GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange rose 0.4 percent. The MSCI-Asia Pacific index, excluding Japan was flat. * Asian shares nudged higher on Wednesday as investor appetite for riskier assets improved amid upbeat U.S. earnings and better German investor confidence. * Bank and commodity shares led the benchmark Standard & Poor's to a fresh five-year closing high on Tuesday on hopes that the global economy continues to mend. FACTORS TO WATCH * Reliance Communications Ltd, Zee Entertainment Enterprises Ltd earnings. 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. FINANCIAL/REGULATORY * The Reserve Bank of India has urged banks to offer more long-term fixed-rate loan products in contrast to the current bias of lenders towards floating-rate products, to protect borrowers from interest rate fluctuations. (Reuters) * The Indian central bank has allowed exporters to access the foreign exchange market without having to first exhaust funds in their foreign currency accounts, reversing a previous restriction imposed to prevent a sharp fall in the rupee.(Reuters) * Allahabad Bank will sell 5.4 billion rupees worth of non-performing assets to asset reconstruction companies, said Shubhalakshmi Panse, chairperson and managing director at the lender. (Business Standard) here * Consim Info, the holding company of online matchmaker Bharatmatrimony, has started discussions with investment banks for a share sale of up to $125 million, according to people briefed on the matter. (Times of India) here ENERGY/COMMODITIES * Reliance Industries Ltd shut its eighth well on the main gas fields in KG-D6 block, leading to output plummeting to 20.88 mmscmd, according to a status report of the Directorate General of Hydrocarbons, Press Trust of India reported in an article carried by The Economic Times. (PTI via Economic Times) here AIRLINES * Kingfisher Airlines needs at least 10 billion rupees ($185.65 million) to restart its grounded operations and must also demonstrate an ability to sustain itself for at least 6 months, India's civil aviation minister said on Tuesday. (Reuters) * ILFC, one of the world's largest leasing firms, has warned India the failure of troubled carriers like Kingfisher Airlines Ltd to return airplanes when they cannot pay their bills could put the country's aviation growth at risk by scaring away new funding. (Reuters) * British Airways is in talks with India's biggest carrier, IndiGo, over a ticketing and baggage sharing agreement, a source with direct knowledge of the discussions said on Tuesday.(Reuters) INFRASTRUCTURE * The ministry of environment and forests has granted in-principle forest clearances to four highway projects, including the one that GMR Infrastructure Ltd had exited recently, according to a government official aware of the developments. (Mint) here RETAIL * A number of investment banks, including Credit Suisse and Nomura, cut their ratings on Hindustan Unilever Ltd, a day after India's largest consumer goods maker disappointed investors with slower-than-expected volume growth and a hike in royalty payments. (Reuters)
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