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Uber is all set to launch the final phase of Unified Payments Interface (UPI) based facility allowing customers to use their unique IDs for ride payment.&nbsp;

The new payment option is&nbsp;in addition to the prevailing payment options that include debit/credit card, cash and paytm.&nbsp;

A report in The Economic Times stated that <a href="http://www.wionews.com/business-economy/investor-firm-sues-kalanick-to-force-him-off-board-18853">Uber </a>will be partnering with Axis Bank and HDFC for UPI-based payments.

The company has already integrated UPI in July for Android users.&nbsp;Describing it as the &#39;first step&#39;, Uber said UPI to be the &#39;future of Indian payments&#39;.

&nbsp;

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
Paying for Uber Rides is now just a click away! Check out how to use UPI <a href="https://twitter.com/hashtag/UberForBhim?src=hash">#UberForBhim</a> <a href="https://twitter.com/hashtag/DigitialIndia?src=hash">#DigitialIndia</a> <a href="https://twitter.com/hashtag/EasyPayments?src=hash">#EasyPayments</a> <a href="https://twitter.com/hashtag/UPI?src=hash">#UPI</a> <a href="https://twitter.com/hashtag/UberIndia?src=hash">#UberIndia</a> <a href="https://t.co/vFMwu5rKtJ">pic.twitter.com/vFMwu5rKtJ</a>
&mdash; Uber India (@Uber_India) <a href="https://twitter.com/Uber_India/status/900275722832330752">August 23, 2017</a></blockquote>
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<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

Various reports have also claimed that Uber may launch its own mobile wallet.

Uber&#39;s rival Ola had&nbsp;also integrated UPI to its platform in April providing its customers an option called &quot;Pay by UPI&quot;. Ola has also successfully launched its own mobile wallet, Ola Money, in November 2015. The digital wallet has emerged as a convenient payment method for a wide variety of use including peer to peer transfers.&nbsp;

A person familiar to the matter said, &ldquo;It cannot be denied that there is a substantial volume of transactions which takes place in cash mode on Uber platform in India. But Uber is going to revolutionise the digital payments experience soon&quot;.

UPI was launched in August 2016 with 21 banks, and is currently being offered by about 53 banks.

&nbsp;

A report in The Economic Times stated that Uber will be partnering with Axis Bank and HDFC for UPI based payments

Uber is all set to launch the final phase of Unified Payments Interface (UPI) based facility allowing customers to use their unique IDs for ride payment. The new payment option is in addition to the prevailing payment options that include debit/credit card, cash and paytm. A report in The Economic Times stated that Uber will be partnering with Axis Bank and HDFC for UPI-based payments. The company has already integrated UPI in July for Android users. Describing it as the 'first step', Uber said UPI to be the 'future of Indian payments'. Paying for Uber Rides is now just a click away! Check out how to use UPI #UberForBhim #DigitialIndia #EasyPayments #UPI #UberIndia pic.twitter.com/vFMwu5rKtJ — Uber India (@Uber_India) August 23, 2017 × Various reports have also claimed that Uber may launch its own mobile wallet. Uber's rival Ola had also integrated UPI to its platform in April providing its customers an option called "Pay by UPI". Ola has also successfully launched its own mobile wallet, Ola Money, in November 2015. The digital wallet has emerged as a convenient payment method for a wide variety of use including peer to peer transfers. A person familiar to the matter said, “It cannot be denied that there is a substantial volume of transactions which takes place in cash mode on Uber platform in India. But Uber is going to revolutionise the digital payments experience soon". UPI was launched in August 2016 with 21 banks, and is currently being offered by about 53 banks.

Uber expands payment mode with UPI based facility in India

Oil prices fell on Wednesday, weighed down by concerns about rising production from Libya feeding into an oversupplied market and a surprise increase in U.S. gasoline inventories.

Benchmark Brent crude futures were down 27 cents at $51.60 a barrel at 0950 GMT.

U.S. West Texas Intermediate crude futures were trading at $47.67, down 16 cents.

Production from Libya&#39;s Sharara oilfield, the conflict-riven country&#39;s largest, has been seesawing. The field remained shut on Wednesday, two Libyan oil sources told Reuters. The field had restarted at least once on Tuesday amid conflicting reports about whether it had reopened.

&quot;(The) flood of news reports makes it clear that the situation in Libya is still chaotic and that conditions in the country are still far from normal,&quot; Commerzbank analysts wrote.

Sharara recently reached output of 280,000 barrels per day (bpd), but closed this week due to a pipeline blockade. Its production is key to Libya&#39;s oil output, which surged above 1 million bpd in late June, about four times its level last summer.

Libya&#39;s rising output is a headache for the Organization of the Petroleum Exporting Countries, which together with non-OPEC producers including Russia has pledged to cut around 1.8 million bpd of supplies between January this year and March 2018 in an attempt to remove a global glut.

Additionally, industry data released by the American Petroleum Institute showed on Tuesday that U.S. gasoline stocks rose by 1.4 million barrels in the week to Aug. 18, compared with analysts&#39; expectations of a 3.5-million-barrel drop. [API/S]

Jeffrey Halley, senior market analyst at futures brokerage OANDA, said rising U.S. gasoline inventories were &quot;not a good sign during the U.S. summer driving season&quot;.

Official inventory data from the U.S. Energy Information Administration is due later on Wednesday.

Production from Libya's Sharara oilfield, the conflict-riven country's largest, has been seesawing. The field remained shut on Wednesday

Oil prices fell on Wednesday, weighed down by concerns about rising production from Libya feeding into an oversupplied market and a surprise increase in U.S. gasoline inventories. Benchmark Brent crude futures were down 27 cents at $51.60 a barrel at 0950 GMT. U.S. West Texas Intermediate crude futures were trading at $47.67, down 16 cents. Production from Libya's Sharara oilfield, the conflict-riven country's largest, has been seesawing. The field remained shut on Wednesday, two Libyan oil sources told Reuters. The field had restarted at least once on Tuesday amid conflicting reports about whether it had reopened. "(The) flood of news reports makes it clear that the situation in Libya is still chaotic and that conditions in the country are still far from normal," Commerzbank analysts wrote. Sharara recently reached output of 280,000 barrels per day (bpd), but closed this week due to a pipeline blockade. Its production is key to Libya's oil output, which surged above 1 million bpd in late June, about four times its level last summer. Libya's rising output is a headache for the Organization of the Petroleum Exporting Countries, which together with non-OPEC producers including Russia has pledged to cut around 1.8 million bpd of supplies between January this year and March 2018 in an attempt to remove a global glut. Additionally, industry data released by the American Petroleum Institute showed on Tuesday that U.S. gasoline stocks rose by 1.4 million barrels in the week to Aug. 18, compared with analysts' expectations of a 3.5-million-barrel drop. [API/S] Jeffrey Halley, senior market analyst at futures brokerage OANDA, said rising U.S. gasoline inventories were "not a good sign during the U.S. summer driving season". Official inventory data from the U.S. Energy Information Administration is due later on Wednesday.

Increase in production from Libya, Oil prices fell on Wednesday

Researchers who warned half a dozen&nbsp;robot&nbsp;manufacturers in January about nearly 50 vulnerabilities in their home, business and industrial&nbsp;robots, say only a few of the problems have been addressed.

The researchers, Cesar Cerrudo and Lucas Apa of cybersecurity firm IOActive, said the vulnerabilities would allow hackers to spy on users, disable safety features and make&nbsp;robots lurch and move violently, putting users and bystanders in danger.

While they say there are no signs that hackers have exploited the vulnerabilities, they say the fact that the&nbsp;robots were hacked so easily and the manufacturers&#39; lack of response raise questions about allowing&nbsp;robots in homes, offices and factories.

&quot;Our research shows proof that even non-military&nbsp;robots could be weaponized to cause harm,&quot; Apa said in an interview.

&quot;These&nbsp;robots don&#39;t use bullets or explosives, but microphones, cameras, arms and legs. The difference is that they will be soon around us and we need to secure them now before it&#39;s too late.&quot;

Some of the&nbsp;robot&nbsp;manufacturers defended themselves, saying they had fixed some or all of the issues raised.

Apa&#39;s comments come in the wake of a letter signed by more than 100 leading&nbsp;robotic experts urging the United Nations to ban the development of killer military&nbsp;robots, or autonomous weapons.

Apa, a senior security consultant, said that of the six manufacturers contacted, only one, RethinkRobotics, said some of the problems had been fixed. He said he had not been able to confirm that as his team does not have access to that particular&nbsp;robot.

A spokesman for Rethink&nbsp;Robotics, which makes the Baxter and Sawyer assembly-line&nbsp;robots, said all but two issues - in the education and research versions of its&nbsp;robots - had been fixed.

Apa said a review of updates from the other five manufacturers - Universal&nbsp;Robots of Denmark, SoftBank&nbsp;Robotics and Asratec Corp of Japan, Ubtech of China, and&nbsp;Robotis Inc of South Korea - led him to believe none of the issues he had raised had been fixed.

Asratec said that software released for its&nbsp;robots so far was limited to &quot;hobby use sample programs&quot;, and it believed IOActive was pointing to security vulnerabilities in those. Software it planned to release for commercial use would be different, it said.

SoftBank&nbsp;Robotics said it had already identified the vulnerabilities and fixed them. Ubtech said it had &quot;fully addressed any concerns raised by IoActive that do not limit our developers from programming&quot; their&nbsp;robots.

Universal&nbsp;Robots did not respond to emailed requests for comment.&nbsp;Robotis Inc declined to comment.

The slow reaction by the&nbsp;robot&nbsp;industry was not surprising, said Joshua Ziering, founder of Kittyhawk.io, a commercial drone software company. &quot;A new technology bursts on to the market and people fail to secure it,&quot; he said.

Cybersecurity experts said the&nbsp;robot&nbsp;vulnerabilities were alarming, and cyber criminals could use them to disrupt factories by ransomware attacks, or with&nbsp;robots slowed down or forced to embed flaws in the products they are programmed to build.

&quot;The potential impact to companies, and even countries, could be massive,&quot; said Nathan Wenzler, chief security strategist at AsTech, a San Francisco-based security consulting company, &quot;should an attacker exploit the vulnerability within the applications that control these&nbsp;robots.&quot;

Even in the home, danger lurks, said Apa, demonstrating how a 17-inch (43.18 cm) tall Alpha 2robot&nbsp;from Ubtech could be programmed to violently jab a screwdriver.

&quot;Maybe it&#39;s small and it&#39;s not really going to hurt right now, but the trend is that the&nbsp;robots are going to be more powerful,&quot; he said. &quot;We tested industrial ones which are really heavy and powerful, and some of the attacks work with them.&quot;

Apa and Cerrudo released their initial findings in January.

This week, they released details about the specific vulnerabilities they found, including one case where they mix several of those vulnerabilities together to hijack a Universal&nbsp;Robot&nbsp;factory&nbsp;robot, making it lurch about and be a potential threat.

"Our research shows proof that even non-military robots could be weaponized to cause harm," Lucas Apa said in an interview

Researchers who warned half a dozen robot manufacturers in January about nearly 50 vulnerabilities in their home, business and industrial robots, say only a few of the problems have been addressed. The researchers, Cesar Cerrudo and Lucas Apa of cybersecurity firm IOActive, said the vulnerabilities would allow hackers to spy on users, disable safety features and make robots lurch and move violently, putting users and bystanders in danger. While they say there are no signs that hackers have exploited the vulnerabilities, they say the fact that the robots were hacked so easily and the manufacturers' lack of response raise questions about allowing robots in homes, offices and factories. "Our research shows proof that even non-military robots could be weaponized to cause harm," Apa said in an interview. "These robots don't use bullets or explosives, but microphones, cameras, arms and legs. The difference is that they will be soon around us and we need to secure them now before it's too late." Some of the robot manufacturers defended themselves, saying they had fixed some or all of the issues raised. Apa's comments come in the wake of a letter signed by more than 100 leading robotic experts urging the United Nations to ban the development of killer military robots, or autonomous weapons. Apa, a senior security consultant, said that of the six manufacturers contacted, only one, RethinkRobotics, said some of the problems had been fixed. He said he had not been able to confirm that as his team does not have access to that particular robot. A spokesman for Rethink Robotics, which makes the Baxter and Sawyer assembly-line robots, said all but two issues - in the education and research versions of its robots - had been fixed. Apa said a review of updates from the other five manufacturers - Universal Robots of Denmark, SoftBank Robotics and Asratec Corp of Japan, Ubtech of China, and Robotis Inc of South Korea - led him to believe none of the issues he had raised had been fixed. Asratec said that software released for its robots so far was limited to "hobby use sample programs", and it believed IOActive was pointing to security vulnerabilities in those. Software it planned to release for commercial use would be different, it said. SoftBank Robotics said it had already identified the vulnerabilities and fixed them. Ubtech said it had "fully addressed any concerns raised by IoActive that do not limit our developers from programming" their robots. Universal Robots did not respond to emailed requests for comment. Robotis Inc declined to comment. The slow reaction by the robot industry was not surprising, said Joshua Ziering, founder of Kittyhawk.io, a commercial drone software company. "A new technology bursts on to the market and people fail to secure it," he said. Cybersecurity experts said the robot vulnerabilities were alarming, and cyber criminals could use them to disrupt factories by ransomware attacks, or with robots slowed down or forced to embed flaws in the products they are programmed to build. "The potential impact to companies, and even countries, could be massive," said Nathan Wenzler, chief security strategist at AsTech, a San Francisco-based security consulting company, "should an attacker exploit the vulnerability within the applications that control these robots." Even in the home, danger lurks, said Apa, demonstrating how a 17-inch (43.18 cm) tall Alpha 2robot from Ubtech could be programmed to violently jab a screwdriver. "Maybe it's small and it's not really going to hurt right now, but the trend is that the robots are going to be more powerful," he said. "We tested industrial ones which are really heavy and powerful, and some of the attacks work with them." Apa and Cerrudo released their initial findings in January. This week, they released details about the specific vulnerabilities they found, including one case where they mix several of those vulnerabilities together to hijack a Universal Robot factory robot, making it lurch about and be a potential threat.

Robots in homes, offices can be hacked: Study

After the infamous reports of self-combusting batteries of Samsung Note 7 leading to several handset explosion, Samsung is all set to launch its successor, Galaxy Note 8.&nbsp;

The handset, launched in New York will enter the markets on 15 september.&nbsp;

Samsung 8 Note pre-orders will be available with either a free 256GB microSD card and wireless charger or a 360-degree camera.&nbsp;

The phone is expected to come within the range $1000.

The official teasers of the new launch show a phone with a powerful camera and a stylus called S Pen under the tag line &quot;do bigger things&quot;.

The new launch measuring 162.5mmx74.6mmx8.5mm will have 6.3in 3840x2160 Super AMOLED curved Infinity Display with 18.5:9 ratio. The screen will be embedded with fingerprint scanner.&nbsp;

The phone will have 12MP dual rear-facing&nbsp;camera with 8MP front-facing camera.&nbsp;

With Snapdragon 835 in the US and Android 7.0 Nougat ,64GB build-in storage the memory can be expanded with microSD.&nbsp;

The 3,000mAh battery phone is designed with the wireless charging support and fast charging.

The handset will be released in Midnight Black, Maple Gold, Orchid Grey and Deep Sea Blue colour.&nbsp;

&nbsp;

The phone is expected to come within the range $1000

After the infamous reports of self-combusting batteries of Samsung Note 7 leading to several handset explosion, Samsung is all set to launch its successor, Galaxy Note 8. The handset, launched in New York will enter the markets on 15 september. Samsung 8 Note pre-orders will be available with either a free 256GB microSD card and wireless charger or a 360-degree camera. The phone is expected to come within the range $1000. The official teasers of the new launch show a phone with a powerful camera and a stylus called S Pen under the tag line "do bigger things". The new launch measuring 162.5mmx74.6mmx8.5mm will have 6.3in 3840x2160 Super AMOLED curved Infinity Display with 18.5:9 ratio. The screen will be embedded with fingerprint scanner. The phone will have 12MP dual rear-facing camera with 8MP front-facing camera. With Snapdragon 835 in the US and Android 7.0 Nougat ,64GB build-in storage the memory can be expanded with microSD. The 3,000mAh battery phone is designed with the wireless charging support and fast charging. The handset will be released in Midnight Black, Maple Gold, Orchid Grey and Deep Sea Blue colour.

Samsung to launch Galaxy Note 8

The Gupta family agreed to sell their South African mining unit for $225 million on Wednesday, the second disposal this week from the company&#39;s portfolio of investments which have been caught up in an influence-peddling scandal.

The sale by the Gupta&#39;s Oakbay vehicle is part of plans announced a year ago to sell all their businesses in South Africa, after companies including the country&#39;s four largest banks severed links with Oakbay, citing reputational risks.

The Gupta family, business friends of President Jacob Zuma, are accused of using their links with the 75-year old leader to wield undue influence and win lucrative state contracts. Both Zuma and the family deny any wrongdoing.

Oakbay said it would sell Tegeta Exploration and Resources, whose mines supply coal to South African state-owned power utility Eskom, for 2.97 billion rands ($225 million) to a Swiss-based company called Charles King SA.

The sale is the second this week by Oakbay, which said on Monday it had agreed to sell its stakes in the New Age newspaper and the ANN7 television news channel to Zuma ally and former government spokesman Mzwanele Manyi.

Oakbay has been searching for a banking partner after Indian-based Bank of Baroda said it would also cut links with the Guptas at the end of this month.

The Guptas, who are in business with Zuma&#39;s son Duduzane, have said stepping aside as owners would help the company restore banking relations and preserve jobs.

Charles King is a little-known Lausanne-based company listed by Switzerland&#39;s company register Moneyhouse as involved in trading in clothes and shoes. Oakbay said it had been acquired by Amin Al Zarooni, who it said was a leading businessman in the United Arab Emirates, as a special purpose vehicle for investments such as Tegeta.

&quot;Mining is an excellent growth sector on the continent and with this acquisition, our expansion plans on the African continent kick start,&quot; Oakbay quoted Al Zarooni as saying.

To underscore his credentials, Oakbay also set out a list of what it said were his global commodity businesses and said he was an active participant in global private equity markets.

The deal with Charles King has the support of mines minister Mosebenzi Zwane. &quot;The Department welcomes the undertaking to save employees&#39; jobs in Tegeta&#39;s various operations,&quot; his office said in a statement.

The three Gupta brothers moved to South Africa from India at the end of apartheid rule in the mid-1990s and went on to build a business empire stretching from technology to mining.

They are now embroiled in a scandal which has drawn in several international companies, including Germany&#39;s SAP, and deepened a divide in the ruling African National Congress, with some senior members calling for Zuma to resign.

The sale by the Gupta's Oakbay vehicle is part of plans announced a year ago to sell all their businesses in South Africa,

The Gupta family agreed to sell their South African mining unit for $225 million on Wednesday, the second disposal this week from the company's portfolio of investments which have been caught up in an influence-peddling scandal. The sale by the Gupta's Oakbay vehicle is part of plans announced a year ago to sell all their businesses in South Africa, after companies including the country's four largest banks severed links with Oakbay, citing reputational risks. The Gupta family, business friends of President Jacob Zuma, are accused of using their links with the 75-year old leader to wield undue influence and win lucrative state contracts. Both Zuma and the family deny any wrongdoing. Oakbay said it would sell Tegeta Exploration and Resources, whose mines supply coal to South African state-owned power utility Eskom, for 2.97 billion rands ($225 million) to a Swiss-based company called Charles King SA. The sale is the second this week by Oakbay, which said on Monday it had agreed to sell its stakes in the New Age newspaper and the ANN7 television news channel to Zuma ally and former government spokesman Mzwanele Manyi. Oakbay has been searching for a banking partner after Indian-based Bank of Baroda said it would also cut links with the Guptas at the end of this month. The Guptas, who are in business with Zuma's son Duduzane, have said stepping aside as owners would help the company restore banking relations and preserve jobs. Charles King is a little-known Lausanne-based company listed by Switzerland's company register Moneyhouse as involved in trading in clothes and shoes. Oakbay said it had been acquired by Amin Al Zarooni, who it said was a leading businessman in the United Arab Emirates, as a special purpose vehicle for investments such as Tegeta. "Mining is an excellent growth sector on the continent and with this acquisition, our expansion plans on the African continent kick start," Oakbay quoted Al Zarooni as saying. To underscore his credentials, Oakbay also set out a list of what it said were his global commodity businesses and said he was an active participant in global private equity markets. The deal with Charles King has the support of mines minister Mosebenzi Zwane. "The Department welcomes the undertaking to save employees' jobs in Tegeta's various operations," his office said in a statement. The three Gupta brothers moved to South Africa from India at the end of apartheid rule in the mid-1990s and went on to build a business empire stretching from technology to mining. They are now embroiled in a scandal which has drawn in several international companies, including Germany's SAP, and deepened a divide in the ruling African National Congress, with some senior members calling for Zuma to resign.

Gupta's agreed to sell their South African mining unit for $225 million

Most Asian markets edged higher Wednesday after a global equities rally driven by optimism over a US tax reform plan, but President Donald Trump&#39;s comments about terminating the North American Free Trade Agreement capped gains.

Markets have chalked up a comeback after struggling in recent weeks due to the continuing standoff between the US and North Korea, which has been compounded by Thursday&#39;s terror attack in Barcelona.

The US president&#39;s woes have fuelled speculation he will struggle to push through his market-friendly economy-boosting policies that fanned a global market rally in the months after his November election.

Despite ongoing chaos at the White House, markets have been heartened by reports suggesting that the Trump administration was making headway on a tax reform plan.

&quot;Some of the US political uncertainty may have been removed by a report on the Trump administration making progress on tax reform, but a wait-and-see mood is strong ahead of Jackson Hole and tensions in North Korea still in place,&quot; Tsutomu Nakamura, strategist at Ueda Harlow Corp. in Tokyo, said in a commentary, referring to a central bankers meeting on Friday.

The Japanese yen rose as investors pushed into safer investments after Trump said in a US speech that he may end NAFTA, and vowed to pressure Congress to fund a border wall with Mexico that was at the centre of his election campaign.

&quot;The NAFTA hot air may be as much an excuse to take a step back after Wall Street&#39;s surge yesterday, as it is a legitimate concern about the president not appreciating nuances of inter-dependence embedded in trade deals,&quot; Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore, told Bloomberg News.

The stronger yen pared some gains in Tokyo where the benchmark Nikkei 225 index ended 0.3 per cent higher, while Seoul and Taipei edged up 0.1 per cent and Singapore was flat.

But Shanghai ended 0.1 per cent lower and Sydney slipped 0.2 per cent.&nbsp;

Hong Kong&#39;s stock market was closed as powerful Typhoon Hato brought the southern Chinese city to a standstill.

Europe&#39;s main stock markets eased at the start of trading Wednesday, with London&#39;s benchmark FTSE 100 index down 0.2 per cent, while the Paris CAC 40 index dipped 0.1 per cent and Frankfurt&#39;s DAX 30 was flat.

All eyes are on the Jackson Hole symposium in Wyoming at the end of the week, which brings together the world&#39;s top central bank chiefs.

Much of the attention will be on Federal Reserve boss Janet Yellen, with hopes for some clues about the bank&#39;s plans to wind in its huge bond holdings. 
European Central Bank chief Mario Draghi&#39;s speech will also be closely watched as Frankfurt-based policymakers consider cutting back their own balance sheet.

&nbsp;Key figures around 0900 GMT&nbsp;

Tokyo - Nikkei 225: UP 0.3 per cent at 19,434.64 (close)

Hong Kong - Hang Seng: closed

Shanghai - Composite: DOWN 0.1 per cent at 3,287.71

London - FTSE 100: DOWN 0.2 per cent at 7,368.43

Euro/dollar: UP at $1.1786 from $1.1764&nbsp;

Pound/dollar: DOWN at $1.2799 from $1.2821

Dollar/yen: DOWN at 109.44 yen from 109.56 yen

Oil - West Texas Intermediate: UP 11 cents at $47.70 per barrel

Oil - Brent North Sea: DOWN 21 cents at $51.71 per barrel

Markets have chalked up a comeback after struggling in recent weeks due to the continuing standoff between the US and North Korea, which has been compounded by Thursday's terror attack in Barcelona

Most Asian markets edged higher Wednesday after a global equities rally driven by optimism over a US tax reform plan, but President Donald Trump's comments about terminating the North American Free Trade Agreement capped gains. Markets have chalked up a comeback after struggling in recent weeks due to the continuing standoff between the US and North Korea, which has been compounded by Thursday's terror attack in Barcelona. The US president's woes have fuelled speculation he will struggle to push through his market-friendly economy-boosting policies that fanned a global market rally in the months after his November election. Despite ongoing chaos at the White House, markets have been heartened by reports suggesting that the Trump administration was making headway on a tax reform plan. "Some of the US political uncertainty may have been removed by a report on the Trump administration making progress on tax reform, but a wait-and-see mood is strong ahead of Jackson Hole and tensions in North Korea still in place," Tsutomu Nakamura, strategist at Ueda Harlow Corp. in Tokyo, said in a commentary, referring to a central bankers meeting on Friday. The Japanese yen rose as investors pushed into safer investments after Trump said in a US speech that he may end NAFTA, and vowed to pressure Congress to fund a border wall with Mexico that was at the centre of his election campaign. "The NAFTA hot air may be as much an excuse to take a step back after Wall Street's surge yesterday, as it is a legitimate concern about the president not appreciating nuances of inter-dependence embedded in trade deals," Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore, told Bloomberg News. The stronger yen pared some gains in Tokyo where the benchmark Nikkei 225 index ended 0.3 per cent higher, while Seoul and Taipei edged up 0.1 per cent and Singapore was flat. But Shanghai ended 0.1 per cent lower and Sydney slipped 0.2 per cent. Hong Kong's stock market was closed as powerful Typhoon Hato brought the southern Chinese city to a standstill. Europe's main stock markets eased at the start of trading Wednesday, with London's benchmark FTSE 100 index down 0.2 per cent, while the Paris CAC 40 index dipped 0.1 per cent and Frankfurt's DAX 30 was flat. All eyes are on the Jackson Hole symposium in Wyoming at the end of the week, which brings together the world's top central bank chiefs. Much of the attention will be on Federal Reserve boss Janet Yellen, with hopes for some clues about the bank's plans to wind in its huge bond holdings. European Central Bank chief Mario Draghi's speech will also be closely watched as Frankfurt-based policymakers consider cutting back their own balance sheet. Key figures around 0900 GMT Tokyo - Nikkei 225: UP 0.3 per cent at 19,434.64 (close) Hong Kong - Hang Seng: closed Shanghai - Composite: DOWN 0.1 per cent at 3,287.71 London - FTSE 100: DOWN 0.2 per cent at 7,368.43 Euro/dollar: UP at $1.1786 from $1.1764 Pound/dollar: DOWN at $1.2799 from $1.2821 Dollar/yen: DOWN at 109.44 yen from 109.56 yen Oil - West Texas Intermediate: UP 11 cents at $47.70 per barrel Oil - Brent North Sea: DOWN 21 cents at $51.71 per barrel

Asian stock markets tick up on US tax plan hopes

Korean carmaker Hyundai launched all-new Verna Sedan in India which is built upon the K2 platform. Verna prices range from Rs. 7.99 lakh- Rs. 12.61 lakh.

Hyundai launches new Verna Sedan in India

India approved a proposal on Wednesday to set up a ministerial panel to speed up consolidation of state-run banks as part of its efforts to revive credit and economic growth.

Prime Minister Narendra Modi will name the members of the panel, which will oversee proposals for mergers from the boards of the banks, Finance Minister Arun Jaitley said after a meeting of the union&nbsp;cabinet.

The government owns majority stakes in 21 lenders, which account for more than two-thirds of banking assets in Asia`s third-biggest economy.

But these banks also account for the lion`s share of more than $150 billion in sour assets plaguing the sector, and need billions of dollars in new capital in the next two years to meet global Basel III capital norms.

Banking sector reforms are a major plank of Modi`s administration to revive credit growth, which has slowed to multi-decade lows as banks struggle with bad loans.

After top lender State Bank of India merged with its five subsidiary banks and also took over a niche state-run lender for women earlier this year, officials have said that more deals are being planned.

&quot;The object is to create strong banks,&quot; Jaitley told reporters, adding decisions would be solely based on &quot;commercial considerations&quot;.

The minister also said the onus of initiating such merger proposals would be on the boards of the banks.

Local ratings agency CRISIL, a unit of Standard &amp; Poor`s, said the new mechanism was an important first step towards kick-starting the consolidation process.

While analysts and investors have hailed the government`s plan to have fewer but nimbler banks, they are sceptical of the benefits of merging two or more weak banks or a weak bank with a stronger bank that could strain the stronger entity.

Bank employee unions have also opposed merger proposals over concerns they could lead to job losses. A million bank workers observed a one-day strike on Tuesday opposing bank mergers.

Nine of the 21 state-run banks reported a net loss for the last financial year ended March. Thirteen had posted losses the previous financial year.

Non-performing loans in the state banking sector have more than doubled in the past two years and were 12.5 percent of their total loans at the end of March. Including restructured loans, total stressed assets were more than 15 percent, central bank data shows. State-run banks as a group had a negative return on assets at the end of March, the central bank said.&nbsp;

State lenders` shares rose after the cabinet approval with the Nifty state bank index closing 2.1 percent higher in the Mumbai market that gained 0.9 percent.

Punjab National Bank, the second-biggest government-owned lender by assets, gained 3.4 percent, while No.3 Bank of Baroda added 1.2 per cent. Canara Bank rose 2.9 per cent.

The consolidation process will lead to formation of bigger banks aimed at reviving credit growth and overcome capital constraints

India approved a proposal on Wednesday to set up a ministerial panel to speed up consolidation of state-run banks as part of its efforts to revive credit and economic growth. Prime Minister Narendra Modi will name the members of the panel, which will oversee proposals for mergers from the boards of the banks, Finance Minister Arun Jaitley said after a meeting of the union cabinet. The government owns majority stakes in 21 lenders, which account for more than two-thirds of banking assets in Asia`s third-biggest economy. But these banks also account for the lion`s share of more than $150 billion in sour assets plaguing the sector, and need billions of dollars in new capital in the next two years to meet global Basel III capital norms. Banking sector reforms are a major plank of Modi`s administration to revive credit growth, which has slowed to multi-decade lows as banks struggle with bad loans. After top lender State Bank of India merged with its five subsidiary banks and also took over a niche state-run lender for women earlier this year, officials have said that more deals are being planned. "The object is to create strong banks," Jaitley told reporters, adding decisions would be solely based on "commercial considerations". The minister also said the onus of initiating such merger proposals would be on the boards of the banks. Local ratings agency CRISIL, a unit of Standard & Poor`s, said the new mechanism was an important first step towards kick-starting the consolidation process. While analysts and investors have hailed the government`s plan to have fewer but nimbler banks, they are sceptical of the benefits of merging two or more weak banks or a weak bank with a stronger bank that could strain the stronger entity. Bank employee unions have also opposed merger proposals over concerns they could lead to job losses. A million bank workers observed a one-day strike on Tuesday opposing bank mergers. Nine of the 21 state-run banks reported a net loss for the last financial year ended March. Thirteen had posted losses the previous financial year. Non-performing loans in the state banking sector have more than doubled in the past two years and were 12.5 percent of their total loans at the end of March. Including restructured loans, total stressed assets were more than 15 percent, central bank data shows. State-run banks as a group had a negative return on assets at the end of March, the central bank said. State lenders` shares rose after the cabinet approval with the Nifty state bank index closing 2.1 percent higher in the Mumbai market that gained 0.9 percent. Punjab National Bank, the second-biggest government-owned lender by assets, gained 3.4 percent, while No.3 Bank of Baroda added 1.2 per cent. Canara Bank rose 2.9 per cent.

Government clears proposal on bank consolidation, sets up ministerial panel

Mercedes-Benz India has launched two high performance cars in India to celebrate 50 years of the AMG performance brand.&nbsp;

Expanding its AMG portfolio to 12 models in India, Mercedes-Benz will be launching the GT Roadster and the GT-R at 2.19 crore (ex-showroom, India) and Rs 2.23 crore (ex-showroom, India) respectively.&nbsp;

The new Mercedes Benz AMG GT-R popularly known as &quot;Beast of the Green Hell&quot;&nbsp;is inspired from AMG GT3 racing car while the GT roadstar from GT-R.

Mercedes GT R which already holds the world record of the fastest rear-wheel-drive car around the famous Nurburgring circuit, again emerged as the fastest ever production car at a speed run conducted by FMSCI and the AMG GT R at the Buddh International Circuit wherein it covered the distance at a time of 2 minutes and 09.853 seconds.&nbsp;

The new sports car AMG GT R is the enhanced version of the GT S that is currently sold in India.The carbon fibre roof is designed to ensure high rigidity and safety and the 20 inch 5 spoke AMG &nbsp;aluminium wheels ensure weight savings. The sporty look is designed in a unique green colour with&nbsp;5-twin-spoke forged wheels with a matte black finish 
he unique green colour Mercedes-AMG GT R features 19/20-inch AMG performance.

AMG R, the Affalterbach tuned, 4.0-litre twin-turbo V8 engine, that generates 585 hp and 700 Nm of peak torque (75 hp and 50 Nm more than the GT S in India). The engine is mated to a seven-speed dual clutch automatic gearbox found in other GT model cars. With a maximum speed of 317 km/h, the GT R can sprint 0-100 km/h in just 3.6 seconds.

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Mercedes-Benz India has launched two high performance cars in India to celebrate 50 years of the AMG performance brand

Mercedes-Benz India has launched two high performance cars in India to celebrate 50 years of the AMG performance brand. Expanding its AMG portfolio to 12 models in India, Mercedes-Benz will be launching the GT Roadster and the GT-R at 2.19 crore (ex-showroom, India) and Rs 2.23 crore (ex-showroom, India) respectively. The new Mercedes Benz AMG GT-R popularly known as "Beast of the Green Hell" is inspired from AMG GT3 racing car while the GT roadstar from GT-R. Mercedes GT R which already holds the world record of the fastest rear-wheel-drive car around the famous Nurburgring circuit, again emerged as the fastest ever production car at a speed run conducted by FMSCI and the AMG GT R at the Buddh International Circuit wherein it covered the distance at a time of 2 minutes and 09.853 seconds. The new sports car AMG GT R is the enhanced version of the GT S that is currently sold in India.The carbon fibre roof is designed to ensure high rigidity and safety and the 20 inch 5 spoke AMG aluminium wheels ensure weight savings. The sporty look is designed in a unique green colour with 5-twin-spoke forged wheels with a matte black finish he unique green colour Mercedes-AMG GT R features 19/20-inch AMG performance. AMG R, the Affalterbach tuned, 4.0-litre twin-turbo V8 engine, that generates 585 hp and 700 Nm of peak torque (75 hp and 50 Nm more than the GT S in India). The engine is mated to a seven-speed dual clutch automatic gearbox found in other GT model cars. With a maximum speed of 317 km/h, the GT R can sprint 0-100 km/h in just 3.6 seconds.

Mercedes Benz AMG GT-R launched in India for Rs 2.23 crore

China&#39;s top-flight&nbsp;soccer&nbsp;league&nbsp;has signed a&nbsp;deal&nbsp;with a local developer to produce&nbsp;online&nbsp;soccer&nbsp;games&nbsp;in its first&nbsp;foray&nbsp;into gaming as it searches for new sources of revenue.

The&nbsp;Chinese&nbsp;Super&nbsp;League&nbsp;(CSL) said on Monday that it had signed a six-year partnership with Beijing-based developer Crazy Sports to develop&nbsp;soccer-related&nbsp;games&nbsp;based on 16 CSL teams and the&nbsp;league&nbsp;through 2022.

Fans of&nbsp;soccer&nbsp;video&nbsp;games&nbsp;such as Electronic Arts Inc&#39;s top-selling FIFA franchise, have been closely watching the CSL&#39;s gaming plans as its deep-pocketed teams have recruited global stars such as Carlos Tevez, Oscar and Hulk in recent months.

EA in June poured cold water on rumors that the CSL would feature in &quot;FIFA 18&quot;, the latest version of the franchise, citing licensing issues, according to sports website goal.com. EA hasdeals with&nbsp;leagues around the world including the English Premier&nbsp;League&nbsp;and Italian Serie A.

Crazy Sports said the CSL&nbsp;deal, that would give it non-exclusive rights, was worth over 100 million yuan ($15.02 million). Streaming revenue from the CSL-themed&nbsp;games&nbsp;could reach 1 billion yuan in 2020, the firm&#39;s chief executive Peng Xitao said.

&quot;The&nbsp;Chinese&nbsp;Super&nbsp;League&nbsp;is dedicated to expanding the influence and commercial value of theleague. The development of CSL-themed&nbsp;games&nbsp;is a new revenue growth point for the&nbsp;league,&quot; said CSL&#39;s chairman Ma Chengquan.

They said that they would also make the&nbsp;games&#39; content accessible to overseas gamers through European gaming partners From the Bench and&nbsp;Soccer&nbsp;Manager.

Crazy Sports, which also previously ran an&nbsp;online&nbsp;lottery platform through a separate business tie-up until the&nbsp;Chinese&nbsp;government started banning&nbsp;online&nbsp;lottery sales in 2015, said it hoped to convert its over 100 million sports lottery users to play the CSL&nbsp;games.

China&#39;s&nbsp;soccer&nbsp;industry has lured in billions of yuan investment since President Xi Jinping, a self-professed&nbsp;soccer&nbsp;fan who repeatedly expressed desire for China to host a World Cup and eventually win one, came to power in 2012.

A five-year&nbsp;deal&nbsp;to broadcast the&nbsp;games&nbsp;in China was sold at a record-high 8 billion yuan in 2015 to China Sports Media.

The?Chinese?Super?League?(CSL) said on Monday that it had signed a six-year partnership with Beijing-based developer Crazy Sports to develop?soccer-related?games?based on 16 CSL teams and the?league?through 2022

China's top-flight soccer league has signed a deal with a local developer to produce online soccer games in its first foray into gaming as it searches for new sources of revenue. The Chinese Super League (CSL) said on Monday that it had signed a six-year partnership with Beijing-based developer Crazy Sports to develop soccer-related games based on 16 CSL teams and the league through 2022. Fans of soccer video games such as Electronic Arts Inc's top-selling FIFA franchise, have been closely watching the CSL's gaming plans as its deep-pocketed teams have recruited global stars such as Carlos Tevez, Oscar and Hulk in recent months. EA in June poured cold water on rumors that the CSL would feature in "FIFA 18", the latest version of the franchise, citing licensing issues, according to sports website goal.com. EA hasdeals with leagues around the world including the English Premier League and Italian Serie A. Crazy Sports said the CSL deal, that would give it non-exclusive rights, was worth over 100 million yuan ($15.02 million). Streaming revenue from the CSL-themed games could reach 1 billion yuan in 2020, the firm's chief executive Peng Xitao said. "The Chinese Super League is dedicated to expanding the influence and commercial value of theleague. The development of CSL-themed games is a new revenue growth point for the league," said CSL's chairman Ma Chengquan. They said that they would also make the games' content accessible to overseas gamers through European gaming partners From the Bench and Soccer Manager. Crazy Sports, which also previously ran an online lottery platform through a separate business tie-up until the Chinese government started banning online lottery sales in 2015, said it hoped to convert its over 100 million sports lottery users to play the CSL games. China's soccer industry has lured in billions of yuan investment since President Xi Jinping, a self-professed soccer fan who repeatedly expressed desire for China to host a World Cup and eventually win one, came to power in 2012. A five-year deal to broadcast the games in China was sold at a record-high 8 billion yuan in 2015 to China Sports Media.

Chinese Super League plots foray into online soccer games

Indian shares ended with marginal gains on Tuesday, as markets remained range-bound with investors keeping to the sidelines due to a lack of triggers.

The benchmark BSE&nbsp;Sensex&nbsp;closed up 0.11 per cent at 31,291.85. The broader NSE Nifty ended 0.11 per cent higher at 9,765.55. Both the indexes recorded their first gain in three sessions.

Energy stocks were among the top gainers of the day, with Indian Oil Corp climbing 2.42 per cent.

In the early morning trade the Nifty was up 0.32 per cent at 9,785.35 as of 0609 GMT, while the benchmark Sensex was 0.24 per cent higher at 31,334.8.

Shares of Infosys extended losses to a third session, falling as much as 1.53 per cent, after Vishal Sikka resigned as chief executive officer on Friday. The stock has lost 14.4 per cent since Sikka&#39;s resignation up to Monday&#39;s close.

HCL Infosystems rose 18.1 per cent after signing an agreement with Apple India for distribution of iPhones and other Apple products in India.

Energy stocks gained with Indian Oil up 3.2 per cent and Oil and Natural Gas Corp rising 1.6 per cent.

Auto stocks were among the decliners, with Hero MotoCorp falling as much as 1.7 per cent.

Energy stocks were among the top gainers of the day, with Indian Oil Corp climbing 2.42 per cent

Indian shares ended with marginal gains on Tuesday, as markets remained range-bound with investors keeping to the sidelines due to a lack of triggers. The benchmark BSE Sensex closed up 0.11 per cent at 31,291.85. The broader NSE Nifty ended 0.11 per cent higher at 9,765.55. Both the indexes recorded their first gain in three sessions. Energy stocks were among the top gainers of the day, with Indian Oil Corp climbing 2.42 per cent. In the early morning trade the Nifty was up 0.32 per cent at 9,785.35 as of 0609 GMT, while the benchmark Sensex was 0.24 per cent higher at 31,334.8. Shares of Infosys extended losses to a third session, falling as much as 1.53 per cent, after Vishal Sikka resigned as chief executive officer on Friday. The stock has lost 14.4 per cent since Sikka's resignation up to Monday's close. HCL Infosystems rose 18.1 per cent after signing an agreement with Apple India for distribution of iPhones and other Apple products in India. Energy stocks gained with Indian Oil up 3.2 per cent and Oil and Natural Gas Corp rising 1.6 per cent. Auto stocks were among the decliners, with Hero MotoCorp falling as much as 1.7 per cent.

Sensex slightly up, energy stocks gain

Indian shares edged up in lacklustre trade on Tuesday, but markets remained range-bound as investors kept to the sidelines in the absence of clear triggers.

Shares erased early gains even though some amount of buying was seen across sectors. The broader NSE Nifty rose as much as 0.76 per cent in early trade.

&quot;The markets are in a consolidation phase now after disappointing Q1 results,&quot; said Siddharth Sedani, head and vice president, equity advisory at Anand Rathi.

&quot;In the short-term, I see markets range-bound between 9,600-10,000 and change is unlikely unless there are strong geo-political triggers.&quot;

The Nifty was up 0.32 per cent at 9,785.35 as of 0609 GMT, while the benchmark Sensex was 0.24 per cent higher at 31,334.8.

Shares of Infosys extended losses to a third session, falling as much as 1.53 per cent, after Vishal Sikka resigned as chief executive officer on Friday. The stock has lost 14.4 per cent since Sikka&#39;s resignation up to Monday&#39;s close.

HCL Infosystems rose 18.1 per cent after signing an agreement with Apple India for distribution of iPhones and other Apple products in India.

Energy stocks gained with Indian Oil up 3.2 per cent and Oil and Natural Gas Corp rising 1.6 per cent.

Auto stocks were among the decliners, with Hero MotoCorp falling as much as 1.7 per cent.

Shares erased early gains even though some amount of buying was seen across sectors

Indian shares edged up in lacklustre trade on Tuesday, but markets remained range-bound as investors kept to the sidelines in the absence of clear triggers. Shares erased early gains even though some amount of buying was seen across sectors. The broader NSE Nifty rose as much as 0.76 per cent in early trade. "The markets are in a consolidation phase now after disappointing Q1 results," said Siddharth Sedani, head and vice president, equity advisory at Anand Rathi. "In the short-term, I see markets range-bound between 9,600-10,000 and change is unlikely unless there are strong geo-political triggers." The Nifty was up 0.32 per cent at 9,785.35 as of 0609 GMT, while the benchmark Sensex was 0.24 per cent higher at 31,334.8. Shares of Infosys extended losses to a third session, falling as much as 1.53 per cent, after Vishal Sikka resigned as chief executive officer on Friday. The stock has lost 14.4 per cent since Sikka's resignation up to Monday's close. HCL Infosystems rose 18.1 per cent after signing an agreement with Apple India for distribution of iPhones and other Apple products in India. Energy stocks gained with Indian Oil up 3.2 per cent and Oil and Natural Gas Corp rising 1.6 per cent. Auto stocks were among the decliners, with Hero MotoCorp falling as much as 1.7 per cent.

Sensex edges up, trades dull on lack of triggers

The announcement of a <a href="http://www.wionews.com/business-economy/infosys-to-buyback-shares-worth-up-to-130-billion-rupees-19210" target="_blank">share buyback woth Rupees 13,000 crore</a> failed to cheer investors as the Infosys scrip tanked over five per cent.

The stock continued its slide for the second consecutive session closing at Rupees 873.50 on the BSE.&nbsp;

<a href="http://www.wionews.com/business-economy/sensex-ends-lower-infosys-dips-over-five-per-cent-19265" target="_blank">Benchmark indices were down</a> 0.84 per cent, falling&nbsp;for the&nbsp;second consecutive session.

&quot;Market failed to retain its opening strength due to continued pressure on the IT major, despite a premium buyback announcement,&quot; said Vinod Nair, Head of Research, Geojit Financial Services Ltd as quoted by PTI.

On Friday, the stock had slumped 10 per cent. In the last two consecutive trading sessions the company&#39;s market valuation has seen a drop of Rupees 33,911.93 crore.

The <a href="http://www.wionews.com/business-economy/vishal-sikka-resigns-as-md-ceo-of-infosys-to-be-executive-vice-chairman-19151" target="_blank">exit of Vishal Sikka as the CEO of Infosys</a> has caused a firestorm within the IT giant. The IT company&#39;s board targeted the founder, NR Narayana Murthy, and blamed him for Sikka&#39;s exit. 
&nbsp;

(With inputs from PTI)

The company had announced that it would buy back shares worth 13,000 crore

The announcement of a share buyback woth Rupees 13,000 crore failed to cheer investors as the Infosys scrip tanked over five per cent. The stock continued its slide for the second consecutive session closing at Rupees 873.50 on the BSE. Benchmark indices were down 0.84 per cent, falling for the second consecutive session. "Market failed to retain its opening strength due to continued pressure on the IT major, despite a premium buyback announcement," said Vinod Nair, Head of Research, Geojit Financial Services Ltd as quoted by PTI. On Friday, the stock had slumped 10 per cent. In the last two consecutive trading sessions the company's market valuation has seen a drop of Rupees 33,911.93 crore. The exit of Vishal Sikka as the CEO of Infosys has caused a firestorm within the IT giant. The IT company's board targeted the founder, NR Narayana Murthy, and blamed him for Sikka's exit. (With inputs from PTI)

Infosys buyback offer fails to lift spirits, stock tanks over 5%

Facebook&nbsp;founder Mark Zuckerberg said on Friday he would be taking two months of paternity leave after the birth of his second daughter.

Zuckerberg said he would be taking advantage of Facebook&#39;s option to take leaves in parts.&nbsp;

&quot;I&#39;ll take a month off to be with Priscilla (Chan) and the girls at the beginning, and then we&#39;ll spend the whole month of December together as well,&quot; Zuckerberg wrote in a Facebook post.

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Zuckerberg had also taken a two-month paternity leave following the birth of his first child, Maxima Chan Zuckerberg, in 2015.

The billionaire internet mogul said in March that the couple was expecting a second child.

Zuckerberg said he would be taking advantage of Facebook's option to take leaves in parts

Facebook founder Mark Zuckerberg said on Friday he would be taking two months of paternity leave after the birth of his second daughter. Zuckerberg said he would be taking advantage of Facebook's option to take leaves in parts. "I'll take a month off to be with Priscilla (Chan) and the girls at the beginning, and then we'll spend the whole month of December together as well," Zuckerberg wrote in a Facebook post. × Zuckerberg had also taken a two-month paternity leave following the birth of his first child, Maxima Chan Zuckerberg, in 2015. The billionaire internet mogul said in March that the couple was expecting a second child.

Facebook's Mark Zuckerberg to take two months paternity leave

<a href="http://www.wionews.com/india-news/read-infosyss-point-by-point-denial-of-narayana-murthys-allegations-19193">Vishal Sikka&#39;s exit from Infosys</a> continued to weigh on the <a href="https://www.wionews.com/business-economy/infosys-continues-to-reel-after-ceo-exit-sensex-little-changed-19253">Sensex as shares ended lower on Monday with Infosys extending losses </a>for the second successive session.

The benchmark BSE Sensex closed down 0.84 per cent at 31,258.85, its lowest in five sessions while the NSE index ended 0.84 per cent lower at 9,754.35. Both the indexes fell for a second straight day today.

Infosys closed 5.75 per cent lower. The stock <a href="http://www.wionews.com/business-economy/infosys-to-consider-share-buyback-proposal-19099">is down 14.4 </a><a href="http://www.wionews.com/business-economy/infosys-to-consider-share-buyback-proposal-19099">per cent</a><a href="http://www.wionews.com/business-economy/infosys-to-consider-share-buyback-proposal-19099"> since Vishal Sikka&#39;s</a> resignation. Tata Consultancy Services Ltd ended the day 0.6 per cent higher.

The benchmark BSE Sensex closed down 0.84 per cent at 31,258.85

Vishal Sikka's exit from Infosys continued to weigh on the Sensex as shares ended lower on Monday with Infosys extending losses for the second successive session. The benchmark BSE Sensex closed down 0.84 per cent at 31,258.85, its lowest in five sessions while the NSE index ended 0.84 per cent lower at 9,754.35. Both the indexes fell for a second straight day today. Infosys closed 5.75 per cent lower. The stock is down 14.4 per cent since Vishal Sikka's resignation. Tata Consultancy Services Ltd ended the day 0.6 per cent higher.

Sensex ends lower, Infosys dips over five per cent

Online abuse will be treated as seriously as offline offences, Britain&#39;s prosecution service said on Monday in new guidance on handling hate crimes.

The rules, which included guidelines on helping disabled and bisexual victims, were meant to encourage more people to come forward and press courts to impose longer sentences, the Crown Prosecution Service said.

&quot;This is a crime that&#39;s under-reported. Sometimes people feel that they just have to put up with it ... That&#39;s absolutely not the case,&quot; Alison Saunders, the director of public prosecutions, told the BBC.

The new advice was in response to the growth of social media, the CPS said. There have been several high-profile instances of successful prosecutions of people who had abused lawmakers and other public figures online.

The rules, which included guidelines on helping disabled and bisexual victims, were meant to encourage more people to come forward and press courts to impose longer sentences, the Crown Prosecution Service said

Online abuse will be treated as seriously as offline offences, Britain's prosecution service said on Monday in new guidance on handling hate crimes. The rules, which included guidelines on helping disabled and bisexual victims, were meant to encourage more people to come forward and press courts to impose longer sentences, the Crown Prosecution Service said. "This is a crime that's under-reported. Sometimes people feel that they just have to put up with it ... That's absolutely not the case," Alison Saunders, the director of public prosecutions, told the BBC. The new advice was in response to the growth of social media, the CPS said. There have been several high-profile instances of successful prosecutions of people who had abused lawmakers and other public figures online.

Britain to treat internet hate crime as seriously as offline offences

Indian shares were little changed in lacklustre trade on Monday as gains in metal stocks such as Vedanta on the back of a price rally in London offset an extended slump in market heavyweight Infosys.

Infosys shed as much as 4.56 per cent following Friday&#39;s about 10 per cent plunge after Vishal Sikka resigned as the chief executive and managing director on the back of a fall-out with the company&#39;s founders. Multiple brokerages, including Nomura, downgraded the stock.

&quot;Difficult to gauge when Infosys shares will see a recovery,&quot; said Pankaj Kapoor, executive director of India IT services and software equity research at JM Financial Institutional Securities.

&quot;There are too many uncertainties surrounding the company now.&quot;

The broader NSE Nifty was up 0.04 per cent at 9,841.6 as of 0615 GMT, while the benchmark BSE Sensex was down 0.02 per cent higher at 31,517.80.

The Nifty Metal index rose over 2 per cent with Vedanta rising as much as 2.7 per cent and Hindalco Industries gaining up to 2.8 per cent.

London Metal Exchange (LME) zinc rose about 1 per cent to its highest in almost a decade, while copper rose as much as 0.6 per cent.

Meanwhile, shares of Infosys&#39; rivals advanced. Tata Consultancy Services rose 1.2 per cent after gaining 1.1 per cent on Friday.

Meanwhile, shares of Infosys' rivals advanced. Tata Consultancy Services rose 1.2 per cent after gaining 1.1 per cent on Friday

Indian shares were little changed in lacklustre trade on Monday as gains in metal stocks such as Vedanta on the back of a price rally in London offset an extended slump in market heavyweight Infosys. Infosys shed as much as 4.56 per cent following Friday's about 10 per cent plunge after Vishal Sikka resigned as the chief executive and managing director on the back of a fall-out with the company's founders. Multiple brokerages, including Nomura, downgraded the stock. "Difficult to gauge when Infosys shares will see a recovery," said Pankaj Kapoor, executive director of India IT services and software equity research at JM Financial Institutional Securities. "There are too many uncertainties surrounding the company now." The broader NSE Nifty was up 0.04 per cent at 9,841.6 as of 0615 GMT, while the benchmark BSE Sensex was down 0.02 per cent higher at 31,517.80. The Nifty Metal index rose over 2 per cent with Vedanta rising as much as 2.7 per cent and Hindalco Industries gaining up to 2.8 per cent. London Metal Exchange (LME) zinc rose about 1 per cent to its highest in almost a decade, while copper rose as much as 0.6 per cent. Meanwhile, shares of Infosys' rivals advanced. Tata Consultancy Services rose 1.2 per cent after gaining 1.1 per cent on Friday.

Infosys continues to reel after CEO exit, Sensex little changed

Russia&#39;s largest oil producer Rosneft said&nbsp;on Monday&nbsp;it had successfully closed a deal to buy a 49 per cent stake in Indian private refiner Essar Oil Limited (EOL).

An investment consortium comprising Trafigura and UCP has also announced the closure of their acquisition of a separate 49 per cent share of EOL.

&quot;Together with our partners, we intend to support the company to significantly improve its financial performance and, in the medium term, adopt an asset development strategy,&quot; Rosneft cited its CEO Igor Sechin as saying in a statement.

An investment consortium comprising Trafigura and UCP has also announced the closure of their acquisition of a separate 49 per cent share of EOL

Russia's largest oil producer Rosneft said on Monday it had successfully closed a deal to buy a 49 per cent stake in Indian private refiner Essar Oil Limited (EOL). An investment consortium comprising Trafigura and UCP has also announced the closure of their acquisition of a separate 49 per cent share of EOL. "Together with our partners, we intend to support the company to significantly improve its financial performance and, in the medium term, adopt an asset development strategy," Rosneft cited its CEO Igor Sechin as saying in a statement.

Russia's Rosneft closes deal to buy 49 per cent stake in India's Essar Oil

The<a href="http://www.wionews.com/science-tech/the-rs-30k-battle-oneplus-5-vs-honor-8-pro-18003"> Chinese smartphone company OnePlus</a> is expanding its &#39;successful smartphone&#39; OnePlus 5 series in India.&nbsp;

In addition to the already available Midnight Black and Soft Gold, the company will be offering a new variant, Slate Grey colour handset.

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/OnePlus5?src=hash">#OnePlus5</a> Slate Gray with 8GB RAM and 128GB storage is now LIVE with insane offers! Get yours ?? <a href="https://t.co/w3KENGYeTP">https://t.co/w3KENGYeTP</a> <a href="https://twitter.com/hashtag/SuperSellerWeek?src=hash">#SuperSellerWeek</a> <a href="https://t.co/iaJW8WjFB6">pic.twitter.com/iaJW8WjFB6</a>
&mdash; OnePlus India (@OnePlus_IN) <a href="https://twitter.com/OnePlus_IN/status/899490111712149505">August 21, 2017</a></blockquote>
<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

The phone, priced at Rs 37,999 can be easily purchased from Amazon India or Oneplusstore.in.&nbsp;

Amazon India will also be providing special offers during the One Plus Super Seller week from August 21 to August 25.

The users can avail Rs 2000 off on Exchange, No Cost EMI options on credit cards, and Rs. 1,500 on the use of Amazon Pay Account, American Express card or Amazon Gift Card, besides getting a special offer on Cleartrip on the purchase of any OnePlus handset.

The new colour variant will flaunt the features of the previous releases, which means, the phone will have a 5.5-inch full HD Optic AMOLED display with a resolution of 1920x1080 pixels, and will be powered by a Snapdragon 835 octa-core chipset and&nbsp;128GB storage with 8GB RAM.&nbsp;

In June the company claimed OnePlus 5 to be the highest revenue-grossing smartphone on Amazon India.&nbsp;

&nbsp;

The phone, priced at Rs 37,999 can be easily purchased from Amazon India or Oneplusstore.in

The Chinese smartphone company OnePlus is expanding its 'successful smartphone' OnePlus 5 series in India. In addition to the already available Midnight Black and Soft Gold, the company will be offering a new variant, Slate Grey colour handset. #OnePlus5 Slate Gray with 8GB RAM and 128GB storage is now LIVE with insane offers! Get yours ?? https://t.co/w3KENGYeTP #SuperSellerWeek pic.twitter.com/iaJW8WjFB6 — OnePlus India (@OnePlus_IN) August 21, 2017 × The phone, priced at Rs 37,999 can be easily purchased from Amazon India or Oneplusstore.in. Amazon India will also be providing special offers during the One Plus Super Seller week from August 21 to August 25. The users can avail Rs 2000 off on Exchange, No Cost EMI options on credit cards, and Rs. 1,500 on the use of Amazon Pay Account, American Express card or Amazon Gift Card, besides getting a special offer on Cleartrip on the purchase of any OnePlus handset. The new colour variant will flaunt the features of the previous releases, which means, the phone will have a 5.5-inch full HD Optic AMOLED display with a resolution of 1920x1080 pixels, and will be powered by a Snapdragon 835 octa-core chipset and 128GB storage with 8GB RAM. In June the company claimed OnePlus 5 to be the highest revenue-grossing smartphone on Amazon India.

OnePlus 5 smartphone at Rs 37,999 to be launched in slate gray

At a time when the market regulator Securities and Exchange Board of India (Sebi)&nbsp;is cracking down on shell companies, BSE has decided to &#39;compulsorily&#39; delist 200 firms from the stock exchange, reported PTI.&nbsp;

It will also bar the promoters of these companies from accessing the markets for 10 years. Trading in the shares of these companies have remained suspended for 10 years.

These firms will be &quot;delisted from the platform of the exchange, with effect from August 23, 2017 pursuant to order of the delisting committee of the exchange in terms of Sebi (Delisting of Equity Shares) Regulations&quot;, BSE said in three separate circulars, PTI said.

The government, in July, had ordered closure of 200,000 shell firms and action against more is expected to be taken soon.

Prime Minister Modi in his independence day speech had said that those who have looted the wealth of the nation will not be spared.

Post demonetisation, authorities have seen a significant spurt in shell companies depositing cash, Reuters said in a &nbsp;report.

The crack down on these shell firms will significantly curb tax evasion and increase compliance.

(With inputs from agencies)

The move comes at a time when the government has taken a tough stand against shell firms which facilitate tax evasion

At a time when the market regulator Securities and Exchange Board of India (Sebi) is cracking down on shell companies, BSE has decided to 'compulsorily' delist 200 firms from the stock exchange, reported PTI. It will also bar the promoters of these companies from accessing the markets for 10 years. Trading in the shares of these companies have remained suspended for 10 years. These firms will be "delisted from the platform of the exchange, with effect from August 23, 2017 pursuant to order of the delisting committee of the exchange in terms of Sebi (Delisting of Equity Shares) Regulations", BSE said in three separate circulars, PTI said. The government, in July, had ordered closure of 200,000 shell firms and action against more is expected to be taken soon. Prime Minister Modi in his independence day speech had said that those who have looted the wealth of the nation will not be spared. Post demonetisation, authorities have seen a significant spurt in shell companies depositing cash, Reuters said in a report. The crack down on these shell firms will significantly curb tax evasion and increase compliance. (With inputs from agencies)

BSE to 'compulsorily' delist 200 companies, bar promoters for 10 years

India&#39;s second-biggest IT firm Infosys said on Saturday it will buy back shares worth up to 130 billion rupees ($2 billion), a day after Vishal Sikka resigned as chief executive after a long-running feud with the company&#39;s founders.

The board of Bengaluru-headquartered Infosys approved the repurchase of 113 million shares at 1,150 rupees apiece, the company said in a stock exchange filing, returning cash to investors at a substantial premium to Friday&#39;s closing price of 923.25 rupees.

It is also at a premium of 17.9 per cent to closing price on Thursday, the day the company informed the exchanges about the board meeting to consider a buyback.

The announcement of the company&#39;s first-ever buyback could offer at least some respite to Infosys shareholders on Monday after the value of their holdings fell nearly 10 per cent on Friday following Sikka&#39;s surprise exit.

&quot;If the overall market sentiment is good, you could see a 4-5 per cent recovery looking at this price,&quot; said Arun Kejriwal, founder of Kejriwal Research &amp; Investment Services.

A senior official at state-run Life Insurance Corp (LIC), which owns a 7 per cent stake in Infosys, said they were closely monitoring the situation at the company and were looking to meet with the management before deciding to participate in the buyback.

Friday&#39;s sell-off prompted three U.S. law firms specializing in class action lawsuits to announce that they are probing potential securities claims on behalf of Infosys investors that have suffered losses.

In a statement late on Friday, New York-based Rosen Law Firm called on aggrieved shareholders to come forward and said that it was investigating whether &quot;Infosys may have issued materially misleading business information to the investing public.&quot;

The other two firms investigating claims are Goldberg Law and Pomerantz LLP, which said they were probing whether Infosys or any of its officers, or directors engaged in securities fraud or other unlawful business practices, in light of the allegations of governance lapses made by founder executives against the board of the company.

Infosys&#39; American Depositary Receipts closed over 7 per cent lower at $14.79 Friday on the Nasdaq.

Infosys was not immediately available for comment on statements made by the US-based law firms.

Sikka, the first non-founder chief executive of the company, announced his sudden resignation following a protracted war of words with the founders group, led by Narayana Murthy.

His replacement will take on the task of improving the company&#39;s fortunes at a time when the $150 billion Indian IT services sector is facing a raft of challenges.

&quot;The share buyback is unlikely to soothe investor sentiment,&quot; said R K Gupta, managing director at Taurus Asset Management which owns shares in Infosys.

&quot;What will matter in the long run is how well a new management team can lead the company and quickly tap the market for transformation services such as cloud.&quot;

Bigger, cash-rich rival Tata Consultancy Services announced a buyback of up to 160 billion rupees earlier this year.

The decision came a day after company's chief executive officer Vishal Sikka announced his sudden resignation

India's second-biggest IT firm Infosys said on Saturday it will buy back shares worth up to 130 billion rupees ($2 billion), a day after Vishal Sikka resigned as chief executive after a long-running feud with the company's founders. The board of Bengaluru-headquartered Infosys approved the repurchase of 113 million shares at 1,150 rupees apiece, the company said in a stock exchange filing, returning cash to investors at a substantial premium to Friday's closing price of 923.25 rupees. It is also at a premium of 17.9 per cent to closing price on Thursday, the day the company informed the exchanges about the board meeting to consider a buyback. The announcement of the company's first-ever buyback could offer at least some respite to Infosys shareholders on Monday after the value of their holdings fell nearly 10 per cent on Friday following Sikka's surprise exit. "If the overall market sentiment is good, you could see a 4-5 per cent recovery looking at this price," said Arun Kejriwal, founder of Kejriwal Research & Investment Services. A senior official at state-run Life Insurance Corp (LIC), which owns a 7 per cent stake in Infosys, said they were closely monitoring the situation at the company and were looking to meet with the management before deciding to participate in the buyback. Friday's sell-off prompted three U.S. law firms specializing in class action lawsuits to announce that they are probing potential securities claims on behalf of Infosys investors that have suffered losses. In a statement late on Friday, New York-based Rosen Law Firm called on aggrieved shareholders to come forward and said that it was investigating whether "Infosys may have issued materially misleading business information to the investing public." The other two firms investigating claims are Goldberg Law and Pomerantz LLP, which said they were probing whether Infosys or any of its officers, or directors engaged in securities fraud or other unlawful business practices, in light of the allegations of governance lapses made by founder executives against the board of the company. Infosys' American Depositary Receipts closed over 7 per cent lower at $14.79 Friday on the Nasdaq. Infosys was not immediately available for comment on statements made by the US-based law firms. Sikka, the first non-founder chief executive of the company, announced his sudden resignation following a protracted war of words with the founders group, led by Narayana Murthy. His replacement will take on the task of improving the company's fortunes at a time when the $150 billion Indian IT services sector is facing a raft of challenges. "The share buyback is unlikely to soothe investor sentiment," said R K Gupta, managing director at Taurus Asset Management which owns shares in Infosys. "What will matter in the long run is how well a new management team can lead the company and quickly tap the market for transformation services such as cloud." Bigger, cash-rich rival Tata Consultancy Services announced a buyback of up to 160 billion rupees earlier this year.

Infosys to buyback shares worth up to 130 billion rupees

<a href="http://www.wionews.com/business-economy/vishal-sikka-resigns-as-md-ceo-of-infosys-to-be-executive-vice-chairman-19151">Vishal Sikka resigned as the managing director</a> and CEO of Infosys today.&nbsp;The company blamed&nbsp;&quot;NR Narayana Murthy&#39;s continuous assault&quot; for Sikka&#39;s resignation.

The board of directors of Infosys Ltd have accepted Sikka&#39;s&nbsp;resignation.

Speaking to investors, Sikka said headwinds are an exciting challenge, but drumbeat of allegations was &quot;sickening&quot;.

At the Infosys press conference shortly afterward, he&nbsp;said it was difficult to deal with the &quot;continuous allegations&quot;.

&quot;It was difficult to deal with the continuous allegations and noise regarding Rajiv Bansal separation, and many other issues. I realised that it was taking a heavy toll on not only the organization but also me. So, I felt that it is an undeniable situation and should come to an end,&quot; Vishal Sikka&nbsp;during the Infosys press conference.

The former Infosys CEO said he was proud of his results.

&quot;I started more than three years ago on this journey, I am proud of the results we achieved. Automation and invocation have always been my main endeavour.&quot;

Infosys Chairman R Seshasayee thanked Vishal Sikka for giving the company a new direction during his tenure.

&quot;I thank Vishal for bringing the new level of energy to this company. We will not only take the transition smooth, but we will also make sure that we get the right kind of leadership to move forward,&quot; he said.

&quot;What has been going on since the last 4-5 quarters, especially since February, this continuous drumbeat of these allegations, news stories, the same stuff over Rajiv&rsquo;s [Bansal] separation, &nbsp;Panaya [acquisition].. it is absolutely sickening,&quot; Sikka told investors earlier.

Sikka added the &quot;negative environment&quot; led him to introspect. &quot;I just couldn&#39;t do it anymore&quot;.

Sikka said Pravin Rao will continue to report to him as part of the interim management setup.

&quot;You hear <a href="http://www.wionews.com/business-economy/infosys-rejects-murthys-request-to-make-panaya-acquisition-report-public-18605">Panaya in the news for all the wrong reasons</a>, but it is a very integral part of our work,&quot; Sikka said.

&quot;I am still here to guide the change,&quot; Sikka insisted.

Sikka said the attacks against had got &quot;malicious and personal&quot; in recent months, adding the Board had asked him to reconsider his decision.

&nbsp;In a blog post titled &quot;Moving On&quot;, the former Infosys CEO&nbsp;had&nbsp;said that the &quot;personal attacks&quot; on him was one of the reasons for his decision to resign

During the investor meet, Infosys co-chairman Ravi Venkatesan said the Board has no intention of inviting Narayana Murthy to be a part of the formal governance of the company.

Infosys has strongly defended the former CEO. 
 
Infosys chairman R Seshasayee refuted Narayan Murthy&#39;s allegations and came down staunchly in support of Sikka. Murthy has raised concerns about the standards of the&nbsp;corporate governance of the Infosys Board. He has also&nbsp;&nbsp;questioned the high compensation paid to Sikka and the&nbsp;severance package of some of the former top executives.

&quot;To suggest that renowned law and audit firms will connive with board, overlook &#39;misdeeds&#39; of CEO and post clean report is completely untenable,&quot; Seshasayee said.

&quot;To give shareholders task of taking up anonymous complaints and appointing committee for probe the best way to destroy an organisation.&quot;

Meanwhile, Infosys shares tanked ten per cent in intraday trade after news broke about Sikka&#39;s resignation.&nbsp; 
&nbsp;

Sikka said the "negative environment" led him to introspect. "I just couldn't do it anymore".

Vishal Sikka resigned as the managing director and CEO of Infosys today. The company blamed "NR Narayana Murthy's continuous assault" for Sikka's resignation. The board of directors of Infosys Ltd have accepted Sikka's resignation. Speaking to investors, Sikka said headwinds are an exciting challenge, but drumbeat of allegations was "sickening". At the Infosys press conference shortly afterward, he said it was difficult to deal with the "continuous allegations". "It was difficult to deal with the continuous allegations and noise regarding Rajiv Bansal separation, and many other issues. I realised that it was taking a heavy toll on not only the organization but also me. So, I felt that it is an undeniable situation and should come to an end," Vishal Sikka during the Infosys press conference. The former Infosys CEO said he was proud of his results. "I started more than three years ago on this journey, I am proud of the results we achieved. Automation and invocation have always been my main endeavour." Infosys Chairman R Seshasayee thanked Vishal Sikka for giving the company a new direction during his tenure. "I thank Vishal for bringing the new level of energy to this company. We will not only take the transition smooth, but we will also make sure that we get the right kind of leadership to move forward," he said. "What has been going on since the last 4-5 quarters, especially since February, this continuous drumbeat of these allegations, news stories, the same stuff over Rajiv’s [Bansal] separation, Panaya [acquisition].. it is absolutely sickening," Sikka told investors earlier. Sikka added the "negative environment" led him to introspect. "I just couldn't do it anymore". Sikka said Pravin Rao will continue to report to him as part of the interim management setup. "You hear Panaya in the news for all the wrong reasons, but it is a very integral part of our work," Sikka said. "I am still here to guide the change," Sikka insisted. Sikka said the attacks against had got "malicious and personal" in recent months, adding the Board had asked him to reconsider his decision. In a blog post titled "Moving On", the former Infosys CEO had said that the "personal attacks" on him was one of the reasons for his decision to resign During the investor meet, Infosys co-chairman Ravi Venkatesan said the Board has no intention of inviting Narayana Murthy to be a part of the formal governance of the company. Infosys has strongly defended the former CEO. Infosys chairman R Seshasayee refuted Narayan Murthy's allegations and came down staunchly in support of Sikka. Murthy has raised concerns about the standards of the corporate governance of the Infosys Board. He has also questioned the high compensation paid to Sikka and the severance package of some of the former top executives. "To suggest that renowned law and audit firms will connive with board, overlook 'misdeeds' of CEO and post clean report is completely untenable," Seshasayee said. "To give shareholders task of taking up anonymous complaints and appointing committee for probe the best way to destroy an organisation." Meanwhile, Infosys shares tanked ten per cent in intraday trade after news broke about Sikka's resignation.

Drumbeat of allegations was 'sickening': Vishal Sikka after resignation

India&#39;s biggest airline,&nbsp;IndiGo, has been forced to ground 13 planes and cancel 84 flights because of issues with its Pratt and Whitney made engines on its Airbus A320 neo aircraft, Indian TV channels reported on Friday.

IndiGo&nbsp;and rival GoAir have been facing delays in receiving planes from Airbus due to ongoing problems with engines developed by Pratt and Whitney, owned by United Technologies&nbsp;

IndiGo, which flies four in every 10 Indian air passengers, is owned by InterGlobe Aviation&nbsp;and operates hundreds of flights each day.

Indigo cancelled the flights because of issues with its Pratt and Whitney made engines on its Airbus A320 neo aircraft

India's biggest airline, IndiGo, has been forced to ground 13 planes and cancel 84 flights because of issues with its Pratt and Whitney made engines on its Airbus A320 neo aircraft, Indian TV channels reported on Friday. IndiGo and rival GoAir have been facing delays in receiving planes from Airbus due to ongoing problems with engines developed by Pratt and Whitney, owned by United Technologies IndiGo, which flies four in every 10 Indian air passengers, is owned by InterGlobe Aviation and operates hundreds of flights each day.

IndiGo grounds 13 planes over engine issues: Report

Indian shares fell on Friday, snapping a three-day winning streak, as Infosys<a href="http://www.wionews.com/business-economy/infosys-crisis-drumbeat-of-allegations-was-sickening-sikka-to-investors-19164">&nbsp;Chief Executive Vishal Sikka&#39;s resignation sent the stock </a>tumbling, although rivals such as Tata Consultancy Services gained.

<a href="http://www.wionews.com/business-economy/vishal-sikka-resigns-as-md-ceo-of-infosys-to-be-executive-vice-chairman-19151">Sikka resigned as chief executive and managing director of Infosys</a> with immediate effect and the country&#39;s no.2 IT services company named UB Pravin Rao as his interim replacement.

Infosys shares fell as much 9.4 per cent to their lowest since June 28, on way to their steepest intraday percentage loss since April 2013.

The sentiment was also hit as Asian shares joined a global retreat from riskier assets on rising doubts about US President Donald Trump&#39;s ability to deliver his economic agenda.

But Indian indexes were still headed for their sixth weekly gain in seven, though they remain below the record highs hit on August 2.

&quot;There is some dip because of Infosys. Market is under pressure, the uptrend which was there since December is under pressure,&quot; said Anupam Singhi, chief operations officer, Marketsmith India, part of William O&#39;Neil India.

The broader NSE Nifty was down 0.74 per cent at 9,830.40 as of 0636 GMT, but was up 1.3 per cent for the week.

The benchmark BSE Sensex was 0.88 per cent lower at 31,513.91, but was up 1 per cent for the week.

Drug makers, which have significant exports to the United States, also dropped, with the Nifty Pharma index falling as much as 1.7 per cent.

But Infosys&#39; rivals gained, with Tech Mahindra&nbsp;and Tata Consultancy Services&nbsp;rising over 2.5 per cent each.

Bank shares were also a big drag on the indexes.

Infosys shares fell as much 9.4 per cent to their lowest since June 28, on way to their steepest intraday percentage loss since April 2013

Indian shares fell on Friday, snapping a three-day winning streak, as Infosys Chief Executive Vishal Sikka's resignation sent the stock tumbling, although rivals such as Tata Consultancy Services gained. Sikka resigned as chief executive and managing director of Infosys with immediate effect and the country's no.2 IT services company named UB Pravin Rao as his interim replacement. Infosys shares fell as much 9.4 per cent to their lowest since June 28, on way to their steepest intraday percentage loss since April 2013. The sentiment was also hit as Asian shares joined a global retreat from riskier assets on rising doubts about US President Donald Trump's ability to deliver his economic agenda. But Indian indexes were still headed for their sixth weekly gain in seven, though they remain below the record highs hit on August 2. "There is some dip because of Infosys. Market is under pressure, the uptrend which was there since December is under pressure," said Anupam Singhi, chief operations officer, Marketsmith India, part of William O'Neil India. The broader NSE Nifty was down 0.74 per cent at 9,830.40 as of 0636 GMT, but was up 1.3 per cent for the week. The benchmark BSE Sensex was 0.88 per cent lower at 31,513.91, but was up 1 per cent for the week. Drug makers, which have significant exports to the United States, also dropped, with the Nifty Pharma index falling as much as 1.7 per cent. But Infosys' rivals gained, with Tech Mahindra and Tata Consultancy Services rising over 2.5 per cent each. Bank shares were also a big drag on the indexes.

Sensex falls as Infosys CEO resigns

<a href="http://www.wionews.com/business-economy/vishal-sikka-resigns-as-md-ceo-of-infosys-to-be-executive-vice-chairman-19151">Vishal Sikka resigned as the managing director</a>&nbsp;and CEO of Infosys today. In a blog post titled &quot;Moving On&quot; Vishal Sikka said that the &quot;personal attacks&quot; on him was one of the reasons for his decision to resign

The company blamed&nbsp;&quot;NR Narayana Murthy&#39;s continuous assault&quot; for Sikka&#39;s resignation.

Live updates from the&nbsp;Infosys press conference:

Succession planning high priority for board; important that next CEO buys into vision, culture and is people- oriented: Infy co-Chair Ravi Venkatesan.

 
No change in buyback plans, have made commitment on how much and when to return cash to shareholders: Infy Chairman R Seshasayee.

To suggest that renowned law and audit firms will connive with board, overlook &#39;misdeeds&#39; of CEO and post clean report is completely untenable: Seshasayee

To give shareholders task of taking up anonymous complaints and appointing committee for probe the best way to destroy an organisation: Seshasayee.&nbsp;

&nbsp;The Board is committed to the strategic direction set by Vishal Sikka: Ravi Venkatesan, Co-chairman Infosys

I have no interest in being the next CEO, not in contention for the position: Infosys co-chairman Ravi Venkatesan

No doubt that Vishal Sikka is a phenomenal guy, the world knows it. He has blossomed as a leader: Ravi Venkatesan

The Board currently has no intention of asking Mr&nbsp;Murthy to play a formal role in the governance of the organisation: Infosys

I have no interest in being the next CEO, not in contention for the position: Infosys Co-chairman Ravi Venkatesan

We came to conclusion that I will stay on as executive vice-chairman, help&nbsp;in transition and UB Pravin Rao will be interim CEO: Vishal Sikka 
 
What was difficult to deal with was continuous allegations and continuous noise around the same thing: Vishal Sikka

At a point you realise it&#39;s taking a heavy toll on the organisation and personally so I felt it&#39;s an untenable situation: Vishal Sikka 
 
In many ways it is a sad day, but in many ways it might help things: Vishal Sikka

Anguished by allegations, tone and tenor of statements made by Infosys board, below my dignity to respond to baseless insinuations: N R Narayana Murthy

I started more than 3 years ago on this journey, I am proud of the results we achieved: Vishal Sikka

Vishal Sikka resigned as the managing director and CEO of Infosys today

Vishal Sikka resigned as the managing director and CEO of Infosys today. In a blog post titled "Moving On" Vishal Sikka said that the "personal attacks" on him was one of the reasons for his decision to resign The company blamed "NR Narayana Murthy's continuous assault" for Sikka's resignation. Live updates from the Infosys press conference: Succession planning high priority for board; important that next CEO buys into vision, culture and is people- oriented: Infy co-Chair Ravi Venkatesan. No change in buyback plans, have made commitment on how much and when to return cash to shareholders: Infy Chairman R Seshasayee. To suggest that renowned law and audit firms will connive with board, overlook 'misdeeds' of CEO and post clean report is completely untenable: Seshasayee To give shareholders task of taking up anonymous complaints and appointing committee for probe the best way to destroy an organisation: Seshasayee. The Board is committed to the strategic direction set by Vishal Sikka: Ravi Venkatesan, Co-chairman Infosys I have no interest in being the next CEO, not in contention for the position: Infosys co-chairman Ravi Venkatesan No doubt that Vishal Sikka is a phenomenal guy, the world knows it. He has blossomed as a leader: Ravi Venkatesan The Board currently has no intention of asking Mr Murthy to play a formal role in the governance of the organisation: Infosys I have no interest in being the next CEO, not in contention for the position: Infosys Co-chairman Ravi Venkatesan We came to conclusion that I will stay on as executive vice-chairman, help in transition and UB Pravin Rao will be interim CEO: Vishal Sikka What was difficult to deal with was continuous allegations and continuous noise around the same thing: Vishal Sikka At a point you realise it's taking a heavy toll on the organisation and personally so I felt it's an untenable situation: Vishal Sikka In many ways it is a sad day, but in many ways it might help things: Vishal Sikka Anguished by allegations, tone and tenor of statements made by Infosys board, below my dignity to respond to baseless insinuations: N R Narayana Murthy I started more than 3 years ago on this journey, I am proud of the results we achieved: Vishal Sikka

Live: Vishal Sikka speaks to media after resignation

Apple will&nbsp;soon introduce a third version of the Apple Watch. The release date of which may come out soon with the launch of Apple iPhone 8 in September.&nbsp;

Apple launched its first generation watch in April 2015, while the second generation came out in September 2016.&nbsp;

The third version of the Apple watch is expected to come up with a slew of new features. An internet radio chip, that will allow the watch to work on its own, reducing the dependence on Apple handsets.&nbsp;

The newly designed watch will include a camera, an enhanced battery and an improved internal speed.&nbsp;

The watch is expected to have&nbsp;the latest software version watchOS 4, it&nbsp;will also be equipped with the <a href="http://www.wionews.com/business-economy/apple-homepad-to-hit-the-markets-soon-19111">Apple&#39;s Siri feature</a>s.&nbsp;

The Apple 3 series watch in the UK will be priced at 369 pounds for the 38mm model, while 399 pounds for the 42mm, which is the current price of the Series 2 watches. However, there is also a possibility that the new model is priced at a higher rate.

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The release date of which may come out soon with the launch of Apple iPhone 8 in September.?

Apple will soon introduce a third version of the Apple Watch. The release date of which may come out soon with the launch of Apple iPhone 8 in September. Apple launched its first generation watch in April 2015, while the second generation came out in September 2016. The third version of the Apple watch is expected to come up with a slew of new features. An internet radio chip, that will allow the watch to work on its own, reducing the dependence on Apple handsets. The newly designed watch will include a camera, an enhanced battery and an improved internal speed. The watch is expected to have the latest software version watchOS 4, it will also be equipped with the Apple's Siri features. The Apple 3 series watch in the UK will be priced at 369 pounds for the 38mm model, while 399 pounds for the 42mm, which is the current price of the Series 2 watches. However, there is also a possibility that the new model is priced at a higher rate.

Apple's third generation watch to be out soon