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To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_05222018.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 9:30 am: Water Resources Minister Nitin Gadkari at inauguration of a workshop in New Delhi.
12:00 pm: JM Financial Credit Solutions press conference on forthcoming public issue of non-convertible debentures in Mumbai.
3:00 pm: Farm Minister Radha Mohan Singh to release Model Contract Farming and Services (Promotion and Facilitation) Act 2018 in New Delhi.
LIVECHAT- RATINGS We take a look at the outlook for sovereign ratings with Nichola James, co-head of sovereign ratings at DBRS at 2:30 pm. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Three directors quit as takeover fight for India's Fortis drags on Three directors of India's Fortis Healthcare FOHE.NS have quit ahead of a shareholder vote on Tuesday to decide their future, the company said, the latest twist in a prolonged takeover for one of the country's largest hospital operators.
• Top executives at India's fraud-hit PNB misled central bank, police allege Senior executives at India's Punjab National Bank misled the central bank in late 2016 over the lender's handling of the financial messaging system and credit guarantees that were at the centre of a more than $2 billion fraud, Indian police alleged in a charge sheet filed in court.
• U.S. Supreme Court takes up dispute over power plant in India The U.S. Supreme Court on Monday agreed to consider reviving a lawsuit by Indian villagers seeking to hold a Washington-based international financial institution responsible for widespread environmental damage they blame on a power plant it financed.
• Indostar Capital Finance rises 6.1 percent on market debut Shares of Indostar Capital Finance Ltd rose as much as 6.08 percent on their trading debut on Monday after the non-banking finance firm's initial public offering raised 18.44 billion rupees.
• MCX launches India's first copper options India's Multi Commodity Exchange said it launched the country's first copper options contracts on Monday.
GLOBAL TOP NEWS • Trade war fears ebb as U.S., China agree to continue talks Washington and Beijing both claimed victory on Monday as the world's two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost U.S. exports to China.
• Prodded by Trump, FBI to look into complaint about its 2016 tactics The Justice Department agreed on Monday to investigate "any irregularities" in FBI tactics related to President Donald Trump's 2016 campaign after Trump questioned whether an FBI informant had been planted into his political organization.