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

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

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

India names 27 sites in Arunachal Pradesh

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

How many soldiers operate one S-400 battery?

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

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

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

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

Technology transfer deal boosts India's defence manufacturing ambitions

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

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

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

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

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

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

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

RSS says Gen Z protests reflect genuine distress

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

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

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

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

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

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

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

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

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

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

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

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

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

Delhi's Patiala House Court on Tuesday extended interim protection granted to P Chidambaram and his son Karti Chidambaram till August 7 in connection with Aircel-Maxis case.

The former finance minister was given protection from arrest by the Enforcement Directorate till July 10 by the Court.

Earlier, Chidambaram had appeared before the Central Bureau of Investigation (CBI) in the case.

The Aircel-Maxis deal case, which emerged out of 2G spectrum cases, pertains to a grant by the Foreign Investment Promotion Board (FIPB) to firm M/S Global Communication Holding Services Ltd for investment in Aircel.

The ED had earlier said that the FIPB approval granted in 2006 by Chidambaram was beyond his mandate as he was only authorised to accord approval on project proposals up to Rs 600 crore.

P Chidambaram's son Karti was arrested on February 28 at the Chennai airport upon his return from the United Kingdom, for his alleged role in the case. Currently, Karti is on bail too.&nbsp

P Chidambaram's son Karti was arrested on February 28 at the Chennai airport upon his return from the United Kingdom, for his alleged role in the case. Currently, Karti is on bail too.

Delhi's Patiala House Court on Tuesday extended interim protection granted to P Chidambaram and his son Karti Chidambaram till August 7 in connection with Aircel-Maxis case. The former finance minister was given protection from arrest by the Enforcement Directorate till July 10 by the Court. Earlier, Chidambaram had appeared before the Central Bureau of Investigation (CBI) in the case. The Aircel-Maxis deal case, which emerged out of 2G spectrum cases, pertains to a grant by the Foreign Investment Promotion Board (FIPB) to firm M/S Global Communication Holding Services Ltd for investment in Aircel. The ED had earlier said that the FIPB approval granted in 2006 by Chidambaram was beyond his mandate as he was only authorised to accord approval on project proposals up to Rs 600 crore. P Chidambaram's son Karti was arrested on February 28 at the Chennai airport upon his return from the United Kingdom, for his alleged role in the case. Currently, Karti is on bail too.

Aircel-Maxis case: Court extends interim protection granted to Chidambaram, Karti till August 7

Equity benchmarks have begun the day on a strong note, with the Sensex conquering 36,000-mark in the opening tick, while the Nifty is just short of 10,900.

Shares of Reliance Industries, ONGC, Adani Ports, Bajaj Auto were trading up by more than 1% each. In the Nifty, Shares of HCL Tech, Hindalco and ONGC gained by more than 1% each.&nbsp

The domestic stock markets continued the strong momentum gained yesterday, tracking positive global cues and ahead of&nbspTata&nbspConsultancy Services (TCS) Q1 earnings later in the day.

Last month, its peers Tata Consultancy Services also announced a mega Rs 16,000 crore share buyback while&nbspInfosys&nbspcompleted its Rs 13,000-crore share buyback last year.

The BSE Sensex opened in the green on Tuesday, with the 30-share Sensex opening more than 100 points higher.

Equity benchmarks have begun the day on a strong note, with the Sensex conquering 36,000-mark in the opening tick, while the Nifty is just short of 10,900. Shares of Reliance Industries, ONGC, Adani Ports, Bajaj Auto were trading up by more than 1% each. In the Nifty, Shares of HCL Tech, Hindalco and ONGC gained by more than 1% each. The domestic stock markets continued the strong momentum gained yesterday, tracking positive global cues and ahead of&nbspTata&nbspConsultancy Services (TCS) Q1 earnings later in the day. Last month, its peers Tata Consultancy Services also announced a mega Rs 16,000 crore share buyback while&nbspInfosys&nbspcompleted its Rs 13,000-crore share buyback last year.

Sensex opens over 100 points higher; Nifty nears 10,900

Asian shares rallied for a third session on Tuesday as hopes for upbeat corporate earnings buoyed Wall Street, while several high-profile resignations from Britain's government kept sterling on the defensive.

MSCI's broadest index of Asia-Pacific shares outside Japan put on 0.4 per cent in early trade, adding to a 1.3 per cent rise on Monday.

Japan's Nikkei climbed about 1 per cent and South Korea 0.5 per cent, while E-mini futures for the S&P 500 firmed 0.2 per cent.

Chinese shares were a bit soft with Shanghai blue chips off 0.2 per cent after climbing 2.8 per cent on Monday for the biggest daily jump since August 2016.

Both the Dow and S&P 500 boasted their biggest gains in more than a month overnight, as bank shares jumped ahead of earnings reports later this week. The S&P banks index posted its sharpest rise since March 26.

The Dow rose 1.31 per cent, while the S&P 500 gained 0.88 per cent and the Nasdaq 0.88 per cent.

"Many investors are looking ahead to second-quarter earnings season, which begins in earnest Friday...to see how the trade threat is affecting companies," said James McGlew, Perth-based analyst at stockbroking firm Argonaut.

Investors have been on edge recently with the United States and China slapping levies on each other's exports, spurring fears of a global growth slowdown and hurting stocks and commodities.

The story in currency markets was all about political capers in London.

Prime Minister Theresa May's foreign minister and Brexit negotiator quit on Monday in protest at her plans to keep close trade ties with the European Union after Britain leaves the bloc, stirring rebellion in her party's ranks.

Foreign Secretary <a href="http://cmsuat.wionews.com/world/uk-foreign-minister-boris-johnson-resigns-150266">Boris Johnson stepped down</a> just hours after Brexit minister <a href="http://cmsuat.wionews.com/world/brexit-secretary-david-davis-steps-down-reports-150034">David Davis's resignation</a>, emboldening some in her Conservative Party to mull a plot to unseat her.

The uncertainty saw sterling sink as deep as $1.3189 at one stage before bouncing somewhat to $1.3254. It was last down 0.1 per cent at $1.3248.

Markets still think it likely the Bank of England will hike rates in August, but a full-blown political crisis could change that.

"Heightened political risk at home coupled with Brexit uncertainty may prompt the BOE to repeatedly delay monetary policy normalization in 2018," said Lukman Otunuga, a research analyst at broker FXTM.

"If expectations continue to diminish over the central bank raising UK interest rates, sterling is at risk of experiencing heavy losses down the road."

The pound's pain was a boon for the US&nbsp;dollar which rallied broadly on expectations the Federal Reserve will keep raising its interest rates.

Against a basket of currencies, the dollar bounced to 94.083 from a low of 93.713. The dollar also edged up to 111.01 yen, from a trough of 110.30.

The euro was back at $1.1755, having run into profit-taking at a three-week peak of $1.1790 overnight.

In commodity markets, oil gained on supply disruptions in Canada and Libya and ahead of looming sanctions on Iran.

US crude added 14 cents to $73.99, while Brent rose 23 cents to $78.30 a barrel.

Spot gold was a fraction firmer at $1,259.02.

Japan's Nikkei climbed about 1 per cent and South Korea 0.5 per cent, while E-mini futures for the S&P 500 firmed 0.2 per cent

Asian shares rallied for a third session on Tuesday as hopes for upbeat corporate earnings buoyed Wall Street, while several high-profile resignations from Britain's government kept sterling on the defensive. MSCI's broadest index of Asia-Pacific shares outside Japan put on 0.4 per cent in early trade, adding to a 1.3 per cent rise on Monday. Japan's Nikkei climbed about 1 per cent and South Korea 0.5 per cent, while E-mini futures for the S&P 500 firmed 0.2 per cent. Chinese shares were a bit soft with Shanghai blue chips off 0.2 per cent after climbing 2.8 per cent on Monday for the biggest daily jump since August 2016. Both the Dow and S&P 500 boasted their biggest gains in more than a month overnight, as bank shares jumped ahead of earnings reports later this week. The S&P banks index posted its sharpest rise since March 26. The Dow rose 1.31 per cent, while the S&P 500 gained 0.88 per cent and the Nasdaq 0.88 per cent. "Many investors are looking ahead to second-quarter earnings season, which begins in earnest Friday...to see how the trade threat is affecting companies," said James McGlew, Perth-based analyst at stockbroking firm Argonaut. Investors have been on edge recently with the United States and China slapping levies on each other's exports, spurring fears of a global growth slowdown and hurting stocks and commodities. The story in currency markets was all about political capers in London. Prime Minister Theresa May's foreign minister and Brexit negotiator quit on Monday in protest at her plans to keep close trade ties with the European Union after Britain leaves the bloc, stirring rebellion in her party's ranks. Foreign Secretary Boris Johnson stepped down just hours after Brexit minister David Davis's resignation, emboldening some in her Conservative Party to mull a plot to unseat her. The uncertainty saw sterling sink as deep as $1.3189 at one stage before bouncing somewhat to $1.3254. It was last down 0.1 per cent at $1.3248. Markets still think it likely the Bank of England will hike rates in August, but a full-blown political crisis could change that. "Heightened political risk at home coupled with Brexit uncertainty may prompt the BOE to repeatedly delay monetary policy normalization in 2018," said Lukman Otunuga, a research analyst at broker FXTM. "If expectations continue to diminish over the central bank raising UK interest rates, sterling is at risk of experiencing heavy losses down the road." The pound's pain was a boon for the US dollar which rallied broadly on expectations the Federal Reserve will keep raising its interest rates. Against a basket of currencies, the dollar bounced to 94.083 from a low of 93.713. The dollar also edged up to 111.01 yen, from a trough of 110.30. The euro was back at $1.1755, having run into profit-taking at a three-week peak of $1.1790 overnight. In commodity markets, oil gained on supply disruptions in Canada and Libya and ahead of looming sanctions on Iran. US crude added 14 cents to $73.99, while Brent rose 23 cents to $78.30 a barrel. Spot gold was a fraction firmer at $1,259.02.

Asia shares rise for the third day, pound bewildered by politics

Yahoo Japan Corp is buying back around $2 billion worth of its shares from SoftBank Group Corp as part of a three-way deal with its top shareholders, U.S. investment firm Altaba Inc and SoftBank.

The deal will see Altaba, which was formerly the internet giant Yahoo! Inc, sell down its stake in Yahoo Japan by around $2 billion and SoftBank raise its stake slightly in Yahoo Japan to around 48 per cent.

According to the structuring of the deal, SoftBank will buy 221 billion yen ($1.99 billion) of Yahoo Japan shares from Altaba, Yahoo Japan's second largest shareholder, via a tender offer at 360 yen per share, equivalent to Monday's close.

Yahoo Japan will then buy back 220 billion yen of stock from SoftBank. As a result of the transaction SoftBank's stake in Yahoo Japan will rise to 48.17 per cent from 42.95 per cent now, and Altaba will have about 27 per cent.

Altaba has been selling down its Yahoo Japan stake. Two Altaba appointments to the Yahoo Japan board will step down as a result of the transaction announced on Tuesday.

SoftBank said in a statement the deal will strengthen cooperation between the company, one of Japan's big three telecoms firms, and Yahoo Japan, an internet heavyweight in areas such as news and shopping.

The news comes as SoftBank prepares to list its domestic telecoms unit in what could be the largest Japanese IPO in nearly two decades.

Yahoo Japan shares were up nearly 12 per cent in morning Tokyo trading. SoftBank shares were up 2 per cent, with the benchmark Nikkei 225 index up 1 per cent.

The deal will see Altaba, which was formerly the internet giant Yahoo! Inc, sell down its stake in Yahoo Japan by around $2 billion and SoftBank raise its stake slightly in Yahoo Japan to around 48 per cent.

Yahoo Japan Corp is buying back around $2 billion worth of its shares from SoftBank Group Corp as part of a three-way deal with its top shareholders, U.S. investment firm Altaba Inc and SoftBank. The deal will see Altaba, which was formerly the internet giant Yahoo! Inc, sell down its stake in Yahoo Japan by around $2 billion and SoftBank raise its stake slightly in Yahoo Japan to around 48 per cent. According to the structuring of the deal, SoftBank will buy 221 billion yen ($1.99 billion) of Yahoo Japan shares from Altaba, Yahoo Japan's second largest shareholder, via a tender offer at 360 yen per share, equivalent to Monday's close. Yahoo Japan will then buy back 220 billion yen of stock from SoftBank. As a result of the transaction SoftBank's stake in Yahoo Japan will rise to 48.17 per cent from 42.95 per cent now, and Altaba will have about 27 per cent. Altaba has been selling down its Yahoo Japan stake. Two Altaba appointments to the Yahoo Japan board will step down as a result of the transaction announced on Tuesday. SoftBank said in a statement the deal will strengthen cooperation between the company, one of Japan's big three telecoms firms, and Yahoo Japan, an internet heavyweight in areas such as news and shopping. The news comes as SoftBank prepares to list its domestic telecoms unit in what could be the largest Japanese IPO in nearly two decades. Yahoo Japan shares were up nearly 12 per cent in morning Tokyo trading. SoftBank shares were up 2 per cent, with the benchmark Nikkei 225 index up 1 per cent.

Yahoo Japan buys back $2 billion of shares in three-way deal with SoftBank, Altaba

China on Monday said it has clinched a deal with India on the reduction of import duties on Indian medicines including anti-cancer drugs, which are highly expensive in the country.

Beijing, which earlier announced a cut on import duties on over 8,500 Indian items, said it will relax taxes on more goods from India and other countries as its trade war with the US heats up.

New Delhi has been pressing Beijing to allow Indian pharma products, especially cancer-curing medicines, which are cheaper than the multinational drugs, to address the USD 51 billion deficit in about USD 84 billion bilateral trade.

However, it is not yet clear whether China has agreed to grant licences to Indian companies to sell cancer drugs in the huge market here, which could be a major step.&nbsp;

About 4.3 million people are diagnosed with cancer annually in China, according to a report of the state-run China Central Television. Indian drugs, especially cancer-curing medicines, are in big demand in China as they are far cheaper than their western counterparts. &nbsp;

"We have seen China and India have reached agreement on the reduction of tariffs on medicines. For specifics, I will refer you to relevant competent authorities," Chinese foreign ministry spokesperson Hua Chunying told a media briefing here.

"We believe the expansion of imports and slashing of tariffs on anti-cancer medicines will also usher in great opportunities for India and other countries in the region," she added without providing any further detail.&nbsp;

Earlier in May, China had lifted tariffs on the import of cancer drugs. It was not clear whether Hua was referring to that announcement.&nbsp;

The May announcement had, however, failed to enthuse Indian companies as they cannot legally market their drugs in China as it requires a licence from the country's food and drug administration.&nbsp;

India has been demanding the opening of China's IT and pharmaceutical sectors as part of measures to reduce a USD 51 billion trade deficit in over USD 84 billion bilateral trade.&nbsp;

While announcing the agreement, Hua referred to a new Chinese film on the plight of a leukaemia patient, highlighting the pressing need for China to pave the way for import of cheap Indian cancer drugs.

"There is a popular movie now in China called 'Dying to Survive'. That movie is about zero tariffs imposition on anti-cancer medicines in China," she said.&nbsp;

Asked whether China would cut tariffs on Indian anti-cancer drugs, she said, "As far as I know, the pharmaceutical trade between China and India is growing continuously, and the two sides have maintained sound communication on promoting the entry of Indian pharmaceuticals into the Chinese market and carrying out dialogue and exchanges and cooperation on the pharmaceutical industry between China and India".

"The relevant departments have formulated specific measures on developing bilateral cooperation in the pharmaceutical trade between China and India and promoting the expansion of Indian drugs into the Chinese market. It is believed that expanding and deepening China-India pharmaceutical trade cooperation will further enhance the health and well-being of the two peoples," she said.

About the general reduction of tariffs, Hua said, "We have decided to expand our imports as well as opening up. This is what China needs in order to uphold the free trade and against protectionism. This is also in keeping up with our own pace of development and opening up." &nbsp;

"On July 1, the outcome of the round of negotiations under the Asia Pacific Trade Agreement released a document and we have agreed to slash tariffs by 33 per cent. So according to my understanding, the slashing of tariffs by the Indian side is also part of this negotiation...We will also impose a negotiated agreed tariff rate on relevant items in accordance with our regulations," she said.&nbsp;

The six member states of the agreement - China, India, South Korea, Sri Lanka, Bangladesh and Laos - will cut tariffs on a total of 10,312 taxable items, she said.

Hua said China has announced a series of measures to expand its opening up to the outside world, actively expand imports, significantly reduce the automobile parts and consumer goods import tariffs, also zero tariffs in anti-cancer drugs.

"This is a positive measure China has taken based on its own development needs. China will continue to expand its opening up in accordance with its own pace, goals and development needs. We believe that China's further expansion of imports and tax reductions will bring huge market opportunities to countries in the region, including India, as well as countries around the world," she said.

Both countries have stepped up negotiations for Chinese imports of Indian rice, sugar and pharmaceuticals after a meeting between Prime Minister Narendra Modi and President Xi Jinping during the April 28 Wuhan informal summit.

(With inputs from Agencies)

Beijing, which earlier announced a cut on import duties on over 8,500 Indian items, said it will relax taxes on more goods from India and other countries

China on Monday said it has clinched a deal with India on the reduction of import duties on Indian medicines including anti-cancer drugs, which are highly expensive in the country. Beijing, which earlier announced a cut on import duties on over 8,500 Indian items, said it will relax taxes on more goods from India and other countries as its trade war with the US heats up. New Delhi has been pressing Beijing to allow Indian pharma products, especially cancer-curing medicines, which are cheaper than the multinational drugs, to address the USD 51 billion deficit in about USD 84 billion bilateral trade. However, it is not yet clear whether China has agreed to grant licences to Indian companies to sell cancer drugs in the huge market here, which could be a major step. About 4.3 million people are diagnosed with cancer annually in China, according to a report of the state-run China Central Television. Indian drugs, especially cancer-curing medicines, are in big demand in China as they are far cheaper than their western counterparts. "We have seen China and India have reached agreement on the reduction of tariffs on medicines. For specifics, I will refer you to relevant competent authorities," Chinese foreign ministry spokesperson Hua Chunying told a media briefing here. "We believe the expansion of imports and slashing of tariffs on anti-cancer medicines will also usher in great opportunities for India and other countries in the region," she added without providing any further detail. Earlier in May, China had lifted tariffs on the import of cancer drugs. It was not clear whether Hua was referring to that announcement. The May announcement had, however, failed to enthuse Indian companies as they cannot legally market their drugs in China as it requires a licence from the country's food and drug administration. India has been demanding the opening of China's IT and pharmaceutical sectors as part of measures to reduce a USD 51 billion trade deficit in over USD 84 billion bilateral trade. While announcing the agreement, Hua referred to a new Chinese film on the plight of a leukaemia patient, highlighting the pressing need for China to pave the way for import of cheap Indian cancer drugs. "There is a popular movie now in China called 'Dying to Survive'. That movie is about zero tariffs imposition on anti-cancer medicines in China," she said. Asked whether China would cut tariffs on Indian anti-cancer drugs, she said, "As far as I know, the pharmaceutical trade between China and India is growing continuously, and the two sides have maintained sound communication on promoting the entry of Indian pharmaceuticals into the Chinese market and carrying out dialogue and exchanges and cooperation on the pharmaceutical industry between China and India". "The relevant departments have formulated specific measures on developing bilateral cooperation in the pharmaceutical trade between China and India and promoting the expansion of Indian drugs into the Chinese market. It is believed that expanding and deepening China-India pharmaceutical trade cooperation will further enhance the health and well-being of the two peoples," she said. About the general reduction of tariffs, Hua said, "We have decided to expand our imports as well as opening up. This is what China needs in order to uphold the free trade and against protectionism. This is also in keeping up with our own pace of development and opening up." "On July 1, the outcome of the round of negotiations under the Asia Pacific Trade Agreement released a document and we have agreed to slash tariffs by 33 per cent. So according to my understanding, the slashing of tariffs by the Indian side is also part of this negotiation...We will also impose a negotiated agreed tariff rate on relevant items in accordance with our regulations," she said. The six member states of the agreement - China, India, South Korea, Sri Lanka, Bangladesh and Laos - will cut tariffs on a total of 10,312 taxable items, she said. Hua said China has announced a series of measures to expand its opening up to the outside world, actively expand imports, significantly reduce the automobile parts and consumer goods import tariffs, also zero tariffs in anti-cancer drugs. "This is a positive measure China has taken based on its own development needs. China will continue to expand its opening up in accordance with its own pace, goals and development needs. We believe that China's further expansion of imports and tax reductions will bring huge market opportunities to countries in the region, including India, as well as countries around the world," she said. Both countries have stepped up negotiations for Chinese imports of Indian rice, sugar and pharmaceuticals after a meeting between Prime Minister Narendra Modi and President Xi Jinping during the April 28 Wuhan informal summit. (With inputs from Agencies)

As trade war with US heats up, China cuts duties on Indian medicines

India and South Korea signed 11 agreements&nbsp;on Tuesday&nbsp;to expand business ties and more than double mutual trade to $50 billion by 2030, a day after the premiers of the two countries launched a Samsung mobile phone factory near Delhi.

Major South Korean companies including Samsung and Hyundai Motor Company are household names across India, one of the world's fastest-growing markets, and visiting South Korean President Moon Jae-in said he hoped that smaller companies from his country could replicate that success.

"Going forward I hope that more Korean companies will invest in India so that the foundation for mutual prosperity can be further expanded," Moon said after meeting Prime Minister Narendra Modi on the third day of his four-day visit.

Bilateral trade between the world's seventh and 11th largest economies rose by nearly a quarter to $20.8 billion in the 2017/18 fiscal year that ended in March, with $16.4 billion of that in favour of South Korea.

The agreements signed between the countries included accelerating negotiations to upgrade a 'comprehensive economic partnership agreement'&nbsp;signed in 2009, as well as expand cooperation in railways, healthcare, telecommunications and cybersecurity.

They also agreed to explore a tripartite partnership for development in third countries, beginning with capacity building programmes in Afghanistan. India already has close ties with Afghanistan and is helping to rebuild the war-ravaged country.

Moon and Modi&nbsp;on Monday&nbsp;formally opened a new Samsung factory in Noida which the company called the world's biggest mobile phone manufacturing plant.

The plant's inauguration comes at a time when PM Modi, who faces an election next year, is trying to create new jobs for millions of Indians who join the workforce every year.

In an apparent endorsement of Modi's electoral prospects, Moon said he would eagerly await the Indian leader's visit to South Korea in 2020.

Modi, in turn, credited Moon for South Korea's peace breakthrough with North Korea and offered India's support in taking that forward.

Moon Jae-in and PM Narendra Modi on Monday formally opened a new Samsung factory in Noida which the company called the world`s biggest mobile phone manufacturing plant.

India and South Korea signed 11 agreements on Tuesday to expand business ties and more than double mutual trade to $50 billion by 2030, a day after the premiers of the two countries launched a Samsung mobile phone factory near Delhi. Major South Korean companies including Samsung and Hyundai Motor Company are household names across India, one of the world's fastest-growing markets, and visiting South Korean President Moon Jae-in said he hoped that smaller companies from his country could replicate that success. "Going forward I hope that more Korean companies will invest in India so that the foundation for mutual prosperity can be further expanded," Moon said after meeting Prime Minister Narendra Modi on the third day of his four-day visit. Bilateral trade between the world's seventh and 11th largest economies rose by nearly a quarter to $20.8 billion in the 2017/18 fiscal year that ended in March, with $16.4 billion of that in favour of South Korea. The agreements signed between the countries included accelerating negotiations to upgrade a 'comprehensive economic partnership agreement' signed in 2009, as well as expand cooperation in railways, healthcare, telecommunications and cybersecurity. They also agreed to explore a tripartite partnership for development in third countries, beginning with capacity building programmes in Afghanistan. India already has close ties with Afghanistan and is helping to rebuild the war-ravaged country. Moon and Modi on Monday formally opened a new Samsung factory in Noida which the company called the world's biggest mobile phone manufacturing plant. The plant's inauguration comes at a time when PM Modi, who faces an election next year, is trying to create new jobs for millions of Indians who join the workforce every year. In an apparent endorsement of Modi's electoral prospects, Moon said he would eagerly await the Indian leader's visit to South Korea in 2020. Modi, in turn, credited Moon for South Korea's peace breakthrough with North Korea and offered India's support in taking that forward.

India, South Korea aim to more than double trade to $50 billion

According to reports, Andhra Pradesh has topped all states in the 'ease of doing business' ranking by the World Bank and the Department of Industrial Policy and Promotion.&nbsp;

As per the release, Andhra Pradesh emerges as the most business-friendly state in the country followed by neighbouring Telangana, Haryana, Jharkhand and Gujarat.

Indian states of Chhattisgarh, Madhya Pradesh, Karnataka and Rajasthan find mention in the top 10 slots while national capital Delhi fares poorly on the list dropping to the 23rd slot from the previously held 19th spot.&nbsp;

The rankings have assessed all Indian states on the efficiency of business reforms implementation.&nbsp;

Andhra Pradesh emerges as the most business-friendly state in the country followed by neighbouring Telangana, Haryana, Jharkhand and Gujarat

According to reports, Andhra Pradesh has topped all states in the 'ease of doing business' ranking by the World Bank and the Department of Industrial Policy and Promotion. As per the release, Andhra Pradesh emerges as the most business-friendly state in the country followed by neighbouring Telangana, Haryana, Jharkhand and Gujarat. Indian states of Chhattisgarh, Madhya Pradesh, Karnataka and Rajasthan find mention in the top 10 slots while national capital Delhi fares poorly on the list dropping to the 23rd slot from the previously held 19th spot. The rankings have assessed all Indian states on the efficiency of business reforms implementation.

Andhra Pradesh tops 'ease of doing business' index; Delhi slips to 23rd spot

Airbus chief executive Tom Enders gave his backing to the latest Brexit position set out by British Prime Minister Theresa May, softening criticism made&nbsp;on Friday&nbsp;when he had stated May's government had "no clue" over the process.

"The Chequers statement appears to show that HM Government are going in the right direction. We are not shy to request that Brussels and our other home countries are similarly pragmatic and fair," said Enders on Airbus' official&nbsp;Twitter account.

After an hours-long meeting last week at her Chequers country residence, May seemed to have persuaded the most vocal Brexit campaigners in the cabinet to back her plan to press for "a free trade area for goods" with the EU and maintain close trade ties.

However, Boris Johnson and David Davis resigned from their respective posts as foreign minister and Brexit negotiator in protest at May's plans to keep close trade ties with the European Union after Britain leaves the bloc.

The backing by Tom Enders softens criticism made on Friday when he had stated, May's government had 'no clue' over the process.

Airbus chief executive Tom Enders gave his backing to the latest Brexit position set out by British Prime Minister Theresa May, softening criticism made on Friday when he had stated May's government had "no clue" over the process. "The Chequers statement appears to show that HM Government are going in the right direction. We are not shy to request that Brussels and our other home countries are similarly pragmatic and fair," said Enders on Airbus' official Twitter account. After an hours-long meeting last week at her Chequers country residence, May seemed to have persuaded the most vocal Brexit campaigners in the cabinet to back her plan to press for "a free trade area for goods" with the EU and maintain close trade ties. However, Boris Johnson and David Davis resigned from their respective posts as foreign minister and Brexit negotiator in protest at May's plans to keep close trade ties with the European Union after Britain leaves the bloc.

Airbus boss Enders backs UK PM May's latest Brexit position

Singapore investment giant Temasek Holdings said Tuesday the value of its global portfolio reached a record high last year but will temper investments this year owing to brewing trade and geopolitical tensions.

Net global holdings expanded to Sg$308 billion ($235 billion) in the financial year ended March 31, up 12 per cent from the year before in local currency terms, the company said in its annual report.

Temasek, one of the city-state's two main investment vehicles, said it invested Sg$29 billion over the past year and divested Sg$16 billion.

"This record net portfolio value... was up Sg$33 billion from last year, bolstered by good global economic momentum and buoyant equity markets," chairman Lim Boon Heng said in the firm's annual report.

He added however that "we are tempering our investment pace in the year ahead", citing downside risks including "rising trade and geopolitical tensions, plus monetary and financial stresses in some key economies".

The United States and China have slapped tit-for-tat tariffs worth tens of billions of dollars on each other's goods in an escalation of trade tensions analysts fear could boil over into a full-blown trade war that could spread globally.

Temasek head of strategy Michael Buchanan told reporters at a news briefing the company does not envision such a scenario but it still worries about the tensions spreading.

"We don't expect a full-blown trade war with punitive tariffs on a wide range of goods and (involving) a wide range of countries," he said.

"We do think however that there will be continued tensions... Obviously, we are worried that this could escalate. One thing in particular we are watching is whether the tensions go beyond just the US and China and then move to other countries," he added.

The United States accounted for the largest share of Temasek's new investments last year, followed by China and Europe.

Since 2011, the company has increased its investment focus on technology, life sciences, agribusiness, non-bank financial services and consumer sectors.

Investments in these sectors total around Sg$80 billion, nine times more than in 2011. It also accounts for 26 per cent of the firm's total portfolio.

Temasek invested mainly in Singapore companies in its early years but has evolved into a global player.

It owns shares in many of Singapore's top companies including DBS Bank and Singapore Airlines but its other investments span the globe.

Net global holdings expanded to Sg$308 billion ($235 billion) in the financial year ended March 31, up 12 per cent from the year before in local currency terms, the company said in its annual report

Singapore investment giant Temasek Holdings said Tuesday the value of its global portfolio reached a record high last year but will temper investments this year owing to brewing trade and geopolitical tensions. Net global holdings expanded to Sg$308 billion ($235 billion) in the financial year ended March 31, up 12 per cent from the year before in local currency terms, the company said in its annual report. Temasek, one of the city-state's two main investment vehicles, said it invested Sg$29 billion over the past year and divested Sg$16 billion. "This record net portfolio value... was up Sg$33 billion from last year, bolstered by good global economic momentum and buoyant equity markets," chairman Lim Boon Heng said in the firm's annual report. He added however that "we are tempering our investment pace in the year ahead", citing downside risks including "rising trade and geopolitical tensions, plus monetary and financial stresses in some key economies". The United States and China have slapped tit-for-tat tariffs worth tens of billions of dollars on each other's goods in an escalation of trade tensions analysts fear could boil over into a full-blown trade war that could spread globally. Temasek head of strategy Michael Buchanan told reporters at a news briefing the company does not envision such a scenario but it still worries about the tensions spreading. "We don't expect a full-blown trade war with punitive tariffs on a wide range of goods and (involving) a wide range of countries," he said. "We do think however that there will be continued tensions... Obviously, we are worried that this could escalate. One thing in particular we are watching is whether the tensions go beyond just the US and China and then move to other countries," he added. The United States accounted for the largest share of Temasek's new investments last year, followed by China and Europe. Since 2011, the company has increased its investment focus on technology, life sciences, agribusiness, non-bank financial services and consumer sectors. Investments in these sectors total around Sg$80 billion, nine times more than in 2011. It also accounts for 26 per cent of the firm's total portfolio. Temasek invested mainly in Singapore companies in its early years but has evolved into a global player. It owns shares in many of Singapore's top companies including DBS Bank and Singapore Airlines but its other investments span the globe.

Singapore's Temasek reports record $235 bn portfolio

Indian shares rose for a third straight session&nbsp;on Tuesday&nbsp;and posted their highest close in more than five months, led by financials such as Housing Development Finance Corp (HDFC) and energy stocks including Reliance Industries Ltd.

The broader NSE Nifty gained 0.87 per cent to 10,947.25, while the benchmark BSE Sensex rose 0.85 per cent to 36,239.62. The NSE index posted its highest close since&nbsp;Feb. 1, while the BSE index marked its highest close since&nbsp;Jan. 29.

Reliance Industries climbed 2.9 per cent, while HDFC rose 2 per cent.&nbsp;

Tata Consultancy Services Ltd, which is due to report its quarterly results later in the day, closed 0.4 per cent lower.

The broader NSE Nifty gained 0.87 per cent to 10,947.25, while the benchmark BSE Sensex rose 0.85 per cent to 36,239.62.

Indian shares rose for a third straight session on Tuesday and posted their highest close in more than five months, led by financials such as Housing Development Finance Corp (HDFC) and energy stocks including Reliance Industries Ltd. The broader NSE Nifty gained 0.87 per cent to 10,947.25, while the benchmark BSE Sensex rose 0.85 per cent to 36,239.62. The NSE index posted its highest close since Feb. 1, while the BSE index marked its highest close since Jan. 29. Reliance Industries climbed 2.9 per cent, while HDFC rose 2 per cent. Tata Consultancy Services Ltd, which is due to report its quarterly results later in the day, closed 0.4 per cent lower.

Sensex extends gain to over five-month closing high

The National Company Law Tribunal (NCLT) on Monday dismissed Cyrus Mistry's plea against the Tata Sons group, according to media reports.

Reports added that the NCLT ruled that the board of directors was competent to remove an executive chairman.

The NCLT was expected to deliver its judgement last week but had adjourned it to&nbsp;July 9.&nbsp;

Mistry’s family owns over 18% stake in Tata Sons, the holding company of Tata Group, though its holding with voting rights is only under 4%.&nbsp;

Mistry had taken over as the chairman of Tata Group in 2012 after Ratan Tata announced his retirement.&nbsp;

Mistry, who was the sixth chairman of Tata Sons, was ousted from the position in October 2016. Two months later, Mistry and his family-run investment firm, Cyrus Investments, approached the NCLT, as minority shareholders, against Tata Sons and others including Ratan Tata alleging oppression and mismanagement.

Mistry, in the petition filed under the Companies Act, claimed that his removal was a result of mismanagement by the board’s trustees and oppression of minority shareholders of the group. Mistry in his plea claimed that his removal as chairman was without reason and amounted to the majority shareholders suppressing the right of the minority to ask questions about matters involving the company.

The Tata group argued that the law clearly allows removal of a chairperson and director and Mistry was removed by a majority of 7 out of 9, as Mistry had not voted for his removal and another official had abstained.

The first allegation by Mistry was that his removal as chairman and subsequently as director of the board of Tata Sons was a result of oppression by promoters, who are in-turn owned by Tata Trusts that owns over 68% in Tata Sons. The second part of the plea focused on the alleged mismanagement by Tata Sons board and Ratan Tata which caused revenue loss for the group.

(With inputs from PTI)

Mistry’s family owns over 18% stake in Tata Sons, the holding company of Tata Group, though holding with voting rights is only under 4%.

The National Company Law Tribunal (NCLT) on Monday dismissed Cyrus Mistry's plea against the Tata Sons group, according to media reports. Reports added that the NCLT ruled that the board of directors was competent to remove an executive chairman. The NCLT was expected to deliver its judgement last week but had adjourned it to July 9. Mistry’s family owns over 18% stake in Tata Sons, the holding company of Tata Group, though its holding with voting rights is only under 4%. Mistry had taken over as the chairman of Tata Group in 2012 after Ratan Tata announced his retirement. Mistry, who was the sixth chairman of Tata Sons, was ousted from the position in October 2016. Two months later, Mistry and his family-run investment firm, Cyrus Investments, approached the NCLT, as minority shareholders, against Tata Sons and others including Ratan Tata alleging oppression and mismanagement. Mistry, in the petition filed under the Companies Act, claimed that his removal was a result of mismanagement by the board’s trustees and oppression of minority shareholders of the group. Mistry in his plea claimed that his removal as chairman was without reason and amounted to the majority shareholders suppressing the right of the minority to ask questions about matters involving the company. The Tata group argued that the law clearly allows removal of a chairperson and director and Mistry was removed by a majority of 7 out of 9, as Mistry had not voted for his removal and another official had abstained. The first allegation by Mistry was that his removal as chairman and subsequently as director of the board of Tata Sons was a result of oppression by promoters, who are in-turn owned by Tata Trusts that owns over 68% in Tata Sons. The second part of the plea focused on the alleged mismanagement by Tata Sons board and Ratan Tata which caused revenue loss for the group. (With inputs from PTI)

Cyrus Mistry-Tata Sons row: NCLT rules in favour of Tata, says board of directors can remove chairman

Shares of Chinese smartphone maker Xiaomi opened for trade down more than 2 percent on their debut in Hong Kong on Monday, following a disappointing pricing and a listing delay in mainland China.

Xiaomi shares disappointment on Day 1: Shares fall by 6 per cent

Tripura Chief Minister Biplab Kumar Deb on Sunday, demanded that Bangladesh should liberalise its import rules so that the products from Tripura could be easily exported to the neighbouring country.

"There are barriers in exporting products like rubber sheet from Tripura to Bangladesh, however, the same products could be sent through Benapole border. We have listed 17 items which we want to export to Bangladesh through Akhaura border here", said Tripura CM.

According to Deb, if these items can legally be exported then both the governments will be benefited in the form of revenue and stop illegal trade. 
The 17 items that the Tripura Chief Minister wants to export to Bangladesh include rubber sheet, tea, cash nut, pineapples, jackfruits, ginger and black pepper.

Deb said that he would also raise this point in the meeting of North Eastern Council to begin in Shillong on July 9, where many Central Ministers including Home Minister Rajnath Singh would be in attendance.

Deb added that he would also take up the matter with External Affairs Minister Sushma Swaraj, NITI Ayog and even the Prime Minister.

"We get many items from Bangladesh, including tasty Hilsa and even vegetables and that is why the government of India is opening border 'haats'. We have proposed for four more border 'haats' so that the economy of Tripura can grow through legal trade," he said.

Chief Minister further said Tripura government was also working hard to implement the Prime Minister Narendra Modi's target of doubling the income of the farmers by 2022.

He informed that Tripura holds the first position in water-efficient farming states in the Northeastern region.

According to Deb, if these items can legally be exported then both the governments will be benefited in the form of revenue and stop illegal trade.

Tripura Chief Minister Biplab Kumar Deb on Sunday, demanded that Bangladesh should liberalise its import rules so that the products from Tripura could be easily exported to the neighbouring country. "There are barriers in exporting products like rubber sheet from Tripura to Bangladesh, however, the same products could be sent through Benapole border. We have listed 17 items which we want to export to Bangladesh through Akhaura border here", said Tripura CM. According to Deb, if these items can legally be exported then both the governments will be benefited in the form of revenue and stop illegal trade. The 17 items that the Tripura Chief Minister wants to export to Bangladesh include rubber sheet, tea, cash nut, pineapples, jackfruits, ginger and black pepper. Deb said that he would also raise this point in the meeting of North Eastern Council to begin in Shillong on July 9, where many Central Ministers including Home Minister Rajnath Singh would be in attendance. Deb added that he would also take up the matter with External Affairs Minister Sushma Swaraj, NITI Ayog and even the Prime Minister. "We get many items from Bangladesh, including tasty Hilsa and even vegetables and that is why the government of India is opening border 'haats'. We have proposed for four more border 'haats' so that the economy of Tripura can grow through legal trade," he said. Chief Minister further said Tripura government was also working hard to implement the Prime Minister Narendra Modi's target of doubling the income of the farmers by 2022. He informed that Tripura holds the first position in water-efficient farming states in the Northeastern region.

Bangladesh should liberalise import rules: Tripura CM

The benchmark indices have opened sharply higher on Monday taking cues from their global peers.

The Sensex of the BSE surged 273.23 points to a high of&nbsp;35,931.09 points in opening trade on Monday.&nbsp;

The Nifty of the National Stock Exchange (NSE) edged higher by 72.05 points to a high of&nbsp;10,844.70 points in early trade.&nbsp;

Shares of Vedanta, Bajaj Auto, Yes Bank, ICICI Bank, Tata Steel, Tata Motors, Reliance Industries and M&M gained over 1% in early trade on Monday.

Meanwhile, the upcoming June quarterly results season, along with macroeconomic data on industrial output and inflation, is likely to determine the markets during the week.

The Sensex of the BSE surged 273.23 points to a high of 35,931.09 points in opening trade on Monday. The Nifty edged higher by 72.05 points to a high of 10,844.70 points.

The benchmark indices have opened sharply higher on Monday taking cues from their global peers. The Sensex of the BSE surged 273.23 points to a high of 35,931.09 points in opening trade on Monday. The Nifty of the National Stock Exchange (NSE) edged higher by 72.05 points to a high of 10,844.70 points in early trade. Shares of Vedanta, Bajaj Auto, Yes Bank, ICICI Bank, Tata Steel, Tata Motors, Reliance Industries and M&M gained over 1% in early trade on Monday. Meanwhile, the upcoming June quarterly results season, along with macroeconomic data on industrial output and inflation, is likely to determine the markets during the week.

Sensex jumps 230 points, Nifty rises above 10,800

According to reports, the telecom ministry (DoT) today granted conditional approval to the long-pending Vodafone India-Idea Cellular merger. Debt-ridden Idea Cellular and Vodafone India will get a breather from a merger that is set to create the country's largest mobile services operator, an official source said.

"DoT has cleared the Vodafone-Idea merger today. They will have to meet conditions for final approval," the source told PTI.

A total sum of Rs 3,926 crore will be paid to the department in cash as a one-time spectrum charge. The DoT has also asked Idea Cellular to furnish a combined bank guarantee of Rs 3,342 crore, the source further said.&nbsp

Idea and Vodafone will merge their operations to create the country's largest telecom operator worth over USD 23 billion (or over Rs 1.5 lakh crore). The merge will enjoy a 35 per cent market share and a subscriber base of around 430 million.

Idea Cellular and Vodafone India reel from a combined debt estimated at around Rs 1.15 lakh crore.

"The merger will be taken on-record after Idea furnishes required bank guarantee and gives an undertaking of owning the liabilities of Vodafone India that may arise in future," the source said.

Vodafone will own 45.1 per cent in the combined entity, while Kumar Mangalam Birla-led Aditya Birla Group would have 26 per cent and Idea shareholders 28.9 per cent respectively.

According to a presentation by Idea, the combined 4G spectrum of both the companies are capable of offering up to 450 megabits per second broadband speed on mobile phones in 12 Indian markets.

With the new entity coming in force, Bharti Airtel will lose the tag of India's biggest telecom service provider to the new entity which is proposed to be called Vodafone Idea Limited.&nbsp

&nbsp

A total sum of Rs 3,926 crore will be paid to the department in cash as a one-time spectrum charge

According to reports, the telecom ministry (DoT) today granted conditional approval to the long-pending Vodafone India-Idea Cellular merger. Debt-ridden Idea Cellular and Vodafone India will get a breather from a merger that is set to create the country's largest mobile services operator, an official source said. "DoT has cleared the Vodafone-Idea merger today. They will have to meet conditions for final approval," the source told PTI. A total sum of Rs 3,926 crore will be paid to the department in cash as a one-time spectrum charge. The DoT has also asked Idea Cellular to furnish a combined bank guarantee of Rs 3,342 crore, the source further said. Idea and Vodafone will merge their operations to create the country's largest telecom operator worth over USD 23 billion (or over Rs 1.5 lakh crore). The merge will enjoy a 35 per cent market share and a subscriber base of around 430 million. Idea Cellular and Vodafone India reel from a combined debt estimated at around Rs 1.15 lakh crore. "The merger will be taken on-record after Idea furnishes required bank guarantee and gives an undertaking of owning the liabilities of Vodafone India that may arise in future," the source said. Vodafone will own 45.1 per cent in the combined entity, while Kumar Mangalam Birla-led Aditya Birla Group would have 26 per cent and Idea shareholders 28.9 per cent respectively. According to a presentation by Idea, the combined 4G spectrum of both the companies are capable of offering up to 450 megabits per second broadband speed on mobile phones in 12 Indian markets. With the new entity coming in force, Bharti Airtel will lose the tag of India's biggest telecom service provider to the new entity which is proposed to be called Vodafone Idea Limited.

Telecom ministry grants conditional approval to Idea-Vodafone merger 

Market benchmark Sensex surged by around 277 points to close at more than five-month high of 35,934.72 today on heavy buying in energy, capital goods, power and banking stocks following positive leads from global markets and a strengthening rupee.

The broad-based NSE Nifty too went past the 10,800-mark as investors shifted focus on corporate earnings from trade tensions.

The BSE Sensex rallied for the second day by rising 276.86 points or 0.78 per cent to settle at 35,934.72, the highest closing level since January 31, when it had closed at 35,965.02. The NSE Nifty ended 80.25 points or 0.74 per cent higher at 10,852.90.

Asian markets mostly closed higher and European stock markets advanced in opening trade, tracking gains on Wall Street on Friday after a strong jobs data for June allayed fears of impact of the US-China trade dispute.

Appreciating rupee against the dollar and fresh buying by domestic institutional investors added to the momentum, brokers said.

Investors were also looking forward to the quarterly results of IT majors TCS and Infosys that will kick-start the earnings season later this week, they added.

Infosys was up 1.14 per cent at Rs 1,299.15, while TCS was trading lower by 1.34 per cent at Rs 1,887.65.

Other IT counters like HCL Technology, Tech Mahindra and Wipro gained up to 1.68 per cent.

The 30-share BSE Sensex opened on a strong footing at 35,835.10 and maintained its upward trend to hit the day's high of 35,977.37. It finally ended at 35,934.72, up 276.86 points, or 0.78 per cent.

The gauge had gained 83.31 points in the previous session on Friday.

The Nifty finished the day at 10,852.90, showing a gain of 80.25 points or 0.74 per cent after shuttling between 10,860.35 and 10,807.15. This is the highest closing since June 13, 2018 when it had closed at 10,856.70.

DIIs bought shares worth a net of Rs 1,480.82 crore, while foreign portfolio investors (FPIs) sold equities to the tune of Rs 968.18 crore on Friday, provisional data showed.

The broad-based NSE Nifty too went past the 10,800-mark as investors shifted focus on corporate earnings from trade tensions.

Market benchmark Sensex surged by around 277 points to close at more than five-month high of 35,934.72 today on heavy buying in energy, capital goods, power and banking stocks following positive leads from global markets and a strengthening rupee. The broad-based NSE Nifty too went past the 10,800-mark as investors shifted focus on corporate earnings from trade tensions. The BSE Sensex rallied for the second day by rising 276.86 points or 0.78 per cent to settle at 35,934.72, the highest closing level since January 31, when it had closed at 35,965.02. The NSE Nifty ended 80.25 points or 0.74 per cent higher at 10,852.90. Asian markets mostly closed higher and European stock markets advanced in opening trade, tracking gains on Wall Street on Friday after a strong jobs data for June allayed fears of impact of the US-China trade dispute. Appreciating rupee against the dollar and fresh buying by domestic institutional investors added to the momentum, brokers said. Investors were also looking forward to the quarterly results of IT majors TCS and Infosys that will kick-start the earnings season later this week, they added. Infosys was up 1.14 per cent at Rs 1,299.15, while TCS was trading lower by 1.34 per cent at Rs 1,887.65. Other IT counters like HCL Technology, Tech Mahindra and Wipro gained up to 1.68 per cent. The 30-share BSE Sensex opened on a strong footing at 35,835.10 and maintained its upward trend to hit the day's high of 35,977.37. It finally ended at 35,934.72, up 276.86 points, or 0.78 per cent. The gauge had gained 83.31 points in the previous session on Friday. The Nifty finished the day at 10,852.90, showing a gain of 80.25 points or 0.74 per cent after shuttling between 10,860.35 and 10,807.15. This is the highest closing since June 13, 2018 when it had closed at 10,856.70. DIIs bought shares worth a net of Rs 1,480.82 crore, while foreign portfolio investors (FPIs) sold equities to the tune of Rs 968.18 crore on Friday, provisional data showed.

Sensex soars to 5-month high; Nifty tops 10,800-level on global cues

The proliferation of public wi-fi can provide $3 billion potential revenue opportunity for telecom operators between 2017-2019, as it will help to add new customers and increasing data consumption by existing users, says a report.

The study by Analysys Mason, commissioned by tech giant Google, found “a significant fraction of users” saying they would be interested in purchasing a new mobile broadband SIM card to continue accessing high-speed Internet, after having experienced the high-speed Internet through high-speed wi-fi services from Google-Railtel.

Google, in partnership with RailTel, has rolled out public wi-fi services at 400 Indian railway stations. An average user consumed over 300 MB in a 30 minute-session, as per the study. RailTel Corporation is the telecom arm of Indian Railways.

A section of users, who were already using mobile broadband data, “expressed willingness to upgrade their current data plan” after experiencing multiple use cases offered by the high-speed Internet, the study said. “Demand stimulation with free high-speed public Wi-Fi has the potential to increase revenue for other operators by about USD 3 billion cumulatively from 2017 to 2019,” it said, adding that access to unfettered high-speed wi-fi broadband is expected to result in “tangible business benefits” for stakeholders like telecom operators and handset manufacturers.

Respondents, who expressed interest in purchasing a new mobile broadband SIM, said they were willing to spend an average of about USD 2.2 (about Rs 151) additionally on data services. Similarly, respondents who were interested in upgrading their current data plan said they were willing to spend an additional USD 2.3 (Rs 158) average for usage upgrade.

Interestingly, about 14 per cent of the respondents said they were willing to upgrade their smartphones after experiencing high-speed wi-fi, with an additional monthly spend of USD 5.9 towards upgrading their handset. The report said a successful public wi-fi market in India could see over 600 million people using public wi-fi service by 2019. For this to become a reality, over three million access points must be rolled out throughout the country, including in tier III cities and villages.

Estimates suggest that India currently has about 36,000 commercial hotspots, compared to emerging markets like China (more than 6.1 million), Indonesia and Mexico (over 1.65 lakh each). The report also suggested that mobile operators should use wi-fi to offload excess data traffic from cellular networks, with some of the cost-saving potentially re-invested in more public wi-fi coverage.

Proliferation of public wi-fi can provide USD 3 billion potential revenue opportunity for telecom operators between 2017-2019, as it will help adding new customers and increasing data consumption by existing users, says a report.

The proliferation of public wi-fi can provide $3 billion potential revenue opportunity for telecom operators between 2017-2019, as it will help to add new customers and increasing data consumption by existing users, says a report. The study by Analysys Mason, commissioned by tech giant Google, found “a significant fraction of users” saying they would be interested in purchasing a new mobile broadband SIM card to continue accessing high-speed Internet, after having experienced the high-speed Internet through high-speed wi-fi services from Google-Railtel. Google, in partnership with RailTel, has rolled out public wi-fi services at 400 Indian railway stations. An average user consumed over 300 MB in a 30 minute-session, as per the study. RailTel Corporation is the telecom arm of Indian Railways. A section of users, who were already using mobile broadband data, “expressed willingness to upgrade their current data plan” after experiencing multiple use cases offered by the high-speed Internet, the study said. “Demand stimulation with free high-speed public Wi-Fi has the potential to increase revenue for other operators by about USD 3 billion cumulatively from 2017 to 2019,” it said, adding that access to unfettered high-speed wi-fi broadband is expected to result in “tangible business benefits” for stakeholders like telecom operators and handset manufacturers. Respondents, who expressed interest in purchasing a new mobile broadband SIM, said they were willing to spend an average of about USD 2.2 (about Rs 151) additionally on data services. Similarly, respondents who were interested in upgrading their current data plan said they were willing to spend an additional USD 2.3 (Rs 158) average for usage upgrade. Interestingly, about 14 per cent of the respondents said they were willing to upgrade their smartphones after experiencing high-speed wi-fi, with an additional monthly spend of USD 5.9 towards upgrading their handset. The report said a successful public wi-fi market in India could see over 600 million people using public wi-fi service by 2019. For this to become a reality, over three million access points must be rolled out throughout the country, including in tier III cities and villages. Estimates suggest that India currently has about 36,000 commercial hotspots, compared to emerging markets like China (more than 6.1 million), Indonesia and Mexico (over 1.65 lakh each). The report also suggested that mobile operators should use wi-fi to offload excess data traffic from cellular networks, with some of the cost-saving potentially re-invested in more public wi-fi coverage.

Free public Wi-Fi can offer $3 bn revenue opportunity to telecom operators by 2019, says study

China's Huawei, the world's largest maker of telecommunication network equipment, does not see itself becoming the target of US&nbspsanctions and will keep buying US&nbspchips this year, one of its three rotating chairmen told a French newspaper.

Huawei, also the world's third-largest smartphone maker, is a private company but has found itself battling perceptions of ties to the Chinese government, which it has repeatedly denied.

Several US lawmakers last month claimed its research funding to American universities posed a "significant threat" to national security, the latest difficulty Huawei has faced operating in the United States.

Another major Chinese telecommunications equipment maker, ZTE Corp, was hit last month by a $1.4 billion settlement deal after the US&nbspgovernment said the firm broke an agreement to discipline executives who conspired to evade US&nbspsanctions on Iran and North Korea.

Asked if he feared his company could also be hit by sanctions, Ken Hu, one of Huawei's rotating chairmen, told Le Journal du Dimanche:

"It would be hard to imagine. Ten years ago we put in place a system to control our exports, which has become very efficient. Our policy is to closely implement all laws and regulations introduced by Europe, the United Nations and the United States."

Asked if Huawei could do without US&nbspcomponents, Hu said the company's logistical chain was international. "We must be open and choose the best technologies, the best products. We will therefore keep buying American chips this year."

Earlier this year, US&nbsplawmakers asked Alphabet Inc's Google to reconsider working with Huawei, which they described as a security threat. And a deal with US&nbsptelecom firm AT&T Inc T.N to sell its smartphones in the United States collapsed at the 11th hour due to security concerns.

Huawei, also the world's third-largest smartphone maker, is a private company but has found itself battling perceptions of ties to the Chinese government, which it has repeatedly denied.

China's Huawei, the world's largest maker of telecommunication network equipment, does not see itself becoming the target of US&nbspsanctions and will keep buying US&nbspchips this year, one of its three rotating chairmen told a French newspaper. Huawei, also the world's third-largest smartphone maker, is a private company but has found itself battling perceptions of ties to the Chinese government, which it has repeatedly denied. Several US lawmakers last month claimed its research funding to American universities posed a "significant threat" to national security, the latest difficulty Huawei has faced operating in the United States. Another major Chinese telecommunications equipment maker, ZTE Corp, was hit last month by a $1.4 billion settlement deal after the US&nbspgovernment said the firm broke an agreement to discipline executives who conspired to evade US&nbspsanctions on Iran and North Korea. Asked if he feared his company could also be hit by sanctions, Ken Hu, one of Huawei's rotating chairmen, told Le Journal du Dimanche: "It would be hard to imagine. Ten years ago we put in place a system to control our exports, which has become very efficient. Our policy is to closely implement all laws and regulations introduced by Europe, the United Nations and the United States." Asked if Huawei could do without US&nbspcomponents, Hu said the company's logistical chain was international. "We must be open and choose the best technologies, the best products. We will therefore keep buying American chips this year." Earlier this year, US&nbsplawmakers asked Alphabet Inc's Google to reconsider working with Huawei, which they described as a security threat. And a deal with US&nbsptelecom firm AT&T Inc T.N to sell its smartphones in the United States collapsed at the 11th hour due to security concerns.

Huawei says does not expect US sanctions: press

Pakistan's next government, to be chosen in a July 25 election, faces growing fears of a balance of payments crisis with speculation it will have to seek its second IMF bailout in five years, analysts say.

The central bank is running down its foreign reserves and devaluing the currency in a bid to bridge a yawning trade deficit, and the winners of the July 25 election will have "limited time" to act, Fitch ratings agency said on July 2.

Together, the economic challenges are "horrendous", said Dr Ashfaq Hassan, an analyst and former financial advisor to Pakistan government.

"The most important (challenge) will be how to protect Pakistan's balance of payments, how to build Pakistan's foreign exchange reserves and how to fix its fiscal position," he told AFP.

Plagued for years by Islamist militancy, Pakistan -- a rapidly growing country of some 207 million people -- has been battling to get its shaky economy back on track and end a years-long chronic energy crisis that has crippled industry.

Confidence had grown slightly in recent years, with security improving and the IMF claiming in October last year that the country had emerged from crisis after completing its post-2013 bailout programme.

The previous government of former prime minister Nawaz Sharif attempted to ease the power shortages, enact structural reforms and improve the creaky infrastructure which previously hampered growth.

China has also made progress on an ambitious multi-billion dollar infrastructure project -- the China-Pakistan Economic Corridor (CPEC) -- linking its western province of Xinjiang to the Arabian Sea via Pakistan.

But growth has not been as fast as many hoped.&nbspThe economy grew by 5.8 per cent during 2017-18, its fastest since 2005 but still missing a government target by 0.2 percent.

Public debt now sits at roughly 70 per cent of GDP.&nbsp

And the deficit is widening. Pakistan, which has historically relied on imports, has increased its procurement of materials to help build CPEC projects while also suffering from higher oil prices.

Its meagre exports such as textiles, meanwhile, have been hit as cheaper Chinese-produced goods flood the markets. Foreign remittances have not been enough to plug the gap.

Amid stability fears the caretaker government pledged in June to stem the current account deficit with rapidly dwindling foreign reserves.

According the State Bank of Pakistan, the country's reserves plunged to $9.6 billion on June 22 from $16 billion on April 17.

"We have to finance this gap of the trade deficit of $25 billion by depleting our reserves. There is no other option," caretaker Finance Minister Shamshad Akhtar, installed last month, told a press conference.&nbsp

"This is a major worry which our government is facing."&nbsp

The announcement came hours after the central bank devalued the rupee by 3.7 per cent, the third devaluation since December and representing a cumulative 13 per cent against the US dollar, according to Fitch.

The agency said the move has eased some pressure on reserves -- but "their magnitude so far has not been sufficient to prevent external finances deteriorating more sharply than we expected".

Economic analyst Dr Salman Shah told AFP that Islamabad would have to seek help from friendly countries or negotiate a fresh bail-out package from the IMF.

"It would be very tough for the next government to deal with all those challenges... it would have to undertake wide-ranging and deep-rooted reforms in all sectors linked to the economy," he said.

But Shah, also a former economic advisor to government, said that though the task was huge projects such as CPEC meant there was hope long-term.

Still, there is an undercurrent of growing unease. The terms of the massive CPEC deals are shrouded in secrecy, raising concerns about Pakistan's ability to repay Beijing's investment.

Finance ministry officials were unable to immediately confirm multiple reports that Pakistan is seeking Chinese loans to pay off the debts it incurs as it imports CPEC materials.

The Washington-based IMF has bailed out Pakistan before, with an $11.3 billion loan package in 2008 to stave off a balance of payments crisis in a deal Islamabad abandoned in 2011.

The country received a second $6.7 billion bailout package in 2013. In 2016 the IMF said Pakistan had emerged from crisis, though a review one year later noted that it was facing "important near-term challenges".

Fitch predicted the fiscal deficit could rise to around 6 per cent of GDP this year, warning: "the government is becoming increasingly reliant on external borrowing - particularly from Chinese policy banks."

The borrowing will help, the agency said -- but with rising debt-servicing payments to start in 2019 there is little room for the next government to maneouvre.&nbsp

Plagued for years by Islamist militancy, Pakistan -- a rapidly growing country of some 207 million people -- has been battling to get its shaky economy back on track and end a years-long chronic energy crisis that has crippled industry.

Pakistan's next government, to be chosen in a July 25 election, faces growing fears of a balance of payments crisis with speculation it will have to seek its second IMF bailout in five years, analysts say. The central bank is running down its foreign reserves and devaluing the currency in a bid to bridge a yawning trade deficit, and the winners of the July 25 election will have "limited time" to act, Fitch ratings agency said on July 2. Together, the economic challenges are "horrendous", said Dr Ashfaq Hassan, an analyst and former financial advisor to Pakistan government. "The most important (challenge) will be how to protect Pakistan's balance of payments, how to build Pakistan's foreign exchange reserves and how to fix its fiscal position," he told AFP. Plagued for years by Islamist militancy, Pakistan -- a rapidly growing country of some 207 million people -- has been battling to get its shaky economy back on track and end a years-long chronic energy crisis that has crippled industry. Confidence had grown slightly in recent years, with security improving and the IMF claiming in October last year that the country had emerged from crisis after completing its post-2013 bailout programme. The previous government of former prime minister Nawaz Sharif attempted to ease the power shortages, enact structural reforms and improve the creaky infrastructure which previously hampered growth. China has also made progress on an ambitious multi-billion dollar infrastructure project -- the China-Pakistan Economic Corridor (CPEC) -- linking its western province of Xinjiang to the Arabian Sea via Pakistan. But growth has not been as fast as many hoped.&nbspThe economy grew by 5.8 per cent during 2017-18, its fastest since 2005 but still missing a government target by 0.2 percent. Public debt now sits at roughly 70 per cent of GDP. And the deficit is widening. Pakistan, which has historically relied on imports, has increased its procurement of materials to help build CPEC projects while also suffering from higher oil prices. Its meagre exports such as textiles, meanwhile, have been hit as cheaper Chinese-produced goods flood the markets. Foreign remittances have not been enough to plug the gap. Amid stability fears the caretaker government pledged in June to stem the current account deficit with rapidly dwindling foreign reserves. According the State Bank of Pakistan, the country's reserves plunged to $9.6 billion on June 22 from $16 billion on April 17. "We have to finance this gap of the trade deficit of $25 billion by depleting our reserves. There is no other option," caretaker Finance Minister Shamshad Akhtar, installed last month, told a press conference. "This is a major worry which our government is facing." The announcement came hours after the central bank devalued the rupee by 3.7 per cent, the third devaluation since December and representing a cumulative 13 per cent against the US dollar, according to Fitch. The agency said the move has eased some pressure on reserves -- but "their magnitude so far has not been sufficient to prevent external finances deteriorating more sharply than we expected". Economic analyst Dr Salman Shah told AFP that Islamabad would have to seek help from friendly countries or negotiate a fresh bail-out package from the IMF. "It would be very tough for the next government to deal with all those challenges... it would have to undertake wide-ranging and deep-rooted reforms in all sectors linked to the economy," he said. But Shah, also a former economic advisor to government, said that though the task was huge projects such as CPEC meant there was hope long-term. Still, there is an undercurrent of growing unease. The terms of the massive CPEC deals are shrouded in secrecy, raising concerns about Pakistan's ability to repay Beijing's investment. Finance ministry officials were unable to immediately confirm multiple reports that Pakistan is seeking Chinese loans to pay off the debts it incurs as it imports CPEC materials. The Washington-based IMF has bailed out Pakistan before, with an $11.3 billion loan package in 2008 to stave off a balance of payments crisis in a deal Islamabad abandoned in 2011. The country received a second $6.7 billion bailout package in 2013. In 2016 the IMF said Pakistan had emerged from crisis, though a review one year later noted that it was facing "important near-term challenges". Fitch predicted the fiscal deficit could rise to around 6 per cent of GDP this year, warning: "the government is becoming increasingly reliant on external borrowing - particularly from Chinese policy banks." The borrowing will help, the agency said -- but with rising debt-servicing payments to start in 2019 there is little room for the next government to maneouvre.

IMF bailout on the cards for Pakistan's next government: Analysts

Force India's shareholders would consider serious offers for the British-based Formula One team but there are none at present, according to co-owner and principal Vijay Mallya.

The Indian businessman, who has a 42.5 per cent stake, said there was a possibility of main sponsor BWT getting more involved and changing the team's name.

"If somebody comes along and wants to pay an attractive price for anything, you have to put your commercial hat on and think about it commercially, not emotionally," Mallya told&nbsp;at the British Grand Prix.

"And that’s precisely where I am.

"I cannot comment on the status of offers or discussions. But there is no agreed offer on the table backed by cash."

Mallya is fighting in court against extradition to India on fraud charges, with Indian banks seeking to recover loans granted to his defunct Kingfisher Airlines.

His difficulties and those of co-owners Sahara Group have triggered speculation about the team's future. But Mallya insisted they had no bearing on the day-to-day running of the team.

India's Sahara conglomerate has been ordered to repay billions of dollars to investors in bonds that were ruled to have been mis-sold.

"Sahara’s problems and my problems are not new problems. They have been going on for more than three years. And within that period we have finished twice in fourth position in the world constructors’ championship," said Mallya.

"This team is independent, it’s professionally managed. And it performs. So whatever difficulties the shareholders may or may not have, it doesn’t impact the team."

Mallya said he had lost count of how many offers he had received for the team over the last 10 years and expected that to continue with changes in the distribution of prize money expected from 2021.

"When Liberty (Media) took over (the sport last year) and everybody thought things would change, there was serious interest from even private equity," he said.

"If you go by what Liberty is saying...from 2021 the income distribution may be vastly different. And therefore the team may be entitled to a lot more of the share of the prize fund, which goes to the bottom line and makes the team that much more valuable."

Asked about a possible name change, mooted last year, Mallya said Austrian water technology company BWT had produced "a big wish list".

"If BWT wants the name of the team to be changed to BWT Racing, like Red Bull Racing, they need to make a very long-term commitment," he said.

"If they want the chassis name changed, then I need F1 commission approval. But it has to be long-term. If BWT decides to walk out of Formula One, I can’t be stuck with the BWT chassis name.

"They are considering it, but that’s up to them," said the Indian. "They know that a chassis name change is a much bigger event than just sponsorship."

Mallya said fourth place in the championship remained achievable for Force India.

"If somebody comes along and wants to pay an attractive price for anything, you have to put your commercial hat on and think about it commercially, not emotionally," Mallya told at the British Grand Prix.

Force India's shareholders would consider serious offers for the British-based Formula One team but there are none at present, according to co-owner and principal Vijay Mallya. The Indian businessman, who has a 42.5 per cent stake, said there was a possibility of main sponsor BWT getting more involved and changing the team's name. "If somebody comes along and wants to pay an attractive price for anything, you have to put your commercial hat on and think about it commercially, not emotionally," Mallya told at the British Grand Prix. "And that’s precisely where I am. "I cannot comment on the status of offers or discussions. But there is no agreed offer on the table backed by cash." Mallya is fighting in court against extradition to India on fraud charges, with Indian banks seeking to recover loans granted to his defunct Kingfisher Airlines. His difficulties and those of co-owners Sahara Group have triggered speculation about the team's future. But Mallya insisted they had no bearing on the day-to-day running of the team. India's Sahara conglomerate has been ordered to repay billions of dollars to investors in bonds that were ruled to have been mis-sold. "Sahara’s problems and my problems are not new problems. They have been going on for more than three years. And within that period we have finished twice in fourth position in the world constructors’ championship," said Mallya. "This team is independent, it’s professionally managed. And it performs. So whatever difficulties the shareholders may or may not have, it doesn’t impact the team." Mallya said he had lost count of how many offers he had received for the team over the last 10 years and expected that to continue with changes in the distribution of prize money expected from 2021. "When Liberty (Media) took over (the sport last year) and everybody thought things would change, there was serious interest from even private equity," he said. "If you go by what Liberty is saying...from 2021 the income distribution may be vastly different. And therefore the team may be entitled to a lot more of the share of the prize fund, which goes to the bottom line and makes the team that much more valuable." Asked about a possible name change, mooted last year, Mallya said Austrian water technology company BWT had produced "a big wish list". "If BWT wants the name of the team to be changed to BWT Racing, like Red Bull Racing, they need to make a very long-term commitment," he said. "If they want the chassis name changed, then I need F1 commission approval. But it has to be long-term. If BWT decides to walk out of Formula One, I can’t be stuck with the BWT chassis name. "They are considering it, but that’s up to them," said the Indian. "They know that a chassis name change is a much bigger event than just sponsorship." Mallya said fourth place in the championship remained achievable for Force India.

Force India open to offers, says Vijay Mallya

Reliance Industries Limited (RIL) Chairman and Managing Director, Mukesh Dhirubhai Ambani, has been re-appointed to the office for another five years. Mukesh Ambani's next tenure will commence from April 19, 2019.

The move came at RIL's 41st annual general meeting (AGM) held recently.

According to reports, more than 98.50 per cent of shareholders voted in favour of the resolution to re-appoint Ambani.

Mukesh Ambani, who is also the richest Indian, kept his annual compensation unchanged. Ambani earns close to Rs 15 crore in a year, a sum that has reportedly been kept unchanged by him for almost a decade and includes his salary, allowances, perquisites, retiral benefits, and commission payable.

The move came at RIL's 41st annual general meeting (AGM) held recently

Reliance Industries Limited (RIL) Chairman and Managing Director, Mukesh Dhirubhai Ambani, has been re-appointed to the office for another five years. Mukesh Ambani's next tenure will commence from April 19, 2019. The move came at RIL's 41st annual general meeting (AGM) held recently. According to reports, more than 98.50 per cent of shareholders voted in favour of the resolution to re-appoint Ambani. Mukesh Ambani, who is also the richest Indian, kept his annual compensation unchanged. Ambani earns close to Rs 15 crore in a year, a sum that has reportedly been kept unchanged by him for almost a decade and includes his salary, allowances, perquisites, retiral benefits, and commission payable.

RIL chairman Mukesh Ambani gets reappointed for five more years 

Facebook CEO Mark Zuckerberg emerged as the world's third-richest person after beating Warren Buffett.

Zuckerberg now falls behind Amazon.com's founder Jeff Bezos and Microsoft's co-founder Bill Gates.&nbsp;

The social media company rose to the ranking after its shares climbed to 2.4 per cent, a report stated.

The 34-year-old CEO is now worth $81.6 billion, about $373 million more than Buffett.

Facebook's shares went down to an eight-month low of $152.22 on March 27 after it was hit by a data-privacy crisis.

For the first time, the three wealthiest people in the world have made their fortunes from technology.

According to a media report, the decline in the ranking of Buffett who was once the world’s wealthiest person can be traced to his charitable giving.

He has donated about 290 million Berkshire Hathaway Class B shares to charities, most of it to Gates’s foundation. The shares now account for over $50 billion.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/PkteWgSFngM" width="560"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

Zuckerberg now falls behind Amazon.com's founder Jeff Bezos and Microsoft's co-founder Bill Gates

Facebook CEO Mark Zuckerberg emerged as the world's third-richest person after beating Warren Buffett. Zuckerberg now falls behind Amazon.com's founder Jeff Bezos and Microsoft's co-founder Bill Gates. The social media company rose to the ranking after its shares climbed to 2.4 per cent, a report stated. The 34-year-old CEO is now worth $81.6 billion, about $373 million more than Buffett. Facebook's shares went down to an eight-month low of $152.22 on March 27 after it was hit by a data-privacy crisis. For the first time, the three wealthiest people in the world have made their fortunes from technology. According to a media report, the decline in the ranking of Buffett who was once the world’s wealthiest person can be traced to his charitable giving. He has donated about 290 million Berkshire Hathaway Class B shares to charities, most of it to Gates’s foundation. The shares now account for over $50 billion. ×

Mark Zuckerberg beats Warren Buffett to become third-richest in world

Russian President Vladimir Putin on Thursday said the Russian economy was showing "positive trends" but called on improving the "quality of people's lives" during a meeting with government ministers.

"The macroeconomic situation in our country over the last five months is on the whole stable. Positive trends are seen in key ares," Putin said in televised comments.

But the Russian leader stressed that these "should not calm us".&nbsp

"We always have to tell ourselves in these instances that not all people feel this, we need to be aware of this," he said.

He called for "setting a long-term trend to increase the sustainability and growth of quality in people's lives".&nbsp

Putin named "increasing the wages of citizens" and "improving the effectivity of social support" as key issues.

Wages in Russia have fallen for four consecutive years as the Russian economy reeled from a crash in oil prices in 2014, along with international sanctions imposed over Moscow's actions in Ukraine.

Putin's approval ratings slumped by a record 14 percentage points according to a state pollster following a government proposal to raise the state pension age to 65 for men and 63 for women, the first such hike in almost nine decades.

After his March re-election, Putin issued a decree setting targets for his next six years in power. These included halving Russia's poverty rate, increasing pensions and boosting the average life expectancy to 78 by 2024. &nbsp

While Russia returned to growth in 2017 after two years of recession, the country's economy pales in comparison with growth figures due to soaring oil prices seen during Putin's first two terms in office from 2000 to 2008.&nbsp

Vladimir Putin has led Russia since 1999.

He called for "setting a long-term trend to increase the sustainability and growth of quality in people's lives"

Russian President Vladimir Putin on Thursday said the Russian economy was showing "positive trends" but called on improving the "quality of people's lives" during a meeting with government ministers. "The macroeconomic situation in our country over the last five months is on the whole stable. Positive trends are seen in key ares," Putin said in televised comments. But the Russian leader stressed that these "should not calm us". "We always have to tell ourselves in these instances that not all people feel this, we need to be aware of this," he said. He called for "setting a long-term trend to increase the sustainability and growth of quality in people's lives". Putin named "increasing the wages of citizens" and "improving the effectivity of social support" as key issues. Wages in Russia have fallen for four consecutive years as the Russian economy reeled from a crash in oil prices in 2014, along with international sanctions imposed over Moscow's actions in Ukraine. Putin's approval ratings slumped by a record 14 percentage points according to a state pollster following a government proposal to raise the state pension age to 65 for men and 63 for women, the first such hike in almost nine decades. After his March re-election, Putin issued a decree setting targets for his next six years in power. These included halving Russia's poverty rate, increasing pensions and boosting the average life expectancy to 78 by 2024. While Russia returned to growth in 2017 after two years of recession, the country's economy pales in comparison with growth figures due to soaring oil prices seen during Putin's first two terms in office from 2000 to 2008. Vladimir Putin has led Russia since 1999.

Putin sees 'positive trends' in Russian economy

Stocks rose on both sides of the Atlantic Thursday as investors entertained a glimmer of hope that negotiations may yet soften the blow of an unfolding trade war between Washington and the European Union, dealers said.

Still, the gains came despite no sign of detente between Beijing and Washington, as tit-for-tat tariffs as set to take effect at midnight.

European car stocks surged after the US ambassador in Berlin, Richard Grenell, told bosses of Germany's biggest car firms that Washington was calling on the EU to bring tariffs to zero on car imports -- in exchange for equal treatment by the US.

The US is studying the possibility of imposing tariffs on autos on national security grounds.

European auto sector concerns were "easing a bit to boost the markets in Europe," Charles Schwab analysts said after German Chancellor Angela Merkel indicated she would back talks with trading partners on lowering automobile tariffs.

In Milan, Fiat Chrysler stock gained more than five per cent and in Paris, Peugeot and Renault were three per cent or higher.

German auto shares also rose across the board, with BMW up more than one per cent, while Daimler and Volkswagen added more than two per cent on the day.

On Wall Street, as traders returned to their desks after Wednesday's national holiday, markets reacted to solid US employment data, which offset worries about trade tensions.

US auto giants General Motors and Ford both gained, along with large technology names including Facebook and Google-parent Alphabet.

No choice but to fight

But analysts were quick to point out that the bigger trade war -- between the US and China -- is still happening as Washington is set to begin enforcing tariffs on nearly $34 billion in Chinese imports Friday.

Beijing has vowed to respond with its own tariffs immediately, arguing it has "no choice but to fight" and accusing Washington of "opening fire on the whole world" with the trade restrictions.

Greg McKenna, chief market strategist at AxiTrader, said "there has been a subtle but distinct shift in the number of voices who are now saying this could all end up in a big global mess with a huge hit to global growth".

But Thursday's gains suggest "perhaps that the tariff action has been priced in already and those market participants still don't think a full-fledged trade war will break out on the other side of it," said Briefing.com

Still, the website noted subsequently that "that perception could shift on the next headline."

Elsewhere, oil prices traded lower after US data showed a surprise increase in oil stockpiles and Saudi Arabia cut prices for crude sent to Asia.

The retreat also came after Trump called on OPEC to reduce prices.

The US is studying the possibility of imposing tariffs on autos on national security grounds

Stocks rose on both sides of the Atlantic Thursday as investors entertained a glimmer of hope that negotiations may yet soften the blow of an unfolding trade war between Washington and the European Union, dealers said. Still, the gains came despite no sign of detente between Beijing and Washington, as tit-for-tat tariffs as set to take effect at midnight. European car stocks surged after the US ambassador in Berlin, Richard Grenell, told bosses of Germany's biggest car firms that Washington was calling on the EU to bring tariffs to zero on car imports -- in exchange for equal treatment by the US. The US is studying the possibility of imposing tariffs on autos on national security grounds. European auto sector concerns were "easing a bit to boost the markets in Europe," Charles Schwab analysts said after German Chancellor Angela Merkel indicated she would back talks with trading partners on lowering automobile tariffs. In Milan, Fiat Chrysler stock gained more than five per cent and in Paris, Peugeot and Renault were three per cent or higher. German auto shares also rose across the board, with BMW up more than one per cent, while Daimler and Volkswagen added more than two per cent on the day. On Wall Street, as traders returned to their desks after Wednesday's national holiday, markets reacted to solid US employment data, which offset worries about trade tensions. US auto giants General Motors and Ford both gained, along with large technology names including Facebook and Google-parent Alphabet. No choice but to fight But analysts were quick to point out that the bigger trade war -- between the US and China -- is still happening as Washington is set to begin enforcing tariffs on nearly $34 billion in Chinese imports Friday. Beijing has vowed to respond with its own tariffs immediately, arguing it has "no choice but to fight" and accusing Washington of "opening fire on the whole world" with the trade restrictions. Greg McKenna, chief market strategist at AxiTrader, said "there has been a subtle but distinct shift in the number of voices who are now saying this could all end up in a big global mess with a huge hit to global growth". But Thursday's gains suggest "perhaps that the tariff action has been priced in already and those market participants still don't think a full-fledged trade war will break out on the other side of it," said Briefing.com Still, the website noted subsequently that "that perception could shift on the next headline." Elsewhere, oil prices traded lower after US data showed a surprise increase in oil stockpiles and Saudi Arabia cut prices for crude sent to Asia. The retreat also came after Trump called on OPEC to reduce prices.

Stocks rise on hopes US-EU may avoid trade war escalation

South Korean telecom giant Samsung Electronics on Friday flagged a 5.2 per cent rise in second-quarter operating profit from a year earlier, missing analyst estimates.

Operating profit is expected to come to 14.8 trillion won ($13.2 billion) for the April-June period, higher than the 14.07 trillion won in the same period in 2017, but down from the record 15.64 trillion won of the previous quarter.

The forecast came at the low end of market consensus, which averaged at 15.3 trillion won.

"It's a bit disappointing," Ko Gyeong-beom at Yuanta Securities Korea told AFP, noting the company had posted expectation-beating operating profits for several quarters.

Sales are estimated at 58 trillion won, down 4.9 per cent from 61 trillion won a year earlier.

Industry sources said sales of smartphones were weak amid mounting competition from rivals as marketing costs for new mobile products also increased, undercutting the sector's profitability.

Weak LCD display prices are also blamed for the disappointing results, they said.&nbsp

The forecast came at the low end of market consensus, which averaged at 15.3 trillion won

South Korean telecom giant Samsung Electronics on Friday flagged a 5.2 per cent rise in second-quarter operating profit from a year earlier, missing analyst estimates. Operating profit is expected to come to 14.8 trillion won ($13.2 billion) for the April-June period, higher than the 14.07 trillion won in the same period in 2017, but down from the record 15.64 trillion won of the previous quarter. The forecast came at the low end of market consensus, which averaged at 15.3 trillion won. "It's a bit disappointing," Ko Gyeong-beom at Yuanta Securities Korea told AFP, noting the company had posted expectation-beating operating profits for several quarters. Sales are estimated at 58 trillion won, down 4.9 per cent from 61 trillion won a year earlier. Industry sources said sales of smartphones were weak amid mounting competition from rivals as marketing costs for new mobile products also increased, undercutting the sector's profitability. Weak LCD display prices are also blamed for the disappointing results, they said.

Samsung Electronics flags 5.2% rise in Q2 profit

The BSE Sensex turned positive after opening 42 points lower in the early trade today as fresh buying seen on select counters led by oils & gas, realty, auto and IT sectors amid mixed global cues.

The 30-share index recovered by 116.29 points, or 0.32 per cent, to 35,690.84 in early session.

The gauge had lost 70.85 points in a range-bound trade yesterday.

The NSE index Nifty also rose 33.65 points or 0.31 per cent to 10,783.40.

According to traders, fresh buying by participants and mixed trend in overseas gave investors the confidence.

Among the major gainers are Tata Motors, Bajaj Auto, RIL, Yes Bank, Hero Motocorp, TCS, Infosys, Axis Bank, ONGC, Kotak Bank, Adani Ports, SBI, Maruti Suzuki, L&T and Bharti Airtel, rising up to 2.87 per cent.

Barring FMCG, all the sectoral indices were trading in green.

Overseas, Asian stocks were mixed, with investors bracing for developments on the trade front as markets awaited tariffs from the US and China to take effect later today.

The US is set to impose a 25 per cent tariff on USD 34 billion worth of Chinese goods from more than 800 product categories. China has also announced that it will retaliate with duties of the same value on US products.

Yesterday, the US stocks closed higher overnight following rally in technology sector.

Meanwhile, the minutes of the US Federal Reserve June policy meeting came out on the lines of market expectations.

In Asian regions, Japan's Nikkei was trading higher by 0.67 per cent, while Hong Kong's Hang Seng was down 0.30 per cent and Shanghai Composite slipped 0.68 per cent in early trade today.&nbsp

The US Dow Jones Industrial Average, ended 0.75 per cent higher yesterday.&nbsp

The BSE Sensex turned positive after opening 42 points lower in the early trade today as fresh buying seen on select counters led by oils & gas, realty, auto and IT sectors amid mixed global cues

The BSE Sensex turned positive after opening 42 points lower in the early trade today as fresh buying seen on select counters led by oils & gas, realty, auto and IT sectors amid mixed global cues. The 30-share index recovered by 116.29 points, or 0.32 per cent, to 35,690.84 in early session. The gauge had lost 70.85 points in a range-bound trade yesterday. The NSE index Nifty also rose 33.65 points or 0.31 per cent to 10,783.40. According to traders, fresh buying by participants and mixed trend in overseas gave investors the confidence. Among the major gainers are Tata Motors, Bajaj Auto, RIL, Yes Bank, Hero Motocorp, TCS, Infosys, Axis Bank, ONGC, Kotak Bank, Adani Ports, SBI, Maruti Suzuki, L&T and Bharti Airtel, rising up to 2.87 per cent. Barring FMCG, all the sectoral indices were trading in green. Overseas, Asian stocks were mixed, with investors bracing for developments on the trade front as markets awaited tariffs from the US and China to take effect later today. The US is set to impose a 25 per cent tariff on USD 34 billion worth of Chinese goods from more than 800 product categories. China has also announced that it will retaliate with duties of the same value on US products. Yesterday, the US stocks closed higher overnight following rally in technology sector. Meanwhile, the minutes of the US Federal Reserve June policy meeting came out on the lines of market expectations. In Asian regions, Japan's Nikkei was trading higher by 0.67 per cent, while Hong Kong's Hang Seng was down 0.30 per cent and Shanghai Composite slipped 0.68 per cent in early trade today. The US Dow Jones Industrial Average, ended 0.75 per cent higher yesterday.

Sensex recovers 116 points on mixed global cues