Morning News Call - India, May 25
To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_05252016.pdf FACTORS TO WATCH 11:00 am: Oil Minister Dharmendra Pradhan to preside on the launch of discovered small field bid round in New Delhi.
12:30 pm: Union Bank media conference to launch new product in Mumbai.
12:45 pm: Federal cabinet likely to meet in New Delhi. Agenda not given.
GMF:LIVECHAT- BRICS FOCUS: CHINA with Eric Burroughs, Editor, Thomson Reuters With China's economy one of the main drivers of market sentiment, we ask Thomson Reuters Buzz editor Eric Burroughs at 1430 IST whether growth this year is likely to be strong enough to ease concerns. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS Bank of India sees better year ahead after Q4 loss Bank of India, the country's third largest state-run lender by assets, reported a fourth quarter loss, but hopes a gradual upturn in the economy will help to ease the burden of bad loans in its new financial year.
INTERVIEW-India's state banking troubleshooter says it's time for mergers Having bitten the bullet on bad loans, India's state-owned banks now need to merge into half a dozen well-capitalised institutions than can underwrite economic growth, the official overseeing the sector's overhaul said.
Cipla Q4 profit lags due to one-off charges in Europe, emerging markets Cipla Ltd, India's fifth-largest drugmaker by sales, reported a 69 percent fall in its quarterly profit, well below analysts' forecasts, due to one-off costs related to its business in Europe and some emerging markets.
Indian regulator bars two companies from securities markets India's market regulator on Tuesday barred the country's largest edible oil importer, Ruchi Soya Industries, from dealing in the securities markets until a further investigation into potential insider trading violations in castor seed contracts earlier this year.
GLOBAL TOP NEWS Property loans, the glass chin of China banks China's top banks are lending more to homebuyers and developers than at any time since at least the global financial crisis, making them vulnerable to a property market downturn as prices overheat and real-estate firms struggle with a growing debt burden.
Yokohama days: how hard truths won Mitsubishi Motors a lifeline As Mitsubishi Motors acknowledged publicly last month that it cheated on fuel economy tests - its third scandal in two decades - its chief, Osamu Masuko, quietly called in on his counterpart at partner Nissan Motor's headquarters.