GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange fell 0.3 percent. The MSCI-Asia Pacific index, excluding Japan was down 0.34 percent. * Asian shares fell on Thursday after two strong days of gains, as investors focused on meetings of the central banks of Japan, Britain and the euro zone for signs of more policy stimulus, while solid U.S. economic data underpinned the dollar. * Wall Street mostly edged higher on Wednesday, with the Dow hitting another record, helped by a private payroll survey that bodes well for the monthly jobs report due at the week's end. FACTORS TO WATCH * India's ruling Congress party will host an party meeting, intending to build parliamentary consensus for a land acquisition bill it wants to pass in the current session. 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 government is looking to cut withholding tax rate for foreign investments in all types of corporate bonds, as it eyes fresh measures to top up the budget proposals when finance minister P Chidambaram replies to the debate in parliament, an unnamed senior finance ministry official said. (Economic Times) * SEBI will allow the listing of preference shares on stock exchanges to make it easier for banks and infrastructure companies to raise funds, The Economic Times reported without citing sources. (Economic Times) * Citigroup's former CEO, Vikram Pandit has held preliminary talks with a few private equities and Indian government officials to potentially become a co-applicant for a banking licence in India, Business Standard reported, citing two sources familiar with the developments. (Business Standard) * Indian banks' advances were sluggish at the end of 10 months in the ongoing financial year to March, provisional data from the Reserve Bank of India showed on Wednesday. (Reuters) * NYSE Euronext has launched the sale of its 4.8 percent stake in the Multi-Commodity Exchange of India (MCX) in a deal that could raise up to $46 million, a source with direct knowledge said. (Reuters) ENERGY/COMMODITIES * Coal India Ltd said it might have to slash prices of its high-quality coal, Business Standard reported citing an unidentified top company executive. (Business Standard) * The finance ministry and the Planning Commission support the coal ministry's view that the government should reject a plan that seeks to sell coal to power plants at a uniform price by taking a weighted average cost of the fuel from local and imported sources, according to coal secretary S.K. Srivastava. (Mint) *Indian ship builder ABG Shipyard Ltd and Tano Capital, a private investment fund of former Franklin Templeton president Chuck Johnson, are selling unlisted Italian electric motor maker Cemp for about 3 billion rupees, or $55 million, said people directly briefed on the matter. (Times of India) TELECOMS * India will allow Norway's Telenor to offset the 16.58 billion rupees that had been paid by its former partner Unitech Ltd in 2008 to obtain mobile permit in all 22 regions, an official with direct knowledge of the developments told The Economic Times. (Economic Times) AUTOS * Mahindra and Mahindra Ltd says employees at its Nashik plant continue to strike, adding a production loss of around 500 vehicles and will have no immediate impact on sales. (Reuters) * Separately, Mahindra and Mahindra set the floor price for its stake sale in Mahindra Holidays and Resorts India Ltd at 270 rupees per share. (Reuters) AIRLINES * Singapore-based low-cost carrier Tiger Airways is exploring the possibility of a strategic partnership with an India-based airline, Singapore, Commercial Director, Kaneswaran Avili told Press Trust of India in an article carried by The Economic Times. (PTI in Economic Times) PHARMA * Elder Pharmaceuticals Ltd to create joint venture with KOSE Corporation of Japan wherein KOSE will hold 60 percent of the cosmetic products JV and the remainder will be held by Elder. (Reuters)
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