Japanese exports declined for the third straight month in February while imports also fell, according to government data Monday, indicating a possible slowdown in the world's third-biggest economy.

Exports slipped 1.2 per cent from a year earlier to 6.38 trillion yen ($57 billion) and imports declined even more sharply -- by 6.7 per cent to 6.05 trillion yen.

"Concerns remain for the immediate future given worries over the global economy and weak demand in the IT sector," Asuka Sakamoto, an economist at Mizuho Research Institute, told AFP.

The weak import figure is also a source of concern as it may reflect declining orders for companies as they reduce production domestically, added Sakamoto.

Analysts will be closely watching export and corporate investment data for further clues on the economy's health, she said.

Exports to China increased 5.5 per cent while imports dropped 15.8 per cent, as imports declined of clothes, metal products and parts for audiovisual products.

Japan's politically sensitive surplus with the United States slipped 0.9 per cent from a year earlier to 624.9 billion yen.

With the European Union, Japan logged a 58.2 billion yen surplus.

Overall, the country logged a 339 billion yen trade surplus in February, the first surplus for five months.

Japanese exports declined for the third straight month in February while imports also fell, according to government data Monday, indicating a possible slowdown in the world's third-biggest economy.

Japanese exports declined for the third straight month in February while imports also fell, according to government data Monday, indicating a possible slowdown in the world's third-biggest economy. Exports slipped 1.2 per cent from a year earlier to 6.38 trillion yen ($57 billion) and imports declined even more sharply -- by 6.7 per cent to 6.05 trillion yen. "Concerns remain for the immediate future given worries over the global economy and weak demand in the IT sector," Asuka Sakamoto, an economist at Mizuho Research Institute, told AFP. The weak import figure is also a source of concern as it may reflect declining orders for companies as they reduce production domestically, added Sakamoto. Analysts will be closely watching export and corporate investment data for further clues on the economy's health, she said. Exports to China increased 5.5 per cent while imports dropped 15.8 per cent, as imports declined of clothes, metal products and parts for audiovisual products. Japan's politically sensitive surplus with the United States slipped 0.9 per cent from a year earlier to 624.9 billion yen. With the European Union, Japan logged a 58.2 billion yen surplus. Overall, the country logged a 339 billion yen trade surplus in February, the first surplus for five months.

Japan's exports decline for third straight month

U.S to end preferential trade with India

A quarterly leading indicator of world merchandise trade slumped to its lowest reading in nine years on Tuesday, which should put policymakers on guard for a sharper slowdown if trade tensions continue, the World Trade Organization said on Tuesday.

The WTO's quarterly outlook indicator, a composite of seven drivers of trade, showed a reading of 96.3, the weakest since March 2010 and down from 98.6 in November. A reading below 100 signals below-trend growth in trade.

A quarterly leading indicator of world merchandise trade slumped to its lowest reading in nine years on Tuesday, which should put policymakers on guard for a sharper slowdown if trade tensions continue, the World Trade Organization said on Tuesday.

A quarterly leading indicator of world merchandise trade slumped to its lowest reading in nine years on Tuesday, which should put policymakers on guard for a sharper slowdown if trade tensions continue, the World Trade Organization said on Tuesday. The WTO's quarterly outlook indicator, a composite of seven drivers of trade, showed a reading of 96.3, the weakest since March 2010 and down from 98.6 in November. A reading below 100 signals below-trend growth in trade.

WTO warns of global trade slowdown as indicator hits nine-year low

<a href="http://www.wionews.com/world/us-and-china-open-trade-talks-in-beijing-197284">China</a>'s exports unexpectedly returned to growth in January after a shock decline the previous month, while imports fell much less than expected, but analysts said it was likely due to seasonal factors and predicted renewed trade weakness ahead.

Global investors and China's major trading partners are closely watching to see how quickly its economy is cooling, or if a spate of support measures announced last year are beginning to take hold, lifting some of the gloom hanging over the world economy.

January exports rose 9.1 per cent from a year earlier, customs data showed on Thursday. Economists polled by Reuters had expected a 3.2 per cent drop after a 4.4 per cent decline in December.

Imports fell 1.5 per cent from a year earlier, much better than analysts' forecasts for a 10 per cent fall and narrowing from December's 7.6 per cent drop.

That left the country with a trade surplus of $39.16 billion for the month, better than forecasts of $33.5 billion

Analysts warn that data from China in the first two months of the year must be treated with caution due to business distortions caused by the long Lunar New Year holidays, which fell in mid-February in 2018 but started on February 4 this year.

"Clearly, the numbers surprised the market on the upside. But given the deceleration of global PMI and the weak Korean trade data, it might be premature to conclude that the trade prospect has improved just based on the January number alone," said Tommy Xie, China economist at OCBC Bank in Singapore.

"I suspect that the recovery may be partially due to the Chinese New Year effect as this year's CNY is slightly earlier as compared to last year."

Economists had widely tipped that China would see weaker exports early this year. Factories have reported shrinking overseas orders for months and warehouses in America are packed to the rafters with Chinese goods that retailers stockpiled last year in anticipation of more US tariffs.

Trade globally has also been faltering amid rising protectionism and a loss of momentum in some major economies, most notably in Europe.

Pressure on China will escalate quickly if Beijing and Washington cannot reach a deal soon to end their year-long trade war. The US is set to sharply raise tariffs on $200 billion worth of Chinese imports from March 1, though President Donald Trump said this week he could let the deadline "slide for a little while" if a deal appears close.

China's trade surplus with the United States narrowed to $27.3 billion in January, from $29.87 billion in December, customs data showed on Thursday.

Exports to the United States fell 2.4 per cent in January from a year earlier, while imports from the United States plunged 41.2 per cent.

Net exports actually dragged on China's growth by 8.6 per cent last year, even after the unexpected jump in sales to the US, Reuters calculations based on official data showed.

Factory surveys have also show weakening domestic orders, and broader economic weakness is taking a toll on both business and consumer confidence. Retail sales during the Lunar New Year holiday rose 8.5 per cent from a year earlier, still solid but the slowest pace since at least 2011.

China's economic growth slowed to 6.6 per cent in 2018, weighed down by rising borrowing costs and a clampdown on riskier lending that starved smaller, private companies of capital and stifled investment.

 
&nbsp;

China's exports unexpectedly returned to growth in January after a shock decline the previous month, while imports fell much less than expected, but analysts said it was likely due to seasonal factors and predicted renewed trade weakness ahead.

China's exports unexpectedly returned to growth in January after a shock decline the previous month, while imports fell much less than expected, but analysts said it was likely due to seasonal factors and predicted renewed trade weakness ahead. Global investors and China's major trading partners are closely watching to see how quickly its economy is cooling, or if a spate of support measures announced last year are beginning to take hold, lifting some of the gloom hanging over the world economy. January exports rose 9.1 per cent from a year earlier, customs data showed on Thursday. Economists polled by Reuters had expected a 3.2 per cent drop after a 4.4 per cent decline in December. Imports fell 1.5 per cent from a year earlier, much better than analysts' forecasts for a 10 per cent fall and narrowing from December's 7.6 per cent drop. That left the country with a trade surplus of $39.16 billion for the month, better than forecasts of $33.5 billion Analysts warn that data from China in the first two months of the year must be treated with caution due to business distortions caused by the long Lunar New Year holidays, which fell in mid-February in 2018 but started on February 4 this year. "Clearly, the numbers surprised the market on the upside. But given the deceleration of global PMI and the weak Korean trade data, it might be premature to conclude that the trade prospect has improved just based on the January number alone," said Tommy Xie, China economist at OCBC Bank in Singapore. "I suspect that the recovery may be partially due to the Chinese New Year effect as this year's CNY is slightly earlier as compared to last year." Economists had widely tipped that China would see weaker exports early this year. Factories have reported shrinking overseas orders for months and warehouses in America are packed to the rafters with Chinese goods that retailers stockpiled last year in anticipation of more US tariffs. Trade globally has also been faltering amid rising protectionism and a loss of momentum in some major economies, most notably in Europe. Pressure on China will escalate quickly if Beijing and Washington cannot reach a deal soon to end their year-long trade war. The US is set to sharply raise tariffs on $200 billion worth of Chinese imports from March 1, though President Donald Trump said this week he could let the deadline "slide for a little while" if a deal appears close. China's trade surplus with the United States narrowed to $27.3 billion in January, from $29.87 billion in December, customs data showed on Thursday. Exports to the United States fell 2.4 per cent in January from a year earlier, while imports from the United States plunged 41.2 per cent. Net exports actually dragged on China's growth by 8.6 per cent last year, even after the unexpected jump in sales to the US, Reuters calculations based on official data showed. Factory surveys have also show weakening domestic orders, and broader economic weakness is taking a toll on both business and consumer confidence. Retail sales during the Lunar New Year holiday rose 8.5 per cent from a year earlier, still solid but the slowest pace since at least 2011. China's economic growth slowed to 6.6 per cent in 2018, weighed down by rising borrowing costs and a clampdown on riskier lending that starved smaller, private companies of capital and stifled investment.

China's January trade data beats forecasts

The United States and India plan to boost bilateral trade in energy, aerospace, defence, pharmaceuticals and healthcare <a href="http://www.wionews.com/business-economy/us-and-india-hold-talks-to-calm-trade-tensions-197411">as part of a continuing commercial dialogue</a>, officials from both governments said on Thursday.

They have set up seven working groups of chief executives with top US and Indian firms that will focus on financial trade and investments as well as bring together small and medium enterprises (SME) from the two countries.

"The working groups have been formed among the CEOs. They will be providing recommendations to the government," Kenneth Juster, US Ambassador to India, told reporters at a briefing on the sidelines of the talks.

India and the United States have developed close political and security ties. But bilateral trade, which stood at $126 billion in 2017, is widely seen to be performing at nearly a quarter of its potential.

"We resolved to facilitate two-way trade and investment to build on such growth," Indian Trade Minister Suresh Prabhu said in a tweet.

Executives participating in the discussions included Tata chairman N. Chandrasekaran and American Tower CEO James Taiclet, an Indian government statement said.

US and Indian officials pressed on with talks on Thursday to resolve differences over trade and investment, Indian government sources said, after U.S. Commerce Secretary Wilbur Ross called off his visit because of bad weather at home.

Ross addressed the forum in Delhi through teleconference after his flight was cancelled, a government statement said.

Chief executives of top U.S. and Indian firms raised the issue of data localisation, Juster said, but it was not directly addressed by Indian and U.S. government officials, rather left to private discussions being held separately.

Last year India announced proposals to force foreign companies to store more of their user data locally so as to make it accessible to any legal investigations.

US&nbsp;lobby groups voiced doubts, saying this made it difficult for firms to do business in India.

The United States and India plan to boost bilateral trade in energy, aerospace, defence, pharmaceuticals and healthcare as part of a continuing commercial dialogue, officials from both governments said on Thursday.

The United States and India plan to boost bilateral trade in energy, aerospace, defence, pharmaceuticals and healthcare as part of a continuing commercial dialogue, officials from both governments said on Thursday. They have set up seven working groups of chief executives with top US and Indian firms that will focus on financial trade and investments as well as bring together small and medium enterprises (SME) from the two countries. "The working groups have been formed among the CEOs. They will be providing recommendations to the government," Kenneth Juster, US Ambassador to India, told reporters at a briefing on the sidelines of the talks. India and the United States have developed close political and security ties. But bilateral trade, which stood at $126 billion in 2017, is widely seen to be performing at nearly a quarter of its potential. "We resolved to facilitate two-way trade and investment to build on such growth," Indian Trade Minister Suresh Prabhu said in a tweet. Executives participating in the discussions included Tata chairman N. Chandrasekaran and American Tower CEO James Taiclet, an Indian government statement said. US and Indian officials pressed on with talks on Thursday to resolve differences over trade and investment, Indian government sources said, after U.S. Commerce Secretary Wilbur Ross called off his visit because of bad weather at home. Ross addressed the forum in Delhi through teleconference after his flight was cancelled, a government statement said. Chief executives of top U.S. and Indian firms raised the issue of data localisation, Juster said, but it was not directly addressed by Indian and U.S. government officials, rather left to private discussions being held separately. Last year India announced proposals to force foreign companies to store more of their user data locally so as to make it accessible to any legal investigations. US lobby groups voiced doubts, saying this made it difficult for firms to do business in India.

After commercial dialogue, India & US say they plan to boost trade

The rupee appreciated by another 26 paise to 70.44 against the US dollar in opening trade Wednesday after retail inflation fell to a 19-month low of 2.05 per cent in January.

The weakness in the dollar against some currencies overseas as investors shifted their focus to riskier asset amid the US-China trade truce hopes, also supported the rupee's up move.

Besides, retail inflation falling to a 19-month low of 2.05 per cent in January over the previous month, and selling of the American currency by exporters supported the rupee, forex dealers said.

Industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector.

The rupee had gained 48 paise to end at a one-month high of 70.70 against the US dollar Tuesday, registering its sixth straight session of gain.

In the last six trading sessions, the rupee has gained 110 paise.

The benchmark BSE Sensex rose 184.68 points, or 0.51 per cent, to trade at 36,338.30.

The rupee appreciated by another 26 paise to 70.44 against the US dollar in opening trade Wednesday after retail inflation fell to a 19-month low of 2.05 per cent in January.

The rupee appreciated by another 26 paise to 70.44 against the US dollar in opening trade Wednesday after retail inflation fell to a 19-month low of 2.05 per cent in January. The weakness in the dollar against some currencies overseas as investors shifted their focus to riskier asset amid the US-China trade truce hopes, also supported the rupee's up move. Besides, retail inflation falling to a 19-month low of 2.05 per cent in January over the previous month, and selling of the American currency by exporters supported the rupee, forex dealers said. Industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector. The rupee had gained 48 paise to end at a one-month high of 70.70 against the US dollar Tuesday, registering its sixth straight session of gain. In the last six trading sessions, the rupee has gained 110 paise. The benchmark BSE Sensex rose 184.68 points, or 0.51 per cent, to trade at 36,338.30.

Rupee gains 26 paise against US dollar in opening trade

Nepal seeks access to 2 additional Indian ports for trade

An old almost forgotten Sanskrit prayer has evocative Words tamaso ma jyotir gamaya that translates lead me from darkness to light. India has taken quite long to move into what the imperialist colonisers derisive called the ‘Dark Continent’.

Even after Independence, we have let stereotypes dominate our perceptions. It is in this context that one should welcome the sudden spurt of zeal in 'initiatives’ focusing on hitherto neglected countries in that resource-rich and strategically significant continent.

First of all, we must understand that countries on the eastern seaboard of Africa and particularly those situated in the Horn of Africa are our close neighbours with whom we have had millennia-old trade and cultural ties. This is where the non-violent weapon of Satyagraha was forged that was effectively deployed to liberate India from the colonial yoke.&nbsp;Nelson Mandela was inspired by Gandhi’s vision and his life. This has resulted in South Africa hogging the limelight most of the time.&nbsp;&nbsp;

Francophone Africa and the territories under Portuguese and Belgian control have been neglected in comparison to the detriment of our national interest.&nbsp;

What has awakened India from a stupor is the Chinese expansion on a frightening scale. The term ‘frightening’ may sound alarmist to some but the bitter truth is that it reflects ground reality. India has pledged $400 million in aid, and though, the figure appears large but it pales into insignificance to what China has been pouring in Africa since 2015. It has secured a naval base in Djibouti and competes with India in every arena from food to energy security. India simply can’t expect to match China in foreign or technical aid. Nor does our emphasis on Soft Power allowed us to gain any traction.&nbsp;

We have not given due importance even to oil producing countries, with the exception of Nigeria, and have been unnecessarily squeamish and sanctimonious about dealing with countries in grip of violent strife bilaterally though Indian men in uniform have played a critical role under the flag of United Nations. We have canvassed support in Africa chasing the mirage of a permanent seat in the Security Council or other elections in international fora. We have failed to assess commercial and strategic opportunities until China has gained a first mover advantage blocking us effectively.

Its said ‘better late than never’ and this seems to be the only consolation we can derive from the recent announcement from the South Block that India is raising its diplomatic representation in several countries that till now were put in charge of concurrently accredited envoys ensconced in more hospitable Capitals. Be it the state visit of the President or the Prime Minister what is required is to follow up on promises and expeditious execution of projects. 
 
Let’s not forget that over a million Indians live in African Diaspora and Africa provides a useful gateway to Latin America. It's time we looked beyond the BRICS.&nbsp; 
 
(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.) 
&nbsp;

An old almost forgotten Sanskrit prayer has evocative Words tamaso ma jyotir gamaya that translates lead me from darkness to light. India has taken quite long to move into what the imperialist colonisers derisive called the ‘Dark Continent’.

An old almost forgotten Sanskrit prayer has evocative Words tamaso ma jyotir gamaya that translates lead me from darkness to light. India has taken quite long to move into what the imperialist colonisers derisive called the ‘Dark Continent’. Even after Independence, we have let stereotypes dominate our perceptions. It is in this context that one should welcome the sudden spurt of zeal in 'initiatives’ focusing on hitherto neglected countries in that resource-rich and strategically significant continent. First of all, we must understand that countries on the eastern seaboard of Africa and particularly those situated in the Horn of Africa are our close neighbours with whom we have had millennia-old trade and cultural ties. This is where the non-violent weapon of Satyagraha was forged that was effectively deployed to liberate India from the colonial yoke. Nelson Mandela was inspired by Gandhi’s vision and his life. This has resulted in South Africa hogging the limelight most of the time. Francophone Africa and the territories under Portuguese and Belgian control have been neglected in comparison to the detriment of our national interest. What has awakened India from a stupor is the Chinese expansion on a frightening scale. The term ‘frightening’ may sound alarmist to some but the bitter truth is that it reflects ground reality. India has pledged $400 million in aid, and though, the figure appears large but it pales into insignificance to what China has been pouring in Africa since 2015. It has secured a naval base in Djibouti and competes with India in every arena from food to energy security. India simply can’t expect to match China in foreign or technical aid. Nor does our emphasis on Soft Power allowed us to gain any traction. We have not given due importance even to oil producing countries, with the exception of Nigeria, and have been unnecessarily squeamish and sanctimonious about dealing with countries in grip of violent strife bilaterally though Indian men in uniform have played a critical role under the flag of United Nations. We have canvassed support in Africa chasing the mirage of a permanent seat in the Security Council or other elections in international fora. We have failed to assess commercial and strategic opportunities until China has gained a first mover advantage blocking us effectively. Its said ‘better late than never’ and this seems to be the only consolation we can derive from the recent announcement from the South Block that India is raising its diplomatic representation in several countries that till now were put in charge of concurrently accredited envoys ensconced in more hospitable Capitals. Be it the state visit of the President or the Prime Minister what is required is to follow up on promises and expeditious execution of projects. Let’s not forget that over a million Indians live in African Diaspora and Africa provides a useful gateway to Latin America. It's time we looked beyond the BRICS. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

From darkness to light: India-Africa trade corridor offers multiple opportunities

Foreign Portfolio Investors (FPIs) withdrew over Rs 5,300 crore from the Indian capital markets in January, indicating their 'wait and watch' approach ahead of the general elections.

Prior to this, they had infused a net sum of over Rs 17,000 crore in the capital markets — equity and debt — during November and December 2018. In October, they had pulled out a massive Rs 38,900 crore.

According to data available with the depositories, FPIs pulled out a net amount of Rs 5,264 crore from equities and Rs 97 crore from the debt markets last month, taking the total outflow to Rs 5,361 crore.

"Investors are taking a cautious approach given their focus on global headwinds and upcoming general election," said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

It has not been a good start of the year with regards to FPI flows and clearly, they are continuing with their cautious or 'wait and watch' stance towards India, which they have been maintaining for a long time, said Himanshu Srivastava, Senior Analyst Manager Research at Morningstar Investment Adviser India.

He further said the focus would continue to be on economic growth and the general elections.

Other factors such as movement in crude prices and currency, which would have a bearing on the country's macro-environment, and worries over global trade war will continue to guide the direction of FPI flows, Srivastava added.

Echoing the views, Alok Agarwala, Senior VP and Head Investment Analytics at Bajaj Capital, said FPI flows would continue to be volatile in the coming months.

"The outflows could continue further with escalating trade disputes. The domestic macroeconomic concerns viz, weakness in currency, movement of crude oil prices, trade deficit would also weigh on inflows," he said.

"As a base case scenario, we could expect overall net flows to turn marginally positive in case external conditions improve in the next few months as one of the factors, that is oil prices, corrected sharply in last few months," he added. 
&nbsp;

Foreign Portfolio Investors (FPIs) withdrew over Rs 5,300 crore from the Indian capital markets in January, indicating their 'wait and watch' approach ahead of the general elections.

Foreign Portfolio Investors (FPIs) withdrew over Rs 5,300 crore from the Indian capital markets in January, indicating their 'wait and watch' approach ahead of the general elections. Prior to this, they had infused a net sum of over Rs 17,000 crore in the capital markets — equity and debt — during November and December 2018. In October, they had pulled out a massive Rs 38,900 crore. According to data available with the depositories, FPIs pulled out a net amount of Rs 5,264 crore from equities and Rs 97 crore from the debt markets last month, taking the total outflow to Rs 5,361 crore. "Investors are taking a cautious approach given their focus on global headwinds and upcoming general election," said Vinod Nair, Head of Research, Geojit Financial Services Ltd. It has not been a good start of the year with regards to FPI flows and clearly, they are continuing with their cautious or 'wait and watch' stance towards India, which they have been maintaining for a long time, said Himanshu Srivastava, Senior Analyst Manager Research at Morningstar Investment Adviser India. He further said the focus would continue to be on economic growth and the general elections. Other factors such as movement in crude prices and currency, which would have a bearing on the country's macro-environment, and worries over global trade war will continue to guide the direction of FPI flows, Srivastava added. Echoing the views, Alok Agarwala, Senior VP and Head Investment Analytics at Bajaj Capital, said FPI flows would continue to be volatile in the coming months. "The outflows could continue further with escalating trade disputes. The domestic macroeconomic concerns viz, weakness in currency, movement of crude oil prices, trade deficit would also weigh on inflows," he said. "As a base case scenario, we could expect overall net flows to turn marginally positive in case external conditions improve in the next few months as one of the factors, that is oil prices, corrected sharply in last few months," he added.

Foreign Portfolio Investors pull out Rs 5,300-cr from capital markets in January

China's top trade negotiator arrived in Washington as the world's top two economies prepare for high-stakes trade talks, Chinese state media said Tuesday.

The large delegation led by Vice Premier Liu He and including the head of the central bank arrived Monday as a US Justice Department indictment against top Chinese tech firm Huawei was unsealed, possibly complicating the discussions.

Beijing and Washington have a month remaining on a truce — declared in December by Donald Trump and Xi Jinping — that delayed a hike in tariffs on hundreds of billions in Chinese exports economists say could further damage an already-faltering global economy.

Trump will meet with Liu during the two-day talks, which are slated to open Wednesday, US officials said, as pressure mounts on both sides to reach a deal, with China, in particular, struggling with stuttering growth.

While there have been contradictory reports on the chances of success for the negotiations, global equities have been risen in recent weeks on hopes the two will reach some sort of deal.

China's negotiating team includes central bank chief Yi Gang, Vice Finance Minister Liao Min, and Vice Foreign Minister Zheng Zeguang, among other high-level officials, official state news agency Xinhua reported.

But the gathering comes days after the US Justice Department unveiled sweeping charges against Chinese telecoms giant Huawei and its chief financial officer Meng Wanzhou — also the daughter of the company's founder.

Secretary of Commerce Wilbur Ross said on Monday the indictments were "wholly separate from our trade negotiations with China".

However, he added: "Commerce will continue to work with our interagency partners to protect US national security interests."

China's top trade negotiator arrived in Washington as the world's top two economies prepare for high-stakes trade talks, Chinese state media said Tuesday. The large delegation led by Vice Premier Liu He and including the head of the central bank arrived Monday as a US Justice Department indictment against top Chinese tech firm Huawei was unsealed, possibly complicating the discussions.

China's top trade negotiator arrived in Washington as the world's top two economies prepare for high-stakes trade talks, Chinese state media said Tuesday. The large delegation led by Vice Premier Liu He and including the head of the central bank arrived Monday as a US Justice Department indictment against top Chinese tech firm Huawei was unsealed, possibly complicating the discussions. Beijing and Washington have a month remaining on a truce — declared in December by Donald Trump and Xi Jinping — that delayed a hike in tariffs on hundreds of billions in Chinese exports economists say could further damage an already-faltering global economy. Trump will meet with Liu during the two-day talks, which are slated to open Wednesday, US officials said, as pressure mounts on both sides to reach a deal, with China, in particular, struggling with stuttering growth. While there have been contradictory reports on the chances of success for the negotiations, global equities have been risen in recent weeks on hopes the two will reach some sort of deal. China's negotiating team includes central bank chief Yi Gang, Vice Finance Minister Liao Min, and Vice Foreign Minister Zheng Zeguang, among other high-level officials, official state news agency Xinhua reported. But the gathering comes days after the US Justice Department unveiled sweeping charges against Chinese telecoms giant Huawei and its chief financial officer Meng Wanzhou — also the daughter of the company's founder. Secretary of Commerce Wilbur Ross said on Monday the indictments were "wholly separate from our trade negotiations with China". However, he added: "Commerce will continue to work with our interagency partners to protect US national security interests."

China's top trade negotiator arrives in US for talks

The rupee appreciated by 19 paise to 70.98 against the US dollar in opening trade Monday, driven by the weakening of the greenback in overseas markets and easing crude prices.

The<a href="http://www.wionews.com/business-economy/rupee-rises-10-paise-against-us-dollar-in-early-trade-192624"> rupee opened</a> strong at 70.99 at the interbank forex market then gained further ground and touched 70.98 amid easing crude prices, displaying gains of 19 paise against the greenback over its last close.

 
The rupee Friday weakened by 10 paise to close at 71.17 against the US dollar.

Forex dealers said, easing crude oil prices and selling of the American currency by exporters supported the rupee, while a lower opening in the domestic equity market restricted the uptrend.

Brent crude, the global benchmark, was trading lower at per 61.36 barrel lower by 0.45 per cent.

Meanwhile, the benchmark BSE Sensex was trading lower by 180.02 points, or 0.50 per cent to quote at 35,845.52 while the NSE Nifty was trading at 10,719.85, down 60.70 points, or 0.56 per cent.

Forex traders said, fresh foreign fund inflows also supported the rupee up move.

Foreign funds purchased shares worth Rs 689.28 crore from the capital markets on a net basis, while domestic institutional investors sold shares worth Rs 147.35 crore Friday, provisional data showed.

The rupee appreciated by 19 paise to 70.98 against the US dollar in opening trade Monday, driven by the weakening of the greenback in overseas markets and easing crude prices.

The rupee appreciated by 19 paise to 70.98 against the US dollar in opening trade Monday, driven by the weakening of the greenback in overseas markets and easing crude prices. The rupee opened strong at 70.99 at the interbank forex market then gained further ground and touched 70.98 amid easing crude prices, displaying gains of 19 paise against the greenback over its last close. The rupee Friday weakened by 10 paise to close at 71.17 against the US dollar. Forex dealers said, easing crude oil prices and selling of the American currency by exporters supported the rupee, while a lower opening in the domestic equity market restricted the uptrend. Brent crude, the global benchmark, was trading lower at per 61.36 barrel lower by 0.45 per cent. Meanwhile, the benchmark BSE Sensex was trading lower by 180.02 points, or 0.50 per cent to quote at 35,845.52 while the NSE Nifty was trading at 10,719.85, down 60.70 points, or 0.56 per cent. Forex traders said, fresh foreign fund inflows also supported the rupee up move. Foreign funds purchased shares worth Rs 689.28 crore from the capital markets on a net basis, while domestic institutional investors sold shares worth Rs 147.35 crore Friday, provisional data showed.

Rupee opens 19 paise higher at 70.98 against US dollar

The rupee strengthened 14 paise to 71.19 against the dollar at the interbank forex market Thursday on increased selling of the American currency by exporters and banks.

Dealers said dollar's weakness against other currencies overseas amid fears of a slowing global economy and US government's record-long shutdown and early gains in domestic equity markets supported the rupee.

On Wednesday, the rupee had snapped its three-day losing streak and settled higher by 11 paise at 71.33 against the US dollar.

The benchmark BSE Sensex recovered by 28.27 points, or 0.08 per cent, to 36,136.74 after rising to 36,178.36 in opening trade Thursday.

The rupee strengthened 14 paise to 71.19 against the dollar at the interbank forex market Thursday on increased selling of the American currency by exporters and banks.

The rupee strengthened 14 paise to 71.19 against the dollar at the interbank forex market Thursday on increased selling of the American currency by exporters and banks. Dealers said dollar's weakness against other currencies overseas amid fears of a slowing global economy and US government's record-long shutdown and early gains in domestic equity markets supported the rupee. On Wednesday, the rupee had snapped its three-day losing streak and settled higher by 11 paise at 71.33 against the US dollar. The benchmark BSE Sensex recovered by 28.27 points, or 0.08 per cent, to 36,136.74 after rising to 36,178.36 in opening trade Thursday.

Rupee rises 14 paise against dollar in early trade

Indian envoy to China, Vikram Misri, called on Chinese Vice Foreign Minister Kong Xuanyou and they took stock of "positive developments" since the 2018 Wuhan summit between <a href="https://www.google.com/url?q=http://www.wionews.com/india-news/will-support-congress-if-next-prime-minister-is-from-their-party-aap-leader-192364&amp;sa=U&amp;ved=0ahUKEwi6wMvjs4bgAhXFto8KHVSaDTgQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw3oQVPh4et2CaNeT71ii0Ty">Prime Minister</a> Narendra Modi and <a href="https://www.google.com/url?q=http://www.wionews.com/world/us-regional-powers-recognise-maduro-opponent-as-venezuela-leader-192345&amp;sa=U&amp;ved=0ahUKEwj25rrPs4bgAhWEfisKHaiPDPoQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw1oXY0ysVc8rMi_lwDQh8in">President</a> Xi Jinping, the Indian Embassy said here Thursday.&nbsp;

Misri, who took charge early this month, called on Kong on Tuesday.

The meeting between Misri and Kong was termed as a "courtesy call" by the Indian officials here.

"They took stock of positive developments since Wuhan Informal Summit and also exchanged views on further strengthening of India-China relations," the Embassy tweeted.

Modi and Xi met at Wuhan in April last year in the first informal summit between the two leaders. It was conceived by both sides following the 2017 military standoff at Doklam which ratchet up tensions between the two countries.

Since the summit, the two countries steadily normalised relations with intensified dialogue on various fronts including the military and trade.

 
India's Commerce Secretary Anup Wadhawan also concluded his two-day tour to China on Tuesday.

He held talks with Chinese Vice Minister of Commerce Wang Shouwen and Zhang Jiwen, Chinese Vice Minister of General Administration of Customs of China (GACC) to enhance Indian exports to China to reduce over USD 57 billion trade deficit.

Indian envoy to China, Vikram Misri, called on Chinese Vice Foreign Minister Kong Xuanyou and they took stock of "positive developments" since the 2018 Wuhan summit between Prime Minister Narendra Modi and President Xi Jinping, the Indian Embassy said here Thursday.

Indian envoy to China, Vikram Misri, called on Chinese Vice Foreign Minister Kong Xuanyou and they took stock of "positive developments" since the 2018 Wuhan summit between Prime Minister Narendra Modi and President Xi Jinping, the Indian Embassy said here Thursday. Misri, who took charge early this month, called on Kong on Tuesday. The meeting between Misri and Kong was termed as a "courtesy call" by the Indian officials here. "They took stock of positive developments since Wuhan Informal Summit and also exchanged views on further strengthening of India-China relations," the Embassy tweeted. Modi and Xi met at Wuhan in April last year in the first informal summit between the two leaders. It was conceived by both sides following the 2017 military standoff at Doklam which ratchet up tensions between the two countries. Since the summit, the two countries steadily normalised relations with intensified dialogue on various fronts including the military and trade. India's Commerce Secretary Anup Wadhawan also concluded his two-day tour to China on Tuesday. He held talks with Chinese Vice Minister of Commerce Wang Shouwen and Zhang Jiwen, Chinese Vice Minister of General Administration of Customs of China (GACC) to enhance Indian exports to China to reduce over USD 57 billion trade deficit.

India, China review progress of ties post Wuhan summit

China's trade with North Korea fell 51.2 per cent to $2.43 billion in 2018, customs data showed on Wednesday.

Imports from North Korea fell 87.7 per cent to $213.15 million, while exports to North Korea dropped 31.7 per cent to $2.22 billion.

China's total trade with North Korea was valued at $228.89 million in December, down from $247.75 million the previous month.

Exports to North Korea in December were $207.43 million, down from $227.70 million the preceding month.

China's trade with North Korea fell 51.2 per cent to $2.43 billion in 2018, customs data showed on Wednesday. Imports from North Korea fell 87.7 per cent to $213.

China's trade with North Korea fell 51.2 per cent to $2.43 billion in 2018, customs data showed on Wednesday. Imports from North Korea fell 87.7 per cent to $213.15 million, while exports to North Korea dropped 31.7 per cent to $2.22 billion. China's total trade with North Korea was valued at $228.89 million in December, down from $247.75 million the previous month. Exports to North Korea in December were $207.43 million, down from $227.70 million the preceding month.

China's trade with North Korea falls 51% in 2018

Stock markets rebounded more than one per cent Friday, buoyed by hopes of a breakthrough in the <a href="https://www.google.com/url?q=http://www.wionews.com/opinions/why-there-will-be-no-winners-from-the-us-china-trade-war-191220&amp;sa=U&amp;ved=0ahUKEwjh79XyqfffAhUK448KHd3VBv8QFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0J249ya864ZWnj0ZufEEXj">US-China trade war</a>.

European and Asian indices bounced back after the Wall Street Journal (WSJ) reported that the US was considering lifting tariffs on China as officials look to hammer out a trade deal.

US stocks gained Thursday on the report, recovering from a wobble triggered by news that the US was carrying out a criminal probe into Chinese tech giant Huawei.&nbsp;

"Global markets are enjoying an overwhelmingly bullish end to the week, with hopes of a potential breakthrough in US-China trade talks helping drive optimism throughout both Asia and now Europe," said Joshua Mahony, senior market analyst at traders IG.

The WSJ reported that US Treasury Secretary Steven Mnuchin had raised the idea with US Trade Representative Robert Lighthizer of removing some or all levies on Beijing in return for structural reforms.

It said the move was part of a bid to reassure markets and bolster the odds of a bigger trade deal, ending a months-long saga that is beginning to impact economies around the world, particularly China.

However, the Treasury Department told AFP that no formal recommendation had been made by either Mnuchin or Lighthizer in the talks, which were "nowhere near completion".

"The US government has said that there have been no formal talks to scale back tariffs, but the market saw the half glass full as the reports signal that concessions are in the works," said Alfonso Esparza, senior market analyst at OANDA.

However, there was scepticism among some analysts, with the two sides still far apart on a number of issues, particularly regarding intellectual property.

On currency markets, the pound edged up and was sitting around two-month highs against the dollar as dealers bet that Britain would not leave the European Union without a deal.

After her grand <a href="https://www.google.com/url?q=http://www.wionews.com/world/britains-may-to-miss-davos-to-focus-on-brexit-downing-street-191092&amp;sa=U&amp;ved=0ahUKEwizlJClqvffAhVLpY8KHbAIC24QFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw2eX0qY6dSj_XORRz7exnwj">Brexit </a>plan was soundly rebuffed by MPs this week, British Prime Minister Theresa May has called cross-party talks to put together a "Plan B" by Monday.

If that does not work, there is a growing expectation that the March 29 exit deadline will be pushed back to give May more time to reach another deal or possibly call another referendum.

Oil prices meanwhile rose on the China-US tariffs report and after OPEC said it had cut output in December before a new agreement to limit supply took effect.

Both main contracts are up around a fifth since the end of December, thanks to an agreement to cut output by OPEC and other key producers including Russia.&nbsp;

That followed almost three months of losses that wiped around 40 per cent off prices amid concerns supply was running ahead of demand.

Stock markets rebounded more than one per cent Friday, buoyed by hopes of a breakthrough in the US-China trade war. European and Asian indices bounced back after the Wall Street Journal (WSJ) reported that the US was considering lifting tariffs on China as officials look to hammer out a trade deal.

Stock markets rebounded more than one per cent Friday, buoyed by hopes of a breakthrough in the US-China trade war. European and Asian indices bounced back after the Wall Street Journal (WSJ) reported that the US was considering lifting tariffs on China as officials look to hammer out a trade deal. US stocks gained Thursday on the report, recovering from a wobble triggered by news that the US was carrying out a criminal probe into Chinese tech giant Huawei. "Global markets are enjoying an overwhelmingly bullish end to the week, with hopes of a potential breakthrough in US-China trade talks helping drive optimism throughout both Asia and now Europe," said Joshua Mahony, senior market analyst at traders IG. The WSJ reported that US Treasury Secretary Steven Mnuchin had raised the idea with US Trade Representative Robert Lighthizer of removing some or all levies on Beijing in return for structural reforms. It said the move was part of a bid to reassure markets and bolster the odds of a bigger trade deal, ending a months-long saga that is beginning to impact economies around the world, particularly China. However, the Treasury Department told AFP that no formal recommendation had been made by either Mnuchin or Lighthizer in the talks, which were "nowhere near completion". "The US government has said that there have been no formal talks to scale back tariffs, but the market saw the half glass full as the reports signal that concessions are in the works," said Alfonso Esparza, senior market analyst at OANDA. However, there was scepticism among some analysts, with the two sides still far apart on a number of issues, particularly regarding intellectual property. On currency markets, the pound edged up and was sitting around two-month highs against the dollar as dealers bet that Britain would not leave the European Union without a deal. After her grand Brexit plan was soundly rebuffed by MPs this week, British Prime Minister Theresa May has called cross-party talks to put together a "Plan B" by Monday. If that does not work, there is a growing expectation that the March 29 exit deadline will be pushed back to give May more time to reach another deal or possibly call another referendum. Oil prices meanwhile rose on the China-US tariffs report and after OPEC said it had cut output in December before a new agreement to limit supply took effect. Both main contracts are up around a fifth since the end of December, thanks to an agreement to cut output by OPEC and other key producers including Russia. That followed almost three months of losses that wiped around 40 per cent off prices amid concerns supply was running ahead of demand.

Stock markets rebound on China-US trade breakthrough hopes Wrap Markets

Cambodia and <a href="https://www.google.com/url?q=http://www.wionews.com/south-asia/thailand-top-court-orders-compensation-for-myanmar-workers-in-landmark-case-190503&amp;sa=U&amp;ved=0ahUKEwiHqZ2PkfffAhXJpI8KHeoDDlAQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0X-0uCGzvL2F0rEIVdNcsw">Myanmar</a> have railed at the European Commission for resuming tariffs on millions of dollars of rice, with one ministry describing the move as a "weapon" against already poor farmers.

The EC reimposed duties of up to 175 euros ($200) per tonne of Indica rice from the two countries for three years following intensive lobbying by Italy, who said cheap imports were damaging its farmers.

While it is unconnected, the EC decision comes against the backdrop of threats to remove both Southeast Asian countries from its Everything But Arms (EBA) scheme because of human rights abuses.

The EBA deal allows developing countries access to export a broad array of goods — including rice —to European markets without shouldering tariffs.

The EC found that Indica rice imports from Cambodia and Myanmar had increased by 89 per cent in the last five seasons.

But Cambodia's ministry of commerce said the complaint was based on inaccurate information and would hurt farmers in one of Southeast Asia's poorest countries.

It is a "weapon to kill them and their families who are in debt", it said late Thursday.

Nearly half of Cambodia's 625,000 tonnes of exported rice went to EU markets last year, according to government data.

Ye Min Aung, of Myanmar's Rice Federation, also slammed the move, saying its rice exports to the EU amounted to around $100 million annually.

"We request the EU to keep helping us," he said. "Our country has many difficulties to overcome."

This week Cambodian Prime Minister Hun Sen threatened "to step on the throat" of his political rivals if the EU ended the Anything But Arms deal, which would hit the kingdom's cash-cow garment sector the hardest.

Removing EU trade preferences is a long, drawn-out process that can take several months. 
&nbsp;

Cambodia and Myanmar have railed at the European Commission for resuming tariffs on millions of dollars of rice, with one ministry describing the move as a "weapon" against already poor farmers.

Cambodia and Myanmar have railed at the European Commission for resuming tariffs on millions of dollars of rice, with one ministry describing the move as a "weapon" against already poor farmers. The EC reimposed duties of up to 175 euros ($200) per tonne of Indica rice from the two countries for three years following intensive lobbying by Italy, who said cheap imports were damaging its farmers. While it is unconnected, the EC decision comes against the backdrop of threats to remove both Southeast Asian countries from its Everything But Arms (EBA) scheme because of human rights abuses. The EBA deal allows developing countries access to export a broad array of goods — including rice —to European markets without shouldering tariffs. The EC found that Indica rice imports from Cambodia and Myanmar had increased by 89 per cent in the last five seasons. But Cambodia's ministry of commerce said the complaint was based on inaccurate information and would hurt farmers in one of Southeast Asia's poorest countries. It is a "weapon to kill them and their families who are in debt", it said late Thursday. Nearly half of Cambodia's 625,000 tonnes of exported rice went to EU markets last year, according to government data. Ye Min Aung, of Myanmar's Rice Federation, also slammed the move, saying its rice exports to the EU amounted to around $100 million annually. "We request the EU to keep helping us," he said. "Our country has many difficulties to overcome." This week Cambodian Prime Minister Hun Sen threatened "to step on the throat" of his political rivals if the EU ended the Anything But Arms deal, which would hit the kingdom's cash-cow garment sector the hardest. Removing EU trade preferences is a long, drawn-out process that can take several months.

Cambodia, Myanmar hit out at tough EU rice tariffs

Global stock markets rallied Wednesday on upbeat China-US trade news, while the pound hit yet another 20-month low as <a href="http://www.wionews.com/world/uk-pm-may-to-challenge-leadership-contest-says-ousting-would-delay-brexit-183454">British Prime Minister Theresa May</a> faces a no-confidence vote.

Oil prices jumped one dollar as volatility continued to grip world crude markets.

A flurry of positive developments in the tariffs stand-off between the world's top economies provided early Christmas cheer on trading floors, fuelling hopes an all-out trade war can be avoided.

In afternoon deals, Frankfurt fizzed 0.9 per cent higher, London won 1.1 per cent and Paris added 1.6 per cent.&nbsp;

The positivity spilled over from Asia, where Tokyo ended 2.2 per cent higher and Shanghai rose 0.3 per cent, while Hong Kong jumped 1.6 per cent.

"The equity markets are taking encouragement from recent reports of a potential truce in the US-China trade dispute," noted VTB Capital analyst Neil MacKinnon.

Canada on Tuesday released on bail <a href="http://www.wionews.com/world/huawei-cfo-meng-wanzhou-freed-on-bail-leaves-courthouse-183504">Meng Wanzhou</a>, chief financial officer (CFO) at Chinese telecoms giant Huawei, whose arrest last week sparked fury in Beijing and worries about a truce agreed at the G20 by Donald Trump and Xi Jinping this month.

Providing some extra support to the news of Meng's release was an interview in which Trump said he could intervene in the case if it helps seal a trade pact with China, adding: "Whatever's good for this country, I would do."

China added to market-friendly noise by saying it had agreed to cut tariffs on US autos to 15 per cent from 40 per cent -- wiping out a levy imposed earlier this year in response to US measures.&nbsp;

Investors welcomed the headlines but sounded a note of caution.

"Newsflow regarding developments in the US-China trade dispute has been notoriously erratic and positive news can quickly give way to negative news," added MacKinnon.

May no-confidence vote

The British pound meanwhile ducked as low as $1.2478 -- a level last seen in April 2017 -- in a torrid week for the Brexit-hit currency.

The latest low came as the head of a Conservative Party committee in charge of organising leadership challenges announced that May would Wednesday face a no-confidence vote over her Brexit negotiations.

The weak pound boosts London-listed multinationals whose earnings abroad are converted back into sterling, handing a fillip to the FTSE 100 shares index.

The news came after May had delayed Tuesday's parliamentary vote on her EU divorce agreement to avert a crushing defeat.

In midday deals, sterling clawed background to stand at $1.2534, up from $1.2487 late on Tuesday.

"So far sterling has played the waiting game in regards to the impending vote of no-confidence in Theresa May," noted Spreadex analyst Connor Campbell.

"If the prime minister comes out the other side with her job intact, then it takes one of the many uncertainties that have swirled around UK politics for the last few months off the table.

"If she loses, on the other hand, then well, the pound's likely going to have a very unpleasant run-in to Christmas."

Global stock markets rallied Wednesday on upbeat China-US trade news, while the pound hit yet another 20-month low as British Prime Minister Theresa May faces a no-confidence vote.

Global stock markets rallied Wednesday on upbeat China-US trade news, while the pound hit yet another 20-month low as British Prime Minister Theresa May faces a no-confidence vote. Oil prices jumped one dollar as volatility continued to grip world crude markets. A flurry of positive developments in the tariffs stand-off between the world's top economies provided early Christmas cheer on trading floors, fuelling hopes an all-out trade war can be avoided. In afternoon deals, Frankfurt fizzed 0.9 per cent higher, London won 1.1 per cent and Paris added 1.6 per cent. The positivity spilled over from Asia, where Tokyo ended 2.2 per cent higher and Shanghai rose 0.3 per cent, while Hong Kong jumped 1.6 per cent. "The equity markets are taking encouragement from recent reports of a potential truce in the US-China trade dispute," noted VTB Capital analyst Neil MacKinnon. Canada on Tuesday released on bail Meng Wanzhou, chief financial officer (CFO) at Chinese telecoms giant Huawei, whose arrest last week sparked fury in Beijing and worries about a truce agreed at the G20 by Donald Trump and Xi Jinping this month. Providing some extra support to the news of Meng's release was an interview in which Trump said he could intervene in the case if it helps seal a trade pact with China, adding: "Whatever's good for this country, I would do." China added to market-friendly noise by saying it had agreed to cut tariffs on US autos to 15 per cent from 40 per cent -- wiping out a levy imposed earlier this year in response to US measures. Investors welcomed the headlines but sounded a note of caution. "Newsflow regarding developments in the US-China trade dispute has been notoriously erratic and positive news can quickly give way to negative news," added MacKinnon. May no-confidence vote The British pound meanwhile ducked as low as $1.2478 -- a level last seen in April 2017 -- in a torrid week for the Brexit-hit currency. The latest low came as the head of a Conservative Party committee in charge of organising leadership challenges announced that May would Wednesday face a no-confidence vote over her Brexit negotiations. The weak pound boosts London-listed multinationals whose earnings abroad are converted back into sterling, handing a fillip to the FTSE 100 shares index. The news came after May had delayed Tuesday's parliamentary vote on her EU divorce agreement to avert a crushing defeat. In midday deals, sterling clawed background to stand at $1.2534, up from $1.2487 late on Tuesday. "So far sterling has played the waiting game in regards to the impending vote of no-confidence in Theresa May," noted Spreadex analyst Connor Campbell. "If the prime minister comes out the other side with her job intact, then it takes one of the many uncertainties that have swirled around UK politics for the last few months off the table. "If she loses, on the other hand, then well, the pound's likely going to have a very unpleasant run-in to Christmas."

World stocks rally on China-US trade; pound slides on UK turmoil

Concerns over China-US trade tensions gave European shares their worst week of losses in two months and sank US stocks on Friday, overshadowing the lift from higher oil prices and jobs data.

While Europe was higher on the day with a small recovery after three sessions of heavy losses, the trade standoff between Washington and Beijing was still a major lingering worry for investors.

"Volatility is high and investors are twitchy. It has been a dreadful week for European markets, and today’s positive move can`t mask the previous losses," said David Madden, market analyst at CMC Markets UK.

The pan-European STOXX 600 index rose 0.62 per cent, while an index of London`s 100 largest listed companies rose 1.1 per cent.

The Dow Jones Industrial Average fell 558.72 points, or 2.24 per cent, to 24,388.95, the S&amp;P 500 lost 62.87 points, or 2.33 per cent, to 2,633.08 and the Nasdaq Composite dropped 219.01 points, or 3.05 per cent, to 6,969.25.

Wall Street saw its biggest weekly losses since March, led by declines in big internet and technology shares.&nbsp;

The fall was a reversal from earlier in the day, when stocks were higher on US&nbsp;labor data that showed employers hired fewer workers than expected in November.

That supported a view that US growth is moderating and the Federal Reserve may stop raising rates sooner than previously thought.

Nonfarm payrolls increased by 155,000 last month, but missed economists` expectation for a rise of 200,000.

"It is still consistent with the Fed raising short-term interest rates, said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. "But I think the main theme here is that investors are expecting the Fed to be even more gradual, a little bit more cautious, in raising interest rates in 2019."

Oil climbed after big Middle East producers in OPEC agreed to reduce output to drain global fuel inventories and support the market.&nbsp;

US crude rose 1.42 per cent to $52.22 per barrel and Brent was last at $61.39, up 2.21 per cent on the day.&nbsp;

MSCI`s gauge of stocks across the globe shed 1.11 per cent.

Stock markets around the world tumbled on Thursday after Canadian officials announced the Dec. 1 arrest of the chief financial officer of Chinese smartphone maker Huawei for extradition to the United States. The arrest was seen as an added threat to the resolution of a trade war between the world`s top two economies.

Also contributing to this week`s sell-off were rising concerns about a US economic slowdown signaled by a flattening Treasury yield curve.

The front half of the yield curve remained inverted after two-year and three-year yields rose above five-year yields for the first time in over a decade earlier this week.

That inversion has stoked speculation about whether a US recession is looming.&nbsp;

The US dollar weakened against major currencies after the US jobs data.

The dollar index, which tracks the greenback against a basket of six other currencies, fell 0.17 per cent, with the euro up 0.24 per cent to $1.1401.

Concerns over China-US trade tensions gave European shares their worst week of losses in two months and sank US stocks on Friday, overshadowing the lift from higher oil prices and jobs data.

Concerns over China-US trade tensions gave European shares their worst week of losses in two months and sank US stocks on Friday, overshadowing the lift from higher oil prices and jobs data. While Europe was higher on the day with a small recovery after three sessions of heavy losses, the trade standoff between Washington and Beijing was still a major lingering worry for investors. "Volatility is high and investors are twitchy. It has been a dreadful week for European markets, and today’s positive move can`t mask the previous losses," said David Madden, market analyst at CMC Markets UK. The pan-European STOXX 600 index rose 0.62 per cent, while an index of London`s 100 largest listed companies rose 1.1 per cent. The Dow Jones Industrial Average fell 558.72 points, or 2.24 per cent, to 24,388.95, the S&P 500 lost 62.87 points, or 2.33 per cent, to 2,633.08 and the Nasdaq Composite dropped 219.01 points, or 3.05 per cent, to 6,969.25. Wall Street saw its biggest weekly losses since March, led by declines in big internet and technology shares. The fall was a reversal from earlier in the day, when stocks were higher on US labor data that showed employers hired fewer workers than expected in November. That supported a view that US growth is moderating and the Federal Reserve may stop raising rates sooner than previously thought. Nonfarm payrolls increased by 155,000 last month, but missed economists` expectation for a rise of 200,000. "It is still consistent with the Fed raising short-term interest rates, said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. "But I think the main theme here is that investors are expecting the Fed to be even more gradual, a little bit more cautious, in raising interest rates in 2019." Oil climbed after big Middle East producers in OPEC agreed to reduce output to drain global fuel inventories and support the market. US crude rose 1.42 per cent to $52.22 per barrel and Brent was last at $61.39, up 2.21 per cent on the day. MSCI`s gauge of stocks across the globe shed 1.11 per cent. Stock markets around the world tumbled on Thursday after Canadian officials announced the Dec. 1 arrest of the chief financial officer of Chinese smartphone maker Huawei for extradition to the United States. The arrest was seen as an added threat to the resolution of a trade war between the world`s top two economies. Also contributing to this week`s sell-off were rising concerns about a US economic slowdown signaled by a flattening Treasury yield curve. The front half of the yield curve remained inverted after two-year and three-year yields rose above five-year yields for the first time in over a decade earlier this week. That inversion has stoked speculation about whether a US recession is looming. The US dollar weakened against major currencies after the US jobs data. The dollar index, which tracks the greenback against a basket of six other currencies, fell 0.17 per cent, with the euro up 0.24 per cent to $1.1401.

Global shares mixed as trade worries loom; oil surges

Experts believe international trade issues will be the first priority for the upcoming Group of 20 (G20) Summit in Argentina and expressed their expectations of China.

The G20 meeting, to be held from November&nbsp;30 to December 1 in Buenos Aires, is themed "Building Consensus for Fair and Sustainable Development." It will focus on issues like global economy, trade and investment, sustainable development, infrastructure and climate change.

As Latin American countries, international organizations and academic institutions were calling on the G20 mechanism to play its role, safeguard multilateralism and try to reach consensus on key issues, experts believe international trade issues will be an important topic in the meeting.

An expert from Brazil hopes all the countries could find solutions via dialogue.

"No government can solve problems with approaches to domestic problems, because such approaches will possibly hurt all countries in the chain of global economic system. We should understand that the current world economy is highly interconnected and interdependent. Not a single country can exist in isolation. No government or leader should think that problems can be solved by closing the door," said Alexandre Uehara, professor of international relations of the University of Sao Paulo.

Besides, Argentine politicians expressed expectations of China.

"We have high expectations of not only the bilateral relations between Argentina and China, but also China's participation in the G20 summit. This is because under the current international economic conditions, China has a great say and also a great potential for economic development. Besides, it is a main trading partner of Argentina," said Francisco Javier Quintana, secretary-general of the national council of the Republican Proposal Party of Argentina.

&nbsp;

Experts believe international trade issues will be the first priority for the upcoming Group of 20 (G20) Summit in Argentina and expressed their expectations of China.

Experts believe international trade issues will be the first priority for the upcoming Group of 20 (G20) Summit in Argentina and expressed their expectations of China. The G20 meeting, to be held from November 30 to December 1 in Buenos Aires, is themed "Building Consensus for Fair and Sustainable Development." It will focus on issues like global economy, trade and investment, sustainable development, infrastructure and climate change. As Latin American countries, international organizations and academic institutions were calling on the G20 mechanism to play its role, safeguard multilateralism and try to reach consensus on key issues, experts believe international trade issues will be an important topic in the meeting. An expert from Brazil hopes all the countries could find solutions via dialogue. "No government can solve problems with approaches to domestic problems, because such approaches will possibly hurt all countries in the chain of global economic system. We should understand that the current world economy is highly interconnected and interdependent. Not a single country can exist in isolation. No government or leader should think that problems can be solved by closing the door," said Alexandre Uehara, professor of international relations of the University of Sao Paulo. Besides, Argentine politicians expressed expectations of China. "We have high expectations of not only the bilateral relations between Argentina and China, but also China's participation in the G20 summit. This is because under the current international economic conditions, China has a great say and also a great potential for economic development. Besides, it is a main trading partner of Argentina," said Francisco Javier Quintana, secretary-general of the national council of the Republican Proposal Party of Argentina.

International trade issues to be first priority for G20 summit

Bitcoin fell below US $5,000 on Monday for the first time in over a year, slumping to a fresh 13-month low on the Bitstamp platform as a broad sell-off in cryptocurrencies sparked last week gathered momentum.

As of 1645 GMT the original cryptocurrency was down 8.7 per cent at US $5,100, after breaching the landmark for the first time since October 12, 2017.

Traders said selling was largely sentiment-driven and cited fears that Thursday's "hard fork" in bitcoin cash, where the smaller coin split into two separate currencies, could destabilise others.

Bitcoin fell below US $5,000 on Monday for the first time in over a year, slumping to a fresh 13-month low on the Bitstamp platform as a broad sell-off in cryptocurrencies sparked last week gathered momentum.

Bitcoin fell below US $5,000 on Monday for the first time in over a year, slumping to a fresh 13-month low on the Bitstamp platform as a broad sell-off in cryptocurrencies sparked last week gathered momentum. As of 1645 GMT the original cryptocurrency was down 8.7 per cent at US $5,100, after breaching the landmark for the first time since October 12, 2017. Traders said selling was largely sentiment-driven and cited fears that Thursday's "hard fork" in bitcoin cash, where the smaller coin split into two separate currencies, could destabilise others.

Bitcoin breaches $5,000, plumbs fresh 13-month low

Forty-four per cent of German firms expect a further escalation of trade tensions between Europe and the United States, which is likely to continue to dampen new investments, the RND newspaper chain reported, citing a survey by the IW economic institute.

Thirty-four per cent do not see trade ties growing more strained, RND reported.

It said 41 per cent of firms surveyed considered it unlikely that the United States and the European Union (EU) would reach agreement on a transatlantic trade agreement.

US President Donald Trump and European Commission President Jean-Claude Juncker struck an agreement in July that should shield European firms from US auto tariffs while the two sides continue to work on trade issues.&nbsp;

But the EU`s trade commissioner, Cecilia Malmstrom, last week said any US-EU trade deal would be limited in scope, covering industrial goods, but not agriculture.

Pascal Lamy, the former director general of the World Trade Organisation, last month said the EU should also prepare for its companies to be targeted by US sanctions in a worsening trade dispute between the United States and China.

The IW study said continued uncertainty about the global trade environment would weigh on firms` willingness to invest, which in turn would depress German firms` export prospects in the United States and elsewhere.

"Given worldwide economic developments, the downturn of the German economy is expected to continue," IW said in the study, according to RND.

The DIHK German Chambers of Commerce also sees no signs that the United States will change course and back away from threatened tariffs, a situation that is of particular concern to German automakers, the media group reported.

DIHK President Eric Schweitzer said it was imperative to continue dialogue with Washington, with the goal of negotiating a longer-term free trade agreement that would give industry more certainty and room for manouevre.

"For the moment, we are far from such a reasonable agreement with our second most important trading partner, the United States," he added. 
He said the group had halved its export growth forecast for 2018 to 2.8 per cent, and expected modest growth of just 2.5 per cent next year.&nbsp;

Forty-four per cent of German firms expect a further escalation of trade tensions between Europe and the United States, which is likely to continue to dampen new investments, the RND newspaper chain reported, citing a survey by the IW economic institute.

Forty-four per cent of German firms expect a further escalation of trade tensions between Europe and the United States, which is likely to continue to dampen new investments, the RND newspaper chain reported, citing a survey by the IW economic institute. Thirty-four per cent do not see trade ties growing more strained, RND reported. It said 41 per cent of firms surveyed considered it unlikely that the United States and the European Union (EU) would reach agreement on a transatlantic trade agreement. US President Donald Trump and European Commission President Jean-Claude Juncker struck an agreement in July that should shield European firms from US auto tariffs while the two sides continue to work on trade issues. But the EU`s trade commissioner, Cecilia Malmstrom, last week said any US-EU trade deal would be limited in scope, covering industrial goods, but not agriculture. Pascal Lamy, the former director general of the World Trade Organisation, last month said the EU should also prepare for its companies to be targeted by US sanctions in a worsening trade dispute between the United States and China. The IW study said continued uncertainty about the global trade environment would weigh on firms` willingness to invest, which in turn would depress German firms` export prospects in the United States and elsewhere. "Given worldwide economic developments, the downturn of the German economy is expected to continue," IW said in the study, according to RND. The DIHK German Chambers of Commerce also sees no signs that the United States will change course and back away from threatened tariffs, a situation that is of particular concern to German automakers, the media group reported. DIHK President Eric Schweitzer said it was imperative to continue dialogue with Washington, with the goal of negotiating a longer-term free trade agreement that would give industry more certainty and room for manouevre. "For the moment, we are far from such a reasonable agreement with our second most important trading partner, the United States," he added. He said the group had halved its export growth forecast for 2018 to 2.8 per cent, and expected modest growth of just 2.5 per cent next year.

Nearly half of German firms expect growing trade strains with US: Survey

China and the US crossed swords Saturday ahead of an APEC summit, duelling over protectionism, trade tariffs and "chequebook diplomacy" as they laid out sharply contrasting visions for the Pacific Rim region.

In combative back-to-back speeches at a business forum held on a hulking cruise ship moored in Port Moresby, Xi Jinping and US Vice President Mike Pence pulled few punches.

The feisty exchanges laid the ground for what could be a fiery encounter between the Chinese leader and President Donald Trump at next month's G20 in Argentina.

Xi lashed out at "America First" trade protectionism and stressed that global trade rules should not be applied "with double standards or selfish agendas" -- in a thinly veiled swipe at Washington.

The world's top two economies have been embroiled in a spiralling trade war, imposing tit-for-tat tariffs on each other's goods in a confrontation experts warn could torpedo the global economy.

Xi urged the world to "say no to protectionism and unilateralism", warning it was a "short-sighted approach" that was "doomed to failure".

For his part, Pence vowed US tariffs would remain in place unless Beijing "changes its ways".

"We've put tariffs on USD 250 billion in Chinese goods and that number could more than double," he told CEOs from around the region.

Amid fears diplomatic and trade friction could spill over into the military sphere, Pence announced the US would join forces with Australia in the development of a new naval base.

And in a move likely to irritate Beijing, he also briefly met Taiwan's APEC representative.

Trump decided to skip the summit in Papua New Guinea, leaving the door open for Xi, who arrived two days earlier for a state visit and has been the undoubted star of the show.

Xi opened a new road and a school in Port Moresby, where he was serenaded by dozens of people from various tribes sporting parrot feathers, possum pelts and seashell necklaces.

The APEC summit of leaders from 21 countries across the region has developed into a tussle for influence between an increasingly assertive China and a more withdrawn US.

This appeared to be borne out by the first "family photo" of leaders, which featured Xi front and centre while Pence was absent.

But in his speech, Pence lashed out at Chinese largesse in strong terms, mocking the Belt-and-Road initiative that sees China offering loans to poorer countries in the region to improve infrastructure.

The vice president urged Pacific nations to embrace the United States, which, he said, did not offer a "constricting belt or a one-way road".

He said the terms of China's loans were "opaque at best" and "too often, they come with strings attached and lead to staggering debt".

"Do not accept foreign debt that could compromise your sovereignty," he said.

"We don't drown our partners in a sea of debt... We don't coerce, corrupt, or compromise your independence. The United States deals openly and fairly."&nbsp;

As if pre-empting the criticism, Xi defended the plan amid attacks it is akin to "chequebook diplomacy" to further Chinese interests in the region.

He denied there was a "hidden geopolitical agenda... Nor is it a trap as some people have labelled it".

And the Chinese leader warned that no one would gain from heightened tensions between the US and his emerging superpower.

"History has shown that confrontation -- whether in the form of a cold war, hot war or trade war -- will produce no winners," he said.

Pence too stressed that Washington wanted a "better relationship" with Beijing -- if it respects its neighbours' sovereignty, embraced "free, fair and reciprocal trade" and improved its human rights record.

Officially, the leaders will discuss improving regional economic cooperation under the theme of "embracing the digital future" but the punchy speeches set the scene for a tense gathering.

In the absence of Trump and Russian President Vladimir Putin, the summit itself has been relatively low-key and the focus has turned to the venue Port Moresby.

The capital of Papua New Guinea has been ranked as one of the least liveable cities for expatriates, with a high level of crime, often perpetrated by feared street gangs known as "raskols".

Delegates have been advised not to venture out alone -- especially after dark -- and officials and journalists have been hosted on massive cruise ships moored in the harbour due to safety issues and a dearth of hotel rooms.

Nevertheless, in a last-minute change-of-heart, Pence decided to stay overnight in the city rather than fly in and out from Australia as originally planned.

Resplendent in shiny red or yellow patterned shirts, the leaders enjoyed a respite from negotiations at a gala dinner before starting the formal talks on Sunday.&nbsp;

China and the US crossed swords Saturday ahead of an APEC summit, duelling over protectionism, trade tariffs and "chequebook diplomacy" as they laid out sharply contrasting visions for the Pacific Rim region.

China and the US crossed swords Saturday ahead of an APEC summit, duelling over protectionism, trade tariffs and "chequebook diplomacy" as they laid out sharply contrasting visions for the Pacific Rim region. In combative back-to-back speeches at a business forum held on a hulking cruise ship moored in Port Moresby, Xi Jinping and US Vice President Mike Pence pulled few punches. The feisty exchanges laid the ground for what could be a fiery encounter between the Chinese leader and President Donald Trump at next month's G20 in Argentina. Xi lashed out at "America First" trade protectionism and stressed that global trade rules should not be applied "with double standards or selfish agendas" -- in a thinly veiled swipe at Washington. The world's top two economies have been embroiled in a spiralling trade war, imposing tit-for-tat tariffs on each other's goods in a confrontation experts warn could torpedo the global economy. Xi urged the world to "say no to protectionism and unilateralism", warning it was a "short-sighted approach" that was "doomed to failure". For his part, Pence vowed US tariffs would remain in place unless Beijing "changes its ways". "We've put tariffs on USD 250 billion in Chinese goods and that number could more than double," he told CEOs from around the region. Amid fears diplomatic and trade friction could spill over into the military sphere, Pence announced the US would join forces with Australia in the development of a new naval base. And in a move likely to irritate Beijing, he also briefly met Taiwan's APEC representative. Trump decided to skip the summit in Papua New Guinea, leaving the door open for Xi, who arrived two days earlier for a state visit and has been the undoubted star of the show. Xi opened a new road and a school in Port Moresby, where he was serenaded by dozens of people from various tribes sporting parrot feathers, possum pelts and seashell necklaces. The APEC summit of leaders from 21 countries across the region has developed into a tussle for influence between an increasingly assertive China and a more withdrawn US. This appeared to be borne out by the first "family photo" of leaders, which featured Xi front and centre while Pence was absent. But in his speech, Pence lashed out at Chinese largesse in strong terms, mocking the Belt-and-Road initiative that sees China offering loans to poorer countries in the region to improve infrastructure. The vice president urged Pacific nations to embrace the United States, which, he said, did not offer a "constricting belt or a one-way road". He said the terms of China's loans were "opaque at best" and "too often, they come with strings attached and lead to staggering debt". "Do not accept foreign debt that could compromise your sovereignty," he said. "We don't drown our partners in a sea of debt... We don't coerce, corrupt, or compromise your independence. The United States deals openly and fairly." As if pre-empting the criticism, Xi defended the plan amid attacks it is akin to "chequebook diplomacy" to further Chinese interests in the region. He denied there was a "hidden geopolitical agenda... Nor is it a trap as some people have labelled it". And the Chinese leader warned that no one would gain from heightened tensions between the US and his emerging superpower. "History has shown that confrontation -- whether in the form of a cold war, hot war or trade war -- will produce no winners," he said. Pence too stressed that Washington wanted a "better relationship" with Beijing -- if it respects its neighbours' sovereignty, embraced "free, fair and reciprocal trade" and improved its human rights record. Officially, the leaders will discuss improving regional economic cooperation under the theme of "embracing the digital future" but the punchy speeches set the scene for a tense gathering. In the absence of Trump and Russian President Vladimir Putin, the summit itself has been relatively low-key and the focus has turned to the venue Port Moresby. The capital of Papua New Guinea has been ranked as one of the least liveable cities for expatriates, with a high level of crime, often perpetrated by feared street gangs known as "raskols". Delegates have been advised not to venture out alone -- especially after dark -- and officials and journalists have been hosted on massive cruise ships moored in the harbour due to safety issues and a dearth of hotel rooms. Nevertheless, in a last-minute change-of-heart, Pence decided to stay overnight in the city rather than fly in and out from Australia as originally planned. Resplendent in shiny red or yellow patterned shirts, the leaders enjoyed a respite from negotiations at a gala dinner before starting the formal talks on Sunday.

US, China in APEC cruise ship clash on trade, influence

Iran and Iraq could raise their annual bilateral trade to US $20 billion from the current level of US $12 billion, President Hassan Rouhani said on Saturday, amid concerns in Tehran over the economic impact of renewed US&nbsp;sanctions.

Rouhani's remarks, made after a meeting with visiting Iraqi President Barham Salih, came about two weeks after the United States restored sanctions targeting Iran’s key oil industry as well as its banking and transportation sectors.

"... through bilateral efforts, we can raise this figure (for bilateral trade) to US $20 billion in the near future," Rouhani said in comments broadcast live on Iranian state television.

"We held talks on trade in electricity, gas, petroleum products and activities ... in the field of oil exploration and extraction," Rouhani said.

Iraqi officials told Reuters last week that Iraq had agreed to trade Iraqi food items in return for Iranian gas and energy supplies.

Baghdad is seeking US&nbsp;approval to allow it to import Iranian gas for its power stations. Iraqi officials say they needs more time to find an alternative source than a 45-day waiver granted to it by the United States.

"It will be important to create free trade zones at our shared border and to connect the two countries' railways," Salih said.

"We will not forget your support for the Iraqi people in the fight against (Iraqi dictator) Saddam (Hussein). Neither do we forget Iran's stand in the recent fight against terrorism," added Salih, an Iraqi Kurd.

Iran wields wide influence in Iraq, its smaller Arab neighbour, where its Revolutionary Guards played a key role in training and arming the mainly Shi’ite militias that helped defeat Islamic State.

Iraq imports a wide range of goods from Iran, including food, agricultural products, home appliances, air conditioners and spare car parts. The goods element of Iranian imports to Iraq was worth about US $6 billion in the 12 months ending March 2018, or about 15 per cent of Iraq’s total imports for 2017.

Energy contracts also contribute to the total volume of bilateral trade.

Iraqi central bank officials said in August that their country’s economy was closely linked to non-Arab Iran, which is engaged in several proxy wars with Saudi Arabia in the region.

Iran and Iraq could raise their annual bilateral trade to US $20 billion from the current level of US $12 billion, President Hassan Rouhani said on Saturday, amid concerns in Tehran over the economic impact of renewed US sanctions.

Iran and Iraq could raise their annual bilateral trade to US $20 billion from the current level of US $12 billion, President Hassan Rouhani said on Saturday, amid concerns in Tehran over the economic impact of renewed US sanctions. Rouhani's remarks, made after a meeting with visiting Iraqi President Barham Salih, came about two weeks after the United States restored sanctions targeting Iran’s key oil industry as well as its banking and transportation sectors. "... through bilateral efforts, we can raise this figure (for bilateral trade) to US $20 billion in the near future," Rouhani said in comments broadcast live on Iranian state television. "We held talks on trade in electricity, gas, petroleum products and activities ... in the field of oil exploration and extraction," Rouhani said. Iraqi officials told Reuters last week that Iraq had agreed to trade Iraqi food items in return for Iranian gas and energy supplies. Baghdad is seeking US approval to allow it to import Iranian gas for its power stations. Iraqi officials say they needs more time to find an alternative source than a 45-day waiver granted to it by the United States. "It will be important to create free trade zones at our shared border and to connect the two countries' railways," Salih said. "We will not forget your support for the Iraqi people in the fight against (Iraqi dictator) Saddam (Hussein). Neither do we forget Iran's stand in the recent fight against terrorism," added Salih, an Iraqi Kurd. Iran wields wide influence in Iraq, its smaller Arab neighbour, where its Revolutionary Guards played a key role in training and arming the mainly Shi’ite militias that helped defeat Islamic State. Iraq imports a wide range of goods from Iran, including food, agricultural products, home appliances, air conditioners and spare car parts. The goods element of Iranian imports to Iraq was worth about US $6 billion in the 12 months ending March 2018, or about 15 per cent of Iraq’s total imports for 2017. Energy contracts also contribute to the total volume of bilateral trade. Iraqi central bank officials said in August that their country’s economy was closely linked to non-Arab Iran, which is engaged in several proxy wars with Saudi Arabia in the region.

Rouhani sees Iran, Iraq expanding trade despite US sanctions

The WTO's dispute panel has said India's move to impose safeguard import duty on some iron and steel products was inconsistent with certain global trade norms.

The ruling comes in the backdrop of Japan dragging India to the World Trade Organization (WTO) against certain measures taken by New Delhi on imports of iron and steel products. The case was filed by Japan in December 2017.

"...Having found that India acted inconsistently with certain provisions of the GATT 1994 and the Agreement in Safeguards, we recommend that, to the extent that the measure continues to have any effects, India bring it into conformity with its obligations under those agreements," the panel said in its ruling.

The duty imposed by India already ended in March this year.

As India and Japan failed to resolve the issue in the bilateral consultation process, the WTO had set up the dispute resolution panel earlier this year.

Japan, which is the second largest steel producer in the world, had alleged that duties imposed on steel imports by India violated WTO trade norms.

In September 2015, India imposed provisional safeguard duty of 20 per cent on import of certain categories of steel with a view to protect domestic producers. Later, it was reduced and extended till March this year.

The dispute assumes significance as India and Japan implemented a comprehensive free trade agreement in 2011. It gave easy access to Japan in the Indian steel market.

The bilateral trade between the countries stood at $15.7 billion in 2017-18. Trade is highly in favour of Japan as the trade deficit stood at about $11 billion in that fiscal.

The WTO's dispute panel has said India's move to impose safeguard import duty on some iron and steel products was inconsistent with certain global trade norms. The ruling comes in the backdrop of Japan dragging India to the World Trade Organization (WTO) against certain measures taken by New Delhi on imports of iron and steel products.

The WTO's dispute panel has said India's move to impose safeguard import duty on some iron and steel products was inconsistent with certain global trade norms. The ruling comes in the backdrop of Japan dragging India to the World Trade Organization (WTO) against certain measures taken by New Delhi on imports of iron and steel products. The case was filed by Japan in December 2017. "...Having found that India acted inconsistently with certain provisions of the GATT 1994 and the Agreement in Safeguards, we recommend that, to the extent that the measure continues to have any effects, India bring it into conformity with its obligations under those agreements," the panel said in its ruling. The duty imposed by India already ended in March this year. As India and Japan failed to resolve the issue in the bilateral consultation process, the WTO had set up the dispute resolution panel earlier this year. Japan, which is the second largest steel producer in the world, had alleged that duties imposed on steel imports by India violated WTO trade norms. In September 2015, India imposed provisional safeguard duty of 20 per cent on import of certain categories of steel with a view to protect domestic producers. Later, it was reduced and extended till March this year. The dispute assumes significance as India and Japan implemented a comprehensive free trade agreement in 2011. It gave easy access to Japan in the Indian steel market. The bilateral trade between the countries stood at $15.7 billion in 2017-18. Trade is highly in favour of Japan as the trade deficit stood at about $11 billion in that fiscal.

India's safeguard duty move on steel goods inconsistent with certain global trade norms: WTO

US&nbsp;President Donald Trump said on Friday that he will likely make a deal with China on trade, adding that a lot of progress had been made to resolve the two countries' differences but warning that he still may impose more tariffs on Chinese goods.

"China very much wants to make a deal," Trump told reporters in Washington just hours after his top economic adviser expressed caution about talk of a possible US-China trade agreement.

"We've had a very good discussions with China, we're getting much closer to doing something," Trump said before departing the White House for a campaign event.

"I spoke with President Xi (Jinping) yesterday. They very much want to make a deal," Trump said.

"I think we'll make a deal with China, and I think it will be a very fair deal for everybody, but it will be a good deal for the United States."

Trump said he will discuss trade with Xi when the two meet for dinner on the sidelines of the G20 leaders' summit at the end of November in Buenos Aires, Argentina.

His administration has demanded that Beijing make sweeping changes to its policies on intellectual property protections, technology transfers, industrial subsidies and domestic market access, along with steps to reduce a US $375 billion US&nbsp;goods trade deficit with China.

Trump said a deal with China would also be good for Beijing.

"If we can open up China and make it fair, for the first time ever -- this should have done years ago by other presidents but it wasn't -- I am very much willing to do it. But China very much wants to make a deal," he said.

Trump's comments came a day after a phone call with Xi that he described as "very good.".

The president's remarks helped US&nbsp;stocks to trim their losses on a day that started with market optimism over a Bloomberg report quoting unnamed sources as saying that Trump had ordered his cabinet to draw up terms for a China trade deal.

But by midday, shares had turned negative, weighed down by Apple Inc.'s disappointing earnings forecast and comments from White House economic adviser Larry Kudlow that he was less optimistic than previously about a deal between Washington and Beijing.

Kudlow, speaking on CNBC, contradicted the Bloomberg report and added: "There's no mass movement, there's no huge thing. We're not on the cusp of a deal."

One of China's vice commerce ministers Wang Bingnan said on Saturday the country is willing to resolve trade issues with the United States through mutually respectful talks and on an equal footing, similar to past comments from Beijing.

Trump administration officials have said US-China trade talks cannot resume until Beijing outlines specific actions it would take to meet US&nbsp;demands for sweeping changes to policies on technology transfers, industrial subsidies and market access.

Trump said that if a deal is not made with China, he could impose tariffs on another US $267 billion in Chinese imports into the United States, adding that China's economy had "been hit very hard" by previous US&nbsp;tariffs.

The United States has imposed tariffs on US $250 billion worth of Chinese goods so far, while China has retaliated with US $110 billion worth of tariffs on US&nbsp;goods.

The Trump administration also has taken action to hit the Chinese semiconductor industry, indicting two companies accused of stealing trade secrets and banning US&nbsp;software and equipment exports to one of them.

US President Donald Trump said on Friday that he will likely make a deal with China on trade, adding that a lot of progress had been made to resolve the two countries' differences but warning that he still may impose more tariffs on Chinese goods.

US President Donald Trump said on Friday that he will likely make a deal with China on trade, adding that a lot of progress had been made to resolve the two countries' differences but warning that he still may impose more tariffs on Chinese goods. "China very much wants to make a deal," Trump told reporters in Washington just hours after his top economic adviser expressed caution about talk of a possible US-China trade agreement. "We've had a very good discussions with China, we're getting much closer to doing something," Trump said before departing the White House for a campaign event. "I spoke with President Xi (Jinping) yesterday. They very much want to make a deal," Trump said. "I think we'll make a deal with China, and I think it will be a very fair deal for everybody, but it will be a good deal for the United States." Trump said he will discuss trade with Xi when the two meet for dinner on the sidelines of the G20 leaders' summit at the end of November in Buenos Aires, Argentina. His administration has demanded that Beijing make sweeping changes to its policies on intellectual property protections, technology transfers, industrial subsidies and domestic market access, along with steps to reduce a US $375 billion US goods trade deficit with China. Trump said a deal with China would also be good for Beijing. "If we can open up China and make it fair, for the first time ever -- this should have done years ago by other presidents but it wasn't -- I am very much willing to do it. But China very much wants to make a deal," he said. Trump's comments came a day after a phone call with Xi that he described as "very good.". The president's remarks helped US stocks to trim their losses on a day that started with market optimism over a Bloomberg report quoting unnamed sources as saying that Trump had ordered his cabinet to draw up terms for a China trade deal. But by midday, shares had turned negative, weighed down by Apple Inc.'s disappointing earnings forecast and comments from White House economic adviser Larry Kudlow that he was less optimistic than previously about a deal between Washington and Beijing. Kudlow, speaking on CNBC, contradicted the Bloomberg report and added: "There's no mass movement, there's no huge thing. We're not on the cusp of a deal." One of China's vice commerce ministers Wang Bingnan said on Saturday the country is willing to resolve trade issues with the United States through mutually respectful talks and on an equal footing, similar to past comments from Beijing. Trump administration officials have said US-China trade talks cannot resume until Beijing outlines specific actions it would take to meet US demands for sweeping changes to policies on technology transfers, industrial subsidies and market access. Trump said that if a deal is not made with China, he could impose tariffs on another US $267 billion in Chinese imports into the United States, adding that China's economy had "been hit very hard" by previous US tariffs. The United States has imposed tariffs on US $250 billion worth of Chinese goods so far, while China has retaliated with US $110 billion worth of tariffs on US goods. The Trump administration also has taken action to hit the Chinese semiconductor industry, indicting two companies accused of stealing trade secrets and banning US software and equipment exports to one of them.

Trump says 'I think we'll make a deal with China' on trade

The BSE Sensex erased all gains in a highly volatile session Thursday to end 10 points lower as losses in shares of software exporters and pharmaceutical companies offset gains in capital goods, banking and auto counters, amid unabated foreign fund outflows.

The benchmark indices swung between gains and losses, with Sensex gyrating over 376 points both ways on alternate bouts of buying and selling.

The 30-share index opened higher at 34,650.63 points and advanced to 34,679.93 points amid sustained buying by domestic institutional investors (DIIs), better-than-expected corporate earnings and positive global cues.

It, subsequently, slipped into the negative zone to hit a low of 34,303.38 points as participants began booking profits and finally settled 10.08 points, or 0.03 per cent, lower at 34,431.97.

The gauge had climbed 550.92 points Wednesday.

Similarly, the NSE Nifty after shuttling between 10,441.90 and 10,341.90, ended 6.15 points, or 0.06 per cent down at 10,380.45.

Market commenced the session on a strong footing on easing concerns around the rift between the government and RBI.

However, emergence of profit-booking at every rise reversed early gains. 
Market was range-bound despite a fall in oil prices and strengthening rupee as investors remain focused on quarterly earnings, analysts said.

Selling was more pronounced in information technology and pharmaceutical sector stocks amid recovery in the rupee.

Shares of software services exporters were beaten down by the stronger rupee.&nbsp;

The domestic currency firmed as much as 35 paise at 73.60 against the dollar (intra-day) at the forex market.

Among Sensex constituents, Infosys emerged worst performer by plunging 2.90 per cent, Wipro shed 0.47 per cent and TCS down 0.15 per cent.

Other laggards include Coal India falling 1.90 per cent, NTPC 1.85 per cent, Sun Pharma 1.31 per cent, Asian Paint 0.82 per cent, ITC Ltd 0.82 per cent, Kotak Bank 0.82 per cent, ICICI Bank 0.48 per cent, HDFC 0.44 per cent, RIL 0.42 per cent, HUL 0.40 per cent and HDFC Bank 0.03 per cent.

Private-sector lender Yes Bank was the top gainer in the Sensex pack by surging 8.35 per cent in its biggest daily gain since October 11.

Shares of Larsen and Toubro (L&amp;T) climbed 2.65 per cent after the company reported 28.36 per cent jump in its consolidated net profit for the quarter ended September, 2018.

Also, Axis Bank, IndusInd Bank, SBI, PowerGrid, Vedanta Ltd, Tata Steel, ONGC, and Adani Ports gained up to 3.51 per cent.

Auto stocks, too, were in better shape after companies posted sales numbers for October.

Shares of the country's largest car maker Maruti Suzuki, gained 1.52 per cent after the company Thursday reported a marginal increase in sales at 1,46,766 units in October.

Stocks of other automakers such as Hero MotoCorp, Bajaj Auto and Tata Motors too recorded gains of up to 1.22 per cent.&nbsp;

M&amp;M, however, ended lower.

The broader markets were in a better form with the small-cap index rising by 0.99 per cent, and mid-cap index gaining 0.73 per cent.

According to analysts, currently many stocks are trading at oversold region while turnaround will happen on the basis of change in sector outlook or revival in earnings.&nbsp;

Signs of turnaround were seen in mid and small cap which continue to outperform the main indices, they added.

Among sectoral indices, the BSE IT index emerged worst performer by falling 1.78 per cent, followed by Teck shedding 1.60 per cent, FMCG 0.65 per cent and healthcare 0.64 per cent.

However, capital goods index gained the most by rising 2.34 per cent, realty (2.27 per cent), metal (1.29 per cent), infrastructure (1.227 per cent), consumer durables (1.03 per cent) and banks (0.8917 per cent), PSU (0.85 per cent), power (0.80per cent), oil &amp; gas (0.70 per cent) and auto (0.05 per cent).

In the Asian region, Hong Kong's Hang Seng surged 1.75 per cent, Singapore up 1.76 per cent, Taiwan gained 0.43 per cent, Shanghai Composite Index up 0.13 per cent. However, Japan's Nikkei fell 1.06 per cent and Korea shed 0.26 per cent.

In the Eurozone, Frankfurt's DAX was higher by 0.62 per cent, while Paris CAC 40 rose 0.31 per cent in their late morning deals. London's FTSE was almost flat.&nbsp;

The BSE Sensex erased all gains in a highly volatile session Thursday to end 10 points lower as losses in shares of software exporters and pharmaceutical companies offset gains in capital goods, banking and auto counters, amid unabated foreign fund outflows.

The BSE Sensex erased all gains in a highly volatile session Thursday to end 10 points lower as losses in shares of software exporters and pharmaceutical companies offset gains in capital goods, banking and auto counters, amid unabated foreign fund outflows. The benchmark indices swung between gains and losses, with Sensex gyrating over 376 points both ways on alternate bouts of buying and selling. The 30-share index opened higher at 34,650.63 points and advanced to 34,679.93 points amid sustained buying by domestic institutional investors (DIIs), better-than-expected corporate earnings and positive global cues. It, subsequently, slipped into the negative zone to hit a low of 34,303.38 points as participants began booking profits and finally settled 10.08 points, or 0.03 per cent, lower at 34,431.97. The gauge had climbed 550.92 points Wednesday. Similarly, the NSE Nifty after shuttling between 10,441.90 and 10,341.90, ended 6.15 points, or 0.06 per cent down at 10,380.45. Market commenced the session on a strong footing on easing concerns around the rift between the government and RBI. However, emergence of profit-booking at every rise reversed early gains. Market was range-bound despite a fall in oil prices and strengthening rupee as investors remain focused on quarterly earnings, analysts said. Selling was more pronounced in information technology and pharmaceutical sector stocks amid recovery in the rupee. Shares of software services exporters were beaten down by the stronger rupee. The domestic currency firmed as much as 35 paise at 73.60 against the dollar (intra-day) at the forex market. Among Sensex constituents, Infosys emerged worst performer by plunging 2.90 per cent, Wipro shed 0.47 per cent and TCS down 0.15 per cent. Other laggards include Coal India falling 1.90 per cent, NTPC 1.85 per cent, Sun Pharma 1.31 per cent, Asian Paint 0.82 per cent, ITC Ltd 0.82 per cent, Kotak Bank 0.82 per cent, ICICI Bank 0.48 per cent, HDFC 0.44 per cent, RIL 0.42 per cent, HUL 0.40 per cent and HDFC Bank 0.03 per cent. Private-sector lender Yes Bank was the top gainer in the Sensex pack by surging 8.35 per cent in its biggest daily gain since October 11. Shares of Larsen and Toubro (L&T) climbed 2.65 per cent after the company reported 28.36 per cent jump in its consolidated net profit for the quarter ended September, 2018. Also, Axis Bank, IndusInd Bank, SBI, PowerGrid, Vedanta Ltd, Tata Steel, ONGC, and Adani Ports gained up to 3.51 per cent. Auto stocks, too, were in better shape after companies posted sales numbers for October. Shares of the country's largest car maker Maruti Suzuki, gained 1.52 per cent after the company Thursday reported a marginal increase in sales at 1,46,766 units in October. Stocks of other automakers such as Hero MotoCorp, Bajaj Auto and Tata Motors too recorded gains of up to 1.22 per cent. M&M, however, ended lower. The broader markets were in a better form with the small-cap index rising by 0.99 per cent, and mid-cap index gaining 0.73 per cent. According to analysts, currently many stocks are trading at oversold region while turnaround will happen on the basis of change in sector outlook or revival in earnings. Signs of turnaround were seen in mid and small cap which continue to outperform the main indices, they added. Among sectoral indices, the BSE IT index emerged worst performer by falling 1.78 per cent, followed by Teck shedding 1.60 per cent, FMCG 0.65 per cent and healthcare 0.64 per cent. However, capital goods index gained the most by rising 2.34 per cent, realty (2.27 per cent), metal (1.29 per cent), infrastructure (1.227 per cent), consumer durables (1.03 per cent) and banks (0.8917 per cent), PSU (0.85 per cent), power (0.80per cent), oil & gas (0.70 per cent) and auto (0.05 per cent). In the Asian region, Hong Kong's Hang Seng surged 1.75 per cent, Singapore up 1.76 per cent, Taiwan gained 0.43 per cent, Shanghai Composite Index up 0.13 per cent. However, Japan's Nikkei fell 1.06 per cent and Korea shed 0.26 per cent. In the Eurozone, Frankfurt's DAX was higher by 0.62 per cent, while Paris CAC 40 rose 0.31 per cent in their late morning deals. London's FTSE was almost flat.

Sensex ends in red after choppy trade; IT, pharma stocks top losers

The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit.

At the interbank foreign exchange, after opening lower at 73.58, rupee weakened further to quote at 73.61 against the dollar registering a fall of 16 paise over its pervious close.

The rupee ended almost flat at 73.45 against the US dollar Monday.

The dollar's weakness against some currencies overseas and easing crude oil prices, however, restricted the rupee fall, forex traders said.

Globally, Brent crude, the international benchmark, was trading 0.36 per cent down at USD 77.06 per barrel.

On a net basis, foreign investors pulled out Rs 2,230.79 crore from equity markets Monday, as per provisional data.

Meanwhile, the benchmark BSE Sensex plunged 135.93 points, to 33,931.47 in the opening trade.

The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows. Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit. At the interbank foreign exchange, after opening lower at 73.58, rupee weakened further to quote at 73.61 against the dollar registering a fall of 16 paise over its pervious close. The rupee ended almost flat at 73.45 against the US dollar Monday. The dollar's weakness against some currencies overseas and easing crude oil prices, however, restricted the rupee fall, forex traders said. Globally, Brent crude, the international benchmark, was trading 0.36 per cent down at USD 77.06 per barrel. On a net basis, foreign investors pulled out Rs 2,230.79 crore from equity markets Monday, as per provisional data. Meanwhile, the benchmark BSE Sensex plunged 135.93 points, to 33,931.47 in the opening trade.

Rupee falls 16 paise to 73.61 against US dollar in early trade

The rupee weakened by 17 paise to 73.44 against the US dollar in early trade Friday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit.

On Thursday, the local currency had depreciated by 11 paise to close at 73.27 against the US dollar due to steady capital outflows and sharp decline in domestic equities amid intensifying geopolitical tensions.

Meanwhile, on a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore Thursday, provisional data showed.

The benchmark BSE Sensex fell 157.17 points, or 0.47 per cent to 33,532.92 in early trade Friday.

The rupee weakened by 17 paise to 73.44 against the US dollar in early trade Friday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

The rupee weakened by 17 paise to 73.44 against the US dollar in early trade Friday, amid increased demand of the American currencies from importers and sustained foreign fund outflows. Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit. On Thursday, the local currency had depreciated by 11 paise to close at 73.27 against the US dollar due to steady capital outflows and sharp decline in domestic equities amid intensifying geopolitical tensions. Meanwhile, on a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore Thursday, provisional data showed. The benchmark BSE Sensex fell 157.17 points, or 0.47 per cent to 33,532.92 in early trade Friday.

Rupee falls 17 paise to 73.44 against US dollar in early trade

Commerce Minister Suresh Prabhu on Friday said that China has agreed to increase its imports from the country.

"Global disruptions offer a chance to increase Indian exports," Prabhu said at an event organised by the Confederation of Indian Industries (CII).

Prabhu said Chinese authorities will hold a meeting in November specifically with Indian exporters to address their concerns relating to market access and trade regulations.

India's trade deficit with China is its widest with any country, with large amounts of electronics and other items flowing across the border with its northern neighbour.

The Indian government said on Thursday it is set to boost exports of rice and rapeseed to China to try to narrow this gap.

Commerce Minister Suresh Prabhu on Friday said that China has agreed to increase its imports from the country. "Global disruptions offer a chance to increase Indian exports," Prabhu said at an event organised by the Confederation of Indian Industries (CII).

Commerce Minister Suresh Prabhu on Friday said that China has agreed to increase its imports from the country. "Global disruptions offer a chance to increase Indian exports," Prabhu said at an event organised by the Confederation of Indian Industries (CII). Prabhu said Chinese authorities will hold a meeting in November specifically with Indian exporters to address their concerns relating to market access and trade regulations. India's trade deficit with China is its widest with any country, with large amounts of electronics and other items flowing across the border with its northern neighbour. The Indian government said on Thursday it is set to boost exports of rice and rapeseed to China to try to narrow this gap.

China has agreed to increase imports from India: Commerce Minister Suresh Prabhu

Japan's Prime Minister Shinzo Abe makes a rare trip to China this week hoping improved relations will lead to new economic partnerships, as the two countries come under US pressure on trade.

The visit is the first by a Japanese premier since 2011 and is part of a years-long process of repairing ties in the wake of a disastrous falling-out in 2012, when Tokyo "nationalised" disputed islands claimed by Beijing.

The incident prompted anti-Japanese riots in China, and kicked off a frosty spell that has only gradually and recently begun to thaw.

Since an awkward 2014 encounter between Abe and Chinese President Xi Jinping on the sidelines of a summit, there have been ministerial visits by both sides and a softening of rhetoric.

But Abe's trip will be a test of how far the two countries have come, and the need for progress is all the more urgent as US President Donald Trump levies tariffs and rattles sabres on trade with both China and Japan.

"The trade war with the US seems like it's helping bring them together a bit," said Kristin Vekasi, assistant professor of political science at the University of Maine, and an expert on Japan-China ties.

"In that sense, they're actually on the same side... and if Japan leans away from the US because of decreased economic opportunities, there's a potential for closer ties with China," she told AFP.

- Complementary economies - 
The two leaders are likely to focus on a range of potential deals, including joint investments in infrastructure in regional nations including Indonesia and the Philippines.

Abe has signalled some interest in China's massive "Belt and Road Initiative", which funds major infrastructure work, but experts said a concrete deal on Japanese participation was unlikely for now.

Both sides are keen to improve economic cooperation, with Japanese business eager for increased access to China's massive market, and Beijing interested in Japanese technology and corporate knowhow.

"Japan and China have really nicely complementary economies, and they can benefit hugely from having closer trade and investment ties," said Vekasi.

"They'll try and bring home some economic tangibles. That's generally where they've been able to successfully cooperate in the past."

The two leaders may find less common ground outside of the economic realm, with tensions lingering over territorial issues.

Just days before Abe's trip, Tokyo lodged an official complaint after Chinese ships cruised around the disputed islands that Tokyo calls the Senkaku and Beijing labels the Diaoyu islands.

And in September, Japan carried out its first submarine drills in the disputed South China Sea.

Japan does not border the South China Sea but has expressed concern about Chinese military activity there.

Panda diplomacy? 
Abe and Xi are likely to simply avoid those thornier issues, said Kazuyuki Suwa, a professor of political science at the University of Shizuoka.

"Neither side will make any compromises... They will say what they need to say, and won't likely agree to go beyond that," he told AFP.

"The relationship is a mixture of cooperation and confrontation, and that will stay the same."

Much of the meeting will be about optics, with both men looking for the symbolic boost that the summit will provide.

Abe will also be hoping to extract a pledge that China will make good on plans for Xi to pay a reciprocal visit to Japan next year.

If he succeeds, "that itself should be called one of the major achievements of this trip," Suwa said.

And there may be other diplomatic tools at the ready as well.

When Chinese Prime Minister Li Keqiang visited Japan earlier this year, he announced a gift of a pair of rare wild crested ibises, which arrived this month.

Japanese media have reported Abe is hoping that his visit will produce a bigger bonanza in the form of some panda diplomacy, with zoos in Sendai and Kobe apparently angling for new additions. 
&nbsp;

Japan's Prime Minister Shinzo Abe makes a rare trip to China this week hoping improved relations will lead to new economic partnerships, as the two countries come under US pressure on trade.

Japan's Prime Minister Shinzo Abe makes a rare trip to China this week hoping improved relations will lead to new economic partnerships, as the two countries come under US pressure on trade. The visit is the first by a Japanese premier since 2011 and is part of a years-long process of repairing ties in the wake of a disastrous falling-out in 2012, when Tokyo "nationalised" disputed islands claimed by Beijing. The incident prompted anti-Japanese riots in China, and kicked off a frosty spell that has only gradually and recently begun to thaw. Since an awkward 2014 encounter between Abe and Chinese President Xi Jinping on the sidelines of a summit, there have been ministerial visits by both sides and a softening of rhetoric. But Abe's trip will be a test of how far the two countries have come, and the need for progress is all the more urgent as US President Donald Trump levies tariffs and rattles sabres on trade with both China and Japan. "The trade war with the US seems like it's helping bring them together a bit," said Kristin Vekasi, assistant professor of political science at the University of Maine, and an expert on Japan-China ties. "In that sense, they're actually on the same side... and if Japan leans away from the US because of decreased economic opportunities, there's a potential for closer ties with China," she told AFP. - Complementary economies - The two leaders are likely to focus on a range of potential deals, including joint investments in infrastructure in regional nations including Indonesia and the Philippines. Abe has signalled some interest in China's massive "Belt and Road Initiative", which funds major infrastructure work, but experts said a concrete deal on Japanese participation was unlikely for now. Both sides are keen to improve economic cooperation, with Japanese business eager for increased access to China's massive market, and Beijing interested in Japanese technology and corporate knowhow. "Japan and China have really nicely complementary economies, and they can benefit hugely from having closer trade and investment ties," said Vekasi. "They'll try and bring home some economic tangibles. That's generally where they've been able to successfully cooperate in the past." The two leaders may find less common ground outside of the economic realm, with tensions lingering over territorial issues. Just days before Abe's trip, Tokyo lodged an official complaint after Chinese ships cruised around the disputed islands that Tokyo calls the Senkaku and Beijing labels the Diaoyu islands. And in September, Japan carried out its first submarine drills in the disputed South China Sea. Japan does not border the South China Sea but has expressed concern about Chinese military activity there. Panda diplomacy? Abe and Xi are likely to simply avoid those thornier issues, said Kazuyuki Suwa, a professor of political science at the University of Shizuoka. "Neither side will make any compromises... They will say what they need to say, and won't likely agree to go beyond that," he told AFP. "The relationship is a mixture of cooperation and confrontation, and that will stay the same." Much of the meeting will be about optics, with both men looking for the symbolic boost that the summit will provide. Abe will also be hoping to extract a pledge that China will make good on plans for Xi to pay a reciprocal visit to Japan next year. If he succeeds, "that itself should be called one of the major achievements of this trip," Suwa said. And there may be other diplomatic tools at the ready as well. When Chinese Prime Minister Li Keqiang visited Japan earlier this year, he announced a gift of a pair of rare wild crested ibises, which arrived this month. Japanese media have reported Abe is hoping that his visit will produce a bigger bonanza in the form of some panda diplomacy, with zoos in Sendai and Kobe apparently angling for new additions.

Under pressure on trade from US, Japan PM to make first visit to China in 7 years

Continuing its slide, the rupee weakened by 3 paise to 73.64 against the US dollar Friday due to increased demand for the American currency from importers.

At the Interbank Foreign Exchange, the rupee opened lower at 73.62 and slipped further to 73.64 against the dollar, showing a fall of 3 paise.

Traders said besides sustained demand of the US currency from importers, a lower opening in the domestic equity markets also weighed on the local unit.

The losses in the domestic currency were however limited as the US dollar weakened against some currencies overseas.

On Wednesday, the local currency had ended lower by 13 paise to 73.61 against the US dollar.

Forex market remained shut on Thursday on account of "Dussehra".

Meanwhile, on a net basis, foreign funds bought shares worth Rs 140.02 crore, while domestic institutional investors sold shares to the tune of Rs 343.11 crore Wednesday, provisional data showed.

The benchmark BSE Sensex fell 408.45 points, or 1.17 per cent, to 34,371.13 in the opening trade.&nbsp;

Continuing its slide, the rupee weakened by 3 paise to 73.64 against the US dollar Friday due to increased demand for the American currency from importers. At the Interbank Foreign Exchange, the rupee opened lower at 73.

Continuing its slide, the rupee weakened by 3 paise to 73.64 against the US dollar Friday due to increased demand for the American currency from importers. At the Interbank Foreign Exchange, the rupee opened lower at 73.62 and slipped further to 73.64 against the dollar, showing a fall of 3 paise. Traders said besides sustained demand of the US currency from importers, a lower opening in the domestic equity markets also weighed on the local unit. The losses in the domestic currency were however limited as the US dollar weakened against some currencies overseas. On Wednesday, the local currency had ended lower by 13 paise to 73.61 against the US dollar. Forex market remained shut on Thursday on account of "Dussehra". Meanwhile, on a net basis, foreign funds bought shares worth Rs 140.02 crore, while domestic institutional investors sold shares to the tune of Rs 343.11 crore Wednesday, provisional data showed. The benchmark BSE Sensex fell 408.45 points, or 1.17 per cent, to 34,371.13 in the opening trade.

Rupee falls 3 paise to 73.64 against US dollar in early trade

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