morning news call - thomson...
TRANSCRIPT
MORNING NEWS CALL
FACTORS TO WATCH
11:00 am: RBI Governor Urjit Patel to appear before parliament's standing committee on finance in New Delhi.
3:00 pm: Power Minister R.K. Singh to appear before a parliament panel over resolution of stressed assets in the power
sector in New Delhi.
5:30 pm: Government to release May consumer price inflation data in New Delhi.
5:30 pm: Government to release April Industrial output data in New Delhi.
LIVECHAT - FED FOCUS
John Noonan , Head of IFR FX Watch Asia, previews the all-important June 13 Fed meeting for us, and analyses cues
and views for market moves post-Fed at 0930 IST. To join the Global Markets Forum, click here .
INDIA TOP NEWS
India set to miss key target for Japan-backed bullet train project-sources
India is set to miss a December deadline to acquire land for a Japan-backed $17 billion bullet train project following
protests by fruit growers, government officials said, likely delaying one of Prime Minister Narendra Modi's most
ambitious projects.
With assembly team and samosas, IKEA lays ground for India debut
IKEA is set to open its first store in India next month, and the world's biggest furniture retailer is localizing its offering -
from the food menu to its "do-it-yourself" (DIY) assembly model - to ensure success in the country.
Jaguar to cut more UK jobs as it moves Discovery output to Slovakia
Jaguar Land Rover is set to cut more jobs in Britain as it moves all production of its Discovery car to lower-cost Slovakia
before building its new Range Rover at an English factory.
Police asks Interpol to issue arrest notice for billionaire jeweller Nirav Modi
The federal police has asked Interpol to help locate and arrest billionaire jeweller Nirav Modi, who is at the heart of a $2-
billion-plus bank fraud case, a federal police source said on Monday.
Modi's plan to get millions more Indians flying faces turbulence
The slow pace of fitting out regional airports risks delaying Indian Prime Minister Narendra Modi's ambitious plan to
launch more flights connecting smaller towns and cities and get millions more people using air travel.
Tata Steel Europe workers question rationale of Thyssenkrupp tie-up
Tata Steel's European works council said it is unconvinced by a planned joint venture with Thyssenkrupp, raising the
chances that the deal will be delayed or even fail in its current form.
Nayara Energy begins cutting Iran oil imports - sources
Refiner Nayara Energy, one of the country's biggest buyers of Iranian oil, began cutting imports this month after the
United States scrapped a nuclear deal with Tehran and said it would re-impose tough sanctions, three people familiar
with knowledge of the matter said.
Airtel's Kenyan unit abandons plan to merge with Telkom
The Kenyan unit of Bharti Airtel has abandoned plans to merge with Telkom Kenya to take on the market leading
operator Safaricom, industry and government sources said on Monday.
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GLOBAL TOP STORIES
Trump says summit is "very, very good", Kim calls it prelude to peace
U.S. President Donald Trump said he had forged a "good relationship" with North Korean leader Kim Jong Un at the
start of a historic summit in Singapore, as the two men sought ways to end a nuclear standoff on the Korean peninsula.
Trump economic adviser Kudlow in good condition after heart attack
Top White House economic adviser Larry Kudlow, a staunch defender of President Donald Trump's tough stance on
global trade, was in good condition in a Washington-area hospital after suffering a heart attack, the White House said.
U.S. reveals ZTE settlement details, ban still in place
ZTE's settlement with the U.S. Commerce Department that would allow China's No. 2 telecommunications equipment
maker to resume business with U.S. suppliers was made public on Monday, days after the company agreed to pay a $1
billion fine, overhaul its leadership and meet other conditions.
STATE OF THE MARKETS
The SGX Nifty nearest-month futures were trading down 0.1 percent at 10,776.50. -NewsRise
The Indian rupee is expected to open marginally lower against the dollar, tracking the weakness in other regional
currencies, as a historic summit between the U.S. and North Korea began.-NewsRise
Indian government bonds will likely trade steady to lower in early session ahead of an auction of state papers, while
investors also await the key retail inflation data later in the day. Yield on the benchmark 7.17 percent bond maturing in
2028 is likely to trade in a 7.94 percent - 8.00 percent band. -NewsRise
All three major U.S. stock indexes closed slightly higher on Monday as investors eyed the looming United States-North
Korea summit on Tuesday in Singapore while shrugging off the weekend's factious meeting of the Group of Seven
nations.
The dollar jumped to a 3-week top on while stock markets in Asia were choppy as an historic U.S.-North Korea
summit got underway in Singapore, raising some hopes it could pave the way to ending a nuclear stand-off on the
Korean peninsula.
U.S. Treasury yields rose on Monday before the Federal Reserve is expected to raise interest rates on Wednesday,
though the Treasury Department saw solid demand for $54 billion in new three and 10-year notes.
Oil prices edged up along with global markets on cautious optimism over the outcome of a summit between U.S.
President Donald Trump and North Korean leader Kim Jong Un in Singapore.
Gold prices edged lower, weighed down by a stronger dollar amid encouraging signs ahead of an historic U.S.-North
Korea summit and a likely interest rate hike by the U.S. Federal Reserve.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 67.41/67.44 June 11 -$171.5 mln -$119.4 mln
10-yr bond yield 8.14 pct Month-to-date $413.48 mln -$336.57 mln
Year-to-date $168.83 mln -$4.56 bln
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PICTURE OF THE DAY
A man reads the Koran inside his shop selling second-hand automobile parts during the holy month of Ramadan in Mumbai, June 11. REUTERS/Francis Mascarenhas.
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