1) Morgan Stanley Asset Favors India, Indonesia, Philippine Bonds
(Bloomberg) -- Morgan Stanley Investment Management is favoring bonds of India, Indonesia and the Philippines in Asia, after taking advantage of January's rout to boost emerging- market holdings. "We have been rotating to emerging markets in the first quarter, first from a valuation perspective as things just got so beaten up," Mike Kushma, Chief Investment Officer, Global Fixed Income, at the company, which oversees about $406 billion in assets, said in an ...
2) India Stock Futures Drop With Asia Shares Ahead of Fed Meeting
(Bloomberg) -- Indian equity-index futures fell, tracking losses in Asian shares, after the benchmark gauge dropped for a second day and investors looked ahead to monetary policy reviews in Tokyo and Washington this week. SGX Nifty Index futures for April delivery slipped 0.2 percent to 7,863.50 at 10:05 a.m. in Singapore. The underlying Nifty 50 Index slid 0.6 percent to 7,855.05 on Monday, while the S&P BSE Sensex also lost 0.6 percent. The Bank of New York Mellon ...
3) Suspected Islamists Kill U.S. Mission Employee in Bangladesh
(Bloomberg) -- Suspected Islamist extremists hacked to death a U.S. mission employee and his friend in the Bangladeshi capital Dhaka, the police said. Xulhaz Mannan and his unidentified friend were killed in an apartment on Monday, said police inspector Mohammad Iqbal. Mannan was an employee of the U.S. Agency for International Development and the editor of a gay-rights magazine, the Associated Press reported. He previously worked at the U.S. embassy as a protocol officer, ...
4) Mallya Faces Expulsion From Indian Parliament as Passport Voided
(Bloomberg) -- Vijay Mallya, the founder of the failed Kingfisher Airlines Ltd. who is now battling creditors, is facing expulsion from the upper house of India's parliament in the latest move by the government in its drive to recover soured loans. An ethics panel of the house issued a "show cause" notice on Monday, giving him a week to explain why his membership shouldn't be canceled, Karan Singh, chairman of the committee, told ...
5) Sumitomo in Talks to Buy Stake in Excel Crop: Financial Express
(Bloomberg) -- http://goo.gl/hytNx1
6) Airtel Seeks Nod to Offer Video on Closed Network: Standard
(Bloomberg) -- Story Link
7) India Issues Draft Rules for Drone Users: Business Standard
(Bloomberg) -- Story Link
8) INDIA DAYBOOK: Axis Bank, Maruti Suzuki, States Bond, Term Repo
(Bloomberg) -- Today: RBI holds term-repo, states bond auctions; Axis Bank, Maruti Suzuki India, IDFC Bank, Biocon, Bharti Infratel are among cos to announce earnings. WHAT TO WATCH: * Fitch Ratings, Indian govt said to plan meeting in June * India trying to cut regulation for new cos to minimum: Rajan * India said to plan easing overseas flying rules for airlines * India said to plan easing rules aiding Singapore Air, AirAsia * India's energy minister ...
9) Gold Loses Its Shine in Dentistry Amid Teeth-Whitening Craze
(Bloomberg) -- While the popularity of a lily-white smile spawned a billion-dollar business for Procter & Gamble Co., for gold, it's meant only more bad news. Until a decade ago, about 67 metric tons of the yellow metal, worth $2.7 billion today, were filling, capping and crowning teeth worldwide annually. In the last five years, though, demand has plunged almost 60 percent, according to the World Gold Council. Dentists blame teeth-whitening. The trend accelerated ...
10) Costliest Crudes Get a Lift as Cars Crowd Beijing and Mumbai
(Bloomberg) -- The world's costliest types of oil are keeping their premium status thanks to the aspirations of the middle class in China and India as well as America's love of road trips. Prices of cleaner, less-sulfurous, light crudes that yield more gasoline are set to rise relative to thicker, dirtier and cheaper heavy varieties, Barclays Plc says, as refiners churn out more of the fuel to power vehicles. A government tax cut is helping put more ...
11) Coal's Drop Forces Indian Monopoly Miner to Alter Sales Tactic
(Bloomberg) -- Coal India Ltd., the world's biggest producer, is seeking to change the way it sells the fuel as sluggish demand adds to stockpiles and cheaper imports threaten its market share. The company needs to "shrug off the years of inertia of monopolistic marketing and switch over to competitive marketing with alacrity," Chairman Sutirtha Bhattacharya said in a letter to employees posted on the company's website. "Marketing of coal will be the decisive ...
12) Women's Safety Spurs India to Require Mobile-Phone Panic Button
(Bloomberg) -- India said mobile phones must include a panic-button feature from the start of next year and incorporate satellite-based navigation technology from 2018 as officials try to make the nation a safer place for women. The emergency button would be activated when a designated key is pressed, for instance by holding it down for a certain length of time, according to a statement from the telecommunications ministry in New Delhi. All manufacturers, including ...
13) Ghani Seeks Pakistani Military Strikes Against Afghan Taliban
(Bloomberg) -- Afghan President Ashraf Ghani said he won't seek help from Pakistan in initiating talks with the Taliban and instead called on the neighbor, which he says is harboring the militants, to use military force against the group. "I want to make clear today that we don't expect Pakistan to bring the Taliban to the negotiating table," Ghani told lawmakers on Monday, addressing a rare joint session of both houses of parliament. "We want them to suppress the ...
14) Pakistan Foreign Secretary to Attend Afghanistan Conf. in India
(Bloomberg) -- Foreign Secretary Aizaz Ahmed Chaudhry to lead Pakistan delegation to participate in Heart of Asia conference in New Delhi tomorrow, foreign ministry says in statement in Islamabad. * NOTE: Pakistan hosts last meeting in Sept. in Islamabad. Link
15) India Says Planned Maharashtra Refinery May Take at Least 7 Yrs
(Bloomberg) -- India state-run refiners in site selection process for refinery, Oil Minister Dharmendra Pradhan says in parliament replies. * Says Vizag strategic petroleum reserve crude filling cost est. at 25.5b rupees * India exploring alternative models to fund filling 2 other SPRs * Says commercial utilization an option to fund SPR filling * India refiners to spend 287.5b rupees to produce BS-VI fuels * India's KG basin estimated to hold 134 tcf of ...
16) India Trying to Cut Regulation for New Cos to Minimum: Rajan
(Bloomberg) -- Lighter regulation is better for smaller Indian cos, RBI Governor Raghuram Rajan says in Mumbai. * Says need to make access to resources more transparent; access to cheap public power crucical for small firms * Says benefits of infrastructure greater for smaller firms * NOTE: India's Biggest Internal Risk to Economy Is Stalled Reforms Link * Job creation is the most important issue today: Rajan * NOTE: Modi Moves to Plug India's Biggest Data ...
17) India Said to Plan Easing Rules Aiding Singapore Air, AirAsia
(Bloomberg) -- India is planning to ease rules for domestic airlines to start international flights, a move that will benefit the local affiliates of Singapore Airlines Ltd. and AirAsia Bhd., three people familiar with the process said. Under new rules, local carriers won't have to wait for at least five years to qualify for an overseas permit, the people said, asking not to be identified as the information isn't public. The cabinet may consider the new policy as early as ...
18) INSIDE INDIA: INR Longs Hedging Ahead of FOMC, Stanchart Says
(Bloomberg) -- Rupee declines for a third day in line with fall in regional currencies ahead of FOMC rate decision later this week. * "Market participants are likely hedging their long INR exposure, given the risk of a hawkish surprise from the Fed," Divya Devesh, Asia FX strategist at Standard Chartered, says in interview * INR moving mostly in line with the rest of the region * Domestic data is quite light this week * Rupee falls 0.2% to 66.6175 ...
19) Fitch Ratings, Indian Govt Said to Plan Meeting in June
(Bloomberg) -- Fitch Ratings and Indian finance ministry officials due to meet in June to discuss credit profile of Asia's No. 3 economy, people familiar w/ matter say. * India will probably stress in the meeting that the budget this yr sought to spur growth and curb fiscal deficit, the people say, asking not to be identified as planned visit isn't public * Finance ministry spokesman D. S. Malik couldn't be reached for comment * Fitch didn't ...
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