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German exports fell unexpectedly in October while vibrant domestic demand pushed up imports, narrowing its trade surplus and adding to evidence that Europe&#39;s biggest economy started the fourth quarter on a weak footing, data showed on Friday.

The German economy, which is expected to grow by more than 2 percent this year, is enjoying a consumer-led upswing, propelled by record-high employment, rising real wages, moderate inflation, and ultra-low borrowing costs.&nbsp;

Seasonally adjusted exports edged down by 0.4 per cent on the month while imports jumped by 1.8 per cent, data from the Federal Statistics Office showed. The exports figure confounded expectations for a 1.0 per cent rise while imports beat a forecast for a 1.1 per cent increase.

&quot;German industry has gone through a small roller coaster ride since the start of the summer&quot;, ING economist Carsten Brzeski said, adding that disappointing numbers had been followed by impressive rebounds.&nbsp;

&quot;Behind the vacation and weather-driven white noise of monthly data, however, there is a clear upward trend. The export sector has once more become an important growth driver in 2017&quot;, Brzeski&nbsp;continued.

A breakdown of unadjusted figures showed that German imports from other European Union countries surged by 10.1 per cent while those from countries outside the bloc rose by 4.8 per cent.&nbsp;The seasonally adjusted trade surplus narrowed to 19.9 billion euros from an upwardly revised 21.9 billion euros in September. The October reading was lower than the Reuters consensus forecast for 21.8 billion euros.

Germany&#39;s wider current account surplus, which measures the flow of goods, services, and investments, fell to 18.1 billion euros after an upwardly revised reading of 25.8 billion euros in September, unadjusted data showed.&nbsp;

The trade figures followed economic data released on Thursday that showed industrial output fell unexpectedly in October - a drop economists linked to public holidays that let workers take long weekends.

The weak figures came after data on Wednesday showed that industrial orders had risen unexpectedly in October, suggesting that output could bounce back in the coming months.&nbsp;Rising exports and business investment in equipment helped the German economy to shift into a higher gear in the third quarter - it expanded by 0.8 per cent on the quarter, up from 0.6 per cent in the previous three months.

&quot;This week&#39;s industrial data show that even the German economy can have weaker moments&quot;, Brzeski said, adding that the fourth quarter could bring a slowdown in overall growth.&nbsp;For 2017 as a whole, the Ifo Institute for Economic Research predicts economic growth of 2.3 per cent which would translate into a calendar-adjusted expansion rate of 2.6 per cent - the fastest pace in six years.

Europe's second-biggest economy - Germany - takes a hit as it sees an unexpected decline in exports sector

German exports fell unexpectedly in October while vibrant domestic demand pushed up imports, narrowing its trade surplus and adding to evidence that Europe's biggest economy started the fourth quarter on a weak footing, data showed on Friday. The German economy, which is expected to grow by more than 2 percent this year, is enjoying a consumer-led upswing, propelled by record-high employment, rising real wages, moderate inflation, and ultra-low borrowing costs. Seasonally adjusted exports edged down by 0.4 per cent on the month while imports jumped by 1.8 per cent, data from the Federal Statistics Office showed. The exports figure confounded expectations for a 1.0 per cent rise while imports beat a forecast for a 1.1 per cent increase. "German industry has gone through a small roller coaster ride since the start of the summer", ING economist Carsten Brzeski said, adding that disappointing numbers had been followed by impressive rebounds. "Behind the vacation and weather-driven white noise of monthly data, however, there is a clear upward trend. The export sector has once more become an important growth driver in 2017", Brzeski continued. A breakdown of unadjusted figures showed that German imports from other European Union countries surged by 10.1 per cent while those from countries outside the bloc rose by 4.8 per cent. The seasonally adjusted trade surplus narrowed to 19.9 billion euros from an upwardly revised 21.9 billion euros in September. The October reading was lower than the Reuters consensus forecast for 21.8 billion euros. Germany's wider current account surplus, which measures the flow of goods, services, and investments, fell to 18.1 billion euros after an upwardly revised reading of 25.8 billion euros in September, unadjusted data showed. The trade figures followed economic data released on Thursday that showed industrial output fell unexpectedly in October - a drop economists linked to public holidays that let workers take long weekends. The weak figures came after data on Wednesday showed that industrial orders had risen unexpectedly in October, suggesting that output could bounce back in the coming months. Rising exports and business investment in equipment helped the German economy to shift into a higher gear in the third quarter - it expanded by 0.8 per cent on the quarter, up from 0.6 per cent in the previous three months. "This week's industrial data show that even the German economy can have weaker moments", Brzeski said, adding that the fourth quarter could bring a slowdown in overall growth. For 2017 as a whole, the Ifo Institute for Economic Research predicts economic growth of 2.3 per cent which would translate into a calendar-adjusted expansion rate of 2.6 per cent - the fastest pace in six years.

Unexpected decline in German exports narrows trade surplus

U.S. job growth likely increased at a strong clip in November and wages rebounded as the distortions from the recent hurricanes faded, creating a portrait of a healthy economy that analysts say does not require the kind of fiscal stimulus that President Donald Trump is proposing.

According to a Reuters survey of economists, the Labor Department&#39;s closely watched employment report on Friday will likely show that nonfarm payrolls rose by 200,000 jobs last month after surging 261,000 in October.&nbsp;Employment gains in October were boosted by the return to work of thousands of employees who had been temporarily dislocated by Hurricanes - Harvey and Irma. November&#39;s report will be the first clean reading since the storms, which also impacted September&#39;s employment data.&nbsp;

The unemployment rate is forecast to be unchanged at a 17-year low of 4.1 percent. Average hourly earnings are expected to have risen 0.3 percent in November after being flat the prior month. That would lift the annual increase in wages to 2.7 percent from 2.4 percent in October.&nbsp;Readings in line with expectations would underscore the economy&#39;s strength and fuel criticism of efforts by Trump and his fellow Republicans in the U.S. Congress to cut the corporate income tax rate to 20 percent from 35 percent.

&quot;The labor market is in great shape. Tax cuts should be used when the economy needs tax cuts and it doesn&#39;t need tax cuts right now&quot;, said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. He added, &quot;When politics and economics are mixed in the stew, the policies that are created often have an awful smell&quot;.

Republicans argue that the proposed tax cut package will boost the economy and allow companies to hire more workers. But with the labor market near full employment and companies reporting difficulties finding qualified workers, economists disagree. Job openings are near a record high.&nbsp;

&quot;Companies want workers and do not need tax cuts to give them the financial wherewithal to hire more workers&quot;, said Chris Rupkey, chief economist at MUFG in New York. He said, &quot;It&#39;s labor, that the economy is running out of&quot;.

The economy grew at a 3.3 percent annualized rate in the third quarter, the fastest in three years.

Full Employment

While November`s employment report will probably have little impact on expectations that the Federal Reserve will raise interest rates at its Dec. 12-13 policy meeting, it could help shape the debate on monetary policy next year.&nbsp;The U.S. central bank has increased borrowing costs twice this year. It has forecast three rate hikes in 2018.&nbsp;

Job growth has averaged 168,000 jobs per month this year, down from the average monthly gain of 187,000 in 2016. A slowdown in job growth is normal when the labor market nears full employment.&nbsp;The economy needs to create 75,000 to 100,000 jobs per month to keep up with growth in the working-age population.

The unemployment rate has declined by seven-tenths of a percentage point this year. Economists believe that the tightening labor market will unleash a faster pace of wage growth next year.&nbsp;That, combined with the tax cuts, would help boost inflation. 
&quot;I think that in the next three to six months we will see a broader uptick in wage pressures. Given where we are in the economic cycle, if you throw some gasoline in the fire with fiscal stimulus, that will ultimately spark some higher inflation&quot;, said David Donabedian, chief investment officer of CIBC Atlantic Trust in Baltimore.&nbsp; 
 
Employment gains were likely broad in November. Construction payrolls are expected to show strong growth, thanks in part to rebuilding efforts in the areas devastated by the hurricanes.&nbsp;Another month of steady increases is expected in manufacturing employment while hiring for the holiday season likely boosted retail payrolls.

Retailers, including Macy&#39;s Inc, reported strong Black Friday sales.&nbsp;Macy&#39;s said that this month it would hire an additional 7,000 temporary workers for its stores to deal with heavy customer traffic in the run-up to Christmas.

A growth in United States' job sector is anticipated with hourly earnings going up. The unemployment rate is forecast to remain unchanged

U.S. job growth likely increased at a strong clip in November and wages rebounded as the distortions from the recent hurricanes faded, creating a portrait of a healthy economy that analysts say does not require the kind of fiscal stimulus that President Donald Trump is proposing. According to a Reuters survey of economists, the Labor Department's closely watched employment report on Friday will likely show that nonfarm payrolls rose by 200,000 jobs last month after surging 261,000 in October. Employment gains in October were boosted by the return to work of thousands of employees who had been temporarily dislocated by Hurricanes - Harvey and Irma. November's report will be the first clean reading since the storms, which also impacted September's employment data. The unemployment rate is forecast to be unchanged at a 17-year low of 4.1 percent. Average hourly earnings are expected to have risen 0.3 percent in November after being flat the prior month. That would lift the annual increase in wages to 2.7 percent from 2.4 percent in October. Readings in line with expectations would underscore the economy's strength and fuel criticism of efforts by Trump and his fellow Republicans in the U.S. Congress to cut the corporate income tax rate to 20 percent from 35 percent. "The labor market is in great shape. Tax cuts should be used when the economy needs tax cuts and it doesn't need tax cuts right now", said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. He added, "When politics and economics are mixed in the stew, the policies that are created often have an awful smell". Republicans argue that the proposed tax cut package will boost the economy and allow companies to hire more workers. But with the labor market near full employment and companies reporting difficulties finding qualified workers, economists disagree. Job openings are near a record high. "Companies want workers and do not need tax cuts to give them the financial wherewithal to hire more workers", said Chris Rupkey, chief economist at MUFG in New York. He said, "It's labor, that the economy is running out of". The economy grew at a 3.3 percent annualized rate in the third quarter, the fastest in three years. Full Employment While November`s employment report will probably have little impact on expectations that the Federal Reserve will raise interest rates at its Dec. 12-13 policy meeting, it could help shape the debate on monetary policy next year. The U.S. central bank has increased borrowing costs twice this year. It has forecast three rate hikes in 2018. Job growth has averaged 168,000 jobs per month this year, down from the average monthly gain of 187,000 in 2016. A slowdown in job growth is normal when the labor market nears full employment. The economy needs to create 75,000 to 100,000 jobs per month to keep up with growth in the working-age population. The unemployment rate has declined by seven-tenths of a percentage point this year. Economists believe that the tightening labor market will unleash a faster pace of wage growth next year. That, combined with the tax cuts, would help boost inflation. "I think that in the next three to six months we will see a broader uptick in wage pressures. Given where we are in the economic cycle, if you throw some gasoline in the fire with fiscal stimulus, that will ultimately spark some higher inflation", said David Donabedian, chief investment officer of CIBC Atlantic Trust in Baltimore. Employment gains were likely broad in November. Construction payrolls are expected to show strong growth, thanks in part to rebuilding efforts in the areas devastated by the hurricanes. Another month of steady increases is expected in manufacturing employment while hiring for the holiday season likely boosted retail payrolls. Retailers, including Macy's Inc, reported strong Black Friday sales. Macy's said that this month it would hire an additional 7,000 temporary workers for its stores to deal with heavy customer traffic in the run-up to Christmas.

Strong November US job gains anticipated; wages seen rising

Apple has revealed its &#39;<a href="http://www.wionews.com/world/the-best-of-apple-a-look-at-top-apps-and-games-of-2017-26155" target="_blank">best of 2017</a>&#39; list that features top rated and most popular apps, games, movies, music and trends across various Apple products and platforms. What&#39;s even more exciting is the fact that some of the popular Indian apps have also been featured under various sections.

Indian apps like Zomato, UrbanClap, Swiggy, OLX Classifieds and BookMyShow were among the top lifestyle applications&nbsp;under &#39;Save Time, Live Life&#39;&nbsp;category.&nbsp;

The category was described as featuring &quot;Time-saving apps that help us get more done each day&quot;. &quot;Time-saving personal services came into their own this year and continue to evolve,&quot; the release noted.&nbsp;

ALTBalaji, Voot, SonyLiv and Hotstar emerged as top applications of the year under &#39;Stream Anytime, Anyplace&#39; category.&nbsp;

Apple also revealed the most popular movies, music across Apple Music, iTunes and iStore for the year.

&quot;Our App Store editors have chosen the most download-worthy games and apps based on topics and trends that were popular on the App Store throughout the year,&quot; noted the official release.

&#39;Enlight Videoleap&#39; was rated as the best app of the year across countries while Splitter Clitters topped the list as the best game of the year in most countries.&nbsp;

ALTBalaji, Voot, SonyLiv and Hotstar emerged top applications of the year under 'Stream Anytime, Anyplace' category

Apple has revealed its 'best of 2017' list that features top rated and most popular apps, games, movies, music and trends across various Apple products and platforms. What's even more exciting is the fact that some of the popular Indian apps have also been featured under various sections. Indian apps like Zomato, UrbanClap, Swiggy, OLX Classifieds and BookMyShow were among the top lifestyle applications under 'Save Time, Live Life' category. The category was described as featuring "Time-saving apps that help us get more done each day". "Time-saving personal services came into their own this year and continue to evolve," the release noted. ALTBalaji, Voot, SonyLiv and Hotstar emerged as top applications of the year under 'Stream Anytime, Anyplace' category. Apple also revealed the most popular movies, music across Apple Music, iTunes and iStore for the year. "Our App Store editors have chosen the most download-worthy games and apps based on topics and trends that were popular on the App Store throughout the year," noted the official release. 'Enlight Videoleap' was rated as the best app of the year across countries while Splitter Clitters topped the list as the best game of the year in most countries.

Zomato, UrbanClap, Swiggy feature in Apple's best apps of 2017

Gold edged up in early trade on Friday as investors resorted to bargain hunting after the yellow metal dropped below its recent trading range to hit the lowest in more than four months overnight.&nbsp;

Spot gold was up 0.2 percent at $1,248.86 an ounce, by 0328 GMT, after hitting its lowest since July 26 at $1,243.71 in the previous session.&nbsp;The metal was down for a third straight week, headed for its biggest weekly decline since early May.&nbsp;U.S. gold futures were 0.2 percent lower at $1,250.70.

&quot;Even as the dollar is firmer, there seems to be a bit of bargain hunting around. I do, however, think that the pressure is on the downside and rallies will still be sold&quot;, a Hong Kong-based trader said.&nbsp;The dollar inched higher on Friday, as the passage of a bill to temporarily extend U.S. government funding raised investors&#39; optimism that a tax reform bill would also pass.&nbsp;

The greenback took a brief knock earlier this week on concerns over a government shutdown, and as U.S. President Donald Trump raised tensions in the Middle East after he recognised Jerusalem as the capital of Israel.&nbsp;The Islamist group Hamas urged Palestinians on Thursday to abandon peace efforts and launch a new uprising against Israel in response to Trump&#39;s recognition of Jerusalem as its capital.&nbsp;

&quot;Gold might have found some support in that but it seems to be just the dollar strength across the board now heading into the end of the year&quot;, the trader said.&nbsp;The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting a rapid tightening of the labor market that bolsters expectations the Federal Reserve will raise benchmark interest rates next week.

Higher U.S. interest rates tend to boost the dollar, making greenback-denominated gold more expensive for holders in other currencies.&nbsp;Markets will be eyeing the U.S. non-farm payrolls report due later in the day, which will be last employment report before the Fed meeting next week.&nbsp;

&quot;Market-watchers are likely positioning for an FOMC rate hike next week. Overnight, the improvement in risk appetite considering the postponing of the U.S. partial government shutdown and further progress in Brexit talks should buoy market sentiment into the next week&quot;, said OCBC analyst Barnabas Gan.&nbsp;

Meanwhile, Asian shares on Friday rallied for a second session as investors awaited major economic data, and cryptocurrency bitcoin shot above $16,600 to its highest ever.&nbsp;Spot gold may drop more to $1,239 per ounce, according to Reuters technicals analyst Wang Tao.&nbsp;Silver rose 0.3 percent to $15.77 an ounce, after slipping to its lowest since mid-July on Thursday.&nbsp;Platinum climbed 0.3 percent to $894 an ounce, while palladium was 0.1 percent lower at $1,012.25.&nbsp;

Gold, the precious yellow metal dropped to its lowest in last four months. Even the U.S. gold futures were lower than expected

Gold edged up in early trade on Friday as investors resorted to bargain hunting after the yellow metal dropped below its recent trading range to hit the lowest in more than four months overnight. Spot gold was up 0.2 percent at $1,248.86 an ounce, by 0328 GMT, after hitting its lowest since July 26 at $1,243.71 in the previous session. The metal was down for a third straight week, headed for its biggest weekly decline since early May. U.S. gold futures were 0.2 percent lower at $1,250.70. "Even as the dollar is firmer, there seems to be a bit of bargain hunting around. I do, however, think that the pressure is on the downside and rallies will still be sold", a Hong Kong-based trader said. The dollar inched higher on Friday, as the passage of a bill to temporarily extend U.S. government funding raised investors' optimism that a tax reform bill would also pass. The greenback took a brief knock earlier this week on concerns over a government shutdown, and as U.S. President Donald Trump raised tensions in the Middle East after he recognised Jerusalem as the capital of Israel. The Islamist group Hamas urged Palestinians on Thursday to abandon peace efforts and launch a new uprising against Israel in response to Trump's recognition of Jerusalem as its capital. "Gold might have found some support in that but it seems to be just the dollar strength across the board now heading into the end of the year", the trader said. The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting a rapid tightening of the labor market that bolsters expectations the Federal Reserve will raise benchmark interest rates next week. Higher U.S. interest rates tend to boost the dollar, making greenback-denominated gold more expensive for holders in other currencies. Markets will be eyeing the U.S. non-farm payrolls report due later in the day, which will be last employment report before the Fed meeting next week. "Market-watchers are likely positioning for an FOMC rate hike next week. Overnight, the improvement in risk appetite considering the postponing of the U.S. partial government shutdown and further progress in Brexit talks should buoy market sentiment into the next week", said OCBC analyst Barnabas Gan. Meanwhile, Asian shares on Friday rallied for a second session as investors awaited major economic data, and cryptocurrency bitcoin shot above $16,600 to its highest ever. Spot gold may drop more to $1,239 per ounce, according to Reuters technicals analyst Wang Tao. Silver rose 0.3 percent to $15.77 an ounce, after slipping to its lowest since mid-July on Thursday. Platinum climbed 0.3 percent to $894 an ounce, while palladium was 0.1 percent lower at $1,012.25.

Gold rises on bargain hunting after slumping to over four-month low

China&#39;s exports and imports unexpectedly accelerated last month in an encouraging sign for the world&#39;s second-biggest economy, though analysts expect growth to continue cooling amid a government crackdown on financial risks and polluting factories.&nbsp;

As global demand has surprised with its strength, consumers have lapped up Chinese goods at a rapid rate this year, giving the economy a boost and providing policymakers, room to tighten rules to curb high-risk lending.&nbsp;Exports in November rose 12.3 percent year-on-year, the fastest pace in eight months, led by strong sales of electronics and high-tech goods, while commodity purchases helped lift imports. The number beat analysts&#39; forecast of a 5.0 percent increase and compared with 6.9 percent growth in October.&nbsp;

Imports grew 17.7 percent year-on-year in November, the General Administration of Customs said on Friday, also well above expectations of 11.3 percent growth and rising at the fastest pace since September.&nbsp;The numbers may help to ease concerns of slowing momentum in Asia&#39;s economic powerhouse, which had surprised markets with robust growth of nearly 6.9 percent in the first nine months of this year, thanks to a government-led infrastructure spending spree and unexpected strength in exports.

&quot;While we still expect China&#39;s domestic economy to cool in 2018 on gradually tighter fiscal policies, the November import data shows that there are upside risks to our China outlook&quot;, said Louis Kuijs, head of Asia Economics at Oxford Economics in Hong Kong.&nbsp;Tighter rules to rein in risks from a rapid build-up in debt and cut pollution have weighed on overall activity since the third quarter.

Besides ramped-up efforts to reduce winter pollution, authorities unveiled fresh regulatory measures last month for the financial sector, clamping down on high-risk lending and halting some dubious infrastructure projects that would swell local governments&#39; debt.

Imports Bounce To Tail Off?

Some of China&#39;s northern provinces have ordered factories to throttle back or halt output to reduce notoriously thick winter smog.&nbsp;While the war on pollution had been expected to reduce raw materials imports, Friday&#39;s trade numbers showed commodity imports rebounded last month.&nbsp;

China&#39;s natural gas imports in November rose to a record as domestic demand surged while crude imports were the second-highest ever, as refiners ramped up output to cash in on strong profits as fuel prices soar.&nbsp;China&#39;s iron ore imports rose in November even as steel mills are cutting output as part of a government drive against pollution as some analysts said traders were stockpiling inventory.&nbsp;

Iron ore imports &quot;were not necessarily just by steel mills but could have been also purchased by traders&quot;, said Helen Lau at Argonaut Securities in Hong Kong. He added, &quot;They&#39;re trying to accumulate stocks and will do so maybe through March in anticipation of Chinese mills resuming production when China lifts the winter restrictions&quot;.&nbsp;

Steel exports rose from the previous month to 5.35 million tonnes in November, data showed.&nbsp;The rebound in imports comes as China&#39;s yuan has fallen 2.8 percent against the dollar since hitting its 2017 peak on September 8.&nbsp;The latest data showed the country posted a trade surplus of $40.21 billion for the month versus expectations of $35 billion in November after October&#39;s $38.185 billion. Despite the overall strength of the November data, imports could come under pressure as China&#39;s economy cools, analysts say.&nbsp;

&quot;Chinese trade looks to have been surprisingly strong last month. We expect exports to continue to perform well in the coming months on the back of strong global demand&quot;, Capital Economics China economist Julian Evans-Pritchard wrote in a note.&nbsp;&quot;However, we are skeptical that the strength of imports can be sustained given that the delayed impact of policy tightening and a cooling property market are set to weigh on Chinese demand for commodities in coming quarters&quot;.

China's natural gas imports and iron imports rose in November, while steel mills are trying to cut output in a drive against pollution. The growth is still phenomenal for world's second-biggest economy

China's exports and imports unexpectedly accelerated last month in an encouraging sign for the world's second-biggest economy, though analysts expect growth to continue cooling amid a government crackdown on financial risks and polluting factories. As global demand has surprised with its strength, consumers have lapped up Chinese goods at a rapid rate this year, giving the economy a boost and providing policymakers, room to tighten rules to curb high-risk lending. Exports in November rose 12.3 percent year-on-year, the fastest pace in eight months, led by strong sales of electronics and high-tech goods, while commodity purchases helped lift imports. The number beat analysts' forecast of a 5.0 percent increase and compared with 6.9 percent growth in October. Imports grew 17.7 percent year-on-year in November, the General Administration of Customs said on Friday, also well above expectations of 11.3 percent growth and rising at the fastest pace since September. The numbers may help to ease concerns of slowing momentum in Asia's economic powerhouse, which had surprised markets with robust growth of nearly 6.9 percent in the first nine months of this year, thanks to a government-led infrastructure spending spree and unexpected strength in exports. "While we still expect China's domestic economy to cool in 2018 on gradually tighter fiscal policies, the November import data shows that there are upside risks to our China outlook", said Louis Kuijs, head of Asia Economics at Oxford Economics in Hong Kong. Tighter rules to rein in risks from a rapid build-up in debt and cut pollution have weighed on overall activity since the third quarter. Besides ramped-up efforts to reduce winter pollution, authorities unveiled fresh regulatory measures last month for the financial sector, clamping down on high-risk lending and halting some dubious infrastructure projects that would swell local governments' debt. Imports Bounce To Tail Off? Some of China's northern provinces have ordered factories to throttle back or halt output to reduce notoriously thick winter smog. While the war on pollution had been expected to reduce raw materials imports, Friday's trade numbers showed commodity imports rebounded last month. China's natural gas imports in November rose to a record as domestic demand surged while crude imports were the second-highest ever, as refiners ramped up output to cash in on strong profits as fuel prices soar. China's iron ore imports rose in November even as steel mills are cutting output as part of a government drive against pollution as some analysts said traders were stockpiling inventory. Iron ore imports "were not necessarily just by steel mills but could have been also purchased by traders", said Helen Lau at Argonaut Securities in Hong Kong. He added, "They're trying to accumulate stocks and will do so maybe through March in anticipation of Chinese mills resuming production when China lifts the winter restrictions". Steel exports rose from the previous month to 5.35 million tonnes in November, data showed. The rebound in imports comes as China's yuan has fallen 2.8 percent against the dollar since hitting its 2017 peak on September 8. The latest data showed the country posted a trade surplus of $40.21 billion for the month versus expectations of $35 billion in November after October's $38.185 billion. Despite the overall strength of the November data, imports could come under pressure as China's economy cools, analysts say. "Chinese trade looks to have been surprisingly strong last month. We expect exports to continue to perform well in the coming months on the back of strong global demand", Capital Economics China economist Julian Evans-Pritchard wrote in a note. "However, we are skeptical that the strength of imports can be sustained given that the delayed impact of policy tightening and a cooling property market are set to weigh on Chinese demand for commodities in coming quarters".

China exports growth hits eight-month high, imports defy pollution curbs

Asian shares rallied for a second session on Friday as economic news from China and Japan beat all expectations while bitcoin, the market&#39;s new crypto-star, tumbled more than 10 percent after a meteoric ascent in recent weeks.

Sterling briefly rose after the head of the European Commission Jean-Claude Juncker said the EU and the UK have made a breakthrough in the negotiations on how to run their post-Brexit land border and that the two sides will move to the next step of negotiation.

Beijing reported exports surged 12.3 percent in November from a year earlier, more than double the forecast, while imports climbed almost 18 percent.

Iron ore and copper imports enjoyed a stellar rebound, which could help stem a recent pullback in commodity prices.

Japan&#39;s Nikkei led the way as the yen eased on the dollar, rising 1.1 percent on top of Thursday&#39;s 1.45 percent bounce to be almost back where it started the week.

Revised data showed Japan&#39;s economy grew twice as fast as first thought as business spending jumped.

European stock futures were up, with euro Stoxx 50 futures rising 0.6 percent in early trade.

Australian stocks put on 0.3 percent while MSCI&#39;s broadest index of Asia-Pacific shares outside Japan rose 0.7 percent.

Bidders were encouraged by a steadier performance on Wall Street, where the Dow rose 0.29 percent. The S&amp;P 500 gained 0.29 percent and the Nasdaq 0.54 percent.

Still to come as US&nbsp;nonfarm payrolls, with investors looking for 200,000 new jobs in November and much talk wages might show some welcome strength.

Sterling which briefly rose as high as $1.3521 on the Brexit accord, two cents above its low of $1.3320 on Thursday, last traded at $1.3461, down 0.1 percent for the day.

It was one of only a few currencies to gain on the US&nbsp;dollar, which was otherwise broadly firmer.

The US&nbsp;currency cleared 113.00 yen to reach 113.34, while the euro touched a two-week low at $1.1763. Against a basket of currencies, the dollar held firm at 93.848.

Digital Darling

Bitcoin crested above $16,666 on the Bitstamp exchange having doubled in value in just two weeks.

But within a few hours, it dropped almost 15 percent from that level to as low as 14,239 in volatile trade, intensifying the debate about whether it is a bubble about to burst. It last stood at $15,641, down 6 percent on the day.

The largest US&nbsp;cryptocurrency exchange has been struggling to manage record traffic, with an imminent launch of the first bitcoin futures contract further fuelling investor interest.

Some, however, warned the coming of futures might prove to be the downfall of the digital darling.

&quot;Dragging bitcoin into the futures market poses a risk of big players opening doors to short-selling hell,&quot; said Naeem Aslam, the chief market analyst at Think Markets UK.

&quot;Futures markets make it possible to short in decent size with a lot of liquidity, thus affecting the price discovery in the underlying asset market.&quot;

The spectacular rise of the cryptocurrency has stolen some thunder from gold bulls, providing an asset that is also seen as a hedge against inflation and government interference.

Gold steadied at $1,258.10, having finally breached its recent tight trading range to hit a four-month trough at $1,245.60.

&quot;Demand for gold relative to supply has had centuries to reach an equilibrium,&quot; noted Alan Ruskin, a macro strategist at Deutsche Bank. &quot;Bitcoin global demand is still finding its place relative to constrained/inelastic supply.&quot;

Oil prices had gone the other way as a threatened strike by oil workers in Nigeria forced a bout of short covering.

Brent futures were barely changed at $62.19 a barrel, having climbed 98 cents overnight. US&nbsp;crude was off 4 cents at $56.65. [O/R]

Asian shares rallied for a second session on Friday as economic news from China and Japan beat all expectations while bitcoin, the market's new crypto-star, tumbled more than 10 percent after a meteoric ascent in recent weeks

Asian shares rallied for a second session on Friday as economic news from China and Japan beat all expectations while bitcoin, the market's new crypto-star, tumbled more than 10 percent after a meteoric ascent in recent weeks. Sterling briefly rose after the head of the European Commission Jean-Claude Juncker said the EU and the UK have made a breakthrough in the negotiations on how to run their post-Brexit land border and that the two sides will move to the next step of negotiation. Beijing reported exports surged 12.3 percent in November from a year earlier, more than double the forecast, while imports climbed almost 18 percent. Iron ore and copper imports enjoyed a stellar rebound, which could help stem a recent pullback in commodity prices. Japan's Nikkei led the way as the yen eased on the dollar, rising 1.1 percent on top of Thursday's 1.45 percent bounce to be almost back where it started the week. Revised data showed Japan's economy grew twice as fast as first thought as business spending jumped. European stock futures were up, with euro Stoxx 50 futures rising 0.6 percent in early trade. Australian stocks put on 0.3 percent while MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7 percent. Bidders were encouraged by a steadier performance on Wall Street, where the Dow rose 0.29 percent. The S&P 500 gained 0.29 percent and the Nasdaq 0.54 percent. Still to come as US nonfarm payrolls, with investors looking for 200,000 new jobs in November and much talk wages might show some welcome strength. Sterling which briefly rose as high as $1.3521 on the Brexit accord, two cents above its low of $1.3320 on Thursday, last traded at $1.3461, down 0.1 percent for the day. It was one of only a few currencies to gain on the US dollar, which was otherwise broadly firmer. The US currency cleared 113.00 yen to reach 113.34, while the euro touched a two-week low at $1.1763. Against a basket of currencies, the dollar held firm at 93.848. Digital Darling Bitcoin crested above $16,666 on the Bitstamp exchange having doubled in value in just two weeks. But within a few hours, it dropped almost 15 percent from that level to as low as 14,239 in volatile trade, intensifying the debate about whether it is a bubble about to burst. It last stood at $15,641, down 6 percent on the day. The largest US cryptocurrency exchange has been struggling to manage record traffic, with an imminent launch of the first bitcoin futures contract further fuelling investor interest. Some, however, warned the coming of futures might prove to be the downfall of the digital darling. "Dragging bitcoin into the futures market poses a risk of big players opening doors to short-selling hell," said Naeem Aslam, the chief market analyst at Think Markets UK. "Futures markets make it possible to short in decent size with a lot of liquidity, thus affecting the price discovery in the underlying asset market." The spectacular rise of the cryptocurrency has stolen some thunder from gold bulls, providing an asset that is also seen as a hedge against inflation and government interference. Gold steadied at $1,258.10, having finally breached its recent tight trading range to hit a four-month trough at $1,245.60. "Demand for gold relative to supply has had centuries to reach an equilibrium," noted Alan Ruskin, a macro strategist at Deutsche Bank. "Bitcoin global demand is still finding its place relative to constrained/inelastic supply." Oil prices had gone the other way as a threatened strike by oil workers in Nigeria forced a bout of short covering. Brent futures were barely changed at $62.19 a barrel, having climbed 98 cents overnight. US crude was off 4 cents at $56.65. [O/R]

Asia cheers China trade boost, bitcoin comes off heady heights

Bitcoin tumbled more than 12 percent in volatile Asian trading on Friday, dropping below the $15,000 level after touching a record high above $16,000 earlier in the session.

Bitcoin was down 12.6 percent on the Bitstamp exchange at $14,500.76 as of 0530 GMT, after rising to a record $16,666.66.&nbsp;

It was still up more than 30 percent for the week, as investors debated about whether the cryptocurrency was in a bubble that was about to burst.

Bitcoin has gone down more than 12 percent from a record high of $16,666.66 to $14,500.76. The drop came after volatile Asian trading on Friday

Bitcoin tumbled more than 12 percent in volatile Asian trading on Friday, dropping below the $15,000 level after touching a record high above $16,000 earlier in the session. Bitcoin was down 12.6 percent on the Bitstamp exchange at $14,500.76 as of 0530 GMT, after rising to a record $16,666.66. It was still up more than 30 percent for the week, as investors debated about whether the cryptocurrency was in a bubble that was about to burst.

Bitcoin plummets more than 12 per cent to below $15,000

Oil prices were stable on Friday, held back by a strengthening U.S. dollar but supported by China&#39;s relentless thirst for crude amid the OPEC-led supply cuts that have already tightened the market this year.

US&nbsp;West Texas Intermediate (WTI) crude futures were at $56.68 a barrel at 0535 GMT, virtually unchanged from their last settlement at $56.69.&nbsp;Brent crude futures, the international benchmark for oil prices, were steady at $62.20 a barrel.&nbsp;

Traders said a stronger dollar, which has gained 0.9 percent this month against a basket of other leading currencies, was weighing on prices.&nbsp;A rising greenback attracts financial traders who switch investments in commodity futures and foreign exchange. A strong dollar is also seen by many as a brake on crude prices, as it makes dollar-denominated oil purchases more expensive in countries that use other currencies.

&quot;A strong U.S. dollar could act as a headwind to commodities&quot;, Bank of America Merrill Lynch (BoAML) said in its 2018 outlook.&nbsp;Despite this, China&#39;s booming oil demand will overtake the United States as the world&#39;s biggest crude importer, this year.

China&#39;s crude oil imports rose to 37.04 million tonnes in November, or 9.01 million barrels per day (bpd), the second highest on record, data from the General Administration of Customs showed on Friday.&nbsp;&quot;China&#39;s crude oil imports will continue to rise over the coming years, as output declines from several of its giant onshore fields... This will inevitably see China become more reliant on crude oil imports over our forecast period, with import dependency set to increase from a record 68.0 percent in 2017 to nearly 80 percent by 2021&quot;, BMI Research said.

Bank of America Merrill Lynch, meanwhile, said healthy global demand and tight supplies should see Brent crude oil rise to $70 per barrel by mid-year.&nbsp;U.S. investment bank Jefferies said it expects 2018 global oil demand growth of 1.5 million bpd, driven by near 10 percent demand growth in China.&nbsp;

On the supply side, oil prices have been receiving support from the Organization of the Petroleum Exporting Countries (OPEC) and a group of non-OPEC producers, most importantly Russia, which has been withholding supplies to tighten the market.&nbsp;Largely because of these voluntary production cuts, oil prices rose sharply between June and October, with Brent gaining around 40 percent in value.

Threatening to undermine OPEC&#39;s goal to tighten markets is U.S. oil production, which has risen by more than 15 percent since mid-2016 to 9.7 million barrels per day (bpd), the highest level since the early 1970s and close to the output of top producers Russia and Saudi Arabia.&nbsp;The EIA monthly data on U.S. crude production published November 30 was also somewhat bearish.

Oil prices in the world were stable on Friday as China's thirst for crude countered continuously strengthening U.S. dollar. It is speculated that China's booming oil demand will result in it becoming the world's biggest crude importer

Oil prices were stable on Friday, held back by a strengthening U.S. dollar but supported by China's relentless thirst for crude amid the OPEC-led supply cuts that have already tightened the market this year. US West Texas Intermediate (WTI) crude futures were at $56.68 a barrel at 0535 GMT, virtually unchanged from their last settlement at $56.69. Brent crude futures, the international benchmark for oil prices, were steady at $62.20 a barrel. Traders said a stronger dollar, which has gained 0.9 percent this month against a basket of other leading currencies, was weighing on prices. A rising greenback attracts financial traders who switch investments in commodity futures and foreign exchange. A strong dollar is also seen by many as a brake on crude prices, as it makes dollar-denominated oil purchases more expensive in countries that use other currencies. "A strong U.S. dollar could act as a headwind to commodities", Bank of America Merrill Lynch (BoAML) said in its 2018 outlook. Despite this, China's booming oil demand will overtake the United States as the world's biggest crude importer, this year. China's crude oil imports rose to 37.04 million tonnes in November, or 9.01 million barrels per day (bpd), the second highest on record, data from the General Administration of Customs showed on Friday. "China's crude oil imports will continue to rise over the coming years, as output declines from several of its giant onshore fields... This will inevitably see China become more reliant on crude oil imports over our forecast period, with import dependency set to increase from a record 68.0 percent in 2017 to nearly 80 percent by 2021", BMI Research said. Bank of America Merrill Lynch, meanwhile, said healthy global demand and tight supplies should see Brent crude oil rise to $70 per barrel by mid-year. U.S. investment bank Jefferies said it expects 2018 global oil demand growth of 1.5 million bpd, driven by near 10 percent demand growth in China. On the supply side, oil prices have been receiving support from the Organization of the Petroleum Exporting Countries (OPEC) and a group of non-OPEC producers, most importantly Russia, which has been withholding supplies to tighten the market. Largely because of these voluntary production cuts, oil prices rose sharply between June and October, with Brent gaining around 40 percent in value. Threatening to undermine OPEC's goal to tighten markets is U.S. oil production, which has risen by more than 15 percent since mid-2016 to 9.7 million barrels per day (bpd), the highest level since the early 1970s and close to the output of top producers Russia and Saudi Arabia. The EIA monthly data on U.S. crude production published November 30 was also somewhat bearish.

Oil prices steady as Chinese demand counters stronger dollar

Benchmark BSE Sensex regained the key 33,000 mark at the start of trading today after buying by retail investors and domestic institutions gathered momentum amid strong global cues.

The broader NSE Nifty too went past the 10,200-level.

The 30-share Sensex was trading higher by 190.36 points, or 0.57 per cent, at 33,139.57, with all sectoral indices in the green, led by consumer durables, bank, metal and auto.

The gauge had rallied 352.03 points yesterday.

The NSE Nifty too rose 60.65 points, or 0.59 per cent, at 10,227.35 in early trade today.

Brokers said unabated buying by retail and domestic institutional investors and a firm trend in other Asian markets influenced sentiment here.

Prominent gainers included Tata Motors, Bharti Airtel, Adani Ports, ICICI Bank, Axis Bank, Maruti Suzuki, ONGC, HDFC Bank, HDFC Ltd, Bajaj Auto, Wipro, TCS, Cipla and SBI, gaining up to 1.68 per cent.

Japan&#39;s Nikkei was up 1.22 per cent while Hong Kong&#39;s Hang Seng rose 0.57 per cent in early trade today. Shanghai Composite, however, shed 0.08 per cent.

The US Dow Jones Industrial Average ended 0.29 per cent higher in yesterday&#39;s trade.&nbsp;

Benchmark BSE Sensex regained the key 33,000 mark at the start of trading today after buying by retail investors and domestic institutions gathered momentum amid strong global cues.

Benchmark BSE Sensex regained the key 33,000 mark at the start of trading today after buying by retail investors and domestic institutions gathered momentum amid strong global cues. The broader NSE Nifty too went past the 10,200-level. The 30-share Sensex was trading higher by 190.36 points, or 0.57 per cent, at 33,139.57, with all sectoral indices in the green, led by consumer durables, bank, metal and auto. The gauge had rallied 352.03 points yesterday. The NSE Nifty too rose 60.65 points, or 0.59 per cent, at 10,227.35 in early trade today. Brokers said unabated buying by retail and domestic institutional investors and a firm trend in other Asian markets influenced sentiment here. Prominent gainers included Tata Motors, Bharti Airtel, Adani Ports, ICICI Bank, Axis Bank, Maruti Suzuki, ONGC, HDFC Bank, HDFC Ltd, Bajaj Auto, Wipro, TCS, Cipla and SBI, gaining up to 1.68 per cent. Japan's Nikkei was up 1.22 per cent while Hong Kong's Hang Seng rose 0.57 per cent in early trade today. Shanghai Composite, however, shed 0.08 per cent. The US Dow Jones Industrial Average ended 0.29 per cent higher in yesterday's trade.

Sensex reclaims 33,000-mark, up 190 points

As more and more businesses turn to social media to educate customers and target audience with respect to their product or service, WhatsApp recently published a blog giving out more information about its brand new application designed especially for business accounts.&nbsp;

&quot;Over 1 billion people use WhatsApp every day to stay connected with their family and friends, and over time, more people are using the app to communicate with businesses they care about too. In the coming months, we&#39;ll be testing new features that aim to solve some of these challenges and make it easier for people to communicate with the businesses they want to reach on WhatsApp,&quot; mentions WhatsApp&#39;s official blog.&nbsp;

A business account will be identified as the one created by using the official WhatsApp Business application. The logo will remain the remain, with a minor change that will replace the call logo at the centre of the green dialogue bubble with a &#39;B&#39;.

While a business account will sport a grey question mark badge in its profile, a confirmed account will have a grey checkmark badge.&nbsp;

A business account will get confirmed only after WhatsApp confirms the phone number associated with the account with the number linked to the business. A verified account, on the other hand, will feature a green checkmark badge in its profile right after WhatsApp confirms that an authentic brand owns the business account.&nbsp;

&quot;We also provide you with the tools you need to control your experience with businesses. You can block business accounts and report them as spam at any time, right within the chat,&quot; as mentioned on WhatsApp&#39;s blog.&nbsp;

The much-awaited WhatsApp Business app is currently being tested by a private group of testers.

WhatsApp is expected to roll out the standalone business app shortly.&nbsp;

The much-awaited WhatsApp Business app is currently being tested by a private group of testers

As more and more businesses turn to social media to educate customers and target audience with respect to their product or service, WhatsApp recently published a blog giving out more information about its brand new application designed especially for business accounts. "Over 1 billion people use WhatsApp every day to stay connected with their family and friends, and over time, more people are using the app to communicate with businesses they care about too. In the coming months, we'll be testing new features that aim to solve some of these challenges and make it easier for people to communicate with the businesses they want to reach on WhatsApp," mentions WhatsApp's official blog. A business account will be identified as the one created by using the official WhatsApp Business application. The logo will remain the remain, with a minor change that will replace the call logo at the centre of the green dialogue bubble with a 'B'. While a business account will sport a grey question mark badge in its profile, a confirmed account will have a grey checkmark badge. A business account will get confirmed only after WhatsApp confirms the phone number associated with the account with the number linked to the business. A verified account, on the other hand, will feature a green checkmark badge in its profile right after WhatsApp confirms that an authentic brand owns the business account. "We also provide you with the tools you need to control your experience with businesses. You can block business accounts and report them as spam at any time, right within the chat," as mentioned on WhatsApp's blog. The much-awaited WhatsApp Business app is currently being tested by a private group of testers. WhatsApp is expected to roll out the standalone business app shortly.

WhatsApp to roll out a standalone Business app soon; features officially revealed

Gold prices steadied on Friday but were on track for their biggest weekly fall since May ahead of US&nbsp;employment data later that could influence the pace of US&nbsp;interest rate rises.

Gold this week broke below a recent trading range and tumbled through technical levels to its lowest since July as progress on US&nbsp;tax reform fuelled optimism about the US&nbsp;economy and boosted the dollar.

&quot;You can put it down to the strength of the dollar and the ebullience of investors regarding equities and all things risk-on,&quot; said ETF Securities analyst Martin Arnold.

&quot;When in such a positive mindset investors don&#39;t look for defensive assets like gold.&quot;

The dollar was given an extra boost on Friday after a funding bill eased fears of a US&nbsp;government shutdown this month. A stronger dollar makes bullion more expensive for holders of other currencies and can dampen demand.

Spot gold was down 0.1 percent at $1,245.66 an ounce at 1109 GMT, close to Thursday&#39;s low of $1243.71, the weakest since July 26. It had fallen 2.7 percent this week, its third consecutive weekly fall and the biggest since early May.

US&nbsp;gold futures were 0.4 percent lower at $1,247.80.

Selling was triggered after gold broke below $1,260, the bottom of its trading range since September, and plunged below its 200-day moving average for the first time since July.

Technical support is now at $1,250 and a Fibonacci level at $1,240.90 but momentum indicators suggest that gold could fall to $1,204.90, the July low, said analysts at ScotiaMocatta.

However, ETF Securities&#39; Arnold said prices were supported by risks including US&nbsp;policy paralysis, tensions in North Korea and the Middle East, and a potential correction in equity valuations. He said gold&#39;s fair value was $1,260-$1,280.

Gold is traditionally seen as a safe investment in times of uncertainty.

Investors were looking ahead to US&nbsp;non-farm payrolls data at 1330 GMT. The US&nbsp;Federal Reserve is expected next week to announce a rise in interest rates and offer guidance on the pace of further increases. Strong payrolls would support the case for aggressive rate rises.

Gold is sensitive to rising interest rates because they push up bond yields, reducing the appeal of non-yielding gold, and tend to boost the dollar.

Among other precious metals, silver was up 0.4 percent at $15.78 but down 4 percent this week.

Platinum was 0.1 percent lower at $892.20 an ounce and on track to fall nearly 5 percent this week, its biggest weekly loss in nine months.

Palladium was up 0.1 percent at $1,013.75 an ounce.

Gold prices steadied on Friday but were on track for their biggest weekly fall since May ahead of US?employment data later that could influence the pace of US?interest rate rises.

Gold prices steadied on Friday but were on track for their biggest weekly fall since May ahead of US employment data later that could influence the pace of US interest rate rises. Gold this week broke below a recent trading range and tumbled through technical levels to its lowest since July as progress on US tax reform fuelled optimism about the US economy and boosted the dollar. "You can put it down to the strength of the dollar and the ebullience of investors regarding equities and all things risk-on," said ETF Securities analyst Martin Arnold. "When in such a positive mindset investors don't look for defensive assets like gold." The dollar was given an extra boost on Friday after a funding bill eased fears of a US government shutdown this month. A stronger dollar makes bullion more expensive for holders of other currencies and can dampen demand. Spot gold was down 0.1 percent at $1,245.66 an ounce at 1109 GMT, close to Thursday's low of $1243.71, the weakest since July 26. It had fallen 2.7 percent this week, its third consecutive weekly fall and the biggest since early May. US gold futures were 0.4 percent lower at $1,247.80. Selling was triggered after gold broke below $1,260, the bottom of its trading range since September, and plunged below its 200-day moving average for the first time since July. Technical support is now at $1,250 and a Fibonacci level at $1,240.90 but momentum indicators suggest that gold could fall to $1,204.90, the July low, said analysts at ScotiaMocatta. However, ETF Securities' Arnold said prices were supported by risks including US policy paralysis, tensions in North Korea and the Middle East, and a potential correction in equity valuations. He said gold's fair value was $1,260-$1,280. Gold is traditionally seen as a safe investment in times of uncertainty. Investors were looking ahead to US non-farm payrolls data at 1330 GMT. The US Federal Reserve is expected next week to announce a rise in interest rates and offer guidance on the pace of further increases. Strong payrolls would support the case for aggressive rate rises. Gold is sensitive to rising interest rates because they push up bond yields, reducing the appeal of non-yielding gold, and tend to boost the dollar. Among other precious metals, silver was up 0.4 percent at $15.78 but down 4 percent this week. Platinum was 0.1 percent lower at $892.20 an ounce and on track to fall nearly 5 percent this week, its biggest weekly loss in nine months. Palladium was up 0.1 percent at $1,013.75 an ounce.

Dollar rise pushes gold toward biggest weekly fall since May

The island-nation of Mauritius has started buying fuel from Saudi Arabia&#39;s state-owned oil company Saudi Aramco after a court ordered a ban on Indian fuel supplies because of a dispute between the country and a shipping firm.

For years, Indian oil refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) has been the sole supplier to Mauritius of fuels such as gasoline and diesel. However, an Indian court has ordered a ship loaded with fuel from MRPL for the island to stay in port until the Mauritian government settles an outstanding $120 million payment to shipper Betamax over a contract dispute.&nbsp;

Mauritian Trade Minister Ashit Gungah told reporters on Thursday in the country&#39;s capital of Port St. Louis that Aramco will supply fuel.&nbsp;&quot;I can reassure the population and economic operators that we have sufficient stock of fuel&quot;, he said. &quot;A first tanker is expected in the country during the weekend and two more tankers will arrive next week. A fourth tanker is due by mid-December&quot;.&nbsp;He further said the supplies would be sufficient to meet demand until January 2018.

&quot;Other friendly countries have also accepted to help Mauritius&quot;, Gungah said.&nbsp;The fuel issues stem from a dispute between the State Trading Corporation of Mauritius (STCM), which buys fuel from MRPL, and Mauritian-based shipper Betamax.

STCM in 2009 signed a 15-year contract with Betamax to transport fuels from MRPL in the southern the Indian state of Karnataka to Port Louis. The contract was worth 8 billion Mauritius rupees ($238 million), according to local media reports.&nbsp;But in 2015 it terminated the contract with Betamax.

The company won a case in June against STCM for premature termination at the Singapore International Arbitration Centre that awarded Betamax more than $120 million.&nbsp;Betamax pressed the case at the Karnataka High Court after STCM did not make payment.

A Karnataka court order reviewed by Reuters directed port authorities at Mangalore &quot;to refrain from providing any clearance&quot; to the tanker Pacific Diamond from leaving India with 40,000 tonnes of unspecified petroleum product for delivery to STCM.&nbsp;The ship is to be held until the next hearing on the matter on Monday, the order said.&nbsp;

Betamax can enforce the arbitration award against STCM&#39;s assets in any country where the award is enforceable.&nbsp;MRPL exports about 1.2 million tonnes of refined fuels to Mauritius a year.&nbsp;MRPL will look at exporting the surplus fuel if the ban continues on supplies to Port Louis, a company official said on condition of anonymity.&nbsp;

An MRPL spokesman declined to comment on the matter while Saudi Aramco did not immediately reply to an e-mail.&nbsp;

After Indian court ordered an oil tanker loaded with fuel for Mauritius to stay in port until all outstanding has been settled, Mauritius buys fuel from Saudi Arabia

The island-nation of Mauritius has started buying fuel from Saudi Arabia's state-owned oil company Saudi Aramco after a court ordered a ban on Indian fuel supplies because of a dispute between the country and a shipping firm. For years, Indian oil refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) has been the sole supplier to Mauritius of fuels such as gasoline and diesel. However, an Indian court has ordered a ship loaded with fuel from MRPL for the island to stay in port until the Mauritian government settles an outstanding $120 million payment to shipper Betamax over a contract dispute. Mauritian Trade Minister Ashit Gungah told reporters on Thursday in the country's capital of Port St. Louis that Aramco will supply fuel. "I can reassure the population and economic operators that we have sufficient stock of fuel", he said. "A first tanker is expected in the country during the weekend and two more tankers will arrive next week. A fourth tanker is due by mid-December". He further said the supplies would be sufficient to meet demand until January 2018. "Other friendly countries have also accepted to help Mauritius", Gungah said. The fuel issues stem from a dispute between the State Trading Corporation of Mauritius (STCM), which buys fuel from MRPL, and Mauritian-based shipper Betamax. STCM in 2009 signed a 15-year contract with Betamax to transport fuels from MRPL in the southern the Indian state of Karnataka to Port Louis. The contract was worth 8 billion Mauritius rupees ($238 million), according to local media reports. But in 2015 it terminated the contract with Betamax. The company won a case in June against STCM for premature termination at the Singapore International Arbitration Centre that awarded Betamax more than $120 million. Betamax pressed the case at the Karnataka High Court after STCM did not make payment. A Karnataka court order reviewed by Reuters directed port authorities at Mangalore "to refrain from providing any clearance" to the tanker Pacific Diamond from leaving India with 40,000 tonnes of unspecified petroleum product for delivery to STCM. The ship is to be held until the next hearing on the matter on Monday, the order said. Betamax can enforce the arbitration award against STCM's assets in any country where the award is enforceable. MRPL exports about 1.2 million tonnes of refined fuels to Mauritius a year. MRPL will look at exporting the surplus fuel if the ban continues on supplies to Port Louis, a company official said on condition of anonymity. An MRPL spokesman declined to comment on the matter while Saudi Aramco did not immediately reply to an e-mail.

Mauritius turns to Saudi fuel cargoes after court bans Indian supplies

Bitcoin flirted with $17,000 on Thursday, triggering a warning the cryptocurrency was like a &quot;train with no brakes&quot; and prompting fresh concern about its looming launch on mainstream markets.

Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and got as high as $16,777 before pulling back, according to Bloomberg data. Near 2145 GMT, bitcoin stood at $16,070.

<a href="http://www.wionews.com/photos/a-little-bit-of-coins-bitcoins-explained-via-a-comic-strip-45">The rally came just a day after the virtual currency,</a> which has been used to buy everything from an ice cream to a pint of beer, hit the $12,000 mark for the first time. The eye-popping rise has seen the currency&#39;s value soar more than 50 percent in just one week, and from just $752 in mid-January.

Bitcoin, which came into being in 2009 as a bit of encrypted software, has no central bank backing it and no legal exchange rate.&nbsp;

It has surged dramatically in the past month, driven by growing acceptance among traditional investors of an innovation once considered the preserve of computer nerds and financial experts, and sometimes more shady users.

But some, including the US Federal Reserve, have warned against dabbling in bitcoin as it could threaten financial stability, and fears of a bubble have increased as the price has soared.

<a href="http://www.wionews.com/business-economy/bitcoin-soars-beyond-15000-climbs-2000-in-under-12-hours-26161">&quot;Bitcoin now seems like a charging train with no brakes,&quot; </a>said Shane Chanel, from Sydney-based ASR Wealth Advisers. &quot;There is an unfathomable amount of new participants piling into the cryptocurrency market.&quot;

But he warned: &quot;Once the hype slows down, we will most certainly see some sort of correction.&quot;

Financial industry concerns&nbsp;

There also are mounting concerns about its introduction into the mainstream financial system after a US regulator last week cleared the way for bitcoin futures to trade on major exchanges, a decision which analysts say has helped spur the recent rally.

The Commodity Futures Trading Commission decision allows bitcoin derivatives to be offered on the Cboe Futures Exchange starting this weekend and on the world&#39;s biggest futures venue, the Chicago Mercantile Exchange (CME), from December 18.

But the Futures Industry Association, which groups some of the world&#39;s biggest derivatives brokerages, criticized the CFTC&#39;s move in a letter to the regulator, saying contracts are being rushed through without properly weighing the risks.

&quot;A more thorough and considered process would have allowed for a robust public discussion among clearing member firms, exchanges and clearing houses,&quot; the association said.

Bitcoin transactions happen when heavily encrypted codes are passed across a computer network.&nbsp;

Goldman Sachs, an FIA member, plans to clear bitcoin futures contracts for some clients, meaning it will serve as intermediary to enable transactions, a spokeswoman said.&nbsp;

&quot;Given that this is a new product, as expected we are evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process,&quot; she said.&nbsp;

The NiceHash marketplace was meanwhile on Thursday investigating a security breach resulting in the theft of bitcoin.

&quot;Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days,&quot; NiceHash said in a statement.&nbsp;

&quot;In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency.&quot;

Bitcoin and other virtual currencies use blockchain, which records transactions that are updated in real time on an online ledger and maintained by a network of computers.

In 2014 major Tokyo-based bitcoin exchange MtGox collapsed after admitting that 850,000 coins, worth around $480 million at the time, had disappeared from its vaults.

Bitcoin&#39;s use on the underground Silk Road website, where users could use it to buy drugs and guns, also raised suspicions about the virtual money.

Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and got as high as $16,777 before pulling back, according to Bloomberg data. Near 2145 GMT, bitcoin stood at $16,070

Bitcoin flirted with $17,000 on Thursday, triggering a warning the cryptocurrency was like a "train with no brakes" and prompting fresh concern about its looming launch on mainstream markets. Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and got as high as $16,777 before pulling back, according to Bloomberg data. Near 2145 GMT, bitcoin stood at $16,070. The rally came just a day after the virtual currency, which has been used to buy everything from an ice cream to a pint of beer, hit the $12,000 mark for the first time. The eye-popping rise has seen the currency's value soar more than 50 percent in just one week, and from just $752 in mid-January. Bitcoin, which came into being in 2009 as a bit of encrypted software, has no central bank backing it and no legal exchange rate. It has surged dramatically in the past month, driven by growing acceptance among traditional investors of an innovation once considered the preserve of computer nerds and financial experts, and sometimes more shady users. But some, including the US Federal Reserve, have warned against dabbling in bitcoin as it could threaten financial stability, and fears of a bubble have increased as the price has soared. "Bitcoin now seems like a charging train with no brakes," said Shane Chanel, from Sydney-based ASR Wealth Advisers. "There is an unfathomable amount of new participants piling into the cryptocurrency market." But he warned: "Once the hype slows down, we will most certainly see some sort of correction." Financial industry concerns There also are mounting concerns about its introduction into the mainstream financial system after a US regulator last week cleared the way for bitcoin futures to trade on major exchanges, a decision which analysts say has helped spur the recent rally. The Commodity Futures Trading Commission decision allows bitcoin derivatives to be offered on the Cboe Futures Exchange starting this weekend and on the world's biggest futures venue, the Chicago Mercantile Exchange (CME), from December 18. But the Futures Industry Association, which groups some of the world's biggest derivatives brokerages, criticized the CFTC's move in a letter to the regulator, saying contracts are being rushed through without properly weighing the risks. "A more thorough and considered process would have allowed for a robust public discussion among clearing member firms, exchanges and clearing houses," the association said. Bitcoin transactions happen when heavily encrypted codes are passed across a computer network. Goldman Sachs, an FIA member, plans to clear bitcoin futures contracts for some clients, meaning it will serve as intermediary to enable transactions, a spokeswoman said. "Given that this is a new product, as expected we are evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process," she said. The NiceHash marketplace was meanwhile on Thursday investigating a security breach resulting in the theft of bitcoin. "Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days," NiceHash said in a statement. "In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency." Bitcoin and other virtual currencies use blockchain, which records transactions that are updated in real time on an online ledger and maintained by a network of computers. In 2014 major Tokyo-based bitcoin exchange MtGox collapsed after admitting that 850,000 coins, worth around $480 million at the time, had disappeared from its vaults. Bitcoin's use on the underground Silk Road website, where users could use it to buy drugs and guns, also raised suspicions about the virtual money.

Bitcoin surges above $16,000 as concerns mount

Cryptocurrency Bitcoin plummets over 12 percent to below $15,000. Bitcoin went from $1000 to over $14,000 in less than a year.

Your Story: Bitcoin drops below $15,000 mark

The dollar rose to its highest level in two weeks on Thursday over the optimism about the United States would successfully push through tax reforms, while world shares rebounded after two straight days of losses.

The U.S. currency slipped against the safe-haven, Japanese yen on Wednesday after U.S. President Donald Trump said he would recognize Jerusalem as the capital of Israel - a move that imperiled Middle East peace efforts and provoked widespread condemnation.&nbsp;But amidst a broader climb in global stocks on Thursday, the greenback rose 0.3 percent against the yen to trade at 112.60 yen and hit a two-week high against a basket of peers.

The MSCI World Index, which tracks shares in 47 countries, was up 0.1 percent.&nbsp;Underpinning some of the dollar&#39;s gains analysts said was some cautious optimism on progress over U.S. tax reforms.&nbsp;

U.S. Senate Republicans agreed to talks with the House of Representatives on sweeping tax legislation on Wednesday, amid early signs that lawmakers could bridge their differences and agree on a final bill ahead of a self-imposed December 22 deadline.

&quot;The dollar is fighting back a little bit but there&#39;s still some caution, as it could still be a few weeks until we know the outcome of the tax reform bill&quot;, said Rabobank currency strategist Jane Foley, in London. She further added, &quot;The yen will be sensitive if geopolitical tensions rise again, and I think there&#39;s an inevitability to that, so I don&#39;t think there&#39;s going to be too much upside for dollar/yen in this environment&quot;.

Upbeat U.S. private-sector employment data released on Wednesday also provided some support to the dollar. But strategists said the currency would trade in narrow ranges until the release of the closely watched non-farm payrolls report on Friday.&nbsp;Bitcoin soared to a record high of more than $14,500, up almost 7 percent on the day and continuing a staggering surge from less than $1,000 at the beginning of the year.

Stock Recover

European stock markets appeared to take their cues from a general recovery in tech stocks overnight in Asia and Wall Street.&nbsp;The pan-European STOXX 600 was up 0.2 percent with tech stocks initially up 0.5 percent. Financials, industrials, and healthcare shares also added points to the index.

&quot;We have seen some aggressive moves in Asia, whereas Europe seems to be a bit more subdued&quot;, said David Madden, an analyst at CMC Markets in London. He further said, &quot;It&#39;s almost like European markets look for an excuse to selloff but it takes them a lot to be convinced to actually push higher&quot;.

Shares in the energy sector, which weighed on shares earlier in Wall Street and Asia, rose in Europe, as oil prices recovered from a big fall on Wednesday.&nbsp;U.S. West Texas Intermediate crude futures traded at $56.13 per barrel in European trade, up 0.3 percent on the day.&nbsp;Brent futures gained 0.4 percent to $61.45 per barrel.

MSCI&#39;s broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent as some technology bellwethers rebounded, with Tencent rising over 3 percent and Alibaba more than 2 percent.&nbsp;In Japan, the Nikkei jumped 1.5 percent, recouping much of its 2.0 percent loss the previous day, which was its biggest fall since late March.

The price of copper, seen as a barometer of global economic health because of its extensive industrial use, also fell sharply earlier this week, raising worries about the world growth outlook.&nbsp;Copper traded at $6,576 a tonne, up 0.5 percent on the day and above a two-month low of $6,507.5 touched on Tuesday.&nbsp;

European stock markets made general recovery in tech stocks overnight

The dollar rose to its highest level in two weeks on Thursday over the optimism about the United States would successfully push through tax reforms, while world shares rebounded after two straight days of losses. The U.S. currency slipped against the safe-haven, Japanese yen on Wednesday after U.S. President Donald Trump said he would recognize Jerusalem as the capital of Israel - a move that imperiled Middle East peace efforts and provoked widespread condemnation. But amidst a broader climb in global stocks on Thursday, the greenback rose 0.3 percent against the yen to trade at 112.60 yen and hit a two-week high against a basket of peers. The MSCI World Index, which tracks shares in 47 countries, was up 0.1 percent. Underpinning some of the dollar's gains analysts said was some cautious optimism on progress over U.S. tax reforms. U.S. Senate Republicans agreed to talks with the House of Representatives on sweeping tax legislation on Wednesday, amid early signs that lawmakers could bridge their differences and agree on a final bill ahead of a self-imposed December 22 deadline. "The dollar is fighting back a little bit but there's still some caution, as it could still be a few weeks until we know the outcome of the tax reform bill", said Rabobank currency strategist Jane Foley, in London. She further added, "The yen will be sensitive if geopolitical tensions rise again, and I think there's an inevitability to that, so I don't think there's going to be too much upside for dollar/yen in this environment". Upbeat U.S. private-sector employment data released on Wednesday also provided some support to the dollar. But strategists said the currency would trade in narrow ranges until the release of the closely watched non-farm payrolls report on Friday. Bitcoin soared to a record high of more than $14,500, up almost 7 percent on the day and continuing a staggering surge from less than $1,000 at the beginning of the year. Stock Recover European stock markets appeared to take their cues from a general recovery in tech stocks overnight in Asia and Wall Street. The pan-European STOXX 600 was up 0.2 percent with tech stocks initially up 0.5 percent. Financials, industrials, and healthcare shares also added points to the index. "We have seen some aggressive moves in Asia, whereas Europe seems to be a bit more subdued", said David Madden, an analyst at CMC Markets in London. He further said, "It's almost like European markets look for an excuse to selloff but it takes them a lot to be convinced to actually push higher". Shares in the energy sector, which weighed on shares earlier in Wall Street and Asia, rose in Europe, as oil prices recovered from a big fall on Wednesday. U.S. West Texas Intermediate crude futures traded at $56.13 per barrel in European trade, up 0.3 percent on the day. Brent futures gained 0.4 percent to $61.45 per barrel. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent as some technology bellwethers rebounded, with Tencent rising over 3 percent and Alibaba more than 2 percent. In Japan, the Nikkei jumped 1.5 percent, recouping much of its 2.0 percent loss the previous day, which was its biggest fall since late March. The price of copper, seen as a barometer of global economic health because of its extensive industrial use, also fell sharply earlier this week, raising worries about the world growth outlook. Copper traded at $6,576 a tonne, up 0.5 percent on the day and above a two-month low of $6,507.5 touched on Tuesday.

Dollar hits two-week high on US tax reform optimism, world shares climb

India Centre Foundation (ICF), a nonprofit and non-governmental organisation, which has been working for over two decades towards nation&#39;s socio-economic development, brings to India for the first-time ever, The Global Partnership Summit (GPS) 2017 which is scheduled to be held at Aerocity, New Delhi from December 11 to 14, 2017.

The GPS will focus on clean energy, healthcare, infrastructure and logistics, energy, tourism, art and culture, agro-economy, banking and finance, education and skill development, and information communication technology. The visionary behind the initiative is Vibhav Kant Upadhyay who has been at the forefront of many key development initiatives in the past two decades. He is also the Founder Chairman, GPS which is evolved from the successful - India-Japan Global Partnership (IJGP) Initiative.

Inspired by Japan&#39;s process of successful nation-building, India Center Foundation believes, a global partnership between India and Japan is not only of mutual national interests but will contribute to the rest of the world. GPS 2017, will witness the presence of 3000 delegates and over 200 speakers participating, including the prominent business leader, policymakers, think tanks, social change makers, youth leaders, influencers, and academicians.

This year&#39;s summit is expected to lay the foundation for a long-term mutually beneficial dialogue on key issues affecting the world as a whole. The event GPS 2017 is lead by Global Chairman Toshihiro Nikai, Founder Chairman, Vibhav Kant Upadhyay with co-chairmen Dr. Subhash Chandra and Dr. Subramaniam Swamy.

Eminent dignitaries and policy makers from India, speaking at the event include Nitin Gadkari, Minister for Road Transport and Highway, Gajendra Singh Sekhawat, Minister of State, Ministry of Agriculture and Farmers Welfare, Dr. Harsh Vardhan, Minister at Ministry of Science and Technology, Environment, Forest and Climate Change and Earth Sciences, J. P. Nadda, Minister of Health and Family Welfare, Alphons Joseph, Minister of Tourism, to name a few.

Other distinguished Indian and Global leaders, speaking at the event include Masayoshi Son, Founder, Chairman and CEO, SoftBank Group Corp, Shervin Pishevar, Co-founder and Executive Chairman, Hyperloop One, Manoj Kohli, Chairman, Softbank Energy, James Scott Mccallum, Former Governor, Wisconsin, Sri Sri Ravi Shankar, Founder, Art of Living, Amitabh Kant, CEO &amp; CEO, NITI Aayog, Nobel Laureate Kailash Satyarthi, children&#39;s rights activist and Founder of Kailash Satyarthi Children&#39;s Foundation, Bhavish Aggarwal, Founder and CEO, Ola Cabs, Daisaku Kadokawa, Mayor, Kyoto City, Japan, to name a few, will also speak at the event.

There will be around 40 sessions and about 10 plenaries during the summit that will be focused towards devising efficient and sustainable measures for achieving the set goals.

The global Partnership Summit is going to be held in India for the first time. With 40 sessions and 10 plenary, the summit will focus on efficient and sustainable measures

India Centre Foundation (ICF), a nonprofit and non-governmental organisation, which has been working for over two decades towards nation's socio-economic development, brings to India for the first-time ever, The Global Partnership Summit (GPS) 2017 which is scheduled to be held at Aerocity, New Delhi from December 11 to 14, 2017. The GPS will focus on clean energy, healthcare, infrastructure and logistics, energy, tourism, art and culture, agro-economy, banking and finance, education and skill development, and information communication technology. The visionary behind the initiative is Vibhav Kant Upadhyay who has been at the forefront of many key development initiatives in the past two decades. He is also the Founder Chairman, GPS which is evolved from the successful - India-Japan Global Partnership (IJGP) Initiative. Inspired by Japan's process of successful nation-building, India Center Foundation believes, a global partnership between India and Japan is not only of mutual national interests but will contribute to the rest of the world. GPS 2017, will witness the presence of 3000 delegates and over 200 speakers participating, including the prominent business leader, policymakers, think tanks, social change makers, youth leaders, influencers, and academicians. This year's summit is expected to lay the foundation for a long-term mutually beneficial dialogue on key issues affecting the world as a whole. The event GPS 2017 is lead by Global Chairman Toshihiro Nikai, Founder Chairman, Vibhav Kant Upadhyay with co-chairmen Dr. Subhash Chandra and Dr. Subramaniam Swamy. Eminent dignitaries and policy makers from India, speaking at the event include Nitin Gadkari, Minister for Road Transport and Highway, Gajendra Singh Sekhawat, Minister of State, Ministry of Agriculture and Farmers Welfare, Dr. Harsh Vardhan, Minister at Ministry of Science and Technology, Environment, Forest and Climate Change and Earth Sciences, J. P. Nadda, Minister of Health and Family Welfare, Alphons Joseph, Minister of Tourism, to name a few. Other distinguished Indian and Global leaders, speaking at the event include Masayoshi Son, Founder, Chairman and CEO, SoftBank Group Corp, Shervin Pishevar, Co-founder and Executive Chairman, Hyperloop One, Manoj Kohli, Chairman, Softbank Energy, James Scott Mccallum, Former Governor, Wisconsin, Sri Sri Ravi Shankar, Founder, Art of Living, Amitabh Kant, CEO & CEO, NITI Aayog, Nobel Laureate Kailash Satyarthi, children's rights activist and Founder of Kailash Satyarthi Children's Foundation, Bhavish Aggarwal, Founder and CEO, Ola Cabs, Daisaku Kadokawa, Mayor, Kyoto City, Japan, to name a few, will also speak at the event. There will be around 40 sessions and about 10 plenaries during the summit that will be focused towards devising efficient and sustainable measures for achieving the set goals.

First-time ever in India: The Global Partnership Summit 2017

In a move to further strengthen offerings for merchants, Paytm has become the majority shareholder of the entity formed through the merger of Nearbuy&nbsp;and Little Internet.

Paytm&#39;s strategic holding in Nearbuy-Little will provide its merchant partners with an opportunity to offer deals to acquire new customers and grow their business. Additionally, Paytm will serve its consumer base by showcasing a large number of exciting deals on its platforms and will further strengthen its presence in the offline commerce space.

&quot;This combination of Nearbuy and Little marks a great opportunity for us to reinforce our commitment to support small and large retailers in the new age of mobile commerce and payments. I am sure consumers will love the greater selection and the reach of everyday deals and discount offers&quot;, Vijay Shekhar Sharma, Founder and CEO, Paytm said.

Nearbuy&nbsp;and Little Internet have merged to create India&#39;s largest discovery and deals platform for local merchants and it will help offline merchants by enabling them to acquire new customers through deals. Nearbuy and Little work with over 40,000 small and large merchants across food, beauty, travel and other categories. The combined entity will continue to enable customers to discover deals and save money whenever they step out, and also help merchants effectively utilize their inventory and acquire new customers. The existing shareholders of Nearbuy including Sequoia India will also become shareholders of the merged entity.

&quot;The merger of the 2 of India&#39;s leading deals platforms in the country and the partnership with Paytm will help merchants and customers, bring business synergies and will further strengthen Paytm&#39;s presence in the O2O space in India&quot;, Manish Chopra, Co-founder, Little said.

Paytm has become the majority shareholder if the merger entity of Nearbuy.com and Little Internet, which is Nearbuy-Little. With this, Paytm's merchant partners will be provided with an opportunity to expand their customer base

In a move to further strengthen offerings for merchants, Paytm has become the majority shareholder of the entity formed through the merger of Nearbuy and Little Internet. Paytm's strategic holding in Nearbuy-Little will provide its merchant partners with an opportunity to offer deals to acquire new customers and grow their business. Additionally, Paytm will serve its consumer base by showcasing a large number of exciting deals on its platforms and will further strengthen its presence in the offline commerce space. "This combination of Nearbuy and Little marks a great opportunity for us to reinforce our commitment to support small and large retailers in the new age of mobile commerce and payments. I am sure consumers will love the greater selection and the reach of everyday deals and discount offers", Vijay Shekhar Sharma, Founder and CEO, Paytm said. Nearbuy and Little Internet have merged to create India's largest discovery and deals platform for local merchants and it will help offline merchants by enabling them to acquire new customers through deals. Nearbuy and Little work with over 40,000 small and large merchants across food, beauty, travel and other categories. The combined entity will continue to enable customers to discover deals and save money whenever they step out, and also help merchants effectively utilize their inventory and acquire new customers. The existing shareholders of Nearbuy including Sequoia India will also become shareholders of the merged entity. "The merger of the 2 of India's leading deals platforms in the country and the partnership with Paytm will help merchants and customers, bring business synergies and will further strengthen Paytm's presence in the O2O space in India", Manish Chopra, Co-founder, Little said.

Paytm to be majority shareholder in Nearbuy-Little merger entity

Sensex surged nearly 400 points today with capital goods, auto, power, metal, banks, gas and telecom stocks leading the way on Thursday.

BSE Sensex ended 1.08 per cent higher at 32,949.21 ensuring biggest single-day rise since November 1.

The Nifty closed up 1.22 per cent at 10,166.70, the biggest single-day gain since May 25.

The NSE Nifty reclaimed the 10,000 level rising to 10,150 during the day.

Bharti Airtel rose over 5 per cent and Idea Cellular rose 4.5 per cent in intra-day trade.

State-run GAIL rose over 7 per cent with Mahanagar Gas, Indraprastha Gas and Petronet LNG leading the rally today.

The Nifty closed up 1.22 per cent at 10,166.70, the biggest single-day gain since May 25.

Sensex surged nearly 400 points today with capital goods, auto, power, metal, banks, gas and telecom stocks leading the way on Thursday. BSE Sensex ended 1.08 per cent higher at 32,949.21 ensuring biggest single-day rise since November 1. The Nifty closed up 1.22 per cent at 10,166.70, the biggest single-day gain since May 25. The NSE Nifty reclaimed the 10,000 level rising to 10,150 during the day. Bharti Airtel rose over 5 per cent and Idea Cellular rose 4.5 per cent in intra-day trade. State-run GAIL rose over 7 per cent with Mahanagar Gas, Indraprastha Gas and Petronet LNG leading the rally today.

Sensex surges over 350 points on auto, gas and bank stocks

Most Asian currencies drifted on Thursday, with investors shying away from risk ahead of key central bank meetings next week and due to political uncertainty in the Middle East.&nbsp;Market players expect the mood to be cautious in the run-up to next Thursday when both the U.S. Federal Reserve and the European Central Bank are expected to hold policy meetings.&nbsp;

A Reuters poll showed a rate rise was almost certain at the Fed&#39;s Dec. 14 meeting, with three or more rate hikes expected next year. Expectations for a more vigorous rate cycle in 2018 got wind from progress in President Donald Trump`s tax cut plans.&nbsp;On the other hand, the ECB is expected to stand pat on policy at its meeting next week in Frankfurt.

Elsewhere, Trump on Wednesday reversed decades of U.S. policy and recognised Jerusalem as the capital of Israel, imperilling Middle East peace efforts and upsetting the Arab world and Western allies alike.&nbsp;The dollar on Thursday shook off losses against the yen, buoyed by optimism on U.S. tax reform and ahead of payrolls data on Friday.&nbsp;Meanwhile, a potential U.S. government shutdown looms if Congress fails to agree on a spending package.

&quot;The debt ceiling limit is another source of worry as emergency measures are only likely to last for 2/3 months before the Treasury runs out of funds,&quot; DBS Group strategists Eugene Leow and Philip Wee said in a note.&nbsp;&quot;Politics is likely to dominate macro cues at a time when valuations for risky assets appear lofty. Brace for volatility ahead.&quot;&nbsp;All local currencies in Asia were subdued, with the Malaysian ringgit the weakest among its peers against the dollar, easing 0.2 percent.

&quot;There&#39;s still quite a lot of equity outflow happening,&quot; said Andy Ji, a strategist for Commonwealth Bank of Australia in Singapore.&nbsp;&quot;The ringgit is still outperforming though&quot;. The Malaysian currency has been on an uptrend since early November, helped by a strong economy and rate rise expectations.

The South Korean won, the region`s biggest decliner in the previous session, was 0.16 percent firmer against the dollar, despite a 0.8-percent fall in the Kospi index.&nbsp;Ji said the won could be trading on the notion of &quot;a very hawkish central bank at this point in time despite a dovish rate rise&quot;.

Last month, the Bank of Korea raised its benchmark rate by 25 basis points to 1.5 percent from a record low level.

Indian Rupee

The rupee firmed marginally on Thursday after the Reserve Bank of India (RBI) kept rates unchanged in its policy meeting the day before, as expected, and left its policy stance &quot;neutral&quot;.&nbsp;The central bank was also seen as slightly softening its language on inflation by saying risks were &quot;evenly balanced&quot;.&nbsp;

The RBI raised its headline inflation projection in the range of 4.3 to 4.7 percent for the second half of 2018, compared with 4.2 to 4.6 percent earlier.&nbsp;&quot;Further upside to inflation and growth will nudge the RBI to turn hawkish, the likelihood of which is steadily rising,&quot; said DBS Group economist Radhika Rao.&nbsp;

With investors shying away from the risks due to anticipated central bank meetings next week, most of the Asian currencies drifted on Thursday.

Most Asian currencies drifted on Thursday, with investors shying away from risk ahead of key central bank meetings next week and due to political uncertainty in the Middle East. Market players expect the mood to be cautious in the run-up to next Thursday when both the U.S. Federal Reserve and the European Central Bank are expected to hold policy meetings. A Reuters poll showed a rate rise was almost certain at the Fed's Dec. 14 meeting, with three or more rate hikes expected next year. Expectations for a more vigorous rate cycle in 2018 got wind from progress in President Donald Trump`s tax cut plans. On the other hand, the ECB is expected to stand pat on policy at its meeting next week in Frankfurt. Elsewhere, Trump on Wednesday reversed decades of U.S. policy and recognised Jerusalem as the capital of Israel, imperilling Middle East peace efforts and upsetting the Arab world and Western allies alike. The dollar on Thursday shook off losses against the yen, buoyed by optimism on U.S. tax reform and ahead of payrolls data on Friday. Meanwhile, a potential U.S. government shutdown looms if Congress fails to agree on a spending package. "The debt ceiling limit is another source of worry as emergency measures are only likely to last for 2/3 months before the Treasury runs out of funds," DBS Group strategists Eugene Leow and Philip Wee said in a note. "Politics is likely to dominate macro cues at a time when valuations for risky assets appear lofty. Brace for volatility ahead." All local currencies in Asia were subdued, with the Malaysian ringgit the weakest among its peers against the dollar, easing 0.2 percent. "There's still quite a lot of equity outflow happening," said Andy Ji, a strategist for Commonwealth Bank of Australia in Singapore. "The ringgit is still outperforming though". The Malaysian currency has been on an uptrend since early November, helped by a strong economy and rate rise expectations. The South Korean won, the region`s biggest decliner in the previous session, was 0.16 percent firmer against the dollar, despite a 0.8-percent fall in the Kospi index. Ji said the won could be trading on the notion of "a very hawkish central bank at this point in time despite a dovish rate rise". Last month, the Bank of Korea raised its benchmark rate by 25 basis points to 1.5 percent from a record low level. Indian Rupee The rupee firmed marginally on Thursday after the Reserve Bank of India (RBI) kept rates unchanged in its policy meeting the day before, as expected, and left its policy stance "neutral". The central bank was also seen as slightly softening its language on inflation by saying risks were "evenly balanced". The RBI raised its headline inflation projection in the range of 4.3 to 4.7 percent for the second half of 2018, compared with 4.2 to 4.6 percent earlier. "Further upside to inflation and growth will nudge the RBI to turn hawkish, the likelihood of which is steadily rising," said DBS Group economist Radhika Rao.

Asian currencies drift as investors shy away from risk

Bitcoin charged <a href="http://www.wionews.com/business-economy/rbi-warns-users-against-the-risks-of-virtual-currencies-like-bitcoin-25981">past $14,000, touching a high of $14,485</a> but slipped back to $14,485 in Asian trade.

The virtual currency has risen exponentially this year from $752 in January to a present high of $14,485, the surge has surprised experts and economists alike.

However, the bitcoin have no central bank backing. On Tuesday, the Reserve Bank of India(RBI) had warned about risks involved in trading in Bitcoin.

The currency which lacks backing from any financial institution, governments across the world are looking at the surge in prices of bitcoin very closely as it surges &quot;like a charging train with no brakes&quot;.

According to a Reuters report, &quot;more than 980,000 bitcoins have been stolen from exchanges, either by hackers or insiders. That&#39;s a total of more than $10 billion at current exchange rates. Few have been recovered.&quot;

Regulators in the US, Germany, Malaysia and Dubai have warned against using bitcoins.

China and South Korea have banned digital coin sales.

Regulators in the US, Germany, Malaysia and Dubai have warned against using bitcoins

Bitcoin charged past $14,000, touching a high of $14,485 but slipped back to $14,485 in Asian trade. The virtual currency has risen exponentially this year from $752 in January to a present high of $14,485, the surge has surprised experts and economists alike. However, the bitcoin have no central bank backing. On Tuesday, the Reserve Bank of India(RBI) had warned about risks involved in trading in Bitcoin. The currency which lacks backing from any financial institution, governments across the world are looking at the surge in prices of bitcoin very closely as it surges "like a charging train with no brakes". According to a Reuters report, "more than 980,000 bitcoins have been stolen from exchanges, either by hackers or insiders. That's a total of more than $10 billion at current exchange rates. Few have been recovered." Regulators in the US, Germany, Malaysia and Dubai have warned against using bitcoins. China and South Korea have banned digital coin sales.

Bitcoin surge past $14,485 in Asian trade

<a href="http://www.wionews.com/business-economy/bitcoin-surge-past-14485-in-asian-trade-26123" target="_blank">Bitcoin surge</a> hit another milestone when it rocketed above $15,000 for the first time on Thursday.

In under 12 hours, the cryptocurrency&nbsp;recorded more than&nbsp;$2,000 in its price to see more than a fifteenfold surge in its value since the start of the year.

Bitcoin&#39;s value soared to $15,344 on the Luxembourg-based Bitstamp exchange around 1420 GMT when it had traded just above $13,000 12 hours earlier.

The surge accounted for a 12% hike in its value recorded on a day. The value of all cryptocurrencies now stands at around $415 billion, according to Coinmarketcap.&nbsp;

&quot;Futures trading will mean more demand...and is a form of ratification of the underlying tech - bitcoin and cryptocurrencies in general. They are now on the main stage,&quot; said Charles Hayter, founder of cryptocurrency data analysis firm Cryptocompare.

The ongoing surge of Bitcoin is now been attributed to the launch of bitcoin futures by CBOE, one of the world`s biggest derivatives exchanges.

Market-watchers and experts believe it to give a helping hand in driving up the price on expectations it would draw more investors to the market.&nbsp;

&quot;Aggressive traders, such as hedge funds and algorithm-driven funds, (will be able) to use this futures market to enter bitcoin trading with high levels of liquidity for aggressive short-selling and knock the prices really low,&quot; said Think Markets analyst Naeem Aslam.

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Bitcoin has more than tripled in price since the start of October, putting it on track for its best quarter since the end of 2013, when it surged above $1,000 for the first time. It slumped in 2014, after Mt Gox, then the world&#39;s biggest bitcoin exchange, collapsed, saying it had been hacked and had 650,000 bitcoins stolen.&nbsp;

But some are warning that the launch of bitcoin futures, which will allow investors to take speculative &quot;short&quot; positions on the cryptocurrency, as well as &quot;long&quot; positions, could cause even greater volatility.&nbsp;

The latest surge brought bitcoin`s &quot;market cap&quot; - its price multiplied by the total number of bitcoins in circulation - to more than $260 billion, according to Coinmarketcap, a trade website.

That, in theory, makes its market value higher than that of Visa.

In India, the <a href="http://www.wionews.com/business-economy/rbi-warns-users-against-the-risks-of-virtual-currencies-like-bitcoin-25981" target="_blank">Reserve Bank of India</a>, on Tuesday, warned investors against the <a href="http://www.wionews.com/india-news/bubble-or-not-bitcoin-triggering-terror-finance-and-fraud-25623" target="_blank">risks linked to Bitcoin</a>.

The RBI stated rapid growth in Initial Coin Offerings (ICOs) as a cause for concern which also makes virtual currencies highly volatile and risk-involving tools of investment.

The ongoing surge of Bitcoin is now been attributed to the launch of bitcoin futures by CBOE

Bitcoin surge hit another milestone when it rocketed above $15,000 for the first time on Thursday. In under 12 hours, the cryptocurrency recorded more than $2,000 in its price to see more than a fifteenfold surge in its value since the start of the year. Bitcoin's value soared to $15,344 on the Luxembourg-based Bitstamp exchange around 1420 GMT when it had traded just above $13,000 12 hours earlier. The surge accounted for a 12% hike in its value recorded on a day. The value of all cryptocurrencies now stands at around $415 billion, according to Coinmarketcap. "Futures trading will mean more demand...and is a form of ratification of the underlying tech - bitcoin and cryptocurrencies in general. They are now on the main stage," said Charles Hayter, founder of cryptocurrency data analysis firm Cryptocompare. The ongoing surge of Bitcoin is now been attributed to the launch of bitcoin futures by CBOE, one of the world`s biggest derivatives exchanges. Market-watchers and experts believe it to give a helping hand in driving up the price on expectations it would draw more investors to the market. "Aggressive traders, such as hedge funds and algorithm-driven funds, (will be able) to use this futures market to enter bitcoin trading with high levels of liquidity for aggressive short-selling and knock the prices really low," said Think Markets analyst Naeem Aslam. With crypto-currencies on the rise around the world, there are concerns being raised about the technology being used by terrorists and criminals to evade digital tracking. WION's Archit Sinha brings you this report. (WION) × Bitcoin has more than tripled in price since the start of October, putting it on track for its best quarter since the end of 2013, when it surged above $1,000 for the first time. It slumped in 2014, after Mt Gox, then the world's biggest bitcoin exchange, collapsed, saying it had been hacked and had 650,000 bitcoins stolen. But some are warning that the launch of bitcoin futures, which will allow investors to take speculative "short" positions on the cryptocurrency, as well as "long" positions, could cause even greater volatility. The latest surge brought bitcoin`s "market cap" - its price multiplied by the total number of bitcoins in circulation - to more than $260 billion, according to Coinmarketcap, a trade website. That, in theory, makes its market value higher than that of Visa. In India, the Reserve Bank of India, on Tuesday, warned investors against the risks linked to Bitcoin. The RBI stated rapid growth in Initial Coin Offerings (ICOs) as a cause for concern which also makes virtual currencies highly volatile and risk-involving tools of investment.

Bitcoin soars beyond $15,000, climbs $2,000 in under 12 hours

As the year-end draws closer, Apple has revealed a list summing up best apps and top games of the year. &#39;Enlight Videoleap&#39; was rated as the best app. &lsquo;Affinity Photo&rsquo; was the best app of the year on iPad. The list of top apps for 2017 includes WhatsApp, YouTube, Facebook, PayTm, Messenger, SHAREit, Instagram, Google Maps, Uber, Hotstar, Amazon, Ola cabs, Gmail, Wynk, MyJio, My Airtel, Google Chrome, Flipkart, Snapchat and imo video calls and chat. Aurora HDR 2018 emerged as the best app of the year for Mac. Calm featured as the best app of the year on iPhone in Australia, Ireland, New Zealand, USA and the United Kingdom.&nbsp;

For die-heart gamers, the list also revealed the top game of the year, Splitter Clitters topped the list in most countries. The Witness featured as the best game on iPad in a host of countries. The world of apps and gaming saw a significant boost this year. Augmented Reality was one of the top features across some of the most noticeable applications and games this year. Besides this, real-time competitive gaming also garnered much popularity in 2017.&nbsp;

Not only this, Apple also revealed the most popular movies, music across Apple Music, iTunes and iStore for the year. &quot;Our App Store editors have chosen the most download-worthy games and apps based on topics and trends that were popular on the App Store throughout the year,&quot; noted the official release.&nbsp;

It must be noted that the list varies from country to country.&nbsp;

Apple also revealed the most popular movies, music across Apple Music, iTunes and iStore for the year

As the year-end draws closer, Apple has revealed a list summing up best apps and top games of the year. 'Enlight Videoleap' was rated as the best app. ‘Affinity Photo’ was the best app of the year on iPad. The list of top apps for 2017 includes WhatsApp, YouTube, Facebook, PayTm, Messenger, SHAREit, Instagram, Google Maps, Uber, Hotstar, Amazon, Ola cabs, Gmail, Wynk, MyJio, My Airtel, Google Chrome, Flipkart, Snapchat and imo video calls and chat. Aurora HDR 2018 emerged as the best app of the year for Mac. Calm featured as the best app of the year on iPhone in Australia, Ireland, New Zealand, USA and the United Kingdom. For die-heart gamers, the list also revealed the top game of the year, Splitter Clitters topped the list in most countries. The Witness featured as the best game on iPad in a host of countries. The world of apps and gaming saw a significant boost this year. Augmented Reality was one of the top features across some of the most noticeable applications and games this year. Besides this, real-time competitive gaming also garnered much popularity in 2017. Not only this, Apple also revealed the most popular movies, music across Apple Music, iTunes and iStore for the year. "Our App Store editors have chosen the most download-worthy games and apps based on topics and trends that were popular on the App Store throughout the year," noted the official release. It must be noted that the list varies from country to country.

Best of 2017: Apple reveals top games and apps of the year

Bringing an end to the patient wait for the launch of Apache RR 310 in India, TVS motors on Wednesday launched its flagship motorcycle at an ex-showroom price of Rs 2.05 lakh.

With the engine being mated to a six-speed gearbox, the latest model of Apache is powered by a 312.2cc, single-cylinder, DOHC motor that makes 34hp at 9,700rpm and 27.3Nm at 7,700rpm.

The fully faired motorcycle flaunts nose down-tail up design which further enhances its sporty appeal.&nbsp;The bike is equipped with first-in-class Bi-LED projector headlamps and LED DRLs, while the rear boasts of the devil&#39;s horn-shaped LED taillights.

Expected to be available in two colour options - red and black, the motorcycle is capable of achieving 60kmph from a standstill position in just 2.63 seconds.&nbsp;

The bookings of the bike will commence soon while the deliveries are expected to start from this December end.&nbsp;

With the engine being mated to a six-speed gearbox, the latest model of Apache is powered by a 312.2cc, single-cylinder, DOHC motor that makes 34hp at 9,700rpm and 27.3Nm at 7,700rpm.

Bringing an end to the patient wait for the launch of Apache RR 310 in India, TVS motors on Wednesday launched its flagship motorcycle at an ex-showroom price of Rs 2.05 lakh. With the engine being mated to a six-speed gearbox, the latest model of Apache is powered by a 312.2cc, single-cylinder, DOHC motor that makes 34hp at 9,700rpm and 27.3Nm at 7,700rpm. The fully faired motorcycle flaunts nose down-tail up design which further enhances its sporty appeal. The bike is equipped with first-in-class Bi-LED projector headlamps and LED DRLs, while the rear boasts of the devil's horn-shaped LED taillights. Expected to be available in two colour options - red and black, the motorcycle is capable of achieving 60kmph from a standstill position in just 2.63 seconds. The bookings of the bike will commence soon while the deliveries are expected to start from this December end.

TVS Apache RR 310 wait ends, launched at Rs 2.05 Lakh in India

The Reserve Bank of India(RBI) today kept the policy rate unchanged at six per cent, deciding to keep the rate &#39;neutral&#39;.

The RBI also kept the reverse repo rate unchanged at 5.75 per cent.

Experts had predicted the RBI would keep the rates unchanged due to high inflation and a strong economic growth which did not require monetary stimulus.

The rate is lowest since November 2010, reports said a five-member committee voted to keep it unchanged with one member voting against it.

The Sensex had slipped during the day ahead of the repo rate announcement as the market expected the Reserve Bank to keep rates at neutral.

The Finance ministry had announced recently India&#39;s growth in the second quarter had risen 6.3 percent in July-Sept period signaling an uptake in economic activity which was one of&nbsp;the reason for RBI to keep the policy rate at six per cent.

The RBI also kept the reverse repo rate unchanged at 5.75 per cent.

The Reserve Bank of India(RBI) today kept the policy rate unchanged at six per cent, deciding to keep the rate 'neutral'. The RBI also kept the reverse repo rate unchanged at 5.75 per cent. Experts had predicted the RBI would keep the rates unchanged due to high inflation and a strong economic growth which did not require monetary stimulus. The rate is lowest since November 2010, reports said a five-member committee voted to keep it unchanged with one member voting against it. The Sensex had slipped during the day ahead of the repo rate announcement as the market expected the Reserve Bank to keep rates at neutral. The Finance ministry had announced recently India's growth in the second quarter had risen 6.3 percent in July-Sept period signaling an uptake in economic activity which was one of the reason for RBI to keep the policy rate at six per cent.

RBI keeps repo rate unchanged at 6 per cent

The Reserve Bank on Tuesday warned the public against the risks of virtual currencies (VCs) after the recent spurt in the valuation of <a href="http://www.wionews.com/india-news/bubble-or-not-bitcoin-triggering-terror-finance-and-fraud-25623" target="_blank">Bitcoin</a>. Rapid growth in Initial Coin Offerings (ICOs) is a cause for concern, making VCs highly volatile and risk-involving tools of investment.

&quot;There is no underlying or backing of any asset for VCs. As such, their value seems to be a matter of speculation. Huge volatility in the value of VCs has been noticed in the recent past. Thus, the users are exposed to potential losses on account of such volatility in value,&quot; the central bank had said in a statement issued on December 24, 2013.&nbsp;

Simply put, Bitcoin is a cryptocurrency or currency in the digital form similar to Paytm or BHIM. A cryptocurrency is not issued by any bank, financial institution or a central authority. It isn&#39;t tangible and floats in and through digital wallets, making it an entity that is difficult to control, regulated or manipulated by international financial authorities, governments or institutions.&nbsp;

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With fin-tech on the rise around the world there is an increasing focus on cryptocurrencies, such as Bitcoin. But how do these currencies operate and how are they managed? (WION)
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The price of a single Bitcoin skyrocketed to up to US&nbsp;$11,000 last week in a rally which puzzled watchers. The apex bank had previously noted having studied the sector but emphatically clarified that it is uncomfortable with &quot;non-fiat&quot; cryptocurrencies. The RBI had also said that the exchange platforms on which Bitcoins are traded are set up in various jurisdictions whose legal status is also unclear.

&quot;The creation, trading or usage of VCs including Bitcoins, as a medium for payment are not authorised by any central bank or monetary authority. No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities,&quot; the RBI had said in its first comments in September 2013.

Reportedly, the ministry of finance has been mulling over launching a cryptocurrency called &quot;Lakshmi&quot; and has set up a committee for the same.

(With inputs from PTI)

Bitcoin is a cryptocurrency or currency in the digital form similar to Paytm or BHIM

The Reserve Bank on Tuesday warned the public against the risks of virtual currencies (VCs) after the recent spurt in the valuation of Bitcoin. Rapid growth in Initial Coin Offerings (ICOs) is a cause for concern, making VCs highly volatile and risk-involving tools of investment. "There is no underlying or backing of any asset for VCs. As such, their value seems to be a matter of speculation. Huge volatility in the value of VCs has been noticed in the recent past. Thus, the users are exposed to potential losses on account of such volatility in value," the central bank had said in a statement issued on December 24, 2013. Simply put, Bitcoin is a cryptocurrency or currency in the digital form similar to Paytm or BHIM. A cryptocurrency is not issued by any bank, financial institution or a central authority. It isn't tangible and floats in and through digital wallets, making it an entity that is difficult to control, regulated or manipulated by international financial authorities, governments or institutions. With fin-tech on the rise around the world there is an increasing focus on cryptocurrencies, such as Bitcoin. But how do these currencies operate and how are they managed? (WION) × The price of a single Bitcoin skyrocketed to up to US $11,000 last week in a rally which puzzled watchers. The apex bank had previously noted having studied the sector but emphatically clarified that it is uncomfortable with "non-fiat" cryptocurrencies. The RBI had also said that the exchange platforms on which Bitcoins are traded are set up in various jurisdictions whose legal status is also unclear. "The creation, trading or usage of VCs including Bitcoins, as a medium for payment are not authorised by any central bank or monetary authority. No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities," the RBI had said in its first comments in September 2013. Reportedly, the ministry of finance has been mulling over launching a cryptocurrency called "Lakshmi" and has set up a committee for the same. (With inputs from PTI)

RBI warns users against the risks of virtual currencies like Bitcoin

The benchmark BSE Sensex fell further by 100 points in early trade today due to selling in interest-sensitive stocks ahead of RBI&#39;s policy announcement later in the day.

The rupee&#39;s weakness against the dollar too dampened the overall mood.

The 30-share index fell 100.07 points, or 0.30 per cent, to 32,702.37, with sectoral indices of banking, auto, metal and PSU trading dropping up to 1.76 per cent.

The gauge had lost 67.28 points in the previous session.

The NSE Nifty too shed 39.15 points, or 0.38 per cent, to settle at 10,079.10.

Brokers said sentiment remained somewhat subdued as investors kept their positions at a low ebb amid expectation that the central bank may keep rates unchanged.

Major losers were SBI, ICICI Bank, HDFC Bank, Axis Bank, HDFC Ltd, Maruti Suzuki, Bajaj Auto, Hero MotoCorp, Tata Steel, ITC Ltd and Wipro.

Among the Asian bourses, Hong Kong&#39;s Hang Seng was down 1.12 per cent while Japan&#39;s Nikkei shed 0.90 per cent. Shanghai Composite Index too fell 0.61 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.45 per cent lower yesterday.

The 30-share index fell 100.07 points, or 0.30 per cent, to 32,702.37

The benchmark BSE Sensex fell further by 100 points in early trade today due to selling in interest-sensitive stocks ahead of RBI's policy announcement later in the day. The rupee's weakness against the dollar too dampened the overall mood. The 30-share index fell 100.07 points, or 0.30 per cent, to 32,702.37, with sectoral indices of banking, auto, metal and PSU trading dropping up to 1.76 per cent. The gauge had lost 67.28 points in the previous session. The NSE Nifty too shed 39.15 points, or 0.38 per cent, to settle at 10,079.10. Brokers said sentiment remained somewhat subdued as investors kept their positions at a low ebb amid expectation that the central bank may keep rates unchanged. Major losers were SBI, ICICI Bank, HDFC Bank, Axis Bank, HDFC Ltd, Maruti Suzuki, Bajaj Auto, Hero MotoCorp, Tata Steel, ITC Ltd and Wipro. Among the Asian bourses, Hong Kong's Hang Seng was down 1.12 per cent while Japan's Nikkei shed 0.90 per cent. Shanghai Composite Index too fell 0.61 per cent in early trade today. The US Dow Jones Industrial Average ended 0.45 per cent lower yesterday.

Sensex down 100 points as RBI policy decision looms