11:30 am: DLF CEO Rajeev Talwar, Omaxe Group Chairman Rohtas Goyal and other real estate industry executives at National Real Estate Development Council’s 14th National Convention in New Delhi 11:30 am: Power Finance Corp. earnings conference call in Mumbai.
12:00 pm: President Ram Nath Kovind and Labour Minister Bandaru Dattatreya at National Safety Awards in Mumbai.
12:30 pm: National Highways Authority of India Chairman Deepak Kumar at launch of mobile app “MyFASTag” and “FASTag Partner" in New Delhi.
3:00 pm: Trade Minister Nirmala Sitharaman at launch of ‘Advantage Healthcare-India 2017' in New Delhi.
LIVECHAT - FINTECH We talk Bitcoin and other FinTech news with Reuters correspondent Anna Irrera at 5:30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Cracking down on 'black' money, India steps up scrutiny of shell firms When Prime Minister Narendra Modi banned high-denomination currency bills in a surprise move late last year, authorities noticed a surge in shell companies depositing cash in banks, seemingly in a bid to hide who owned that wealth.
• MPC members warn inflation could accelerate - RBI minutes The Reserve Bank of India's monetary policy committee members said easing consumer inflation had supported the need for a rate cut at its August meeting, but warned prices could start accelerating, minutes showed.
• India's help to lenders facing bond defaults a "moral hazard" - Fitch The Indian government risks creating "moral hazard" by injecting funds into state-run lenders such as IDBI Bank Ltd which are at risk of missing coupon payments on their additional tier 1 bonds, Fitch Ratings said.
• Infosys to consider share buyback proposal Infosys Ltd said its board will consider a proposal, to buy back equity shares, at its meeting later this month.
• Biocon pulls application for EU approval of two drugs Biocon Ltd has withdrawn its application seeking European Union approval for two drugs after the EU drugs regulator sought re-inspection of their production facility, sending shares down more than 8 percent.
• India introduces price controls for knee implants India has capped prices of orthopaedic knee implants, in the country's latest move to bring down prices of medical devices.
• Thyssenkrupp says it has no timeline on Tata Steel joint-venture deal Thyssenkrupp has no timeline to make a final decision on a potential merger of its European steel operations with those of peer Tata Steel, a spokesman for the group said.
GLOBAL TOP NEWS • Trump disbands business councils after CEOs quit in protest U.S. President Donald Trump disbanded two high-profile business advisory councils on Wednesday after several chief executives quit in protest over his remarks blaming weekend violence in Virginia not only on white nationalists but also on anti-racism activists who opposed them.
• Trump praises N.Korea's Kim for 'wise' decision on Guam U.S. President Donald Trump on Wednesday praised North Korean leader Kim Jong Un for a "wise" decision not to fire missiles towards the U.S. Pacific territory of Guam, which has eased escalating tension between the two countries.
• Japan's exports rise in July, underpin strengthening economy Japan's exports rose for an eighth straight month in July on robust shipments to the United States and a boost from a weak yen, a sign overseas demand rebounded from a lull in the previous quarter to underpin a steady economic recovery.
GLOBAL MARKETS • U.S. stocks ended slightly firmer on Wednesday but off the day's highs as worries mounted over President Donald Trump's agenda and minutes from the latest Federal Reserve meeting suggested policymakers are worried about weak inflation.
• Asian stocks edged up as tensions between the U.S. and North Korea came off the boil, while worries about President Donald Trump's ability to implement his pro-growth agenda and the Federal Reserve's concerns about low U.S. inflation hit the dollar.
• U.S. Treasury yields fell on Wednesday, with benchmark yields retreating from one-week highs as U.S. President Donald Trump's dissolving of two business advisory groups and the Federal Reserve's record of its July policy meeting raised economic worries.
• Oil prices edged up, clawing back some ground after losses in the previous session.
• Gold edged up, extending gains from the previous session, as the dollar remained subdued after minutes from the Federal Reserve's July meeting hinted at a delay in further rate hikes.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.18/64.21 August 16 -$169.87 mln -$17.15 mln 10-yr bond yield - Month-to-date -$655.05 mln $984.02 mln Year-to-date $8.32 bln $22.13 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 = 64.1650 Indian rupees) (Compiled by Erum Khaled in Bengaluru)
