TOKYO - Asian shares took their cues from Wall Street and kicked off a holiday-shortened week on a strong footing on Monday, while the euro touched a fresh two-year low against the greenback on divergent monetary policy expectations.
Reuters Market Eye - The rupee is slightly higher at 63.2675/2750 vs close of 63.2950/3050.
The head of RSS, India's most powerful Hindu group, vowed to press ahead with a campaign to convert Muslims and Christians to Hinduism, stoking a sensitive debate that has stalled parliament and threatened PM Narendra Modi's economic reform agenda. Full Article
Ten years ago, the boss of Qatar Airways, who takes his first new A350 jet this week, warned Airbus it was flying off course. But it took another two years of sales setbacks and doubts at the highest management level before Airbus agreed to build the A350XWB to be delivered on Monday. That story is revealed here after interviews with customers, suppliers and industry sources. Full Article
SpiceJet’s woes are all too familiar. India is cajoling banks to lend to the country’s second largest single-brand carrier when the debt-ridden airline needs more equity. The government’s hope is to save jobs and prevent a repeat of the failure of Kingfisher Airlines. Even if the rescue works, exorbitant fuel taxes and lack of a bankruptcy law will keep the industry stuck in an air pocket. Full Article
Uber’s law flouting could bring its joyride to a screeching halt. The taxi app company is covering its drivers’ fines for illegally picking up passengers. That may be just another business expense to a firm that earned a $40 billion valuation by moving quickly and breaking the rules. But the legal, lobbying and public relations costs of reckless behavior are accelerating fast. Full Article
Saudi Arabia is once again using its “oil weapon”. The kingdom has two targets in its latest oil war: it is trying to squeeze U.S. shale oil - which requires higher prices to remain competitive with conventional production - out of the market. More broadly, the Saudis are also punishing two rivals, Russia and Iran, for their support of Bashar al-Assad’s regime in the Syrian civil war. Commentary
As the tenth anniversary of the 2004 Tsunami disaster approaches, experts and officials say weaknesses remain across the region in a system which had been designed to warn people and get them to safer areas. Full Article