Morning News Contact – India, December 4

To access the newsletter, click on the link: right here Aspects TO WATCH 11:00 a.m.: Winter session of parliament continues. 2:00 p.m.: NITI Aayog Vice Chairman Arvind Panagariya chairs a panel discussion. 5:00 p.m.: Junior Finance Minister Jayant Sinha at a panel discussion. five:00 p.m.: Weekly foreign exchange data. 6:30 p.m.: RBI Deputy Governor S.S.Mundra at an occasion. GMF: THE WEEKAHEAD - Join Reuters markets editor Mike Dolan as he goes via the key macroeconomic and political themes for the coming week at 1530 IST. To join the conversation, click on the link: right here INDIA Leading NEWS  Forget 'smart' new cities India wants old ones to be less dumb Prime Minister Narendra Modi has grand styles to construct 100 futuristic 'smart' cities in India, but as this week's devastating flooding in Chennai shows, fixing today's accident-prone metropolises appears to be the much more pressing job.  India army on war footing to rescue survivors as flood toll nears 270 The Indian military evacuated a lot more than two,000 residents stranded in the southern state of Tamil Nadu on Thursday as the death toll from flooding rose to 269 right after the heaviest cloudburst in over a century.  Car production halt in flood-hit Indian state might hit sales, exports International carmakers and auto part makers in India's flood-hit southern city of Chennai are becoming forced to preserve factory gates closed till Dec. five at least, which is likely to hit local sales and exports in coming months. [nL3N13S4AX  India targets temple gold hoard to rescue monetisation plan India is trying to persuade rich temples to deposit some of their gold hoards with banks to revive a strategy to recycle tonnes of the precious metal and reduce gold imports, sources said.  Lyft partners with Ola, GrabTaxi to reach Asian markets Lyft has formed new partnerships with two Asian on-demand ride solutions, Ola and GrabTaxi, as the U.S. company works to achieve a toehold in the booming overseas market.  India in talks with Mauritius on tax treaty problems: finmin official India is discussing a complete host of problems with Mauritius such as ways and implies of guaranteeing that a tax treaty with the island nation is not misused, Akhilesh Ranjan, a joint secretary in the tax division told reporters on Thursday.  Weather satellite startup will launch on Indian rocket A Colorado-primarily based startup establishing a satellite network to predict weather utilizing radio signals will launch its first two spacecraft on an Indian rocket, the business stated on Thursday. International Top NEWS  Draghi disappointment raises doubts more than ECB inflation powers A perceived lack of ambition in the European Central Bank's most recent stimulus efforts left financial markets with a niggling worry on Thursday that even 'Super Mario' Draghi may not be able to drag euro zone inflation back up to target.  U.S. authorities look for militant hyperlinks to shooters in California mass slaying The couple suspected of killing 14 people at a vacation celebration in California amassed thousands of rounds of ammunition and a dozen pipe bombs, authorities stated on Thursday as they sought clues to the pair's motives and regardless of whether they had links to Islamist militants.  Australians preserve purchasing in promising sign for Xmas Australian retail sales boasted a third month of solid growth in October as shoppers spent huge on household goods and at division retailers, a promising sign for the all-critical Christmas period. Neighborhood MARKETS OUTLOOK (As reported by NewsRise)  The SGX Nifty Futures was trading at 7,826.00, down .75 percent from its prior close.  The Indian rupee will probably open reduce against the U.S. dollar, as weakness in global equity markets is expected to rub off on local indices, soon after the European Central Bank disappointed with a smaller-than-anticipated stimulus and the Federal Reserve chief Janet Yellen's hawkish comments reinforced price hike bets.  Indian government bonds are likely to open decrease, tracking overnight fall in U.S. Treasury prices, as investors await fresh provide of notes via a weekly auction later in the day. The yield on the benchmark 7.72 percent bond maturing in 2025 is most likely to trade in a 7.69 %-7.75 % range. Global MARKETS  The S&P 500 suffered its biggest drop since late September on Thursday as the European Central Bank disappointed market place hopes for greater stimulus.  Asian shares slipped although the euro retained lavish gains, a day after its biggest 1-day surge in nearly seven years as the European Central Bank's stimulus package fell well brief of markets' high expectations.  The euro held onto lavish gains following boasting its most significant 1-day surge in practically seven years as the newest round of policy easing by the European Central Bank fell effectively brief of investors' lofty expectations.  Yields on U.S. Treasuries jumped on Thursday, following increasing European yields, right after the most recent round of stimulus from the European Central Bank disappointed investors and U.S. Federal Reserve Chair Janet Yellen made a lot more comments that fueled expectations of an interest rate hike this month.  U.S. crude oil costs extended gains, buoyed by a weaker dollar, ahead a closely watched OPEC meeting that is unlikely to alter the group's policy of preserving high output.  Gold added to overnight gains and looked set to snap a six-week losing streak as a slump in the dollar buoyed the metal above 2010 lows ahead of the crucial U.S. nonfarm payrolls information later in the session. MARKETS CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.80/66.83 December 3 -$  91.40 mln -$  62.27 mln ten-yr bond yield 7.71 pct Month-to-date -$  273.56 mln $  51.51 mln Year-to-date $  three.34 bln $  9.54 bln For extra information: India govt bond industry volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Nearby industry closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] (Reporting by Samarendra Sahoo in Bengaluru)