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The 30-share BSE index Sensex jumped 83.44 points or 0.24 per cent at 35,527.11 and the 50-share NSE index rose 14.2 points or 0.13 per cent to 10,781.85.

Macro-economic data such as the index of industrial production and wholesale price index will be in focus for the domestic investors, along with the progress of the monsoon.

Globally, the US and North Korea summit, the Fed meeting, ECB rate decision and the BoJ rate decision could keep global investors on the edge in the coming week. Both the Nifty and the Sensex could also turn volatile, in tandem with their global peers.&nbsp

The 30-share BSE index Sensex jumped 83.44 points or 0.24 per cent at 35,527.11 and the 50-share NSE index rose 14.2 points or 0.13 per cent to 10,781.85.

The 30-share BSE index Sensex jumped 83.44 points or 0.24 per cent at 35,527.11 and the 50-share NSE index rose 14.2 points or 0.13 per cent to 10,781.85. Macro-economic data such as the index of industrial production and wholesale price index will be in focus for the domestic investors, along with the progress of the monsoon. Globally, the US and North Korea summit, the Fed meeting, ECB rate decision and the BoJ rate decision could keep global investors on the edge in the coming week. Both the Nifty and the Sensex could also turn volatile, in tandem with their global peers.

Sensex opens higher by 83 points; Nifty climbs to 10,782

Fuel prices were cut for the 13th day straight since the prices soared on May 29, applicable from 6:00 am on June 11.

Petrol prices in Delhi and Mumbai were slashed by 20 paise since yesterday and Diesel prices were brought down 15 paise in the capital and 16 paise in Mumbai, according to the Indian Oil website.

Petrol price in Delhi today stands at Rs 76.58 per litre. Similarly, petrol price in Mumbai is Rs 84.41 per litre. Yesterday it was Rs 84.61 per litre in the finance capital of the country. In Chennai and Kolkata, petrol prices are Rs 79.25 per litre and Rs 79.69 per litre.

Petrol price in Delhi today stands at Rs 76.58 per litre, down from Rs 76.78 per litre on June 10. Similarly, petrol price in Mumbai is Rs 84.41 per litre.

Fuel prices were cut for the 13th day straight since the prices soared on May 29, applicable from 6:00 am on June 11. Petrol prices in Delhi and Mumbai were slashed by 20 paise since yesterday and Diesel prices were brought down 15 paise in the capital and 16 paise in Mumbai, according to the Indian Oil website. Petrol price in Delhi today stands at Rs 76.58 per litre. Similarly, petrol price in Mumbai is Rs 84.41 per litre. Yesterday it was Rs 84.61 per litre in the finance capital of the country. In Chennai and Kolkata, petrol prices are Rs 79.25 per litre and Rs 79.69 per litre.

Fuel rates cut for 13th straight day: Petrol prices cut by 20 paise per liter, diesel by 15 paise

The Central Board of Indirect Taxes and Customs (CBIC) has cleared over Rs 7000 crore worth Goods and Services Tax (GST) refunds of exporters during the initial phase of the special refund drive undertaken by the authorities.

The tax department has also asked the exporters and traders to visit their jurisdictional GST office or Custom House/Port and settle their pending claims during the Special Refund Fortnight from May 31, 2018, to June 14, 2018.

On the other hand, Chief Commissioner of Delhi Customs Sunil K Sawhney has informed that they will try to scroll down around 26,000 shipping bills, which are still pending due to lack of relevant documents, during this special drive.

"To facilitate the exporters for an expeditious disbursal of the refund of Integrated Goods and Services Tax (IGST) paid on the goods exported by them up to 30th April, we are holding a special fortnight from 31 may to June 14, 2018, to remove the errors made by the exporters in their shipping bills," Sawhney said.

As of now, the Delhi customs zone has successfully scrolled out IGST refunds amounting to Rs 290 crore over 12,000 shipping bills in the last eight days.

During this process, the customs department has been able to correct 8,000 shipping bills of the exporters involving about Rs 143 crore of IGST and Rs 194.75 crore of Rebate of State Levies (RoSL), till June 8.

Incomplete information and mismatch errors have caused much trouble in processing the refund amount for exporters.

Several measures have been taken by the government to ease the backlog of refunds and help exporters and traders.

Incomplete information and mismatch errors have caused much trouble in processing the refund amount for exporters.

The Central Board of Indirect Taxes and Customs (CBIC) has cleared over Rs 7000 crore worth Goods and Services Tax (GST) refunds of exporters during the initial phase of the special refund drive undertaken by the authorities. The tax department has also asked the exporters and traders to visit their jurisdictional GST office or Custom House/Port and settle their pending claims during the Special Refund Fortnight from May 31, 2018, to June 14, 2018. On the other hand, Chief Commissioner of Delhi Customs Sunil K Sawhney has informed that they will try to scroll down around 26,000 shipping bills, which are still pending due to lack of relevant documents, during this special drive. "To facilitate the exporters for an expeditious disbursal of the refund of Integrated Goods and Services Tax (IGST) paid on the goods exported by them up to 30th April, we are holding a special fortnight from 31 may to June 14, 2018, to remove the errors made by the exporters in their shipping bills," Sawhney said. As of now, the Delhi customs zone has successfully scrolled out IGST refunds amounting to Rs 290 crore over 12,000 shipping bills in the last eight days. During this process, the customs department has been able to correct 8,000 shipping bills of the exporters involving about Rs 143 crore of IGST and Rs 194.75 crore of Rebate of State Levies (RoSL), till June 8. Incomplete information and mismatch errors have caused much trouble in processing the refund amount for exporters. Several measures have been taken by the government to ease the backlog of refunds and help exporters and traders.

Over Rs 7000 cr GST refunds of exporters cleared

HSBC will invest $15-17 billion in the next three years in areas including technology and its core Asian markets of Hong Kong and China as it swings from a strategy of cost-cutting to growth, new Chief Executive John Flint said on Monday.

The announcement is Flint's first public indication to shareholders of the strategy he intends to pursue at HSBC, which has struggled to meet its profit goals in recent years after a shrinking of its global empire also cut income.

The update marks a definitive pivot in HSBC's post-2008 crisis strategy, from cost-cutting and restructuring to investment and expansion as it seeks to improve returns.

The bank is targeting a return on tangible equity of 11 per cent by 2020, Flint said and will sustain its dividends at current levels.

"After a period of restructuring, it is now time for HSBC to get back into growth mode," Flint said.

The main points of the bank's refreshed strategy will likely come as little surprise for HSBC investors, with the focus squarely on further expansion in China and its prosperous southern Pearl River Delta region in particular.

The bank will also pursue further expansion in the British mortgage market as one of eight new strategic targets, HSBC said.

HSBC shares showed little reaction to the announcement, remaining flat at 0852 GMT compared with as 1 per cent rise in the FTSE 350 British banks index.

The bank has found no silver bullet for its underperforming US&nbspbusiness, the strategy update released to investors on Monday showed, with HSBC set to focus on trying to grow its market share among internationally-focused mid-sized companies.

Flint in February said the bank was reviewing its US&nbspfranchise, which has suffered from lack of scale and the consequences of its disastrous $15 billion acquisition of consumer lender Household in 2003.

The update marks a definitive pivot in HSBC's post-2008 crisis strategy, from cost-cutting and restructuring to investment and expansion as it seeks to improve returns

HSBC will invest $15-17 billion in the next three years in areas including technology and its core Asian markets of Hong Kong and China as it swings from a strategy of cost-cutting to growth, new Chief Executive John Flint said on Monday. The announcement is Flint's first public indication to shareholders of the strategy he intends to pursue at HSBC, which has struggled to meet its profit goals in recent years after a shrinking of its global empire also cut income. The update marks a definitive pivot in HSBC's post-2008 crisis strategy, from cost-cutting and restructuring to investment and expansion as it seeks to improve returns. The bank is targeting a return on tangible equity of 11 per cent by 2020, Flint said and will sustain its dividends at current levels. "After a period of restructuring, it is now time for HSBC to get back into growth mode," Flint said. The main points of the bank's refreshed strategy will likely come as little surprise for HSBC investors, with the focus squarely on further expansion in China and its prosperous southern Pearl River Delta region in particular. The bank will also pursue further expansion in the British mortgage market as one of eight new strategic targets, HSBC said. HSBC shares showed little reaction to the announcement, remaining flat at 0852 GMT compared with as 1 per cent rise in the FTSE 350 British banks index. The bank has found no silver bullet for its underperforming US&nbspbusiness, the strategy update released to investors on Monday showed, with HSBC set to focus on trying to grow its market share among internationally-focused mid-sized companies. Flint in February said the bank was reviewing its US&nbspfranchise, which has suffered from lack of scale and the consequences of its disastrous $15 billion acquisition of consumer lender Household in 2003.

HSBC to invest $15-17 billion by 2020 as strategy pivots to growth

The Reserve Bank of India today fixed the reference rate of the rupee at 67.3353 against the US dollar and 79.5230 for the euro.

The corresponding rates were 67.5228 and 79.5824, as on June 08, 2018.

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 90.3707 and 61.24 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

The SDR-rupee figure will be based on this rate, the statement added.

The SDR-rupee figure will be based on this rate, the statement added

The Reserve Bank of India today fixed the reference rate of the rupee at 67.3353 against the US dollar and 79.5230 for the euro. The corresponding rates were 67.5228 and 79.5824, as on June 08, 2018. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 90.3707 and 61.24 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon. The SDR-rupee figure will be based on this rate, the statement added.

RBI sets rupee reference rate at 67.3353 against dollar

As multi-agency probe continues in India into alleged lapses involving ICICI Bank's chief Chanda Kochhar and her family members, the matter has also come under the scanner of the US markets regulator SEC.

Besides, the Indian regulators and investigative agencies are mulling seeking help from their overseas counterparts including in Mauritius as part of their own probes, officials said.

When asked about its probe into matters related to ICICI Bank and Kochhar, a spokesperson for the SEC Office of Public Affairs declined to comment. 
The queries sent to ICICI Bank also remained unanswered. The bank has already instituted an independent enquiry into allegations of 'conflict of interest' and 'quid pro quo' in Kochhar's dealing with certain borrowers. 
Earlier in March, when the reports first surfaced in this regard, the bank had said that its board has "full confidence and reposes full faith" in Kochhar.

Sources said the SEC (Securities and Exchange Commission) is actively looking into the matter as ICICI Bank is listed in the US also and it may seek further details from its Indian counterpart the Securities and Exchange Board of India (Sebi), which has already issued show-cause notices to ICICI Bank and Kochhar as part of its probe.

Officials said the Sebi has been approached for some clarificatory details which would be provided to the bank and its CEO, among others to whom notices have been served.

Those looking into the matter also include the banking regulator RBI and the corporate affairs ministry, while the CBI had earlier registered a preliminary enquiry against Kochhar's husband, among others, and extensively questioned her brother-in-law in April.

The cases under scanner include the bank's Rs 3,250 crore loan to Videocon Group in 2012 and the involvement of Kochhar family members in the restructuring of the loan.

Last week, interim finance minister Piyush Goyal said the law will take its own course in the alleged case of nepotism at ICICI Bank, even though it is a good bank with "very robust processes" and there was no cause for concern for any of the stakeholders of ICICI Bank per se.

There are allegations of impropriety in ICICI Bank extending loans to some companies and enjoying reciprocal benefits.

It has been alleged that family members of the bank's chief, including her husband Deepak Kochhar, got financial favours from the borrowers against the loans sanctioned by the bank.

It was also alleged that Videocon Group pumped money into NuPower Renewables, a firm owned by Deepak Kochhar.

Sebi has served a notice on Kochhar on dealings of the bank with Videocon Group and Nupower.

There are also allegations that NuPower got investments of Rs 325 crore from Mauritius-based Firstland Holdings, a company owned by Nishant Kanodia, son-in-law of Essar Group co-founder Ravi Ruia.

An independent probe was ordered by ICICI Bank board after fresh allegations of quid pro quo were levelled by activist and whistle-blower Arvind Gupta, who also accused Ruia brothers of Essar group of having got undue favours from the bank for "round-tripping" investments into NuPower Group.

The allegations have been dismissed as "motivated" by the Essar Group, which maintains it has no business interest in Firstland Holdings.

The Ministry of Corporate Affairs is looking into companies involved in the ICICI Bank controversy of an alleged conflict of interest in Chanda Kochhar's dealings with certain borrowers, according to a senior official.

The official also said the affairs of ICICI Bank are not being looked into by the ministry as that is completely under the purview of the Reserve Bank of India (RBI).

"The ministry is looking at allegations with respect to fraudulent, preferential or under-valued transactions... (related to) those companies which have come into controversy in the light of ICICI Bank issue," the official said.

The ICICI bank has already instituted an independent enquiry into allegations of 'conflict of interest' and 'quid pro quo' in Kochhar's dealing with certain borrowers.

As multi-agency probe continues in India into alleged lapses involving ICICI Bank's chief Chanda Kochhar and her family members, the matter has also come under the scanner of the US markets regulator SEC. Besides, the Indian regulators and investigative agencies are mulling seeking help from their overseas counterparts including in Mauritius as part of their own probes, officials said. When asked about its probe into matters related to ICICI Bank and Kochhar, a spokesperson for the SEC Office of Public Affairs declined to comment. The queries sent to ICICI Bank also remained unanswered. The bank has already instituted an independent enquiry into allegations of 'conflict of interest' and 'quid pro quo' in Kochhar's dealing with certain borrowers. Earlier in March, when the reports first surfaced in this regard, the bank had said that its board has "full confidence and reposes full faith" in Kochhar. Sources said the SEC (Securities and Exchange Commission) is actively looking into the matter as ICICI Bank is listed in the US also and it may seek further details from its Indian counterpart the Securities and Exchange Board of India (Sebi), which has already issued show-cause notices to ICICI Bank and Kochhar as part of its probe. Officials said the Sebi has been approached for some clarificatory details which would be provided to the bank and its CEO, among others to whom notices have been served. Those looking into the matter also include the banking regulator RBI and the corporate affairs ministry, while the CBI had earlier registered a preliminary enquiry against Kochhar's husband, among others, and extensively questioned her brother-in-law in April. The cases under scanner include the bank's Rs 3,250 crore loan to Videocon Group in 2012 and the involvement of Kochhar family members in the restructuring of the loan. Last week, interim finance minister Piyush Goyal said the law will take its own course in the alleged case of nepotism at ICICI Bank, even though it is a good bank with "very robust processes" and there was no cause for concern for any of the stakeholders of ICICI Bank per se. There are allegations of impropriety in ICICI Bank extending loans to some companies and enjoying reciprocal benefits. It has been alleged that family members of the bank's chief, including her husband Deepak Kochhar, got financial favours from the borrowers against the loans sanctioned by the bank. It was also alleged that Videocon Group pumped money into NuPower Renewables, a firm owned by Deepak Kochhar. Sebi has served a notice on Kochhar on dealings of the bank with Videocon Group and Nupower. There are also allegations that NuPower got investments of Rs 325 crore from Mauritius-based Firstland Holdings, a company owned by Nishant Kanodia, son-in-law of Essar Group co-founder Ravi Ruia. An independent probe was ordered by ICICI Bank board after fresh allegations of quid pro quo were levelled by activist and whistle-blower Arvind Gupta, who also accused Ruia brothers of Essar group of having got undue favours from the bank for "round-tripping" investments into NuPower Group. The allegations have been dismissed as "motivated" by the Essar Group, which maintains it has no business interest in Firstland Holdings. The Ministry of Corporate Affairs is looking into companies involved in the ICICI Bank controversy of an alleged conflict of interest in Chanda Kochhar's dealings with certain borrowers, according to a senior official. The official also said the affairs of ICICI Bank are not being looked into by the ministry as that is completely under the purview of the Reserve Bank of India (RBI). "The ministry is looking at allegations with respect to fraudulent, preferential or under-valued transactions... (related to) those companies which have come into controversy in the light of ICICI Bank issue," the official said.

ICICI Bank, Chanda Kochhar face US regulatory probe; Indian agencies may seek foreign help

Everyone is talking about Bitcoins, but it is just one visible tip of the iceberg. While cryptocurrency is at a nascent stage in India crypto platforms continue to excel.

It is reasonable that Bitcoin pulled in a significant manner in the last few years, there are other currencies like Ethereum, Ripple, Bitcoin Gold etc. which have high potential as well.

Though Ether has been the second popular cryptocurrency in India many still do not know that there are other options too that are picking up now. Also, now some of the Indian exchanges have launched crypto to crypto pairing options, making it easy for users to transact and invest.

Here are 5 platforms which are providing cryptocurrencies beyond bitcoins:

Unocoin

Unocoin is a Bangalore based technology startup and is India's first entrant into the crypto assets industry. The company operates India's largest crypto asset exchanges, which enables Indians to buy, sell, store, use, and accept crypto assets. It also offers a full-featured mobile app, with 24/7 access to real-time crypto assets market prices and instantaneous trading transactions. With over 1,200,000 customers, Unocoin processes transactions worth more than INR 2B, every month.

Unocoin has launched a new order-based trading feature on its platform as part of a suite of updates on its iOS and Android application. The new feature on the platform is currently built to support six major crypto assets - Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP). The Stellar (XLM) coin will soon be released.

Koinex

Koinex, commenced the new format with crypto-crypto trading on their web and mobile platforms. While there are other exchanges offering a similar trading format, Koinex yet again stands out by launching 15 pairs of tokens which will be available for trading right from the start.

Among the 15 pairs of tokens launched, the tokens available in the Bitcoin market will be Ethereum (ETH/BTC), Litecoin (LTC/BTC), TRON (TRX/BTC), Ripple (XRP/BTC), OmiseGo (OMG/BTC), Bitcoin cash (BCH/BTC), EOS (EOS/BTC), Nucleus Vision (NCASH/BTC), and Request (REQ/BTC). While the tokens available in the Ethereum market will be TRON (TRX/ETH), Ripple (XRP/ETH), OmiseGo (OMG/ETH), Bitcoin Cash (BCH/ETH), EOS (EOS/ETH), and Nucleus Vision (NCASH/ETH).

CoinSwitch.Co

Headquartered in Bangalore, CoinSwitch.Co is a blockchain-based cryptocurrency exchange aggregator platform that supports transactions in over 100 cryptocurrencies in India and 300 across the globe like altcoins, tokens like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) etc. Given its diverse offering, CoinSwitch.Co has been driving daily sales volumes upwards of USD 1 Mn.

CoinSwitch.Co aggregates multiple exchanges, facilitating transactions in all coins that are available with partner exchanges. Users can easily compare the price across multiple exchanges and opt for the best bargain. CoinSwitch.Co further allows users to convert their existing crypto-assets into other pairs, supporting over 7,000 currency pairs in India and over 45,000 across the globe.

WazirX

WazirX is India's most trusted bitcoin exchange, also enabling Indians to build up their digital assets by buying, selling or investing in other crypto-assets, such as Bitcoin, Litecoin, Ethereum, Ripple etc. In addition to supporting the leading crypto-currencies, WazirX also announced the launch of India's own digital asset, WRX.

Alluma

Amongst its many USPs, Alluma's fast and easy online on-boarding process makes the exchange attractive to advanced and novice traders alike. Alluma wallets utilize multi-signature technology, advanced privacy protection, two-factor authentication, and anti-phishing technology to ensure the highest level of security for traders' money. With its transfer tool, one simply needs to select a wallet, an email address, or the mobile number of the recipient to send currency. Additionally, Alluma's high-performance technology supports over 1,000,000 transactions per second, connecting traders with a global order book to buy and sell multiple currencies quickly and competitively. Apart from Bitcoins Alluma deals in Ethereum, Ripple, Litecoin, Eos, Tron, BCH, NEO and DASH.&nbsp

Here are 5 platforms which are providing crytocurrencies beyond bitcoins:

Everyone is talking about Bitcoins, but it is just one visible tip of the iceberg. While cryptocurrency is at a nascent stage in India crypto platforms continue to excel. It is reasonable that Bitcoin pulled in a significant manner in the last few years, there are other currencies like Ethereum, Ripple, Bitcoin Gold etc. which have high potential as well. Though Ether has been the second popular cryptocurrency in India many still do not know that there are other options too that are picking up now. Also, now some of the Indian exchanges have launched crypto to crypto pairing options, making it easy for users to transact and invest. Here are 5 platforms which are providing cryptocurrencies beyond bitcoins: Unocoin Unocoin is a Bangalore based technology startup and is India's first entrant into the crypto assets industry. The company operates India's largest crypto asset exchanges, which enables Indians to buy, sell, store, use, and accept crypto assets. It also offers a full-featured mobile app, with 24/7 access to real-time crypto assets market prices and instantaneous trading transactions. With over 1,200,000 customers, Unocoin processes transactions worth more than INR 2B, every month. Unocoin has launched a new order-based trading feature on its platform as part of a suite of updates on its iOS and Android application. The new feature on the platform is currently built to support six major crypto assets - Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP). The Stellar (XLM) coin will soon be released. Koinex Koinex, commenced the new format with crypto-crypto trading on their web and mobile platforms. While there are other exchanges offering a similar trading format, Koinex yet again stands out by launching 15 pairs of tokens which will be available for trading right from the start. Among the 15 pairs of tokens launched, the tokens available in the Bitcoin market will be Ethereum (ETH/BTC), Litecoin (LTC/BTC), TRON (TRX/BTC), Ripple (XRP/BTC), OmiseGo (OMG/BTC), Bitcoin cash (BCH/BTC), EOS (EOS/BTC), Nucleus Vision (NCASH/BTC), and Request (REQ/BTC). While the tokens available in the Ethereum market will be TRON (TRX/ETH), Ripple (XRP/ETH), OmiseGo (OMG/ETH), Bitcoin Cash (BCH/ETH), EOS (EOS/ETH), and Nucleus Vision (NCASH/ETH). CoinSwitch.Co Headquartered in Bangalore, CoinSwitch.Co is a blockchain-based cryptocurrency exchange aggregator platform that supports transactions in over 100 cryptocurrencies in India and 300 across the globe like altcoins, tokens like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) etc. Given its diverse offering, CoinSwitch.Co has been driving daily sales volumes upwards of USD 1 Mn. CoinSwitch.Co aggregates multiple exchanges, facilitating transactions in all coins that are available with partner exchanges. Users can easily compare the price across multiple exchanges and opt for the best bargain. CoinSwitch.Co further allows users to convert their existing crypto-assets into other pairs, supporting over 7,000 currency pairs in India and over 45,000 across the globe. WazirX WazirX is India's most trusted bitcoin exchange, also enabling Indians to build up their digital assets by buying, selling or investing in other crypto-assets, such as Bitcoin, Litecoin, Ethereum, Ripple etc. In addition to supporting the leading crypto-currencies, WazirX also announced the launch of India's own digital asset, WRX. Alluma Amongst its many USPs, Alluma's fast and easy online on-boarding process makes the exchange attractive to advanced and novice traders alike. Alluma wallets utilize multi-signature technology, advanced privacy protection, two-factor authentication, and anti-phishing technology to ensure the highest level of security for traders' money. With its transfer tool, one simply needs to select a wallet, an email address, or the mobile number of the recipient to send currency. Additionally, Alluma's high-performance technology supports over 1,000,000 transactions per second, connecting traders with a global order book to buy and sell multiple currencies quickly and competitively. Apart from Bitcoins Alluma deals in Ethereum, Ripple, Litecoin, Eos, Tron, BCH, NEO and DASH.

5 platforms providing access to cryptocurrencies beyond Bitcoins to India

An elite South Africa police unit raided offices of India’s Bank of Baroda on Friday and seized documents as part of an investigation into state corruption under former president Jacob Zuma, a police spokesman said.

Bank of Baroda, which is winding down its operations in South Africa, was thrust into the spotlight two years ago when it started working with the Guptas, a family of Indian-born businessmen who are at the centre of an influence-peddling scandal surrounding Zuma.

Zuma and the Guptas deny wrongdoing.

Police raided Bank of Baroda branches in Johannesburg and Durban and took documents showing bank transactions involving South African state firms, Hangwani Mulaudzi, a spokesman for the police’s elite “Hawks” unit, said.

“We are of the view that Bank of Baroda was used as a conduit for the transfer of illicit funds. The raids are happening as part of ‘state capture’ investigations,” Mulaudzi said, using a phrase coined to describe alleged influence-peddling under Zuma.

A Bank of Baroda employee in Durban who picked up the telephone confirmed the Hawks had visited the bank’s premises on Friday.

“This search and seizure operation is not for investigation on Bank of Baroda. This requisition by the Hawks is in relation to the continuing ongoing investigation of the Gupta family,” the bank said in a statement on Saturday.

The bank has been cooperating with investigating agencies and has shared relevant documents with them, it said.

An inquiry into allegations surrounding Zuma and the Guptas will begin formal public hearings in August and could take two years or more, officials have said.

Police earlier this year raided the compound of the Guptas in Johannesburg as part of an investigation into theft, fraud and money laundering at a state-backed dairy project in the Free State province that was meant to benefit the local community.

The whereabouts of the Gupta brothers is not publicly known. One of the brothers, Ajay Gupta, was declared a “fugitive from justice” after leaving South Africa for Dubai in February.

Gupta family representatives in South Africa could not be reached for comment.

Zuma was in court on Friday for a separate hearing relating to a $2.5 billion arms deal from the 1990s. He faces 16 charges of fraud, racketeering, corruption and money laundering in that case.&nbsp

Bank of Baroda, which is winding down its operations in South Africa, was thrust into the spotlight two years ago when it started working with the Guptas, a family of Indian-born businessmen who are at the centre of an influence-peddling scandal surrounding Zuma

An elite South Africa police unit raided offices of India’s Bank of Baroda on Friday and seized documents as part of an investigation into state corruption under former president Jacob Zuma, a police spokesman said. Bank of Baroda, which is winding down its operations in South Africa, was thrust into the spotlight two years ago when it started working with the Guptas, a family of Indian-born businessmen who are at the centre of an influence-peddling scandal surrounding Zuma. Zuma and the Guptas deny wrongdoing. Police raided Bank of Baroda branches in Johannesburg and Durban and took documents showing bank transactions involving South African state firms, Hangwani Mulaudzi, a spokesman for the police’s elite “Hawks” unit, said. “We are of the view that Bank of Baroda was used as a conduit for the transfer of illicit funds. The raids are happening as part of ‘state capture’ investigations,” Mulaudzi said, using a phrase coined to describe alleged influence-peddling under Zuma. A Bank of Baroda employee in Durban who picked up the telephone confirmed the Hawks had visited the bank’s premises on Friday. “This search and seizure operation is not for investigation on Bank of Baroda. This requisition by the Hawks is in relation to the continuing ongoing investigation of the Gupta family,” the bank said in a statement on Saturday. The bank has been cooperating with investigating agencies and has shared relevant documents with them, it said. An inquiry into allegations surrounding Zuma and the Guptas will begin formal public hearings in August and could take two years or more, officials have said. Police earlier this year raided the compound of the Guptas in Johannesburg as part of an investigation into theft, fraud and money laundering at a state-backed dairy project in the Free State province that was meant to benefit the local community. The whereabouts of the Gupta brothers is not publicly known. One of the brothers, Ajay Gupta, was declared a “fugitive from justice” after leaving South Africa for Dubai in February. Gupta family representatives in South Africa could not be reached for comment. Zuma was in court on Friday for a separate hearing relating to a $2.5 billion arms deal from the 1990s. He faces 16 charges of fraud, racketeering, corruption and money laundering in that case.

South African police raid Bank of Baroda in ex-President Zuma's corruption investigation

Kazuhiro Hasegawa has been driving a taxi in Tokyo for three years. It's a job he enjoys, despite 18-hour shifts.

But recently, he said, it has not been enough to make ends meet.

The 4.5 million-4.8 million yen ($41,110-$43,850) a year he makes from his primary job is far short of what he needs to cover a mortgage and university for his son, Hasegawa said.

"I have no choice but to work two jobs, as income is unstable," said Hasegawa, 51, who earns several thousand yen a month from a side job shooting and editing videos for&nbsp;businesses. "There's no rest. I try to avoid being short of sleep as that would cause trouble driving a taxi."

Japanese workers like Hasegawa are signing up for second jobs in record numbers to earn extra cash as wages stagnate, stirring hopes of a rise in consumer spending but adding to fears of overwork in a society notorious for long hours.

Facing a labour crunch, many companies welcome the influx of part-time workers. And the government has loosened rules that banned or discouraged employees from taking second jobs.

The result is that a record 7.44 million Japanese will work at least two jobs this year - or about 11 per cent of the workforce - up from 5.33 million in 2015, according to Lancers Inc, which helps freelancers find jobs.

That lags behind countries like the US, which have been embracing the "gig economy" for longer. About 20 per cent of the US workforce had second jobs in 2017, data show.

The shift in Japan aligns with Prime Minister Shinzo Abe's goal of creating a workforce that can adapt to economic changes and offer more individual freedom, which he says will promote growth.

Indeed, people working two jobs will contribute an estimated 7.8 trillion yen to the economy, Lancer's data showed.

But there is a dark side.

Japanese workers need to put in roughly 11 per cent more hours than they did in 1997 to make the same salary. In the meantime, Tokyo's annual cost of living for an average household is about $3,300 a month, government data shows, a 6 per cent decrease from 1997.

Working two or three jobs to make ends meet undercuts the government's "work-style reform" efforts, including proposed caps on overtime in response to cases of "karoshi," literally death by overwork.

"It could raise the risk that one person ends up working over 100 hours (of overtime) by assuming 50-hour jobs at two firms," said Kotaro Kurashige, an attorney of Anzai Law Office, who represents management in labour disputes.

"What the government is trying to do is full of inconsistencies," he said. "Making up for cuts in overtime pay by assuming side jobs elsewhere is like putting the cart before the horse."

The emerging trend highlights the decline of Japan's lifetime employment system, in which workers in the decades after World War Two were guaranteed job security in exchange for devotion to their employers.

Such positions are much rarer these days. A large number of workers taking second jobs would traditionally be nearing retirement age nearly half of Japanese workers with two jobs are older than 50, according to Lancers.

"There's no such thing as lifetime employment anymore," said Masaki Shimizu, 32, who on top of his regular job at internet start-up En Factory Inc, runs a coffee shop where patrons can pet live hedgehogs and has two other side jobs.

"I need these side jobs to master new skills and expand my own strengths," Shimizu said.

Natsuko Anastasia Ariyama, 25, said she earned about 200,000 yen a month from her full-time job as a university staffer and an additional 20,000 yen from a side job as a writer and translator. She does not get overtime pay, nor has she gotten a raise.

"I have started doing a second job last year to earn spending money," she said, adding that the extra work gives her a sense of security as well.

Attracting Talent

Japanese companies have traditionally demanded that their workers be fully committed to their employers.

But more are softening their views on the subject, including Rohto Pharmaceutical Co, SoftBank Group Corp, photocopier maker Konica Minolta Inc and Shinsei Bank Ltd.

Diaper maker Unicharm Corp in April started letting its 1,500 full-time employees hold second jobs. The decision was made partly to lure workers amid a labour shortage and to encourage current employees to acquire new knowledge and skills.

"We judged that benefits from side jobs outweigh potential risks such as overwork, leakage of information and brain drain," said Yukinari Watanabe, a senior human resources manager of Unicharm.

So far only one employee, a man in his 50s, has responded, asking to become a basketball coach for middle and high school students.

"We need to be a company that will attract capable workers," Watanabe said. "We also feel that workers need to acquire skills that can be used anywhere as you never know what may happen in this era of uncertainty."

New Rules

After Abe called for more labour mobility, the government has tried to clear the way for companies to allow side jobs.

In January, the labour ministry removed a rule banning second jobs without an employer's permission. Now workers must only inform their employer before taking on another job.

But recent cases of people working themselves to death have also led Abe's government to propose labour reforms such as a cap on overtime of 100 hours per month.

Many workers count on overtime pay, however, and caps would reduce that income, said Hisashi Yamada, research director at Japan Research Institute.

So as long as people can skirt that by taking additional jobs, the trend of working for more than one company will probably continue, Yamada said.

But if it spreads workers too thin, it could erode Japanese employment culture, Yamada said.

"Many Japanese firms still want employees to focus on their main job, so Japan won't turn into a country like America right away, where gig economy jobs are widely available," he said.

Facing a labour crunch, many companies welcome the influx of part-time workers

Kazuhiro Hasegawa has been driving a taxi in Tokyo for three years. It's a job he enjoys, despite 18-hour shifts. But recently, he said, it has not been enough to make ends meet. The 4.5 million-4.8 million yen ($41,110-$43,850) a year he makes from his primary job is far short of what he needs to cover a mortgage and university for his son, Hasegawa said. "I have no choice but to work two jobs, as income is unstable," said Hasegawa, 51, who earns several thousand yen a month from a side job shooting and editing videos for businesses. "There's no rest. I try to avoid being short of sleep as that would cause trouble driving a taxi." Japanese workers like Hasegawa are signing up for second jobs in record numbers to earn extra cash as wages stagnate, stirring hopes of a rise in consumer spending but adding to fears of overwork in a society notorious for long hours. Facing a labour crunch, many companies welcome the influx of part-time workers. And the government has loosened rules that banned or discouraged employees from taking second jobs. The result is that a record 7.44 million Japanese will work at least two jobs this year - or about 11 per cent of the workforce - up from 5.33 million in 2015, according to Lancers Inc, which helps freelancers find jobs. That lags behind countries like the US, which have been embracing the "gig economy" for longer. About 20 per cent of the US workforce had second jobs in 2017, data show. The shift in Japan aligns with Prime Minister Shinzo Abe's goal of creating a workforce that can adapt to economic changes and offer more individual freedom, which he says will promote growth. Indeed, people working two jobs will contribute an estimated 7.8 trillion yen to the economy, Lancer's data showed. But there is a dark side. Japanese workers need to put in roughly 11 per cent more hours than they did in 1997 to make the same salary. In the meantime, Tokyo's annual cost of living for an average household is about $3,300 a month, government data shows, a 6 per cent decrease from 1997. Working two or three jobs to make ends meet undercuts the government's "work-style reform" efforts, including proposed caps on overtime in response to cases of "karoshi," literally death by overwork. "It could raise the risk that one person ends up working over 100 hours (of overtime) by assuming 50-hour jobs at two firms," said Kotaro Kurashige, an attorney of Anzai Law Office, who represents management in labour disputes. "What the government is trying to do is full of inconsistencies," he said. "Making up for cuts in overtime pay by assuming side jobs elsewhere is like putting the cart before the horse." The emerging trend highlights the decline of Japan's lifetime employment system, in which workers in the decades after World War Two were guaranteed job security in exchange for devotion to their employers. Such positions are much rarer these days. A large number of workers taking second jobs would traditionally be nearing retirement age nearly half of Japanese workers with two jobs are older than 50, according to Lancers. "There's no such thing as lifetime employment anymore," said Masaki Shimizu, 32, who on top of his regular job at internet start-up En Factory Inc, runs a coffee shop where patrons can pet live hedgehogs and has two other side jobs. "I need these side jobs to master new skills and expand my own strengths," Shimizu said. Natsuko Anastasia Ariyama, 25, said she earned about 200,000 yen a month from her full-time job as a university staffer and an additional 20,000 yen from a side job as a writer and translator. She does not get overtime pay, nor has she gotten a raise. "I have started doing a second job last year to earn spending money," she said, adding that the extra work gives her a sense of security as well. Attracting Talent Japanese companies have traditionally demanded that their workers be fully committed to their employers. But more are softening their views on the subject, including Rohto Pharmaceutical Co, SoftBank Group Corp, photocopier maker Konica Minolta Inc and Shinsei Bank Ltd. Diaper maker Unicharm Corp in April started letting its 1,500 full-time employees hold second jobs. The decision was made partly to lure workers amid a labour shortage and to encourage current employees to acquire new knowledge and skills. "We judged that benefits from side jobs outweigh potential risks such as overwork, leakage of information and brain drain," said Yukinari Watanabe, a senior human resources manager of Unicharm. So far only one employee, a man in his 50s, has responded, asking to become a basketball coach for middle and high school students. "We need to be a company that will attract capable workers," Watanabe said. "We also feel that workers need to acquire skills that can be used anywhere as you never know what may happen in this era of uncertainty." New Rules After Abe called for more labour mobility, the government has tried to clear the way for companies to allow side jobs. In January, the labour ministry removed a rule banning second jobs without an employer's permission. Now workers must only inform their employer before taking on another job. But recent cases of people working themselves to death have also led Abe's government to propose labour reforms such as a cap on overtime of 100 hours per month. Many workers count on overtime pay, however, and caps would reduce that income, said Hisashi Yamada, research director at Japan Research Institute. So as long as people can skirt that by taking additional jobs, the trend of working for more than one company will probably continue, Yamada said. But if it spreads workers too thin, it could erode Japanese employment culture, Yamada said. "Many Japanese firms still want employees to focus on their main job, so Japan won't turn into a country like America right away, where gig economy jobs are widely available," he said.

Second jobs, once rare in Japan, are reshaping attitudes about work

The BSE Sensex slipped over 137 points to 35,325.98 in early trade today on heavy selling in power, realty, oil & gas and banking stocks amid sustained capital outflows by foreign funds.

A depreciating rupee against the dollar also dampened the sentiment.

Moreover, decline in Asian stocks after the mixed close on Wall Street overnight and rising crude oil prices amid sustained capital outflows influenced the sentiment here, brokers said.

Oil prices rose today as Venezuela struggled to meet its supply obligations, and also due to the ongoing voluntary output cuts led by producer cartel OPEC.

Brent crude futures were at $ 77.45 per barrel, up 13 cents, or 0.20 per cent. WTI crude futures were up 19 cents, or 0.30 per cent at $ 66.14 a barrel.

The 30-share index dropped 137.10 points or 0.38 per cent to 35,325.98. The gauge had gained 559.87 points in the previous two sessions.

In a similar fashion, the NSE Nifty fell 50.65 points or 0.47 per cent to 10,717.70.

Sectoral indices led by power, realty, oil and gas, banking, PSU, consumer durables and infrastructure were trading in the negative zone, falling up to 0.93 per cent.

Major losers were power grid, ICICI Bank, IndusInd Bank, Yes Bank, RIL, Axis Bank, HDFC Bank, HDFC Ltd, Asian Paints, M&M, Hero Motorocorp, Bajaj Auto, SBI, NTPC, Wipro and Bharti Airtel, falling up to 2.05 per cent.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 525.40 crore yesterday, while domestic institutional investors (DIIs) bought shares worth Rs 1,197.89 crore as per provisional data.

In the Asian region, Japan's Nikkei fell 0.20 per cent and Hong Kong's Hang Seng shed 1.30 per cent in early trade. China's Shanghai Composite index too was down 1.29 per cent.

The Dow Jones Industrial Average ended 0.38 per cent higher in yesterday's trade.

A depreciating rupee against the dollar also dampened the sentiment

The BSE Sensex slipped over 137 points to 35,325.98 in early trade today on heavy selling in power, realty, oil & gas and banking stocks amid sustained capital outflows by foreign funds. A depreciating rupee against the dollar also dampened the sentiment. Moreover, decline in Asian stocks after the mixed close on Wall Street overnight and rising crude oil prices amid sustained capital outflows influenced the sentiment here, brokers said. Oil prices rose today as Venezuela struggled to meet its supply obligations, and also due to the ongoing voluntary output cuts led by producer cartel OPEC. Brent crude futures were at $ 77.45 per barrel, up 13 cents, or 0.20 per cent. WTI crude futures were up 19 cents, or 0.30 per cent at $ 66.14 a barrel. The 30-share index dropped 137.10 points or 0.38 per cent to 35,325.98. The gauge had gained 559.87 points in the previous two sessions. In a similar fashion, the NSE Nifty fell 50.65 points or 0.47 per cent to 10,717.70. Sectoral indices led by power, realty, oil and gas, banking, PSU, consumer durables and infrastructure were trading in the negative zone, falling up to 0.93 per cent. Major losers were power grid, ICICI Bank, IndusInd Bank, Yes Bank, RIL, Axis Bank, HDFC Bank, HDFC Ltd, Asian Paints, M&M, Hero Motorocorp, Bajaj Auto, SBI, NTPC, Wipro and Bharti Airtel, falling up to 2.05 per cent. Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 525.40 crore yesterday, while domestic institutional investors (DIIs) bought shares worth Rs 1,197.89 crore as per provisional data. In the Asian region, Japan's Nikkei fell 0.20 per cent and Hong Kong's Hang Seng shed 1.30 per cent in early trade. China's Shanghai Composite index too was down 1.29 per cent. The Dow Jones Industrial Average ended 0.38 per cent higher in yesterday's trade.

Sensex down 137 points in early trade on weak Asian cues

Indian shares ended largely flat on Friday as losses in both indexes on account of profit-booking were capped by gains in Sun Pharmaceutical Industries Ltd after its Halol plant received Voluntary Action Indicated (VAI) status from the U.S. health regulator.

The broader NSE Nifty closed down 0.01 per cent at 10,767.65, while the benchmark BSE&nbsp;Sensex ended 0.05 per cent lower at 35,443.67.

Both indexes posted their third straight weekly gain, with the NSE index climbing 0.67 per cent and BSE rising 0.61 per cent for the week.

Shares of Sun Pharmaceutical Industries Ltd closed 8 per cent higher after the US&nbsp;Food and Drug Administration issued VAI status to the drugmaker's Halol plant, boosting confidence that the company would soon obtain clearance for the plant.

The broader NSE Nifty closed down 0.01 per cent at 10,767.65, while the benchmark BSE Sensex ended 0.05 per cent lower at 35,443.67

Indian shares ended largely flat on Friday as losses in both indexes on account of profit-booking were capped by gains in Sun Pharmaceutical Industries Ltd after its Halol plant received Voluntary Action Indicated (VAI) status from the U.S. health regulator. The broader NSE Nifty closed down 0.01 per cent at 10,767.65, while the benchmark BSE Sensex ended 0.05 per cent lower at 35,443.67. Both indexes posted their third straight weekly gain, with the NSE index climbing 0.67 per cent and BSE rising 0.61 per cent for the week. Shares of Sun Pharmaceutical Industries Ltd closed 8 per cent higher after the US Food and Drug Administration issued VAI status to the drugmaker's Halol plant, boosting confidence that the company would soon obtain clearance for the plant.

Nifty, Sensex recover from early losses to end flat

Britain's markets watchdog will press ahead with a new premium listing next month aimed at attracting companies like state-controlled Saudi Aramco to London, although the rules have been "refined" following investor criticism.

The Financial Conduct Authority's initial proposal last year led to suggestions the British government had influenced the watchdog to try to secure the Saudi energy company's planned initial public offering (IPO).

Saudi Arabia is expected to float up to 5 per cent of Aramco in Riyadh and an international venue such as London or New York in what is expected to be the biggest ever IPO and would boost the reputation of its chosen listing venue.

Britain is keen to promote London's leading position as a financial centre as it leaves the European Union but some lawmakers had questioned if the original proposal for listings by sovereign-controlled firms could weaken investor protection.

The FCA said it was pressing ahead, despite criticism of its plans by major institutional investors when they were first circulated in July last year.

"The FCA thinks there is considerable benefit to investors if corporate issuers agree to meet these additional premium requirements," the watchdog said in a statement accompanying an 83-page document outlining the new rules on Friday.

The FCA said it had made some changes following feedback, including the requirement that the election of independent directors be subject to approval from independent shareholders.

There would also be a requirement for "timely disclosures" on transactions between the sovereign and the issuer.

But there will not be a requirement for a controlling shareholder agreement, and no need for an advance sponsor opinion or advance approval by independent shareholders of certain transactions with the sovereign or its associates.

"These rules mean when a sovereign controlled company lists here, investors can benefit from the protections offered by a premium listing," FCA Chief Executive Andrew Bailey said.

The watchdog said responses to its consultation were "polarised", with big investors mostly against, and all others generally supportive.

The Investment Association, which represents big shareholders, said it was disappointed by the lack of a requirement for independent votes on the changes made. It also wants a review of the new listing category after two years to check for any unintended consequences.

"We continue to oppose the inclusion of companies in this new segment in all major equity indices as this would force UK savers to invest in these companies despite the loss of valuable and hard-won investor protections," the IA's chief executive Chris Cummings said in a statement.

Nick O'Donnell, a partner at law firm Baker McKenzie, said that overall the FCA had stuck to its guns while central planks of corporate governance standards, such as being part of a FTSE index not being automatic, remain intact.

"Although the proposal has often been linked with the possible Saudi Aramco IPO, the reality is this is much wider than that. There are a lot of other companies that have been looking at this segment," O'Donnell said.

A premium listing in London would typically require a float of at least 25 per cent of a company's shares, but the new category could allow a smaller float, the FCA said.

"Some very large companies can make a credible case for a liquid market at a free float of less than 25 per cent," it said.

The FCA said it was pressing ahead, despite criticism of its plans by major institutional investors when they were first circulated in July last year

Britain's markets watchdog will press ahead with a new premium listing next month aimed at attracting companies like state-controlled Saudi Aramco to London, although the rules have been "refined" following investor criticism. The Financial Conduct Authority's initial proposal last year led to suggestions the British government had influenced the watchdog to try to secure the Saudi energy company's planned initial public offering (IPO). Saudi Arabia is expected to float up to 5 per cent of Aramco in Riyadh and an international venue such as London or New York in what is expected to be the biggest ever IPO and would boost the reputation of its chosen listing venue. Britain is keen to promote London's leading position as a financial centre as it leaves the European Union but some lawmakers had questioned if the original proposal for listings by sovereign-controlled firms could weaken investor protection. The FCA said it was pressing ahead, despite criticism of its plans by major institutional investors when they were first circulated in July last year. "The FCA thinks there is considerable benefit to investors if corporate issuers agree to meet these additional premium requirements," the watchdog said in a statement accompanying an 83-page document outlining the new rules on Friday. The FCA said it had made some changes following feedback, including the requirement that the election of independent directors be subject to approval from independent shareholders. There would also be a requirement for "timely disclosures" on transactions between the sovereign and the issuer. But there will not be a requirement for a controlling shareholder agreement, and no need for an advance sponsor opinion or advance approval by independent shareholders of certain transactions with the sovereign or its associates. "These rules mean when a sovereign controlled company lists here, investors can benefit from the protections offered by a premium listing," FCA Chief Executive Andrew Bailey said. The watchdog said responses to its consultation were "polarised", with big investors mostly against, and all others generally supportive. The Investment Association, which represents big shareholders, said it was disappointed by the lack of a requirement for independent votes on the changes made. It also wants a review of the new listing category after two years to check for any unintended consequences. "We continue to oppose the inclusion of companies in this new segment in all major equity indices as this would force UK savers to invest in these companies despite the loss of valuable and hard-won investor protections," the IA's chief executive Chris Cummings said in a statement. Nick O'Donnell, a partner at law firm Baker McKenzie, said that overall the FCA had stuck to its guns while central planks of corporate governance standards, such as being part of a FTSE index not being automatic, remain intact. "Although the proposal has often been linked with the possible Saudi Aramco IPO, the reality is this is much wider than that. There are a lot of other companies that have been looking at this segment," O'Donnell said. A premium listing in London would typically require a float of at least 25 per cent of a company's shares, but the new category could allow a smaller float, the FCA said. "Some very large companies can make a credible case for a liquid market at a free float of less than 25 per cent," it said.

Britain's FCA goes ahead with disputed 'Aramco' listing rule

World stocks slipped on Friday as expectations of trade tensions dominating this weekend's summit of G7 countries, along with renewed talk of monetary tightening by major central banks, weighed on risk sentiment.

The MSCI All-Country World index, which tracks shares in 47 countries, was down nearly half a per cent in morning trade in Europe - though it was still set to break a three-week streak of losses.

Fears of a trade war, expectations of more rate hikes in the United States, and a wind-down of a massive monetary stimulus in Europe fuelled a risk-off tone in markets, investors said.

The US&nbsp;Federal Reserve is widely expected to raise interest rates for a second time this year next week. The focus is on whether it will hint at raising rates four times in 2018.

European Central Bank policymakers meeting on June 14 will debate whether to end bond purchases later this year, the bank's chief economist said this week, in a hawkish message that sent the euro to a three-week top, hit emerging markets, and spurred demand for safe-haven bonds.

Before those meetings, however, markets will have to digest fallout from the G7 summit in Quebec, where the mounting risk of a tariff war between the United States and its major trade partners will be in the spotlight.

An unprecedented US-North Korea summit scheduled for June 12 in Singapore, with Washington seeking to pressure Pyongyang into abandoning its nuclear weapons programme, is giving investors another reason for caution.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1 per cent after six straight sessions of gains took it to its highest since mid-March. It was on track for a weekly gain of more than 1 per cent.

Chinese shares slipped, with the blue-chip Shangai-Shenzhen index down 1.7 per cent and Hong Kong's Hang Seng.HSI declining 1.5 per cent.

Japan's Nikkei average and South Korea's KOSPI were off 0.6 per cent and 0.8 per cent, respectively, while Australian shares ended 0.1 per cent lower.

The pan-European STOXX 600 index was on track for its third weekly loss in a row, with renewed strength in the euro also weighing. It was down 0.7 per cent.

Italy's government bonds faced renewed selling pressure, as the risk aversion in world markets and unease about Rome's spending plans set yields on short-dated debt up for their biggest weekly rise since 2012.

"A few things are contributing to nervousness today -- the trade issues are back on, then there is the Italy situation and we are not sure how the ECB will respond to that," said Salman Ahmed, chief investment strategist at Lombard Odier Investment Management.

"And in emerging markets, there are some idiosyncratic risks (Turkey, Argentina and Brazil) which are becoming worrying." He remained "cautious" on adding risk, as "none of these issues seems to have a clear short-term resolution."

The dollar rebounded 0.3 per cent from near three-week lows against a basket of currencies, helped by the strong jobless claims numbers in the US&nbsp;on Thursday.

The dollar has come under pressure this week as the euro bounced back from 10-month lows thanks to an ebbing of political concerns over Italy as well as the possible ECB moves over its bond purchases.

The dollar fell against the safe-haven Japanese yen to 109.35 but remained well below a four-month top of 111.39 touched in May.

The euro inched down to $1.1763 after four straight session of gains took it to its highest level since mid-May.

In commodities, copper came off from a 4-1/2-year high touched on Wednesday.

Oil prices fell as surging US&nbsp;output and signs of weakening demand in China output outweighed support from supply woes in Venezuela and OPEC's production cuts.

U.S. crude fell 0.5 per cent to $65.64 a barrel, while Brent dropped 0.5 per cent to $76.95.

Spot gold slipped 0.1 per cent at $1,298.47 an ounce.

Fears of a trade war, expectations of more rate hikes in the United States, and a wind-down of a massive monetary stimulus in Europe fuelled a risk-off tone in markets, investors said

World stocks slipped on Friday as expectations of trade tensions dominating this weekend's summit of G7 countries, along with renewed talk of monetary tightening by major central banks, weighed on risk sentiment. The MSCI All-Country World index, which tracks shares in 47 countries, was down nearly half a per cent in morning trade in Europe - though it was still set to break a three-week streak of losses. Fears of a trade war, expectations of more rate hikes in the United States, and a wind-down of a massive monetary stimulus in Europe fuelled a risk-off tone in markets, investors said. The US Federal Reserve is widely expected to raise interest rates for a second time this year next week. The focus is on whether it will hint at raising rates four times in 2018. European Central Bank policymakers meeting on June 14 will debate whether to end bond purchases later this year, the bank's chief economist said this week, in a hawkish message that sent the euro to a three-week top, hit emerging markets, and spurred demand for safe-haven bonds. Before those meetings, however, markets will have to digest fallout from the G7 summit in Quebec, where the mounting risk of a tariff war between the United States and its major trade partners will be in the spotlight. An unprecedented US-North Korea summit scheduled for June 12 in Singapore, with Washington seeking to pressure Pyongyang into abandoning its nuclear weapons programme, is giving investors another reason for caution. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1 per cent after six straight sessions of gains took it to its highest since mid-March. It was on track for a weekly gain of more than 1 per cent. Chinese shares slipped, with the blue-chip Shangai-Shenzhen index down 1.7 per cent and Hong Kong's Hang Seng.HSI declining 1.5 per cent. Japan's Nikkei average and South Korea's KOSPI were off 0.6 per cent and 0.8 per cent, respectively, while Australian shares ended 0.1 per cent lower. The pan-European STOXX 600 index was on track for its third weekly loss in a row, with renewed strength in the euro also weighing. It was down 0.7 per cent. Italy's government bonds faced renewed selling pressure, as the risk aversion in world markets and unease about Rome's spending plans set yields on short-dated debt up for their biggest weekly rise since 2012. "A few things are contributing to nervousness today -- the trade issues are back on, then there is the Italy situation and we are not sure how the ECB will respond to that," said Salman Ahmed, chief investment strategist at Lombard Odier Investment Management. "And in emerging markets, there are some idiosyncratic risks (Turkey, Argentina and Brazil) which are becoming worrying." He remained "cautious" on adding risk, as "none of these issues seems to have a clear short-term resolution." The dollar rebounded 0.3 per cent from near three-week lows against a basket of currencies, helped by the strong jobless claims numbers in the US on Thursday. The dollar has come under pressure this week as the euro bounced back from 10-month lows thanks to an ebbing of political concerns over Italy as well as the possible ECB moves over its bond purchases. The dollar fell against the safe-haven Japanese yen to 109.35 but remained well below a four-month top of 111.39 touched in May. The euro inched down to $1.1763 after four straight session of gains took it to its highest level since mid-May. In commodities, copper came off from a 4-1/2-year high touched on Wednesday. Oil prices fell as surging US output and signs of weakening demand in China output outweighed support from supply woes in Venezuela and OPEC's production cuts. U.S. crude fell 0.5 per cent to $65.64 a barrel, while Brent dropped 0.5 per cent to $76.95. Spot gold slipped 0.1 per cent at $1,298.47 an ounce.

Global Stocks: Stocks slip as central bank talk, trade, weigh on risk sentiment

Indian bonds rallied on Friday on optimism that the government will soon take steps to ease a jump in bond yields after word spread that the interim finance minister had met a handful of bankers and analysts to seek feedback on the economy.

In the meeting held late on Thursday, Piyush Goyal allayed concerns around India's fiscal deficit and rising inflation, and sought feedback on massive losses in banks' bond holdings, two participants who attended the meeting told Reuters.

Goyal wanted to know ways in which the government could help banks reduce the trading losses on their bond portfolios due to soaring yields, one of the participants said.

Some of the suggestions from the participants included issuance of floating rate bonds and bond buybacks by the government, he said.

Indian bonds have weakened to multi-year lows as global oil prices surged, causing yields to spike above 8 per cent.

The benchmark 10-year bond yield opened at a three-year high of 8.033 per cent on Friday, on worries over further rate hikes and a potentially higher fiscal deficit. However, by 0750 GMT the yield had eased to 7.92 percent.

On Wednesday, the country's central bank raised its key policy rate for the first time in four years, citing growing inflation worries due to a steep spike in oil prices and a weakening rupee.

The hike - the first since Prime Minister Narendra Modi came to power - could not have come at a worse time for a government grappling with spending constraints, voter discontent in the rural heartlands and rising oil prices.

Goyal assured the government would stick to its fiscal deficit target of 3.3 per cent, responding to concerns over fiscal slippage ahead of an election year, according to one of the participants.

The minister also said that the government's proposed plan to buy food grains at a minimum price from farmers would not be inflationary.

Goyal, who is currently the railway minister, has taken additional charge of the finance ministry temporarily until Arun Jaitley recovers after undergoing a kidney transplant.

"He was just seeking feedback and we do not know whether the government will implement any of these steps or not," another participant at the meeting told Reuters.

Piyush Goyal allayed concerns around India's fiscal deficit and rising inflation

Indian bonds rallied on Friday on optimism that the government will soon take steps to ease a jump in bond yields after word spread that the interim finance minister had met a handful of bankers and analysts to seek feedback on the economy. In the meeting held late on Thursday, Piyush Goyal allayed concerns around India's fiscal deficit and rising inflation, and sought feedback on massive losses in banks' bond holdings, two participants who attended the meeting told Reuters. Goyal wanted to know ways in which the government could help banks reduce the trading losses on their bond portfolios due to soaring yields, one of the participants said. Some of the suggestions from the participants included issuance of floating rate bonds and bond buybacks by the government, he said. Indian bonds have weakened to multi-year lows as global oil prices surged, causing yields to spike above 8 per cent. The benchmark 10-year bond yield opened at a three-year high of 8.033 per cent on Friday, on worries over further rate hikes and a potentially higher fiscal deficit. However, by 0750 GMT the yield had eased to 7.92 percent. On Wednesday, the country's central bank raised its key policy rate for the first time in four years, citing growing inflation worries due to a steep spike in oil prices and a weakening rupee. The hike - the first since Prime Minister Narendra Modi came to power - could not have come at a worse time for a government grappling with spending constraints, voter discontent in the rural heartlands and rising oil prices. Goyal assured the government would stick to its fiscal deficit target of 3.3 per cent, responding to concerns over fiscal slippage ahead of an election year, according to one of the participants. The minister also said that the government's proposed plan to buy food grains at a minimum price from farmers would not be inflationary. Goyal, who is currently the railway minister, has taken additional charge of the finance ministry temporarily until Arun Jaitley recovers after undergoing a kidney transplant. "He was just seeking feedback and we do not know whether the government will implement any of these steps or not," another participant at the meeting told Reuters.

Indian bonds rally on hopes government will bolster markets

China's trade of goods rose by 8.8 per cent year on year to 11.63 trillion yuan (about 1.82 trillion US dollars) in the first five months of 2018, according to official data from China's General Administration of Customs (GAC) released on Friday.

Exports of cargo trade rose by 5.5 per cent year on year to 6.14 trillion yuan (approx. 0.96 trillion US dollars) in the January-May period while imports grew by 12.6 per cent to 5.49 trillion yuan (approx. 0.86 trillion U.S. dollars).

The numbers resulted in a trade surplus of 649.8 billion yuan, which narrowed by 31 per cent when compared to the same period last year, according to the GAC.

"Since the beginning of this year, China’s imports and exports have continued along a healthy trend towards stable growth and maintained relatively fast growth in the first five months. Meanwhile, domestic demand has been growing and the country has actively expanded imports, so the trade surplus has narrowed, and trade of goods has moved towards a more balanced development," said Huang Songping, the director of the GAC Department of Statistics.

In the first five months, the European Union (EU) remained China's top trade partner, with trade volume between the two sides increasing by 7.3 per cent to 1.7 trillion yuan (approx. 265.3 billion U.S. dollars). That number is followed by that of the United States at 1.57 trillion yuan (approx. 245.0 billion US dollars) and then the Association of Southeast Asian Nations (ASEAN) at 1.49 trillion yuan (approx. 232.5 billion U.S. dollars).

China's trade with countries along the Belt and Road registered faster-than-average growth, with the trade volume standing at 3.21 trillion yuan, up 11.1 per cent from last year.

The numbers resulted in a trade surplus of 649.8 billion yuan, which narrowed by 31 per cent

China's trade of goods rose by 8.8 per cent year on year to 11.63 trillion yuan (about 1.82 trillion US dollars) in the first five months of 2018, according to official data from China's General Administration of Customs (GAC) released on Friday. Exports of cargo trade rose by 5.5 per cent year on year to 6.14 trillion yuan (approx. 0.96 trillion US dollars) in the January-May period while imports grew by 12.6 per cent to 5.49 trillion yuan (approx. 0.86 trillion U.S. dollars). The numbers resulted in a trade surplus of 649.8 billion yuan, which narrowed by 31 per cent when compared to the same period last year, according to the GAC. "Since the beginning of this year, China’s imports and exports have continued along a healthy trend towards stable growth and maintained relatively fast growth in the first five months. Meanwhile, domestic demand has been growing and the country has actively expanded imports, so the trade surplus has narrowed, and trade of goods has moved towards a more balanced development," said Huang Songping, the director of the GAC Department of Statistics. In the first five months, the European Union (EU) remained China's top trade partner, with trade volume between the two sides increasing by 7.3 per cent to 1.7 trillion yuan (approx. 265.3 billion U.S. dollars). That number is followed by that of the United States at 1.57 trillion yuan (approx. 245.0 billion US dollars) and then the Association of Southeast Asian Nations (ASEAN) at 1.49 trillion yuan (approx. 232.5 billion U.S. dollars). China's trade with countries along the Belt and Road registered faster-than-average growth, with the trade volume standing at 3.21 trillion yuan, up 11.1 per cent from last year.

China's foreign trade up 8.8 % in first five months

Oil prices fell on Friday, reversing early gains as signs of weakening demand in China and surging U.S. output weighed on markets despite support from supply woes in Venezuela and OPEC's production cuts.

Brent crude futures, the international benchmark for oil prices, were at $76.79 per barrel at 0654 GMT, down 53 cents, or 0.7 per cent, from their last close.

US&nbsp;West Texas Intermediate (WTI) crude futures were down 38 cents, or 0.6 per cent, at $65.57 a barrel.

China's May crude oil imports eased away from a record high hit the month before, customs data showed on Friday, with state-run refineries entering planned maintenance.

May shipments were 39.05 million tonnes, or 9.2 million barrels per day (bpd), according to the General Administration of Customs. That compared with 9.6 million bpd in April.

Further weighing on prices has been surging U.S. output, which hit another record last week at 10.8 million bpd.

That's a 28 per cent gain in two years, or an average 2.3 per cent growth rate per month since mid-2016. It puts the United States close to becoming the world's biggest crude oil producer, edging nearer to the 11 million bpd churned out by Russia.

The surge in U.S. production has pulled down U.S. WTI crude into a steep discount versus Brent to more than $11 per barrel, its steepest since 2015.

"This is occurring because of the rapid increase in production from U.S. shale coupled with the tightening of supplies elsewhere through the actions of OPEC and Russia," said William O'Loughlin, investment analyst at Australia's Rivkin Securities.

Despite Friday's falls, Brent remains more than 15 per cent above its level at the start of the year.

U.S. investment bank Jefferies said on Friday that the "crude market is tight and spare capacity could dwindle to 2 per cent of demand in 2H18, its lowest level since at least 1984".

Markets have been tightened by supply trouble in Venezuela, where state-owned oil firm PDVSA is struggling to clear a backlog of around 24 million barrels of crude waiting to be shipped to customers.

More generally, Brent has been pushed up by voluntary production cuts led by the Middle East dominated producer cartel of the Organization of the Petroleum Exporting Countries (OPEC) and by top producer Russia, which were put in place in 2017.

The group and Russia are due to meet at its headquarters in Vienna on June 22 to discuss production policy.

"The June 22 OPEC meeting will now likely become the most important factor influencing (the) crude price," Jefferies said.

US West Texas Intermediate (WTI) crude futures were down 38 cents, or 0.6 per cent, at $65.57 a barrel

Oil prices fell on Friday, reversing early gains as signs of weakening demand in China and surging U.S. output weighed on markets despite support from supply woes in Venezuela and OPEC's production cuts. Brent crude futures, the international benchmark for oil prices, were at $76.79 per barrel at 0654 GMT, down 53 cents, or 0.7 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were down 38 cents, or 0.6 per cent, at $65.57 a barrel. China's May crude oil imports eased away from a record high hit the month before, customs data showed on Friday, with state-run refineries entering planned maintenance. May shipments were 39.05 million tonnes, or 9.2 million barrels per day (bpd), according to the General Administration of Customs. That compared with 9.6 million bpd in April. Further weighing on prices has been surging U.S. output, which hit another record last week at 10.8 million bpd. That's a 28 per cent gain in two years, or an average 2.3 per cent growth rate per month since mid-2016. It puts the United States close to becoming the world's biggest crude oil producer, edging nearer to the 11 million bpd churned out by Russia. The surge in U.S. production has pulled down U.S. WTI crude into a steep discount versus Brent to more than $11 per barrel, its steepest since 2015. "This is occurring because of the rapid increase in production from U.S. shale coupled with the tightening of supplies elsewhere through the actions of OPEC and Russia," said William O'Loughlin, investment analyst at Australia's Rivkin Securities. Despite Friday's falls, Brent remains more than 15 per cent above its level at the start of the year. U.S. investment bank Jefferies said on Friday that the "crude market is tight and spare capacity could dwindle to 2 per cent of demand in 2H18, its lowest level since at least 1984". Markets have been tightened by supply trouble in Venezuela, where state-owned oil firm PDVSA is struggling to clear a backlog of around 24 million barrels of crude waiting to be shipped to customers. More generally, Brent has been pushed up by voluntary production cuts led by the Middle East dominated producer cartel of the Organization of the Petroleum Exporting Countries (OPEC) and by top producer Russia, which were put in place in 2017. The group and Russia are due to meet at its headquarters in Vienna on June 22 to discuss production policy. "The June 22 OPEC meeting will now likely become the most important factor influencing (the) crude price," Jefferies said.

Oil prices fall on dip in China demand, surging US output

&nbsp;Airbus SE is set to close a deal to take a controlling stake in Bombardier Inc's CSeries jetliner program, effective July 1, the companies said on Friday, in a move expected to kickstart the European planemaker's ability to put its marketing and cost-cutting muscle into the Canadian plane program.

Bombardier agreed in October to sell Airbus a 50.01 per cent stake in its flagship commercial jet for a symbolic Canadian dollar, as the plane program battled sluggish sales and low production, which made it harder to keep a lid on costs.

Airbus, by contrast, will be able to offer airlines deals by packaging the CSeries with its own jets and is expected to use its purchasing prowess to drastically cut the price of parts, along with improving efficiencies internally.

Bombardier will now own about 31 per cent, while Investissement Quebec, the investment arm of the province of Quebec, will hold a 19 per cent stake.

The Quebec government, through its financing arm, took a 49 per cent stake in the CSeries program in 2015 for $1 billion. Quebec's share, most recently worth 38 per cent, slipped to 19 per cent following the deal with Airbus.

The deal was announced at a time when Bombardier was locked in a trade dispute with U.S. planemaker Boeing Co.

The dispute ended in March when Boeing said it will not appeal a U.S. trade commission ruling that allows Bombardier to sell its CSeries in the United States without hefty duties.

Boeing is now holding its own tie-up talks with Bombardier's Brazilian rival Embraer SA. The closing allows Airbus' sales team to promote the CSeries during campaigns to carriers such as Grupo Aeromexico and Ethiopian Airlines, with the European planemaker expected to boost orders and change the plane's name to an Airbus brand.

Airbus, by contrast, will be able to offer airlines deals by packaging the CSeries with its own jets

Airbus SE is set to close a deal to take a controlling stake in Bombardier Inc's CSeries jetliner program, effective July 1, the companies said on Friday, in a move expected to kickstart the European planemaker's ability to put its marketing and cost-cutting muscle into the Canadian plane program. Bombardier agreed in October to sell Airbus a 50.01 per cent stake in its flagship commercial jet for a symbolic Canadian dollar, as the plane program battled sluggish sales and low production, which made it harder to keep a lid on costs. Airbus, by contrast, will be able to offer airlines deals by packaging the CSeries with its own jets and is expected to use its purchasing prowess to drastically cut the price of parts, along with improving efficiencies internally. Bombardier will now own about 31 per cent, while Investissement Quebec, the investment arm of the province of Quebec, will hold a 19 per cent stake. The Quebec government, through its financing arm, took a 49 per cent stake in the CSeries program in 2015 for $1 billion. Quebec's share, most recently worth 38 per cent, slipped to 19 per cent following the deal with Airbus. The deal was announced at a time when Bombardier was locked in a trade dispute with U.S. planemaker Boeing Co. The dispute ended in March when Boeing said it will not appeal a U.S. trade commission ruling that allows Bombardier to sell its CSeries in the United States without hefty duties. Boeing is now holding its own tie-up talks with Bombardier's Brazilian rival Embraer SA. The closing allows Airbus' sales team to promote the CSeries during campaigns to carriers such as Grupo Aeromexico and Ethiopian Airlines, with the European planemaker expected to boost orders and change the plane's name to an Airbus brand.

Airbus set to close deal for majority stake in Bombardier Cseries

China's&nbsp;Commerce&nbsp;Ministry&nbsp;said on Thursday that the country does not want an escalation of trade frictions with the United States and that some specific progress was made in the latest round of talks that concluded over the weekend.

China has said that it is willing to increase imports from America as part of negotiations to reduce the United States' $375 billion goods trade deficit with the world's second-largest economy and defuse broader commercial tensions.

Sources have told Reuters that President Donald Trump has discussed with trade advisors a Chinese government offer to import an extra $70 billion in US&nbsp;agricultural and energy commodities, but it is unclear if such as deal would be enough to avert a trade war.

Trump has threatened tariffs on up to $150 billion of Chinese exports as part of a separate dispute over Chinese intellectual property (IP) protections.

The administration has said that a final list of goods for the first wave of duties will be issued next week and that US&nbsp;Treasury Department plans to limit Chinese investment in the United States were also underway.

Commerce&nbsp;Ministry&nbsp;spokesman Gao Feng said that talks on Sunday between US&nbsp;commerce secretary Wilbur Ross and Chinese Vice Premier Liu He in Beijing included in-depth discussions about agriculture and energy trade, but he did not confirm that China had made a $70 billion offer.

Gao told a weekly news briefing that the talks had made specific progress, and reiterated&nbsp;China'swillingness to import more from the United States, but he did not offer details.

"There were discussions regarding specific areas of cooperation, including in-depth talks on agriculture and energy. China is willing to increase imports from the US&nbsp;(as part of negotiations)," Gao said.

China on Sunday warned that any agreements reached on trade and business between the two countries will be void if Washington implements tariffs and other trade measures.

Structural issues that for years have angered Washington, such as Chinese joint venture rules, market access restrictions, and policies that result in technology transfers, were not covered during Ross' latest trip to Beijing, according to sources.

Trump has threatened tariffs on up to $150 billion of Chinese exports as part of a separate dispute over Chinese intellectual property (IP) protections

China's Commerce Ministry said on Thursday that the country does not want an escalation of trade frictions with the United States and that some specific progress was made in the latest round of talks that concluded over the weekend. China has said that it is willing to increase imports from America as part of negotiations to reduce the United States' $375 billion goods trade deficit with the world's second-largest economy and defuse broader commercial tensions. Sources have told Reuters that President Donald Trump has discussed with trade advisors a Chinese government offer to import an extra $70 billion in US agricultural and energy commodities, but it is unclear if such as deal would be enough to avert a trade war. Trump has threatened tariffs on up to $150 billion of Chinese exports as part of a separate dispute over Chinese intellectual property (IP) protections. The administration has said that a final list of goods for the first wave of duties will be issued next week and that US Treasury Department plans to limit Chinese investment in the United States were also underway. Commerce Ministry spokesman Gao Feng said that talks on Sunday between US commerce secretary Wilbur Ross and Chinese Vice Premier Liu He in Beijing included in-depth discussions about agriculture and energy trade, but he did not confirm that China had made a $70 billion offer. Gao told a weekly news briefing that the talks had made specific progress, and reiterated China'swillingness to import more from the United States, but he did not offer details. "There were discussions regarding specific areas of cooperation, including in-depth talks on agriculture and energy. China is willing to increase imports from the US (as part of negotiations)," Gao said. China on Sunday warned that any agreements reached on trade and business between the two countries will be void if Washington implements tariffs and other trade measures. Structural issues that for years have angered Washington, such as Chinese joint venture rules, market access restrictions, and policies that result in technology transfers, were not covered during Ross' latest trip to Beijing, according to sources.

China says it does not want US trade frictions to escalate

Asian&nbsp;shares&nbsp;rose to a fresh 11-week high on Thursday, supported by sound economic fundamentals, while expectations the&nbsp;European Central Bank (ECB) may soon start to wind down its stimulus boosted the&nbsp;euro&nbsp;and&nbsp;global&nbsp;bond&nbsp;yields.

MSCI's broadest index of Asia-Pacific&nbsp;shares&nbsp;outside Japan advanced 0.5 per cent to extend its gains,&nbsp;hitting a 2-1/2-month high for a second straight day. Japan's Nikkei average rose 0.9 per cent.

Notable gainers included technology-heavy Taiwanese stocks, with Taiwan's main index nearing the 27-year high of 11,270&nbsp;hit&nbsp;on January 23. The index has rallied 4.25 per cent since last Wednesday, boosted by the rally in tech stocks and the Nasdaq.

India's broader NSE index rose to a three-week high, with private-sector lenders leading gains, a day&nbsp;after&nbsp;the central bank raised its policy rate for the first time in more than four years.

Spreadbetters expected the firmer tone in equities to carry over into&nbsp;Europe, forecasting a higher open for Britain's FTSE, Germany's DAX and France's CAC.

"Quite clearly, it was the&nbsp;euro's day," said Marshall Gittler, chief strategist at ACLS&nbsp;Global. "Aside from the&nbsp;euro, the main theme in the market was back to risk-on."

The&nbsp;euro&nbsp;held near a two-week high while the yield on Germany's benchmark 10-year bond&nbsp;hit&nbsp;its own two-week high of 0.486 per cent on growing conviction the&nbsp;European Central Bank would announce as early as next week its intention to end a drawn-out stimulus programme by year-end.

The 10-year US&nbsp;Treasury yield&nbsp;hit&nbsp;a fresh 1-1/2-week peak of 2.985 per cent.

ECB&nbsp;Chief Economist Peter Praet said on Wednesday that robust growth made the central bank increasingly confident that inflation is on its way back to target, raising the chances it may use next week's meeting next week to reveal more about the end of its bond-buying program.

Praet's&nbsp;comments&nbsp;sent the&nbsp;euro&nbsp;to $1.1796, its highest level since May 22, on Wednesday. The common currency last traded up 0.1 per cent at $1.1789. The dollar index was down 0.1 per cent to 93.525.

Worries over the effects of reduced&nbsp;ECB&nbsp;bond buying triggered a broad sell-off in German Bunds and other&nbsp;European government debt, which spilled over to Treasuries, analysts said.

Higher&nbsp;yields&nbsp;helped to lift S&P 500 financials, which rose 1.8 per cent and were the biggest percentage gainer among S&P 500 sectors.

"The US&nbsp;10 year Treasury yield rose alongside its&nbsp;eurozone peers overnight, while US&nbsp;stocks rallied, reflecting a risk-on attitude among investors," said Makoto Noji, senior FX/bond strategist at SMBC Nikko Securities.

White House economic adviser Larry Kudlow said late on Wednesday that US&nbsp;President Donald Trump would meet French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau at the G7 summit this week.

Although Kudlow said Trump would not back down from the tough line he has taken on trade, the comments&nbsp;appeared to calm investors.

The Dow Jones Industrial Average rose 1.4 per cent to 25,146.39, the S&P 500 gained 0.86 per cent to 2,772.35 and the Nasdaq Composite added 0.67 per cent to&nbsp;hit&nbsp;its record closing high of 7,689.24.

Oil prices rose on Thursday to shake off some of the previous session's losses, supported by plunging exports from OPEC-member Venezuela.

Brent crude futures last traded at $75.84 a barrel and US&nbsp;West Texas Intermediate (WTI) crude at 65.04, rising 0.6 per cent and 0.5 per cent on the day, respectively.

Copper&nbsp;hit&nbsp;a five-month high of $7,278.50 per tonne, though the gains were driven more by supply concerns in Chile than by stronger demand.

Market participants, wary of event risk, are monitoring developments ahead of the G7 summit later this week and the US-North Korea summit scheduled for next week.

India's broader NSE index rose to a three-week high, with private-sector lenders leading gains, a day after the central bank raised its policy rate for the first time in more than four years

Asian shares rose to a fresh 11-week high on Thursday, supported by sound economic fundamentals, while expectations the European Central Bank (ECB) may soon start to wind down its stimulus boosted the euro and global bond yields. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.5 per cent to extend its gains, hitting a 2-1/2-month high for a second straight day. Japan's Nikkei average rose 0.9 per cent. Notable gainers included technology-heavy Taiwanese stocks, with Taiwan's main index nearing the 27-year high of 11,270 hit on January 23. The index has rallied 4.25 per cent since last Wednesday, boosted by the rally in tech stocks and the Nasdaq. India's broader NSE index rose to a three-week high, with private-sector lenders leading gains, a day after the central bank raised its policy rate for the first time in more than four years. Spreadbetters expected the firmer tone in equities to carry over into Europe, forecasting a higher open for Britain's FTSE, Germany's DAX and France's CAC. "Quite clearly, it was the euro's day," said Marshall Gittler, chief strategist at ACLS Global. "Aside from the euro, the main theme in the market was back to risk-on." The euro held near a two-week high while the yield on Germany's benchmark 10-year bond hit its own two-week high of 0.486 per cent on growing conviction the European Central Bank would announce as early as next week its intention to end a drawn-out stimulus programme by year-end. The 10-year US Treasury yield hit a fresh 1-1/2-week peak of 2.985 per cent. ECB Chief Economist Peter Praet said on Wednesday that robust growth made the central bank increasingly confident that inflation is on its way back to target, raising the chances it may use next week's meeting next week to reveal more about the end of its bond-buying program. Praet's comments sent the euro to $1.1796, its highest level since May 22, on Wednesday. The common currency last traded up 0.1 per cent at $1.1789. The dollar index was down 0.1 per cent to 93.525. Worries over the effects of reduced ECB bond buying triggered a broad sell-off in German Bunds and other European government debt, which spilled over to Treasuries, analysts said. Higher yields helped to lift S&P 500 financials, which rose 1.8 per cent and were the biggest percentage gainer among S&P 500 sectors. "The US 10 year Treasury yield rose alongside its eurozone peers overnight, while US stocks rallied, reflecting a risk-on attitude among investors," said Makoto Noji, senior FX/bond strategist at SMBC Nikko Securities. White House economic adviser Larry Kudlow said late on Wednesday that US President Donald Trump would meet French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau at the G7 summit this week. Although Kudlow said Trump would not back down from the tough line he has taken on trade, the comments appeared to calm investors. The Dow Jones Industrial Average rose 1.4 per cent to 25,146.39, the S&P 500 gained 0.86 per cent to 2,772.35 and the Nasdaq Composite added 0.67 per cent to hit its record closing high of 7,689.24. Oil prices rose on Thursday to shake off some of the previous session's losses, supported by plunging exports from OPEC-member Venezuela. Brent crude futures last traded at $75.84 a barrel and US West Texas Intermediate (WTI) crude at 65.04, rising 0.6 per cent and 0.5 per cent on the day, respectively. Copper hit a five-month high of $7,278.50 per tonne, though the gains were driven more by supply concerns in Chile than by stronger demand. Market participants, wary of event risk, are monitoring developments ahead of the G7 summit later this week and the US-North Korea summit scheduled for next week.

Global Markets: Asian shares hit 11-week high; euro, yields rise after ECB comments

Billionaire investor Warren&nbsp;Buffett&nbsp;and JPMorgan Chase Chief Executive Jamie&nbsp;Dimon voiced concerns that the financial markets' focus on short-term goals is hurting the&nbsp;economy&nbsp;and urged companies to move away from providing&nbsp;quarterly&nbsp;earnings guidance, according to the Wall Street Journal.

The pressure to meet short-term estimates has contributed to a fall in the number of US&nbsp;public companies, wrote&nbsp;Buffett, chairman of Berkshire Hathaway Inc, and&nbsp;Dimon, who is also the chairman of top executives' lobbying group Business Roundtable, in an article on Wednesday.

Short-term-oriented capital markets have discouraged companies with a longer-term view from going public at all, depriving the&nbsp;economy&nbsp;of innovation and opportunity, he said.

"In our experience,&nbsp;quarterly&nbsp;earnings guidance often leads to an unhealthy focus on short-term profits at the expense of long-term strategy, growth and sustainability," they wrote.

Companies often hold back spending on technology, hiring and research and development to meet&nbsp;quarterly&nbsp;earnings guidance that may be affected by factors outside the company's control, the business leaders wrote.

More than 100 million Americans invest in public companies directly or through mutual funds and millions more participate in corporate, public and union pension plans. Public companies owe it to all of them to get this right, they said.

Buffett&nbsp;and&nbsp;Dimon&nbsp;said they are not opposed to the current practice of&nbsp;quarterly&nbsp;and annual reporting that ensures transparency.

"Though publicly owned companies account for only about 4,300 of America's 28 million businesses, they are responsible for a third of all private-sector employment and half of all business capital spending. America's public companies drive job creation, opportunity and economic growth," they wrote.

Short-term-oriented capital markets have discouraged companies with a longer-term view from going public at all, depriving the economy of innovation and opportunity, he said

Billionaire investor Warren Buffett and JPMorgan Chase Chief Executive Jamie Dimon voiced concerns that the financial markets' focus on short-term goals is hurting the economy and urged companies to move away from providing quarterly earnings guidance, according to the Wall Street Journal. The pressure to meet short-term estimates has contributed to a fall in the number of US public companies, wrote Buffett, chairman of Berkshire Hathaway Inc, and Dimon, who is also the chairman of top executives' lobbying group Business Roundtable, in an article on Wednesday. Short-term-oriented capital markets have discouraged companies with a longer-term view from going public at all, depriving the economy of innovation and opportunity, he said. "In our experience, quarterly earnings guidance often leads to an unhealthy focus on short-term profits at the expense of long-term strategy, growth and sustainability," they wrote. Companies often hold back spending on technology, hiring and research and development to meet quarterly earnings guidance that may be affected by factors outside the company's control, the business leaders wrote. More than 100 million Americans invest in public companies directly or through mutual funds and millions more participate in corporate, public and union pension plans. Public companies owe it to all of them to get this right, they said. Buffett and Dimon said they are not opposed to the current practice of quarterly and annual reporting that ensures transparency. "Though publicly owned companies account for only about 4,300 of America's 28 million businesses, they are responsible for a third of all private-sector employment and half of all business capital spending. America's public companies drive job creation, opportunity and economic growth," they wrote.

Buffett, Dimon say quarterly profit forecasts harming economy

Weak demand from domestic and eurozone clients led to a fourth straight monthly drop in&nbsp;German&nbsp;industrial&nbsp;orders&nbsp;in April, suggesting factories in Europe's largest economy will shift into a lower gear over coming months.

Contracts for&nbsp;German&nbsp;goods were down 2.5 per cent from March after a downwardly revised drop of 1.1 per cent the previous month, Thursday's Federal Statistics Office data showed.

The April reading significantly undershot a Reuters poll of analysts, who had predicted a 0.8 per cent rise.

DIHK economist Sophia Krietenbrink said it might signal a loss of economic momentum despite the fact that order backlogs at&nbsp;German&nbsp;manufacturers were still high.

"Trade&nbsp;conflicts, in particular, are causing considerable uncertainty from outside," she said.

The decline was driven by a drop in domestic demand, though&nbsp;orders&nbsp;from clients in other eurozone countries also fell.

A sector breakdown of the figures showed demand for capital and consumer goods fell while demand for intermediate goods rose.

The release followed a string of strong economic data that included retail sales posting a bigger-than-expected jump in April, unemployment reaching a record low in May and business morale steadying despite the threat of a global&nbsp;trade&nbsp;war.

Germany's VDMA industry association said on Wednesday that engineering&nbsp;orders&nbsp;had jumped 12 per cent in April compared to a year before, with surging domestic demand offsetting a drop in contracts from eurozone partners.

The&nbsp;German&nbsp;economy grew 0.3 per cent on the quarter in the first three months of the year and is expected to pick up speed in the April-June period. For 2018 as a whole, the government forecasts 2.3 per cent growth.

DIHK economist Sophia Krietenbrink said it might signal a loss of economic momentum despite the fact that order backlogs at German manufacturers were still high

Weak demand from domestic and eurozone clients led to a fourth straight monthly drop in German industrial orders in April, suggesting factories in Europe's largest economy will shift into a lower gear over coming months. Contracts for German goods were down 2.5 per cent from March after a downwardly revised drop of 1.1 per cent the previous month, Thursday's Federal Statistics Office data showed. The April reading significantly undershot a Reuters poll of analysts, who had predicted a 0.8 per cent rise. DIHK economist Sophia Krietenbrink said it might signal a loss of economic momentum despite the fact that order backlogs at German manufacturers were still high. "Trade conflicts, in particular, are causing considerable uncertainty from outside," she said. The decline was driven by a drop in domestic demand, though orders from clients in other eurozone countries also fell. A sector breakdown of the figures showed demand for capital and consumer goods fell while demand for intermediate goods rose. The release followed a string of strong economic data that included retail sales posting a bigger-than-expected jump in April, unemployment reaching a record low in May and business morale steadying despite the threat of a global trade war. Germany's VDMA industry association said on Wednesday that engineering orders had jumped 12 per cent in April compared to a year before, with surging domestic demand offsetting a drop in contracts from eurozone partners. The German economy grew 0.3 per cent on the quarter in the first three months of the year and is expected to pick up speed in the April-June period. For 2018 as a whole, the government forecasts 2.3 per cent growth.

German industrial orders plunge as trade war fears weigh

Country's largest carmaker Maruti Suzuki India (MSI) today said it is investing in new technologies to further reduce carbon dioxide (CO2) emissions per vehicle.

The company said it is also in the process of aligning with stringent EU norms for classification, labelling and packaging of chemical substances besides adopting VCI Packaging (Volatile Corrosion Inhibitors) guidelines for packaging materials.

"Maruti Suzuki is working systematically to reduce vehicle emissions and the impact of manufacturing on the environment... Going forward, we will continue our focus on investing in new technologies and further bring down CO2 emissions per vehicle," MSI Managing Director and CEO Kenichi Ayukawa said in a statement.

As part of company's efforts to use renewable source of energy, MSI plans to install a 5 MW solar power plant at its Gurgaon campus this fiscal, he added.

"At Manesar, our existing 1 MW solar power plant will be complemented by an additional 0.5 MW solar plant," Ayukawa said.

MSI said its Heartect platform helps to lower CO2 emissions between 6 to 8 per cent. Models like the Baleno, Ignis, Swift and Dzire have been built on the new platform.

It claimed to have reduced an estimated over 8.3 lakh tonnes of CO2 emission over the past decade through introduction of CNG, LPG and smart hybrid vehicles.&nbsp;

The company currently has over 50 per cent market share in the domestic passenger vehicle segment.

The company further said it has reduced water consumption per vehicle manufactured by 6 per cent as compared to the previous year at its manufacturing plants in 2017-18.&nbsp;

Besides, there is 1 per cent reduction in CO2 emission while manufacturing every vehicle over the past year, MSI claimed.

"The company will soon adopt international material data capturing system to study parameters like ASR (Automotive Shredder Residue), RRR (Reuse, Recycle and Recover) and substances of concern (like Pb, Hg, Cd, Cr) across all models so that prohibited substances can be identified and eliminated. This initiative will strengthen end of life system (ELV) for vehicles," MSI said.

For exports, the company will align with the European Union system of classification, labelling and packaging of chemical substances and adopt VCI Packaging (Volatile Corrosion Inhibitors) guidelines for packaging materials.

By aligning with EU norms the disclosures on components will be comprehensive, it said.

As part of company's efforts to use renewable source of energy, MSI plans to install a 5 MW solar power plant at its Gurgaon campus

Country's largest carmaker Maruti Suzuki India (MSI) today said it is investing in new technologies to further reduce carbon dioxide (CO2) emissions per vehicle. The company said it is also in the process of aligning with stringent EU norms for classification, labelling and packaging of chemical substances besides adopting VCI Packaging (Volatile Corrosion Inhibitors) guidelines for packaging materials. "Maruti Suzuki is working systematically to reduce vehicle emissions and the impact of manufacturing on the environment... Going forward, we will continue our focus on investing in new technologies and further bring down CO2 emissions per vehicle," MSI Managing Director and CEO Kenichi Ayukawa said in a statement. As part of company's efforts to use renewable source of energy, MSI plans to install a 5 MW solar power plant at its Gurgaon campus this fiscal, he added. "At Manesar, our existing 1 MW solar power plant will be complemented by an additional 0.5 MW solar plant," Ayukawa said. MSI said its Heartect platform helps to lower CO2 emissions between 6 to 8 per cent. Models like the Baleno, Ignis, Swift and Dzire have been built on the new platform. It claimed to have reduced an estimated over 8.3 lakh tonnes of CO2 emission over the past decade through introduction of CNG, LPG and smart hybrid vehicles. The company currently has over 50 per cent market share in the domestic passenger vehicle segment. The company further said it has reduced water consumption per vehicle manufactured by 6 per cent as compared to the previous year at its manufacturing plants in 2017-18. Besides, there is 1 per cent reduction in CO2 emission while manufacturing every vehicle over the past year, MSI claimed. "The company will soon adopt international material data capturing system to study parameters like ASR (Automotive Shredder Residue), RRR (Reuse, Recycle and Recover) and substances of concern (like Pb, Hg, Cd, Cr) across all models so that prohibited substances can be identified and eliminated. This initiative will strengthen end of life system (ELV) for vehicles," MSI said. For exports, the company will align with the European Union system of classification, labelling and packaging of chemical substances and adopt VCI Packaging (Volatile Corrosion Inhibitors) guidelines for packaging materials. By aligning with EU norms the disclosures on components will be comprehensive, it said.

Maruti 'investing' in new technologies to bring down CO2 emissions

The BSE Sensex rebounded over 69 points in opening trade, breaking its three-day losing run, ahead of the RBI's bi-monthly policy meet outcome due later in the day. 
 
The 30-share index recovered by 69.38 points, or 0.19 per cent, to 34,972.59. It had lost 419.17 points in the previous three sessions.

Sectoral indices led by FMCG, auto, metal, IT and capital goods rose by up to 0.30 per cent. 
 
The NSE Nifty also went up by 22.65 points, or 0.21 per cent, to 10,615.80.

Brokers said investors were seen raising their bets ahead of the monetary policy announcement. 
 
Besides, a mixed trend at other Asian bourses influenced the trading sentiment in the domestic market. 
 
Shares of Bharti Airtel, Coal India, L&T, Tata Motors, M&M, Adani Ports, ITC, Sun Pharma, Bajaj Auto, Maruti Suzuki, Power Grid and Infosys climbed up to 1.48 per cent. 
 
Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 474.33 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 157.51 crore yesterday, as per provisional data. 
 
Among other Asian markets, Japan's Nikkei rose 0.19 per cent, while Hong Kong's Hang Seng edged up 0.31 per cent in their early trade. However, Shanghai Composite Index shed 0.15 per cent. 
 
The US Dow Jones Industrial Average ended 0.06 per cent lower in yesterday's trade.&nbsp;

Sectoral indices led by FMCG, auto, metal, IT and capital goods rose by up to 0.30 per cent

The BSE Sensex rebounded over 69 points in opening trade, breaking its three-day losing run, ahead of the RBI's bi-monthly policy meet outcome due later in the day. The 30-share index recovered by 69.38 points, or 0.19 per cent, to 34,972.59. It had lost 419.17 points in the previous three sessions. Sectoral indices led by FMCG, auto, metal, IT and capital goods rose by up to 0.30 per cent. The NSE Nifty also went up by 22.65 points, or 0.21 per cent, to 10,615.80. Brokers said investors were seen raising their bets ahead of the monetary policy announcement. Besides, a mixed trend at other Asian bourses influenced the trading sentiment in the domestic market. Shares of Bharti Airtel, Coal India, L&T, Tata Motors, M&M, Adani Ports, ITC, Sun Pharma, Bajaj Auto, Maruti Suzuki, Power Grid and Infosys climbed up to 1.48 per cent. Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 474.33 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 157.51 crore yesterday, as per provisional data. Among other Asian markets, Japan's Nikkei rose 0.19 per cent, while Hong Kong's Hang Seng edged up 0.31 per cent in their early trade. However, Shanghai Composite Index shed 0.15 per cent. The US Dow Jones Industrial Average ended 0.06 per cent lower in yesterday's trade.

Market opens higher ahead of RBI policy decision

Qatar Airways will “soon” move an application to launch a full-service airline in India for domestic operations, according to its chief Akbar Al Baker.

He said the proposed airline would be fully financed by Qatar's sovereign fund. It would have Indians heading the board and as most of its members.

Baker, who has been Qatar Airways' Group Chief Executive for over two decades, was elected as the Chairman of the Board of Governors of the International Air Transport Association (IATA) on Tuesday.

"We will move the application soon. I don't know really by when because it (the process) takes time,” he told PTI on the sidelines of the IATA Annual General Meeting here when asked by when the application for a licence would be moved.

Noting that the process is on track, he said the proposed carrier in India would be a full-service one and the investment would be done from the sovereign fund of Qatar's official investment arm.

Qatar Investment Authority manages the sovereign wealth fund of the State of Qatar. It was set up in 2005 to manage the oil and natural gas surpluses and its assets under management are estimated at USD 335 billion, a lot of which have been invested overseas for a variety of purposes.

It was in March 2017 that Baker first mentioned about its plans for a carrier in India.

In February this year, he had said it plans to launch an airline in India with at least 100 planes.

"I will not tell you what types of aeroplanes we will deploy in India but as you may remember we said that we will launch an airline in India which will have a fleet of at least 100 aircraft," he had said.

Last December, the airline had said it would like to add more flights to India in the future as the country is an economic superpower and an important destination for it.

India has permitted foreign investors, barring foreign airlines, from owning up to 100 per cent stake in local carriers. While a foreign airline can hold up to 49 per cent stake, foreign investment arms can own the remaining part.

Currently, there are three full-service carriers in India -- Air India, Jet Airways and Vistara Airlines.

Al Baker became Qatar Airways' Group Chief Executive in 1997.

Qatar Airways operates more than 200 aircraft and flies to over 150 destinations across six continents, as per the airline's website.

Baker, who has been Qatar Airways' Group Chief Executive for over two decades, was elected as the Chairman of the Board of Governors of the International Air Transport Association (IATA) on Tuesday.

Qatar Airways will “soon” move an application to launch a full-service airline in India for domestic operations, according to its chief Akbar Al Baker. He said the proposed airline would be fully financed by Qatar's sovereign fund. It would have Indians heading the board and as most of its members. Baker, who has been Qatar Airways' Group Chief Executive for over two decades, was elected as the Chairman of the Board of Governors of the International Air Transport Association (IATA) on Tuesday. "We will move the application soon. I don't know really by when because it (the process) takes time,” he told PTI on the sidelines of the IATA Annual General Meeting here when asked by when the application for a licence would be moved. Noting that the process is on track, he said the proposed carrier in India would be a full-service one and the investment would be done from the sovereign fund of Qatar's official investment arm. Qatar Investment Authority manages the sovereign wealth fund of the State of Qatar. It was set up in 2005 to manage the oil and natural gas surpluses and its assets under management are estimated at USD 335 billion, a lot of which have been invested overseas for a variety of purposes. It was in March 2017 that Baker first mentioned about its plans for a carrier in India. In February this year, he had said it plans to launch an airline in India with at least 100 planes. "I will not tell you what types of aeroplanes we will deploy in India but as you may remember we said that we will launch an airline in India which will have a fleet of at least 100 aircraft," he had said. Last December, the airline had said it would like to add more flights to India in the future as the country is an economic superpower and an important destination for it. India has permitted foreign investors, barring foreign airlines, from owning up to 100 per cent stake in local carriers. While a foreign airline can hold up to 49 per cent stake, foreign investment arms can own the remaining part. Currently, there are three full-service carriers in India -- Air India, Jet Airways and Vistara Airlines. Al Baker became Qatar Airways' Group Chief Executive in 1997. Qatar Airways operates more than 200 aircraft and flies to over 150 destinations across six continents, as per the airline's website.

Qatar Airways will soon apply to launch airline in India: CEO

The BSE benchmark Sensex slipped below the key 35,000-mark in early trade today following losses in banking, power, realty and capital goods stocks.

Investors are cautious ahead of RBI's policy decision due&nbsp;tomorrow, brokers said.

The RBI's Monetary Policy Committee began its three-day meeting yesterday amid speculation that it may hike the key interest rate for the first time in over four years on account of firming inflation.

The 30-share index, which had lost 310.49 points in the previous two sessions, fell further by 101.70 points, or 0.29 per cent, to 34,910.19.

Sectoral indices led by power, banking, realty, capital goods and PSU declined up to 1.20 per cent.

The NSE Nifty also shed 33.55 points, or 0.32 per cent, to 10,594.95.

Shares of Powr Grid, Yes Bank, Bharti Airtel, Dr Reddy's, Infosys, Hero MotoCorp, L&T, HUL, Axis Bank, Bajaj Auto, HDFC Ltd and NTPC were trading in the negative zone with losses of up to 2.41 per cent.

Meanwhile, domestic institutional investors (DIIs) sold shares worth a net Rs 712.41 crore, while foreign portfolio investors (FPIs) bought shares worth Rs 2,354.03 crore yesterday, as per provisional data released by the stock exchanges.

Among other Asian markets, Hong Kong's Hang Seng fell 0.05 per cent, while Japan's Nikkei was up 0.12 per cent in early trade. Shanghai Composite Index also rose 0.02 per cent.

The US Dow Jones Industrial Average ended 0.72 per cent higher in yesterday's trade.

The RBI's Monetary Policy Committee began its three-day meeting yesterday amid speculation that it may hike the key interest rate for the first time in over four years on account of firming inflation

The BSE benchmark Sensex slipped below the key 35,000-mark in early trade today following losses in banking, power, realty and capital goods stocks. Investors are cautious ahead of RBI's policy decision due tomorrow, brokers said. The RBI's Monetary Policy Committee began its three-day meeting yesterday amid speculation that it may hike the key interest rate for the first time in over four years on account of firming inflation. The 30-share index, which had lost 310.49 points in the previous two sessions, fell further by 101.70 points, or 0.29 per cent, to 34,910.19. Sectoral indices led by power, banking, realty, capital goods and PSU declined up to 1.20 per cent. The NSE Nifty also shed 33.55 points, or 0.32 per cent, to 10,594.95. Shares of Powr Grid, Yes Bank, Bharti Airtel, Dr Reddy's, Infosys, Hero MotoCorp, L&T, HUL, Axis Bank, Bajaj Auto, HDFC Ltd and NTPC were trading in the negative zone with losses of up to 2.41 per cent. Meanwhile, domestic institutional investors (DIIs) sold shares worth a net Rs 712.41 crore, while foreign portfolio investors (FPIs) bought shares worth Rs 2,354.03 crore yesterday, as per provisional data released by the stock exchanges. Among other Asian markets, Hong Kong's Hang Seng fell 0.05 per cent, while Japan's Nikkei was up 0.12 per cent in early trade. Shanghai Composite Index also rose 0.02 per cent. The US Dow Jones Industrial Average ended 0.72 per cent higher in yesterday's trade.

Sensex down 102 points in cautious trade

Petrol prices today were slashed by 15 paise in all metro cities - Delhi, Kolkata, Mumbai, and Chennai. This is the sixth straight cut in fuel prices in just a week.&nbsp

Today's petrol price in Delhi is Rs 77.96, in Kolkata Rs 80.60, in Mumbai Rs 85.77, and in Chennai Rs 80.94. Diesel price has also seen a marginal cut of 14 paise to Rs 68.97 in the national capital.&nbsp

Yesterday, petrol price was down by 9 paise. However, diesel price was kept unchanged.

In last six days, petrol price in Delhi has come down by 47 paise from its record high of Rs 78.43 on May 29.&nbsp

Before reducing the prices, oil marketing companies had hiked the fuel cost for 16 consecutive days - from May 13 to May 29, petrol price was raised by Rs 3.8 and diesel by Rs 3.38 per litre.

In last six days, petrol price in Delhi has come down by 47 paise from its record high of Rs 78.43 on May 29.

Petrol prices today were slashed by 15 paise in all metro cities - Delhi, Kolkata, Mumbai, and Chennai. This is the sixth straight cut in fuel prices in just a week. Today's petrol price in Delhi is Rs 77.96, in Kolkata Rs 80.60, in Mumbai Rs 85.77, and in Chennai Rs 80.94. Diesel price has also seen a marginal cut of 14 paise to Rs 68.97 in the national capital. Yesterday, petrol price was down by 9 paise. However, diesel price was kept unchanged. In last six days, petrol price in Delhi has come down by 47 paise from its record high of Rs 78.43 on May 29. Before reducing the prices, oil marketing companies had hiked the fuel cost for 16 consecutive days - from May 13 to May 29, petrol price was raised by Rs 3.8 and diesel by Rs 3.38 per litre.

Petrol prices cut for the sixth straight day by 15 paise, diesel by 14 paise