A racoon became a media star in Germany on Saturday (December 7) after it was spotted near a Christmas market in what witnesses described as a "drunken" state.

Was dazed and confused German racoon drunk before being shot dead?

After globalisation, trends show that foreign investors gravitate towards emerging markets and India is no exception. Since investors buy when prices are low and sell after prices increase, India’s entrepreneurship boom has attracted massive foreign investment. This, in turn, has increased liquidity in local markets and expanded India’s investor base overall.&nbsp;

Great news. Now there is a bigger question. Many critics state that this is just a temporary ‘surge’ and this amount of foreign investment will not last for long, particularly during economic slowdowns. However, there are ways that the central government can ensure that foreign investment can be long-term. Looking at some of the major determinants for current foreign investment may help give a clearer indication of what can be done for guaranteed longstanding foreign investment in the country. &nbsp;

Volatility

A major determinant of foreign investment is volatility in the Indian capital market. While volatility introduces risk for investors, it also potentially means superior returns. Experts have quoted many factors for volatility in India including the US ripple effect, a fiscal slippage (in terms of deficit target), a rise in crude oil prices (India is highly dependent on oil for its energy; rises negatively affect the entire country) and new budget proposals (especially with India’s budget session coming up in the next few weeks). Despite this, foreign investors are attracted because India proves to be a prime example of a pre-downturn emerging market. With its young population and a strong GDP, India is by far the world’s fastest-growing economy. Another strong reason attracting foreign investors is aggressive action by the Narendra Modi government. The Modi 1.0 and 2.0 government have shown that the Centre is looking at long term economic well-being and not short term gain for political capital. For example, India is the only emerging market that pays for its commodities (ie. oil) abroad in local rupees rather than using the US dollar. This means that India’s capital investment, even in the future, is not dependant on the US dollar. &nbsp;&nbsp;

The amount of foreign investment looks fantastic in the short term. In order to maintain a high level of overseas investment in India consistently, the government can take several steps to maximize long term gain. One idea is to enforce more specific regulations like applying a selective control measure for foreign investment flow. Tax measures would also keep attracting investors, especially during economic growth slowdowns. Additionally, appropriate policy rules and regulations would also prevent existing foreign companies and MNCs in India to dominate retail trade.&nbsp;

This, in turn, would encourage Indian start-ups to enter the playing field which also keeps investors interested. &nbsp;

Easing Restrictions

Another way to ensure long term foreign investment is to ease restrictions on FDI by joint ventures as well as owned subsidiaries of Indian companies. The existing legal framework under Foreign Exchange Management Act (FEMA) does not allow for FDI by an overseas joint venture or Indian wholly-owned subsidiary without RBI approval. There are also restrictions on Indian firms investing overseas in foreign firms. Overseas direct investment is crucial, especially in times of economic growth slowdown and a lack of investment by the Indian corporate sector. This would help increase foreign funds into Indian business activities. India’s investment in foreign entities would also lead to long term interests overseas which in turn helps foreign investment flow in. &nbsp;

Market Capitalisation

The capitalisation of publicly traded companies is another major determinant of foreign investment flow because it increases it. This capitalisation is important to long term because, over time, a firm increases good performance and an increase in employees. Market capitalisation can also positively and significantly impact GDP growth. But for this, India needs more clarity. Many market experts blame weak availability of domestic data as a huge blow to the stock market. To add to that, the weakening of the Indian rupee, over-taxing foreign portfolio investors and poor corporate earnings also contribute to weaker market sentiment. &nbsp;

Continued focus should be given by the government on a stock market that aims for economic development. This would help attract long term foreign investment. Examples of this are agriculture, green energy and aviation. A controlled and consistent Indian capital market would be irresistible to international portfolio investors. Development based investment is also generally aimed for long term gain and would, therefore, be mutually beneficial for India as well as for overseas investors.&nbsp; &nbsp; 
 
Conclusion

Of course, there are other determinants for foreign investment in India including unforeseen circumstances that can potentially occur. But it is promising to note that the central government is focusing on long term economic stability versus short term gains. For example, this can be seen with PM Narendra Modi’s aggressive focus on development via infrastructure, aviation, diversifying exports, expanding foreign policy, health-care, education, etc. Continued progress at the grassroots level through projects like the Awas Yojana, Ujjwala Yojana and Ayushman Bharat also eventually help the economy by developing the country. &nbsp;

Eventually, as the market becomes regulated with active foreign investors, financial policies should focus on allocating resources and maintaining a healthy financial market. With patience comes great things. As a young, working professional in India, I would rather take a few economic road bumps now in order to gain a strong, diversified and stable market in the near future. It is sad that critics and even experts in the field do not share this patience. Rather, they choose to publish their stances only considering short term conditions. &nbsp;

&nbsp;(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

After globalisation, trends show that foreign investors gravitate towards emerging markets and India is no exception. Since investors buy when prices are low and sell after prices increase, India’s entrepreneurship boom has attracted massive foreign investment.

After globalisation, trends show that foreign investors gravitate towards emerging markets and India is no exception. Since investors buy when prices are low and sell after prices increase, India’s entrepreneurship boom has attracted massive foreign investment. This, in turn, has increased liquidity in local markets and expanded India’s investor base overall. Great news. Now there is a bigger question. Many critics state that this is just a temporary ‘surge’ and this amount of foreign investment will not last for long, particularly during economic slowdowns. However, there are ways that the central government can ensure that foreign investment can be long-term. Looking at some of the major determinants for current foreign investment may help give a clearer indication of what can be done for guaranteed longstanding foreign investment in the country. Volatility A major determinant of foreign investment is volatility in the Indian capital market. While volatility introduces risk for investors, it also potentially means superior returns. Experts have quoted many factors for volatility in India including the US ripple effect, a fiscal slippage (in terms of deficit target), a rise in crude oil prices (India is highly dependent on oil for its energy; rises negatively affect the entire country) and new budget proposals (especially with India’s budget session coming up in the next few weeks). Despite this, foreign investors are attracted because India proves to be a prime example of a pre-downturn emerging market. With its young population and a strong GDP, India is by far the world’s fastest-growing economy. Another strong reason attracting foreign investors is aggressive action by the Narendra Modi government. The Modi 1.0 and 2.0 government have shown that the Centre is looking at long term economic well-being and not short term gain for political capital. For example, India is the only emerging market that pays for its commodities (ie. oil) abroad in local rupees rather than using the US dollar. This means that India’s capital investment, even in the future, is not dependant on the US dollar. The amount of foreign investment looks fantastic in the short term. In order to maintain a high level of overseas investment in India consistently, the government can take several steps to maximize long term gain. One idea is to enforce more specific regulations like applying a selective control measure for foreign investment flow. Tax measures would also keep attracting investors, especially during economic growth slowdowns. Additionally, appropriate policy rules and regulations would also prevent existing foreign companies and MNCs in India to dominate retail trade. This, in turn, would encourage Indian start-ups to enter the playing field which also keeps investors interested. Easing Restrictions Another way to ensure long term foreign investment is to ease restrictions on FDI by joint ventures as well as owned subsidiaries of Indian companies. The existing legal framework under Foreign Exchange Management Act (FEMA) does not allow for FDI by an overseas joint venture or Indian wholly-owned subsidiary without RBI approval. There are also restrictions on Indian firms investing overseas in foreign firms. Overseas direct investment is crucial, especially in times of economic growth slowdown and a lack of investment by the Indian corporate sector. This would help increase foreign funds into Indian business activities. India’s investment in foreign entities would also lead to long term interests overseas which in turn helps foreign investment flow in. Market Capitalisation The capitalisation of publicly traded companies is another major determinant of foreign investment flow because it increases it. This capitalisation is important to long term because, over time, a firm increases good performance and an increase in employees. Market capitalisation can also positively and significantly impact GDP growth. But for this, India needs more clarity. Many market experts blame weak availability of domestic data as a huge blow to the stock market. To add to that, the weakening of the Indian rupee, over-taxing foreign portfolio investors and poor corporate earnings also contribute to weaker market sentiment. Continued focus should be given by the government on a stock market that aims for economic development. This would help attract long term foreign investment. Examples of this are agriculture, green energy and aviation. A controlled and consistent Indian capital market would be irresistible to international portfolio investors. Development based investment is also generally aimed for long term gain and would, therefore, be mutually beneficial for India as well as for overseas investors. Conclusion Of course, there are other determinants for foreign investment in India including unforeseen circumstances that can potentially occur. But it is promising to note that the central government is focusing on long term economic stability versus short term gains. For example, this can be seen with PM Narendra Modi’s aggressive focus on development via infrastructure, aviation, diversifying exports, expanding foreign policy, health-care, education, etc. Continued progress at the grassroots level through projects like the Awas Yojana, Ujjwala Yojana and Ayushman Bharat also eventually help the economy by developing the country. Eventually, as the market becomes regulated with active foreign investors, financial policies should focus on allocating resources and maintaining a healthy financial market. With patience comes great things. As a young, working professional in India, I would rather take a few economic road bumps now in order to gain a strong, diversified and stable market in the near future. It is sad that critics and even experts in the field do not share this patience. Rather, they choose to publish their stances only considering short term conditions. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Ensuring long term foreign investment in India

<a href="https://www.wionews.com/business-economy/tata-steel-plans-to-cut-jobs-across-european-operations-262953">Tata&nbsp;Steel plans to cut</a> up to 3,000 jobs across its European operations, the company said on Monday, as the sector wrestles with excess supply, weak demand and high costs.

Earlier, a source close to the discussions told Reuters around 3,000 people would be affected after the group's European chief executive Henrik Adam said&nbsp;Tata&nbsp;was planning to announce job cuts across the European business without giving figures.

In a statement,&nbsp;Tata&nbsp;said it was urgently seeking to improve performance by increasing sales of higher value products, efficiency gains and reducing employment costs by cutting employee numbers by up to 3,000 across its European operations.

Around two-thirds of the job losses are expected to be office-based roles, it said.

Indian-owned&nbsp;Tata&nbsp;Steel, which launched a transformation programme in June to strengthen its European business, has operations including steelmaking in the Netherlands and Wales and downstream operations across Europe.

There will be no plant closures,&nbsp;Tata&nbsp;said, adding the aim was to shield&nbsp;Tata&nbsp;Steel Europe from challenges, such as weak demand, excess capacity and trade issues, and to become cash positive by the end of its financial year ending March 2021.

European steelmakers largely blame China for the extent of a surplus in the market, but the world's biggest steelmaker says it has made its own deep cuts to capacity.

Tata's quest to boost profitability follows a European anti-trust decision to block a joint venture with Germany's Thyssenkrupp.

Tata&nbsp;said in a statement challenging market conditions had been made "worse by the use of Europe as a dumping ground for the world's excess capacity".

In the first six months of its financial year starting April 2019,&nbsp;<a href="https://www.wionews.com/business-economy/tata-steel-reports-rs-3302-crore-q2-profit-260445">Tata&nbsp;Steel</a> Europe reported a drop of 90 per cent&nbsp;in EBITDA (earnings before interest, tax, depreciation and amortisation).

Britain last week said Chinese steelmaker Jingye has signed a provisional deal to buy British Steel, which went into compulsory liquidation in May.

The agreement is politically resonant ahead of British elections as job opportunities have become a major issue. If confirmed, the rescue could save thousands of jobs.

ArcelorMittal, the world's biggest steelmaker, has idled a series of plants across Europe.

Eurofer, which represents the European steel industry, said in an email job losses were "a worrying and upsetting trend" caused by global overcapacity and hesitant demand.

It urged EU policymakers "to help stabilise the EU market by warding off import surges and supporting vital steel sector workers during this challenging period".

Tata Steel plans to cut up to 3,000 jobs across its European operations, the company said on Monday, as the sector wrestles with excess supply, weak demand and high costs.

Tata Steel plans to cut up to 3,000 jobs across its European operations, the company said on Monday, as the sector wrestles with excess supply, weak demand and high costs. Earlier, a source close to the discussions told Reuters around 3,000 people would be affected after the group's European chief executive Henrik Adam said Tata was planning to announce job cuts across the European business without giving figures. In a statement, Tata said it was urgently seeking to improve performance by increasing sales of higher value products, efficiency gains and reducing employment costs by cutting employee numbers by up to 3,000 across its European operations. Around two-thirds of the job losses are expected to be office-based roles, it said. Indian-owned Tata Steel, which launched a transformation programme in June to strengthen its European business, has operations including steelmaking in the Netherlands and Wales and downstream operations across Europe. There will be no plant closures, Tata said, adding the aim was to shield Tata Steel Europe from challenges, such as weak demand, excess capacity and trade issues, and to become cash positive by the end of its financial year ending March 2021. European steelmakers largely blame China for the extent of a surplus in the market, but the world's biggest steelmaker says it has made its own deep cuts to capacity. Tata's quest to boost profitability follows a European anti-trust decision to block a joint venture with Germany's Thyssenkrupp. Tata said in a statement challenging market conditions had been made "worse by the use of Europe as a dumping ground for the world's excess capacity". In the first six months of its financial year starting April 2019, Tata Steel Europe reported a drop of 90 per cent in EBITDA (earnings before interest, tax, depreciation and amortisation). Britain last week said Chinese steelmaker Jingye has signed a provisional deal to buy British Steel, which went into compulsory liquidation in May. The agreement is politically resonant ahead of British elections as job opportunities have become a major issue. If confirmed, the rescue could save thousands of jobs. ArcelorMittal, the world's biggest steelmaker, has idled a series of plants across Europe. Eurofer, which represents the European steel industry, said in an email job losses were "a worrying and upsetting trend" caused by global overcapacity and hesitant demand. It urged EU policymakers "to help stabilise the EU market by warding off import surges and supporting vital steel sector workers during this challenging period".

Tata Steel plans to cut up to 3,000 European jobs due to excess supply, meagre demand

Asian&nbsp;stocks&nbsp;fell on Thursday after soft economic data in China and Japan showed the <a href="https://www.wionews.com/.../trade-truce-unlikely-in-2020-but-us-recession- fears-recede-economists-reuters-poll-261987">trade war</a> between Beijing and Washington hitting&nbsp;growth&nbsp;in some of the world's biggest economies.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent. Japan's Nikkei stock index fell further, dropping 0.8 per cent.

Australia's S&amp;P/ASX200 wiped earlier gains to close 0.5 per cent&nbsp;higher, while Shanghai blue chips trod water, supported by expectations the gloomy figures would add to the case for stimulus.

European stock futures point to a flat open after recent rises. US&nbsp;futures were down 0.1 per cent, following a record-high close on the S&amp;P 500 on Wednesday.

China's&nbsp;industrial production&nbsp;growth&nbsp;slowed sharply in October, with the 4.7 per cent&nbsp;year-on-year rise well below forecasts for 5.4 per cent. Investment&nbsp;growth&nbsp;hit a record low and retail sales also missed expectations.

"The weakness in investment and production would suggest that confidence is down," said Shane Oliver, chief economist at AMP Capital in Sydney.

"It puts more pressure on Chinese authorities to come to a deal with <a href="https://www.wionews.com/.../garbage-dropped-by-china-india-and-russia- into-the-sea-floats-into-los-angeles-trump-261937">Donald Trump</a><a href="https://www.wionews.com/.../trump-says-china-trade-deal-close-but-dashes- hopes-for-signing-details-261767"> on trade</a>, just as President Trump's desire to be re-elected puts pressure on him to come to a deal."

The weak figures also come as market confidence toward a resolution weakens, with a new Reuters poll showing most economists do not expect Washington and Beijing to strike a permanent truce over the coming year.

Trump offered no update on the progress of negotiations in a policy speech on Tuesday. The Wall Street Journal reported on Wednesday that talks had snagged on farm purchases.

Meanwhile, the&nbsp;global&nbsp;fallout from the dispute is widening.

Data due at 0700 GMT will reveal whether Germany has entered a technical recession, as forecast.

Japan's economic&nbsp;growth&nbsp;hit its slowest pace in a year in the third quarter as soft demand knocked exports.

"Looking around the region, you've had some near misses of recession - Korea's been one, Singapore's also been one and you've got Hong Kong in a recession at the moment," said Sean Darby,&nbsp;global&nbsp;equity strategist at Jefferies in Hong Kong.

"So it's not great. It's not a cycle that is not leaving any scars," he said.

Worries about spiralling violence as <a href="https://www.wionews.com/.../protesters-block-central-hong-kong-streets-as- chaos-grips-city-261782">anti-government protests</a> intensify in Hong Kong have also soured investor sentiment.

Protesters paralysed parts of Hong Kong for a fourth day on Thursday, forcing school closures and blocking highways and other transport links in a marked escalation of unrest in the financial hub.

Hong Kong's Hang Seng fell 0.8 per cent on&nbsp;Thursday to a fresh one-month low.

In currency&nbsp;markets, safe havens such as the Japanese yen and Swiss franc held on to gains.

The yen was quoted at 108.70 per dollar, close to a one-week high. The Swiss franc traded at 0.9900 versus the greenback, near the highest in more than a week.

The Australian dollar skidded to a one-month low on Thursday after a worryingly weak reading on employment re-ignited speculation about another cut in interest rates.

Brent crude futures rose 0.6 per cent&nbsp;to $62.76 a barrel while US&nbsp;West Texas Intermediate (WTI) crude gained 0.63 per cent&nbsp;to $57.48 per barrel.

The yield on benchmark 10-year Treasury notes rose to 1.8652 percent&nbsp;compared with its US&nbsp;close of 1.869 per cent&nbsp;on Wednesday.

Asian stocks fell on Thursday after soft economic data in China and Japan showed the trade war between Beijing and Washington hitting growth in some of the world's biggest economies.

Asian stocks fell on Thursday after soft economic data in China and Japan showed the trade war between Beijing and Washington hitting growth in some of the world's biggest economies. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent. Japan's Nikkei stock index fell further, dropping 0.8 per cent. Australia's S&P/ASX200 wiped earlier gains to close 0.5 per cent higher, while Shanghai blue chips trod water, supported by expectations the gloomy figures would add to the case for stimulus. European stock futures point to a flat open after recent rises. US futures were down 0.1 per cent, following a record-high close on the S&P 500 on Wednesday. China's industrial production growth slowed sharply in October, with the 4.7 per cent year-on-year rise well below forecasts for 5.4 per cent. Investment growth hit a record low and retail sales also missed expectations. "The weakness in investment and production would suggest that confidence is down," said Shane Oliver, chief economist at AMP Capital in Sydney. "It puts more pressure on Chinese authorities to come to a deal with Donald Trump on trade, just as President Trump's desire to be re-elected puts pressure on him to come to a deal." The weak figures also come as market confidence toward a resolution weakens, with a new Reuters poll showing most economists do not expect Washington and Beijing to strike a permanent truce over the coming year. Trump offered no update on the progress of negotiations in a policy speech on Tuesday. The Wall Street Journal reported on Wednesday that talks had snagged on farm purchases. Meanwhile, the global fallout from the dispute is widening. Data due at 0700 GMT will reveal whether Germany has entered a technical recession, as forecast. Japan's economic growth hit its slowest pace in a year in the third quarter as soft demand knocked exports. "Looking around the region, you've had some near misses of recession - Korea's been one, Singapore's also been one and you've got Hong Kong in a recession at the moment," said Sean Darby, global equity strategist at Jefferies in Hong Kong. "So it's not great. It's not a cycle that is not leaving any scars," he said. Worries about spiralling violence as anti-government protests intensify in Hong Kong have also soured investor sentiment. Protesters paralysed parts of Hong Kong for a fourth day on Thursday, forcing school closures and blocking highways and other transport links in a marked escalation of unrest in the financial hub. Hong Kong's Hang Seng fell 0.8 per cent on Thursday to a fresh one-month low. In currency markets, safe havens such as the Japanese yen and Swiss franc held on to gains. The yen was quoted at 108.70 per dollar, close to a one-week high. The Swiss franc traded at 0.9900 versus the greenback, near the highest in more than a week. The Australian dollar skidded to a one-month low on Thursday after a worryingly weak reading on employment re-ignited speculation about another cut in interest rates. Brent crude futures rose 0.6 per cent to $62.76 a barrel while US West Texas Intermediate (WTI) crude gained 0.63 per cent to $57.48 per barrel. The yield on benchmark 10-year Treasury notes rose to 1.8652 percent compared with its US close of 1.869 per cent on Wednesday.

Asian stocks retreat as China's growth slowdown deepens

In an effort to normalise their bilateral relationship, Pakistan and Afghanistan on Monday decided to form a technical committee to "solve" their "problems and issues related to Afghan market" in Peshawar.

The decision was taken during the meeting between Afghanistan National Security Advisor Hamdullah Mohib and Inter-Services Intelligence (ISI) chief General Faiz Hameed."NSA @hmohib met w/ Faiz Hameed Director General&nbsp;of Inter-Services Intelligence and Suhail Mahmood Foreign Secretary of Pakistan. They talked over efforts to normalize Afghan-Pak relations, the formation of a technical committee to solve the problems &amp; issue of Afghan Market in Peshawar," Hamdullah Mohib`s spokesperson Kabir Haqmal tweeted.

The Hameed-led delegation reached Kabul to discuss the escalation of tension between the two countries after Pakistani policemen raided Afghan market in Peshawar last month. In protest, Afghanistan has closed its consulate in Peshawar.

Kabul has accused Pakistani police of repeatedly attacking the Afghan market and taking down the Afghan national flag. "Many soldiers came here, acting like terrorists. This is not acceptable. This is not good for improving relations between the two countries," Afghan Ambassador to Pakistan Shukrullah Atif Mashal had said on October 12.

The Afghan Consulate claims the Afghan Market as a property of the Afghan government. However, reports suggest that there is another claimant to the property.Meanwhile, protests took place in front of the Pakistan Embassy in Kabul.

The protesters chanted slogans against Pakistan with some of them saying that "our flag is our national identity, no one can disrespect our identity. "Making the matter worse, Pakistan Foreign Office, early this month, had summoned the Afghan envoy to convey its concerns over the safety and security of its diplomatic personnel.

On November 4, Afghanistan had objected to the summoning of its charge d`affaires by Pakistan`s Foreign Ministry over the harassment claims made by Pakistani diplomats working in the country`s embassy in Kabul.

A statement by Afghan Ministry of Foreign Affairs on last Monday had said: "Ministry of Foreign Affairs of the Islamic Republic of Afghanistan expresses its severe objection and deepest concern over the summoning of the Ambassador of the Islamic Republic of Afghanistan to Islamabad by Pakistan`s Inter-Service Intelligence (ISI) and the misconduct of the entity`s personnel, and deems this action in clear contradiction with diplomatic norms and principles."

In an effort to normalise their bilateral relationship, Pakistan and Afghanistan on Monday decided to form a technical committee to "solve" their "problems and issues related to Afghan market" in Peshawar.

In an effort to normalise their bilateral relationship, Pakistan and Afghanistan on Monday decided to form a technical committee to "solve" their "problems and issues related to Afghan market" in Peshawar. The decision was taken during the meeting between Afghanistan National Security Advisor Hamdullah Mohib and Inter-Services Intelligence (ISI) chief General Faiz Hameed."NSA @hmohib met w/ Faiz Hameed Director General of Inter-Services Intelligence and Suhail Mahmood Foreign Secretary of Pakistan. They talked over efforts to normalize Afghan-Pak relations, the formation of a technical committee to solve the problems & issue of Afghan Market in Peshawar," Hamdullah Mohib`s spokesperson Kabir Haqmal tweeted. The Hameed-led delegation reached Kabul to discuss the escalation of tension between the two countries after Pakistani policemen raided Afghan market in Peshawar last month. In protest, Afghanistan has closed its consulate in Peshawar. Kabul has accused Pakistani police of repeatedly attacking the Afghan market and taking down the Afghan national flag. "Many soldiers came here, acting like terrorists. This is not acceptable. This is not good for improving relations between the two countries," Afghan Ambassador to Pakistan Shukrullah Atif Mashal had said on October 12. The Afghan Consulate claims the Afghan Market as a property of the Afghan government. However, reports suggest that there is another claimant to the property.Meanwhile, protests took place in front of the Pakistan Embassy in Kabul. The protesters chanted slogans against Pakistan with some of them saying that "our flag is our national identity, no one can disrespect our identity. "Making the matter worse, Pakistan Foreign Office, early this month, had summoned the Afghan envoy to convey its concerns over the safety and security of its diplomatic personnel. On November 4, Afghanistan had objected to the summoning of its charge d`affaires by Pakistan`s Foreign Ministry over the harassment claims made by Pakistani diplomats working in the country`s embassy in Kabul. A statement by Afghan Ministry of Foreign Affairs on last Monday had said: "Ministry of Foreign Affairs of the Islamic Republic of Afghanistan expresses its severe objection and deepest concern over the summoning of the Ambassador of the Islamic Republic of Afghanistan to Islamabad by Pakistan`s Inter-Service Intelligence (ISI) and the misconduct of the entity`s personnel, and deems this action in clear contradiction with diplomatic norms and principles."

Pakistan, Afghanistan to form technical committee to 'solve' market-related issues in Peshawar

A massive fire has engulfed Central Market in Lagos, Nigeria. Cause of the fire not ascertained yet.

Massive fire in Central Market in Lagos

From the streets of <a href="https://www.wionews.com/world/chile-president-lifts-state-of-emergency-protests-continue-258441">Santiago and Quito</a> to the ballot boxes of Buenos Aires, many South Americans have strongly rejected in recent weeks their leaders' free-market agendas, amid outcry that they are fueling inequality across the region.

With economic growth slowing sharply, job security fraying and holes in social safety nets widening, a wave of protest has arisen, spanning millions of people across the continent.

The end of the 'pink tide' of leftist leaders that swept Latin America in the 2000s gave way in recent years to a series of more broadly conservative governments.

But while each country has its own issues, there has been a common backlash against the "market-friendly" policies pursued by some of those governments,&nbsp;such as the privatising of state assets, reduction of public subsidies, and exposure of more aspects of society to market forces.

In Chile, which introduced market reforms long before the rest of the region and is seen by many as a poster child of neoliberalism, some 1 million people marched on Friday to protest the conservative economic agenda of billionaire President Sebastian Pinera, the largest protest since the country's return to democracy in 1990.

That followed a week of riots in which at least 18 people were killed. The unrest began after the government raised the price of metro fares, but reflected long-simmering anger at its failure to alter Chile's economic course despite growing inequality.

"There are two Chiles here. The Chile of people with money, and the Chile of the poor," said Nathaly Melendez, 28, a manicurist in Santiago. "If you don't have money, you have to wait in long lines for healthcare, education is terrible, students are all in debt."

<a href="https://www.wionews.com/world/chilean-president-vows-major-reshuffle-after-week-of-protests-258314">The protests in Chile</a> came hot on the heels of violent demonstrations in Ecuador sparked by a proposed cut to decades-old fuel subsidies, which forced the government to temporarily relocate the capital to Guayaquil.

And in perhaps the most emphatic rejection of austerity and business-friendly reforms, Argentine voters on Sunday removed conservative President Mauricio Macri in favour of Peronist Alberto Fernandez - a landslide backing for a decidedly more protectionist agenda.

Branko Milanovic, visiting professor at The City University of New York and an expert on inequality, said the uneven effects of globalisation had sown discontent in Latin America.

Globalisation in recent decades brought a surge in low-cost products from emerging countries like China and expanded the export markets for Latin America's commodities, helping to fuel economic growth, but many across the region feel the rewards have accrued mostly to the wealthy.

By some measures, Chile is one of the most unequal countries in Latin America, though it also has the highest average income. According to Milanovic, the combined wealth of Chilean billionaires in 2015 was equal to a quarter of gross domestic product - the highest in the world, excluding tax havens like Cyprus, and around double the level of Mexico and Peru.

"If there is no social justice and minimum of social cohesion, the effects of growth will dissolve in grief, demonstrations, and yes, in the shooting of people," Milanovic wrote.

Leftist leaders have been galvanized by the backlash. Evo Morales, Bolivia's socialist leader now facing widespread protests after a disputed election win this month, has looked to rally his supporters with warnings about the return of neoliberalism should he lose power.

Creomar De Souza, the founder of Brasilia-based consultancy Dharma Political Risk And Strategy, said the longer-term policy impact of the upheavals was not yet clear.

"But in some of these countries, Argentina and maybe Bolivia, the economy will take a more heterodox turn, with a greater role for the state," De Souza said. "Pinera will try to endorse some social reforms in Chile, but the legitimacy of that generation of politicians is under threat." 
 
People getting poorer

The unrest coincides with a slide in Latin American economic growth in the wake of a long <a href="https://www.wionews.com/world/one-million-chileans-march-in-santiago-city-grinds-to-halt-258235">commodities-driven boom</a>. The International Monetary Fund this month slashed its growth forecasts for the region this year to a dismal 0.2 per cent,&nbsp;the second-lowest rate in the world, behind the Middle East and North Africa's 0.1 per cent.

While many people globally feel poorer as the world economy slows, in Latin America it is actually true, according to World Bank figures.

The Bank uses a variety of measures to track GDP per capita, depending on exchange rate fluctuations, and most of them suggest it is lower in the region today than it was five years ago.

According to its measure using current US&nbsp;dollars, GDP per capita in Latin America last year was $9,023, down 13 per cent&nbsp;from the peak of $10,405 in 2014.

The process is not helped by the government's efforts in countries like Argentina, Chile and Brazil to reduce budget deficits.

Ana Lia Agullo, a 69-year old retiree in Buenos Aires, said Argentina's new government needed to refocus on employment, health and education, "the pillars of every society."

"It's totally different from Macri's supposed model, which is obviously not a model at all but rather a big-business trick typical of people belonging to his class," she said.

Moody's warned that social pressure would likely also force Pinera to ease efforts to reduce the deficit and stop Chile's debt growing.

Opposition to Chile's direction may be of particular interest for Brazil watchers, given that Economy Minister Paulo Guedes is a devotee of its economic model.

An orthodox University of Chicago-trained economist, Guedes failed in his attempt to introduce a pension system in Brazil based on the Chilean model of private savings accounts,&nbsp;though his reform, passed this month, will save the public purse $200 billion&nbsp;over the next decade by raising the minimum retirement age and increasing workers' contributions.

The remainder of his reform agenda, which includes labour market deregulation and ramping up privatisation, may face increased political resistance.

Memories linger of Brazil's brutal recession in 2015-16 as well as last year's truckers' strike over diesel price hikes that brought the country to a standstill. So far, there is no sign of people taking to the streets again in Brazil, but the political mood appears to be turning against Guedes' agenda.

Centre-right lawmaker Marcelo Ramos said Brazil needed investment to grow again, but it also needed to tackle inequality.

The inequality "keeps millions of Brazilians from being consumers and demands heavy social spending on unemployed, discouraged and underutilised workers," he said.

From the streets of Santiago and Quito to the ballot boxes of Buenos Aires, many South Americans have strongly rejected in recent weeks their leaders' free-market agendas, amid outcry that they are fueling inequality across the region.

From the streets of Santiago and Quito to the ballot boxes of Buenos Aires, many South Americans have strongly rejected in recent weeks their leaders' free-market agendas, amid outcry that they are fueling inequality across the region. With economic growth slowing sharply, job security fraying and holes in social safety nets widening, a wave of protest has arisen, spanning millions of people across the continent. The end of the 'pink tide' of leftist leaders that swept Latin America in the 2000s gave way in recent years to a series of more broadly conservative governments. But while each country has its own issues, there has been a common backlash against the "market-friendly" policies pursued by some of those governments, such as the privatising of state assets, reduction of public subsidies, and exposure of more aspects of society to market forces. In Chile, which introduced market reforms long before the rest of the region and is seen by many as a poster child of neoliberalism, some 1 million people marched on Friday to protest the conservative economic agenda of billionaire President Sebastian Pinera, the largest protest since the country's return to democracy in 1990. That followed a week of riots in which at least 18 people were killed. The unrest began after the government raised the price of metro fares, but reflected long-simmering anger at its failure to alter Chile's economic course despite growing inequality. "There are two Chiles here. The Chile of people with money, and the Chile of the poor," said Nathaly Melendez, 28, a manicurist in Santiago. "If you don't have money, you have to wait in long lines for healthcare, education is terrible, students are all in debt." The protests in Chile came hot on the heels of violent demonstrations in Ecuador sparked by a proposed cut to decades-old fuel subsidies, which forced the government to temporarily relocate the capital to Guayaquil. And in perhaps the most emphatic rejection of austerity and business-friendly reforms, Argentine voters on Sunday removed conservative President Mauricio Macri in favour of Peronist Alberto Fernandez - a landslide backing for a decidedly more protectionist agenda. Branko Milanovic, visiting professor at The City University of New York and an expert on inequality, said the uneven effects of globalisation had sown discontent in Latin America. Globalisation in recent decades brought a surge in low-cost products from emerging countries like China and expanded the export markets for Latin America's commodities, helping to fuel economic growth, but many across the region feel the rewards have accrued mostly to the wealthy. By some measures, Chile is one of the most unequal countries in Latin America, though it also has the highest average income. According to Milanovic, the combined wealth of Chilean billionaires in 2015 was equal to a quarter of gross domestic product - the highest in the world, excluding tax havens like Cyprus, and around double the level of Mexico and Peru. "If there is no social justice and minimum of social cohesion, the effects of growth will dissolve in grief, demonstrations, and yes, in the shooting of people," Milanovic wrote. Leftist leaders have been galvanized by the backlash. Evo Morales, Bolivia's socialist leader now facing widespread protests after a disputed election win this month, has looked to rally his supporters with warnings about the return of neoliberalism should he lose power. Creomar De Souza, the founder of Brasilia-based consultancy Dharma Political Risk And Strategy, said the longer-term policy impact of the upheavals was not yet clear. "But in some of these countries, Argentina and maybe Bolivia, the economy will take a more heterodox turn, with a greater role for the state," De Souza said. "Pinera will try to endorse some social reforms in Chile, but the legitimacy of that generation of politicians is under threat." People getting poorer The unrest coincides with a slide in Latin American economic growth in the wake of a long commodities-driven boom. The International Monetary Fund this month slashed its growth forecasts for the region this year to a dismal 0.2 per cent, the second-lowest rate in the world, behind the Middle East and North Africa's 0.1 per cent. While many people globally feel poorer as the world economy slows, in Latin America it is actually true, according to World Bank figures. The Bank uses a variety of measures to track GDP per capita, depending on exchange rate fluctuations, and most of them suggest it is lower in the region today than it was five years ago. According to its measure using current US dollars, GDP per capita in Latin America last year was $9,023, down 13 per cent from the peak of $10,405 in 2014. The process is not helped by the government's efforts in countries like Argentina, Chile and Brazil to reduce budget deficits. Ana Lia Agullo, a 69-year old retiree in Buenos Aires, said Argentina's new government needed to refocus on employment, health and education, "the pillars of every society." "It's totally different from Macri's supposed model, which is obviously not a model at all but rather a big-business trick typical of people belonging to his class," she said. Moody's warned that social pressure would likely also force Pinera to ease efforts to reduce the deficit and stop Chile's debt growing. Opposition to Chile's direction may be of particular interest for Brazil watchers, given that Economy Minister Paulo Guedes is a devotee of its economic model. An orthodox University of Chicago-trained economist, Guedes failed in his attempt to introduce a pension system in Brazil based on the Chilean model of private savings accounts, though his reform, passed this month, will save the public purse $200 billion over the next decade by raising the minimum retirement age and increasing workers' contributions. The remainder of his reform agenda, which includes labour market deregulation and ramping up privatisation, may face increased political resistance. Memories linger of Brazil's brutal recession in 2015-16 as well as last year's truckers' strike over diesel price hikes that brought the country to a standstill. So far, there is no sign of people taking to the streets again in Brazil, but the political mood appears to be turning against Guedes' agenda. Centre-right lawmaker Marcelo Ramos said Brazil needed investment to grow again, but it also needed to tackle inequality. The inequality "keeps millions of Brazilians from being consumers and demands heavy social spending on unemployed, discouraged and underutilised workers," he said.

Protests, elections show Latin America tide turning against pro-market agenda

Equity markets traded with a negative bias throughout the trading session on Thursday and closed in the red as profit booking weighed in.

The BSE S&amp;P Sensex closed 199 points or 0.5 per cent lower at 38,107 while the Nifty 50 slid by 47 points to 11,313.

At the National Stock Exchange (NSE), most sectoral indices were in the red except for auto, media, PSU bank, and realty.

The nifty metal was down by 3 per cent, financial service by 1.1 per cent and private bank by 1.02 per cent.

But among stocks, <a href="https://www.wionews.com/business-economy/sensex-nifty-slip-as-united-states-widens-trade-war-to-europe-yes-bank-recovers-253385">Yes Bank</a>&nbsp;rose by 33.59 per cent to Rs 42.75 per share after Managing Director and CEO Ravneet Gill had a conference call with investors and analysts to assure them about the bank's strong fundamentals and operating metrics.

He said that Senior Group President and Chief Financial Officer Rajat Monga has decided to quit.

The other prominent gains were Bharat Petroleum Corporation, Zee Entertainment, Tata Motors, and Indian Oil Corporation.

However, metal stocks suffered badly with Vedanta down by 4.6 per cent, Hindalco by 4 per cent and Tata Steel by 3.4 per cent.

Private banks also remained on slippery ground with the IndusInd Bank sliding by 3 per cent, Kotak Mahindra Bank by 2.1 per cent, HDFC Bank by 2 per cent and Axis Bank by 1.7 per cent.

The other prominent losers were Coal India, Grasim and UltraTech Cements.

Meanwhile, Asian stocks skidded to a one-month low after President Donald Trump's administration announced a day earlier that the United States will <a href="https://www.wionews.com/world/us-widens-trade-war-with-tariffs-on-european-planes-cheese-whisky-to-punish-subsidies-253360">impose tariffs</a> on 7.5 billion dollars of goods from the European Union.

Japanese Nikkei traded down by over 2 per cent, South Korean Kospi by 1.9 per cent and Shanghai composite index by 0.9 per cent.

Global slowdown coupled with the chaos in Hong Kong pulled down other Asian indices as well.

Equity markets traded with a negative bias throughout the trading session on Thursday and closed in the red as profit booking weighed in. The BSE S&P Sensex closed 199 points or 0.

Equity markets traded with a negative bias throughout the trading session on Thursday and closed in the red as profit booking weighed in. The BSE S&P Sensex closed 199 points or 0.5 per cent lower at 38,107 while the Nifty 50 slid by 47 points to 11,313. At the National Stock Exchange (NSE), most sectoral indices were in the red except for auto, media, PSU bank, and realty. The nifty metal was down by 3 per cent, financial service by 1.1 per cent and private bank by 1.02 per cent. But among stocks, Yes Bank rose by 33.59 per cent to Rs 42.75 per share after Managing Director and CEO Ravneet Gill had a conference call with investors and analysts to assure them about the bank's strong fundamentals and operating metrics. He said that Senior Group President and Chief Financial Officer Rajat Monga has decided to quit. The other prominent gains were Bharat Petroleum Corporation, Zee Entertainment, Tata Motors, and Indian Oil Corporation. However, metal stocks suffered badly with Vedanta down by 4.6 per cent, Hindalco by 4 per cent and Tata Steel by 3.4 per cent. Private banks also remained on slippery ground with the IndusInd Bank sliding by 3 per cent, Kotak Mahindra Bank by 2.1 per cent, HDFC Bank by 2 per cent and Axis Bank by 1.7 per cent. The other prominent losers were Coal India, Grasim and UltraTech Cements. Meanwhile, Asian stocks skidded to a one-month low after President Donald Trump's administration announced a day earlier that the United States will impose tariffs on 7.5 billion dollars of goods from the European Union. Japanese Nikkei traded down by over 2 per cent, South Korean Kospi by 1.9 per cent and Shanghai composite index by 0.9 per cent. Global slowdown coupled with the chaos in Hong Kong pulled down other Asian indices as well.

Sensex closes 199 points lower but Yes Bank jumps over 33%

Asian stock markets fell on Wednesday after US Democrats launched<a href="https://www.wionews.com/world/us-house-steps-up-donald-trump-impeachment-probe-248698"> formal impeachment</a> proceedings against Donald Trump and renewed worries about trade as the President adopted a hard line on China.

In a dramatic move, House Democratic leader Nancy Pelosi announced a formal impeachment inquiry after US markets closed.

Democrats accuse Trump of abuse of power in a reported attempt to pressure the newly installed president of Ukraine to open a corruption investigation into his lead challenger for the White House, <a href="https://www.wionews.com/world/as-feud-heats-up-donald-trump-says-joe-biden-was-subject-of-ukraine-call-251345">Joe Biden</a>, and Biden's son Hunter.

Trump denounced the inquiry as "Witch Hunt garbage" and said he would release a transcript of his phone call with Volodymyr Zelensky.

"The impeachment hearing announcement delivered a knock-out blow to stocks markets already weak at the knees," Jeffrey Halley, senior market analyst at OANDA, said in a note.

Concern over US political turmoil added to worries over international trade after Trump ripped into China at the UN, declaring that the time of Beijing's "abuses" of the system was "over."

Touting what he argued were the benefits of his <a href="https://www.wionews.com/opinions/us-china-trade-war-is-making-china-stronger-234526">tariff war with China</a>, Trump reiterated his hope that a trade agreement "beneficial to both countries" could be struck.

"But as I said very clearly, I will not accept a bad deal for the American people," he said.

"Trump's speech at the United Nations lacked any semblance of endearment towards China, but instead, he used this opportunity to reignite US-China tensions while renewing his attacks on America's largest technology companies," said Stephen Innes, Asia Pacific market strategist at AxiTrader.

Tokyo slipped 0.5 per cent, while Hong Kong and Shanghai both dropped 0.4 per cent.

Oil prices took a hit, with both main contracts down 0.6 per cent following Trump's tough talk on China and after data indicating a build-up in US crude inventories.

In currency trading, the Pound slipped against the Dollar in Asia. It had rallied Tuesday following Britain's Supreme Court ruling that Prime Minister Boris Johnson's suspension of parliament was "unlawful", providing a spark of hope that Brexit will be more orderly than previously feared.

"The ensuing British Pound rally was a bit underwhelming. It probably reflected the uncertainty of both Mr Johnson's tenure and the Brexit process with October the 31st looming," said OANDA's Halley.

&nbsp;

Asian stock markets fell on Wednesday after US Democrats launched formal impeachment proceedings against Donald Trump and renewed worries about trade as the President adopted a hard line on China.

Asian stock markets fell on Wednesday after US Democrats launched formal impeachment proceedings against Donald Trump and renewed worries about trade as the President adopted a hard line on China. In a dramatic move, House Democratic leader Nancy Pelosi announced a formal impeachment inquiry after US markets closed. Democrats accuse Trump of abuse of power in a reported attempt to pressure the newly installed president of Ukraine to open a corruption investigation into his lead challenger for the White House, Joe Biden, and Biden's son Hunter. Trump denounced the inquiry as "Witch Hunt garbage" and said he would release a transcript of his phone call with Volodymyr Zelensky. "The impeachment hearing announcement delivered a knock-out blow to stocks markets already weak at the knees," Jeffrey Halley, senior market analyst at OANDA, said in a note. Concern over US political turmoil added to worries over international trade after Trump ripped into China at the UN, declaring that the time of Beijing's "abuses" of the system was "over." Touting what he argued were the benefits of his tariff war with China, Trump reiterated his hope that a trade agreement "beneficial to both countries" could be struck. "But as I said very clearly, I will not accept a bad deal for the American people," he said. "Trump's speech at the United Nations lacked any semblance of endearment towards China, but instead, he used this opportunity to reignite US-China tensions while renewing his attacks on America's largest technology companies," said Stephen Innes, Asia Pacific market strategist at AxiTrader. Tokyo slipped 0.5 per cent, while Hong Kong and Shanghai both dropped 0.4 per cent. Oil prices took a hit, with both main contracts down 0.6 per cent following Trump's tough talk on China and after data indicating a build-up in US crude inventories. In currency trading, the Pound slipped against the Dollar in Asia. It had rallied Tuesday following Britain's Supreme Court ruling that Prime Minister Boris Johnson's suspension of parliament was "unlawful", providing a spark of hope that Brexit will be more orderly than previously feared. "The ensuing British Pound rally was a bit underwhelming. It probably reflected the uncertainty of both Mr Johnson's tenure and the Brexit process with October the 31st looming," said OANDA's Halley.

Asian markets fall as impeachment process against Donald Trump begins

Oil shed some of its massive gains on Tuesday (September 17) as the United States flagged the possible release of crude reserves, but the threat of military action over the attacks on Saudi oil facilities kept prices elevated and stocks under pressure.

Oil falls more than 1% as market awaits response to Saudi oil attacks

<a href="https://www.wionews.com/business-economy/asia-stocks-gain-as-china-rates-tweak-lifts-investor-mood-243985">China</a>'s new home prices grew at their weakest pace in nearly a year in August as a cooling economy and existing curbs on speculative buying put a dent on overall demand.

Wary of property bubbles, Chinese regulators have vowed to refrain from stimulating the real estate sector as they roll out measures to boost the broader economy hit by the Sino-US trade war and slowing consumer demand.

Average new home prices in China's 70 major cities rose 8.8 per cent in August from a year earlier, compared with a 9.7 per cent gain in July and the weakest pace since October 2018, Reuters calculated from official <a href="https://www.wionews.com/world/chinas-factory-prices-fall-faster-as-weak-demand-hits-economy-248722">National Bureau of Statistics</a> (NBS) data on Tuesday.

Monthly basis, average new home prices rose 0.5 per cent in August, less than July's growth of 0.6 per cent and the smallest increase since February. However, it still marked the 52nd straight month of gains.

Most of the 70 cities surveyed by the NBS still reported monthly price increases for new homes, though the number was down to 55 from 60 in July.

The property sector has held up as one of the few bright spots in the world's second-largest economy.

China's property investment grew at its fastest pace in four months in August, data showed on Monday, in contrast to a protracted slowdown in industrial output and investment.

But some analysts said the rebound in investment was likely due to developers rushing to meet government requirements before they can start sales on growing financing pressure and worries about the market's prospects as regulators have made clear that supervision is only set to tighten.

Yang Yewei, a Beijing-based analyst at Southwest Securities, noted some developers have opted to cut prices, although the government's tight control over new launches suggests they may not tolerate large discounts.

A resilient real estate market has provided some cushion for the world's second-largest economy as policymakers try to revive the ailing manufacturing sector and restore flagging consumer confidence amid an escalating trade war with the United States.

But regulators are walking a tightrope, as rapidly-growing household debt and ever-rising home prices have also deepened fears about a sudden market correction and concerns over housing affordability.

In a sign the government has turned more hawkish on its housing policy as it manoeuvres to pump more credit into other areas of the economy, top Chinese leaders said in July they will not resort to using the housing market as a form of short-term stimulus.

"The policy impact of this meeting was in full play in August," said Xia Dan, an analyst with China's Bank of Communications.

Slower price increases may give the authorities breathing room as they refrain from stimulating the property sector but economists at Nomura expect some tightening measures to be eased around end-2019 as weakness in the economy becomes more pronounced.

"Any attempt to stabilise growth by choking credit to the property sector could backfire," they said, noting the sector comprises about one-quarter of China's GDP.

Price trends have been mixed lately, with some cities showing signs of rapid cooling while others are still plagued with overheating risks.

In August, softer prices were mainly in tier-2 cities, which include most of the larger provincial capitals.

Property prices there increased by 0.5 per cent on average monthly, easing from a 0.7 per cent gain in the previous month, the statistics bureau said in a statement accompanying the data.

However, Nanning, the capital of Guangxi Zhuang Autonomous Region in southern China, was the top price performer in the month, with prices surging 2.3 per cent on a monthly basis.&nbsp;

China's four top-tier cities, Beijing, Shanghai, Shenzhen and Guangzhou, had an average gain of 0.3 per cent from a month earlier, unchanged from July's.

Out of the 70 major cities the government tracks, price growth in the smallest tier-3 cities rose the most on a monthly basis, though their increase of 0.7 per cent was also in line with July's pace.

China's average residential property prices are estimated to rise 6 per cent in 2019 from a year earlier, according to a Reuters poll published in August.

The forecast was slightly higher than the 5 per cent projected in the last poll conducted in March but is significantly slower than the 9.7 per cent gain seen in 2018. &nbsp;

China's new home prices grew at their weakest pace in nearly a year in August as a cooling economy and existing curbs on speculative buying put a dent on overall demand.

China's new home prices grew at their weakest pace in nearly a year in August as a cooling economy and existing curbs on speculative buying put a dent on overall demand. Wary of property bubbles, Chinese regulators have vowed to refrain from stimulating the real estate sector as they roll out measures to boost the broader economy hit by the Sino-US trade war and slowing consumer demand. Average new home prices in China's 70 major cities rose 8.8 per cent in August from a year earlier, compared with a 9.7 per cent gain in July and the weakest pace since October 2018, Reuters calculated from official National Bureau of Statistics (NBS) data on Tuesday. Monthly basis, average new home prices rose 0.5 per cent in August, less than July's growth of 0.6 per cent and the smallest increase since February. However, it still marked the 52nd straight month of gains. Most of the 70 cities surveyed by the NBS still reported monthly price increases for new homes, though the number was down to 55 from 60 in July. The property sector has held up as one of the few bright spots in the world's second-largest economy. China's property investment grew at its fastest pace in four months in August, data showed on Monday, in contrast to a protracted slowdown in industrial output and investment. But some analysts said the rebound in investment was likely due to developers rushing to meet government requirements before they can start sales on growing financing pressure and worries about the market's prospects as regulators have made clear that supervision is only set to tighten. Yang Yewei, a Beijing-based analyst at Southwest Securities, noted some developers have opted to cut prices, although the government's tight control over new launches suggests they may not tolerate large discounts. A resilient real estate market has provided some cushion for the world's second-largest economy as policymakers try to revive the ailing manufacturing sector and restore flagging consumer confidence amid an escalating trade war with the United States. But regulators are walking a tightrope, as rapidly-growing household debt and ever-rising home prices have also deepened fears about a sudden market correction and concerns over housing affordability. In a sign the government has turned more hawkish on its housing policy as it manoeuvres to pump more credit into other areas of the economy, top Chinese leaders said in July they will not resort to using the housing market as a form of short-term stimulus. "The policy impact of this meeting was in full play in August," said Xia Dan, an analyst with China's Bank of Communications. Slower price increases may give the authorities breathing room as they refrain from stimulating the property sector but economists at Nomura expect some tightening measures to be eased around end-2019 as weakness in the economy becomes more pronounced. "Any attempt to stabilise growth by choking credit to the property sector could backfire," they said, noting the sector comprises about one-quarter of China's GDP. Price trends have been mixed lately, with some cities showing signs of rapid cooling while others are still plagued with overheating risks. In August, softer prices were mainly in tier-2 cities, which include most of the larger provincial capitals. Property prices there increased by 0.5 per cent on average monthly, easing from a 0.7 per cent gain in the previous month, the statistics bureau said in a statement accompanying the data. However, Nanning, the capital of Guangxi Zhuang Autonomous Region in southern China, was the top price performer in the month, with prices surging 2.3 per cent on a monthly basis. China's four top-tier cities, Beijing, Shanghai, Shenzhen and Guangzhou, had an average gain of 0.3 per cent from a month earlier, unchanged from July's. Out of the 70 major cities the government tracks, price growth in the smallest tier-3 cities rose the most on a monthly basis, though their increase of 0.7 per cent was also in line with July's pace. China's average residential property prices are estimated to rise 6 per cent in 2019 from a year earlier, according to a Reuters poll published in August. The forecast was slightly higher than the 5 per cent projected in the last poll conducted in March but is significantly slower than the 9.7 per cent gain seen in 2018.

China's home price growth at weakest in nearly a year, developers seen cutting prices

Asian markets mostly rose Wednesday with a broadly upbeat tone across trading floors ahead of major meetings at the European and US central banks, while there is also a growing sense of optimism over <a href="https://www.wionews.com/world/china-us-trade-talks-to-restart-after-g20-tariff-truce-239483">China-US trade talks</a>.

News that <a href="https://www.wionews.com/india-news/i-asked-nsa-john-bolton-to-resign-tweets-us-president-donald-trump-248901">Donald Trump</a> had fired his fervently hawkish national security adviser also lifted sentiment with analysts saying it could see the White House take a less strident approach and ease geopolitical tensions.

With the global economy sputtering, attention has turned increasingly to central banks as investors look for more stimulus.

Watch Vidoe:&nbsp;US President Donald Trump fires NSA John Bolton

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On Thursday the European Central Bank holds one of its most anticipated gatherings and hopes are for a series of fresh measures including a possible interest rate cut, fresh bond-buying quantitative easing (QE) or other loosening tools.

That is followed by the Federal Reserve's board meeting next week, where it is tipped to announce another reduction in borrowing costs as the world's top economy which has so far been the strongest globally stutters.

"With the expectation of the resumption of quantitative easing by the ECB&nbsp;and a rate cut by the Federal Reserve next week, the risk environment has solidified and tempted investors out of hiding from the bond markets and back into equities," said Jeffrey Halley, senior market analyst at OANDA.

In the afternoon trade, Hong Kong climbed 1.6 per cent as investors made the most of the upbeat mood to pick up cheap stocks after months of sometimes violent protests in the city weighed on the stock market.

Tokyo finished one per cent higher, Singapore put on more than one per cent, Seoul rose 0.8 per cent, Sydney gained 0.4 per cent and Taipei added 0.3 per cent, while Manila, Mumbai, Bangkok, and Jakarta also posted gains.

However, Shanghai was fell 0.4 per cent, with little major reaction to the news that China had listed 16 US categories of goods it would exempt from tariffs, ahead of planned top-level trade talks next month. Dealers also appeared to brush off Beijing's decision on Tuesday to lift limits on foreign investment in the country.

Wellington tumbled almost two per cent as Prime Minister Jacinda Ardern's government was rocked by its handling of sexual assault allegations against a top Labour Party staffer.

In early trade London rose 0.5 per cent, Frankfurt jumped 0.6 per cent and Paris edged up 0.3 per cent.

Trump's decision to sack John Bolton as a leading security adviser raised the possibility of an easing of tensions between the US and several nations, particularly Iran.

The controversial <a href="https://www.wionews.com/world/us-security-adviser-john-bolton-to-urge-tougher-uk-stance-on-iran-and-china-242307">Bolton</a> was closely linked to the invasion of Iraq and other past aggressive US foreign policy decisions and was seen as one of the main driving forces in Trump's muscular approach to Tehran, North Korea, and Venezuela, among others.

Stephen Innes at AxiTrader said that while the move did not necessarily mean a huge change in policy direction, "it does eliminate the most vocal advocate for US military-enforced regime change in the Trump administration".

He added that "from a geopolitical risk perspective, it does lessen war risk premiums, especially in Syria, Venezuela, and Iran and opens the door to more friendly discussion with North Korea".

However, the possibility of dialling down in the stand-off between the US and Iran led to a plunge Tuesday in the price of oil, with WTI diving almost three per cent from an intraday high and Brent shedding 2.5 per cent.

The two contracts later clawed back some of the losses on bargain-buying expectations for more output cuts by leading producers led by Saudi Arabia.

In share trading companies linked to Apple enjoyed healthy buying after the US tech giant unveiled new iPhones, including a lower-priced offering, and set launch dates for its original video offering as well as its game subscription service.

In Tokyo, Alps Alpine surged three per cent, Japan Display put on nearly three per cent and Sharp rallied more than four per cent, while LG Display in Seoul was up two per cent in Seoul. Taipei-listed Foxconn rose by 0.2 per cent.

On forex markets, the positive vibe helped the dollar up against the safe-haven yen, while higher-yielding, riskier currencies edged up against the greenback.

The pound held its recent gains as Prime Minister Boris Johnson said he was pushing to strike a divorce agreement with the European Union, having lost a series of key votes to MPs opposed to a no-deal Brexit.

Asian markets mostly rose Wednesday with a broadly upbeat tone across trading floors ahead of major meetings at the European and US central banks, while there is also a growing sense of optimism over China-US trade talks.

Asian markets mostly rose Wednesday with a broadly upbeat tone across trading floors ahead of major meetings at the European and US central banks, while there is also a growing sense of optimism over China-US trade talks. News that Donald Trump had fired his fervently hawkish national security adviser also lifted sentiment with analysts saying it could see the White House take a less strident approach and ease geopolitical tensions. With the global economy sputtering, attention has turned increasingly to central banks as investors look for more stimulus. Watch Vidoe: US President Donald Trump fires NSA John Bolton × On Thursday the European Central Bank holds one of its most anticipated gatherings and hopes are for a series of fresh measures including a possible interest rate cut, fresh bond-buying quantitative easing (QE) or other loosening tools. That is followed by the Federal Reserve's board meeting next week, where it is tipped to announce another reduction in borrowing costs as the world's top economy which has so far been the strongest globally stutters. "With the expectation of the resumption of quantitative easing by the ECB and a rate cut by the Federal Reserve next week, the risk environment has solidified and tempted investors out of hiding from the bond markets and back into equities," said Jeffrey Halley, senior market analyst at OANDA. In the afternoon trade, Hong Kong climbed 1.6 per cent as investors made the most of the upbeat mood to pick up cheap stocks after months of sometimes violent protests in the city weighed on the stock market. Tokyo finished one per cent higher, Singapore put on more than one per cent, Seoul rose 0.8 per cent, Sydney gained 0.4 per cent and Taipei added 0.3 per cent, while Manila, Mumbai, Bangkok, and Jakarta also posted gains. However, Shanghai was fell 0.4 per cent, with little major reaction to the news that China had listed 16 US categories of goods it would exempt from tariffs, ahead of planned top-level trade talks next month. Dealers also appeared to brush off Beijing's decision on Tuesday to lift limits on foreign investment in the country. Wellington tumbled almost two per cent as Prime Minister Jacinda Ardern's government was rocked by its handling of sexual assault allegations against a top Labour Party staffer. In early trade London rose 0.5 per cent, Frankfurt jumped 0.6 per cent and Paris edged up 0.3 per cent. Trump's decision to sack John Bolton as a leading security adviser raised the possibility of an easing of tensions between the US and several nations, particularly Iran. The controversial Bolton was closely linked to the invasion of Iraq and other past aggressive US foreign policy decisions and was seen as one of the main driving forces in Trump's muscular approach to Tehran, North Korea, and Venezuela, among others. Stephen Innes at AxiTrader said that while the move did not necessarily mean a huge change in policy direction, "it does eliminate the most vocal advocate for US military-enforced regime change in the Trump administration". He added that "from a geopolitical risk perspective, it does lessen war risk premiums, especially in Syria, Venezuela, and Iran and opens the door to more friendly discussion with North Korea". However, the possibility of dialling down in the stand-off between the US and Iran led to a plunge Tuesday in the price of oil, with WTI diving almost three per cent from an intraday high and Brent shedding 2.5 per cent. The two contracts later clawed back some of the losses on bargain-buying expectations for more output cuts by leading producers led by Saudi Arabia. In share trading companies linked to Apple enjoyed healthy buying after the US tech giant unveiled new iPhones, including a lower-priced offering, and set launch dates for its original video offering as well as its game subscription service. In Tokyo, Alps Alpine surged three per cent, Japan Display put on nearly three per cent and Sharp rallied more than four per cent, while LG Display in Seoul was up two per cent in Seoul. Taipei-listed Foxconn rose by 0.2 per cent. On forex markets, the positive vibe helped the dollar up against the safe-haven yen, while higher-yielding, riskier currencies edged up against the greenback. The pound held its recent gains as Prime Minister Boris Johnson said he was pushing to strike a divorce agreement with the European Union, having lost a series of key votes to MPs opposed to a no-deal Brexit.

Asian markets extend gains over optimism on China-US trade talks

Amazon.com Inc said it will launch its Prime subscription service in Brazil on Tuesday as it seeks to broaden its footprint in Latin America's largest economy, where it has struggled against tough local competition.

In a bid to dislodge established local e-commerce rivals including Magazine Luiza and Mercado Livre, Amazon is offering Prime subscribers unlimited nationwide free shipping and maximum 48-hour delivery time in over 90 municipalities for goods ranging from clothes to electronics.

Subscribers will also have access to movies, music, and digital books and magazines on the Prime platform, as Amazon looks to compete with online streaming services like Netflix.

The Prime launch represents Amazon's boldest move in Brazil, where it launched in 2012 as a bookseller before adding other products to the platform.

It has struggled to make inroads against the incumbents, with analysts flagging logistical, tax issues among the challenges the US giant has had to overcome before launching more products and services.

"We went as fast as possible and as slowly as necessary," Jamil Ghani, Amazon Prime International Vice President, told Reuters.

The Brazilian Prime package will cost 9.90 reais ($2.42) a month, or 89.00 reais a year.

Amazon.com Inc said it will launch its Prime subscription service in Brazil on Tuesday as it seeks to broaden its footprint in Latin America's largest economy, where it has struggled against tough local competition.

Amazon.com Inc said it will launch its Prime subscription service in Brazil on Tuesday as it seeks to broaden its footprint in Latin America's largest economy, where it has struggled against tough local competition. In a bid to dislodge established local e-commerce rivals including Magazine Luiza and Mercado Livre, Amazon is offering Prime subscribers unlimited nationwide free shipping and maximum 48-hour delivery time in over 90 municipalities for goods ranging from clothes to electronics. Subscribers will also have access to movies, music, and digital books and magazines on the Prime platform, as Amazon looks to compete with online streaming services like Netflix. The Prime launch represents Amazon's boldest move in Brazil, where it launched in 2012 as a bookseller before adding other products to the platform. It has struggled to make inroads against the incumbents, with analysts flagging logistical, tax issues among the challenges the US giant has had to overcome before launching more products and services. "We went as fast as possible and as slowly as necessary," Jamil Ghani, Amazon Prime International Vice President, told Reuters. The Brazilian Prime package will cost 9.90 reais ($2.42) a month, or 89.00 reais a year.

Amazon launches Prime service in challenging Brazil market

Shares closed lower on Tuesday as investors awaited the central bank's policy meeting decision later this week, weighed down by technology stocks. 
The broader Nifty fell 0.55 per cent to 12,021.65, while the benchmark Sensex settled 0.46 per cent&nbsp;lower at 40,083.54.

Tata Consultancy Services fell 2.6 per cent, dragging the Nifty IT index 1.6 per cent&nbsp;lower.

Country's economy grew at its slowest pace in more than four years in the January-March period, raising prospects of a rate cut by the Reserve Bank of India on Thursday.

On&nbsp;Monday, shares rose about 1.5 per cent&nbsp;to record close as weak economic growth data raised prospects of a rate cut by the central bank at its policy meeting scheduled later this week.

Both the broader NSE Nifty and the benchmark BSE Sensex gained 1.39 per cent&nbsp;each, settling above the 12,000 and 40,000 levels, respectively, for the first time ever.

Hero MotoCorp Ltd advanced about 6 per cent&nbsp;and was the top gainer on both the indexes. The Nifty Auto index rose over 2 per cent.&nbsp;

Indian markets are closed on Wednesday for a holiday.

Shares closed lower on Tuesday as investors awaited the central bank's policy meeting decision later this week, weighed down by technology stocks. The broader Nifty fell 0.

Shares closed lower on Tuesday as investors awaited the central bank's policy meeting decision later this week, weighed down by technology stocks. The broader Nifty fell 0.55 per cent to 12,021.65, while the benchmark Sensex settled 0.46 per cent lower at 40,083.54. Tata Consultancy Services fell 2.6 per cent, dragging the Nifty IT index 1.6 per cent lower. Country's economy grew at its slowest pace in more than four years in the January-March period, raising prospects of a rate cut by the Reserve Bank of India on Thursday. On Monday, shares rose about 1.5 per cent to record close as weak economic growth data raised prospects of a rate cut by the central bank at its policy meeting scheduled later this week. Both the broader NSE Nifty and the benchmark BSE Sensex gained 1.39 per cent each, settling above the 12,000 and 40,000 levels, respectively, for the first time ever. Hero MotoCorp Ltd advanced about 6 per cent and was the top gainer on both the indexes. The Nifty Auto index rose over 2 per cent. Indian markets are closed on Wednesday for a holiday.

Sensex closes lower ahead of RBI policy decision

The benchmark BSE Sensex jumped over 100 points in early trade Monday driven by gains in banking stocks amid unabated foreign fund inflow.

The 30-share index was trading 128.27 points or 0.33 per cent, higher at 39,562.99. Similarly, the broader NSE Nifty spurted 28.75 points, or 0.24 per cent, to 11,872.85.

Top Sensex gainers include NTPC, Tata Steel, Yes Bank, SBI, PowerGrid, L&amp;T, M&amp;M, ITC, HDFC Bank, Maruti, Axis Bank, Infosys, HDFC twins and ICICI Bank, rising up to 4.53 per cent.

While, Bharti Airtel, Asian Paints, IndusInd Bank, RIL, Tata Motors, ONGC and Sun Pharma fell up to 1.63 per cent.

In the previous session on Friday, the Sensex shot up 623.33 points, or 1.61 per cent, to end at 39,434.72, while the broader NSE Nifty surged 187.05 points, or 1.60 per cent, to 11,844.10.

The market is witnessing a board-based rally expecting the better outlook for the economy in the next one-two quarter, experts said.

Domestic and foreign investors have been euphoric ever since Prime Minister Narendra Modi on Thursday led Bharatiya Janata Party (BJP) to a thumping victory for the second term in office.

Foreign institutional investors bought equity worth Rs 2,026.33 crore on Friday, while domestic institutional investors sold shares to the tune of Rs 195.35 crore, provisional data available with stock exchanges showed.

Elsewhere in Asia, bourses in China, Japan and Korea were trading on a mixed note in their respective early sessions.

On the currency front, the rupee also appreciated 11 paise to 69.41 against the US dollar.

Brent crude, the global benchmark, was trading flat at 67.46 per barrel.

The benchmark BSE Sensex jumped over 100 points in early trade Monday driven by gains in banking stocks amid unabated foreign fund inflow. The 30-share index was trading 128.

The benchmark BSE Sensex jumped over 100 points in early trade Monday driven by gains in banking stocks amid unabated foreign fund inflow. The 30-share index was trading 128.27 points or 0.33 per cent, higher at 39,562.99. Similarly, the broader NSE Nifty spurted 28.75 points, or 0.24 per cent, to 11,872.85. Top Sensex gainers include NTPC, Tata Steel, Yes Bank, SBI, PowerGrid, L&T, M&M, ITC, HDFC Bank, Maruti, Axis Bank, Infosys, HDFC twins and ICICI Bank, rising up to 4.53 per cent. While, Bharti Airtel, Asian Paints, IndusInd Bank, RIL, Tata Motors, ONGC and Sun Pharma fell up to 1.63 per cent. In the previous session on Friday, the Sensex shot up 623.33 points, or 1.61 per cent, to end at 39,434.72, while the broader NSE Nifty surged 187.05 points, or 1.60 per cent, to 11,844.10. The market is witnessing a board-based rally expecting the better outlook for the economy in the next one-two quarter, experts said. Domestic and foreign investors have been euphoric ever since Prime Minister Narendra Modi on Thursday led Bharatiya Janata Party (BJP) to a thumping victory for the second term in office. Foreign institutional investors bought equity worth Rs 2,026.33 crore on Friday, while domestic institutional investors sold shares to the tune of Rs 195.35 crore, provisional data available with stock exchanges showed. Elsewhere in Asia, bourses in China, Japan and Korea were trading on a mixed note in their respective early sessions. On the currency front, the rupee also appreciated 11 paise to 69.41 against the US dollar. Brent crude, the global benchmark, was trading flat at 67.46 per barrel.

Sensex jumps over 100 points; Nifty nears 11,900

Prime Minister Narendra Modi is likely to take oath for the second term in office on May 30, according to a media report. Watch this video to know more.

PM Modi may take oath of office on May 30

Senior BJP leader Murli Manohar Joshi addresses press. Listen in...

India Votes: Murli Manohar Joshi addresses press

Prime Minister Modi visited veteran senior BJP leaders LK Advani, Murli Manohar Joshi's at their residence in New Delhi. PM Modi was also accompanied by party president Amit Shah. Watch this video to know more.

India Votes: PM Modi, Amit Shah visits senior BJP leaders

Watch PM Modi's 1st speech since poll victory. PM Modi said that this was a historic election. He said, ''I'm grateful to India.'' Watch this video to know more.

PM Modi: I am grateful to people of India

Counting for 40 Lok Sabha seats in Bihar concluded on Thursday with the BJP-led NDA winning 39 out of 40 seats at stake in the stake. It was a disastrous show from Congress and its allies RJD, RLSP, HAM and VIP as they managed to win just one seat. Watch this video to know more.

India Votes: Welcome Modi 2.0!

All eyes are on the economic performance of India as NDA 2.0 is on power, country is also poised to be the 5th largest economy of the world this year. Watch this video to know more.

WION Wallet: India hopes for economic revival under NDA 2.0

The Union Cabinet is expected to meet today to pass the dissolution of the 16th Lok Sabha. Watch this video to know more.

India Votes: Union Cabinet to meet today

The YSR Congress Party, led by Y.S. Jagan Mohan Reddy, on Thursday stormed to power in Andhra Pradesh with a landslide victory, winning 148 seats in the 175-member Assembly. The YSR Congress Party (YSRCP) was leading in two other constituencies. The Telugu Desam Party (TDP), which was in power, bit the dust across the state, only bagging 19 seats so far while being ahead in 5 other seats. Watch this video to know more.

India Votes: Jagan Reddy trumps Chandrababu Naidu

Watch SWOT analysis for the Prime Minister of India only on WION, World Is One.

India Votes: SWOT analysis for the Prime Minister of India

World leaders welcome back PM Modi. Putin, Xi, Netanyahu congratulated PM Modi. Bhutan & Japan PM hail PM Modi's landslide victory. #GeneralElections2019 #LokSabhaElectionResult #PMModi #BJP #ResultsOnWion

India Votes: Wishes pour in for PM Modi

The Bharatiya Janata Party (BJP) has recorded a landslide victory in 2019 Uttar Pradesh Lok Sabha election. The Samajwadi Party-Bahujan Samaj Party-Rashtriya Lok Dal Mahagathbandhan failed to halt the Modi juggernaut, as Modi came back to power with a resounding victory margin. Congress suffered the biggest setback with party chief Rahul Gandhi losing the Amethi Lok Sabha constituency to BJP's Smriti Irani after a long neck-and-neck battle. Watch this video to know more.

India Votes: The test for political relevance

Rahul Gandhi concedes his defeat in a press conference. He also congratulated PM Modi as well as Smriti Irani for winning from Congress bastion Amethi. #GeneralElections2019 #LokSabhaElectionResults #PMModi #BJP #ResultsOnWion

India Votes: Rahul Gandhi loses Congress bastion Amethi

India recorded a stupendous victory by NDA in the Lok Sabha elections 2019, powering the BJP to over 300 seats in the 543-member lower house of Parliament. Watch this video to know how global media reacted to Indian elections.

India Votes: Global media reacts to Indian elections

PM Modi's women-centric schemes the secret ?

Counting for 40 Lok Sabha seats in Bihar concluded on May 23 with the BJP-led NDA winning 39 out of 40 seats at stake in the stake. It was a disastrous show from Congress and its allies RJD, RLSP, HAM and VIP as they managed to win just one seat. Watch this video to know more.

India Votes: Did Congress misread the polls?

Sensex is trading near 37,540 mark while NIFTY 50 is trading near 11,290. Watch this video to know more.

WION Wallet: Indian markets open in green

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