Wednesday, 6 July 2016

{LONGTERMINVESTORS} India Summary

 


1) NASA Images Show Toxic Air Challenge Choking Indian Subcontinent
    (Bloomberg) -- The mega-city of New Delhi has tried everything from banning diesel guzzling SUVs to taking about half the city's cars off the streets in a fight against air pollution. Officials may yet have to do much, much more, based on National Aeronautics and Space Administration satellite research. The research depicts how much sunlight is blocked by airborne particles, providing a proxy for levels of pollution. The data show parts of the Indo-Gangetic plain -- ...

2) India's $4 Smartphone Seems Too Good to Be True
    (Bloomberg) -- In the next few weeks, the world's cheapest smartphone will meet the world's fastest-growing smartphone market. In theory, at least. A little-known Indian company called Ringing Bells Pvt is set to start shipping the Freedom 251. The prototype touts a quad-core processor, a 4-inch screen and front and back cameras - at the astonishingly low price of 251 rupees (less than $4). While global brands Samsung Electronics Co. and Lenovo Group Ltd. sell devices ...

3) India Hopes to Conduct Spectrum Sale on Time: Telecom Secretary
    (Bloomberg) -- India has almost completed harmonization of 1,800 megahertz spectrum, Telecom Secretary J.S. Deepak says in interview. * Expect to get recommendations on spectrum usage charge by early next week, Deepak says * NOTE: India to Auction Spectrum in 7 Bands, Over 2,300 Mhz to be Sold * NOTE: The $79 Billion Airwaves Dilemma Vexing India's Telecom Barons

4) Obama Finds He Can't Escape Afghan War He Once Vowed to End
    (Bloomberg) -- President Barack Obama, who once promised to withdraw all U.S. combat troops from Afghanistan within 16 months of taking office, acknowledged on Wednesday that his successor will instead have to resolve America's longest armed conflict. Obama announced that he would again slow the U.S. withdrawal from the country, where Afghan government forces are struggling to take and keep territory from the Taliban. About 8,400 U.S. military personnel ...

5) INDIA DAYBOOK: Modi in Mozambique, PNB Housing IPO, Lupin Recall
    (Bloomberg) -- Today: Prime Minister Narendra Modi begins 4-nation visit of Mozambique, South Africa, Tanzania and Kenya; Power Minister Piyush Goyal, others to speak at INFOCOM conference. WHAT TO WATCH: * Modi in Mozambique today * Cabinet approves importing pulses from Mozambique * India to import 100,000 tons of pulses from Mozambique * India hopes to conduct spectrum auction on time, Telecom Secretary says * Toshiba sees $20 ...

6) IN FOCUS: BOJ and RBNZ Speakers, China FX Reserves; USTs Mixed
    (Bloomberg) -- What you need to know from overnight and in the Asian day ahead: * BOJ's Kuroda to speak; FX market may watch for any jawboning given Japan officials have been mostly mum on yen since Brexit * RBNZ's Spencer will discuss macro-prudential policy and housing market; note PM Key called on RBNZ to tighten investor curbs Tues. * Four more U.K. property funds have frozen withdrawals amid "panic selling" and forecasts of 20% drop in ...

7) INDIA CREDIT DAYBOOK: Banks Need $90b Capital for Basel 3: Fitch
    (Bloomberg) -- India's banks are likely to need ~$90b of capital to meet Basel III requirements by March 2019, Fitch analysts including Saswata Guha write in a note. * Fitch says more than half this requirement must be met via core equity, with the remainder mostly through AT1 notes * Capital needs of state-owned banks will be 80% of total requirements; it's difficult for majority of them to resolve asset quality and capital issues * NOTE: Bank of India's ...

8) Confident GST Bill Will Be Passed in Monsoon Session: Gangwar
    (Bloomberg) -- Santosh Gangwar, who took charge as Junior Finance Minister on Wednesday, says in comments to reporters in New Delhi. * NOTE: India Govt Aims to Get GST Bill Approved This Session: Naidu * Priority is to sustain India's economic growth, says Arjun Ram Meghwal, who also took over as Junior Finance Minister * NOTE: Modi Shuffles Cabinet to Soothe Spats Before India State Polls

9) India's June Oilmeals Exports Slide 48% Y/y to 88,514 Tons
    (Bloomberg) -- Oilmeal exports for April-June period drop 61% from yr earlier to 186,293 tons, Solvent Extractors' Association of India says in e-mail statement. * Exports fell due to lesser availability of oilseeds for crushing and continuous disparity in exporting oilmeals in international market: statement * April-June soybean meal exports at 5,129 tons vs 34,161 yr earlier; rapeseed meal exports at 60,889 tons vs 160,725; and castor seed meal shipments at ...

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