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A YouTuber, who posted a video which used special effects to show him beheading former BJP spokesperson Nupur Sharma, has apologised for the content.

Faisal Wani, who runs the YouTube channel “Deep Pain fitness”, said in an apology video on June 11 that he did not intend to hurt anyone.

“Like the earlier video was made viral, I hope that this (apology) clip will also be circulated widely,” the man said. “If I have hurt anybody’s feelings, I am extremely sorry.”

Nupur Sharma has caused a huge controversy by making derogatory remarks about Prophet Muhammad during a recent television debate.

Her comments led to massive outrage in India as well as in foreign countries. Many Muslim nations have condemned her remarks.

Amid fierce backlash at home and abroad, the BJP suspended Sharma as its national spokesperson.

India and Iran have "surveyed" the possibilities of settling trade transactions in rupee or through barter system, along with discussing a need to establish a banking mechanism, foreign minister of the Middle Eastern country, Hossein Amir-Abdollahian, said on Thursday.

New Delhi and Tehran have also agreed to "precipitate" investment in the Chabahar Port which is being developed with the help of India, the visiting minister said.

"Yesterday, we discussed with Indian high officials as a special need with my colleague the external (affairs) minister on the need to establish a banking mechanism," Abdollahian said at an event organised by the World Trade Centre here.

The two sides "surveyed" the possibility of trade in local currency, including rupee, or otherwise barter, he added.

He said there are existing mechanisms within the framework of international law which can help in reviving the "banking and financial interaction", pointing out that Tehran has implemented such a mechanism with a dozen countries already.

Abdollahian, who is on a three-day visit to India, addressed industry representatives in the financial capital. His arrival was delayed due to another round of meeting with Indian Minister for External Affairs S Jaishankar on Thursday morning, as per organisers.

"As we speak, we've in mind recognised legal mechanisms that can be conducive for development of trade between india and Iran," the Iranian foreign minister said.

There are "ample opportunities" for India and Iran irrespective of the "unilateral sanctions" imposed by the US, which will not last for long, he added.

Abdollahian, who met Prime Minister Narendra Modi and National Security Advisor Ajit Doval on Wednesday, said New Delhi and Tehran have agreed to "delineate a long term roadmap".

He further said Modi is "way forward" on such thinking about a long-term partnership, and stressed during the meeting that both the countries are already implementing the roadmap even before formalising it.

The foreign minister said there were detailed and forward looking discussions on economic and trade aspects, adding that Indo-Iranian trade was centuries old.

He also said Chabahar Port is a very reliable infrastructure asset and added that it is already functional with help from Indian investment.

"We agreed to precipitate the investment in this port," he said, adding that discussions were also held on energy.

A "special heed" was paid to the capacities in oil, petroleum and gas that exists within Iran, he said.

Iran has kept the domestic trade routes across the country ready and active to help the cause of trade, especially amid the war triggered by Russian invasion of Ukraine, he added.

Indian markets opened over 1% lower tracking a fall in global equities as investors remain concerned about the global economy while awaiting key data on US retail inflation.

At 9.55 am, the benchmark Sensex was down 1.3% or 711 points to 54608 points while the Nifty was 1.24% or 205 points lower at 16274 points.

This comes after the Dow Jones Industrial Average fell 1.94 percent, the S&P 500 lost 2.38 percent and the Nasdaq Composite dropped 2.75 percent overnight. Among Asian shares, Nikkei was down 1.3%, Hang Seng was trading flat, Topix down 1%, Kospi down 1.3%, Jakarta fell 1.2%, and the Philippines lost 2%.

"Global markets are falling as investors remain concerned about the global economy while awaiting key data about inflation. The combination of slowing growth and rising prices has raised concerns of stagflation where growth stalls but inflation drives up prices. Moreover, the Russia-Ukraine crisis continues to impact market sentiments," said Mitul Shah, head of research at Reliance Securities.

Here is a detailed look at the factors sending Indian markets lower:

India data: Investors will wait for April factory output data today and consumer price index data for May on Monday. A Bloomberg poll expects factory output for April to rise 5% year on year from 1.9% a month ago and CPI to grow 7.1% for May versus 7.79% in April.

US CPI data: Investors are waiting for US CPI inflation data for May today.   They expect the US Federal Reserve to hike rates by 50 basis points next week, especially if data confirms an elevated inflation reading.

ECB meeting: The European Central Bank on Thursday confirmed its intention to hike interest rates for the first time since 2011 and downgraded its growth forecasts. ECB aims to raise key interest rate by 25 basis points at the July meeting and targets a further hike in the September meeting, saying the scale of that increment would depend on the evolving trajectory of the medium-term inflation outlook. It has also ended its bond buying stimulus.

Crude oil: Currently trading over $120 bbl fuelled by intensifying geopolitical tensions between Russia and Ukraine, and tightening by global central banks. As oil boils, India's current account deficit is likely to hit a three-year high of 1.8% or $43.81 billion in FY22, as against a surplus of 0.9% or $23.91 billion in FY21, according to India Ratings.

RBI policy: Reserve Bank of India signalled more rate hikes to come in its inflation fight. On Wednesday, RBI raised the key interest rate for a second straight month and pledged to withdraw the pandemic-era accommodation as it steps up its fight to tame prices that have been running above its target band since the beginning of the year. In the latest move, the rate setting panel unanimously raised the repurchase rate by 50 basis points to 4.90%.

Covid cases: Investors were also worried by Covid cases rising in India. The nation registered its highest daily spike in nearly three months with 7,584 new Covid cases as the country witnesses a fresh surge in several parts. Maharashtra, the state most affected, recorded 2,813 cases, the sharpest rise any state saw in 24 hours. This was followed by Kerala, which recorded 2,193 cases

After a surprise rate hike in May in an off-cycle meeting, the Reserve Bank of India's Monetary Policy Committee on Wednesday unanimously voted to increase the benchmark policy rate by 50 basis points. Thus, the repo rate now stands at 4.90 per cent.

Consequently, the standing deposit facility rate stands adjusted to 4.65 per cent. The marginal standing facility rate and the bank rate stand adjusted to 5.15 per cent. The Monetary Policy Committee voted unanimously to remain focused on the withdrawal of accommodation in order to ensure inflation remains within range going forward, while supporting growth.

The rupee slipped 10 paise to 77.78 against the US dollar in early trade on Thursday, as elevated crude oil prices and persistent foreign capital outflows weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened at 77.74 against the American dollar, then lost ground to quote at 77.78, registering a fall of 10 paise from the last close.

On Wednesday, the rupee recovered from its record low to close 10 paise higher at 77.68 against the American currency. Rupee is hovering around its lifetime low of 77.78 against the US dollar tracking the strength of the American currency in the overseas market and firm crude oil prices.

Rupee opened on a bearish note as crude oil neared USD 125 per barrel, Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, said. "Only RBI is supporting the rupee while the flows have totally dried out. Foreign Portfolio Investors (FPIs) continue the sell-mode for equities and buy-mode for US dollar," Bhansali said.

Moreover, Asian currencies are trading on a weak note, Bhansali said, adding that there is "no effect of a rate hike by RBI on Wednesday on the rupee as buyers of the dollar are in abundance." Global oil benchmark Brent crude futures rose 0.26 per cent to USD 123.90 per barrel.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent lower at 102.52. On the domestic equity market front, the 30-share Sensex was trading 163.34 points or 0.30 per cent lower at 54,729.15, while the broader NSE Nifty declined 41.00 points or 0.25 per cent to 16,315.25.

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 2,484.25 crore, as per stock exchange data.

India and Vietnam on Wednesday inked a vision document to further broad-base the scope and scale of bilateral defence cooperation after Defence Minister Rajnath Singh held ”fruitful” talks with his Vietnamese counterpart General Phan Van Giang. The defence minister arrived in Vietnam on Tuesday on a three-day visit.

”Had an excellent meeting with General Phan Van Giang, the Defence Minister of Vietnam. We renewed interactions on expanding bilateral cooperation. Our close Defence and Security cooperation is an important factor of stability in the Indo-Pacific region,” Singh tweeted.

The joint vision document provides for significant expansion of defence tiesec in diverse areas by 2030, officials said. ”We had wide-ranging discussions on effective and practical initiatives to further expand bilateral Defence engagements and regional and global issues,” Singh said. ”After our fruitful deliberations, we signed the Joint Vision Statement on India-Vietnam Defence Partnership towards 2030, which will significantly enhance the scope and scale of our defence cooperation,” he added.

The signing of the vision document to expand bilateral defence and security ties came amid growing congruence between the two countries in the maritime security domain amid China’s increasing muscle-flexing in the region.

Singh is also scheduled to call on Vietnamese President Nguyen Xuan Phuc and Prime Minister Pham Minh Chinh. Singh is also scheduled to call on Vietnamese President Nguyen Xuan Phuc and Prime Minister Pham Minh Chinh. Vietnam, an important country of the ASEAN (Association of Southeast Asian Nations), has territorial disputes with China in the South China Sea region.

Billionaire Gautam Adani and India's biggest hospital operators, Apollo Hospitals Enterprise Ltd are assessing bids to take a majority stake in Metropolis Healthcare Ltd, a media report said.

Adani and Apollo's deal with Metropolis could be at least worth $1 billion or Rs 7,765 crore, given the market captalisation of the diagnostic chain and its operations, Mint reported quoting two people familiar with the matter.

This comes after the Adani Group, one of India’s largest business conglomerate, last month announced its foray into the healthcare sector and reports suggested that it is planning to acquire large hospitals and diagnostic assets. Adani Enterprises in May said it has incorporated a wholly-owned subsidiary, Adani Health Ventures (AHVL), for this purpose.

To gain a foothold in the sector, Adani Group has reportedly earnmarked $4 billion for the business.

The Adani Group, which has more than $20 billion in annual revenue, is also interested in entering the pharmacy space, through both

India's surprise ban on wheat exports has prompted rice traders to increase purchases and place unusual orders for longer-dated deliveries, fearing the world's top rice exporter may restrict those shipments as well, four exporters told Reuters.

In the last two weeks, traders have signed contracts to export 1 million tonnes of rice for shipments from June through September and are opening letters of credit (LCs) quickly after signing deals to ensure the contracted quantity will be sent even if India restricts exports, the people said.

Finance minister Nirmala Sitharaman said that the country's growth will be driven by fiscal spending. Participating virtually in the second BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under the China chairmanship, Sitharaman said BRICS should continue to serve as a platform to engage in dialogues and facilitate exchange of experiences, concerns and ideas for rebuilding a sustainable and inclusive growth trajectory.

Speaking on India's growth outlook, she said the economic growth will continue to be supported by fiscal spending along with an investment push, imparting momentum to the economy based on the idea of growth at macro level complemented by all-inclusive welfare at micro level.

Finance minister Nirmala Sitharaman said that the country's growth will be driven by fiscal spending. Participating virtually in the second BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under the China chairmanship, Sitharaman said BRICS should continue to serve as a platform to engage in dialogues and facilitate exchange of experiences, concerns and ideas for rebuilding a sustainable and inclusive growth trajectory.

Speaking on India's growth outlook, she said the economic growth will continue to be supported by fiscal spending along with an investment push, imparting momentum to the economy based on the idea of growth at macro level complemented by all-inclusive welfare at micro level.

The government has proposed to significantly step up the public investment by raising capital expenditure by 35.4 per cent to Rs 7.5 lakh crore or 2.9 per cent of the GDP in the current financial year.

The BRICS Finance Ministers and Central Bank Governors also discussed other legacy BRICS finance issues such as infrastructure investment, New Development Bank (NDB), BRICS Contingent Reserve Arrangement (CRA) etc.

Fuel prices have remained unchanged ever since the government on May 21 announced an excise duty cut on petrol by a record Rs 8 per litre and on diesel by Rs 6 per litre.

The cut translated into a reduction of Rs 9.5 a litre for petrol in Delhi and Rs 7 a litre for diesel. Petrol in Delhi now costs Rs 96.72 a litre as against Rs 105.41 a litre before, while diesel costs Rs 89.62 a litre as opposed to Rs 96.67 earlier.

In Mumbai, one litre of petrol costs Rs 111.35 and diesel Rs 97.28. In Chennai, petrol and diesel prices are Rs 102.63 and Rs 94.24 per litre, respectively. In Kolkata, petrol is Rs 106.03, and diesel is Rs 92.76 per litre.

Oil marketing companies are passing on the excise duty cut to consumers despite losing Rs 13.08 a litre on petrol and Rs 24.09 per litre on diesel. India meets 80 percent of its oil needs through imports.

Meanwhile, global oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to accelerate its output increases over the next two months.

Brent crude futures were up $1.80, or 1.5%, at $121.52 a barrel at 2319 GMT after touching an intraday high of $121.95, extending a 1.8% gain from Friday.

U.S. West Texas Intermediate (WTI) crude futures were up $1.63, or 1.4%, at $120.50 a barrel after hitting a three-month high of $120.99. The contract gained 1.7% on Friday.

Saudi Arabia raised the official selling price (OSP) for its flagship Arab light crude to Asia to a $6.50 premium versus the average of the Oman and Dubai benchmarks, up from a premium of $4.40 in June, state oil produce Aramco said on Sunday.