To access the newsletter, click on the link: here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 10:00 am: Earth Sciences Minister Harsh Vardhan at an event in New Delhi. 10:00 am: Oil Minister Dharmendra Pradhan at an event in New Delhi. 11:00 am: Budget session of Parliament continues in New Delhi. 4:00 pm: India Ratings webinar on real estate sector in Mumbai. GMF: LIVECHAT - ASIA AIRLINE INDUSTRY The first loss reported by Cathay Pacific in eight years, and the strategic deal struck between American Airlines and China Southern Airlines have drawn investors' attention to the arena of Asia carriers. Independent research firm Crucial Perspective founder Corrine Png will discuss the earnings performance and industry trend at 9:00 am. To join the conversation, click on the link: here INDIA TOP NEWS • Snapdeal founders move to calm employees amid takeover speculation The founders of India's Snapdeal told employees in an email on Sunday that the e-commerce company will ensure there is no disruption to staff "as the way forward becomes clear," as speculation of a takeover swirls. • Softbank-backed Ola ramps up electric vehicles push in India Indian ride-hailing firm Ola, backed by Japan's Softbank Group, is preparing for a large-scale rollout of electric vehicles by next year even as it runs trials on the viability of the business model, Chief Executive Bhavish Aggarwal said. • India cenbank releases paper on wholesale, long-term finance banks India's central bank on Friday released a discussion paper on a proposal to set up "differentiated banks" in the form of wholesale and long-term finance banks to fund large projects. • Indian state-run companies mull daily fuel price change -report India's state-run oil marketing companies, which control over 90 percent of the retail fuel market in the country, are mulling a plan that would allow daily changes in the price of automotive fuels, Economic Times reported on Friday. • Indian private equity firm to acquire Religare Health Insurance A consortium of investors led by Indian private equity fund True North has agreed to acquire Religare Enterprises Ltd's health insurance business in the country, the groups said in a joint statement on Sunday. GLOBAL TOP NEWS • Palm Sunday bombings of Egyptian Coptic churches kill 44 At least 44 people were killed in Egypt in bomb attacks at the cathedral of the Coptic Pope and another church on Palm Sunday, prompting anger and fear among Christians and leading to troop deployments and the declaration of a three-month state of emergency. • Assad allies say U.S. attack on Syria air base crosses "red lines" A joint command centre made up of the forces of Russia, Iran and militias supporting Syrian President Bashar al-Assad on Sunday said the U.S. strike on a Syrian air base on Friday crossed "red lines" and it would respond to any new aggression and increase its support for its ally. • At strategic shoal, China asserts power through control, and concessions Far out in the South China Sea, where dark blue meets bright turquoise, a miles-long row of fishing boats anchor near Scarborough Shoal, backed by a small armada of coastguard projecting China's power in Asia's most disputed waters. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,220.00, trading little changed from its previous close. • The Indian rupee will likely open lower against the dollar, in line with its Asian peers, after a Federal Reserve official reinforced expectations of more rate increases this year, even as a U.S. jobs report missed estimates. Concern about escalating geopolitical tensions after a U.S. missile strike on Syria last week continue to weigh on risk sentiment. • Indian government bonds will likely edge lower in early trade tracking U.S. Treasury yields, which gained after a Federal Reserve official’s comments reinforced bets of more rate increases in the world’s largest economy. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.80 pct-6.85 pct band today. The bond closed at a two-week low of 101.03 rupees, yielding 6.82 pct, on Apr. 7. GLOBAL MARKETS • Wall Street's three major indexes edged lower on Friday in a choppy session as investors grappled with a weaker-than-expected job report, the U.S. airstrike in Syria and a top Federal Reserve official's comments on trimming the U.S. central bank's balance sheet. • Asian stocks started the week on a cautious footing as increased geopolitical risks prompted investors to favour safe-haven bets such as government debt while the dollar benefited from comments from a U.S. central banker. • The dollar started the week at three-week highs against a currency basket, after a key U.S. Federal Reserve official reinforced the central bank's commitment to interest rate hikes. • U.S. Treasury yields rose on Friday, reversing a plunge sparked by weaker-than-expected U.S. jobs growth data, after a top Federal Reserve official boosted expectations for interest rate increases. • Oil prices were firm, supported by strong demand and political uncertainty in Syria, although another rise in U.S. drilling activity kept a lid on gains. • Gold inched down after hitting a 5-month high in the previous session, weighed down by a stronger dollar. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.26/64.29 April 7 -$40.8 mln $1.24 bln 10-yr bond yield 7.24 Month-to-date $231.77 mln $2.74 bln Year-to-date $7.01 bln $8.21 bln For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 64.2660 Indian rupees) (Reporting by Nayyar Rasheed in Bengaluru)
PRESS DIGEST- New York Times business news - June 26
June 26 The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
PRESS DIGEST - Wall Street Journal - June 26
June 26 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.