1) Rupee to Restrain Rajan as India Deficit Risks Stoking Inflation
(Bloomberg) -- The threat of a slumping rupee and an ill- disciplined budget will probably prevent Indian central bank Governor Raghuram Rajan from cutting interest rates on Tuesday. The rupee's 2.4 percent loss this year, the most in Asia, risks worsening inflation if Prime Minister Narendra Modi cuts stimulus spending rather than subsidies to narrow Asia's widest budget deficit this month. Thirty-six of 38 economists in a Bloomberg survey predict ...
2) India's Nifty Futures Rise After Stocks Post Weekly Advance
(Bloomberg) -- SGX CNX Nifty Index futures for Feb. delivery +0.6% at 7,597.50. * Underlying Nifty Index +1.9% to 7,563.55 on Friday, highest close in 2 wks; Sensex +1.6%, capping its 1st weekly advance in 4 wks; Bank of New York Mellon India ADR Index +3.6% * NOTE: Larsen Third Quarter Net Income Matches, Sales Trail Estimates Link * NOTE: RBI to announce monetary-policy decision on Tuesday
3) INDIA DAYBOOK: Manufacturing PMI, Aban Offshore, Tech Mahindra
(Bloomberg) -- Today: Nikkei-Markit Manufacturing PMI; earnings incl. Tech Mahindra, Aban Offshore, EID Parry India, Adani Enterprises; Railways Minister Suresh Prabhu speaks. (Please click here to subscribe to India Daybook) WHAT TO WATCH: * Asia stks extend post-BOJ rally as bond yields sink; oil slips * Indian Oil cuts prices on aviation fuel, effective today * Rupee to restrain Rajan as deficit risks stoking inflation * Rajan ...
4) China Factory Gauge Signals a Record Streak of Deterioration
(Bloomberg) -- China's official factory gauge signaled conditions deteriorated for a sixth month as an index of services continued to hold up, illustrating the widening divergence in the two-speed economy. The purchasing managers index dropped to a three-year low of 49.4 in January, the National Bureau of Statistics said Monday. That compared with a median estimate of 49.6 in a Bloomberg survey of economists, and represents the longest stretch of readings remaining below ...
5) Meet the Man Who Became Singapore's Guru of Property by Accident
(Bloomberg) -- Steve Melhuish knew practically nothing about the real estate market in Singapore when the condo he was renting was put up for sale in 2006. Now he dominates the industry. The British-born Melhuish and his wife had just moved to the city-state 18 months earlier and they were surprised at how difficult it was to find new housing. Decade-old sites like Realtor.com, popular in the U.S., hadn't reached Southeast Asia, and most real estate advertising still appeared ...
6) Asian Stocks Extend Post-BOJ Gain as China Slowdown Hurts Aussie
(Bloomberg) -- Asian stocks climbed and Japanese bond yields tumbled as the impact of the Bank of Japan's surprise stimulus move continued to be felt across financial markets. The Australian dollar declined after an official Chinese manufacturing gauge missed economists' estimates. Japan's Topix index headed for an almost one-month high, after the BOJ's unexpected policy easing Friday saw global equities claw back some gains amid their worst month since ...
7) Indian Oil Cuts Prices on Aviation Fuel, Effective Today
(Bloomberg) -- ATF prices in Delhi reduced to $391.6/kl from $448.04/kl, co. says in a statement posted on its website. * Kolkata: $436.94/kl vs $493.36/kl * Mumbai: $395.43/kl vs $451.86/kl * Chennai: $401.19/kl vs $457.65/kl
8) HSBC Says Hiring, Salaries to Be Frozen in 2016 to Cut Costs
(Bloomberg) -- HSBC Holdings Plc will impose a hiring and pay freeze this year as part of its drive to cut as much as $5 billion in costs by the end of 2017, a spokeswoman for the bank said Sunday. The actions were outlined in a memorandum received by employees on Friday, the bank's Gillian James said in an e-mail statement. The moves were reported earlier by Reuters. "As flagged in our Investor Update we have targeted significant cost reductions by the end of ...
9) Lupin Plants Said to Be Inspected, Cleared by US FDA: CNBC-TV18
(Bloomberg) -- Lupin's Pithampur, Aurangabad and Tarapur plants were inspected, cleared by FDA without any observation, CNBC-TV18 says on Twitter, citing unidentified people familiar. * Co. didn't immediately respond to CNBC-TV18's request for comment
10) Aurobindo Unit Gets Observations From FDA After Inspection: ET
(Bloomberg) -- U.S. FDA visited, inspected Units 3, 7 last wk, ET NOW reports in postings on Twitter, citing co. * Unit 7 gets a few observations, not serious in nature * Unit 3 cleared without observation * In process of responding to FDA on observations * Inspection was an informed audit by FDA
11) Global Funds Add to Thailand Debt; Cut Korean, Indonesian Bonds
(Bloomberg) -- Foreign funds were net buyers of 5.4b baht ($151.3m) in Thai bonds on Jan. 29, according to Thai Bond Market Association data; were net buyers of $69.6m in local equities that day, according to exchange data. * Global funds were net sellers of 150.2b won ($124.6m) in South Korean-listed bonds on Jan. 28, according to Financial Supervisory Service data; were net buyers of $161.4m in nation's equities on Jan. 29 * International investors were net ...
12) SEBI Said to Cut Chairman Shortlist to 3 Candidates: ET
(Bloomberg) -- Chairman shortlist cut down to SBI Chairman Arundhati Bhattacharya, former FMC Chairman Ramesh Abhishek, former capital markets joint secretary Thomas Mathew, ET reports, citing unidentified people familiar. * Announcement expected early this month
13) Tata Group Unit Plans to Invest in Vietnam Machinery Plant: VIR
(Bloomberg) -- Tata Group plans to invest in agricultural machinery plant in Mekong Delta city of Can Tho, Vietnam Investment Review reports, citing Jitendra Manghnani, country manager for Tata International. * Plant to make machines for exports and domestic market: newspaper * No plant details provided * NOTE: India's Tata Power Seeks More Plants in Vietnam, VOV Reports Link
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