GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange fell 0.5 percent. The MSCI-Asia Pacific index, excluding Japan , is down 0.78 percent. * Asian shares slid on Friday after a Republican proposal to fend off a U.S. fiscal crunch failed to get enough support, deepening uncertainty over prospects for the negotiations to avert automatic spending cuts and tax increases set to start in January. * U.S. stock index futures fell sharply after U.S. House of Representative Speaker John Boehner conceded that his tax bill designed to help avert the "fiscal cliff" lacked the votes to pass. FACTORS TO WATCH * India foreign exchange reserves data (1130 GMT) INDIAN STOCKS TO WATCH For additional press items double click NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy. TOP NEWS * U.S. House of Representatives Speaker John Boehner faced an embarrassing setback on Thursday when he failed to unite his Republican lawmakers behind an effort designed to extract concessions from President Barack Obama in year-end "fiscal cliff" talks. * India's upper house of parliament approved the long-awaited banking amendment bill as the country seeks to attract foreign investment and increase the number of lenders in the country. (Reuters) ENERGY/COMMODITIES * The government's stake sale in Steel Authority of India Ltd may take place in February, but there is still no clarity on the sale for Rashtriya Ispat Nigam Ltd, according to a senior government official. (Business Line) here * The telecom department (DoT) is set to approve Reliance Industries' demand that it be allowed to test voice services on its upcoming fourth generation (4G) networks. (Economic Times) here * Separately, SEBI has rejected a third attempt by Reliance Industries, the country's largest private sector firm, for an out-of-court settlement of insider trading charges, unidentified sources were quoted as telling The Economic Times.(Economic Times) here FINANCIAL * India will soon make it mandatory for foreign investors to declare their source of funds while investing in sensitive sectors, a senior finance ministry official said. (Economic Times) here * Six bulge bracket private equity (PE) funds have been short-listed to purchase a 70 percent stake owned by private equity fund Warburg Pincus in the unlisted Alliance Tire Group , three people with direct knowledge of the development said. (Economic Times) here * The Shriram Group has moved its non-financial businesses worth 45 billion rupees to anew holding firm,Shriram Venture, to meet Reserve Bank of India (RBI) norms and apply for a banking licence, a top official of the Chennai-based firm said. (Mint) here INDUSTRIAL * Adani Enterprises Ltd set the floor price for a planned sale of 23 million shares by promoters at 282 rupees per share. (Reuters) RETAIL * IKEA has asked the government to reconsider the decision to bar it from selling several products in its proposed stores in India and wants its original proposal to be approved in entirety, a person familiar with the development said.(Economic Times) here TELECOMS * The telecom department has estimated the exchequer will get a minimum of 397.98 billion rupees if the government sells all airwaves that are put up for sale at the base price during the next round of spectrum auctions in March 2013. (Economic Times) here AIRLINES * A bid by grounded Indian carrier Kingfisher Airlines to renew its operating licence, which expires at the end of the year, will not succeed until it submits a turnaround plan, a senior aviation regulatory source said on Thursday. (Reuters) AUTOS * The board of Mahindra & Mahindra has given its loss-making truck subsidiary, Mahindra Navistar Automotive Ltd (MNAL), three years to turn around the business, Pawan Goenka, president of the automotive and farm equipment business told analysts in a conference call. (Economic Times) here PHARMA * Sanofi said its Merial unit signed an agreement to buy the animal health business of drugmaker Dosch Pharmaceuticals to boost its presence in the growing Indian market. (Reuters)
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