Distressed loan buyers muddy India's bad debt picture
Set up over a decade ago to absorb India's mountain of distressed loans, asset reconstruction companies have done little to recover cash or relieve a debt-choked banking system.
Private equity set to extend India surge in 2016 as debt-laden firms offload assets
Continued asset sales by India's most indebted firms should help private equity players notch up a bumper 2016 in Asia's third-largest economy, with more and larger deals sealing a revival begun with record investments this year.
India pharma investors think small as U.S. compliance woes hit heavyweights
Investors in India's $15 billion pharmaceutical industry are favoring smaller firms with little or no exposure to the United States, where increasingly tight regulatory controls have burnt two of the country's biggest drugmakers over the past month.
India savers in dark over Sahara's latest shadow banking schemes
In 2004, Khitish Kumar Pandey took 10,000 rupees ($150) out of his pension and put it into a savings plan run by India's embattled Sahara conglomerate. The Sahara agent told him his money would triple in 10 years.
Reliance Comm and Aircel in talks to merge Indian mobile businesses
Reliance Communications and Aircel have begun talks to combine their wireless telecom operations to create India's second largest mobile operator as intensifying competition fuels consolidation in a crowded market.
Tata Steel in talks to sell UK-based unit to Greybull Capital
Britain's troubled steel sector received a boost on Tuesday with news that Tata Steel is in talks to sell its struggling British-based unit to investment firm Greybull Capital, according to statements from the two firms.
GLOBAL TOP STORIES
Consumer, business spending support U.S. third-quarter growth
The U.S. economy grew at a fairly healthy clip in the third quarter as strong consumer and business spending offset efforts by businesses to reduce an inventory glut, underscoring its resilience despite a raft of headwinds.
In China's jewellery hub, gold loses sparkle for wary buyers
As Chinese consumers cut back on gold purchases for a second year in a row, nowhere is the slowdown being felt more than in the country's once-bustling jewellery manufacturing and retail hub of Shuibei.
Europe's bank rescue rules risk rebounding on governments
New European Union rules on bank rescues, aimed at ending spectacular bailouts with public money, are already facing a political backlash on worries they may end up hurting small, unsophisticated investors.
STATE OF THE MARKETS
The SGX Nifty Futures was trading at 7,823.50, up 0.52 percent from its previous close.
The Indian rupee may edge higher against the U.S. dollar, helped by potential gains in local share indices. The currency is seen rangebound amid thin volume, as investors are away for Christmas holidays later this week. - NewsRise
Indian sovereign bonds are likely to open lower as investors may defer purchases ahead of holidays and the weekend, amid lingering concerns over the federal government's fiscal consolidation plans. The yield on the benchmark 7.72 percent bond maturing in 2025 is likely to trade in a 7.74-7.79 percent range. - NewsRise
Wall Street rallied across the board on Tuesday after oil prices recovered slightly and data showed that the U.S. economy grew at a fairly healthy clip in the third quarter.
Asia shares edged higher following a modest bounce on Wall Street, while the dollar drifted lower and oil found some relief from recent relentless selling.
The dollar edged down in Asian trading after data overnight painted a mixed picture of the U.S. economy, with major currency pairs bobbing in narrow ranges as traders wound down in a holiday-heavy week.
U.S. short-dated yields rose on Tuesday after U.S. economic data supported views of steady Federal Reserve rate increases next year, while long-dated yields rose after a recovery in the price of U.S. crude suggested slightly higher inflation.
U.S. crude oil prices have moved into a premium over internationally traded Brent as an unexpected drop in American inventories tightened the system, while global markets still suffer from ballooning oversupply.
Gold drifted in a tight range, holding overnight losses, as investors awaited cues from the dollar and oil markets in thin pre-holiday trade.
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