11:30 am: PwC India Partner & Leader Sanjeev Krishan to share views on Indian bankruptcy code and the stressed assets space in Mumbai.
12:15 pm: Tata Capital Financial Services to announce the forthcoming public issue of secured redeemable non-convertible debentures in Mumbai.
LIVECHAT - CHINA FOCUS Alicia Garcia-Herrero, chief economist at Natixis, joins us at 9:30 am IST to discuss leverage/deleverage in China, what to expect next in the trade war with the United States, and her outlook on the RMB. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • India manufacturing growth eases in August on softer domestic demand-PMI Growth in India's manufacturing sector unexpectedly slowed in August as domestic demand softened, a private business survey showed on Monday.
• Indian airline losses could reach $1.9 bln this year -CAPA India Indian airlines are expected to post combined losses of up to $1.9 billion this financial year led by full-service carriers like Air India and Jet Airways driven by rising costs and low air fares, aviation consulting firm CAPA India said.
• EXCLUSIVE-India allows state refiners to use Iran tankers, insurance for oil imports India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country's top shipper Shipping Corp of India halted voyages to Iran due to U.S. sanctions, sources said.
• Anil Agarwal succeeds with Vedanta Resources buyout Vedanta Resources' Chairman Anil Agarwal will take the London-listed miner private on Oct. 1, his family trust said on Monday, a step seen by some in the industry as a prelude to a potentially broader deal with bigger miner Anglo American.
• FOCUS-In India, Google races to parry the rise of Facebook Google retains only a slight lead over Facebook in the competition for digital ad dollars in the crucial India market, sources familiar with the figures say, even though the search giant has been in the country far longer and has avoided the controversies that have dogged its rival.
• IKEA apologises after customer reports caterpillar in his food IKEA has issued an apology to a customer in Hyderabad after he reported finding a caterpillar in his food at the store and posted a photograph of it on Twitter.
GLOBAL TOP NEWS • Argentina unveils 'emergency' austerity measures, grain export taxes Argentine President Mauricio Macri on Monday announced new taxes on exports in the world's third-biggest soy producer and steep cuts to spending in an "emergency" bid to balance next year's budget, as his center-right government aims to persuade the IMF to speed up a $50 billion loan program.
• Nike features NFL's Kaepernick among athletes in 'Just Do It' campaign Nike has chosen Colin Kaepernick, the first NFL player to kneel during the national anthem as a protest against racism, as one of the faces for advertisements commemorating the 30th anniversary of its "Just Do It" slogan, a move that could draw U.S. President Donald Trump's ire.
• Myanmar court jails Reuters reporters for seven years in landmark secrets case A Myanmar judge on Monday found two Reuters journalists guilty of breaching a law on state secrets and jailed them for seven years, in a landmark case seen as a test of progress towards democracy in the Southeast Asian country.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were trading flat at 11,630.50.
• The Indian rupee will likely slip to fresh record lows against the U.S. dollar amid continuing pressure on emerging market currencies and persistent offshore demand for the dollar.
• Indian government bonds will likely edge lower tracking higher crude oil prices and after the rupee fell to yet another record low against the dollar yesterday. The yield on the benchmark 7.17 percent bond maturing in 2028 may trade in a 7.98 percent-8.03 percent band today, a dealer with a private bank said.
GLOBAL MARKETS • Asian shares fell in early trade, amid growing concerns over escalating international trade disputes and as emergency austerity measures in Argentina highlighted turbulence in emerging markets.
• The dollar and the yen strengthened as investors bid up safe haven assets amid tensions around global trade and strains in emerging market currencies.
• U.S. oil prices edged up, rising back past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane.
• Gold inched down as the dollar remained firm near a one-week high on the back of intensifying global trade tensions, but analysts said growing emerging market worries could benefit the metal.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 70.91/70.94 September 3 -$2.97 mln -$100.58 mln 10-yr bond yield 8.0 pct Month-to-date -$277.95 mln -- Year-to-date -$857.46 mln -$5.25 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 = 71.21 Indian rupees) (Compiled by Benny Thomas in Bengaluru)
