morning news call - thomson...
TRANSCRIPT
MORNING NEWS CALL
FACTORS TO WATCH
Reserve Bank of India’s central board meets in Mumbai.
INDIA TOP NEWS
Indian government wants committees to oversee central bank, Bloomberg reports
India's government is seeking to form panels to monitor functions of the central bank, Bloomberg reported on Friday,
citing people with knowledge of the matter, which could escalate tensions between the finance ministry and the bank.
Tata Sons only in preliminary talks with Jet Airways about a deal
Tata Sons said on Friday it is in preliminary talks with struggling Jet Airways but has not made a proposal to acquire a
stake, cooling speculation that a deal was imminent.
GAIL might buy some wind energy assets of IL&FS - sources
Gas utility GAIL (India) might be interested in buying some of the wind assets of debt-laden Infrastructure Leasing and
Financial Services (IL&FS) but has yet to have any discussion on the matter, two sources from GAIL said on Friday.
Flipkart Group fashion unit chief denies he is quitting
The chief of Flipkart Group's Myntra-Jabong fashion business on Friday denied a media report that he will quit after a
reshuffle in the ranks following the ouster of group CEO Binny Bansal.
India state may cancel NMDC's Donimalai mine lease in levy dispute
Karnataka state on Friday warned NMDC that it will cancel the lease of its Donimalai iron ore mine if the state-owned
miner refuses to pay an additional levy on the sale of its ore.
Visa takes minority stake in Indian payment gateway BillDesk
Payments processor Visa said on Friday it is taking a minority stake in Indian payment gateway BillDesk, as it seeks to
grab a bigger slice of one of the fastest growing digital payments markets in the world.
GLOBAL TOP STORIES
APEC fails to reach consensus as U.S.-China divide deepens
Asia-Pacific leaders failed to agree on a communique at a summit in Papua New Guinea on Sunday for the first time in
their history as deep divisions between the United States and China over trade and investment stymied cooperation.
Japan's exports rebound in October even as trade tensions rise
Japan's exports rebounded in the year to October, reversing from the prior month's surprise drop as U.S.-bound
shipments grew, although slowing global demand and the intensifying U.S.-China trade war could cloud the outlook for
export-reliant Japan.
China moves closer to allowing foreigners to control insurance ventures - sources
China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures
and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said.
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STATE OF THE MARKETS
SGX Nifty nearest-month futures were trading 0.6 percent higher at 10,757.00, from its previous close. -NewsRise
The Indian rupee is expected to open higher against the U.S. currency, in line with other regional currencies, after dollar
index slipped to an over one-week low following remarks by the Federal Reserve vice chairman. -NewsRise
Indian government bonds may edge lower in early trade tracking rise in crude oil prices and on caution ahead of the
meeting of the central bank’s board today. The benchmark 7.17 percent bond maturing in 2028 may trade in a 7.80
percent-7.85 percent band today. -NewsRise
The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to
impose further tariffs on Chinese goods, but falling shares of Nvidia Corp dragged down the Nasdaq.
Asian shares crept cautiously higher amid conflicting signals on the chance of a truce in the Sino-U.S. trade dispute,
while the Federal Reserve's new-found concern on the global economy undermined the dollar.
The dollar was modestly lower against its key rivals after Federal Reserve officials expressed caution over the global
growth outlook, prompting traders to reassess the pace of future U.S. interest rate increases.
U.S. Treasury yields retreated on Friday after a top Federal Reserve official said U.S. interest rates are nearing the
central bank's estimates of a neutral level, suggesting that the current tightening cycle may soon end.
Oil prices rose as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards the
end of the year.
Gold prices were steady, with the dollar subdued following comments from U.S. Federal Reserve officials that were
cautious on global economic growth.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 71.74/71.77 November 16 $117.40 mln $103.03 mln
10-yr bond yield 7.81 pct Month-to-date $457.72 mln $816.32 mln
Year-to-date -$5.47 bln -$7.29 bln
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PICTURE OF THE DAY
A handler bathes Coconut, a female elephant, at the Wildlife SOS Elephant Conservation and Care Center run by a non-
governmental organisation in the northern town of Mathura, India, November 17. REUTERS/Anushree Fadnavis
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