1) Goldman-Backed 'Nimble Gorilla' Targets Distressed Indian Assets
(Bloomberg) -- Indian billionaire Ajay Piramal is a man on a shopping mission. His firms are training their sights on distressed assets discarded by indebted businesses and banks struggling with bad loans. His unlisted real estate unit, recently flush with cash from Warburg Pincus & Co. and Goldman Sachs Group Inc., is looking to buy land parcels from distressed developers, a month after Piramal Enterprises Ltd. announced a $893 million fund to buy soured loans. The ...
2) Flipkart's Mark-Down Augurs Lean Times for India's Tech Startups
(Bloomberg) -- Cash-hungry Indian startups like Flipkart Pvt. are discovering the fundraising party's winding down. The domestic e-commerce leader became one of the most prominent Asian startups to have its valuation slashed by a high-profile investor. Sending ripples through the industry, a Morgan Stanley fund marked down its value by more than a quarter to $11 billion, less than a year after financing clinched a $15 billion valuation. That's an unexpected setback ...
3) India Nifty Stock Futures Advance at Singapore Opening
(Bloomberg) -- SGX Nifty 50 Index futures for March delivery +0.3% to 7,535.50. * Underlying Nifty 50 Index +0.1% to 7,485.35 on March 4; Sensex +0.2%; Bank of New York Mellon India ADR Index little changed yday; Indian markets were closed yday for holiday
4) INDIA DAYBOOK: Jaitley, State Polls, Subramanian, Pension Tax
(Bloomberg) -- Today: Finance Minister Arun Jaitley speaks at South Asian regional conclave on financial inclusion through microfinance in New Delhi. WHAT TO WATCH: * Japan leads Asian stk retreat as yen jumps before China trade * Goldman-backed 'nimble gorilla' targets distressed Indian assets * Mothers-in-law at the office: India's plan to keep women working * Flipkart's mark-down augurs lean times for India's tech startups * Beer Baron ...
5) Mothers-in-Law at the Office: India's Plan to Keep Women Working
(Bloomberg) -- "Bring Your Mother-in-Law to Work" day, "Take Your Baby on Your Business Trip" programs. Longer paid maternity leaves and subsidized day care. Companies in India, especially multinationals and tech firms, are rolling out these initiatives to keep women from dropping out of the workforce when they get married or have children. As India's government also prepares to extend mandatory paid maternity leave to six-and-a-half months -- among the longest such ...
6) Iron Jumps Most on Record as Market Goes 'Berserk' on China
(Bloomberg) -- Iron ore soared the most ever after Chinese policy makers signaled their willingness to buttress economic growth, boosting the outlook for steel consumption in the top user and igniting speculation that some investors who'd bet against the market had been caught out. Ore with 62 percent content delivered to Qingdao jumped 19 percent to $63.74 a dry metric ton, Metal Bulletin Ltd. data show. That's the biggest gain in daily data going back ...
7) Beer Baron Slams 'Hysterical' Media Focus on Kingfisher Dues
(Bloomberg) -- Vijay Mallya, the Indian liquor tycoon who started Kingfisher Airlines Ltd., said he's in talks with lenders to pay the carrier's dues and slammed the media for what he described as a "near-hysterical campaign" against him. Kingfisher Airlines was one of India's leading carriers from 2005 until it stopped flying in 2012 as debt and losses mounted. The airline owes about 70 billion rupees ($1.04 billion) to lenders, SBICAP Trustee Co., leader of a ...
8) Japan Leads Asian Stock Retreat as Yen Jumps Before China Trade
(Bloomberg) -- Japanese stocks led a retreat in Asian equities as the yen strengthened following the release of data showing Asia's second-largest economy shrank last quarter. Oil and copper declined, while gold advanced before China releases February trade figures. The MSCI Asia Pacific Index of regional shares fell the most in almost three weeks as Japan's Topix slid for a second day and Australian shares snapped a six-day rally that was powered by a ...
9) IN FOCUS: China Trade, Japan GDP, RBA's Lowe; Commodities Surge
(Bloomberg) -- What you need to know from overnight and in the Asian day ahead: * Brent broke above $40 (+5.3%) for first time this yr as Russia floated dates to discuss a freeze and U.S. rig count fell * Iron ore jumped 19%, most in 6 years, on talk of Chinese stimulus at the weekend NPC meeting and as shorts covered * Fed's Fischer (neutral, voter) said we may be seeing first signs of higher inflation; Brainard (dove, voter) is wary of global risks ...
10) Brent Halts Gains Near $40 as Stockpiles Counter Freeze Deal
(Bloomberg) -- Brent oil halted gains above $40 a barrel as forecasts that U.S. stockpiles would remain at the most since 1930 competed with speculation producers may agree to an output freeze. Futures in London lost as much as 1.4 percent after closing above $40 for the first time since December on Monday, capping the longest run of gains in three months. U.S. supplies probably rose 3.5 million barrels last week, according to a Bloomberg News survey before government data ...
11) India's Cotton Output Seen Lower Than Forecast, USDA FAS Says
(Bloomberg) -- 2015-16 output will drop to 27.5m bales from 29.6m a yr earlier, USDA's Foreign Agricultural Service says in report posted Monday on website. * USDA'S official posting for this yr was 27.8m * NOTE: Bale weighs 480 pounds, or 218 kilograms
12) Five Charts Show Emerging Stocks Rally May Be Real Thing
(Bloomberg) -- Evidence is growing that the rally in developing-nation stocks is no blip. The 15 percent rebound in the MSCI Emerging Markets Index since it touched a 6-1/2-year low in January has been underpinned by improving inflows into stocks and higher trading volumes, suggesting that money managers are becoming more convinced the gains are sustainable. The gauge headed for the longest streak of gains in almost 11 months on Monday and was less than 0.1 percent ...
13) India's Proposed Dividend Tax Seen as Triple Taxation
(BNA) -- Indian businesses, corporate investors and other stakeholders are arguing against a government-proposed 10 percent tax on annual dividend income, saying that it amounts to triple taxation on the same earnings. The measure, proposed by Finance Minister Arun Jaitley in his 2016 budget and detailed in Finance Bill 2016, would impose the 10 percent tax on the gross amount of dividends above 1 million rupees ($15,000) earned by domestic taxpayers from corporate ...
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