FX FOCUS - Join Aurelija Augulyte, Senior Analyst and Macro Strategist, Nordea Markets, at 12:30 pm (IST). She has over 11 years of experience in economic and markets research. Aurelija is very hands on with her views on G10 and EM FX and she'll be talking to us about Brexit and its impact on FX crosses. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS Pharma crusader Dinesh Thakur takes India's drug regulators to court One of India's best-known whistleblowers, who exposed dangerous practices in the generic drug industry in 2013, is taking the country's drugs regulators to court, accusing them of failing to enforce rules on drug safety in the $15 billion industry.
Ambani's $20 billion bet on TV, telecoms may rekindle wealthy brothers' rivalry India's richest man, Mukesh Ambani, is muscling into the cable TV sector as part of a media and telecoms offensive that pits him against his once-estranged younger brother and threatens to shake up both industries.
Mahindra re-thinking Ssangyong plan, wants to make cars in China Indian conglomerate Mahindra & Mahindra is re-thinking the strategy for its loss-making Korean automaker Ssangyong Motor Co, tapping the brakes on its planned push into the United States to focus instead on China.
Indian tribunal halts Diageo's $75 million payment to liquor baron Mallya An Indian tribunal, heeding a call from a group of creditor banks, has blocked a $75 million settlement agreed between Diageo Plc and liquor baron Vijay Mallya, after he was ousted from the spirits giant's local unit last month.
India to study mergers of state-run banks in efficiency push India will consider merging some of its more than two dozen state-run banks, the finance minister said on Saturday, as the government seeks to improve efficiency at the ailing lenders that dominate the nation's banking sector.
Farmers see Modi's budget as all promise, no delivery Farmer Ram Pal Singh voted for Narendra Modi's promise of "better days" in India's 2014 general election, but he won't be backing the prime minister again even after last week's budget promised more aid to the countryside.
Monsanto threatens to exit India over GM royalty row Monsanto Co, the world's biggest seed company, threatened to pull out of India on Friday if the government imposed a big cut in royalties that local firms pay for its genetically modified cotton seeds.
GLOBAL TOP NEWS Japan Q4 GDP shrinks less than expected, consumption stays weak Japan's economy contracted less than initially estimated in the final quarter of 2015 but private consumption remained weak, underscoring the challenges facing premier Shinzo Abe in restoring growth amid intensifying overseas headwinds.
Fed officials set battle lines on rate hikes ahead of March meet After a long wait for inflation to accelerate, U.S. Federal Reserve officials face a complex and possibly divisive debate over whether recent evidence of rising prices is strong enough to move ahead with planned rate hikes.
Euro zone to discuss Greek debt relief soon, after reform review Euro zone finance ministers will begin discussing debt relief for Greece after once international lenders verify that Athens has carried out promised reforms, Jeroen Dijsselbloem, the chairman of the ministers, said on Monday.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 7,491, down 0.23 pct from its previous close.
The Indian rupee will likely open lower against the dollar, as a wider-than-expected slump in China's exports renewed concerns of a slowdown in Asia's largest economy, dampening demand for regional assets.
Indian government bonds will likely edge higher, as the central bank announced an open market purchase of bonds in a surprise move after market hours on Friday. The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.60-7.65 pct range today.
GLOBAL MARKETS The Dow Jones industrial average and the S&P 500 index closed higher on Monday as a spike in energy shares offset sharp declines in large-cap technology names, which dragged down the Nasdaq.
Asian shares inched higher after global oil prices soared to three-month highs on growing hopes of more coordinated measures from oil-producing countries to stem tumbling prices.
The Australian and Canadian dollars stood at multi-month highs early in the wake of a rally in commodity prices, contrasting with a subdued performance in the greenback, euro and yen.
U.S. Treasury prices fell on Monday in volatile trading as oil prices surged in the wake of a strong February U.S. jobs report, reducing demand for safe-haven government debt ahead of a European Central Bank meeting later in the week.
Brent crude oil prices dipped early, but remained over $40 a barrel after jumping to a 2016-high the previous session as more producers announced talks to support the market and as investors opened new bets on further price rises.
Gold advanced to trade near a 13-month high, supported by a struggling dollar and hopes the U.S. Federal Reserve will not raise interest rates as soon as next week's meeting.
MARKETS CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.97/67.00 March 4 $67.20 bln $36.97 mln 10-yr bond yield 7.80 pct Month-to-date $859.65 mln -$72.97 mln Year-to-date -$2.01 bln -$1.17 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 = 67.08 Indian rupees) (Reporting by Anjali James in Bengaluru)
