over Night, US markets had ended lower after disappointing construction spending data.

Global investors remained edgy amid caution on the US-China trade talks front and concerns over slowing Chinese economy.

China has slashed its official GDP target to 6 to 6.5 per cent this year as the world's second largest economy grapples with the ongoing trade war with the US and a continued economic slowdown.

Globally, investors tracked losses on Wall Street, where the global rally hit a bump as optimism that the world's top two economies are heading for a tariffs deal was replaced by a need for clarity on any agreement.

In Asia, Shanghai, Hong Kong and Tokyo markets were lower.

Market benchmark Sensex Tuesday surged by nearly 379 points to close at 36,442 on intense buying mainly in auto, financial and energy counters amid easing of geo-political tensions and positive macroeconomic outlook.

Market benchmark Sensex Tuesday surged by nearly 379 points to close at 36,442 on intense buying mainly in auto, financial and energy counters amid easing of geo-political tensions and positive macroeconomic outlook. Similarly, the broader NSE Nifty rose nearly 124 points to settle just below the psychological 11,000 level. Among the Sensex constituents, 23 stocks rose and seven counters declined. Tata Motors led the Sensex chart with a rise of 7.72 per cent, followed by Heromoto Corp 5.28 per cent and Axis bank 4.12 per cent. The key BSE index was further lifted by ONGC, Coal India, Tata Steel, NTPC, Maruti and ICICI Bank -- rising as much as 3.96 per cent. Among the major Sensex laggards, Infosys slips 1.15 per cent, HUL 0.62 per cent and TCS 0.19 per cent. Meanwhile, the country's services sector activity gathered momentum in February, driven by a quicker expansion in new work orders that supported a faster increase in output and job creation, a monthly survey showed Tuesday. The seasonally adjusted Nikkei India Services Business Activity Index rose from 52.2 in January to 52.5 in February, indicating an upturn in output. Indian bourses are seemed to have found some stability after a volatile week in which investors remained cautious due to fears that India and Pakistan could go to a war after the Indian Air Force targeted terror camps in the neighbouring country. But investors now can heave a sigh of relief amid subsiding of skirmishes on the border between the two nations "Market extended the gains as optimism in pre-election rally after ease in geopolitical tension supported investors' sentiment. On the other hand, mid and small caps outperformed after one year of under-performance as investors' strategy has changed from sell on rally to buy on dips due to attractive valuations," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said. The Sensex started on a positive note at 36,141.07 in the morning and touched a high of 36,457.44 and low of 35,926.94 during the session. Intra-day, the index saw a movement of over 530 points. It finally settled the day at 36,442.54, 378.73 points, or 1.05 per cent, higher. The NSE Nifty opened at 10,864.85 and hit a high of 10,994.90 and low of 10,817.00 during the day. The index swung 177.9 points during the trading session. It closed at 10,987.45, showing a rise of 123.95 points, or 1.14 per cent. In global markets, Asian indices ended on a mixed note, with China announcing that its growth rate for the year will be around 6 to 6.50 per cent, the slowest pace in 30 years. Over Night, US markets had ended lower after disappointing construction spending data. Global investors remained edgy amid caution on the US-China trade talks front and concerns over slowing Chinese economy. China has slashed its official GDP target to 6 to 6.5 per cent this year as the world's second largest economy grapples with the ongoing trade war with the US and a continued economic slowdown. Globally, investors tracked losses on Wall Street, where the global rally hit a bump as optimism that the world's top two economies are heading for a tariffs deal was replaced by a need for clarity on any agreement. In Asia, Shanghai, Hong Kong and Tokyo markets were lower.

Sensex surges 378 points tracking positive domestic cues

India Inc's external commercial borrowings (ECBs) fell by 45 per cent to USD 2.42 billion in January 2019 as compared to the year-ago period, data from RBI has showed.

Domestic firms had raised USD 5.40 billion from overseas sources during January 2018.

Of the total borrowings during the month, USD 2.27 billion was raised through the automatic route of the ECBs.

The remaining USD 150 million was taken through the approval route, as per the Reserve Bank data on ECB for January 2019.

No money was raised through rupee denominated bonds (RDBs) during the month, both in 2019 and 2018.

Major borrowers, which tapped resources overseas via automatic route, included Indian Oil Corporation Limited (USD 900 million), Bharat Petroleum Corp (USD 500 million) and Hindustan Petroleum Corp (USD 200 million).

All three oil marketing firms raised the money for their working capital requirement.

Power Grid Corporation raised USD 228.55 million for power project and Reliance Home Finance raised USD 35.50 million for lending.

Power Finance Corp was the only firm to raise USD 150 million through approval route for sub-lending purpose.&nbsp;

India Inc's external commercial borrowings (ECBs) fell by 45 per cent to USD 2.42 billion in January 2019 as compared to the year-ago period, data from RBI has showed.

India Inc's external commercial borrowings (ECBs) fell by 45 per cent to USD 2.42 billion in January 2019 as compared to the year-ago period, data from RBI has showed. Domestic firms had raised USD 5.40 billion from overseas sources during January 2018. Of the total borrowings during the month, USD 2.27 billion was raised through the automatic route of the ECBs. The remaining USD 150 million was taken through the approval route, as per the Reserve Bank data on ECB for January 2019. No money was raised through rupee denominated bonds (RDBs) during the month, both in 2019 and 2018. Major borrowers, which tapped resources overseas via automatic route, included Indian Oil Corporation Limited (USD 900 million), Bharat Petroleum Corp (USD 500 million) and Hindustan Petroleum Corp (USD 200 million). All three oil marketing firms raised the money for their working capital requirement. Power Grid Corporation raised USD 228.55 million for power project and Reliance Home Finance raised USD 35.50 million for lending. Power Finance Corp was the only firm to raise USD 150 million through approval route for sub-lending purpose.

India Inc's foreign borrowings down 45% in January 2019

Gold prices hit a two-week low on Friday as the dollar recouped losses on upbeat US economic data, while mounting concerns over a slowdown in global growth offered support to the safe-haven metal.

As of 0517 GMT, spot gold was flat at $1,312.67 per ounce, after slipping to its lowest since February 15 at $1,311.61 earlier in the session.

US gold futures were down 0.1 per cent at $1,314.30 per ounce.

The dollar, which pulled back from over three-week lows, scaled a 10-week high against the yen and was marginally higher against major currencies.

The US Commerce Department's report showed a better-than-expected performance in the fourth quarter pushed gross domestic product (GDP) up 2.9 per cent for the year, just shy of the 3 per cent annual growth target in 2018.

"Gold is still fundamentally supported for the longer term despite the bearish pressures we see for now due to a slight rise in bond yields and a firm dollar," said Benjamin Lu, an analyst with Singapore-based Phillip Futures.

The benchmark 10-year government yield was up 3.1 basis points on Thursday after the US data.&nbsp;

Higher yields can translate into more demand for the dollar since the currency is used to buy bonds, a traditional safe haven, eroding bullion's appeal.

"Asian economic data has weakened significantly and it continues to show that the economy has started to slow," Lu said, adding gold was being supported by broad-based economic weaknesses.

Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis.

Also, Japanese manufacturing activity contracted in February at the fastest pace in two-and-a-half years as factories cut back output amid shrinking domestic and export orders, a revised survey showed on Friday.

Gold has lost the support from $1,320 level, technically and has not got enough boost from Federal Reserve Chairman Jerome Powell's testimony and negative news on China-US trade, Hong Kong-based bullion dealer Wing Fung said in a note.

"Concerning the slowdown of global economic growth, we are not pessimistic about gold," Wing Fung said, adding the metal has strong support at $1,300 level.

Reflecting a drop in bullion prices, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.52 per cent on Thursday.

Gold may break a support at $1,311 per ounce and fall to the next support at $1,299, according to Reuters analyst Wang Tao.

Among the other precious metals, palladium gained 0.2 per cent to $1,546.70 per ounce, after retreating from its all-time peak of 1,565.09 scaled earlier in the week.

Platinum was up 0.1 per cent at $870.87 per ounce but was trading below its more than three-month high of $876 hit in the previous session.

Spot silver was down 0.1 per cent at $15.58 per ounce.&nbsp;

Gold prices hit a two-week low on Friday as the dollar recouped losses on upbeat US economic data, while mounting concerns over a slowdown in global growth offered support to the safe-haven metal.

Gold prices hit a two-week low on Friday as the dollar recouped losses on upbeat US economic data, while mounting concerns over a slowdown in global growth offered support to the safe-haven metal. As of 0517 GMT, spot gold was flat at $1,312.67 per ounce, after slipping to its lowest since February 15 at $1,311.61 earlier in the session. US gold futures were down 0.1 per cent at $1,314.30 per ounce. The dollar, which pulled back from over three-week lows, scaled a 10-week high against the yen and was marginally higher against major currencies. The US Commerce Department's report showed a better-than-expected performance in the fourth quarter pushed gross domestic product (GDP) up 2.9 per cent for the year, just shy of the 3 per cent annual growth target in 2018. "Gold is still fundamentally supported for the longer term despite the bearish pressures we see for now due to a slight rise in bond yields and a firm dollar," said Benjamin Lu, an analyst with Singapore-based Phillip Futures. The benchmark 10-year government yield was up 3.1 basis points on Thursday after the US data. Higher yields can translate into more demand for the dollar since the currency is used to buy bonds, a traditional safe haven, eroding bullion's appeal. "Asian economic data has weakened significantly and it continues to show that the economy has started to slow," Lu said, adding gold was being supported by broad-based economic weaknesses. Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis. Also, Japanese manufacturing activity contracted in February at the fastest pace in two-and-a-half years as factories cut back output amid shrinking domestic and export orders, a revised survey showed on Friday. Gold has lost the support from $1,320 level, technically and has not got enough boost from Federal Reserve Chairman Jerome Powell's testimony and negative news on China-US trade, Hong Kong-based bullion dealer Wing Fung said in a note. "Concerning the slowdown of global economic growth, we are not pessimistic about gold," Wing Fung said, adding the metal has strong support at $1,300 level. Reflecting a drop in bullion prices, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.52 per cent on Thursday. Gold may break a support at $1,311 per ounce and fall to the next support at $1,299, according to Reuters analyst Wang Tao. Among the other precious metals, palladium gained 0.2 per cent to $1,546.70 per ounce, after retreating from its all-time peak of 1,565.09 scaled earlier in the week. Platinum was up 0.1 per cent at $870.87 per ounce but was trading below its more than three-month high of $876 hit in the previous session. Spot silver was down 0.1 per cent at $15.58 per ounce.

Gold hits two-week low as upbeat US data lifts dollar

Indian stock markets on Friday opened in green while rupee took a hit against US dollar, depreciating by 14 paise to 70.86 in early trade.

The benchmark BSE Sensex was quoting higher by 206.19 points, or 0.57 per cent, to 36,073.63 in opening deals today. Indian currency's depreciation came amid&nbsp;increased demand for the US currency from importers and foreign fund outflows.

Besides, strength in the dollar against major rival currencies on stronger US economic data also kept the pressure on the Indian rupee, dealers said.

However, a higher opening in domestic equities helped in restricting the slide in the Indian unit to some extent, they added.

On the macro-economic front, a caution prevailed after official data showed that the country's economic growth slowed to a 5-quarter low of <a href="http://www.wionews.com/india-news/india-gdp-growth-slows-to-five-quarter-low-of-66-pc-in-q3-still-fastest-in-the-world-200356">6.6 per cent in the October-December period</a>.

Also, economic growth estimate for the current fiscal year ending March 31 has been revised downwards to 7 per cent from the earlier estimate of 7.2 per cent. This is the lowest growth in the last five years.

On Thursday, the rupee rebounded by 52 paise to close at 70.72 against the US dollar as sentiments revived on signs of de-escalation of tensions between India and Pakistan.

Extending its fall for the third session, the BSE benchmark Sensex Thursday ended marginally lower after investors squared-off positions as February derivative contracts expired amid concerns over tension between India and Pakistan.

Indian stock markets on Friday opened in green while rupee took a hit against US dollar, depreciating by 14 paise to 70.86 in early trade. The benchmark BSE Sensex was quoting higher by 206.

Indian stock markets on Friday opened in green while rupee took a hit against US dollar, depreciating by 14 paise to 70.86 in early trade. The benchmark BSE Sensex was quoting higher by 206.19 points, or 0.57 per cent, to 36,073.63 in opening deals today. Indian currency's depreciation came amid increased demand for the US currency from importers and foreign fund outflows. Besides, strength in the dollar against major rival currencies on stronger US economic data also kept the pressure on the Indian rupee, dealers said. However, a higher opening in domestic equities helped in restricting the slide in the Indian unit to some extent, they added. On the macro-economic front, a caution prevailed after official data showed that the country's economic growth slowed to a 5-quarter low of 6.6 per cent in the October-December period. Also, economic growth estimate for the current fiscal year ending March 31 has been revised downwards to 7 per cent from the earlier estimate of 7.2 per cent. This is the lowest growth in the last five years. On Thursday, the rupee rebounded by 52 paise to close at 70.72 against the US dollar as sentiments revived on signs of de-escalation of tensions between India and Pakistan. Extending its fall for the third session, the BSE benchmark Sensex Thursday ended marginally lower after investors squared-off positions as February derivative contracts expired amid concerns over tension between India and Pakistan.

Markets open in green, rupee sheds 14 paise against dollar

Shares of Jet Airways Ltd jumped as much as 6 per cent on Friday, a day after two sources told Reuters that<a href="http://www.wionews.com/business-economy/jet-airways-founder-naresh-goyal-agrees-to-step-down-as-chairman-sources-200362"> founder Naresh Goyal had agreed to step down as chairman</a>.

Goyal, who founded the full-service carrier 25 years ago, has also agreed to reduce his 51 per cent stake in the airline but would continue to be a part of the company in some capacity even after stepping down as chairman, one of the sources said.

Jet, saddled with over $1 billion debt, had a rough 2018 as competition intensified in the Indian skies, the rupee depreciated and high oil prices squeezed margins.

Jet did not respond to an email seeking comments. The company had said last week that its board had approved a rescue deal which will make its lenders, led by State Bank of India (SBI), its largest shareholder.

The airline was also forced to ground another six planes on Thursday due to non-payment of dues to lessors, taking the tally to 19 which is about 15 per cent of its fleet. It has a fleet of about 123, mainly Boeing Co planes, including 16-owned aircraft.

The stock posted its biggest daily percentage gain since February 15, hitting a high of 237.05 rupees. It was last up 4.4 per cent as of 0347 GMT.

Shares of Jet Airways Ltd jumped as much as 6 per cent on Friday, a day after two sources told Reuters that founder Naresh Goyal had agreed to step down as chairman.

Shares of Jet Airways Ltd jumped as much as 6 per cent on Friday, a day after two sources told Reuters that founder Naresh Goyal had agreed to step down as chairman. Goyal, who founded the full-service carrier 25 years ago, has also agreed to reduce his 51 per cent stake in the airline but would continue to be a part of the company in some capacity even after stepping down as chairman, one of the sources said. Jet, saddled with over $1 billion debt, had a rough 2018 as competition intensified in the Indian skies, the rupee depreciated and high oil prices squeezed margins. Jet did not respond to an email seeking comments. The company had said last week that its board had approved a rescue deal which will make its lenders, led by State Bank of India (SBI), its largest shareholder. The airline was also forced to ground another six planes on Thursday due to non-payment of dues to lessors, taking the tally to 19 which is about 15 per cent of its fleet. It has a fleet of about 123, mainly Boeing Co planes, including 16-owned aircraft. The stock posted its biggest daily percentage gain since February 15, hitting a high of 237.05 rupees. It was last up 4.4 per cent as of 0347 GMT.

Jet Airways shares rise after report of chairman stepping down

India's diesel consumption may rise to a record this year on increasing infrastructure spending by the current government as it tries to hold off challengers in general elections that will be held over April and May.

Surging diesel consumption in India, the world's third-largest oil user, underscores the country's importance as a driver of global oil demand. Amid increasing concerns that crude demand growth may slip in 2019 because of slowing economic growth, India's burgeoning fuel consumption may help underpin oil and fuel prices.

Analysts at Fitch Solutions and consultants Wood Mackenzie forecast India's diesel demand to rise in 2019 by 5.7 per cent and 6.4 per cent, respectively, from 2018. The country consumed a record 6.9 million tonnes of diesel a month in 2018, or about 1.7 million barrels per day (bpd), data from the Ministry of Petroleum showed.

"There is strong energy demand which is bound to happen because of different sectors... We are a diesel driven economy," said Sanjiv Singh, chairman of Indian Oil Corp, the country's top refiner.

"The bottom-line remains that energy demand is bound to grow. We're seeing GDP at more than 7 per cent, (and) ... a lot of urbanization," Singh added.

India's economy is expected to grow by 7.2 per cent in the 2018/2019 financial year, which runs from April to March, versus 6.7 per cent the previous year, according to government data.

"Tied to a constructive GDP outlook - and alongside the country's positive demographics, low vehicle penetration and loose monetary policy - is our forecast for rapid growth in vehicle sales, which again will be positive for diesel," said Peter Lee, an analyst at Fitch Solutions, adding that diesel cars account for nearly a quarter of new vehicles in India.

According to 2015 data, the latest available, from the International Organization of Motor Vehicle Manufacturers, India held 22 cars per 1,000 people versus 821 cars per 1,000 people in the United States.

Election boom

Election rallies, the deployment of polling officers and security officers will add to the diesel demand boost from infrastructure projects that the ruling Bharatiya Janata Party have planned ahead of the polls.

The country's interim budget unveiled earlier this month allocated 190 billion rupees ($2.67 billion) for building roads in the countryside, where two-thirds of Indians live.

"Increased travel activity for campaigning and implementation of infrastructure projects ahead of the elections will bolster diesel demand in the first half of 2019," said Aman Verma, a research analyst at Wood Mackenzie.

During the last general elections in 2014, monthly diesel sales averaged 6.2 million tonnes during the polling months, 7 per cent higher than the monthly average sales that year.

The implementation of a nationwide goods and services tax (GST) has also been beneficial for diesel demand.

"The GST has led to the removal of interstate taxes. This is a structural shift, resulting in increased demand for heavy and medium-duty trucks to achieve economies of scale and operational efficiency," Wood Mackenzie's Verma said.

The sales of commercial vehicles, which largely run on diesel, rose to a record last year, and Jan. 2019 sales climbed to 87,600, a record high for this time of the year, according to data on Refinitiv Eikon.

India's diesel expansion will likely continue despite rising air pollution concerns, especially in the capital of New Delhi. The country's fuel standards have improved, removing much of the sulphur from the diesel pool.

By April, the New Delhi capital region will adopt the so-called Bharat VI standard that is equal to the most stringent European standard, which the rest of the country will adopt next year.

Diesel consumption also faces increasing competition from electric vehicles (EV). The Indian government has set a target of EVs making up 30 per cent of new car and motorcycle sales by 2030 from less than 1 per cent today.

At the moment though EVs are not making much of an impact in India. Electric car sales actually declined by 40 per cent to a mere 1,200 units in the financial year 2018 over the financial year 2017, although electric two-wheeler sales rose 138 per cent to 54,800 units during the same period, according to Wood Mackenzie.

India's diesel consumption may rise to a record this year on increasing infrastructure spending by the current government as it tries to hold off challengers in general elections that will be held over April and May.

India's diesel consumption may rise to a record this year on increasing infrastructure spending by the current government as it tries to hold off challengers in general elections that will be held over April and May. Surging diesel consumption in India, the world's third-largest oil user, underscores the country's importance as a driver of global oil demand. Amid increasing concerns that crude demand growth may slip in 2019 because of slowing economic growth, India's burgeoning fuel consumption may help underpin oil and fuel prices. Analysts at Fitch Solutions and consultants Wood Mackenzie forecast India's diesel demand to rise in 2019 by 5.7 per cent and 6.4 per cent, respectively, from 2018. The country consumed a record 6.9 million tonnes of diesel a month in 2018, or about 1.7 million barrels per day (bpd), data from the Ministry of Petroleum showed. "There is strong energy demand which is bound to happen because of different sectors... We are a diesel driven economy," said Sanjiv Singh, chairman of Indian Oil Corp, the country's top refiner. "The bottom-line remains that energy demand is bound to grow. We're seeing GDP at more than 7 per cent, (and) ... a lot of urbanization," Singh added. India's economy is expected to grow by 7.2 per cent in the 2018/2019 financial year, which runs from April to March, versus 6.7 per cent the previous year, according to government data. "Tied to a constructive GDP outlook - and alongside the country's positive demographics, low vehicle penetration and loose monetary policy - is our forecast for rapid growth in vehicle sales, which again will be positive for diesel," said Peter Lee, an analyst at Fitch Solutions, adding that diesel cars account for nearly a quarter of new vehicles in India. According to 2015 data, the latest available, from the International Organization of Motor Vehicle Manufacturers, India held 22 cars per 1,000 people versus 821 cars per 1,000 people in the United States. Election boom Election rallies, the deployment of polling officers and security officers will add to the diesel demand boost from infrastructure projects that the ruling Bharatiya Janata Party have planned ahead of the polls. The country's interim budget unveiled earlier this month allocated 190 billion rupees ($2.67 billion) for building roads in the countryside, where two-thirds of Indians live. "Increased travel activity for campaigning and implementation of infrastructure projects ahead of the elections will bolster diesel demand in the first half of 2019," said Aman Verma, a research analyst at Wood Mackenzie. During the last general elections in 2014, monthly diesel sales averaged 6.2 million tonnes during the polling months, 7 per cent higher than the monthly average sales that year. The implementation of a nationwide goods and services tax (GST) has also been beneficial for diesel demand. "The GST has led to the removal of interstate taxes. This is a structural shift, resulting in increased demand for heavy and medium-duty trucks to achieve economies of scale and operational efficiency," Wood Mackenzie's Verma said. The sales of commercial vehicles, which largely run on diesel, rose to a record last year, and Jan. 2019 sales climbed to 87,600, a record high for this time of the year, according to data on Refinitiv Eikon. India's diesel expansion will likely continue despite rising air pollution concerns, especially in the capital of New Delhi. The country's fuel standards have improved, removing much of the sulphur from the diesel pool. By April, the New Delhi capital region will adopt the so-called Bharat VI standard that is equal to the most stringent European standard, which the rest of the country will adopt next year. Diesel consumption also faces increasing competition from electric vehicles (EV). The Indian government has set a target of EVs making up 30 per cent of new car and motorcycle sales by 2030 from less than 1 per cent today. At the moment though EVs are not making much of an impact in India. Electric car sales actually declined by 40 per cent to a mere 1,200 units in the financial year 2018 over the financial year 2017, although electric two-wheeler sales rose 138 per cent to 54,800 units during the same period, according to Wood Mackenzie.

India's diesel demand to hit record high in 2019 as country goes to polls

Market benchmark Sensex Friday rose over 196 points to end at 36,064 and also posted its second straight weekly gains amid signs of easing tensions between India and Pakistan.

The key BSE index also snapped its three-session losing run after the March derivatives series got off to a strong start coupled with uninterrupted foreign fund inflows.

The 30-share Sensex opened positive and rallied to the session's high of 36,140.67 on widespread buying by participants.

However, profit-booking in select counters trimmed the gains as the gauge settled 196.37 points, or 0.55 per cent, higher at 36,063.81. It had lost over 346 points in the previous three sessions due to geo-political tensions between India and Pakistan.

For the week, the BSE Sensex rose 192.33 points, or 0.57 per cent, while the broader NSE Nifty gained 71.35 points, or 0.69 per cent. This was the second straight weekly gains for the index.

The NSE Nifty, after hitting a high of 10,877.90, closed at 10,863.50, up 71 points, or 0.66 per cent. Intra-day, it fell to a low of 10,823.10.

Financial, capital goods, IT, power and oil and gas sector stocks hogged the limelight, helped indices to reclaim their key level.

Brokers said investors indulged in creating new positions following the beginning of the March futures and options (F&amp;O) series that led to the rally in the market.

Markets will remain closed on Monday on account of "Mahashivratri".&nbsp;

Meanwhile, on a net basis, FIIs bought shares worth Rs 3,210.6 crore, while domestic institutional investors (DIIs) sold shares worth Rs 5,240.62 crore on Thursday, provisional data showed.

On the macro-economic front, however, traders looked somewhat hesitant after country's economic growth slowed down to a 5-quarter low of 6.6 per cent in October-December period, analysts said.

Economic growth estimate for the current fiscal year ending March 31 has been revised downwards to 7 per cent from the earlier estimate of 7.2 per cent. This is the lowest growth in the last five years.

The rupee depreciating by 27 paise to 70.99 against the dollar (intra-day) at the forex market and the international benchmak Brent crude surging to USD 66.55 per barrel, capped gains to some extent.

A firming trend in the rest of Asia, driven by a rally in Chinese markets after index publisher MSCI announced it would boost the proportion of mainland shares in its global benchmarks, also accelerated buying activities.

Market benchmark Sensex Friday rose over 196 points to end at 36,064 and also posted its second straight weekly gains amid signs of easing tensions between India and Pakistan.

Market benchmark Sensex Friday rose over 196 points to end at 36,064 and also posted its second straight weekly gains amid signs of easing tensions between India and Pakistan. The key BSE index also snapped its three-session losing run after the March derivatives series got off to a strong start coupled with uninterrupted foreign fund inflows. The 30-share Sensex opened positive and rallied to the session's high of 36,140.67 on widespread buying by participants. However, profit-booking in select counters trimmed the gains as the gauge settled 196.37 points, or 0.55 per cent, higher at 36,063.81. It had lost over 346 points in the previous three sessions due to geo-political tensions between India and Pakistan. For the week, the BSE Sensex rose 192.33 points, or 0.57 per cent, while the broader NSE Nifty gained 71.35 points, or 0.69 per cent. This was the second straight weekly gains for the index. The NSE Nifty, after hitting a high of 10,877.90, closed at 10,863.50, up 71 points, or 0.66 per cent. Intra-day, it fell to a low of 10,823.10. Financial, capital goods, IT, power and oil and gas sector stocks hogged the limelight, helped indices to reclaim their key level. Brokers said investors indulged in creating new positions following the beginning of the March futures and options (F&O) series that led to the rally in the market. Markets will remain closed on Monday on account of "Mahashivratri". Meanwhile, on a net basis, FIIs bought shares worth Rs 3,210.6 crore, while domestic institutional investors (DIIs) sold shares worth Rs 5,240.62 crore on Thursday, provisional data showed. On the macro-economic front, however, traders looked somewhat hesitant after country's economic growth slowed down to a 5-quarter low of 6.6 per cent in October-December period, analysts said. Economic growth estimate for the current fiscal year ending March 31 has been revised downwards to 7 per cent from the earlier estimate of 7.2 per cent. This is the lowest growth in the last five years. The rupee depreciating by 27 paise to 70.99 against the dollar (intra-day) at the forex market and the international benchmak Brent crude surging to USD 66.55 per barrel, capped gains to some extent. A firming trend in the rest of Asia, driven by a rally in Chinese markets after index publisher MSCI announced it would boost the proportion of mainland shares in its global benchmarks, also accelerated buying activities.

Sensex rebounds 196 points, posts second weekly gains as geopolitical tensions ease

The Income Tax Department will "only" issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest public communication.&nbsp;

The department said refunds will be sent to bank accounts as it will issue "only e-refunds from March 1, 2019." Link your PAN (permanent account number) with your bank account to get your refund directly, swiftly and securely, the department said in a public advisory issued Wednesday.&nbsp;

It added the bank account could be either savings, current, cash or overdraft.&nbsp;

Till now, the department used to issue refunds to taxpayers either in their bank accounts or through account payee cheques, on a case-to-case basis depending on the category of taxpayers.&nbsp;

The communication added taxpayers can check if their bank account is linked with their PAN by logging onto the e-filing website of the department--"https://www.Incometaxindiaefiling.Gov.In/"https://www.Incometaxindiaefiling.Gov.In

It said those who have not linked their PAN with their bank account should provide it to their home bank branch and also validate this over the e-filing website of the I-T Department.

Recently, the linking of the PAN with the Aadhaar-PAN has been made "mandatory" for those filing an Income Tax Return (ITR) and this procedure has to be "completed" by March 31 this year.

As per data updated till early this month, the I-T Department has so far issued 42 crore PANs, of which 23 crore have been linked with Aadhaar.

While Aadhaar is issued by the Unique Identification Authority of India (UIDAI) to a resident of India, PAN is a 10-digit alphanumeric number allotted by the IT Department to a person, firm or entity.&nbsp;

The Income Tax Department will "only" issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest public communication.

The Income Tax Department will "only" issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest public communication. The department said refunds will be sent to bank accounts as it will issue "only e-refunds from March 1, 2019." Link your PAN (permanent account number) with your bank account to get your refund directly, swiftly and securely, the department said in a public advisory issued Wednesday. It added the bank account could be either savings, current, cash or overdraft. Till now, the department used to issue refunds to taxpayers either in their bank accounts or through account payee cheques, on a case-to-case basis depending on the category of taxpayers. The communication added taxpayers can check if their bank account is linked with their PAN by logging onto the e-filing website of the department--"https://www.Incometaxindiaefiling.Gov.In/"https://www.Incometaxindiaefiling.Gov.In It said those who have not linked their PAN with their bank account should provide it to their home bank branch and also validate this over the e-filing website of the I-T Department. Recently, the linking of the PAN with the Aadhaar-PAN has been made "mandatory" for those filing an Income Tax Return (ITR) and this procedure has to be "completed" by March 31 this year. As per data updated till early this month, the I-T Department has so far issued 42 crore PANs, of which 23 crore have been linked with Aadhaar. While Aadhaar is issued by the Unique Identification Authority of India (UIDAI) to a resident of India, PAN is a 10-digit alphanumeric number allotted by the IT Department to a person, firm or entity.

Link your PAN with bank account: I-T department to issue only e-refunds from tomorow