To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_07072016.pdf FACTORS TO WATCH GMF: ASIA LIVECHAT - MACROS AND MARKETS with Satyajit Das, Australian former banker and corporate treasurer, turned consultant, author and academic Brexit, slower growth, China slowdown, never ending QEs - What is the best way to trade markets in such an uncertain environment? Former banker and author of "Traders, Guns and Money", Satyajit Das, joins us at 1000 IST on the Forum to share his views on the global economy and markets. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ TRADING INDIA LIVECHAT with Satyendra Pandey - Head of Strategy & Planning - GoAir Domestic air-traffic for India grew by a whopping 28 pct in March compared to a global average of 4 pct and 6 times higher than the US. With such explosive growth set to continue we speak to Satyendra who is Head of Strategy at GoAir on how GoAir plans to take advantage. We also speak on the expected delivery dates for the 8 Airbus A320neo's and plans to go public. To join the conversation at 1100 IST, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS  Modi expands cabinet into one of biggest in recent years Prime Minister Narendra Modi inducted 19 new ministers into his cabinet on Tuesday to bolster his two-year-old administration but drew criticism that he was backtracking on a promise of lean government.

 Indian services growth slows for third straight month in June-PMI Growth in India's services sector slowed to a seven-month low in June as new orders continued to soften, a business survey showed on Tuesday.

 Indian banks need $90 billion to meet Basel III rules-Fitch India's banks will need about $90 billion to meet global Basel III rules which are due to be fully implemented by March 2019, Fitch Ratings said, calling the requirements "onerous" given the lenders' weak asset quality and internal capital generation.

 Shipping Corporation of India to resume sailing to Iran, boosting shares Shipping Corporation of India will resume sailing to Iran this month after a four-year gap, transporting an oil cargo for a state-run refiner, the chairman of India's biggest shipping company said on Tuesday.

GLOBAL TOP NEWS  British inquiry slams ex-PM Blair for catalogue of failures over Iraq war Former British Prime Minister Tony Blair's justification, planning and handling of the Iraq War involved a catalogue of failures, a seven-year inquiry concluded on Wednesday in a scathing verdict on Britain's role in the conflict.

 Smartphones lift Samsung Electronics to best profit in over 2 years Tech giant Samsung Electronics Co Ltd said its second-quarter operating profit likely rose 17.4 percent from a year earlier, its highest in more than 2 years as Galaxy S7 smartphone sales propelled mobile earnings.

 BOJ's Kuroda upbeat on economy despite Brexit fears Bank of Japan Governor Haruhiko Kuroda said the central bank is ready to expand monetary stimulus further if needed to achieve its 2 percent inflation target, but made no mention of the Brexit vote that has spread turmoil in financial markets.

LOCAL MARKETS OUTLOOK (As reported by NewsRise)  The SGX Nifty Futures was trading at 8,340.00, up 0.53 pct from its previous close.

 The Indian rupee will likely open slightly lower against the U.S. dollar, as demand for the safe-haven Japanese yen rose amid renewed concerns that Britain's vote to leave the European Union will have a broader impact on the global economy.

 Indian government bonds will likely extend their winning streak, as investors continue to bet global central banks will expand stimulus to take the sting out of Britain leaving the European Union. The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.36 pct-7.41 pct band.

GLOBAL MARKETS  U.S. stocks rose on Wednesday as the Federal Reserve was seen refraining from raising U.S. interest rates soon, even as economic data showed the world's largest economy regained speed in the second quarter.

 Asian share markets crept higher after upbeat U.S. economic data took some of the sting out of the latest Brexit scare, while the Australian dollar slipped as the country's triple A credit rating came under threat.

 The yen stood tall in early Asian trading while sterling foundered in the fallout from Britain's vote last month to exit the European Union.

 U.S. benchmark and long-dated Treasury yields finished slightly higher on Wednesday on profit taking after hitting record lows during the session on global growth concerns stemming from Britain's recent vote to exit from the European Union.

 Oil prices rose, supported by a report of another fall in U.S. crude inventories as well as a weaker dollar, although a glut of refined products and economic growth concerns continue to weigh on markets.

 Gold rose slightly after touching its highest in more than two-years in the previous session, with investors wary over renewed market moves over Brexit even as regional shares crept higher.

CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 67.39/67.42 July 5 $39.4 mln - 10-yr bond yield 7.51 pct Month-to-date -$16.87 mln - Year-to-date $2.94 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 = 67.46 Indian rupees) (Compiled by Hardik Vyas in Bengaluru)