morning news call - thomson...

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MORNING NEWS CALL FACTORS TO WATCH 11:00 am: RBI Governor Urjit Patel to appear before parliament's standing committee on finance in New Delhi. 3:00 pm: Power Minister R.K. Singh to appear before a parliament panel over resolution of stressed assets in the power sector in New Delhi. 5:30 pm: Government to release May consumer price inflation data in New Delhi. 5:30 pm: Government to release April Industrial output data in New Delhi. LIVECHAT - FED FOCUS John Noonan , Head of IFR FX Watch Asia, previews the all-important June 13 Fed meeting for us, and analyses cues and views for market moves post-Fed at 0930 IST. To join the Global Markets Forum, click here . INDIA TOP NEWS India set to miss key target for Japan-backed bullet train project-sources India is set to miss a December deadline to acquire land for a Japan-backed $17 billion bullet train project following protests by fruit growers, government officials said, likely delaying one of Prime Minister Narendra Modi's most ambitious projects. With assembly team and samosas, IKEA lays ground for India debut IKEA is set to open its first store in India next month, and the world's biggest furniture retailer is localizing its offering - from the food menu to its "do-it-yourself" (DIY) assembly model - to ensure success in the country. Jaguar to cut more UK jobs as it moves Discovery output to Slovakia Jaguar Land Rover is set to cut more jobs in Britain as it moves all production of its Discovery car to lower-cost Slovakia before building its new Range Rover at an English factory. Police asks Interpol to issue arrest notice for billionaire jeweller Nirav Modi The federal police has asked Interpol to help locate and arrest billionaire jeweller Nirav Modi, who is at the heart of a $2- billion-plus bank fraud case, a federal police source said on Monday. Modi's plan to get millions more Indians flying faces turbulence The slow pace of fitting out regional airports risks delaying Indian Prime Minister Narendra Modi's ambitious plan to launch more flights connecting smaller towns and cities and get millions more people using air travel. Tata Steel Europe workers question rationale of Thyssenkrupp tie-up Tata Steel's European works council said it is unconvinced by a planned joint venture with Thyssenkrupp, raising the chances that the deal will be delayed or even fail in its current form. Nayara Energy begins cutting Iran oil imports - sources Refiner Nayara Energy, one of the country's biggest buyers of Iranian oil, began cutting imports this month after the United States scrapped a nuclear deal with Tehran and said it would re-impose tough sanctions, three people familiar with knowledge of the matter said. Airtel's Kenyan unit abandons plan to merge with Telkom The Kenyan unit of Bharti Airtel has abandoned plans to merge with Telkom Kenya to take on the market leading operator Safaricom, industry and government sources said on Monday.

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Page 1: MORNING NEWS CALL - Thomson Reutersshare.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN... · MORNING NEWS CALL FACTORS TO WATCH 11:00 am: RBI Governor Urjit Patel to appear

MORNING NEWS CALL

FACTORS TO WATCH

11:00 am: RBI Governor Urjit Patel to appear before parliament's standing committee on finance in New Delhi.

3:00 pm: Power Minister R.K. Singh to appear before a parliament panel over resolution of stressed assets in the power

sector in New Delhi.

5:30 pm: Government to release May consumer price inflation data in New Delhi.

5:30 pm: Government to release April Industrial output data in New Delhi.

LIVECHAT - FED FOCUS

John Noonan , Head of IFR FX Watch Asia, previews the all-important June 13 Fed meeting for us, and analyses cues

and views for market moves post-Fed at 0930 IST. To join the Global Markets Forum, click here .

INDIA TOP NEWS

India set to miss key target for Japan-backed bullet train project-sources

India is set to miss a December deadline to acquire land for a Japan-backed $17 billion bullet train project following

protests by fruit growers, government officials said, likely delaying one of Prime Minister Narendra Modi's most

ambitious projects.

With assembly team and samosas, IKEA lays ground for India debut

IKEA is set to open its first store in India next month, and the world's biggest furniture retailer is localizing its offering -

from the food menu to its "do-it-yourself" (DIY) assembly model - to ensure success in the country.

Jaguar to cut more UK jobs as it moves Discovery output to Slovakia

Jaguar Land Rover is set to cut more jobs in Britain as it moves all production of its Discovery car to lower-cost Slovakia

before building its new Range Rover at an English factory.

Police asks Interpol to issue arrest notice for billionaire jeweller Nirav Modi

The federal police has asked Interpol to help locate and arrest billionaire jeweller Nirav Modi, who is at the heart of a $2-

billion-plus bank fraud case, a federal police source said on Monday.

Modi's plan to get millions more Indians flying faces turbulence

The slow pace of fitting out regional airports risks delaying Indian Prime Minister Narendra Modi's ambitious plan to

launch more flights connecting smaller towns and cities and get millions more people using air travel.

Tata Steel Europe workers question rationale of Thyssenkrupp tie-up

Tata Steel's European works council said it is unconvinced by a planned joint venture with Thyssenkrupp, raising the

chances that the deal will be delayed or even fail in its current form.

Nayara Energy begins cutting Iran oil imports - sources

Refiner Nayara Energy, one of the country's biggest buyers of Iranian oil, began cutting imports this month after the

United States scrapped a nuclear deal with Tehran and said it would re-impose tough sanctions, three people familiar

with knowledge of the matter said.

Airtel's Kenyan unit abandons plan to merge with Telkom

The Kenyan unit of Bharti Airtel has abandoned plans to merge with Telkom Kenya to take on the market leading

operator Safaricom, industry and government sources said on Monday.

Page 2: MORNING NEWS CALL - Thomson Reutersshare.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN... · MORNING NEWS CALL FACTORS TO WATCH 11:00 am: RBI Governor Urjit Patel to appear

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GLOBAL TOP STORIES

Trump says summit is "very, very good", Kim calls it prelude to peace

U.S. President Donald Trump said he had forged a "good relationship" with North Korean leader Kim Jong Un at the

start of a historic summit in Singapore, as the two men sought ways to end a nuclear standoff on the Korean peninsula.

Trump economic adviser Kudlow in good condition after heart attack

Top White House economic adviser Larry Kudlow, a staunch defender of President Donald Trump's tough stance on

global trade, was in good condition in a Washington-area hospital after suffering a heart attack, the White House said.

U.S. reveals ZTE settlement details, ban still in place

ZTE's settlement with the U.S. Commerce Department that would allow China's No. 2 telecommunications equipment

maker to resume business with U.S. suppliers was made public on Monday, days after the company agreed to pay a $1

billion fine, overhaul its leadership and meet other conditions.

STATE OF THE MARKETS

The SGX Nifty nearest-month futures were trading down 0.1 percent at 10,776.50. -NewsRise

The Indian rupee is expected to open marginally lower against the dollar, tracking the weakness in other regional

currencies, as a historic summit between the U.S. and North Korea began.-NewsRise

Indian government bonds will likely trade steady to lower in early session ahead of an auction of state papers, while

investors also await the key retail inflation data later in the day. Yield on the benchmark 7.17 percent bond maturing in

2028 is likely to trade in a 7.94 percent - 8.00 percent band. -NewsRise

All three major U.S. stock indexes closed slightly higher on Monday as investors eyed the looming United States-North

Korea summit on Tuesday in Singapore while shrugging off the weekend's factious meeting of the Group of Seven

nations.

The dollar jumped to a 3-week top on while stock markets in Asia were choppy as an historic U.S.-North Korea

summit got underway in Singapore, raising some hopes it could pave the way to ending a nuclear stand-off on the

Korean peninsula.

U.S. Treasury yields rose on Monday before the Federal Reserve is expected to raise interest rates on Wednesday,

though the Treasury Department saw solid demand for $54 billion in new three and 10-year notes.

Oil prices edged up along with global markets on cautious optimism over the outcome of a summit between U.S.

President Donald Trump and North Korean leader Kim Jong Un in Singapore.

Gold prices edged lower, weighed down by a stronger dollar amid encouraging signs ahead of an historic U.S.-North

Korea summit and a likely interest rate hike by the U.S. Federal Reserve.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 67.41/67.44 June 11 -$171.5 mln -$119.4 mln

10-yr bond yield 8.14 pct Month-to-date $413.48 mln -$336.57 mln

Year-to-date $168.83 mln -$4.56 bln

Page 3: MORNING NEWS CALL - Thomson Reutersshare.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN... · MORNING NEWS CALL FACTORS TO WATCH 11:00 am: RBI Governor Urjit Patel to appear

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PICTURE OF THE DAY

A man reads the Koran inside his shop selling second-hand automobile parts during the holy month of Ramadan in Mumbai, June 11. REUTERS/Francis Mascarenhas.

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