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Citi analysts&nbsp;Jim Suva and Asiya Merchant&nbsp;have anticipated a 40 per cent chance of Apple acquiring Netflix.

Several media reports citing the analysts have said that Apple may acquire the popular entertainment company Netflix.

The prediction has come after the clearing of US President&#39;s&nbsp;new corporate tax.

The recent change to the tax system will allow Apple to bring back huge funds in the country that was stocked outside due to the previous&nbsp;taxation system.

Reports say that about 90 per cent of the Apple&#39;s cash is sitting overseas.&nbsp;

Trump&#39;s Corporate Tax cut will repatriate over $200 billion cash to Apple, which it can utilise to buy the leading entertainment company.&nbsp;

Analysts have said that the tech giant had been avoiding repatriating cash to the US under the previous tax system to avoid high taxation.&nbsp;

Apple had been trying to offer compelling TV shows and movies, however, with the popularity of services such as Netflix, Amazon, Hulu, the tech giant was struggling to offer such services.&nbsp;Though iTunes had been a huge hit for the company.

Netflix, one of the leading video streaming services,&nbsp;has&nbsp;emerged as a major player in the TV game.

The company diverts billions of dollars on original series. The streaming service has designed some of the most popular shows like House of Cards, Black Mirror, 13 reasons why, Better call Saul and many more.&nbsp;

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Citi analysts?Jim Suva and Asiya Merchant?have anticipated a 40 per cent chance of Apple acquiring Netflix

Citi analysts Jim Suva and Asiya Merchant have anticipated a 40 per cent chance of Apple acquiring Netflix. Several media reports citing the analysts have said that Apple may acquire the popular entertainment company Netflix. The prediction has come after the clearing of US President's new corporate tax. The recent change to the tax system will allow Apple to bring back huge funds in the country that was stocked outside due to the previous taxation system. Reports say that about 90 per cent of the Apple's cash is sitting overseas. Trump's Corporate Tax cut will repatriate over $200 billion cash to Apple, which it can utilise to buy the leading entertainment company. Analysts have said that the tech giant had been avoiding repatriating cash to the US under the previous tax system to avoid high taxation. Apple had been trying to offer compelling TV shows and movies, however, with the popularity of services such as Netflix, Amazon, Hulu, the tech giant was struggling to offer such services. Though iTunes had been a huge hit for the company. Netflix, one of the leading video streaming services, has emerged as a major player in the TV game. The company diverts billions of dollars on original series. The streaming service has designed some of the most popular shows like House of Cards, Black Mirror, 13 reasons why, Better call Saul and many more.

Apple may acquire Netflix: Reports

Amid reports of the rising presence of bitcoins and other forms of virtual currencies (VCs) in India, Union Finance Minister Arun Jaitley on Tuesday reiterated that the former are not accepted as a lawful and legal tender in India.

&quot;Since December 24, 2013, the government and the Reserve Bank of India (RBI) have maintained the same stand on bitcoins and other forms of virtual currencies. Through multiple notifications, the two parties have notified the public time and again that bitcoins will not be considered lawful or legal tender in India,&quot; Jaitley said while responding to a question raised in the Rajya Sabha earlier today.

Further, Jaitley stated that an expert group was commissioned to look into the matter, adding that a report will be filed by them on the matter.

&quot;The government does not want to take any substantial steps before the report is filed. We will look into the report and then issue corrective measures after a thorough understanding of the situation. We will also take the global scenario into consideration. However, we have clearly stated that dealing with VCs is at one&#39;s own risk,&quot; he said.

When asked on measures taken to protect citizens from the dangers involved in cryptocurrencies and availability of data on the same, Jaitley noted that 11 exchanges have been identified in India, and reiterated that experts groups are looking into the same.

&quot;Bitcoins are not restricted to India; it is a problem world over. There are 785 VCs in operation worldwide presently. Cryptocurrency lacks dependence and function with anonymity within a virtual community. All operations are online. We have identified 11 exchanges dealing with VCs in India. We are awaiting the official report from experts,&quot; said Jaitley.

On a related note, the Ministry of Finance on Friday issued a statement cautioning investors regarding risks of dealing with cryptocurrencies.

Linking them to &#39;Ponzi schemes&#39;, the ministry argued that unlike others, virtual currencies have no intrinsic value and are not backed by any kind of assets. The price of Bitcoin and other VCs, therefore, is entirely based on speculation, which results in spurt and volatility in their prices.

Prior to this, the users, holders, and traders of VCs were cautioned three times, in December 2013, February 2017 and December, 2017, by the RBI about potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to by investing in Bitcoin and/ or other VCs.

For the unversed, Bitcoins are a part of a rising new genre of digital payments called &#39;cryptocurrencies&#39; that work on blockchain technology with no centralised administrator.

This virtual currency emerged in the aftermath of the financial crisis and allows people to bypass banks and traditional payment processes to pay for goods and services.

Arun Jaitley further stated that an expert group was commissioned to look into the matter, adding that a report will be filed by them on the matter

Amid reports of the rising presence of bitcoins and other forms of virtual currencies (VCs) in India, Union Finance Minister Arun Jaitley on Tuesday reiterated that the former are not accepted as a lawful and legal tender in India. "Since December 24, 2013, the government and the Reserve Bank of India (RBI) have maintained the same stand on bitcoins and other forms of virtual currencies. Through multiple notifications, the two parties have notified the public time and again that bitcoins will not be considered lawful or legal tender in India," Jaitley said while responding to a question raised in the Rajya Sabha earlier today. Further, Jaitley stated that an expert group was commissioned to look into the matter, adding that a report will be filed by them on the matter. "The government does not want to take any substantial steps before the report is filed. We will look into the report and then issue corrective measures after a thorough understanding of the situation. We will also take the global scenario into consideration. However, we have clearly stated that dealing with VCs is at one's own risk," he said. When asked on measures taken to protect citizens from the dangers involved in cryptocurrencies and availability of data on the same, Jaitley noted that 11 exchanges have been identified in India, and reiterated that experts groups are looking into the same. "Bitcoins are not restricted to India; it is a problem world over. There are 785 VCs in operation worldwide presently. Cryptocurrency lacks dependence and function with anonymity within a virtual community. All operations are online. We have identified 11 exchanges dealing with VCs in India. We are awaiting the official report from experts," said Jaitley. On a related note, the Ministry of Finance on Friday issued a statement cautioning investors regarding risks of dealing with cryptocurrencies. Linking them to 'Ponzi schemes', the ministry argued that unlike others, virtual currencies have no intrinsic value and are not backed by any kind of assets. The price of Bitcoin and other VCs, therefore, is entirely based on speculation, which results in spurt and volatility in their prices. Prior to this, the users, holders, and traders of VCs were cautioned three times, in December 2013, February 2017 and December, 2017, by the RBI about potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to by investing in Bitcoin and/ or other VCs. For the unversed, Bitcoins are a part of a rising new genre of digital payments called 'cryptocurrencies' that work on blockchain technology with no centralised administrator. This virtual currency emerged in the aftermath of the financial crisis and allows people to bypass banks and traditional payment processes to pay for goods and services.

Bitcoins not legal tender in India, reiterates Jaitley

Indian shares ended lower on Monday, recording their biggest daily percentage fall in a month, with financial and IT stocks leading the losses.

The benchmark BSE Sensex closed down 244.08 points or 0.72 per cent at 33,812.75.

The broader NSE Nifty ended 95.15 points down or 0.90 per cent lower at 10,435.55.

Both the indexes ended 2017 with the biggest annual gain since 2014, with equities on a record-setting run last year.

Pharma stocks edged higher, with Sun Pharmaceutical Industries Ltd up 1.8 percent, among the top percentage gainers.

IT stocks fell, with the Nifty IT index down 0.4 percent after it climbed 12 percent last year.

Most global markets were shut on Monday.

Both the indexes ended 2017 with the biggest annual gain since 2014, with equities on a record-setting run last year.

Indian shares ended lower on Monday, recording their biggest daily percentage fall in a month, with financial and IT stocks leading the losses. The benchmark BSE Sensex closed down 244.08 points or 0.72 per cent at 33,812.75. The broader NSE Nifty ended 95.15 points down or 0.90 per cent lower at 10,435.55. Both the indexes ended 2017 with the biggest annual gain since 2014, with equities on a record-setting run last year. Pharma stocks edged higher, with Sun Pharmaceutical Industries Ltd up 1.8 percent, among the top percentage gainers. IT stocks fell, with the Nifty IT index down 0.4 percent after it climbed 12 percent last year. Most global markets were shut on Monday.

Sensex, Nifty start 2018 on weak note; see worst day in a month

The rupee edged higher by five paise to trade at 63.82 against the US dollar on the first trading day of 2018 on the back of increased selling of the American currency by banks and exporters.

At the Interbank Foreign Exchange, the rupee was trading higher by 5 paise against the previous close of 63.82. It opened higher by two paise at 63.85 and touched a high of 63.81 in early trade.

Dealers said increased selling of the dollar by exporters supported the rupee.

The rupee had appreciated 21 paise to end at a fresh four-month high of 63.87 against the greenback on Friday.

Meanwhile, stock markets <a href="http://www.wionews.com/business-economy/sensex-begins-2018-on-negative-note-down-18-points-28215">opened flat on Monday</a> with the benchmark BSE Sensex opening marginally higher at 34,059.99.

Dealers said increased selling of the dollar by exporters supported the rupee.

The rupee edged higher by five paise to trade at 63.82 against the US dollar on the first trading day of 2018 on the back of increased selling of the American currency by banks and exporters. At the Interbank Foreign Exchange, the rupee was trading higher by 5 paise against the previous close of 63.82. It opened higher by two paise at 63.85 and touched a high of 63.81 in early trade. Dealers said increased selling of the dollar by exporters supported the rupee. The rupee had appreciated 21 paise to end at a fresh four-month high of 63.87 against the greenback on Friday. Meanwhile, stock markets opened flat on Monday with the benchmark BSE Sensex opening marginally higher at 34,059.99.

Rupee starts 2018 on a better note, up 5 paise against dollar

Stock markets opened on a subdued note on the first trading day of 2018, with the benchmark BSE Sensex declining over 18 points in early trade on profit-booking after recent gains.

The 30-share index, which had gained 208.80 points in the previous session, fell 18.19 points, or 0.05 per cent, to 34,038.64 in early trade on Monday.

Technology, power and metal stocks were leading the fall in early trade.

Major losers were Wipro, Hindustan Unilever, TCS, NTPC, HDFC Ltd, ICICI Bank, Hero MotoCorp and Bajaj Auto, falling up to 0.88 per cent.

However, L&amp;T, SBI, Bharti Airtel, Tata Motors, ITC Ltd, Sun Pharma, Maruti Suzuki, Infosys and Asian Paint were trading in the positive zone.

The broad-based NSE Nifty was down 12.70 points, or 0.12 per cent, to 10,518.

Traders said profit-booking emerged in stocks that logged gains recently in absence of cues from other Asian markets that were closed for public holiday today.

The US Dow Jones Industrial Average closed 0.48 per cent down on the final day of 2017 on Friday.

The 30-share index, which had gained 208.80 points in the previous session, fell 18.19 points, or 0.05 per cent, to 34,038.64 in early trade on Monday.

Stock markets opened on a subdued note on the first trading day of 2018, with the benchmark BSE Sensex declining over 18 points in early trade on profit-booking after recent gains. The 30-share index, which had gained 208.80 points in the previous session, fell 18.19 points, or 0.05 per cent, to 34,038.64 in early trade on Monday. Technology, power and metal stocks were leading the fall in early trade. Major losers were Wipro, Hindustan Unilever, TCS, NTPC, HDFC Ltd, ICICI Bank, Hero MotoCorp and Bajaj Auto, falling up to 0.88 per cent. However, L&T, SBI, Bharti Airtel, Tata Motors, ITC Ltd, Sun Pharma, Maruti Suzuki, Infosys and Asian Paint were trading in the positive zone. The broad-based NSE Nifty was down 12.70 points, or 0.12 per cent, to 10,518. Traders said profit-booking emerged in stocks that logged gains recently in absence of cues from other Asian markets that were closed for public holiday today. The US Dow Jones Industrial Average closed 0.48 per cent down on the final day of 2017 on Friday.

Sensex begins 2018 on negative note, down 18 points

Debt-laden Reliance Communications has signed a deal to sell its wireless assets to Reliance Jio Infocomm, for a total value of nearly 240 billion rupees ($3.75 billion), two sources familiar with the matter told Reuters on Friday.

The two companies had announced late on Thursday that Reliance Communications, backed by businessman Anil Ambani, would sell all its spectrum, tower, fibre optic and other telecom infrastructure assets to Jio, which is owned by Reliance Industries and is controlled by Anil Ambani&#39;s elder brother Mukesh Ambani, India&#39;s richest person. They did not give the value of the deal.

The sale, if finalised, would mark a big step in Reliance Communication&#39;s quest to cut down its debt, which had sent its shares to record lows and led creditors such as China Development Bank (CDB) to start insolvency proceedings over missed payments.

CDB said earlier on Friday it is in talks with Reliance Communications, or RCom as it is called.

RCom shares rose as much as 29.9 per cent on Friday while Reliance Industries rose as much as 0.9 per cent.

The sale would also mark the return of the telecom operations back into the fold of Reliance Industries, which forayed into telecoms in 2002, spearheaded by the elder Ambani, under the name of Reliance Infocomm Ltd.

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A feud between the two brothers in 2005 led to the split of Reliance Industries, with Mukesh Ambani keeping the cash cow oil and gas business and Anil Ambani walking away with telecoms and power.

But Mukesh Ambani has re-entered the telecoms space with the launch of Jio in September 2016, upending the sector with cut-price data and free voice service and pushing RCom into a debt spiral.

RCom has said it is retreating from the consumer telecom space to focus on its enterprise business, and on Tuesday announced a new plan to slash its debt pile by 390 billion rupees ($6.09 billion) without any haircut by the banks, leaving it with only around 60 billion rupees in debt.

Morgan Stanley analysts said the deal would allow Jio to further expand into India&#39;s telecom space, though it would also add to its debt.

&quot;Acquisition of RCom&#39;s telecom infrastructure should bring synergies and lower costs while raising clarity on growth capex. The deal could potentially raise balance sheet leverage by 10-12 per cent near term,&quot; Morgan Stanley wrote in a note on Friday.

Reliance Jio is India&#39;s fastest growing telecoms company with a subscriber base of close to 140 million. Through the deal, Jio gets access to four bands of spectrum and 43,000 telecom towers and a countrywide fibre optic network.

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The sale, if finalised, would mark a big step in Reliance Communication's quest to cut down its debt.

Debt-laden Reliance Communications has signed a deal to sell its wireless assets to Reliance Jio Infocomm, for a total value of nearly 240 billion rupees ($3.75 billion), two sources familiar with the matter told Reuters on Friday. The two companies had announced late on Thursday that Reliance Communications, backed by businessman Anil Ambani, would sell all its spectrum, tower, fibre optic and other telecom infrastructure assets to Jio, which is owned by Reliance Industries and is controlled by Anil Ambani's elder brother Mukesh Ambani, India's richest person. They did not give the value of the deal. The sale, if finalised, would mark a big step in Reliance Communication's quest to cut down its debt, which had sent its shares to record lows and led creditors such as China Development Bank (CDB) to start insolvency proceedings over missed payments. CDB said earlier on Friday it is in talks with Reliance Communications, or RCom as it is called. RCom shares rose as much as 29.9 per cent on Friday while Reliance Industries rose as much as 0.9 per cent. The sale would also mark the return of the telecom operations back into the fold of Reliance Industries, which forayed into telecoms in 2002, spearheaded by the elder Ambani, under the name of Reliance Infocomm Ltd. × A feud between the two brothers in 2005 led to the split of Reliance Industries, with Mukesh Ambani keeping the cash cow oil and gas business and Anil Ambani walking away with telecoms and power. But Mukesh Ambani has re-entered the telecoms space with the launch of Jio in September 2016, upending the sector with cut-price data and free voice service and pushing RCom into a debt spiral. RCom has said it is retreating from the consumer telecom space to focus on its enterprise business, and on Tuesday announced a new plan to slash its debt pile by 390 billion rupees ($6.09 billion) without any haircut by the banks, leaving it with only around 60 billion rupees in debt. Morgan Stanley analysts said the deal would allow Jio to further expand into India's telecom space, though it would also add to its debt. "Acquisition of RCom's telecom infrastructure should bring synergies and lower costs while raising clarity on growth capex. The deal could potentially raise balance sheet leverage by 10-12 per cent near term," Morgan Stanley wrote in a note on Friday. Reliance Jio is India's fastest growing telecoms company with a subscriber base of close to 140 million. Through the deal, Jio gets access to four bands of spectrum and 43,000 telecom towers and a countrywide fibre optic network.

Reliance Jio to buy RCom's wireless assets in $3.75 billion deal: Sources

LG Electronics Wednesday announced signing an agreement with navigational solution provider HERE Technologies.

The collaboration would facilitate research and innovative solutions in the field of self-driving vehicles.

HERE technologies is known to provide navigational solutions to close to 100 million automobiles across the world.&nbsp;

HERE Technologies and LG Electronics now dream of developing &quot;connected cars&quot;, noted a Yonhap news report.

HERE Technologies will facilitate devising better and improved communication solutions for autonomous vehicles with the help of its sophisticated mapping technology.&nbsp; 
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LG Electronics claims to be a global player with respect to providing communications technologies solutions to automobiles.

The company reported an operating loss of nearly $26.9 million in the third quarter under its vehicle components division.

LG Electronics has been investing aggressively into the segment. 
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HERE technologies is known to provide navigational solutions to close to 100 million automobiles across the world

LG Electronics Wednesday announced signing an agreement with navigational solution provider HERE Technologies. The collaboration would facilitate research and innovative solutions in the field of self-driving vehicles. HERE technologies is known to provide navigational solutions to close to 100 million automobiles across the world. HERE Technologies and LG Electronics now dream of developing "connected cars", noted a Yonhap news report. HERE Technologies will facilitate devising better and improved communication solutions for autonomous vehicles with the help of its sophisticated mapping technology. LG Electronics claims to be a global player with respect to providing communications technologies solutions to automobiles. The company reported an operating loss of nearly $26.9 million in the third quarter under its vehicle components division. LG Electronics has been investing aggressively into the segment.

LG Electronics joins hands with HERE Technologies for self-driving cars

India is set to surpass China as the biggest importer of liquefied petroleum gas (LPG) this month as a drive to replace wood and animal dung fires for cooking boosts consumption.

Shipping data in Thomson Reuters Eikon shows LPG shipments to India will reach 2.4 million tonnes in December, pushing it ahead of top importer China, on 2.3 million tonnes, for the first time.

India&#39;s LPG purchases have surged from just 1 million tonnes a month in early 2015 on the back of a government programme to bring energy to millions of poor households relying on open fires.

&quot;The growth in India is amazing. The fact that they have grown from 140 million subsidized household connections in 2015 to 181 million now is very impressive,&quot; Ted Young, chief financial officer at Dorian LPG told Reuters.

With a fleet of 22 tankers, US-based Dorian is one of the world&#39;s biggest LPG shippers.

LPG, a mixture of propane and butane, is used for cooking and transport, as well as in the petrochemical industry. The global market is similar in size to liquefied natural gas (LNG), at around 300 million tonnes traded a year, although both are dwarfed by the market for crude oil, which stands at well over 4 billion tonnes a year.

India&#39;s average monthly imports in 2017 of about 1.7 million tonnes are well still behind China&#39;s 2.2 million tonnes, but it has jumped ahead of third-placed Japan on about 1 million tonnes.

Dorian LPG expects &quot;plenty of upside for Indian LPG&quot; imports due to rising use in cars following an Indian tax on gasoline, the company said in a presentation this month.

China, India and Japan together make up about 45 percent of global LPG purchases.

NEW SUPPLIER: USA

India&#39;s biggest supplier by a large margin is the Middle East, which has so far enjoyed a virtual supply monopoly.

However, a surge in US shale drilling, which yields LPG as a byproduct of crude oil and natural gas output, means American LPG exports have started to appear in India.

Eikon data shows the first regular US LPG shipments to India began at the start of 2017 at around 50,000 tonnes to 100,000 tonnes a month, rising to more than 200,000 tonnes in December.

While that is just a tenth of Middle Eastern shipments, U.S. LPG is becoming increasingly price competitive.

Propane at the Texan Mont Belvieu hub costs $99 cents per gallon ($516 per tonne), excluding freight. The current Saudi contract price is $590 a tonne, excluding shipping.

US suppliers have already made big inroads in Japan, currently meeting half of all demand.

India's average monthly imports in 2017 of about 1.7 million tonnes are well still behind China's 2.2 million tonnes, but it has jumped ahead of third-placed Japan on about 1 million tonnes.

India is set to surpass China as the biggest importer of liquefied petroleum gas (LPG) this month as a drive to replace wood and animal dung fires for cooking boosts consumption. Shipping data in Thomson Reuters Eikon shows LPG shipments to India will reach 2.4 million tonnes in December, pushing it ahead of top importer China, on 2.3 million tonnes, for the first time. India's LPG purchases have surged from just 1 million tonnes a month in early 2015 on the back of a government programme to bring energy to millions of poor households relying on open fires. "The growth in India is amazing. The fact that they have grown from 140 million subsidized household connections in 2015 to 181 million now is very impressive," Ted Young, chief financial officer at Dorian LPG told Reuters. With a fleet of 22 tankers, US-based Dorian is one of the world's biggest LPG shippers. LPG, a mixture of propane and butane, is used for cooking and transport, as well as in the petrochemical industry. The global market is similar in size to liquefied natural gas (LNG), at around 300 million tonnes traded a year, although both are dwarfed by the market for crude oil, which stands at well over 4 billion tonnes a year. India's average monthly imports in 2017 of about 1.7 million tonnes are well still behind China's 2.2 million tonnes, but it has jumped ahead of third-placed Japan on about 1 million tonnes. Dorian LPG expects "plenty of upside for Indian LPG" imports due to rising use in cars following an Indian tax on gasoline, the company said in a presentation this month. China, India and Japan together make up about 45 percent of global LPG purchases. NEW SUPPLIER: USA India's biggest supplier by a large margin is the Middle East, which has so far enjoyed a virtual supply monopoly. However, a surge in US shale drilling, which yields LPG as a byproduct of crude oil and natural gas output, means American LPG exports have started to appear in India. Eikon data shows the first regular US LPG shipments to India began at the start of 2017 at around 50,000 tonnes to 100,000 tonnes a month, rising to more than 200,000 tonnes in December. While that is just a tenth of Middle Eastern shipments, U.S. LPG is becoming increasingly price competitive. Propane at the Texan Mont Belvieu hub costs $99 cents per gallon ($516 per tonne), excluding freight. The current Saudi contract price is $590 a tonne, excluding shipping. US suppliers have already made big inroads in Japan, currently meeting half of all demand.

LPG imports: India set to surpass China

Oil prices on Wednesday slipped away from two-and-a-half year highs hit the previous session as the gradual resumption of flows through a major North Sea pipeline made up for supply disruption in Libya.

But the two outages in quick succession have highlighted how much tighter global oil markets have become a year into supply cuts led by OPEC and Russia.

US West Texas Intermediate (WTI) crude futures were at $59.73 a barrel at 0421 GMT, down 24 cents from their last settlement. WTI broke through $60 a barrel for the first time since June 2015 in the previous session.

Brent crude futures were at $66.71 a barrel, down 31 cents after breaking through $67 for the first time since May 2015 the previous day.

&quot;Crude spiked sharply in reaction to an explosion at a Libyan pipeline...(but) the price spike came with light volumes as London was closed for Boxing Day,&quot; said Sukrit Vijayakar, director of energy consultancy Trifecta.

Libya lost around 90,000 barrels per day (bpd) of crude oil supplies from a blast on a pipeline feeding Es Sider port on Tuesday.

Wednesday&#39;s dips were a result of the gradual return of the 450,000 bpd capacity Forties pipeline system in the North Sea. Flows through Forties will return to normal early in the New Year, operator Ineos said.

Both the Forties and Libyan outages, which together amount to around 500,000 bpd, are small in a global context where both production and demand are approaching 100 million bpd.

But the disruptions highlight that markets have tightened significantly a year into voluntary supply restraint led by top producer Russia and the Middle East-dominated Organization of the Petroleum Exporting Countries (OPEC).

Data from the US Energy Information Administration (EIA) shows that following rampant oversupply in 2015, global oil markets gradually came into balance by 2016 and started to show a slight supply deficit this year, resulting in a reduction of global fuel inventories.

EIA data implies a slight supply shortfall of 180,000 bpd for the first quarter of 2018.

OPEC and Russia started withholding production last January, and the current schedule is to continue cutting throughout 2018.

A major factor countering efforts by OPEC and Russia efforts to prop up prices is US oil production, which has soared more than 16 percent since mid-2016 and is fast approaching 10 million bpd.

Only OPEC king-pin Saudi Arabia and Russia produce more.

The latest US production figures are due to be published by the EIA on Thursday.

Wednesday's dips were a result of the gradual return of the 450,000 bpd capacity Forties pipeline system in the North Sea.

Oil prices on Wednesday slipped away from two-and-a-half year highs hit the previous session as the gradual resumption of flows through a major North Sea pipeline made up for supply disruption in Libya. But the two outages in quick succession have highlighted how much tighter global oil markets have become a year into supply cuts led by OPEC and Russia. US West Texas Intermediate (WTI) crude futures were at $59.73 a barrel at 0421 GMT, down 24 cents from their last settlement. WTI broke through $60 a barrel for the first time since June 2015 in the previous session. Brent crude futures were at $66.71 a barrel, down 31 cents after breaking through $67 for the first time since May 2015 the previous day. "Crude spiked sharply in reaction to an explosion at a Libyan pipeline...(but) the price spike came with light volumes as London was closed for Boxing Day," said Sukrit Vijayakar, director of energy consultancy Trifecta. Libya lost around 90,000 barrels per day (bpd) of crude oil supplies from a blast on a pipeline feeding Es Sider port on Tuesday. Wednesday's dips were a result of the gradual return of the 450,000 bpd capacity Forties pipeline system in the North Sea. Flows through Forties will return to normal early in the New Year, operator Ineos said. Both the Forties and Libyan outages, which together amount to around 500,000 bpd, are small in a global context where both production and demand are approaching 100 million bpd. But the disruptions highlight that markets have tightened significantly a year into voluntary supply restraint led by top producer Russia and the Middle East-dominated Organization of the Petroleum Exporting Countries (OPEC). Data from the US Energy Information Administration (EIA) shows that following rampant oversupply in 2015, global oil markets gradually came into balance by 2016 and started to show a slight supply deficit this year, resulting in a reduction of global fuel inventories. EIA data implies a slight supply shortfall of 180,000 bpd for the first quarter of 2018. OPEC and Russia started withholding production last January, and the current schedule is to continue cutting throughout 2018. A major factor countering efforts by OPEC and Russia efforts to prop up prices is US oil production, which has soared more than 16 percent since mid-2016 and is fast approaching 10 million bpd. Only OPEC king-pin Saudi Arabia and Russia produce more. The latest US production figures are due to be published by the EIA on Thursday.

Oil prices slip away from 2015 highs, but market remains tight

The Sensex and Nifty rose in early trade to scale new highs on Tuesday morning.&nbsp;

While the Sensex crossed the 34,000 mark for the first time ever, the Nifty hovered above the 10,500 mark today.&nbsp;

The 30-share index jumped 65.07 points, or 0.19 percent, to reach 34,005.37 in the early morning trade.&nbsp;

It received support from all sectoral indices, driven by technology and oil and gas. &nbsp;with gains of up to 0.90 percent.

The Nifty jumped 22.10 points, or 0.21 percent, to a new peak of 10.515.10.

Among the BSE indices, realty index gained the most by 0.89 per cent, followed by metal 0.87 per cent, infrastructure 0.53 per cent and oil &amp; gas 0.53 per cent.

On the other hand, banking index was down by 0.24 per cent and consumer durables by 0.12 per cent.

The top five Sensex gainers were ONGC (+1.24%), Wipro (+0.85%), Tata Steel (+0.85%), Asian Paints (+0.85%) and TCS (+0.73%), while the major losers were ICICI Bank (-0.71%), State Bank of India (-0.67%), Infosys (-0.66%), M&amp;M (-0.48%) and Coal India (-0.39%).

The Sensex opened at 33,980.76, moving up to 34,005.37 a short while later.?

The Sensex and Nifty rose in early trade to scale new highs on Tuesday morning. While the Sensex crossed the 34,000 mark for the first time ever, the Nifty hovered above the 10,500 mark today. The 30-share index jumped 65.07 points, or 0.19 percent, to reach 34,005.37 in the early morning trade. It received support from all sectoral indices, driven by technology and oil and gas. with gains of up to 0.90 percent. The Nifty jumped 22.10 points, or 0.21 percent, to a new peak of 10.515.10. Among the BSE indices, realty index gained the most by 0.89 per cent, followed by metal 0.87 per cent, infrastructure 0.53 per cent and oil & gas 0.53 per cent. On the other hand, banking index was down by 0.24 per cent and consumer durables by 0.12 per cent. The top five Sensex gainers were ONGC (+1.24%), Wipro (+0.85%), Tata Steel (+0.85%), Asian Paints (+0.85%) and TCS (+0.73%), while the major losers were ICICI Bank (-0.71%), State Bank of India (-0.67%), Infosys (-0.66%), M&M (-0.48%) and Coal India (-0.39%).

Sensex tops 34,000 for first time, Nifty hits record high

India&#39;s Reliance Communications Ltd outlined on Tuesday a plan to cut its debt by 390 billion rupees ($6.09 billion) underpinned by the sale of assets for which some non-binding offers had already been made.

The plan, which sent the company&#39;s shares soaring, expands on one it announced in late October. Reliance Communications (RCom) said on Tuesday it would involve no write-offs to lenders or bondholders, nor conversion of debt to equity.

The firm will exit the &quot;strategic debt restructuring&quot; process that allows lenders to conduct takeovers by swapping loans for equity, Anil Ambani, the businessman backing the company, told a news conference on Tuesday.

Foreign lenders have supported the plan, and RCom has received non-binding offers for some of assets, through whose sales it hoped to raise about 250 billion rupees by March, he added.

The announcement sent the company&#39;s shares up to almost 40 percent, and marks its latest attempt to remove a big cloud hanging over what was once the flagship of Ambani&#39;s business empire but has been hit with concerns about its ability to repay its debt after failing to pay interest on some of it.

Rising competition in India&#39;s telecom sector, including the entry of start-up Jio - backed by Anil Ambani&#39;s brother Mukesh - has trimmed margins in India&#39;s telecom sector to wafer-thin levels.

Competing in it would require &quot;a pipeline into the Reserve Bank of India&#39;s printing press,&quot; Anil Ambani said at a news briefing in Mumbai.

&quot;It is a guzzler of currency... It has engulfed many, many people and many many companies.&quot;

RCom had net debt of 450 billion rupees at the end of October, according to a slide presented on Tuesday, putting it among India&rsquo;s most indebted companies.

As part of Tuesday&#39;s plan, RCom will shift 100 billion rupees of its debt into a special purpose vehicle that will develop the company&#39;s real estate assets in the suburbs of Mumbai.

RCom will also receive investments from private equity companies, helping further reduce debt, Ambani added, without providing details.

The asset sales would help RCom reduce its debt to below 60 billion rupees, he said, estimating the remaining enterprise-focused business&#39; value at 150 billion rupees.

RCom has previously tried and failed to cut its debt, including through merging with fellow telecoms operator Aircel and by selling a stake in the firm to Canada&#39;s Brookfield.

Its shares slid to record lows after it presented its last plan in October.

Lenders and business partners have taken it to court after it missed debt payments.

China Development Bank last month initiated insolvency proceedings, saying a large amount of principal and interest from RCom was overdue. The lender was not immediately available for comment outside of business hours.

Ambani did not say whether CDB had signed off on the new plan, but noted he had landed at 4 a.m. from Beijing without explaining the reason for his visit to China.

&nbsp;

India's Reliance Communications Ltd outlined a plan to cut its debt by 390 billion rupees ($6.09 billion)

India's Reliance Communications Ltd outlined on Tuesday a plan to cut its debt by 390 billion rupees ($6.09 billion) underpinned by the sale of assets for which some non-binding offers had already been made. The plan, which sent the company's shares soaring, expands on one it announced in late October. Reliance Communications (RCom) said on Tuesday it would involve no write-offs to lenders or bondholders, nor conversion of debt to equity. The firm will exit the "strategic debt restructuring" process that allows lenders to conduct takeovers by swapping loans for equity, Anil Ambani, the businessman backing the company, told a news conference on Tuesday. Foreign lenders have supported the plan, and RCom has received non-binding offers for some of assets, through whose sales it hoped to raise about 250 billion rupees by March, he added. The announcement sent the company's shares up to almost 40 percent, and marks its latest attempt to remove a big cloud hanging over what was once the flagship of Ambani's business empire but has been hit with concerns about its ability to repay its debt after failing to pay interest on some of it. Rising competition in India's telecom sector, including the entry of start-up Jio - backed by Anil Ambani's brother Mukesh - has trimmed margins in India's telecom sector to wafer-thin levels. Competing in it would require "a pipeline into the Reserve Bank of India's printing press," Anil Ambani said at a news briefing in Mumbai. "It is a guzzler of currency... It has engulfed many, many people and many many companies." RCom had net debt of 450 billion rupees at the end of October, according to a slide presented on Tuesday, putting it among India’s most indebted companies. As part of Tuesday's plan, RCom will shift 100 billion rupees of its debt into a special purpose vehicle that will develop the company's real estate assets in the suburbs of Mumbai. RCom will also receive investments from private equity companies, helping further reduce debt, Ambani added, without providing details. The asset sales would help RCom reduce its debt to below 60 billion rupees, he said, estimating the remaining enterprise-focused business' value at 150 billion rupees. RCom has previously tried and failed to cut its debt, including through merging with fellow telecoms operator Aircel and by selling a stake in the firm to Canada's Brookfield. Its shares slid to record lows after it presented its last plan in October. Lenders and business partners have taken it to court after it missed debt payments. China Development Bank last month initiated insolvency proceedings, saying a large amount of principal and interest from RCom was overdue. The lender was not immediately available for comment outside of business hours. Ambani did not say whether CDB had signed off on the new plan, but noted he had landed at 4 a.m. from Beijing without explaining the reason for his visit to China.

Anil Ambani's RCom outlines new debt reduction plan with no write-offs

Shares in several of Apple Inc&#39;s Asian suppliers fell for a second straight day on Tuesday, hurt by a report from Taiwan&#39;s Economic Daily and some analysts saying that iPhone X demand could come in below expectations in the first quarter.

Apple will slash its sales forecast for the iPhone X in the quarter to 30 million units, the Taiwanese newspaper said on Monday, citing unidentified sources - down from what it said was an initial plan of 50 million units.

Apple has not publicly disclosed quarterly sales targets for the iPhone X, which went on sale in November.

Some analysts have also flagged disappointing demand. US-based JL Warren Capital is predicting shipments of just 25 million units as consumers baulk at the &quot;high price point and a lack of interesting innovations&quot;.

Chinese broker Sinolink Securities said it expects the model&#39;s price would dampen consumer enthusiasm for the product, adding that slow production rates could also hinder sales.

But others were more bullish.

&quot;Our work continues to suggest the March and June quarters will have a significant amount of iPhone X make-up shipments,&quot; Chicago-based Loop Capital said in a note last week, forecasting shipments of 40-45 million units in the first quarter of 2018, up from an estimated 30-35 million units in the current quarter.

Analysts at Jefferies have also forecast around 40 million iPhone X sales for the first quarter.

An Apple spokeswoman said the company does not comment on market rumors. During a trip to China this month Apple CEO Tim Cook said he &quot;couldn&#39;t be happier&quot; with the demand for the iPhone X in the country.

Apple suppliers that were most hit included Genius Electronic Optical Co Ltd which dropped 2.4 percent on Tuesday to take its losses this week to 11.4 percent. Pegatron Corp also fell on both days, losing 3.2 percent this week.

But falls for Foxconn, one of Apple&#39;s main suppliers formally known as Hon Hai Precision Industry Co Ltd, were milder and it has lost only 1.8 percent over the two days.

A Reuters analysis of Chinese social media shows that interest in the iPhone X - which spiked around its launch - has not kept pace with the highly popular iPhone 6 released in 2014, which helped then drive massive sales for Apple in China.

There were only 4.97 million Weibo posts mentioning the iPhone X so far in December compared to over 11 million for the iPhone 6 in the equivalent period in 2014, the analysis showed.

Apple&#39;s stock has risen over 50 percent in 2017 and is currently valued at just under $900 billion.

Shares in several of Apple Inc's Asian suppliers fell for a second straight day on Tuesday

Shares in several of Apple Inc's Asian suppliers fell for a second straight day on Tuesday, hurt by a report from Taiwan's Economic Daily and some analysts saying that iPhone X demand could come in below expectations in the first quarter. Apple will slash its sales forecast for the iPhone X in the quarter to 30 million units, the Taiwanese newspaper said on Monday, citing unidentified sources - down from what it said was an initial plan of 50 million units. Apple has not publicly disclosed quarterly sales targets for the iPhone X, which went on sale in November. Some analysts have also flagged disappointing demand. US-based JL Warren Capital is predicting shipments of just 25 million units as consumers baulk at the "high price point and a lack of interesting innovations". Chinese broker Sinolink Securities said it expects the model's price would dampen consumer enthusiasm for the product, adding that slow production rates could also hinder sales. But others were more bullish. "Our work continues to suggest the March and June quarters will have a significant amount of iPhone X make-up shipments," Chicago-based Loop Capital said in a note last week, forecasting shipments of 40-45 million units in the first quarter of 2018, up from an estimated 30-35 million units in the current quarter. Analysts at Jefferies have also forecast around 40 million iPhone X sales for the first quarter. An Apple spokeswoman said the company does not comment on market rumors. During a trip to China this month Apple CEO Tim Cook said he "couldn't be happier" with the demand for the iPhone X in the country. Apple suppliers that were most hit included Genius Electronic Optical Co Ltd which dropped 2.4 percent on Tuesday to take its losses this week to 11.4 percent. Pegatron Corp also fell on both days, losing 3.2 percent this week. But falls for Foxconn, one of Apple's main suppliers formally known as Hon Hai Precision Industry Co Ltd, were milder and it has lost only 1.8 percent over the two days. A Reuters analysis of Chinese social media shows that interest in the iPhone X - which spiked around its launch - has not kept pace with the highly popular iPhone 6 released in 2014, which helped then drive massive sales for Apple in China. There were only 4.97 million Weibo posts mentioning the iPhone X so far in December compared to over 11 million for the iPhone 6 in the equivalent period in 2014, the analysis showed. Apple's stock has risen over 50 percent in 2017 and is currently valued at just under $900 billion.

Apple suppliers drop on report of weak iPhone X demand; analysts' views mixed

State-owned Bharat Sanchar Nigam Ltd (BSNL) is set to launch its 4G services from Kerala next month, followed by Odisha, a top company official said.

The telecom corporation hopes that the ensuing 4G launch on?Long Term Evolution route (a standard for?high-speed wireless communication) will enable its mobile customers to enjoy faster data speeds and improve its user experience.

&quot;We are going to start 4G from Kerala. That will be our first circle on 4G LTE. We will initially focus on those areas where 3G coverage is low,&quot; BSNL Chairman and Managing Director Anupam Shrivastava said.

This will be followed by Odisha, a revenue positive circle for BSNL, he added.

The state-owned telco - which competes with private operators like Bharti Airtel, Vodafone and Jio that already have an established 4G footprint - expects the 5MHz spectrum it currently has in the 2100 MHz band to be sufficient for the initial launch of its 4G services.

But to expand the 4G service to rest of the country, BSNL will require additional spectrum.

For this, BSNL is seeking another 5MHz spectrum in the 2100 MHz band, which it wants to fund by offering additional equity to its promoter, the government.

&quot;Once the additional 5MHz spectrum comes to us, we will start rolling out in Bengaluru, Hyderabad and other places. So the network will become 2G, 3G and 4G with enhanced data capability,&quot;?Shrivastava added.

BSNL, which has 10 crore mobile customers across India (except Mumbai and Delhi circles), expects to roll out 10,000 4G mobile towers by March 2018.

Once the additional spectrum comes in, this number will rise, he added.

The company plans to have a separate brand identity for 4G services, Shrivastava said, adding that it will be announced at the time of rollout of services.

To expand the 4G service to rest of the country, BSNL will require additional spectrum.

State-owned Bharat Sanchar Nigam Ltd (BSNL) is set to launch its 4G services from Kerala next month, followed by Odisha, a top company official said. The telecom corporation hopes that the ensuing 4G launch on?Long Term Evolution route (a standard for?high-speed wireless communication) will enable its mobile customers to enjoy faster data speeds and improve its user experience. "We are going to start 4G from Kerala. That will be our first circle on 4G LTE. We will initially focus on those areas where 3G coverage is low," BSNL Chairman and Managing Director Anupam Shrivastava said. This will be followed by Odisha, a revenue positive circle for BSNL, he added. The state-owned telco - which competes with private operators like Bharti Airtel, Vodafone and Jio that already have an established 4G footprint - expects the 5MHz spectrum it currently has in the 2100 MHz band to be sufficient for the initial launch of its 4G services. But to expand the 4G service to rest of the country, BSNL will require additional spectrum. For this, BSNL is seeking another 5MHz spectrum in the 2100 MHz band, which it wants to fund by offering additional equity to its promoter, the government. "Once the additional 5MHz spectrum comes to us, we will start rolling out in Bengaluru, Hyderabad and other places. So the network will become 2G, 3G and 4G with enhanced data capability,"?Shrivastava added. BSNL, which has 10 crore mobile customers across India (except Mumbai and Delhi circles), expects to roll out 10,000 4G mobile towers by March 2018. Once the additional spectrum comes in, this number will rise, he added. The company plans to have a separate brand identity for 4G services, Shrivastava said, adding that it will be announced at the time of rollout of services.

BSNL to start 4G services from Kerala in January, 2018

Corporate thought-leader and Infosys co-founder NR Narayana Murthy has flayed the high wage hikes that senior managements have been apportioning to themselves when the software industry is in trying times and has advised them to make &quot;sacrifices&quot; to maintain common man&#39;s faith in capitalism.

Conceding that times are difficult for the IT services sector, Murthy dismissed the commonly attributed threats of artificial intelligence and automation as &quot;more hype than reality&quot;.

Terming the trend of no hikes for juniors and freshers as &quot;worrisome,&quot; Murthy rued that the senior level people have been taking handsome hikes.

&quot;I think that is not the way to make capitalism acceptable to the larger masses in a country that has huge poverty,&quot; he said, speaking at the IIT-Bombay over the weekend.

&quot;If we believe in capitalism, if we believe that is the best solution for the country to move forward, then the leaders of capitalism will have to demonstrate self-restraints in apportioning to themselves the part of the benefits that come out of running companies, Murthy, who mostly flies the economy class, added.

Murthy, a strong proponent of &quot;compassionate capitalism&quot; since his days in the company, did not make any reference to Infosys. It can be noted that over the past few months, Murthy had gone public with his displeasure over senior executive compensation at Infosys.

Speaking before the students at the prestigious institute, Murthy said in the last seven years, the salaries of freshers in the software industry have stayed stagnant while the same for senior-level employees have grown by up to 1,000 per cent.

&quot;If all of us make sacrifices, then the youngsters will understand,&quot; he said.

He said the IT sector is passing through a trough that is cyclical in nature and may occur once a few years.

One of the reasons for this is the investments in IT done by the developed world clients in the past, he said, adding they are waiting to reap the benefits of the same before starting to invest again.

However, change in the technological landscape where automation and artificial intelligence are said to be making deeper in-roads was dismissed by him.

&quot;There is this whole thing about automation and artificial intelligence. That is much more hype than the reality, at-least in the software services,&quot; Murthy said.

The domestic IT sector employs over 4 million directly and its revenues have crossed over USD 150 billion, according to industry lobby Nasscom.

The lobby warned that the rate of hiring is slowing down, while some IT companies concede that a fewer number of people are required to do the work for the same revenue billing.

Many industry reports had in the past highlighted steep decline in hiring in the software space primarily because of automation which has been eating up tens of thousands of human jobs annually. So far this fiscal year, there has no net increase in hiring by the industry.

Terming the trend of no hikes for juniors and freshers as "worrisome," Murthy rued that the senior level people have been taking handsome hikes.

Corporate thought-leader and Infosys co-founder NR Narayana Murthy has flayed the high wage hikes that senior managements have been apportioning to themselves when the software industry is in trying times and has advised them to make "sacrifices" to maintain common man's faith in capitalism. Conceding that times are difficult for the IT services sector, Murthy dismissed the commonly attributed threats of artificial intelligence and automation as "more hype than reality". Terming the trend of no hikes for juniors and freshers as "worrisome," Murthy rued that the senior level people have been taking handsome hikes. "I think that is not the way to make capitalism acceptable to the larger masses in a country that has huge poverty," he said, speaking at the IIT-Bombay over the weekend. "If we believe in capitalism, if we believe that is the best solution for the country to move forward, then the leaders of capitalism will have to demonstrate self-restraints in apportioning to themselves the part of the benefits that come out of running companies, Murthy, who mostly flies the economy class, added. Murthy, a strong proponent of "compassionate capitalism" since his days in the company, did not make any reference to Infosys. It can be noted that over the past few months, Murthy had gone public with his displeasure over senior executive compensation at Infosys. Speaking before the students at the prestigious institute, Murthy said in the last seven years, the salaries of freshers in the software industry have stayed stagnant while the same for senior-level employees have grown by up to 1,000 per cent. "If all of us make sacrifices, then the youngsters will understand," he said. He said the IT sector is passing through a trough that is cyclical in nature and may occur once a few years. One of the reasons for this is the investments in IT done by the developed world clients in the past, he said, adding they are waiting to reap the benefits of the same before starting to invest again. However, change in the technological landscape where automation and artificial intelligence are said to be making deeper in-roads was dismissed by him. "There is this whole thing about automation and artificial intelligence. That is much more hype than the reality, at-least in the software services," Murthy said. The domestic IT sector employs over 4 million directly and its revenues have crossed over USD 150 billion, according to industry lobby Nasscom. The lobby warned that the rate of hiring is slowing down, while some IT companies concede that a fewer number of people are required to do the work for the same revenue billing. Many industry reports had in the past highlighted steep decline in hiring in the software space primarily because of automation which has been eating up tens of thousands of human jobs annually. So far this fiscal year, there has no net increase in hiring by the industry.

Narayana Murthy trashes artificial intelligence as hype, asks IT leaders to be less greedy

The US economy may be basking in the warm glow of solid growth, but economists are nervously eyeing a trend in the bond market that could spell stormy weather ahead.&nbsp;Even though President Donald Trump is touting unemployment at its lowest level in 17 years and Wall Street soaring to new heights, economists are worried about one indicator that is often a harbinger of recession: the yield curve.

&quot;Since 1950, each recession has been preceded by a reversal of the yield curve&quot;, said Christopher Low, chief economist of FTN Financial.&nbsp;This closely scrutinized graph maps the difference in yield, or return on investment, of short- and long-term US Treasury debt, usually comparing two-year notes to 10-year bonds.&nbsp;

Normally, the shorter the investment, the lower the yield, and conversely, the longer the investment, the higher the return, to offset the greater risks of losing access to funds for an extended period.&nbsp;But for the past year, the yield curve has been flattening as the return on short-term debt has been getting close to long-term yields, possible signaling eroding confidence in the economy&#39;s performance in the coming years.&nbsp;

The spread between the yield on two- and 10-year Treasury paper fell from 135 in December 2016 to 51 basis points on December 15, the lowest since October 2007 -- just before the start of the global financial crisis.&nbsp;Worse still would be if the yield curve inverts, as short-term returns outpace the longer-dated debt -- meaning the spread is negative -- and if officials ignore the warning. The yield curve inversion &quot;could be heralding a contraction of the economy,&quot; says Gary Duncan, chief economist at Oxford Economics.

Fed policy&nbsp;

As Gregori Volokhine, of Meeschaert Financial Services, explained: &quot;An inversion of the curve indicates that investors do not have confidence in the future&quot;.&nbsp;The main factor behind the flattening of the yield curve is the US central bank&#39;s moves to raise the benchmark interest rate five times since the end of 2015, including three increases this year and three more expected in 2018.

The long-term yields fluctuate more in line with growth and inflation expectations. And while growth prospects have been revised upwards for next year -- in part due to the impact of the massive corporate tax cuts just approved by Congress -- the Federal Reserve&#39;s inflation target will not be reached until 2019, according to its latest forecasts.&nbsp;

The Fed&#39;s preferred inflation measure was only 1.6 percent year-on-year in October.&nbsp;Two voting members of the Fed&#39;s policy committee -- including Minneapolis Fed President Neel Kashkari -- dissented from the December 13 decision to raise rates, preferring to wait for inflation to rise further.

&#39;Worrying&#39;

Kashkari also mentioned his concerns about the yield curve and the signal it is sending to policymakers.&nbsp;&quot;While the yield curve has not yet inverted, the bond market is telling us that the odds of a recession are increasing,&quot; he said in a statement explaining his opposition to raising rates again.

Duncan of Oxford Economics cautioned that &quot;if the Fed tightens its policy too quickly, the markets anticipate a slowdown in the economy in the longer term&quot; as credit becomes more expensive.&nbsp;However, outgoing Fed Chair Janet Yellen downplayed those fears.

&quot;There are good reasons to think that the relationship between the slope of the yield curve and the business cycle may have changed,&quot; Yellen said in her press conference last week.&nbsp;FTN&#39;s Low said Yellen could be making the same mistake as her predecessors Alan Greenspan in 1998 and Ben Bernanke in 2006, who each saw recessions after the yield curve inverted.&nbsp;

&quot;Janet Yellen is making the same speech,&quot; Low said. &quot;This is worrying&quot;. Like most analysts, Low does not anticipate an inversion before 2019, or a recession until &quot;early 2020&quot;.&nbsp;Historically the economy has seen four to six quarters between a curve inversion and the start a recession.

Of course, not every flat curve brings on an economic downturn, and some economists agree with Yellen that it may be too early to panic.&nbsp;Noted economist Mohamed El-Erian, the chief economic adviser at Allianz SE, the parent company of PIMCO, notes several reasons the yield curve could steepen, including many indicators signaling the economy still has room to expand and inflation to pick up.

If it doesn&#39;t, the Fed could reverse course quickly, he wrote in a blog post.&nbsp;In addition, &quot;the synchronized pick-up in growth in the rest of the world is supportive of the US expansion&quot;.

Economists are worried about one indicator that is often a harbinger of recession: the yield curve

The US economy may be basking in the warm glow of solid growth, but economists are nervously eyeing a trend in the bond market that could spell stormy weather ahead. Even though President Donald Trump is touting unemployment at its lowest level in 17 years and Wall Street soaring to new heights, economists are worried about one indicator that is often a harbinger of recession: the yield curve. "Since 1950, each recession has been preceded by a reversal of the yield curve", said Christopher Low, chief economist of FTN Financial. This closely scrutinized graph maps the difference in yield, or return on investment, of short- and long-term US Treasury debt, usually comparing two-year notes to 10-year bonds. Normally, the shorter the investment, the lower the yield, and conversely, the longer the investment, the higher the return, to offset the greater risks of losing access to funds for an extended period. But for the past year, the yield curve has been flattening as the return on short-term debt has been getting close to long-term yields, possible signaling eroding confidence in the economy's performance in the coming years. The spread between the yield on two- and 10-year Treasury paper fell from 135 in December 2016 to 51 basis points on December 15, the lowest since October 2007 -- just before the start of the global financial crisis. Worse still would be if the yield curve inverts, as short-term returns outpace the longer-dated debt -- meaning the spread is negative -- and if officials ignore the warning. The yield curve inversion "could be heralding a contraction of the economy," says Gary Duncan, chief economist at Oxford Economics. Fed policy As Gregori Volokhine, of Meeschaert Financial Services, explained: "An inversion of the curve indicates that investors do not have confidence in the future". The main factor behind the flattening of the yield curve is the US central bank's moves to raise the benchmark interest rate five times since the end of 2015, including three increases this year and three more expected in 2018. The long-term yields fluctuate more in line with growth and inflation expectations. And while growth prospects have been revised upwards for next year -- in part due to the impact of the massive corporate tax cuts just approved by Congress -- the Federal Reserve's inflation target will not be reached until 2019, according to its latest forecasts. The Fed's preferred inflation measure was only 1.6 percent year-on-year in October. Two voting members of the Fed's policy committee -- including Minneapolis Fed President Neel Kashkari -- dissented from the December 13 decision to raise rates, preferring to wait for inflation to rise further. 'Worrying' Kashkari also mentioned his concerns about the yield curve and the signal it is sending to policymakers. "While the yield curve has not yet inverted, the bond market is telling us that the odds of a recession are increasing," he said in a statement explaining his opposition to raising rates again. Duncan of Oxford Economics cautioned that "if the Fed tightens its policy too quickly, the markets anticipate a slowdown in the economy in the longer term" as credit becomes more expensive. However, outgoing Fed Chair Janet Yellen downplayed those fears. "There are good reasons to think that the relationship between the slope of the yield curve and the business cycle may have changed," Yellen said in her press conference last week. FTN's Low said Yellen could be making the same mistake as her predecessors Alan Greenspan in 1998 and Ben Bernanke in 2006, who each saw recessions after the yield curve inverted. "Janet Yellen is making the same speech," Low said. "This is worrying". Like most analysts, Low does not anticipate an inversion before 2019, or a recession until "early 2020". Historically the economy has seen four to six quarters between a curve inversion and the start a recession. Of course, not every flat curve brings on an economic downturn, and some economists agree with Yellen that it may be too early to panic. Noted economist Mohamed El-Erian, the chief economic adviser at Allianz SE, the parent company of PIMCO, notes several reasons the yield curve could steepen, including many indicators signaling the economy still has room to expand and inflation to pick up. If it doesn't, the Fed could reverse course quickly, he wrote in a blog post. In addition, "the synchronized pick-up in growth in the rest of the world is supportive of the US expansion".

Could the 'curve' be warning of a US recession?

Bitcoin plunged by 30 per cent to below $12,000 on Friday as investors dumped the cryptocurrency after its sharp rise to a peak close to $20,000 prompted warnings by experts of a bubble.&nbsp;

After falling to as low as $11,159, it recouped some losses to trade above $14,000 on the Bitstamp platform, down 9 percent on the day. It is down around 25 per cent this week, its largest weekly loss since April 2013.&nbsp;It capped a brutal week that had been touted as a new era of mainstream trading for the digital currency when bitcoin futures debuted on CME Group Inc, the world&#39;s largest derivatives market on Sunday.&nbsp;

Friday&#39;s fall bled into the US&nbsp;stock market, where shares of companies that have lashed their fortunes to bitcoin or blockchain - its underlying technology - took a knock. Long Blockchain Corp, Overstock.com Inc, Riot Blockchain Inc and Marathon Patent Group Inc lost between 2 per cent and 15 per cent.

The biggest and best-known cryptocurrency has risen around twentyfold since the start of the year, climbing from less than $1,000 to as high as $19,666 on the Luxembourg-based Bitstamp exchange on Sunday and to over $20,000 on other exchanges. But it has fallen each day since.

In the futures market, bitcoin one-month futures on Cboe Global Markets were earlier halted due to the steep price drop, while those trading on the CME hit the limit down threshold.&nbsp;&quot;The crypto markets have experienced several flash crashes over the past few years but we do believe there has been some overvaluation in the market, particularly over recent months,&quot; said Jamie Burke, CEO at venture capital firm Outlier Ventures.

&quot;It&#39;s much more likely this is a natural correction following over-exuberant market sentiment&quot;.&nbsp;On Friday, Mike Novogratz, the former macro hedge fund manager at Fortress Investment Group, told <a href="https://bloom.bg/2BA9gGN">Bloomberg</a> he had halted plans to launch a crypto-currency hedge fund.&nbsp;

&quot;We didn&#39;t like market conditions and we wanted to re-evaluate what we&#39;re doing&quot;, he told Bloomberg.&nbsp;His Galaxy Digital Assets Fund was due to start on December 15, but he called clients on December 12 and told them he had changed his mind, Novogratz said in an interview with Bloomberg.

Novogratz told Reuters in November he hoped to raise about $500 million, making it the largest fund of its kind.&nbsp;Warnings about the risks of investing in the unregulated market have increased - Denmark&#39;s central bank governor called it a &quot;deadly&quot; gamble - and there have been worries about the security of exchanges on which cryptocurrencies are bought and sold.

South Korean cryptocurrency exchange Youbit said on Tuesday it is shutting down and is filing for bankruptcy after it was hacked for the second time this year.&nbsp;Coinbase, a US&nbsp;company that runs one of the biggest exchanges and provides digital &quot;wallets&quot; for storing bitcoins, said on Wednesday it would investigate accusations of insider trading, following a sharp rise in the price of a bitcoin spin-off hours before it announced support for it.

On Friday, Coinbase said it had temporarily suspended buying and selling of bitcoin due to high traffic.

Crypto-Rivals

As some rival cryptocurrencies slid along with bitcoin, the total estimated value of the crypto market fell to as low as $440 billion, according to industry website Coinmarketcap, having neared $650 billion just a day earlier.&nbsp;But other cryptocurrencies rose this week, with investors moving into cheaper digital coins, rather than cashing out of the sector.

Ethereum, the second-biggest cryptocurrency by market size, soared to almost $900 earlier in the week, from around $500 a week earlier. Ripple, the third-biggest, has more than quadrupled in price since Monday.&nbsp;Stephen Innes, head of trading in Asia-Pacific for retail FX broker Oanda in Singapore, said there had also been moves out of bitcoin into Bitcoin Cash, a clone of the original cryptocurrency. Oanda does not handle trading in bitcoin.

&quot;Most of it is unsophisticated retail traders getting burned badly&quot;, Innes said on Bitcoin&#39;s recent retreat.&nbsp;While some say the launch by CME and its rival Cboe Global Markets of bitcoin futures over the last two weeks has given the digital currency some perceived legitimacy, many policymakers remain sceptical.

Bitcoin is known to go through wild swings. In November, it tumbled almost 30 per cent in four days from $7,888 to $5,555. In September, it fell 40 per cent from $4,979 to $2,972.

Bitcoin along with some other cryptocurrencies slid, the total estimated value of the crypto market fell to as low as $440 billion, having neared $650 billion just a day earlier

Bitcoin plunged by 30 per cent to below $12,000 on Friday as investors dumped the cryptocurrency after its sharp rise to a peak close to $20,000 prompted warnings by experts of a bubble. After falling to as low as $11,159, it recouped some losses to trade above $14,000 on the Bitstamp platform, down 9 percent on the day. It is down around 25 per cent this week, its largest weekly loss since April 2013. It capped a brutal week that had been touted as a new era of mainstream trading for the digital currency when bitcoin futures debuted on CME Group Inc, the world's largest derivatives market on Sunday. Friday's fall bled into the US stock market, where shares of companies that have lashed their fortunes to bitcoin or blockchain - its underlying technology - took a knock. Long Blockchain Corp, Overstock.com Inc, Riot Blockchain Inc and Marathon Patent Group Inc lost between 2 per cent and 15 per cent. The biggest and best-known cryptocurrency has risen around twentyfold since the start of the year, climbing from less than $1,000 to as high as $19,666 on the Luxembourg-based Bitstamp exchange on Sunday and to over $20,000 on other exchanges. But it has fallen each day since. In the futures market, bitcoin one-month futures on Cboe Global Markets were earlier halted due to the steep price drop, while those trading on the CME hit the limit down threshold. "The crypto markets have experienced several flash crashes over the past few years but we do believe there has been some overvaluation in the market, particularly over recent months," said Jamie Burke, CEO at venture capital firm Outlier Ventures. "It's much more likely this is a natural correction following over-exuberant market sentiment". On Friday, Mike Novogratz, the former macro hedge fund manager at Fortress Investment Group, told Bloomberg he had halted plans to launch a crypto-currency hedge fund. "We didn't like market conditions and we wanted to re-evaluate what we're doing", he told Bloomberg. His Galaxy Digital Assets Fund was due to start on December 15, but he called clients on December 12 and told them he had changed his mind, Novogratz said in an interview with Bloomberg. Novogratz told Reuters in November he hoped to raise about $500 million, making it the largest fund of its kind. Warnings about the risks of investing in the unregulated market have increased - Denmark's central bank governor called it a "deadly" gamble - and there have been worries about the security of exchanges on which cryptocurrencies are bought and sold. South Korean cryptocurrency exchange Youbit said on Tuesday it is shutting down and is filing for bankruptcy after it was hacked for the second time this year. Coinbase, a US company that runs one of the biggest exchanges and provides digital "wallets" for storing bitcoins, said on Wednesday it would investigate accusations of insider trading, following a sharp rise in the price of a bitcoin spin-off hours before it announced support for it. On Friday, Coinbase said it had temporarily suspended buying and selling of bitcoin due to high traffic. Crypto-Rivals As some rival cryptocurrencies slid along with bitcoin, the total estimated value of the crypto market fell to as low as $440 billion, according to industry website Coinmarketcap, having neared $650 billion just a day earlier. But other cryptocurrencies rose this week, with investors moving into cheaper digital coins, rather than cashing out of the sector. Ethereum, the second-biggest cryptocurrency by market size, soared to almost $900 earlier in the week, from around $500 a week earlier. Ripple, the third-biggest, has more than quadrupled in price since Monday. Stephen Innes, head of trading in Asia-Pacific for retail FX broker Oanda in Singapore, said there had also been moves out of bitcoin into Bitcoin Cash, a clone of the original cryptocurrency. Oanda does not handle trading in bitcoin. "Most of it is unsophisticated retail traders getting burned badly", Innes said on Bitcoin's recent retreat. While some say the launch by CME and its rival Cboe Global Markets of bitcoin futures over the last two weeks has given the digital currency some perceived legitimacy, many policymakers remain sceptical. Bitcoin is known to go through wild swings. In November, it tumbled almost 30 per cent in four days from $7,888 to $5,555. In September, it fell 40 per cent from $4,979 to $2,972.

Bitcoin falls 30 per cent, posts worst week since 2013

Chinese smartphone maker Gionee has launched its&nbsp;new handset called S10 Lite.

The device will be available for Rs&nbsp;15,999 in India and is&nbsp;expected to hit the markets on&nbsp;December 23.&nbsp;

Gionee S10 Lite comes with a 13MP primary camera with auto-focus and flash.

The 16MP selfie camera (front) comes with&nbsp;&#39;group selfie&#39; and &#39;bokeh selfie&#39; features.&nbsp;

The device boasts of a 3,100mAh battery and comes equipped with a fingerprint sensor.&nbsp;

S10 Lite is powered by Qualcomm Snapdragon MSM8920 processor&nbsp;along&nbsp;with 4GB RAM and 32GB internal storage, expandable up to 256GB.

On the OS&nbsp;front, the handset runs on Gionee&#39;s custom Amigo 4.0 based on Android 7.1 Nougat.

 
&nbsp;

The device will be available for Rs 15,999 in India and is expected to hit the markets on December 23

Chinese smartphone maker Gionee has launched its new handset called S10 Lite. The device will be available for Rs 15,999 in India and is expected to hit the markets on December 23. Gionee S10 Lite comes with a 13MP primary camera with auto-focus and flash. The 16MP selfie camera (front) comes with 'group selfie' and 'bokeh selfie' features. The device boasts of a 3,100mAh battery and comes equipped with a fingerprint sensor. S10 Lite is powered by Qualcomm Snapdragon MSM8920 processor along with 4GB RAM and 32GB internal storage, expandable up to 256GB. On the OS front, the handset runs on Gionee's custom Amigo 4.0 based on Android 7.1 Nougat.

Gionee 'selfie-centric' S10 Lite launched in India for Rs 15,999

Dalal Street rejoiced as Nifty hits 10,500 for the first time. Sensex also rallied up over 200 points today.&nbsp;

Earlier today, S&amp;P BSE Sensex was shy of 46 points from hitting 34,000.

NSE Nifty was just 8 points away from the 10,500 mark for the first time.&nbsp;

Sensex smashed its Wednesday&#39;s record by touching 33,959.46 points today.

While Sensex opened at 33,768.47 points, it continued trading at 33,919.51 points.

Some of the top BSE gainers from the surge included Tata Consultancy Services, Oil and Natural Gas Corporation, State Bank of India and Wipro among others.

Infosys, India&#39;s second largest IT company, witnessed a 52-week high in its share value, rising over 2%.

 
&nbsp;

Earlier today, S&P BSE Sensex was shy of 46 points from hitting 34,000

Dalal Street rejoiced as Nifty hits 10,500 for the first time. Sensex also rallied up over 200 points today. Earlier today, S&P BSE Sensex was shy of 46 points from hitting 34,000. NSE Nifty was just 8 points away from the 10,500 mark for the first time. Sensex smashed its Wednesday's record by touching 33,959.46 points today. While Sensex opened at 33,768.47 points, it continued trading at 33,919.51 points. Some of the top BSE gainers from the surge included Tata Consultancy Services, Oil and Natural Gas Corporation, State Bank of India and Wipro among others. Infosys, India's second largest IT company, witnessed a 52-week high in its share value, rising over 2%.

Nifty hits 10,500 for first time, Sensex ends week on high note

Bitcoin fell more than 10 percent to below $14,000 on the Bitstamp exchange on Friday, extending overnight losses.

It was last down 11 percent at $13,872.

The cryptocurrency, which was at about $1,000 at the year&#39;s start, had climbed to a record high of $19,666 on Sunday in lead up to exchange giant CME Group&#39;s launch of bitcoin futures before losing steam.

Bitcoin is known to go through wild swings. In November, it tumbled almost 30 percent in four days from $7,888 to $5,555. In September, it fell 40 percent from $4,979 to $2,972.

Bitcoin fell more than 10 percent to below $14,000 on the Bitstamp exchange on Friday, extending overnight losses

Bitcoin fell more than 10 percent to below $14,000 on the Bitstamp exchange on Friday, extending overnight losses. It was last down 11 percent at $13,872. The cryptocurrency, which was at about $1,000 at the year's start, had climbed to a record high of $19,666 on Sunday in lead up to exchange giant CME Group's launch of bitcoin futures before losing steam. Bitcoin is known to go through wild swings. In November, it tumbled almost 30 percent in four days from $7,888 to $5,555. In September, it fell 40 percent from $4,979 to $2,972.

Bitcoin extends losses, slips below $14,000 on Bitstamp exchange

The Sensex and Nifty rose on Friday, with financial stocks such as Housing Development Finance Corporation Ltd (HDFC) boosting the indexes after it said it is selling two of its units to Quikr India.

Mortgage lender HDFC said it is selling HDFC Developers and HDFC Realty to online classified advertising platform Quikr India and added it has bought a stake in Quikr.

Housing Development Finance Corp rose 0.3 percent.

The Nifty was up 0.4 percent at 10,486.10 as of 0528 GMT, while the Sensex rose 0.5 percent to 33,939.59.

&quot;Things are looking reasonably good. Earnings are expected to be decent. Some of the key concerns like the fear that BJP (Bhartiya Janata Party) might lose Gujarat elections, implications of flattening yields in the US, crude oil concerns or domestic inflation..all these seem to have abated,&quot; said Sunil Sharma, chief investment officer at Sanctum Wealth Management.

&quot;Investors are getting comfortable with valuations. As long as growth comes through, markets are going to move higher, although at a gradual pace.&quot;

For the week, the NSE index was on track to end 1.5 percent higher, while the BSE index looked set to gain 1.4 percent.

Among the gainers, state-run lenders such as State Bank of India rose 1.6 percent, pushing the Nifty PSU bank index 1.6 percent higher.

Refining stocks such as Reliance Industries Ltd gained, as oil prices dipped away from 2015 highs reached in the previous session weighed down by rising U.S. output.

Reliance Industries rose 0.8 percent.

Indian markets will be closed on Monday for Christmas.

Mortgage lender HDFC said it is selling HDFC Developers and HDFC Realty to online classified advertising platform Quikr India and added it has bought a stake in Quikr

The Sensex and Nifty rose on Friday, with financial stocks such as Housing Development Finance Corporation Ltd (HDFC) boosting the indexes after it said it is selling two of its units to Quikr India. Mortgage lender HDFC said it is selling HDFC Developers and HDFC Realty to online classified advertising platform Quikr India and added it has bought a stake in Quikr. Housing Development Finance Corp rose 0.3 percent. The Nifty was up 0.4 percent at 10,486.10 as of 0528 GMT, while the Sensex rose 0.5 percent to 33,939.59. "Things are looking reasonably good. Earnings are expected to be decent. Some of the key concerns like the fear that BJP (Bhartiya Janata Party) might lose Gujarat elections, implications of flattening yields in the US, crude oil concerns or domestic inflation..all these seem to have abated," said Sunil Sharma, chief investment officer at Sanctum Wealth Management. "Investors are getting comfortable with valuations. As long as growth comes through, markets are going to move higher, although at a gradual pace." For the week, the NSE index was on track to end 1.5 percent higher, while the BSE index looked set to gain 1.4 percent. Among the gainers, state-run lenders such as State Bank of India rose 1.6 percent, pushing the Nifty PSU bank index 1.6 percent higher. Refining stocks such as Reliance Industries Ltd gained, as oil prices dipped away from 2015 highs reached in the previous session weighed down by rising U.S. output. Reliance Industries rose 0.8 percent. Indian markets will be closed on Monday for Christmas.

Sensex, Nifty rise; financial stocks lead

India needs to strengthen Reserve Bank&#39;s independence so as to help it pro-actively supervise banks and deal with issues like removal of government-appointed directors on bank boards, says an IMF report.

The report also suggested that loan classification and provisioning rules should be reviewed to ensure they reflect observed losses, and to reduce special loan categories.

&quot;Other priorities include introducing a risk-based solvency regime for insurers, unifying the oversight of commodities markets and addressing risks from politically exposed persons and the gold sector,&quot; it said.

The International Monetary Fund (IMF) made these observations in its Financial System Stability Assessment (FSSA) for India.

Since the 2011 Financial Sector Assessment Program (FSAP), India has recorded strong growth in both economic activity and financial assets, supported by important structural reforms and terms of trade gains.

The FSAP took stock of the considerable progress made in strengthening financial sector oversight and identified areas where a scope for further improvement remains.

&quot;Notably, these include strengthening the RBI&#39;s de jure independence as well as its powers over the PSBs (Public Sector Banks)...,&quot; the multilateral institution said.

The FSSA said effective supervision requires stronger de jure independence and enforcement powers as well as a proactive supervisory stance.

&quot;The current gaps in the RBI&#39;s supervisory powers over the PSBs (i.E. The RBI cannot remove government-appointed PSB directors or management, force a merger, revoke a license, or trigger liquidation of PSBs), as well as extensive powers of the government to override RBI decisions should be addressed through legal amendments,&quot; it said.

As per the IMF, effective use of the enhanced supervisory tools and methodologies will require continued efforts to ensure a proactive supervisory attitude and willingness to &quot;lean against the wind&quot;.

To address conflicts of interest, the IMF further said ownership of the National Housing Bank should be transferred from the RBI to the finance ministry and supervision of housing finance companies placed under the RBI.

The IMF directors underscored the importance of adequate resources, de jure independence, and a full set of supervisory powers?including over PSBs?in underpinning the RBI&#39;s effective supervision and regulation of financial institutions.

&quot;There is also a need to introduce risk-based solvency and supervision of insurers and to continue moving toward a market-based environment for the sector,&quot; the IMF said.

Unifying the oversight of all commodities markets would promote more efficient market functioning, in line with the authorities&#39; intention to modernise the sector, it added.

The International Monetary Fund (IMF) made these observations in its Financial System Stability Assessment (FSSA) for India

India needs to strengthen Reserve Bank's independence so as to help it pro-actively supervise banks and deal with issues like removal of government-appointed directors on bank boards, says an IMF report. The report also suggested that loan classification and provisioning rules should be reviewed to ensure they reflect observed losses, and to reduce special loan categories. "Other priorities include introducing a risk-based solvency regime for insurers, unifying the oversight of commodities markets and addressing risks from politically exposed persons and the gold sector," it said. The International Monetary Fund (IMF) made these observations in its Financial System Stability Assessment (FSSA) for India. Since the 2011 Financial Sector Assessment Program (FSAP), India has recorded strong growth in both economic activity and financial assets, supported by important structural reforms and terms of trade gains. The FSAP took stock of the considerable progress made in strengthening financial sector oversight and identified areas where a scope for further improvement remains. "Notably, these include strengthening the RBI's de jure independence as well as its powers over the PSBs (Public Sector Banks)...," the multilateral institution said. The FSSA said effective supervision requires stronger de jure independence and enforcement powers as well as a proactive supervisory stance. "The current gaps in the RBI's supervisory powers over the PSBs (i.E. The RBI cannot remove government-appointed PSB directors or management, force a merger, revoke a license, or trigger liquidation of PSBs), as well as extensive powers of the government to override RBI decisions should be addressed through legal amendments," it said. As per the IMF, effective use of the enhanced supervisory tools and methodologies will require continued efforts to ensure a proactive supervisory attitude and willingness to "lean against the wind". To address conflicts of interest, the IMF further said ownership of the National Housing Bank should be transferred from the RBI to the finance ministry and supervision of housing finance companies placed under the RBI. The IMF directors underscored the importance of adequate resources, de jure independence, and a full set of supervisory powers?including over PSBs?in underpinning the RBI's effective supervision and regulation of financial institutions. "There is also a need to introduce risk-based solvency and supervision of insurers and to continue moving toward a market-based environment for the sector," the IMF said. Unifying the oversight of all commodities markets would promote more efficient market functioning, in line with the authorities' intention to modernise the sector, it added.

India needs to strengthen RBI's independence: IMF

Bitcoin has had a difficult week. In just five days Bitcoin lost close to a third of its value plummeting below $13,000 on Friday -- a fall of nearly 20 per cent.

The cryptocurrency touched a high of around $20,000 on Sunday and&nbsp;went on to witness its worst today since April 2013.&nbsp;

&quot;Bitcoin had witnessed a staggering twentyfold increase since the start of the year, climbing from less than $1,000 to as high as $19,666 on the Luxembourg-based Bitstamp exchange on Sunday and to over $20,000 on other exchanges,&quot; Reuters reported.&nbsp;

Bitcoin was seen sliding ever since, documenting the sharpest drop today.&nbsp;

It fell to as low as $12,560 on Bitstamp today.&nbsp;

(With inputs from Reuters)&nbsp; 
&nbsp;

In just five days the cryptocurrency lost close to a third of its value

Bitcoin has had a difficult week. In just five days Bitcoin lost close to a third of its value plummeting below $13,000 on Friday -- a fall of nearly 20 per cent. The cryptocurrency touched a high of around $20,000 on Sunday and went on to witness its worst today since April 2013. "Bitcoin had witnessed a staggering twentyfold increase since the start of the year, climbing from less than $1,000 to as high as $19,666 on the Luxembourg-based Bitstamp exchange on Sunday and to over $20,000 on other exchanges," Reuters reported. Bitcoin was seen sliding ever since, documenting the sharpest drop today. It fell to as low as $12,560 on Bitstamp today. (With inputs from Reuters)

Bitcoin crashes below $13,000, worst low since April 2013

Nokia has signed a multi-year smartphone patent licence deal with Chinese smartphone manufacturing giant Huawei.

Although, the financial details of the agreement were not revealed Nokia said, &quot;it would start booking revenue, including and a one-off catch-up payment, from the fourth quarter,&quot; Reuters reported.

The Finnish company has also signed licensing deals with smartphone-making giants such as LG, Apple, Samsung Electronics and Xiaomi.

According to a Reuters report, over 90 per cent of Nokia&#39;s revenue comes from telecoms network equipment, however, in the wake of an industry-wide slide in the network business, licensing payments may prove highly profitable.

&quot;It&#39;s a significant deal because Nokia now has agreements with all the big phone makers...The network market will remain tough, but the growing patent revenue will compensate for it,&quot; said analyst Mikael Rautanen from research firm Inderes, which holds a &quot;buy&quot; rating on the stock.

(With inputs from Reuters)

 
&nbsp;

The Finnish company has also signed licensing deals with smartphone-making giants such as LG, Apple, Samsung Electronics and Xiaomi

Nokia has signed a multi-year smartphone patent licence deal with Chinese smartphone manufacturing giant Huawei. Although, the financial details of the agreement were not revealed Nokia said, "it would start booking revenue, including and a one-off catch-up payment, from the fourth quarter," Reuters reported. The Finnish company has also signed licensing deals with smartphone-making giants such as LG, Apple, Samsung Electronics and Xiaomi. According to a Reuters report, over 90 per cent of Nokia's revenue comes from telecoms network equipment, however, in the wake of an industry-wide slide in the network business, licensing payments may prove highly profitable. "It's a significant deal because Nokia now has agreements with all the big phone makers...The network market will remain tough, but the growing patent revenue will compensate for it," said analyst Mikael Rautanen from research firm Inderes, which holds a "buy" rating on the stock. (With inputs from Reuters)

Nokia and Huawei sign patent licensing deal

<a href="http://www.wionews.com/world/google-releases-list-of-top-searches-in-2017-hurricane-irma-iphone-x-feature-on-top-26657">iPhone X and 8 might be the most searched</a> smartphones according to Google trends data but that doesn&#39;t even give a glimpse of what the majority of the smartphone using population was hooked on to throughout 2017.

A recent <a href="http://www.wionews.com/business-economy/indians-spend-most-internet-data-on-communication-apps-social-media-study-27153">study conducted by the Omidyar Network</a> notes a sizeable increase in the chunk of Indian population using smartphones. Quite evidently, more and more people are switching to hi-technology handsets from their basic, old-school precursors.

Interestingly, the number of people with basic cellphone devices continues to shrink, thanks to more and more handset-manufacturing giants rolling out premium smartphones that don&#39;t burn consumers pockets anymore.

According to the Omidyar report, the number of people using cellphones is expected to shoot up to a whopping 875 million by 2020 from 581 million reported in the year 2014.

Smartphones users --- versus basic handset users -- will grow to 54% by 2020 from meagre 28% reported in the year 2014.

Easy and cheaper availability of multi-featured smartphones has created a boom in the cellphone industry, also giving a significant boost to data service providers. More and more customers now get affordable plans to access data on their budget smartphones.&nbsp;

Identifying and celebrating the indispensability of budget phones in the Indian cellphone market, we bring to you five devices that caught our attention this year under the 15k category.&nbsp;

Moto G5 Plus&nbsp;

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The device came with Android 7.0 (Nougat), upgradable to Android 8.0 (Oreo). Image via official website. (Others)
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Undeniably, the <a href="http://www.wionews.com/topic/moto-g">Moto G series</a> has been one of the most popular ones unveiled by Motorola. Moto G5 and G5 Plus were launched earlier this year and emerged as hot contenders in a fight to disrupt the budget smartphone market in the country.&nbsp;

The device comes with a fingerprint sensor, located in front; a 12-megapixel front camera with phase detection autofocus, dual-LED dual-tone flash and a 5-megapixel secondary camera.

Moto G5 Plus comes in two variants 32/64 GB, 2/4 GB RAM and 32 GB, 3 GB RAM with expandable memory up to 256 GB via microSD.

The handset was launched at a competitive price of Rs. 14,999 and is currently available for an online purchase for around Rs. 13,999 (32 GB variant).

The device came with Android 7.0 (Nougat), upgradable to Android 8.0 (Oreo) and runs on Qualcomm Snapdragon 625.

&nbsp;

Honor 7X

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Honor 7X was recently launched in China. Representational image, Honor smartphone (WION)
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Huawei&#39;s much-anticipated budget smartphone <a href="http://www.wionews.com/india-news/huaweis-honor-7x-will-be-on-sale-via-amazon-india-on-december-7-25585">launched earlier this month</a> and also went on an exclusive Amazon sale on December 7.&nbsp;

Honor 7X succeeds the popular Honor 6X and runs on Huawei&#39;s exclusive Kirin 659 processor. The device is available with 4GB/3GB RAM in variants offering 32GB/64GB internal storage expandable to 256 GB via microSD.&nbsp;

The handset boasts of a 3340 mAh battery and runs on Android 7.0 Nougat. Honor 7X comes with a 16-megapixel primary camera with phase detection, autofocus, LED flash and an 8-megapixel secondary camera.&nbsp;

The 4GB/32GB variant of the device is available online for around Rs. 12,999.

&nbsp;

<a href="http://www.wionews.com/topic/xiaomi-mi-a1">Xiaomi</a> Mi A1

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The illustration showing Xiaomi handsets (Reuters)
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The budget-bet from this year&#39;s Xiaomi kitty comes with a full-HD 5.5-inch display, 4GB RAM, and 64GB storage expandable to 128 GB, and a 3080 mAh battery.

The handset runs on Qualcomm Snapdragon 625 and boasts of dual cameras -- 5-megapixel in the front and dual 12-megapixel on the back.&nbsp;

The Mi A1 comes with Android 7.1.2 (Nougat) with a planned upgrade to Android 8.0 (Oreo) and <a href="http://www.wionews.com/science-tech/android-o-google-teases-next-version-of-its-operating-system-15725">Android One</a>.&nbsp;

The device was released in September this year and can now be bought online for around Rs. 12,999/13,999. &nbsp;

Xiaomi has also launched a Special Edition Red variant in India priced at Rs. 13,999. The limited edition device will be available from December 20 through the official Mi website, Flipkart, Mi Home and partner stores.&nbsp;

&nbsp;

<a href="http://www.wionews.com/business-economy/k8-plus-lenovo-launches-its-second-smartphone-in-india-19997">Lenovo K8 Plus</a>&nbsp;

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The device boasts of a massive 4000 mAh battery and runs on Helio P25 2.5GHz octa-core processor. Image via the official website. (Others)
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A strong contender in the budget phone market, the Lenovo K8 Plus was launched in September and currently available online for as low as ten thousand rupees.&nbsp;

The device boasts of a massive 4000 mAh battery and runs on Helio P25 2.5GHz octa-core processor.

On the camera front, the device comes with 13 MP + 5 MP rear dual cameras with dual CCT LED flash and 8 MP front camera with party flash.

Lenovo K8 Plus comes with 3/4 GB RAM and 32 GB internal storage expandable up to 128 GB with the help of a microSD

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Moto G5

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The device runs on Android Nougat with a planned update for Android Oreo. Image via Moto official website. (Others)
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Another one from the Moto family, this device is a classic bet for people wanting to buy a budget phone.

Although not recommended for data-heavy use, this one is ideal for those looking for premium smartphone features packed in an affordable avatar.&nbsp;

The device comes in 3 GB/16 GB (expandable to 256 GB) variants with 1.4 GHz octa-core processor, Qualcomm Snapdragon 430; 13 MP front and 5 MP rear camera.

On the battery front, Moto G lags behind with 2800 mAH.&nbsp;

The device runs on Android Nougat with a planned update for <a href="http://www.wionews.com/india-news/google-for-india-2017-heres-taking-a-look-at-the-highlights-of-todays-event-25924">Android Oreo</a>.&nbsp;

Moto G was launched in February this year and can be bought for as low as Rs. 9999 online.

Identifying and celebrating the indispensability of budget phones in the Indian cellphone market, we bring to you five devices that caught our attention this year

iPhone X and 8 might be the most searched smartphones according to Google trends data but that doesn't even give a glimpse of what the majority of the smartphone using population was hooked on to throughout 2017. A recent study conducted by the Omidyar Network notes a sizeable increase in the chunk of Indian population using smartphones. Quite evidently, more and more people are switching to hi-technology handsets from their basic, old-school precursors. Interestingly, the number of people with basic cellphone devices continues to shrink, thanks to more and more handset-manufacturing giants rolling out premium smartphones that don't burn consumers pockets anymore. According to the Omidyar report, the number of people using cellphones is expected to shoot up to a whopping 875 million by 2020 from 581 million reported in the year 2014. Smartphones users --- versus basic handset users -- will grow to 54% by 2020 from meagre 28% reported in the year 2014. Easy and cheaper availability of multi-featured smartphones has created a boom in the cellphone industry, also giving a significant boost to data service providers. More and more customers now get affordable plans to access data on their budget smartphones. Identifying and celebrating the indispensability of budget phones in the Indian cellphone market, we bring to you five devices that caught our attention this year under the 15k category. Moto G5 Plus The device came with Android 7.0 (Nougat), upgradable to Android 8.0 (Oreo). Image via official website. (Others) × Undeniably, the Moto G series has been one of the most popular ones unveiled by Motorola. Moto G5 and G5 Plus were launched earlier this year and emerged as hot contenders in a fight to disrupt the budget smartphone market in the country. The device comes with a fingerprint sensor, located in front; a 12-megapixel front camera with phase detection autofocus, dual-LED dual-tone flash and a 5-megapixel secondary camera. Moto G5 Plus comes in two variants 32/64 GB, 2/4 GB RAM and 32 GB, 3 GB RAM with expandable memory up to 256 GB via microSD. The handset was launched at a competitive price of Rs. 14,999 and is currently available for an online purchase for around Rs. 13,999 (32 GB variant). The device came with Android 7.0 (Nougat), upgradable to Android 8.0 (Oreo) and runs on Qualcomm Snapdragon 625. Honor 7X Honor 7X was recently launched in China. Representational image, Honor smartphone (WION) × Huawei's much-anticipated budget smartphone launched earlier this month and also went on an exclusive Amazon sale on December 7. Honor 7X succeeds the popular Honor 6X and runs on Huawei's exclusive Kirin 659 processor. The device is available with 4GB/3GB RAM in variants offering 32GB/64GB internal storage expandable to 256 GB via microSD. The handset boasts of a 3340 mAh battery and runs on Android 7.0 Nougat. Honor 7X comes with a 16-megapixel primary camera with phase detection, autofocus, LED flash and an 8-megapixel secondary camera. The 4GB/32GB variant of the device is available online for around Rs. 12,999. Xiaomi Mi A1 The illustration showing Xiaomi handsets (Reuters) × The budget-bet from this year's Xiaomi kitty comes with a full-HD 5.5-inch display, 4GB RAM, and 64GB storage expandable to 128 GB, and a 3080 mAh battery. The handset runs on Qualcomm Snapdragon 625 and boasts of dual cameras -- 5-megapixel in the front and dual 12-megapixel on the back. The Mi A1 comes with Android 7.1.2 (Nougat) with a planned upgrade to Android 8.0 (Oreo) and Android One. The device was released in September this year and can now be bought online for around Rs. 12,999/13,999. Xiaomi has also launched a Special Edition Red variant in India priced at Rs. 13,999. The limited edition device will be available from December 20 through the official Mi website, Flipkart, Mi Home and partner stores. Lenovo K8 Plus The device boasts of a massive 4000 mAh battery and runs on Helio P25 2.5GHz octa-core processor. Image via the official website. (Others) × A strong contender in the budget phone market, the Lenovo K8 Plus was launched in September and currently available online for as low as ten thousand rupees. The device boasts of a massive 4000 mAh battery and runs on Helio P25 2.5GHz octa-core processor. On the camera front, the device comes with 13 MP + 5 MP rear dual cameras with dual CCT LED flash and 8 MP front camera with party flash. Lenovo K8 Plus comes with 3/4 GB RAM and 32 GB internal storage expandable up to 128 GB with the help of a microSD Moto G5 The device runs on Android Nougat with a planned update for Android Oreo. Image via Moto official website. (Others) × Another one from the Moto family, this device is a classic bet for people wanting to buy a budget phone. Although not recommended for data-heavy use, this one is ideal for those looking for premium smartphone features packed in an affordable avatar. The device comes in 3 GB/16 GB (expandable to 256 GB) variants with 1.4 GHz octa-core processor, Qualcomm Snapdragon 430; 13 MP front and 5 MP rear camera. On the battery front, Moto G lags behind with 2800 mAH. The device runs on Android Nougat with a planned update for Android Oreo. Moto G was launched in February this year and can be bought for as low as Rs. 9999 online.

Yearender 2017: Top Budget Smartphones of 2017 under Rs. 15,000

As reports of <a href="http://www.wionews.com/india-news/apple-might-be-slowing-down-old-iphones-27316">Apple slowing down its old iPhones</a> surfaced, chaos broke.

Apple&#39;s iOS 10.2.1 and 11.2.0 updates were primarily meant to prevent random shutdowns on iPhone 6, 6S, SE and 7.&nbsp;

Some of the recent reports and tales of consumer experiences also noted that the updates chocked old iPhone handsets&#39; processors, making them perform slower.&nbsp;

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Apple: the battery degrades over time, so we make software tweaks to compensate for it. 
 
also Apple: we make it incredibly difficult to install a replacement battery in our phones. 
 
also also Apple: buy a new phone.<a href="https://t.co/F56R3iaq56">https://t.co/F56R3iaq56</a>
&mdash; santos l. halper (@dcseifert) <a href="https://twitter.com/dcseifert/status/943578934301659139?ref_src=twsrc%5Etfw">December 20, 2017</a></blockquote>
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Shortly after reports emerged, Apple, in an official statement, admitted the same.

The company stated that although the software updates were designed to &quot;smooth out&quot; peak power demands and prevent unexpected shutdowns, the same may also lead to slower speed in iPhone handsets with low-capacity batteries. &nbsp;

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So it&#39;s true Apple intentionally slow down old iPhones. Proof: My iPhone 6 was bought 3years ago and recently got really slow. APP &#39;CPU DasherX&#39; shows iPhone CPU is under clocked running at 600MHz. After a iPhone battery replacement. CPU speed resumed to factory setting 1400MHz. <a href="https://t.co/pML3y0Jkp2">pic.twitter.com/pML3y0Jkp2</a>
&mdash; Sam_Si (@sam_siruomu) <a href="https://twitter.com/sam_siruomu/status/943400254451335168?ref_src=twsrc%5Etfw">December 20, 2017</a></blockquote>
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Here&#39;s a look at what tech journos, enthusiasts and iPhone patrons had to say on the same:

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I&rsquo;m out of phone contract yet cannot / will not allow myself to update with another <a href="https://twitter.com/Apple?ref_src=twsrc%5Etfw">@Apple</a> iPhone following the deliberate and very noticeable slowing of my iPhone 6. My phone was NOT cheap and now feel somewhat cheated. Very poor <a href="https://twitter.com/hashtag/customer?src=hash&amp;ref_src=twsrc%5Etfw">#customer</a> <a href="https://twitter.com/hashtag/care?src=hash&amp;ref_src=twsrc%5Etfw">#care</a>
&mdash; Martin Knights (@martinknights44) <a href="https://twitter.com/martinknights44/status/943849577303568386?ref_src=twsrc%5Etfw">December 21, 2017</a></blockquote>
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Dear, <a href="https://twitter.com/Apple?ref_src=twsrc%5Etfw">@Apple</a> 
I know my iPhone 6s is a little old but if you think for one sec that you&#39;re going to keep slowing my phone down in hopes i &quot;upgrade&quot; you have another thing coming pal!! 
 
Signed, 
Frugal Jess
&mdash; JESSE with no &quot;i&quot; (@Mr4thAndLong) <a href="https://twitter.com/Mr4thAndLong/status/939002365469798401?ref_src=twsrc%5Etfw">December 8, 2017</a></blockquote>
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<a href="https://twitter.com/chris_writes?ref_src=twsrc%5Etfw">@chris_writes</a> Dude, Apple is just full of it. According to them they&#39;re slowing down phones to extend battery life? How obvious could they be? And when do they decide your phone needs protection, when they drop their s version 6 months later?
&mdash; Aldo Rodriguez (@Aesir27) <a href="https://twitter.com/Aesir27/status/943852158843277312?ref_src=twsrc%5Etfw">December 21, 2017</a></blockquote>
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&nbsp;

&nbsp;

&nbsp;

Recent reports and tales of consumer experiences also noted the updates chocked old iPhone handsets' processors

As reports of Apple slowing down its old iPhones surfaced, chaos broke. Apple's iOS 10.2.1 and 11.2.0 updates were primarily meant to prevent random shutdowns on iPhone 6, 6S, SE and 7. Some of the recent reports and tales of consumer experiences also noted that the updates chocked old iPhone handsets' processors, making them perform slower. Apple: the battery degrades over time, so we make software tweaks to compensate for it. also Apple: we make it incredibly difficult to install a replacement battery in our phones. also also Apple: buy a new phone.https://t.co/F56R3iaq56 — santos l. halper (@dcseifert) December 20, 2017 × Shortly after reports emerged, Apple, in an official statement, admitted the same. The company stated that although the software updates were designed to "smooth out" peak power demands and prevent unexpected shutdowns, the same may also lead to slower speed in iPhone handsets with low-capacity batteries. So it's true Apple intentionally slow down old iPhones. Proof: My iPhone 6 was bought 3years ago and recently got really slow. APP 'CPU DasherX' shows iPhone CPU is under clocked running at 600MHz. After a iPhone battery replacement. CPU speed resumed to factory setting 1400MHz. pic.twitter.com/pML3y0Jkp2 — Sam_Si (@sam_siruomu) December 20, 2017 × Here's a look at what tech journos, enthusiasts and iPhone patrons had to say on the same: I’m out of phone contract yet cannot / will not allow myself to update with another @Apple iPhone following the deliberate and very noticeable slowing of my iPhone 6. My phone was NOT cheap and now feel somewhat cheated. Very poor #customer #care — Martin Knights (@martinknights44) December 21, 2017 × Dear, @Apple I know my iPhone 6s is a little old but if you think for one sec that you're going to keep slowing my phone down in hopes i "upgrade" you have another thing coming pal!! Signed, Frugal Jess — JESSE with no "i" (@Mr4thAndLong) December 8, 2017 × @chris_writes Dude, Apple is just full of it. According to them they're slowing down phones to extend battery life? How obvious could they be? And when do they decide your phone needs protection, when they drop their s version 6 months later? — Aldo Rodriguez (@Aesir27) December 21, 2017 ×

Apple admits to slowing down older iPhones

Global Head of Safety at Facebook, Antigone Davis, revealed Facebook&#39;s new initiatives to prevent harassment on Facebook.

The social media giant has rolled out new tools and features to help prevent unwanted friend requests and messages from Facebook users.

These new tools will be capable of recognising and blocking any attempts of communication from a blocked user who might send a message&nbsp;or a friend request from a new or another account.&nbsp;

In a statement released Tuesday, Davis talked about a new option that lets a user ignore a Messenger conversation by automatically moving it to their &#39;Filtered&#39; messages.

Just a tap on a message will let a user ignore a conversation and move it to &#39;Filtered&#39; messages.

A new feature will also let users read messages without letting the sender see if the message has been read already.

The feature is available for single conversations and will soon be applicable to group chats.&nbsp;

These automated features will help in identifying fake accounts, preventing their&nbsp;owners from re-registering.

The set of new features will go a long way in providing stronger cyber-security, especially on Facebook, to women and journalists who often fall prey to online harassment and cyber-stalking.&nbsp;

A range of signals -- like a user&#39;s IP address -- will be analysed to study the type of accounts and their owners who were previously blocked and therefore must be blocked from re-registering on Facebook, sending messages, friend requests or creating another account.&nbsp;

New Facebook tools will recognise and prevent attempts of communication from a blocked user

Global Head of Safety at Facebook, Antigone Davis, revealed Facebook's new initiatives to prevent harassment on Facebook. The social media giant has rolled out new tools and features to help prevent unwanted friend requests and messages from Facebook users. These new tools will be capable of recognising and blocking any attempts of communication from a blocked user who might send a message or a friend request from a new or another account. In a statement released Tuesday, Davis talked about a new option that lets a user ignore a Messenger conversation by automatically moving it to their 'Filtered' messages. Just a tap on a message will let a user ignore a conversation and move it to 'Filtered' messages. A new feature will also let users read messages without letting the sender see if the message has been read already. The feature is available for single conversations and will soon be applicable to group chats. These automated features will help in identifying fake accounts, preventing their owners from re-registering. The set of new features will go a long way in providing stronger cyber-security, especially on Facebook, to women and journalists who often fall prey to online harassment and cyber-stalking. A range of signals -- like a user's IP address -- will be analysed to study the type of accounts and their owners who were previously blocked and therefore must be blocked from re-registering on Facebook, sending messages, friend requests or creating another account.

New Facebook tools will help prevent unwanted friend requests and messages