1) Asia's Worst-Performing Currency May Be Best Bet This Year
(Bloomberg) -- Investing in Asia's worst-performing currency is all about the interest rate. While the rupee fell 0.6 percent versus the dollar this year, flows from stock and bond investors both turned positive in March amid slower inflation, an improved current account and budgetary discipline. Including interest, investing in rupees will earn 2.9 percent from now until Dec. 31, according to strategists' forecasts compiled by Bloomberg, the most in emerging Asia. ...
2) India's Stock Futures Advance as Foreign Funds Boost Holdings
(Bloomberg) -- Indian equity-index futures rose before the expiry of the monthly derivative contract as foreign inflows into the nation's stocks accelerated and Federal Reserve Chair Janet Yellen reiterated the case for raising U.S. interest rates slowly. SGX Nifty Index futures for March delivery climbed 0.6 percent to 7,656.50 at 9:23 a.m. in Singapore. The underlying Nifty 50 Index fell 0.2 percent to 7,597 on Tuesday, while the S&P BSE Sensex dropped 0.3 percent. ...
3) INDIA DAYBOOK: Healthcare Global Debut, T-bills Auction, Modi
(Bloomberg) -- Today: HealthCare Global shrs debut; T- bills; PM Narendra Modi to attend EU-India Summit in Brussels. WHAT TO WATCH: * Red flag rising for India finances as migrant remittances shrink * Baby's death shows global threat from wonder drug's demise * Hen's-eye view of drug use in the fastest-growing chicken market * Plying fowl with last-resort drug hastens end of 'miracle cures' * Tata Steel to study sale ...
4) Red Flag Rising for India Finances as Migrant Remittances Shrink
(Bloomberg) -- India's most reliable source of foreign funding is under threat. Remittances fell to $15.8 billion last quarter, the lowest since April-June 2011 and a 9.4 percent drop from a year earlier, as the global slowdown and slumping oil prices reduce demand for foreign workers. Indians working abroad -- from construction laborers in Dubai to Silicon Valley engineers -- send home the most money in the world, helping to pay for imports of fuel and electronics. ...
5) Ambani's Reliance Is Worst Asian Telecom Stock This Year: Chart
(Bloomberg) -- No Asian telecom stock has performed worse than Reliance Communications Ltd. this quarter as billionaire Anil Ambani tests investors' patience over pledges to reduce debt by selling assets. The company hasn't completed the sale of its tower and fiber-optic businesses, and Deven Choksey, managing director at brokerage K.R. Choksey in Mumbai, said that's concerning investors. Reliance Communications did not respond to a request for comment. To contact the ...
6) Baby's Death Shows Global Threat From Wonder Drug's Demise
(Bloomberg) -- The antibiotic colistin was the last resort for saving babies at the King Edward Memorial Hospital in Pune, India. That defense was breached last year. In early 2015, a pediatrician at the hospital for the first time encountered two cases in which newborns had bloodstream infections caused by bacteria resistant to the critically important medicine. One of the babies died; the other survived. "That is a warning to us that maybe ...
7) Plying Fowl With Last-Resort Drug Hastens End of `Miracle Cures'
(Bloomberg) -- Wearing only silver toe rings on her bare feet, Manisha Bal Reddy pads through her flock of 4,800 cackling chickens in a coop in south India to retrieve a blue and white bottle on the husk-covered floor. It contains a mix of three antibiotics, including the last one currently available to treat the most perilous bloodstream infections in people. The drug cocktail is to be added to the birds' drinking water, according to notes ...
8) Tata Steel to Study Sale of U.K. Unit as Market Worsens
(Bloomberg) -- Tata Steel Ltd., the metal-producing arm of India's biggest conglomerate, will consider selling its U.K. steel division because of weaker demand and prices, marking a potential reversal of its $12 billionpurchase made about a decade ago. Global oversupply, high manufacturing costs and rising steel exports mean trading conditions in the U.K. and Europe have "rapidly deteriorated," and the factors are likely to continue, Mumbai-based Tata Steel said in a ...
9) IN FOCUS: Yellen Sends Dollar Tumbling; Japanese IP, BOK's Lee
(Bloomberg) -- What you need to know from overnight and in the Asian day ahead: * Fed's Yellen said FOMC will move "cautiously" on hikes amid heightened global risks and has "considerable" scope for stimulus * Bloomberg Dollar Index dropped 0.8%, with Aussie, kiwi and Singapore dollar strengthening over 1%; yen gained 0.7% * U.S. 10-yr breakevens surged; time to buy gold and linkers as a hedge, says BlackRock, joining Pimco in a warning about ...
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