US approves ChemChina's $43 bn takeover of Syngent 

Under a preliminary settlement, the FTC yesterday said it required the divestitures to address a loss of competition over the herbicide paraquat and two other products in which the merger would have likely led to higher prices for consumers. US approves Chem China's $43 bn takeover of Syngenta" US antitrust regulators approved Chem China's USD 43 billion takeover of Swiss pesticide and seed giant Syngenta after they agreed the Chinese company must sell three products, the Federal Trade Commission has said. The deal would mark the largest foreign takeover by a Chinese firm. Under a preliminary settlement, the FTC yesterday said it required the divestitures to address a loss of competition over the herbicide paraquat and two other products in which the merger would have likely led to higher prices for consumers. The US federal agency said the deal, as originally proposed, created antitrust problems because Chem China's generics subsidiary ADAMA is either the first- or second-largest generics supplier in the United States for the three products in question. The other two products are the insecticide aba mectin, which protects primarily citrus and tree nut crops, and the fungicide chloro thalonil, which protects peanuts and potatoes.

US funding cut to UNFPA may have devastating effects: 

UN chief The UN chief said that cutting financial support for the UN Population Fund, formerly the United Nations Fund for Population Activities (UNFPA), which is active in more than 150 countries and territories, is based on a misinterpretation of the agency's work UN Secretary-General Antonio Guterres has voiced "deep regret" at the US' decision to cut financial support for the United Nations Population Fund, saying the move could have "devastating effects" on the health of vulnerable women and girls around the world The UN chief said that cutting financial support for the UN Population Fund, formerly the United Nations Fund for Population Activities (UNFPA), which is active in more than 150 countries and territories, is based on a misinterpretation of the agency's work. "The Secretary-General deeply regrets the decision by the United States to cut financial support for the UN Population Fund, which could have devastating effects on the health of vulnerable women and girls and their families around the world," a statement issued by Guterres' spokesperson here said yesterday.

PM Modi inaugurates India's longest road tunnel 

 The 9-km long 'Chenani–Nashri Tunnel', built at the cost of Rs 2,500 crore, was dedicated to the nation by the Prime Minister here in presence of Jammu and Kashmir Governor N N Vohra and Chief Minister Mehbooba Mufti. Prime Minister Narendra Modi inaugurated the country's longest road tunnel that links Kashmir Valley with Jammu by an all-weather route and reduces the distance by 31 kms. The 9-km long 'Chenani–Nashri Tunnel', built at the cost of Rs 2,500 crore, was dedicated to the nation by the Prime Minister here in presence of Jammu and Kashmir Governor N N Vohra and Chief Minister Mehbooba Mufti. After the inauguration, Modi, along with Vohra and Mehbooba, travelled in an open jeep through the tunnel for some distance. The Prime Minister, the Governor and the Chief Minister then posed for a photograph with the engineers who were involved in construction of the tunnel.

Indian markets bet on a hands-off RBI and stronger rupee

 Those modest measures have sparked a range of speculative theories, including a view that the RBI's reticence is intended to keep India from appearing on U.S. President Donald Trump's currency manipulator radar. The Reserve Bank of India's mysterious tolerance of a stronger rupee has completely upended market expectations, with traders who once braced for record lows becoming their most exuberantly bullish since Narendra Modi was elected Prime Minister in May 2014. Bullish bets are piling up, with the Reserve Bank of India surprising investors with only feeble attempts to curb a rupee rally. Those modest measures have sparked a range of speculative theories, including a view that the RBI's reticence is intended to keep India from appearing on U.S. President Donald Trump's currency manipulator radar. Regardless of the RBI's intentions, traders appear emboldened to aggressively short dollar/rupee in spot markets, even as the rupee has hit its strongest against the dollar since October 2015 at 64.7650, to become the best performer among Asian peers.

India factory activity at five-month high in March on strong demand:

 PMI The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 52.5 in March, from 50.7 in February, the third month in a row that is has been above the 50 mark that separates growth from contraction. Activity in India's manufacturing sector expanded at the fastest pace in five months in March as output and new orders accelerated, according to a private survey that also showed price pressures eased.

China March factory activity expands but at slower pace: 

 Caixin The Caixin/Markit Manufacturing Purchasing Managers' index (PMI) fell to 51.2 in March, missing economist forecasts' of 51.6 and down from February's 51.7. Activity at China's factories expanded for a ninth straight month in March but at a softer pace as new export orders slowed, a private survey showed, raising questions about whether a recent pickup in global demand is losing steam. The Caixin/Markit Manufacturing Purchasing Managers' index (PMI) fell to 51.2 in March, missing economist forecasts' of 51.6 and down from February's 51.7. While the index was still well above the 50.0 mark which separates expansion from contraction on a monthly basis, the rates of growth in output, total new orders, input and output prices all slipped in March from the previous month. Growth in export orders slowed sharply, falling to a three-month low of 51.9 from 53.8 in February. The findings contrast with those of China's official factory survey on Friday, which showed activity grew the fastest in nearly 5 years in March. It also showed orders improved from home and abroad But the Caixin/Markit survey tends to focus more on small and mid-sized manufacturers, which may be benefitting less from a months-long construction boom than big industrials such as steel mills. A sub-index of the official survey had showed small companies were still struggling, though conditions were slowly improving.

Will get down to 'serious business': Trump on meeting with Xi Jinping 

"Next week, as you know, in Florida at the southern White House, we're having the president of China and a large group from China, his representatives, and we're going to get down to some very serious business," Trump told reporters at an Oval Office ceremony to sign executive orders on trade. US President Donald Trump has said he will get down to some "very serious business" with his Chinese counterpart Xi Jinping when they meet next week for their first summit. "Next week, as you know, in Florida at the southern White House, we're having the president of China and a large group from China, his representatives, and we're going to get down to some very serious business," Trump told reporters at an Oval Office ceremony to sign executive orders on trade. On April 6 and 7, Trump and Xi would meet at the President's Mar-a-Lago residence in Florida, often described as the 'Southern White House'. "We look forward to it (meeting with Xi). I've spoken to him numerous times on the phone. We look very much forward to it," Trump said.