Business
1) India Nifty Futures Rise as Asian Stocks Climb on U.S. Optimism
(Bloomberg) -- Indian stock-index futures rose, tracking gains in Asian equities after U.S. consumer spending rose by the most in three months. SGX Nifty Index futures for December delivery added 0.5 percent to 7,825 at 10:10 a.m. in Singapore. The underlying Nifty 50 Index and the S&P BSE Sensex both dropped 0.6 percent on Monday. The Bank of New York Mellon India ADR Index of U.S.- traded shares rose 1.1 percent. Most Asian benchmark indexes rose after a report ...
2) Brotherly Love Adds Bonus to Anil Ambani's Debt-Reduction Plans
(Bloomberg) -- Billionaire Anil Ambani's plans to reduce debt at Reliance Communications Ltd. by selling cellular towers and property are winning support from bond and stock investors. Signs of cooperation with his elder brother are only adding to the optimism. India's fourth-largest carrier has signed a pact to sell its tower business, sold flats near Mumbai and plans to dispose of real estate in New Delhi. It is also looking to boost revenue by ...
3) Modi Seeks Russian Crown Jewel in Decade's Biggest Defense Deal
(Bloomberg) -- Indian Prime Minister Narendra Modi heads to Moscow after approving what's set to be his nation's biggest weapons deal with Russia since 2001, reaffirming a military partnership that newer suppliers like the U.S. will find difficult to dislodge. The S-400 air defense missile systems, which India plans to buy, are among the "crown jewels" of Russia's defense capability, according to Jon Grevatt, Asia-Pacific defense- industry ...
4) INDIA DAYBOOK: Alkem, Dr. Lal Trading Debut, Term Repo, T-Bills
(Bloomberg) -- Today: RBI holds term-repo, t-bills auctions; Alkem Laboratories, Dr. Lal PathLabs trading debut; Finance Minister Arun Jaitley, Agriculture Minister Radha Mohan Singh speak. (Please click here to subscribe to India Daybook) WHAT TO WATCH: * Brotherly love adds bonus to Anil Ambani's debt-reduction plans * Modi seeks Russian crown jewel in decade's biggest defense deal * U.S. calls for 256% tariff on steel imports from China * ...
5) Asian Stocks Climb With Oil on Growth Optimism; Won Strengthens
(Bloomberg) -- Asian stocks rose with industrial metals amid growing investor confidence in the U.S. and Chinese economies. South Korea's won strengthened, while oil advanced before American inventory data. The MSCI Asia Pacific excluding Japan Index climbed to a two-week high, with markets in Tokyo shut for a holiday. Copper and nickel each gained at least 0.2 percent, while oil increased above $36 a barrel in New York and the won appreciated for a third day. Vietnam's ...
6) INDIA OPTIONS WRAP: VIX Index Advances as Nifty Retreats
(Bloomberg) -- India's VIX index +1.8% to 14.48 yday vs 3- mo. avg 17.48. * Nifty put/call open interest ratio 0.8 vs 3-mo. avg 0.92 * Bank Nifty ATM implied volatility 15.5% vs 3-mo. avg 21.7% * Foreigners sell net $26.4m of index futures * Foreigners buy $103.4m of index options * Foreigners buy $6.4m of stk futures * Foreigners sell $4.6m of stk options * Foreigners buy $43.3m of stks on Dec. 21; YTD net purchases $2.8b * CNX Nifty futures OI ...
7) Global Funds Cut Indian, Korean and Thailand Bond Holdings
(Bloomberg) -- International investors reduced holdings of Indian rupee-denominated debt by $45.6m on Dec. 21, according to Sebi data; they were net buyers of $43.3m in local equities on Dec. 21, according to exchange data. * Global funds were net sellers of 61.4b won ($52.3m) in South Korea-listed bonds on Dec. 21, according to Financial Supervisory Service data; they were net sellers of $13.2m in local equities yesterday: exchange data * Foreign funds were net ...
8) U.S. Calls for 256% Tariff on Steel Imports From China
(Bloomberg) -- Corrosion-resistant steel imports from China were sold at unfairly low prices and will be taxed at 256 percent, according to a preliminary finding of the U.S. Department of Commerce. Imports from India, South Korea and Italy will be taxed at lower rates, the agency said Tuesday in a statement. Imports from Taiwan and Italy's Marcegaglia SpA will not face anti- dumping tariffs. The government found dumping margins of 3.25 percent for most South Korean ...
9) Disruptors Pour In To India's Tea Market
(Bloomberg) -- <li>When winter comes to New Delhi, the smog settles down on the city and the morning is a grim ritual of honking cars and hacking coughs, there truly is nothing like stopping for a hot cup of masala chai. Photographer: Dhiraj Singh/Bloomberg</li><li> An ancient-looking mortar and pestle — or just a mallet — is used to crush cardamom, black pepper, cloves and, depending on the joint, star anise or cinnamon. That goes into a pot with ...
10) IRS Aims to Accept Requests for India APAs Starting Feb. 16
(BNA) -- The Internal Revenue Service hopes to begin accepting applications for bilateral advance pricing agreements with India on Feb. 16, an official told Bloomberg BNA. That date would allow taxpayers time to file before April 1, the ...
11) Exide Industries Ltd Raised to 'Buy' at Antique Stock Broking
(Bloomberg) -- Exide Industries Ltd (EXID IN) was raised to "Buy" from "Hold" at Antique Stock Broking by equity analyst Basudeb Banerjee. The target price is INR 180 per share.
12) Doha Must Continue With No New Issues, India Says
(BNA) -- Commerce and Industry Minister Nirmala Sitharaman said Dec. 22 India took a clear stand to ensure the Doha Development Agenda would continue and voted against the inclusion of any new issues during the recently concluded ministerial meeting of the World Trade Organization. In remarks before the lower house of the Indian Parliament, Sitharaman said introduction of new issues would require an agreement from all WTO member countries, and India will oppose it. ...
13) Bendable Screens, Virtual Reality And Moonshots: Asia Tech 2016
(Bloomberg) -- A roller-coaster ride in financial markets, deal frenzy among Chinese Web operators spurred on by Alibaba and Tencent, the rise of Asian unicorns and a baking-hot semiconductor M&A spree: 2015 was a frenetic year for the region's technology sector. Fasten your seat-belts, there's more excitement to come in 2016. Here are a selection of predictions for the region from Bloomberg's Asia Technology team: Folding Phones Arrive ...
14) Tata Enters Talks to Sell European Long-Products Steel Business
(Bloomberg) -- Tata Steel Ltd. has entered exclusive talks with Greybull Capital LLP to sell its European long-products steel business. The agreement covers its Scunthorpe steelworks in England, as well as mills in Teesside and northern France, the Indian company's U.K. subsidiary said in a statement Tuesday. Tata said it's too early to know the outcome of the negotiations. The producer has been seeking to sell the operations that make
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