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Chinese smartphone-making giant OnePlus will make its recently launched device, OnePlus 6, available in Indian markets today. The flagship device will be on sale in India on OnePlus official website and on Amazon India.&nbsp;

OnePlus 6 online sale

For online customers, the device will be available at 12 pm IST on Amazon India in an 'Early Access'&nbsp;sale. The sale is limited to Amazon Prime members only, however, customers can also buy the phone from OnePlus official website. An open-to-all OnePlus 6 sale will start from May 22.

OnePlus 6 pop-up stores sale

The phone will also be available at pop-up stores across 8 cities including Pune, Chennai, Mumbai, Delhi, Kolkata, Ahmedabad, Bengaluru and Hyderabad at select locations. The sale at pop-up stores will be between 3.30 pm and 8 pm on May 21 and between 11 am and 7 pm on May 22. Croma stores all over India will have the device on offer from May 22.&nbsp;

OnePlus 6 key specifications and price

OnePlus 6 can pack in dual-SIM (Nano) and is powered by Qualcomm Snapdragon 845 SoC. It runs on OxygenOS 5.1 based on Android 8.1 Oreo.&nbsp;

The smartphone sports a 6.28-inch full-HD+ (1080x2280 pixels) Full Optic AMOLED display with a 19:9 aspect ratio. The device is Gorilla Glass 5 protected and comes in three colour options.&nbsp;

For those who love taking pictures, OnePlus 6 comes with a primary 16-megapixel Sony IMX519 sensor with f/1.7 aperture and a 20-megapixel secondary sensor in the front. The rear cameras come with dual-LED flash.

The handset comes studded with features like slow motion video recording, &nbsp;in-device video editing, face-unlock feature, among other specifications.

OnePlus 6 thrives on a 3300mAh battery and starts at Rs. 34,999 for the 6GBRAM/ 64 GB internal storage variant. The device comes in three storage options -- 64GB, 128GB, and 256GB -- which are not expandable via microSD card. The 8GB RAM/ 128GB variant is available in India at Rs. 39,999.&nbsp;

For online customers, the device will be available at 12 pm IST on Amazon India in an Early Access sale

Chinese smartphone-making giant OnePlus will make its recently launched device, OnePlus 6, available in Indian markets today. The flagship device will be on sale in India on OnePlus official website and on Amazon India. OnePlus 6 online sale For online customers, the device will be available at 12 pm IST on Amazon India in an 'Early Access' sale. The sale is limited to Amazon Prime members only, however, customers can also buy the phone from OnePlus official website. An open-to-all OnePlus 6 sale will start from May 22. OnePlus 6 pop-up stores sale The phone will also be available at pop-up stores across 8 cities including Pune, Chennai, Mumbai, Delhi, Kolkata, Ahmedabad, Bengaluru and Hyderabad at select locations. The sale at pop-up stores will be between 3.30 pm and 8 pm on May 21 and between 11 am and 7 pm on May 22. Croma stores all over India will have the device on offer from May 22. OnePlus 6 key specifications and price OnePlus 6 can pack in dual-SIM (Nano) and is powered by Qualcomm Snapdragon 845 SoC. It runs on OxygenOS 5.1 based on Android 8.1 Oreo. The smartphone sports a 6.28-inch full-HD+ (1080x2280 pixels) Full Optic AMOLED display with a 19:9 aspect ratio. The device is Gorilla Glass 5 protected and comes in three colour options. For those who love taking pictures, OnePlus 6 comes with a primary 16-megapixel Sony IMX519 sensor with f/1.7 aperture and a 20-megapixel secondary sensor in the front. The rear cameras come with dual-LED flash. The handset comes studded with features like slow motion video recording, in-device video editing, face-unlock feature, among other specifications. OnePlus 6 thrives on a 3300mAh battery and starts at Rs. 34,999 for the 6GBRAM/ 64 GB internal storage variant. The device comes in three storage options -- 64GB, 128GB, and 256GB -- which are not expandable via microSD card. The 8GB RAM/ 128GB variant is available in India at Rs. 39,999.

OnePlus 6 to be available in 'Early Access' sale on Amazon India today

Gold slid to a near five-month low&nbsp;on Monday, as the dollar rose and demand for safe-haven assets eased after US&nbsp;Treasury Secretary Steven Mnuchin said a trade war between China and the United States was "on hold".

Spot gold was down 0.6 percent at $1,283.30 per ounce at 0658 GMT, after earlier hitting $1,281.76, its lowest since&nbsp;December 27.

US&nbsp;gold futures for June delivery were 0.7 percent lower at $1,282.50.

"Gold price is under pressure as the dollar maintains its strength," said Naeem Aslam, chief markets analyst at Think Markets.

"'On Hold' is a risk-on term...The absence of trade tariffs and hostile tone between the two countries has also impacted the gold price more adversely," Aslam said.

The dollar rose versus the yen and hit five months high against a basket of currencies, after Mnuchin's comments downplaying a trade dispute with China, boosting risk sentiment amid hopes for an easing of trade tensions between the world's two biggest economies.

Chinese state media&nbsp;on Monday&nbsp;praised a significant dialing back of trade tension with the US, saying China had stood its ground and the two countries had huge potential for win-win business cooperation.

"You have this combination of technical factors which is at the moment un-supportive (for gold). As long as the dollar is on the firm side, gold is under pressure," said Dominic Schnider at UBS Wealth Management in Hong Kong.

The price of gold fell below the psychologically important $1,300 per ounce level last week for the first time since late December and has since continued to trade below its 200-day moving average.

A stronger dollar makes dollar-denominated gold more expensive for holders using other currencies. Furthermore, rising US&nbsp;interest rates, and the expectation that US&nbsp;Federal Reserve will raise rates again next month, limits investor demand for non-yielding bullion.

"Investors are looking towards the biggest event of this week- the FOMC minutes and if the Fed doesn't tame its hawkish stance, we would expect more weakness in the gold price," Aslam said.

Hedge funds and money managers cut their net long position in COMEX gold contracts by 21,294 contracts to 31,327 in the week to May 15, data showed&nbsp;on Friday.

In other precious metals, silver fell 0.8 percent to $16.30 an ounce.

Platinum was 0.4 percent lower at $879 an ounce, after marking an over five-month low at $874 earlier.

Palladium rose 0.5 percent at $968.30 per ounce, after hitting a two-week low at $960.22&nbsp;on Friday.

The dollar rose versus the yen and hit a five-month-high against a basket of currencies

Gold slid to a near five-month low on Monday, as the dollar rose and demand for safe-haven assets eased after US Treasury Secretary Steven Mnuchin said a trade war between China and the United States was "on hold". Spot gold was down 0.6 percent at $1,283.30 per ounce at 0658 GMT, after earlier hitting $1,281.76, its lowest since December 27. US gold futures for June delivery were 0.7 percent lower at $1,282.50. "Gold price is under pressure as the dollar maintains its strength," said Naeem Aslam, chief markets analyst at Think Markets. "'On Hold' is a risk-on term...The absence of trade tariffs and hostile tone between the two countries has also impacted the gold price more adversely," Aslam said. The dollar rose versus the yen and hit five months high against a basket of currencies, after Mnuchin's comments downplaying a trade dispute with China, boosting risk sentiment amid hopes for an easing of trade tensions between the world's two biggest economies. Chinese state media on Monday praised a significant dialing back of trade tension with the US, saying China had stood its ground and the two countries had huge potential for win-win business cooperation. "You have this combination of technical factors which is at the moment un-supportive (for gold). As long as the dollar is on the firm side, gold is under pressure," said Dominic Schnider at UBS Wealth Management in Hong Kong. The price of gold fell below the psychologically important $1,300 per ounce level last week for the first time since late December and has since continued to trade below its 200-day moving average. A stronger dollar makes dollar-denominated gold more expensive for holders using other currencies. Furthermore, rising US interest rates, and the expectation that US Federal Reserve will raise rates again next month, limits investor demand for non-yielding bullion. "Investors are looking towards the biggest event of this week- the FOMC minutes and if the Fed doesn't tame its hawkish stance, we would expect more weakness in the gold price," Aslam said. Hedge funds and money managers cut their net long position in COMEX gold contracts by 21,294 contracts to 31,327 in the week to May 15, data showed on Friday. In other precious metals, silver fell 0.8 percent to $16.30 an ounce. Platinum was 0.4 percent lower at $879 an ounce, after marking an over five-month low at $874 earlier. Palladium rose 0.5 percent at $968.30 per ounce, after hitting a two-week low at $960.22 on Friday.

Gold hits five-month low as US trade war with China 'on hold'

Enthused by the successful conclusion of Bhushan Steel case, the finance ministry expects banks to write back more than Rs 1 lakh crore after the resolution of all 12 NPA cases referred to insolvency proceedings by the RBI &nbspits first list.

Last week, Tata Group acquired controlling stake of 72.65 per cent in the debt-ridden Bhushan Steel Ltd for around Rs 36,000 crore will help in cleansing the banking system as well as boost lenders profitability.

The remaining 11 NPA cases which are in the pipeline will easily bring to the table over Rs 1 lakh crore and the amount coming from resolution under the Insolvency and Bankruptcy Code (IBC) will directly add to the bottomline and help in reduction of NPAs of the public sector banks, a senior finance ministry official told PTI.

Last year in June, RBI's internal advisory committee (IAC) identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans and accounting for 25 per cent of total NPAs of banks.

Following the RBI's advisory, banks referred Bhushan Steel Ltd, Bhushan Power & Steel Ltd, Essar Steel Ltd, Jaypee Infratech Ltd, Lanco Infratech Ltd, Monnet Ispat & Energy Ltd, Jyoti Structures Ltd, Electrosteel Steels Ltd, Amtek Auto Ltd, Era Infra Engineering Ltd, Alok Industries Ltd and ABG Shipyard Ltd to NCLT. These accounts together have total outstanding loan of Rs 1.75 lakh crore.

The Kolkata Bench of the National Company Law Tribunal (NCLT) has already approved Vedanta Resources's resolution plan for acquisition of Electrosteel Steels last month.

Besides, the NCLT last month also asked the lenders of Bhushan Power & Steel to consider the bid submitted by UK-based Liberty House for the debt-ridden company.

Bhushan Power and Steel owes close to Rs 48,000 crore to banks and was referred to the NCLT by Punjab National Bank in June last year.

Last week, Bamnipal Steel Ltd (BNPL), a wholly-owned subsidiary of Tata Steel, has acquired 72.65 per cent stake in Bhushan Steel by paying around Rs 36,400 crore, of which Rs 35,200 crore will be paid to financial creditors.

The buy-out is expected to bring relief in the form of capital boost to PNB that was one of the leading lenders to the debt-ridden company, the bank said in a statement.

PNB in a statement said the bank had the second highest exposure to Bhushan Steel and will benefit greatly from this acquisition.

PNB sources say that the ledger outstanding to Bhushan Steel was Rs 3,857.49 crore while Rs 1,542.99 crore were earmarked for provisioning.

With this resolution, PNB's NPA will fall by Rs 3,857.49 crore. While the bank will recover Rs 3,050 crore of the outstanding amount it will also be able to write off Rs 807.49 crore from the provision it had held for this NPA.

The resolution will also have a direct impact on the bank's bottom-line this quarter.&nbsp

Sources say that this may have a positive effect on the bank's profitability to the tune of Rs 735.50 crore. On top of this, lenders including PNB will continue to own 12 per cent in the acquired entity giving them the opportunity to cash out later when the valuation of the company goes up.

With a current market capitalization of Rs 598 crore at the rate of Rs 27.75 per share for Bhushan Steel Ltd., the share for lenders that stands at nearly 12 per cent, works out to be Rs 72 crore.&nbsp

Another state-owned lender Bank of India (BoI) said it would be able to realise around Rs 1993 crore from the first successful NCLT resolution of Bhushan Steel.&nbsp

The remaining 11 NPA cases which are in the pipeline will easily bring to the table over Rs 1 lakh crore.

Enthused by the successful conclusion of Bhushan Steel case, the finance ministry expects banks to write back more than Rs 1 lakh crore after the resolution of all 12 NPA cases referred to insolvency proceedings by the RBI &nbspits first list. Last week, Tata Group acquired controlling stake of 72.65 per cent in the debt-ridden Bhushan Steel Ltd for around Rs 36,000 crore will help in cleansing the banking system as well as boost lenders profitability. The remaining 11 NPA cases which are in the pipeline will easily bring to the table over Rs 1 lakh crore and the amount coming from resolution under the Insolvency and Bankruptcy Code (IBC) will directly add to the bottomline and help in reduction of NPAs of the public sector banks, a senior finance ministry official told PTI. Last year in June, RBI's internal advisory committee (IAC) identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans and accounting for 25 per cent of total NPAs of banks. Following the RBI's advisory, banks referred Bhushan Steel Ltd, Bhushan Power & Steel Ltd, Essar Steel Ltd, Jaypee Infratech Ltd, Lanco Infratech Ltd, Monnet Ispat & Energy Ltd, Jyoti Structures Ltd, Electrosteel Steels Ltd, Amtek Auto Ltd, Era Infra Engineering Ltd, Alok Industries Ltd and ABG Shipyard Ltd to NCLT. These accounts together have total outstanding loan of Rs 1.75 lakh crore. The Kolkata Bench of the National Company Law Tribunal (NCLT) has already approved Vedanta Resources's resolution plan for acquisition of Electrosteel Steels last month. Besides, the NCLT last month also asked the lenders of Bhushan Power & Steel to consider the bid submitted by UK-based Liberty House for the debt-ridden company. Bhushan Power and Steel owes close to Rs 48,000 crore to banks and was referred to the NCLT by Punjab National Bank in June last year. Last week, Bamnipal Steel Ltd (BNPL), a wholly-owned subsidiary of Tata Steel, has acquired 72.65 per cent stake in Bhushan Steel by paying around Rs 36,400 crore, of which Rs 35,200 crore will be paid to financial creditors. The buy-out is expected to bring relief in the form of capital boost to PNB that was one of the leading lenders to the debt-ridden company, the bank said in a statement. PNB in a statement said the bank had the second highest exposure to Bhushan Steel and will benefit greatly from this acquisition. PNB sources say that the ledger outstanding to Bhushan Steel was Rs 3,857.49 crore while Rs 1,542.99 crore were earmarked for provisioning. With this resolution, PNB's NPA will fall by Rs 3,857.49 crore. While the bank will recover Rs 3,050 crore of the outstanding amount it will also be able to write off Rs 807.49 crore from the provision it had held for this NPA. The resolution will also have a direct impact on the bank's bottom-line this quarter. Sources say that this may have a positive effect on the bank's profitability to the tune of Rs 735.50 crore. On top of this, lenders including PNB will continue to own 12 per cent in the acquired entity giving them the opportunity to cash out later when the valuation of the company goes up. With a current market capitalization of Rs 598 crore at the rate of Rs 27.75 per share for Bhushan Steel Ltd., the share for lenders that stands at nearly 12 per cent, works out to be Rs 72 crore. Another state-owned lender Bank of India (BoI) said it would be able to realise around Rs 1993 crore from the first successful NCLT resolution of Bhushan Steel.

Finance ministry expects banks to get back over Rs 1 lakh crore with resolution of 12 major NPAs

Even as monsoon is predicted to be normal this year, its uneven distribution could spike food prices, and inflation is likely to edge further, says a report.

According to Dun & Bradstreet, rising fuel prices in India, which touched an all-time high, is likely to feed into other segments and keep the rate of inflation higher.

D&B expects CPI inflation to be in the range of 4.6-4.7 per cent and WPI inflation around 3.6-3.8 per cent this month.

"The assumption of a normal monsoon has been one of the primary factors considered for improvement in demand in the current year.&nbsp

"However, spatial distribution of rainfall needs to be monitored carefully before setting in firm expectations as uneven distribution of rainfall could flare up food inflation," said Arun Singh, Lead Economist D&B India.

Moreover, factors like geopolitical risks, escalating tensions in global trade, volatility in international crude oil prices and sharp depreciation in rupee underline the upside risk to inflation.

"Domestically, we look forward for the government to fulfil its commitment to revive investments, execute infrastructure projects and continue the policy momentum," Singh said.

The report further said the consistent growth clocked by the capital and infrastructure goods sector is likely to support the IIP growth rates going ahead.

D&B expects Index of Industrial Production (IIP) to have grown by 6.5-7.5 per cent during April this year.

The report further said the consistent growth clocked by the capital and infrastructure goods sector is likely to support the IIP growth rates going ahead.

Even as monsoon is predicted to be normal this year, its uneven distribution could spike food prices, and inflation is likely to edge further, says a report. According to Dun & Bradstreet, rising fuel prices in India, which touched an all-time high, is likely to feed into other segments and keep the rate of inflation higher. D&B expects CPI inflation to be in the range of 4.6-4.7 per cent and WPI inflation around 3.6-3.8 per cent this month. "The assumption of a normal monsoon has been one of the primary factors considered for improvement in demand in the current year. "However, spatial distribution of rainfall needs to be monitored carefully before setting in firm expectations as uneven distribution of rainfall could flare up food inflation," said Arun Singh, Lead Economist D&B India. Moreover, factors like geopolitical risks, escalating tensions in global trade, volatility in international crude oil prices and sharp depreciation in rupee underline the upside risk to inflation. "Domestically, we look forward for the government to fulfil its commitment to revive investments, execute infrastructure projects and continue the policy momentum," Singh said. The report further said the consistent growth clocked by the capital and infrastructure goods sector is likely to support the IIP growth rates going ahead. D&B expects Index of Industrial Production (IIP) to have grown by 6.5-7.5 per cent during April this year.

Uneven monsoon could spike food prices, inflation to edge higher: Report

Snapping a two-day falling streak, benchmark stock indices opened on a positive note today after BJP's BS Yeddyurappa was <a href="http://www.wionews.com/india-news/live-natak-in-karnataka-continues-both-sides-to-meet-governor-mlas-report-poaching-attempts-137278">sworn in</a> as the chief minister of Karnataka.

Unabated buying by domestic institutional investors set the tone, brokers said.

BJP legislature party leader B S Yeddyurappa was today sworn in as the chief minister of Karnataka for the second time, after an overnight high-voltage legal battle in the Supreme Court.

The 30-share Sensex bounced 122.13 points, or 0.34 per cent, to 35,510.01. It had lost 168.83 points in the previous two sessions.

All the sectoral indices, led by consumer durables, realty, metal, power and banking, were in the green.

The NSE Nifty also jumped 36.15 points, or 0.33 per cent, to 10,777.25.

Major movers in the Sensex kitty included Coal India, Power Grid, Wipro, SBI, Kotak Bank, Sun Pharma, ICICI Bank, TCS, Infosys, M&M, L&T and Maruti Suzuki, rising up to 1.79 per cent.

Tata Steel, however, fell 0.83 per cent despite the company yesterday reporting a consolidated net profit of Rs 14,688.02 crore for the fourth quarter ended March, 2018.

Domestic institutional investors (DIIs) bought shares worth a net Rs 229.06 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 699.22 crore yesterday, as per provisional data.

In the rest of Asia, Japan's Nikkei rose 0.44 per cent, Hong Kong's Hang Seng inched up 0.01 per cent, while Shanghai Composite Index shed 0.35 per cent in early deals.

The US Dow Jones Industrial Average ended 0.25 per cent higher yesterday as retailers results and solid economic data boosted confidence in the American economy.&nbsp

Snapping a two-day falling streak, benchmark stock indices opened on a positive note today after BJP's BS Yeddyurappa was sworn in as the chief minister of Karnataka

Snapping a two-day falling streak, benchmark stock indices opened on a positive note today after BJP's BS Yeddyurappa was sworn in as the chief minister of Karnataka. Unabated buying by domestic institutional investors set the tone, brokers said. BJP legislature party leader B S Yeddyurappa was today sworn in as the chief minister of Karnataka for the second time, after an overnight high-voltage legal battle in the Supreme Court. The 30-share Sensex bounced 122.13 points, or 0.34 per cent, to 35,510.01. It had lost 168.83 points in the previous two sessions. All the sectoral indices, led by consumer durables, realty, metal, power and banking, were in the green. The NSE Nifty also jumped 36.15 points, or 0.33 per cent, to 10,777.25. Major movers in the Sensex kitty included Coal India, Power Grid, Wipro, SBI, Kotak Bank, Sun Pharma, ICICI Bank, TCS, Infosys, M&M, L&T and Maruti Suzuki, rising up to 1.79 per cent. Tata Steel, however, fell 0.83 per cent despite the company yesterday reporting a consolidated net profit of Rs 14,688.02 crore for the fourth quarter ended March, 2018. Domestic institutional investors (DIIs) bought shares worth a net Rs 229.06 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 699.22 crore yesterday, as per provisional data. In the rest of Asia, Japan's Nikkei rose 0.44 per cent, Hong Kong's Hang Seng inched up 0.01 per cent, while Shanghai Composite Index shed 0.35 per cent in early deals. The US Dow Jones Industrial Average ended 0.25 per cent higher yesterday as retailers results and solid economic data boosted confidence in the American economy.

Sensex climbs 122 points after Yeddyurappa is sworn in

World's largest retailer Walmart today said its $16 billion investment in Flipkart may negatively impact its earnings per share (EPS) by $ 0.25-0.30 in fiscal year 2019, even though it remains "excited about what the future holds" in the fast-growing Indian e-commerce space.

"The company's investment in Flipkart... Is expected to negatively impact fiscal year 2019 EPS by approximately $0.25 to $ 0.30 if the transaction closes at the end of the second quarter," Walmart said in its earnings statement.

The US-based company has reported better-than-expected revenue numbers in the first quarter with total revenue growing 4.4 per cent to $122.7 billion. Its online sales grew 33 per cent in the said quarter and expects it to grow about 40 per cent for the full year.&nbsp

Walmart's net sales from international business grew 11.7 per cent to $ 30.3 billion in the said quarter. The diluted EPS stood at $0.72, while the adjusted EPS was at $1.14, the statement added.

The statement also noted the steps taken by the company during the quarter to reposition its portfolio of businesses. These include Walmart's investment in Flipkart, combining Sainsbury and Asda in the UK and divestment of banking operations in Walmart Canada and Walmart Chile.

On the deal with Flipkart in India, Walmart President and CEO Doug McMillon said e-commerce in India is growing rapidly and it expects the segment to grow at four times the rate of overall retail.

"Flipkart is already capturing a large portion of this growth and is well-positioned to accelerate into the future. So, this is an investment in a large, fast-growing country, with an innovative business positioned in the growth area of e-commerce... We're excited about what the future holds," he added.

After months of discussions, Walmart had announced the mega-deal to pick up 77 per cent stake in Flipkart Group holding company that is registered in Singapore. The transaction is subject to statutory approvals, including that of Competition Commission of India (CCI).&nbsp

The deal, which valued the Bengaluru-based company at $ 20.8 billion, is believed to be part of Walmart's strategy to strengthen presence in the Indian market and also compete head-on with global rival&nbspAmazon.&nbsp

Walmart's net sales from international business grew 11.7 per cent to $ 30.3 billion in the said quarter.

World's largest retailer Walmart today said its $16 billion investment in Flipkart may negatively impact its earnings per share (EPS) by $ 0.25-0.30 in fiscal year 2019, even though it remains "excited about what the future holds" in the fast-growing Indian e-commerce space. "The company's investment in Flipkart... Is expected to negatively impact fiscal year 2019 EPS by approximately $0.25 to $ 0.30 if the transaction closes at the end of the second quarter," Walmart said in its earnings statement. The US-based company has reported better-than-expected revenue numbers in the first quarter with total revenue growing 4.4 per cent to $122.7 billion. Its online sales grew 33 per cent in the said quarter and expects it to grow about 40 per cent for the full year. Walmart's net sales from international business grew 11.7 per cent to $ 30.3 billion in the said quarter. The diluted EPS stood at $0.72, while the adjusted EPS was at $1.14, the statement added. The statement also noted the steps taken by the company during the quarter to reposition its portfolio of businesses. These include Walmart's investment in Flipkart, combining Sainsbury and Asda in the UK and divestment of banking operations in Walmart Canada and Walmart Chile. On the deal with Flipkart in India, Walmart President and CEO Doug McMillon said e-commerce in India is growing rapidly and it expects the segment to grow at four times the rate of overall retail. "Flipkart is already capturing a large portion of this growth and is well-positioned to accelerate into the future. So, this is an investment in a large, fast-growing country, with an innovative business positioned in the growth area of e-commerce... We're excited about what the future holds," he added. After months of discussions, Walmart had announced the mega-deal to pick up 77 per cent stake in Flipkart Group holding company that is registered in Singapore. The transaction is subject to statutory approvals, including that of Competition Commission of India (CCI). The deal, which valued the Bengaluru-based company at $ 20.8 billion, is believed to be part of Walmart's strategy to strengthen presence in the Indian market and also compete head-on with global rival&nbspAmazon.

Flipkart deal may negatively impact EPS: Walmart

Twenty First Century Fox said on Wednesday Executive Chairman Lachlan Murdoch will serve as chairman and CEO of the proposed new Fox, following the sale of its film and TV assets to Walt Disney Co.

Rupert Murdoch will serve as co-chairman of the new Fox, and John Nallen, Fox's current chief financial officer, will assume the role of chief operating officer, the company said.

John Nallen, Fox's current chief financial officer, will assume the role of chief operating officer, the company said.

Twenty First Century Fox said on Wednesday Executive Chairman Lachlan Murdoch will serve as chairman and CEO of the proposed new Fox, following the sale of its film and TV assets to Walt Disney Co. Rupert Murdoch will serve as co-chairman of the new Fox, and John Nallen, Fox's current chief financial officer, will assume the role of chief operating officer, the company said.

Ruper Murdoch's son Lachlan to be CEO of new Fox

Facebook Inc said it took down 583 million fake profiles in the first three months of the year, usually within minutes of their creation.

The social network also scrubbed 837 million pieces of spam and acted on 2.5 million instances of hate speech, it said on Tuesday in its first-ever report on how effectively it’s enforcing community standards.

Responding to calls for transparency after the Cambridge Analytica data privacy scandal, Facebook said those closures came on top of blocking millions of attempts to create fake accounts every day.

Despite this, the group said fake profiles still make up 3-4 percent of all active accounts.

It claimed to detect almost 100 percent of spam and to have removed 837 million posts assimilated to spam over the same period.

Facebook pulled or slapped warnings on nearly 30 million posts containing sexual or violent images, terrorist propaganda or hate speech during the first quarter.

Improved technology using artificial intelligence had helped it act on 3.4 million posts containing graphic violence, nearly three times more than it had in the last quarter of 2017.

In 85.6 percent of the cases, Facebook detected the images before being alerted to them by users, said the report, issued the day after the company said about 200 apps had been suspended on its platform as part of an investigation into misuse of private user data.

The figure represents between 0.22 and 0.27 percent of the total content viewed by Facebook's more than two billion users from January through March.

"In other words, of every 10,000 content views, an estimate of 22 to 27 contained graphic violence," the report said.

Responses to rule violations include removing content, adding warnings to content that may be disturbing to some users while not violating Facebook standards and notifying law enforcement in case of a "specific, imminent and credible threat to human life".

Improved IT also helped Facebook take action against 1.9 million posts containing terrorist propaganda, a 73 percent increase. Nearly all were dealt with before any alert was raised, the company said.

It attributed the increase to the enhanced use of photodetection technology.

Hate speech is harder to police using automated methods, however, as racist or homophobic hate speech is often quoted on posts by their targets or activists.

- Sarcasm needs human touch -

"It may take a human to understand and accurately interpret nuances like... self-referential comments or sarcasm," the report said, noting that Facebook aims to "protect and respect both expression and personal safety".

Facebook took action against 2.5 million pieces of hate speech content during the period, a 56 increase over October-December. But only 38 percent had been detected through Facebook's efforts -- the rest flagged up by users.

The posts that keep the Facebook reviewers the busiest are those showing adult nudity or sexual activity -- quite apart from child pornography, which is not covered by the report.

Some 21 million such posts were handled in the period, a similar number to October-December 2017.

That was less than 0.1 percent of viewed content -- which includes text, images, videos, links, live videos or comments on posts -- Facebook said, adding it had dealt with nearly 96 percent of the cases before being alerted to them.

Facebook has come under fire for showing too much zeal on this front, such as removing images of artwork tolerated under its own rules.

In March, Facebook apologised for temporarily removing an advert featuring French artist Eugene Delacroix's famous work "Liberty Leading the People" because it depicts a bare-breasted woman.

Facebook's head of global policy management Monika Bicket &nbsp;said the group had kept a commitment to recruit 3,000 more staff to lift the numbers dedicated to enforcing standards to 7,500 at the start of this year.

(With inputs from AFP)

Responding to calls for transparency after the Cambridge Analytica data privacy scandal, Facebook said those closures came on top of blocking millions of attempts to create fake accounts every day.

Facebook Inc said it took down 583 million fake profiles in the first three months of the year, usually within minutes of their creation. The social network also scrubbed 837 million pieces of spam and acted on 2.5 million instances of hate speech, it said on Tuesday in its first-ever report on how effectively it’s enforcing community standards. Responding to calls for transparency after the Cambridge Analytica data privacy scandal, Facebook said those closures came on top of blocking millions of attempts to create fake accounts every day. Despite this, the group said fake profiles still make up 3-4 percent of all active accounts. It claimed to detect almost 100 percent of spam and to have removed 837 million posts assimilated to spam over the same period. Facebook pulled or slapped warnings on nearly 30 million posts containing sexual or violent images, terrorist propaganda or hate speech during the first quarter. Improved technology using artificial intelligence had helped it act on 3.4 million posts containing graphic violence, nearly three times more than it had in the last quarter of 2017. In 85.6 percent of the cases, Facebook detected the images before being alerted to them by users, said the report, issued the day after the company said about 200 apps had been suspended on its platform as part of an investigation into misuse of private user data. The figure represents between 0.22 and 0.27 percent of the total content viewed by Facebook's more than two billion users from January through March. "In other words, of every 10,000 content views, an estimate of 22 to 27 contained graphic violence," the report said. Responses to rule violations include removing content, adding warnings to content that may be disturbing to some users while not violating Facebook standards and notifying law enforcement in case of a "specific, imminent and credible threat to human life". Improved IT also helped Facebook take action against 1.9 million posts containing terrorist propaganda, a 73 percent increase. Nearly all were dealt with before any alert was raised, the company said. It attributed the increase to the enhanced use of photodetection technology. Hate speech is harder to police using automated methods, however, as racist or homophobic hate speech is often quoted on posts by their targets or activists. - Sarcasm needs human touch - "It may take a human to understand and accurately interpret nuances like... self-referential comments or sarcasm," the report said, noting that Facebook aims to "protect and respect both expression and personal safety". Facebook took action against 2.5 million pieces of hate speech content during the period, a 56 increase over October-December. But only 38 percent had been detected through Facebook's efforts -- the rest flagged up by users. The posts that keep the Facebook reviewers the busiest are those showing adult nudity or sexual activity -- quite apart from child pornography, which is not covered by the report. Some 21 million such posts were handled in the period, a similar number to October-December 2017. That was less than 0.1 percent of viewed content -- which includes text, images, videos, links, live videos or comments on posts -- Facebook said, adding it had dealt with nearly 96 percent of the cases before being alerted to them. Facebook has come under fire for showing too much zeal on this front, such as removing images of artwork tolerated under its own rules. In March, Facebook apologised for temporarily removing an advert featuring French artist Eugene Delacroix's famous work "Liberty Leading the People" because it depicts a bare-breasted woman. Facebook's head of global policy management Monika Bicket said the group had kept a commitment to recruit 3,000 more staff to lift the numbers dedicated to enforcing standards to 7,500 at the start of this year. (With inputs from AFP)

Facebook deletes 583 million fake accounts in first three months of 2018

HMD Global on Wednesday launched Nokia X6 in China, the first device from its new X series.

One of the star features of the device is that almost 95% of the smartphone's body is covered in glass.

There is no information on the global launch of the smartphone.

The device comes in 6GB RAM and 128GB storage capacity. The cost of the device ranges between CNY 1,299 (Rs 13,800 approximately) and CNY 1,699 (Rs 18,100 approximately) depending on the internal memory and storage capacity of the model.&nbsp;

Nokia X6 key specifications and features&nbsp;

The device features 5.8-inch full HD+ display with 19:9 aspect ratio.

It is powered by Qualcomm’s Snapdragon 636 octa-core processor and runs on Android 8.1 Oreo, upgradable to Android P OS.

For the ones who love to click pictures, Nokia X6 boasts of a dual-rear camera with 16-megapixel and 5-megapixel sensors. On the front, the smartphone comes equipped with a 16-megapixel camera.

The phone supports dual-SIM and boasts of a 3060mAh battery.

According to reports, Nokia X6 is the first to feature iPhone X-like notch display design.

According to reports, Nokia X6 is the first to feature iPhone X-like notch display design

HMD Global on Wednesday launched Nokia X6 in China, the first device from its new X series. One of the star features of the device is that almost 95% of the smartphone's body is covered in glass. There is no information on the global launch of the smartphone. The device comes in 6GB RAM and 128GB storage capacity. The cost of the device ranges between CNY 1,299 (Rs 13,800 approximately) and CNY 1,699 (Rs 18,100 approximately) depending on the internal memory and storage capacity of the model. Nokia X6 key specifications and features The device features 5.8-inch full HD+ display with 19:9 aspect ratio. It is powered by Qualcomm’s Snapdragon 636 octa-core processor and runs on Android 8.1 Oreo, upgradable to Android P OS. For the ones who love to click pictures, Nokia X6 boasts of a dual-rear camera with 16-megapixel and 5-megapixel sensors. On the front, the smartphone comes equipped with a 16-megapixel camera. The phone supports dual-SIM and boasts of a 3060mAh battery. According to reports, Nokia X6 is the first to feature iPhone X-like notch display design.

HMD Global launches Nokia X6 in China: Key specifications and price

Two of the world's biggest video streaming giants, Netflix and Google's YouTube, seem to have varying opinions when it comes to sleep.&nbsp;

While Google recently announced rolling out a feature that lets YouTube users set a "Take a break" reminder to limit prolonged viewing, Netflix's CEO Reed Hastings last month noted sleep as the company's biggest competition.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Sleep is my greatest enemy.
— Netflix US (@netflix) <a href="https://twitter.com/netflix/status/854100194098520064?ref_src=twsrc%5Etfw">April 17, 2017</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

“We’re competing with sleep, on the margin. And so, it’s a very large pool of time,” Hastings noted.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
And only then can you learn how to defeat it.
— Netflix US (@netflix) <a href="https://twitter.com/netflix/status/854105985903771649?ref_src=twsrc%5Etfw">April 17, 2017</a></blockquote>
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Netflix enjoys close to 125 million users worldwide, but Hastings had previously admitted having got "YouTube envy”.

Google recently announced rolling out a feature that lets YouTube users set a "Take a break" reminder to limit prolonged viewing

Two of the world's biggest video streaming giants, Netflix and Google's YouTube, seem to have varying opinions when it comes to sleep. While Google recently announced rolling out a feature that lets YouTube users set a "Take a break" reminder to limit prolonged viewing, Netflix's CEO Reed Hastings last month noted sleep as the company's biggest competition. Sleep is my greatest enemy. — Netflix US (@netflix) April 17, 2017 × “We’re competing with sleep, on the margin. And so, it’s a very large pool of time,” Hastings noted. And only then can you learn how to defeat it. — Netflix US (@netflix) April 17, 2017 × Netflix enjoys close to 125 million users worldwide, but Hastings had previously admitted having got "YouTube envy”.

While Netflix competes with sleep, YouTube wants users to 'take break'

Benchmark indices BSE Sensex and NSE’s Nifty 50 traded marginally higher on Monday as traders await key Karnataka election results and inflation data.&nbsp

BSE Sensex traded higher by 38.20 points, or 0.11%, to 35,573.99, while the Nifty 50 rose 9.90 points, or 0.09%, to 10,816.40.

Forex dealers attributed the rise in the rupee to the weakness of the dollar against other currencies overseas.

In economic data, India's wholesale price index (WPI), consumer price index (CPI) and trade balance data are due during this week.

In economic data, India's wholesale price index (WPI), consumer price index (CPI) and trade balance data are due during this week.

Benchmark indices BSE Sensex and NSE’s Nifty 50 traded marginally higher on Monday as traders await key Karnataka election results and inflation data. BSE Sensex traded higher by 38.20 points, or 0.11%, to 35,573.99, while the Nifty 50 rose 9.90 points, or 0.09%, to 10,816.40. Forex dealers attributed the rise in the rupee to the weakness of the dollar against other currencies overseas. In economic data, India's wholesale price index (WPI), consumer price index (CPI) and trade balance data are due during this week.

Nifty opens above 10,800, Sensex flat after Karnataka exit polls

The rupee strengthened by 12 paise to 67.21 against the dollar in early trade today on fresh selling of the US currency by exporters and banks amid higher opening in the domestic equity market.

Forex dealers attributed the rise in the rupee to weakness of the dollar against other currencies overseas.

However, industrial output growing by 4.4 per cent in March, the slowest in five months, capped the rupee gains, they added.

On Friday, the rupee had settled almost flat at 67.33 against the US currency in highly volatile trade amid weak dollar cues.

Meanwhile, the benchmark BSE Sensex rose 37.19 points, or 0.10 per cent, at 35,572.98 in early trade today.

On Friday, the rupee had settled almost flat at 67.33 against the US currency in highly volatile trade amid weak dollar cues.

The rupee strengthened by 12 paise to 67.21 against the dollar in early trade today on fresh selling of the US currency by exporters and banks amid higher opening in the domestic equity market. Forex dealers attributed the rise in the rupee to weakness of the dollar against other currencies overseas. However, industrial output growing by 4.4 per cent in March, the slowest in five months, capped the rupee gains, they added. On Friday, the rupee had settled almost flat at 67.33 against the US currency in highly volatile trade amid weak dollar cues. Meanwhile, the benchmark BSE Sensex rose 37.19 points, or 0.10 per cent, at 35,572.98 in early trade today.

Rupee gains 12 paise against dollar in early trade

Annual retail inflation accelerated in April to 4.58 per cent, after easing for three straight months, government data showed on Monday, mainly driven by faster increases in fuel prices.

Analysts polled by Reuters had forecast April's CPI inflation at 4.42 per cent, up from March's 4.28 per cent.

April was the sixth straight month in which inflation was higher than the Reserve Bank of India's medium-term target of 4 per cent.&nbsp;

The Reserve Bank of India's medium-term target is 4 per cent.&nbsp;

Earlier on Monday, the government said that the wholesale price inflation (WPI) in April increased to 3.18 per cent, compared with the poll's forecast of 2.86 per cent and March`s level of 2.47 per cent.&nbsp;

The Reserve Bank of India's medium-term target is 4 per cent

Annual retail inflation accelerated in April to 4.58 per cent, after easing for three straight months, government data showed on Monday, mainly driven by faster increases in fuel prices. Analysts polled by Reuters had forecast April's CPI inflation at 4.42 per cent, up from March's 4.28 per cent. April was the sixth straight month in which inflation was higher than the Reserve Bank of India's medium-term target of 4 per cent. The Reserve Bank of India's medium-term target is 4 per cent. Earlier on Monday, the government said that the wholesale price inflation (WPI) in April increased to 3.18 per cent, compared with the poll's forecast of 2.86 per cent and March`s level of 2.47 per cent.

Retail inflation inches up for first time in four months

Expenditure of scaling Everest has now become cheaper as rates low down. This is a good news for all mountaineers around the world. Watch video to know more:

Scaling Everest now becomes cheaper and riskier

If you think you spend too much time browsing videos on YouTube, Google's latest feature is just for you.

The company has rolled out a feature that lets a user set a "Take a break" reminder and limit video viewing time.&nbsp

A user will be able to set a reminder for every 15, 30, 60, 90 or 180 minutes. During the break, the video will pause automatically and a "Take a Break" notification will pop on the screen notifying that they have been binge-watching videos for longer than they decided to.

However, users can choose to dismiss the reminder and keep watching. The new feature will be rolled out in the latest update of YouTube.

However, users can choose to dismiss the reminder and keep watching

If you think you spend too much time browsing videos on YouTube, Google's latest feature is just for you. The company has rolled out a feature that lets a user set a "Take a break" reminder and limit video viewing time. A user will be able to set a reminder for every 15, 30, 60, 90 or 180 minutes. During the break, the video will pause automatically and a "Take a Break" notification will pop on the screen notifying that they have been binge-watching videos for longer than they decided to. However, users can choose to dismiss the reminder and keep watching. The new feature will be rolled out in the latest update of YouTube.

Google's new YouTube feature lets users take break from binge-watching

Japan's SoftBank Group Corp has not yet decided to sell its 20-22 per cent stake in Flipkart to US retailer Walmart Inc, sources with direct knowledge of the development said.

SoftBank's Masayoshi Son will take a call in the next 7-10 days on whether to exit India's biggest online retailer or say invested for some more time, they said.

Walmart had on Wednesday announced that it will pay about US $16 billion to buy <a href="www.wionews.com/business-&-economy/walmart-buying-77-stake-in-flipkart-for-16-billion-135737">77 per cent stake in Flipkart</a>.

A statement issued by Walmart that day identified Flipkart co-founder Binny Bansal, Tencent Holdings Ltd, Tiger Global Management LLC and Microsoft Corp as the investors who would hold the remaining 23 per cent, implying SoftBank had agreed to sell its 20-22 per cent stake.

Sources, however, said SoftBank is yet to take a call on exiting Flipkart.

The factors that hold key to the decision include the tax SoftBank has to pay on profits it would earn from such share sale.

SoftBank had invested US $2.5 billion in Flipkart and exiting the company would fetch it up to US $4.5 billion. The US $2 billion profit would be taxed as per Indian law.

Since the profit is made from shares that were held for more than two years, it would attract a long-term capital gains tax of 20 per cent plus surcharge and education cess, effectively wiping away a fourth of the profit.

Other deciding factors would be Son's relationship with Walmart and that SoftBank likes to be a long-term investor, sources said, adding the Japanese conglomerate is very bullish on India and sees immense opportunities for growth of investment.

When contacted, a SoftBank spokesperson declined to comment.

Sources said Walmart had indeed courted SoftBank for buying its shares but the Japanese group has not yet taken a final call on the issue.

On May 9, hours before Walmart was scheduled to announce the <a href="http://www.wionews.com/business-&-economy/walmart-buys-flipkart-for-16-bn-other-mega-indian-deals-135745">Flipkart acquisition</a>, SoftBank chief executive Masayoshi Son told an investor call on his company's earnings that Walmart had agreed to buy a controlling stake in the Indian e-commerce company.

"Last night, (they) reached a final agreement and it was decided that Flipkart will be sold to America's Walmart," Son had stated in Tokyo, according to an AFP report.

He had gone on to state that the US $2.5 billion that the Japanese company through its Vision Fund had invested in Flipkart was worth about US $4 billion in the deal. 
He had not clearly stated if SoftBank had agreed to sell the stake at such valuations.

In case SoftBank decides not to sell, Walmart would be left with about 55 per cent of Flipkart.

On Wednesday, all significant shareholders in Flipkart like Naspers, venture fund Accel Partners and eBay had confirmed they were selling their shares to Walmart.

South African internet and entertainment firm Naspers, which had invested USD 616 million in Flipkart in August 2012, sold its entire 11.18 per cent stake in the company to Walmart for US $2.2 billion. EBay said it is selling its stake in Flipkart for about US $1.1 billion.

The factors that hold key to the decision include the tax SoftBank has to pay on profits it would earn from such share sale.

Japan's SoftBank Group Corp has not yet decided to sell its 20-22 per cent stake in Flipkart to US retailer Walmart Inc, sources with direct knowledge of the development said. SoftBank's Masayoshi Son will take a call in the next 7-10 days on whether to exit India's biggest online retailer or say invested for some more time, they said. Walmart had on Wednesday announced that it will pay about US $16 billion to buy 77 per cent stake in Flipkart. A statement issued by Walmart that day identified Flipkart co-founder Binny Bansal, Tencent Holdings Ltd, Tiger Global Management LLC and Microsoft Corp as the investors who would hold the remaining 23 per cent, implying SoftBank had agreed to sell its 20-22 per cent stake. Sources, however, said SoftBank is yet to take a call on exiting Flipkart. The factors that hold key to the decision include the tax SoftBank has to pay on profits it would earn from such share sale. SoftBank had invested US $2.5 billion in Flipkart and exiting the company would fetch it up to US $4.5 billion. The US $2 billion profit would be taxed as per Indian law. Since the profit is made from shares that were held for more than two years, it would attract a long-term capital gains tax of 20 per cent plus surcharge and education cess, effectively wiping away a fourth of the profit. Other deciding factors would be Son's relationship with Walmart and that SoftBank likes to be a long-term investor, sources said, adding the Japanese conglomerate is very bullish on India and sees immense opportunities for growth of investment. When contacted, a SoftBank spokesperson declined to comment. Sources said Walmart had indeed courted SoftBank for buying its shares but the Japanese group has not yet taken a final call on the issue. On May 9, hours before Walmart was scheduled to announce the Flipkart acquisition, SoftBank chief executive Masayoshi Son told an investor call on his company's earnings that Walmart had agreed to buy a controlling stake in the Indian e-commerce company. "Last night, (they) reached a final agreement and it was decided that Flipkart will be sold to America's Walmart," Son had stated in Tokyo, according to an AFP report. He had gone on to state that the US $2.5 billion that the Japanese company through its Vision Fund had invested in Flipkart was worth about US $4 billion in the deal. He had not clearly stated if SoftBank had agreed to sell the stake at such valuations. In case SoftBank decides not to sell, Walmart would be left with about 55 per cent of Flipkart. On Wednesday, all significant shareholders in Flipkart like Naspers, venture fund Accel Partners and eBay had confirmed they were selling their shares to Walmart. South African internet and entertainment firm Naspers, which had invested USD 616 million in Flipkart in August 2012, sold its entire 11.18 per cent stake in the company to Walmart for US $2.2 billion. EBay said it is selling its stake in Flipkart for about US $1.1 billion.

Flipkart deal: SoftBank undecided on selling stake to Walmart

Japan's economy is expected to have contracted for the first time in two years in the first quarter due to weak private consumption and softer export demand, a Reuters poll showed on Friday.

A negative reading, while slight, would snap Japan's longest period of economic expansion - eight straight quarters of growth - since its 1980s bubble economy.

But analysts said the expected January-March weakness may be only a temporary soft patch, arguing that higher prices for fresh vegetables and bad winter weather likely weighed on consumer spending in the quarter.

The global economy also has remained firm, suggesting Japan will regain traction in the second quarter, they added.

Gross domestic product (GDP) probably shrank at an annualised rate of 0.2 per cent in the first quarter after a 1.6 of expansion in the final quarter of 2017, the poll of 18 analysts showed.

That would mark the first contraction in the world's third-largest economy since late 2015.

The annualised contraction would translate into a flat reading from the previous quarter.

"The economy had steadily recovered but it appeared to have come to a temporary standstill," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.

"Economic indicators such as factory output and firms' business sentiment have shown a softening momentum of the economy. The GDP data will likely reflect those moves."

Analysts believe there was no growth in private consumption in the quarter, after a 0.5 per cent gain in the final quarter last year. Private consumption accounts for 60 per cent of GDP.

External demand - or exports minus imports - also provided no contribution to GDP, the poll found. Japan's exports rose less than expected in March and a business survey showed export order growth slowed sharply in April due to a stronger yen.

Capital spending was forecast to rise 0.4 per cent in the quarter, slowing from a 1.0 per cent increase in the previous period but still up for a sixth straight quarter.

"The economy is expected to return to the pace of around annualised 1.0 per cent growth from April-June but we need to pay attention to impacts from the United States' trade protectionism including the currency movements," said Yusuke Ichikawa, senior economist at Mizuho Research Institute.

The Cabinet Office will publish the GDP data on May 16 at 8:50am (2350 GMT, May 15).

MACHINERY ORDERS, CORE CPI

The poll also predicted machinery orders fell 3.0 per cent in March from the previous month, when they grew 2.1 per cent. The highly volatile data series is regarded as an indicator of capital spending in six to nine months.

It would be the first decline in three months after a 2.1 per cent growth in February and a 8.2 per cent jump in January.

Still, machinery orders likely rose for the third straight quarter in Jan-March versus the previous quarter, analysts say.

"Capital spending is staying solid despite the bearish tone of domestic and overseas economies and it will likely retain its positive movement," said an analyst at SMBC Nikko Securities in the survey.

The machinery order data will be released at 8:50am on May 17.

The poll also found the core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, rose 0.8 percent in April from a year earlier, a touch less than the 0.9 per cent gain seen in March.

Core CPI is due out at 8:30am on May 18.

The Bank of Japan's corporate goods price index (CGPI), which measures the prices companies charge each other for goods and services, likely grew 2.0 per cent in April.

The annualised contraction would translate into a flat reading from the previous quarter.

Japan's economy is expected to have contracted for the first time in two years in the first quarter due to weak private consumption and softer export demand, a Reuters poll showed on Friday. A negative reading, while slight, would snap Japan's longest period of economic expansion - eight straight quarters of growth - since its 1980s bubble economy. But analysts said the expected January-March weakness may be only a temporary soft patch, arguing that higher prices for fresh vegetables and bad winter weather likely weighed on consumer spending in the quarter. The global economy also has remained firm, suggesting Japan will regain traction in the second quarter, they added. Gross domestic product (GDP) probably shrank at an annualised rate of 0.2 per cent in the first quarter after a 1.6 of expansion in the final quarter of 2017, the poll of 18 analysts showed. That would mark the first contraction in the world's third-largest economy since late 2015. The annualised contraction would translate into a flat reading from the previous quarter. "The economy had steadily recovered but it appeared to have come to a temporary standstill," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. "Economic indicators such as factory output and firms' business sentiment have shown a softening momentum of the economy. The GDP data will likely reflect those moves." Analysts believe there was no growth in private consumption in the quarter, after a 0.5 per cent gain in the final quarter last year. Private consumption accounts for 60 per cent of GDP. External demand - or exports minus imports - also provided no contribution to GDP, the poll found. Japan's exports rose less than expected in March and a business survey showed export order growth slowed sharply in April due to a stronger yen. Capital spending was forecast to rise 0.4 per cent in the quarter, slowing from a 1.0 per cent increase in the previous period but still up for a sixth straight quarter. "The economy is expected to return to the pace of around annualised 1.0 per cent growth from April-June but we need to pay attention to impacts from the United States' trade protectionism including the currency movements," said Yusuke Ichikawa, senior economist at Mizuho Research Institute. The Cabinet Office will publish the GDP data on May 16 at 8:50am (2350 GMT, May 15). MACHINERY ORDERS, CORE CPI The poll also predicted machinery orders fell 3.0 per cent in March from the previous month, when they grew 2.1 per cent. The highly volatile data series is regarded as an indicator of capital spending in six to nine months. It would be the first decline in three months after a 2.1 per cent growth in February and a 8.2 per cent jump in January. Still, machinery orders likely rose for the third straight quarter in Jan-March versus the previous quarter, analysts say. "Capital spending is staying solid despite the bearish tone of domestic and overseas economies and it will likely retain its positive movement," said an analyst at SMBC Nikko Securities in the survey. The machinery order data will be released at 8:50am on May 17. The poll also found the core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, rose 0.8 percent in April from a year earlier, a touch less than the 0.9 per cent gain seen in March. Core CPI is due out at 8:30am on May 18. The Bank of Japan's corporate goods price index (CGPI), which measures the prices companies charge each other for goods and services, likely grew 2.0 per cent in April.

Japan economy seen shrinking for first time in two years in first quarter

WhatsApp's 'Black Dot'&nbsp;bug, that recently affected Android devices, is reported to now have spread to iOS 11.3, iOS 11.4 Beta.

Reports emerged when Android device users complained of the messaging application to crash all of a sudden soon after they received a message with a black dot.&nbsp;

According to reports, for iPhone users, the instant messaging application crashes as soon as the message is opened.

It is now being suggested that the black dot is based on a Unicode text bug carrying thousands of hidden characters.&nbsp;

The application fails to operate and crashes as the device tries to read the text but fails due to limited memory and too much data hidden in the message.&nbsp;

Experts suggest ways to avoid the bug from harming your device. One of the ways is to avoid the message from appearing on the screen, a user can send a series of text messages to the sender of the 'Black Dot'&nbsp;message via voice assistance feature and make sure that the message with the bug goes way up in the chat history and therefore not displayed on the screen.&nbsp;

Users can also delete the conversation and try uninstalling the application.

The application fails to operate and crashes as the device tries to read the text but fails due to limited memory

WhatsApp's 'Black Dot' bug, that recently affected Android devices, is reported to now have spread to iOS 11.3, iOS 11.4 Beta. Reports emerged when Android device users complained of the messaging application to crash all of a sudden soon after they received a message with a black dot. According to reports, for iPhone users, the instant messaging application crashes as soon as the message is opened. It is now being suggested that the black dot is based on a Unicode text bug carrying thousands of hidden characters. The application fails to operate and crashes as the device tries to read the text but fails due to limited memory and too much data hidden in the message. Experts suggest ways to avoid the bug from harming your device. One of the ways is to avoid the message from appearing on the screen, a user can send a series of text messages to the sender of the 'Black Dot' message via voice assistance feature and make sure that the message with the bug goes way up in the chat history and therefore not displayed on the screen. Users can also delete the conversation and try uninstalling the application.

Notorious WhatsApp 'Black Dot' bug spreads to iPhone devices

The BSE Sensex rebounded by about 290 points today, while the Nifty retook the 10,800-mark on robust buying in metal, banking, capital goods and energy stocks.

A firm trend at other Asian markets and positive opening of European shares, tracking overnight gains at the Wall Street, also bolstered sentiments, brokers said.

The BSE Sensex stayed in the positive terrain throughout the session and hit a high of 35,596.15 before finishing at 35,535.79 -- a rise of 289.52 points, or 0.82 per cent.

The broader NSE Nifty scaled a high of 10,812.05 before closing 89.95 points, or 0.84 per cent, higher at 10,806.50.

On a weekly basis, the Sensex gained 620.41 points, or 1.78 per cent, while the Nifty advanced 188.25 points, or 1.77 per cent.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 900.69 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 364.88 crore yesterday, as per provisional data. PTI&nbsp

The rise was pushed by robust buying in metal, banking, capital goods and energy stocks

The BSE Sensex rebounded by about 290 points today, while the Nifty retook the 10,800-mark on robust buying in metal, banking, capital goods and energy stocks. A firm trend at other Asian markets and positive opening of European shares, tracking overnight gains at the Wall Street, also bolstered sentiments, brokers said. The BSE Sensex stayed in the positive terrain throughout the session and hit a high of 35,596.15 before finishing at 35,535.79 -- a rise of 289.52 points, or 0.82 per cent. The broader NSE Nifty scaled a high of 10,812.05 before closing 89.95 points, or 0.84 per cent, higher at 10,806.50. On a weekly basis, the Sensex gained 620.41 points, or 1.78 per cent, while the Nifty advanced 188.25 points, or 1.77 per cent. Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 900.69 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 364.88 crore yesterday, as per provisional data. PTI

Sensex surges 290 pts, Nifty tops 10,800-mark

Asian markets built on the past week's gains Friday following another rally in New York as traders welcomed a below-forecast US inflation read that dampened expectations for a sharp lift in interest rates.

While geopolitical tensions continue to linger after Donald Trump pulled out of the Iran nuclear pact this week, dealers were buoyed by the prospect of cheaper borrowing after data showed consumer prices edged up only slightly in April.

News that Trump and Kim Jong Un had agreed to meet on June 12 in Singapore -- the first US-North Korean summit in history -- lifted optimism and fuelled hopes for peace on the Korean peninsula.

The inflation data provided some relief to trading floors, which have fluctuated over recent months on worries that an improving US economy and an expected surge in inflation will force the Federal Reserve to tighten monetary policy.

"The market is breathing a sigh of relief that there was not an upside surprise to the inflation stats," Peter Boockvar, the chief investment officer of Bleakley Financial Group, wrote in an email to clients.

The news lifted all three main indexes on Wall Street and those gains extended into Asia.

Hong Kong rose one per cent, marking a fifth-straight gain, while Tokyo ended 1.2 per cent higher.

Singapore climbed 0.8 per cent and Seoul added 0.6 per cent, while Wellington, Jakarta and Taipei also posted healthy gains.

Manila was 2.3 per cent higher a day after data showed the economy expanded at a strong pace in the first three months of the year, and despite a central bank interest rate hike.

However, Sydney finished marginally lower and Shanghai lost 0.4 per cent.

Oil rally sputters

Greg McKenna, chief market strategist at AxiTrader, offered a word of caution, warning: "Sure, (consumer price) inflation didn't surprise on the upside.

"But that doesn't mean the Fed isn't still going to raise rates two or three more times this year and it doesn't mean quantitative tightening isn't going to continue."

Still, lower expectations for US rates hurt the dollar on Thursday and it struggled to recover in Asia with high-yielding currencies such as the Australian dollar, Mexican peso, Indonesian rupiah and South Korean won gaining ground.

Even the pound held its own despite the Bank of England slashing its economic growth and inflation outlook.

Movements in the crude market were tepid after recent surges that came on the back of Trump's Iran decision and data showing US demand for the commodity appeared to be picking up.

However, both main contracts remain around highs not seen since November 2014 and there is still talk of further rises to around $80 a barrel.

An exchange of rockets between Israel and Iran was also keeping traders wary of a flare-up in the volatile Middle East, with the Syria crisis still raging.

In early European trade London and Frankfurt each rose 0.1 per cent but Paris shed 0.2 per cent.

Singapore climbed 0.8 per cent and Seoul added 0.6 per cent, while Wellington, Jakarta and Taipei also posted healthy gains

Asian markets built on the past week's gains Friday following another rally in New York as traders welcomed a below-forecast US inflation read that dampened expectations for a sharp lift in interest rates. While geopolitical tensions continue to linger after Donald Trump pulled out of the Iran nuclear pact this week, dealers were buoyed by the prospect of cheaper borrowing after data showed consumer prices edged up only slightly in April. News that Trump and Kim Jong Un had agreed to meet on June 12 in Singapore -- the first US-North Korean summit in history -- lifted optimism and fuelled hopes for peace on the Korean peninsula. The inflation data provided some relief to trading floors, which have fluctuated over recent months on worries that an improving US economy and an expected surge in inflation will force the Federal Reserve to tighten monetary policy. "The market is breathing a sigh of relief that there was not an upside surprise to the inflation stats," Peter Boockvar, the chief investment officer of Bleakley Financial Group, wrote in an email to clients. The news lifted all three main indexes on Wall Street and those gains extended into Asia. Hong Kong rose one per cent, marking a fifth-straight gain, while Tokyo ended 1.2 per cent higher. Singapore climbed 0.8 per cent and Seoul added 0.6 per cent, while Wellington, Jakarta and Taipei also posted healthy gains. Manila was 2.3 per cent higher a day after data showed the economy expanded at a strong pace in the first three months of the year, and despite a central bank interest rate hike. However, Sydney finished marginally lower and Shanghai lost 0.4 per cent. Oil rally sputters Greg McKenna, chief market strategist at AxiTrader, offered a word of caution, warning: "Sure, (consumer price) inflation didn't surprise on the upside. "But that doesn't mean the Fed isn't still going to raise rates two or three more times this year and it doesn't mean quantitative tightening isn't going to continue." Still, lower expectations for US rates hurt the dollar on Thursday and it struggled to recover in Asia with high-yielding currencies such as the Australian dollar, Mexican peso, Indonesian rupiah and South Korean won gaining ground. Even the pound held its own despite the Bank of England slashing its economic growth and inflation outlook. Movements in the crude market were tepid after recent surges that came on the back of Trump's Iran decision and data showing US demand for the commodity appeared to be picking up. However, both main contracts remain around highs not seen since November 2014 and there is still talk of further rises to around $80 a barrel. An exchange of rockets between Israel and Iran was also keeping traders wary of a flare-up in the volatile Middle East, with the Syria crisis still raging. In early European trade London and Frankfurt each rose 0.1 per cent but Paris shed 0.2 per cent.

Most Asian markets end healthy week on a positive note

Walmart is likely to announce its much-anticipated deal to buy a controlling stake in Indian e-commerce company Flipkart, in what is likely to be the US retail giant’s biggest acquisition.&nbsp;

Bentonville, Arkansas-based Walmart and its partner in the deal, Google parent Alphabet Inc, are looking to buy up to three-quarters of Flipkart. Walmart will look to own a roughly 60 percent stake, while Alphabet will get about 15 percent ownership of the online marketplace, sources added. The deal is likely to value Flipkart at roughly $18 billion to $20 billion.

Indian media reported last week that Amazon.com Inc, which has been pouring billions of dollars into India to ship goods to shoppers faster, had made a formal offer to buy 60 percent of Flipkart but that Flipkart’s founders preferred Walmart.

Below are key facts about Flipkart:

The company was founded in 2007 in the southern Indian city of Bengaluru by Sachin Bansal and Binny Bansal. The Bansals, who are not related, met in 2005 at the Indian Institute of Technology, Delhi. They are both former employees of Amazon.

Flipkart at first sold books, later expanding to sell music, movies, games, electronics and mobiles, the category that has driven growth. The first book it sold was John Wood’s Leaving Microsoft to Change the World. It launched logistics arm Ekart in 2010 and started the now popular cash-on-delivery service.

It opened its first office in Bengaluru in 2008 and opened offices in Delhi and Mumbai in 2009. Last month, Flipkart consolidated all its Bengaluru offices in one large campus.

In 2011, Flipkart domiciled to Singapore, as it looked to woo foreign investors to fund rapid growth. The first billion-dollar Indian e-commerce company, Flipkart sells 8 million products across 80 plus categories. It has 100 million registered users, 100,000 sellers, 21 warehouses, 10 million daily page visits.

Key people:

In 2016, Binny Bansal took over as CEO and Sachin Bansal became executive chairman. Last year, Kalyan Krishnamurthy, previously an executive in Flipkart investor Tiger Global, took over as Flipkart CEO.

Binny Bansal became CEO of the whole group, which includes fashion portals Myntra-Jabong, payments unit PhonePe and logistics firm Ekart.

The company’s board has seven members. Dropbox Inc’s chief technology officer, Aditya Agarwal, joined the board in 2014.

Mergers & Acquisitions:

Bought online apparel retailer Myntra in a deal pegged by sources at about $300 million in 2014, and another retailer Jabong for $70 million in 2016.

Last year, Flipkart offered to buy rival Snapdeal but the deal fell through. SoftBank, Flipkart’s largest investor, also has a stake in Snapdeal, as does China’s Alibaba Group Holding Ltd.

Flipkart bought payment startup PhonePe in 2016. In exchange for an equity stake in Flipkart, eBay agreed to make a $500 million cash investment in and sell its eBay.in business to Flipkart in 2017.

Investors:

Japan’s SoftBank Group Corp owns a fifth of Flipkart through its Vision Fund. SoftBank expected to sell its whole stake in the Walmart deal, Reuters reported last week.

Early investors New York-based hedge fund Tiger Global and U.S. private-equity firm Accel Partners will sell a majority of their stakes, Reuters reported on Tuesday.

Other investors include the founders and Napsers Ltd. China’s Tencent Holdings Ltd, eBay Inc and Microsoft Corp invested $1.4 billion last year.

Financials, according to filings sourced by business intelligence platform paper.vc:

Flipkart Group’s consolidated loss attributable to owners of the company in fiscal 2017 widened to 87.70 billion rupees, from 52.16 billion rupees a year earlier.

Consolidated revenue jumped 29 percent to 198.55 billion in fiscal 2017. 
&nbsp;

Walmart is likely to announce its much-anticipated deal to buy a controlling stake in Indian e-commerce company Flipkart before the end of this week.

Walmart is likely to announce its much-anticipated deal to buy a controlling stake in Indian e-commerce company Flipkart, in what is likely to be the US retail giant’s biggest acquisition. Bentonville, Arkansas-based Walmart and its partner in the deal, Google parent Alphabet Inc, are looking to buy up to three-quarters of Flipkart. Walmart will look to own a roughly 60 percent stake, while Alphabet will get about 15 percent ownership of the online marketplace, sources added. The deal is likely to value Flipkart at roughly $18 billion to $20 billion. Indian media reported last week that Amazon.com Inc, which has been pouring billions of dollars into India to ship goods to shoppers faster, had made a formal offer to buy 60 percent of Flipkart but that Flipkart’s founders preferred Walmart. Below are key facts about Flipkart: The company was founded in 2007 in the southern Indian city of Bengaluru by Sachin Bansal and Binny Bansal. The Bansals, who are not related, met in 2005 at the Indian Institute of Technology, Delhi. They are both former employees of Amazon. Flipkart at first sold books, later expanding to sell music, movies, games, electronics and mobiles, the category that has driven growth. The first book it sold was John Wood’s Leaving Microsoft to Change the World. It launched logistics arm Ekart in 2010 and started the now popular cash-on-delivery service. It opened its first office in Bengaluru in 2008 and opened offices in Delhi and Mumbai in 2009. Last month, Flipkart consolidated all its Bengaluru offices in one large campus. In 2011, Flipkart domiciled to Singapore, as it looked to woo foreign investors to fund rapid growth. The first billion-dollar Indian e-commerce company, Flipkart sells 8 million products across 80 plus categories. It has 100 million registered users, 100,000 sellers, 21 warehouses, 10 million daily page visits. Key people: In 2016, Binny Bansal took over as CEO and Sachin Bansal became executive chairman. Last year, Kalyan Krishnamurthy, previously an executive in Flipkart investor Tiger Global, took over as Flipkart CEO. Binny Bansal became CEO of the whole group, which includes fashion portals Myntra-Jabong, payments unit PhonePe and logistics firm Ekart. The company’s board has seven members. Dropbox Inc’s chief technology officer, Aditya Agarwal, joined the board in 2014. Mergers & Acquisitions: Bought online apparel retailer Myntra in a deal pegged by sources at about $300 million in 2014, and another retailer Jabong for $70 million in 2016. Last year, Flipkart offered to buy rival Snapdeal but the deal fell through. SoftBank, Flipkart’s largest investor, also has a stake in Snapdeal, as does China’s Alibaba Group Holding Ltd. Flipkart bought payment startup PhonePe in 2016. In exchange for an equity stake in Flipkart, eBay agreed to make a $500 million cash investment in and sell its eBay.in business to Flipkart in 2017. Investors: Japan’s SoftBank Group Corp owns a fifth of Flipkart through its Vision Fund. SoftBank expected to sell its whole stake in the Walmart deal, Reuters reported last week. Early investors New York-based hedge fund Tiger Global and U.S. private-equity firm Accel Partners will sell a majority of their stakes, Reuters reported on Tuesday. Other investors include the founders and Napsers Ltd. China’s Tencent Holdings Ltd, eBay Inc and Microsoft Corp invested $1.4 billion last year. Financials, according to filings sourced by business intelligence platform paper.vc: Flipkart Group’s consolidated loss attributable to owners of the company in fiscal 2017 widened to 87.70 billion rupees, from 52.16 billion rupees a year earlier. Consolidated revenue jumped 29 percent to 198.55 billion in fiscal 2017.

Flipkart: A look at the journey of India's e-commerce giant

The Indian economy is expected to grow at 7.4 per cent in the current fiscal and accelerate further to 7.8 per cent as it recovers from the impact of demonetisation and GST roll out, IMF said today.

Asia continues to be the main engine of the world's economy, accounting for more than 60 per cent of global growth, three-quarters of which comes from China and India alone, as per IMF's Regional Economic Outlook: Asia and Pacific (REO).

"But there are risks and challenges ahead, including from a tightening of global financial conditions, a shift toward inward-looking policies, and ? over the longer run ? population aging, slowing productivity growth, and the rise of the digital economy," it said.

Also read:&nbsp;<a href="http://www.wionews.com/south-asia/why-is-indias-growth-not-creating-more-jobs-16771">Why is India's growth not creating more jobs?</a>

Asia is expected to grow at 5.6 per cent this year and next, it said, adding that the outlook is supported by strong global demand, as well as still accommodative policies and financial conditions.

"In India, growth is forecast to rebound to 7.4 percent in FY 2018/19 as the economy recovers from disruptions related to the currency exchange initiative and the rollout of the new Goods and Services Tax," it said.

China, it said, is projected to grow at 6.6 per cent in the current year which will moderate to 6.4 per cent next year.

Noting that present rates of inflation in Asia are some of the lowest in decades, it said, it has seen some upward movement since September 2017 on the back of rising oil prices.

"But core inflation ? which excludes food and energy ? remains low and below target in many economies. In 2017, headline inflation on average was 0.6 percent lower than target in Asian advanced economies, and 0.8 percent under target in Asian emerging market economies," it said.

The latest report explores why inflation has been so low. And it finds that first that temporary global factors, including commodity prices and imported inflation, have been key drivers of low inflation.&nbsp; 
But these factors could reverse, and inflation could rise.

According to the report, inflation has become more backward-looking, meaning that past inflation drives current inflation more than future expectations. This suggests that if inflation rises, it may persist.

"Further, there is some evidence that the sensitivity of inflation to economic slack has decreased (i.E., the Phillips curve has flattened), suggesting that if inflation rises, there may be a large hit to output when reducing it," it said.

All of these mean that central banks should watch out closely for signs of inflation pressure now and stand ready to respond.&nbsp;

India's growth rate is expected to increase to 7.8% in 2019, the IMF said. China on the other is expected to grow at 6.6% in 2018 and 6.4% next year

The Indian economy is expected to grow at 7.4 per cent in the current fiscal and accelerate further to 7.8 per cent as it recovers from the impact of demonetisation and GST roll out, IMF said today. Asia continues to be the main engine of the world's economy, accounting for more than 60 per cent of global growth, three-quarters of which comes from China and India alone, as per IMF's Regional Economic Outlook: Asia and Pacific (REO). "But there are risks and challenges ahead, including from a tightening of global financial conditions, a shift toward inward-looking policies, and ? over the longer run ? population aging, slowing productivity growth, and the rise of the digital economy," it said. Also read: Why is India's growth not creating more jobs? Asia is expected to grow at 5.6 per cent this year and next, it said, adding that the outlook is supported by strong global demand, as well as still accommodative policies and financial conditions. "In India, growth is forecast to rebound to 7.4 percent in FY 2018/19 as the economy recovers from disruptions related to the currency exchange initiative and the rollout of the new Goods and Services Tax," it said. China, it said, is projected to grow at 6.6 per cent in the current year which will moderate to 6.4 per cent next year. Noting that present rates of inflation in Asia are some of the lowest in decades, it said, it has seen some upward movement since September 2017 on the back of rising oil prices. "But core inflation ? which excludes food and energy ? remains low and below target in many economies. In 2017, headline inflation on average was 0.6 percent lower than target in Asian advanced economies, and 0.8 percent under target in Asian emerging market economies," it said. The latest report explores why inflation has been so low. And it finds that first that temporary global factors, including commodity prices and imported inflation, have been key drivers of low inflation. But these factors could reverse, and inflation could rise. According to the report, inflation has become more backward-looking, meaning that past inflation drives current inflation more than future expectations. This suggests that if inflation rises, it may persist. "Further, there is some evidence that the sensitivity of inflation to economic slack has decreased (i.E., the Phillips curve has flattened), suggesting that if inflation rises, there may be a large hit to output when reducing it," it said. All of these mean that central banks should watch out closely for signs of inflation pressure now and stand ready to respond.

India to grow at 7.4% in 2018, says IMF

US retailer Walmart's buying 77 per cent stake in Flipkart for USD 16 billion is the biggest acquisition by a company in India this year.

This is also Walmart's biggest acquisition which will help it compete with its US-based rival Amazon.

The biggest M&A deal in India however is the yet-to-be-completed merger of Vodafone India and Idea Cellular to create India's largest telecom operator, surpassing Bharti Airtel. That deal, worth USD 23 billion, was announced last year.

In August last year, Rosneft and its partners completed a USD 12.9 billion acquisition of Essar Oil to gain control over a 20 million tonnes a year oil refinery and over 3,500 petrol pumps. This is the largest FDI into the country till that date and also the largest outbound investment from Russia.

In case of Flipkart, Walmart is buying into the Singapore-based holding company.

UK's BP Plc in 2011 bought 30 per cent stake in 23 oil and gas blocks, including eastern offshore KG-D6, of Reliance Industries for USD 7.2 billion.

India, Asia's third largest economy, needs foreign capital to boost infrastructure and sustain economic growth. According to Department of Industrial Policy and Promotion (DIPP), the total FDI investments in India during

April-December 2017 stood at USD 35.94 billion.

Below are some of the major mergers and acquisitions in India in recent times (The list is not exhaustive):

* Vodafone & Idea Cellular in 2017 decided to merge their India operations in a USD 23 billion deal. The merger is yet to be completed.

* Rosneft, the Netherlands-based Trafigura Group Pte -- one of the world's biggest commodity trading companies, and Russian investment fund United Capital Partners acquired Essar Oil for $12.9 billion in August 2017.&nbsp

* USD 9.73 billion merger between Analjit Singh-promoted Max Financial Services Ltd and mortgage lender Housing Development Finance Corporation created the largest private-sector life insurer in the country in 2016.

* UltraTech acquired cement business of Jaiprakash Associates for USD 2.4 billion in 2016.

* Nirma acquired Lafarge India for USD 1.4 billion in 2016

* Vedanta acquired 58.5 per cent in Cairn India for a total consideration of USD 8.67 billion in 2011.

* BP Plc bought 30 per cent stake in 23 oil and gas blocks of Reliance Industries for USD 7.2 billion in 2011.

* Japanese drug maker Daiichi Sankyo paid up to USD 4.6 billion for control of Ranbaxy Laboratories Ltd in 2008.

* NTT DoCoMo Inc in 2008 agreed to pay USD 2.7 billion for a 26 per cent stake in Indian telecom firm Tata Teleservices, giving Japan's top mobile operator a foothold in the world's fastest-growing major mobile market.&nbsp

* Vodafone entered India in 2007, paying USD 11.1 billion to buy 67 per cent controlling stake in Hutchison Whampoa Ltd's mobile business in India.&nbsp

Walmart is buying a 77% stake in Flipkart for $16 bn. This is Walmart's biggest-ever acquisition and is expected to help it compete against Amazon

US retailer Walmart's buying 77 per cent stake in Flipkart for USD 16 billion is the biggest acquisition by a company in India this year. This is also Walmart's biggest acquisition which will help it compete with its US-based rival Amazon. The biggest M&A deal in India however is the yet-to-be-completed merger of Vodafone India and Idea Cellular to create India's largest telecom operator, surpassing Bharti Airtel. That deal, worth USD 23 billion, was announced last year. In August last year, Rosneft and its partners completed a USD 12.9 billion acquisition of Essar Oil to gain control over a 20 million tonnes a year oil refinery and over 3,500 petrol pumps. This is the largest FDI into the country till that date and also the largest outbound investment from Russia. In case of Flipkart, Walmart is buying into the Singapore-based holding company. UK's BP Plc in 2011 bought 30 per cent stake in 23 oil and gas blocks, including eastern offshore KG-D6, of Reliance Industries for USD 7.2 billion. India, Asia's third largest economy, needs foreign capital to boost infrastructure and sustain economic growth. According to Department of Industrial Policy and Promotion (DIPP), the total FDI investments in India during April-December 2017 stood at USD 35.94 billion. Below are some of the major mergers and acquisitions in India in recent times (The list is not exhaustive): * Vodafone & Idea Cellular in 2017 decided to merge their India operations in a USD 23 billion deal. The merger is yet to be completed. * Rosneft, the Netherlands-based Trafigura Group Pte -- one of the world's biggest commodity trading companies, and Russian investment fund United Capital Partners acquired Essar Oil for $12.9 billion in August 2017. * USD 9.73 billion merger between Analjit Singh-promoted Max Financial Services Ltd and mortgage lender Housing Development Finance Corporation created the largest private-sector life insurer in the country in 2016. * UltraTech acquired cement business of Jaiprakash Associates for USD 2.4 billion in 2016. * Nirma acquired Lafarge India for USD 1.4 billion in 2016 * Vedanta acquired 58.5 per cent in Cairn India for a total consideration of USD 8.67 billion in 2011. * BP Plc bought 30 per cent stake in 23 oil and gas blocks of Reliance Industries for USD 7.2 billion in 2011. * Japanese drug maker Daiichi Sankyo paid up to USD 4.6 billion for control of Ranbaxy Laboratories Ltd in 2008. * NTT DoCoMo Inc in 2008 agreed to pay USD 2.7 billion for a 26 per cent stake in Indian telecom firm Tata Teleservices, giving Japan's top mobile operator a foothold in the world's fastest-growing major mobile market. * Vodafone entered India in 2007, paying USD 11.1 billion to buy 67 per cent controlling stake in Hutchison Whampoa Ltd's mobile business in India.

Walmart buys Flipkart for $16 bn: Other mega Indian deals

Walmart Inc has agreed to pay $16 billion for a roughly 77 percent stake in Indian online shopping site Flipkart, the U.S. retailer's biggest foreign investment as it battles rival Amazon.com Inc in one of the world's biggest emerging markets.

The deal, capping almost two years of talks, will help the Bentonville, Arkansas-based retailer fortify and boost market share against Amazon.com, which reportedly had tried to make a competing offer for a stake.

"India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of e-commerce in the market," Doug McMillon, Walmart's Chief Executive Officer, said in a statement on Wednesday.

Buying a stake in Flipkart, which sells everything from soaps to smartphones and from books to clothes, gives Walmart access to the fledgling Indian e-commerce market that could potentially be worth $200 billion in a decade, according to Morgan Stanley.

Walmart said it plans to fund the deal through a combination of newly-issued debt and cash on hand.

Walmart warned that it expects the deal to hit its fiscal 2019 earnings per share by 25 cents to 30 cents, if the deal closes as expected before the end of the second quarter.

The remainder of the business will be held by some of Flipkart's existing shareholders, including Flipkart co-founder Binny Bansal, China's Tencent Holdings Ltd, Tiger Global Management LLC and Microsoft Corp, the company said.

Earlier on Wednesday, SoftBank Chief Executive Officer Masayoshi Son unexpectedly spilled the beans on the deal by confirming on a conference call that Walmart had decided to purchase Flipkart, ahead of the highly-anticipated official announcement.

Son said his firm's investment in the Indian online retailer had grown to $4 billion. SoftBank's Vision Fund, the world's biggest private equity fund, had invested $2.5 billion in Flipkart last August.

Sources have previously told Reuters that SoftBank would sell all its shares in Flipkart to Walmart.&nbsp 
&nbsp

The deal, capping almost two years of talks, will help the Bentonville, Arkansas-based retailer fortify and boost market share against Amazon.com, which reportedly had tried to make a competing offer for a stake

Walmart Inc has agreed to pay $16 billion for a roughly 77 percent stake in Indian online shopping site Flipkart, the U.S. retailer's biggest foreign investment as it battles rival Amazon.com Inc in one of the world's biggest emerging markets. The deal, capping almost two years of talks, will help the Bentonville, Arkansas-based retailer fortify and boost market share against Amazon.com, which reportedly had tried to make a competing offer for a stake. "India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of e-commerce in the market," Doug McMillon, Walmart's Chief Executive Officer, said in a statement on Wednesday. Buying a stake in Flipkart, which sells everything from soaps to smartphones and from books to clothes, gives Walmart access to the fledgling Indian e-commerce market that could potentially be worth $200 billion in a decade, according to Morgan Stanley. Walmart said it plans to fund the deal through a combination of newly-issued debt and cash on hand. Walmart warned that it expects the deal to hit its fiscal 2019 earnings per share by 25 cents to 30 cents, if the deal closes as expected before the end of the second quarter. The remainder of the business will be held by some of Flipkart's existing shareholders, including Flipkart co-founder Binny Bansal, China's Tencent Holdings Ltd, Tiger Global Management LLC and Microsoft Corp, the company said. Earlier on Wednesday, SoftBank Chief Executive Officer Masayoshi Son unexpectedly spilled the beans on the deal by confirming on a conference call that Walmart had decided to purchase Flipkart, ahead of the highly-anticipated official announcement. Son said his firm's investment in the Indian online retailer had grown to $4 billion. SoftBank's Vision Fund, the world's biggest private equity fund, had invested $2.5 billion in Flipkart last August. Sources have previously told Reuters that SoftBank would sell all its shares in Flipkart to Walmart.

Walmart buying 77% stake in Flipkart for $16 billion

Rising for the third straight session, the BSE Sensex advanced by 103 points to end at 35,319.35 today as healthy buying in frontline stocks offset lacklustre global cues.

IT counters spurted after the rupee hit fresh 15-month lows against the US dollar.&nbsp

The 30-share barometer opened weak and hit a low of 35,134.20 on profit-booking in recent gainers amid sustained outflows by foreign funds.

However, it soon recovered to touch the day's high of 35,404.83, before finally ending at 35,319.35 -- up 103.03 points, or 0.29 per cent.

The index had risen 300.94 points in the past two sessions.

The 50-share NSE Nifty too moved in a wide range on hectic selling and buying and finally closed 23.90 points, or 0.22 per cent, higher at 10,741.70. Intra-day, it hovered between 10,689.85 and 10,766.25.

Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 923.25 crore while foreign institutional investors (FIIs) sold shares to the tune of Rs 97.15 crore in yesterday's trade, provisional data showed.&nbsp

Crude oil climbed to the highest level since late 2014 at USD 77.07 a barrel after US President Donald Trump abandoned an international nuclear deal with Iran, likely curbing the OPEC member's crude exports in an already tight market.&nbsp

The Sensex ended at 35,319.35 as healthy buying in frontline stocks offset lacklustre global cues

Rising for the third straight session, the BSE Sensex advanced by 103 points to end at 35,319.35 today as healthy buying in frontline stocks offset lacklustre global cues. IT counters spurted after the rupee hit fresh 15-month lows against the US dollar. The 30-share barometer opened weak and hit a low of 35,134.20 on profit-booking in recent gainers amid sustained outflows by foreign funds. However, it soon recovered to touch the day's high of 35,404.83, before finally ending at 35,319.35 -- up 103.03 points, or 0.29 per cent. The index had risen 300.94 points in the past two sessions. The 50-share NSE Nifty too moved in a wide range on hectic selling and buying and finally closed 23.90 points, or 0.22 per cent, higher at 10,741.70. Intra-day, it hovered between 10,689.85 and 10,766.25. Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 923.25 crore while foreign institutional investors (FIIs) sold shares to the tune of Rs 97.15 crore in yesterday's trade, provisional data showed. Crude oil climbed to the highest level since late 2014 at USD 77.07 a barrel after US President Donald Trump abandoned an international nuclear deal with Iran, likely curbing the OPEC member's crude exports in an already tight market.

Sensex ends higher for third day, up 103 points

US retail giant Walmart will buy a majority stake in India's largest e-commerce company Flipkart, according to the head of SoftBank, a major stakeholder in the Indian firm.

"Last night, (they) reached a final agreement and it was decided that Flipkart will be sold to America's Walmart," said SoftBank CEO Masayoshi Son, whose firm owns a 20 percent stake in Flipkart.

He said SoftBank's $2.5 billion stake in the company would be worth $4 billion with the acquisition.

The deal, reportedly worth around $15 billion, is expected to be announced officially later Wednesday, with Walmart CEO Doug McMillon in Bangalore, where Flipkart is headquartered.

Walmart is expected to acquire around 70 percent of the Indian e-tailer in a deal analysts said would be the world's biggest e-commerce acquisition and pit Walmart against rival Amazon in one of the world's fastest growing markets.

Amazon has been expanding aggressively since it entered the Indian market in 2013.

There has been months of speculation that Walmart was preparing to buy Flipkart but both have repeatedly declined to comment on the talks.

Last week, Flipkart's board agreed to sell up to 75 percent of the company to a Walmart-led group, according to multiple media reports.

The deal is expected to value Flipkart at around $20 billion.

Google's parent company Alphabet is also expected to purchase a small stake, possibly around 10 percent, reports said, citing unnamed sources familiar with the matter.

Flipkart is India's largest e-commerce group on the basis of sales but has been fighting off a huge challenge from Amazon.

Amazon boss Jeff Bezos has committed more than $5 billion to grabbing a big slice of India's e-commerce pie after failing to make inroads in China.

E-commerce sales in India hit $21 billion last year according to market research company Forrester, and are expected to soar as its population of 1.25 billion people make greater use of internet access.

Flipkart was founded in 2007 by former Amazon employees Sachin Bansal and Binny Bansal, who are not related.

Like Amazon, it started as an online bookstore. Flipkart now sells everything from mobile phones, televisions and juicers to running shoes, sofas and beauty products.

SoftBank acquired its stake in the company last year through its Vision Fund investment arm.

The announcement was made by SoftBank CEO Mayashi Son who owns a 20 per cent stake in Flipkart. The deal is expected to be officially announced today with Walmart CEO Doug McMillon in Bangalore, where Flipkart is headquartered

US retail giant Walmart will buy a majority stake in India's largest e-commerce company Flipkart, according to the head of SoftBank, a major stakeholder in the Indian firm. "Last night, (they) reached a final agreement and it was decided that Flipkart will be sold to America's Walmart," said SoftBank CEO Masayoshi Son, whose firm owns a 20 percent stake in Flipkart. He said SoftBank's $2.5 billion stake in the company would be worth $4 billion with the acquisition. The deal, reportedly worth around $15 billion, is expected to be announced officially later Wednesday, with Walmart CEO Doug McMillon in Bangalore, where Flipkart is headquartered. Walmart is expected to acquire around 70 percent of the Indian e-tailer in a deal analysts said would be the world's biggest e-commerce acquisition and pit Walmart against rival Amazon in one of the world's fastest growing markets. Amazon has been expanding aggressively since it entered the Indian market in 2013. There has been months of speculation that Walmart was preparing to buy Flipkart but both have repeatedly declined to comment on the talks. Last week, Flipkart's board agreed to sell up to 75 percent of the company to a Walmart-led group, according to multiple media reports. The deal is expected to value Flipkart at around $20 billion. Google's parent company Alphabet is also expected to purchase a small stake, possibly around 10 percent, reports said, citing unnamed sources familiar with the matter. Flipkart is India's largest e-commerce group on the basis of sales but has been fighting off a huge challenge from Amazon. Amazon boss Jeff Bezos has committed more than $5 billion to grabbing a big slice of India's e-commerce pie after failing to make inroads in China. E-commerce sales in India hit $21 billion last year according to market research company Forrester, and are expected to soar as its population of 1.25 billion people make greater use of internet access. Flipkart was founded in 2007 by former Amazon employees Sachin Bansal and Binny Bansal, who are not related. Like Amazon, it started as an online bookstore. Flipkart now sells everything from mobile phones, televisions and juicers to running shoes, sofas and beauty products. SoftBank acquired its stake in the company last year through its Vision Fund investment arm.

Walmart is buying Flipkart for a reported $15 billion