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To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_07232018.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 11:00 am: Monsoon session of Parliament continues in New Delhi.
3:00 pm: NITI Aayog CEO Amitabh Kant to sign statement of intent to collaborate in the Aspirational Districts Programme in New Delhi.
3:00 pm: Interim Finance Minister Piyush Goyal to speak on GST at a meeting of traders in New Delhi.
INDIA TOP NEWS • India cuts sales tax across sectors to ease pain of traders and consumers India slashed the sales tax rate on over 50 products on Saturday in a move aimed at appealing to traders and the middle classes as Prime Minister Narendra Modi's government eyes next year's elections.
• HDFC Bank net profit misses estimates on higher provisions HDFC Bank posted a 18.2 percent rise in first-quarter net profit but missed analysts' estimates as the lender chose to include all mark-to-market losses in the first quarter, leading to higher provisions.
• UPL Corp to buy Platform Specialty's agrochemical business Arysta for $4.2 billion UPL Corp on Friday said it would buy the agrochemicals business of Platform Specialty Products Corp for $4.2 billion in cash.
• Wipro sees strong demand for services from financial clients Wipro said it was seeing strong demand for its services from clients in banking, financial services and insurance, while it faces challenges in its India business and in the U.S. healthcare sector.
GLOBAL TOP NEWS • G20 calls for stepped-up trade dialogue; no agreement on path forward Global finance leaders called on Sunday for stepped-up dialogue to prevent trade and geopolitical tensions from hurting growth, but ended a two-day G20 meeting with little consensus on how to resolve multiple disputes over U.S. tariff actions.
• Trump says his campaign was spied upon illegally, offers no evidence U.S. President Donald Trump said on Sunday that documents released by the FBI relating to a former adviser's ties to Russia showed that his campaign for the 2016 presidential election had been illegally spied upon by U.S. law enforcement, but offered no evidence to support his assertion.
• ZTE's Hong Kong shares jump as U.S. lawmakers cut measure from bill Shares of China's ZTE Corp rose in Hong Kong after U.S. lawmakers cut measures from a defence bill that would have reinstated sanctions on the telecommunications equipment maker.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were trading at 11,034.50, up 0.1 percent from its previous close.