6:00 pm: Finance Minister Arun Jaitley, Textiles Minister Smriti Irani, NITI Aayog CEO Amitabh Kant, Commerce Minister Suresh Prabhu at APEC Export Awards.
GMF: LIVECHAT – 2018 INVESTMENT OUTLOOK Get an investment outlook for the year ahead with Rory McPherson, Head of Investment Strategy, Psigma at 1530 IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS India's Adani drops contractor for Australian coal mine India's Adani said it had canceled plans with Downer EDI to help develop and run its Carmichael coal mine in Australia after failing to secure a cheap government loan for the A$16.5 billion project.
India government ignored warnings over GST roll out-sources The Indian government ignored several warnings from private companies that the complex technology required for a nationwide goods and services tax (GST) to work smoothly was not ready for launch, several people who worked on the project said.
Tobacco industry trumps as India court cancels stringent health labelling rules An Indian court on Friday quashed federal rules that mandated stringent graphic health warnings on tobacco products, lawyers involved in the case said, in a decision seen as a major victory for the tobacco industry and a setback for health advocates.
Italy's CDP, Intesa set for role in ArcelorMittal bid for Ilva -source Italy's state holding company CDP and Intesa Sanpaolo have signed a non-binding agreement to join ArcelorMittal's bid to buy Italian steelmaker Ilva, a source close to the matter said on Friday.
GLOBAL TOP NEWS Japan export growth accelerates, underscores steady economic recovery Japan's export growth accelerated in November to mark a full year of annual gains, underscoring the strength of external demand that has led the economy to its second-longest run of postwar growth.
Thai Bev only bidder seeking to buy $5 bln stake in Vietnam's Sabeco Thai Beverage, through a local unit, emerged as the only bidder keen to buy all shares on offer of Vietnam's top brewer Sabeco worth nearly $5 billion, as Vietnam conducts an auction in its biggest privatisation process.
Australia's ANZ reveals $1.2 bln buy-back, hints more to come Australia and New Zealand Banking Group said it would start buying back up to A$1.5 billion of its shares on-market, as it begins returning surplus capital to shareholders after a series of divestments.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 10,403.00, up 0.4 percent from its previous close.
The Indian rupee will likely open slightly lower against the dollar, in line with most other Asian currencies, as top Republican lawmakers expect the U.S. Congress to approve a long-pending tax reform bill as early as this week, lifting demand for the greenback.
Indian government bonds will likely open little changed ahead of state election results, even as investors remain focused on the government’s fiscal stance. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 7.11 percent-7.16 percent band.
GLOBAL MARKETS • Wall Street's three major indexes climbed to record closing highs on Friday with broad-based gains as a long-awaited bill to cut corporate tax rates looked like it would win enough support from lawmakers to pass.
• Asian shares inched up, tracking Wall Street, which hit record highs on expectations U.S. lawmakers will pass a long-awaited tax bill, while the British pound hovered near 3-week lows amid Brexit talks.
• The dollar held modest gains against the euro and yen, having received a lift after U.S. tax reform efforts moved another step closer to ratification over the weekend.
• The margin between U.S. shorter-dated and longer-dated Treasury yields shrank to its smallest in a decade on Friday, based on traders' expectations that the Federal Reserve would increase short-term interest rates further and long-term inflation would stay tame.
• Oil markets were stable, hovering around Friday's levels as a lack of conclusive market indicators prevented prices from swinging either way.
• Gold prices inched down early on Monday, pressured by firmer equities and a buoyant dollar after a bill to overhaul the tax system in the United States moved a step closer to ratification.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.12/64.15 December 15 -$143.75 mln $109.93 mln 10-yr bond yields 7.18 pct Month-to-date -$390.82 mln $343.57 mln Year-to-date $8.30 bln $26.08 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 = 64.0700 Indian rupees)
