To access the newsletter, click on the link: here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 9:45 am: Agriculture Minister Radha Mohan Singh at ASEAN India Ministerial meeting in New Delhi. 10:00 am: Commerce Secretary Rita Teaotia, NITI Aayog Additional Secretary Yaduvendra Mathur at Assocham's Role of Trade Finance for Inclusive Growth conference in Mumbai. 5:00 pm: RBI to release weekly foreign exchange data in Mumbai. 5:30 pm: Government to release December consumer price inflation data in New Delhi. 5:30 pm: Government to release November Industrial output data in New Delhi. GMF: LIVECHAT-QUIZ EAST The first of our Friday quizzes at 12:00 pm IST focuses on Asia and the week's top news. Tests your wits and googling speed. To join the conversation, click on the link: here INDIA TOP NEWS • Tata Consultancy hopeful of insurance business rebound Tata Consultancy Services Ltd, India's top IT services firm, said its insurance services business would soon post faster growth thanks to higher client spending but remained cautious on a turnaround in its key banking segment. •PwC to fight Indian audit ban to limit franchise impact Price Waterhouse will contest a two-year auditing ban by India's market regulator over a fraud nearly a decade ago at a company it audited, but even if it succeeds in preventing the move Indian business experts expect damage to the auditor's business. •IndusInd Bank Q3 net profit jumps 25 percent IndusInd Bank Ltd said on Thursday third-quarter net profit rose nearly 25 percent, helped by higher interest income. •India's 2017 oil demand growth posts lowest gain since 2013 Indian oil consumption in 2017 grew at its slowest in four years, according to government statistics, hit by the government's demonetisation move and a tax increase that knocked the gain in fuel use back to a modest 2.3 percent. •India's fixed income body sets higher levels for Dec-end bond yields India's fixed income trade body set yields for government bonds at levels higher than the actual closing levels for the quarter from October to December, a top official of the market association told Reuters on Thursday. GLOBAL TOP NEWS •U.S. House passes NSA spying bill after Trump tweets cause confusion The U.S. House of Representatives on Thursday passed a bill to renew the National Security Agency's warrantless internet surveillance program, overcoming objections from privacy advocates and confusion prompted by morning tweets from President Donald Trump that initially questioned the spying tool. •Walmart hikes minimum wage, announces layoffs on same day Walmart on Thursday said it will raise entry-level wages for U.S. hourly employees to $11 an hour in February as it benefits from last month's major corporate tax cut and on the same day said it will shut stores and lay off thousands of workers. •AMD chips exposed to both variants of Spectre security flaw Advanced Micro Devices Inc said on Thursday its microprocessors are susceptible to both variants of the Spectre security flaw, days after saying its risk for one of them was "near zero". LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures were trading at 10,703.00, trading up 0.4 percent from its previous close. The Indian rupee will likely trade higher against the dollar in early session, in line with most Asian currencies as weak U.S. producer prices data and gains in euro amid bets that the European Central Bank may trim its monetary policy stimulus. Indian government bonds are expected to ease in early trade ahead of a weekly debt auction. Investors are also awaiting retail inflation data for December due later today. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 7.42 percenr-7.46 percent band today. GLOBAL MARKETS • Wall Street closed at record highs on Thursday as rising oil prices lifted energy stocks and investors bet on a strong U.S. corporate earnings season. • Asian stocks resumed their ascent, supported by U.S. earnings optimism and a rise in oil prices while the euro edged higher as the European Central Bank signalled an end to its massive stimulus. • The dollar slumped against rivals on the back of weak factory inflation data, while the euro enjoyed solid support after the European Central Bank hinted that it could be gearing up to trim its massive monetary stimulus. • Treasury yields fell on Thursday after China disputed a report that its government officials had recommended the country slow or halt its purchases of U.S. bonds. • Oil prices eased after hitting their highest levels since December, 2014 the previous day. • Gold prices rose for a third straight session on a weaker dollar, with the precious metal on track for a fifth straight weekly gain. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 63.65/63.68 January 11 -$97.99mln $329.41mln 10-yr bond yield 7.40 pct Month-to-date $341.26mln $671.24mln Year-to-date $341.26mln $671.24mln 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 = 63.68 Indian rupees) (Compiled by Pathikrit Bandyopadhyay in Bengaluru)
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NEW YORK Walmart on Thursday said it will raise entry-level wages for U.S. hourly employees to $11 an hour in February as it benefits from last month’s major corporate tax cut and on the same day said it will shut stores and lay off thousands of workers. | Video
The U.S. House of Representatives on Thursday passed a bill to renew the National Security Agency’s warrantless internet surveillance program, overcoming objections from privacy advocates and confusion prompted by morning tweets from President Donald Trump that initially questioned the spying tool. Full Article