China's telecommunications giant Huawei on Tuesday thanked the Indian government for permitting it to take part in the upcoming trials for 5G networks. China has been asking India to take independent and objective decision to permit Huawei 5G services in the backdrop of the US calling on its friends and allies not to permit the top Chinese telecom firm, highlighting security issues. Pertinently,&nbsp;Huawei's&nbsp;CFO Meng Wanzhou&nbsp;has been arrested in Canada under domestic American law for violations of US sanctions against Iran.&nbsp;Huawei&rsquo;s participation in the 5G trials in India, which is the next biggest telecom market after China, has been one of the key topics in the India-China talks at various levels.

China's telecommunications giant Huawei on Tuesday thanked the Indian government for permitting it to take part in the upcoming trials for 5G networks. China has been asking India to take independent and objective decision to permit Huawei 5G services in the backdrop of the US calling on its friends and allies not to permit the top Chinese telecom firm, highlighting security issues. Pertinently, Huawei's CFO Meng Wanzhou has been arrested in Canada under domestic American law for violations of US sanctions against Iran. Huawei’s participation in the 5G trials in India, which is the next biggest telecom market after China, has been one of the key topics in the India-China talks at various levels.

India&rsquo;s richest 1% hold more than four-times the wealth held by 953 million people who make up for the bottom 70% of the country&rsquo;s population, a study by Oxfam said on Monday. Releasing the study 'Time to Care' ahead of the 50th Annual Meeting of the World Economic Forum (WEF), rights group Oxfam also said the world&rsquo;s 2,153 billionaires have more wealth than the 4.6 billion people who make up 60% of the planet&rsquo;s population.

Amazon Founder and CEO Jeff Bezos on Friday announced that the e-commerce giant will create 10 lakh new jobs in India by 2025 through continued investments in technology, infrastructure and its logistics network. The new jobs are on top of the 7 lakh jobs Amazon has already created in the country since 2013, the company said in a statement.
This comes a day after Commerce and Industry Minister Piyush Goyal snubbed him during a public event saying that they are not doing India a favour by investing a billion dollars.&nbsp;On Wednesday, Bezos announced to invest $1 billion to help&nbsp;MSMEs&nbsp;across India. Clarifying&nbsp;his remarks, the minister on Friday said that investments are welcome but they should be within the law.

A Pennsylvania court on Friday slashed a ₹8 billion ruling against US pharmaceutical giant Johnson &amp; Johnson, imposed by a jury because the company failed to warn that a psychiatric drug could cause breast growth in men.&nbsp;The court said the company now only is liable for punitive damages of ₹6.8 million.&nbsp;The company though has said that although the court "appropriately reduced the excessive punitive damages award, we will continue to move ahead with an appeal of this verdict." The company is facing a series of complaints in US courts for failing to properly warn of Risperdal's side effects.

Tech giant Google's parent company Alphabet has become the fourth US company to reach a $1 trillion market cap. The news comes just over a month after Google co-founders Larry Page and Sergey Brin handed over control of Alphabet to then Google CEO Sundar Pichai. In spite of a rocky couple of years at the company including sexual misconduct allegations and a protest that saw 20,000 Google employees staging a walkout, Wall Street analysts are predicting a fourth quarter revenue of $46.9 billion, a year-over-year increase of almost 20%. Rival American tech giants have already hit the $1 trillion mark, namely Apple, Amazon and Microsoft, in that order.

As a measure to boost domestic SMEs, the Commerce and Industry Ministry in its budget recommendations has proposed a hike in customs duty on over 300 items like toys, furniture, footwear, coated paper, rubber items among other. Besides giving relief to the domestic industry and boosting employment, the move is expected to keep imports down and help to raise revenue.
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The Dow and S&amp;P 500 edged to records on Wednesday following a volatile session after the US and China signed a long-awaited trade agreement. The Dow Jones Industrial Average gained 0.31% to finish at 29,030.22, and the broad-based S&amp;P 500 added 0.19% to 3,289.30.

US President Donald Trump on Wednesday refused to roll back the massive tariffs imposed on import of Chinese goods despite having succeeded to sign the first phase of a trade deal with China. During a historic signing ceremony at the White House, Trump said he will roll back the tariffs only if the second phase of the trade deal is signed between the two economic giants.

According to analytics firm Sensor Tower, streaming service Disney+ has raked in nearly $100 million dollars through user spending on mobile platforms in its first two months. The mobile app reportedly has almost 41 million combined downloads on the Apple App Store and Google Play Store, with an estimated $97.2 million in revenue from users on mobile devices. Disney+ can be currently accessed only in US, New Zealand, Australia, Canada and the Netherlands.

Amazon founder and CEO Jeff Bezos on Wednesday said the company will use its global footprint to export $10 billion worth of goods manufactured under the government&rsquo;s Make in India initiative. Amazon aims to achieve this target by 2025, Bezos added.
Speaking on Day 1 of the two-day summit for SMEs&nbsp;organised by Amazon in New Delhi, Bezos also said the global online retailer will invest $1 billion in digitising India&rsquo;s small and medium businesses.

Union Budget 2020-21 is likely to cut the import duty on gold from the current 12.5% with a view to push exports of jewellery. The reduction though is&nbsp;likely to affect the current account deficit, news agencies reported.&nbsp;India is the largest importer of gold which is used i.e India imports 800-900 tonne of gold annually. Gems and jewellery exports declined by about 1.5% to $20.5 billion in April-November this fiscal. The country's gold imports dipped about 3% in value terms to $32.8 billion in 2018-19.&nbsp;

The United States has removed the currency manipulator label it imposed on China last summer, in a sign of easing tensions between the two economic powers after nearly two years of conflict. Just two days before President Donald Trump is set to sign a 'phase one' trade agreement with China, the US Treasury said in its semi-annual report to Congress that the Yuan, also known as Renminbi, has strengthened and Beijing is no longer considered a currency manipulator.

Amazon founder and CEO&nbsp;Jeff Bezos&nbsp;has a packed schedule for his India trip next week, as he meets industrialists, company executives and heads of small businesses.
Over three days, Bezos will review and plan Amazon's operations in the country, as&nbsp;India will be a priority market for the e-retail giant in 2020.
Bezos is also due to&nbsp;meet Prime Minister Narendra Modi and other government officials where he is expected to bring up&nbsp;regulatory issues. He&nbsp;will also attend an event known as 'SMBhav' focusing&nbsp;on small and medium businesses in India.
&nbsp;

Chinese Vice Premier Liu He will travel to Washington on Monday to sign the 'Phase One' trade deal with the United States, news agency PTI&nbsp;reported on Thursday.
Liu, China's top negotiator in the trade war, will be in the US capital from Monday to Wednesday, the report said, a week after President Donald Trump said the agreement would be signed on January 15.

Gold prices in the national capital zoomed by ₹720 on Monday to hit an all-time high level of ₹41,730 per 10 grams following a pick-up in safe-haven demand for the metal amid weak equities and bullish global trends.&nbsp;Silver also witnessed increased buying as it surged ₹1,105 to ₹49,430 per kg from ₹48,325 per kg in the previous trade.&nbsp;Gold had in the previous trade closed at ₹41,010 per 10 grams.

US based investment banking and financial service firm Goldman Sachs has forecast&nbsp;a hefty 200 million 5G smartphone shipments globally in 2020.&nbsp;
The new predicted value is about 20 times more than the sales figure of 2019.
According to estimates, there will be about 1 million new 5G base stations in China this year. This is higher than the original 600,000 prediction by Goldman Sachs.

Oil prices surged, gold hit a more than six-year high and equities tumbled on Monday after the US assassination of a top Iranian general last week fanned fears of a major conflict in the Middle East.
Sensex&nbsp;slipped 1.22% or over 500 points to 40,989 while Nifty plunged 1.21% to 12,078 levels at around 11 AM. Coal India, SBI, ZEE&nbsp;Entertainment, Yes Bank, Hero Motors, Tata&nbsp;Motors and Maruti&nbsp;were among the top Nifty losers.
Brent crude was up 2.7%, crossing $70 per barrel level. On MCX, February gold futures surged 2.3% or&nbsp;₹918 to a record high of&nbsp;₹41,030 per 10 gram. On Friday, gold prices had surged over 2% or&nbsp;₹850 per 10 gram.
Meanwhile, the rupee depreciated 25 paise to 72.05 against the US dollar in morning session.
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The&nbsp;National Payments Corporation of India&nbsp;has launched global offers for all its RuPay International debit and credit&nbsp;card users, under which users can now avail 40% cashback&nbsp;for international POS transactions at merchant outlets.
Users can earn the&nbsp;cashback&nbsp;in UAE, Singapore, Sri Lanka, the UK, the US, Spain, Switzerland and Thailand.
Customers will have to do a minimum transaction of ₹1,000 to be eligible for the&nbsp;cashback, with the maximum capped at ₹4,000 for a single transaction. This essentially means Indians travelling abroad can earn up to ₹16,000 cashback per month.
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London-based Hinduja Group, South America&rsquo;s Synergy Group and a Dubai-based fund are the three potential bidders for bankrupt Jet Airways, according to a report in The Mint.
Lenders to Jet Airways, who have repeatedly extended the deadline to submit expressions of interest, are unwilling to&nbsp;give any more time&nbsp;and have set a final deadline of January 15, for the carrier to be sold.&nbsp;
Jet Air jumps 5% amid reports that the&nbsp;Hinduja Group was likely to bid for airline.&nbsp;
The&nbsp;Hinduja&nbsp;group maintains&nbsp;it&nbsp;is looking to acquire Jet Airways if it is indemnified from the airline&rsquo;s legal liabilities.
&nbsp;

India can explore an annual export potential of $82 billion in twenty products, including electrical equipment and ferro-alloys, in China, according to a report.&nbsp;
India can substantially reduce its trade deficit with China, which stood at $53.56 billion in 2018-19, by enhancing its market share for these products in that country, the report added.&nbsp;
India's overall trade deficit with China declined by 5% in the first eight months of the current financial year.

Cryptocurrency&nbsp;Bitcoin&nbsp;has posted gains of over 90,00,000%&nbsp;since July 2010, making it the decade's best performing asset, according to data compiled by Bloomberg.
The largest digital token which is currently trading at around $7,200, managed to give the best Return-on-Investment despite some huge rallies and crashes.&nbsp;Beginning its&nbsp;2017 at $1000, it rushed above $19,000 by the end of the same year.
But as swiftly as it ran up, it fell even faster by the end of 2018 to&nbsp;$3,000. Yet shortly after its crash, it embarked on another huge rally, this time reaching as high as $13,800 in the summer of 2019.

Huawei thanks Indian Govt for 5G trials permission

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