LIFE IS FULL OF GREAT OPPORTUNITIES. ENCOURAGE EVERYONE TO COME ALONG. HAPPY WEEKEND.

Macro Economic News 28 Jul 2018

 

The U.S. economy grew at the strongest pace in nearly four years during the second quarter, powered by a rebound in consumer spending, exports and firm business investment. President Trump told an Iowa crowd this week that “we just opened up Europe for you farmers,” but officials in Brussels said he did no such thing. All critical personal data on people in India should be processed within the country, a government panel said. The recommendation comes at a time when data breaches are becoming common globally and there is heightened scrutiny by governments on how companies handle user data.

 

FINANCIAL TIMES

[I]  Trump hails fastest US growth rate since 2014

[I]  Germany’s increasingly bold nationalists spark a new culture war

[I]  Spain’s Socialist government loses first major parliamentary vote

[I]  Americans have been saving more than was thought

[I]  Immigrants say casual racism is rising in Germany

[I]  Imran Khan starts to build governing coalition in Pakistan

[I]  Zimbabwe’s historic poll poses tough challenge for youthful pastor

[I]  Car industry braces for trade war ‘tsunami’

[I]  Germany acts to protect energy group from Chinese

[I]  Small UK gambling companies look across Atlantic for growth

 

REUTERS

[I]  Panel proposes 'India only' policy for critical data

[I]  Exclusive: India's milk powder exports to surge on subsidies, dampen global prices

[I]  Higher U.S. soy imports won't harm EU farmers: German minister

[I]  Greek PM takes responsibility for wildfire as criticism mounts

[I]  In test of re-election prospects of Australian PM, by-election voting begins

[I]  California farmers and Mexican cheese sales, U.S. trade war takes a toll

[I]  Britain's 'furnace Friday' to test temperature records

[I]  India's 2017-18 thermal coal imports up eight percent: govt data

[I]  Trump hails growth as one-offs and consumers boost economy

 

BLOOMBERG 

[I]  Big Oil Leaves Analysts Fuming About Being in the Dark on Refinery Outages

[I]  Hot-Not-Boiling Job Market Spurs Pay Raises and Efficiency Hacks

[I]  Rates Traders Are Less Rosy Than White House About U.S. Outlook

[I]  A Booming Economy Hasn’t Given House GOP Candidates an Election Edge

[I]  Bitcoin Bounces as Traders Seek Silver Lining in SEC ETF Denial

[I]  These Nine BOE Policy Makers May Decide to Raise Interest Rates

[I]  Americans Have Been Saving Much More Than Thought, New Data Show

[I]  China Stimulus, U.S.-EU Agreement Lure EM Bulls Back: EM Review

 

WALL STREET JOURNAL

[I]  U.S. Economy Grew at 4.1% Rate in Second Quarter

[I]  Analysis: Solid Economy With Room to Run

[I]  Tariff Fears Tug on U.S. Consumer Sentiment

[I]  When the World Opened the Gates of China

[I]  The Competing Views Shaping U.S.-China Trade Policy

[I]  Homeownership in U.S. Keeps Climbing

[I]  Why Fourth Quarters Are the New Growth Laggards

[I]  Germany Vetoes Chinese Purchase of Business Citing Security Grounds

[I]  Fannie Mae Debt Sale Sets Milestone for Libor Rival

[I]  There’s No Productivity Miracle Hiding in the Data

[I]  Layoff Gauge Climbs After Hitting Multidecade Low

 

BUSINESS LINE

[I]  New data protection law to impact 50 existing Acts

[I]  RBI backs plan to have an ARC take over stressed power assets

[I]  Transport strike called off after govt assurances

[I]  Commerce Ministry to replace export subsidy schemes banned at WTO

[I]  Trade deficit: India wants concrete steps from China over mere delegation visits

[I]  US firms seek opportunities for private partnerships in India’s defence market

[I]  Truant monsoon hurts rice sowing; acreage down 12%

[I]  Fresh ‘low’ may compound heavy rain scenario over North

 

ECONOMIC TIMES

[I]  Forex reserve rises by $67.7 million to $405.14 billion

[I]  Dollar stands tall, euro on defensive after ECB offers few surprises

[I]  Cash crunch, RBI rate hike risks send India funds to shorter debt

[I]  Indian bonds set to outshine emerging market peers: Nomura AMC

[I]  Govt removes restrictions on urea import for industrial, non-agriculture grade

[I]  Exporters seek government intervention as Saudi Arabia halts basmati imports

[I]  Milk production up 6.6% at 176.35 million tonne in 2017-18

[I]  FDI in food processing sector up 24% at $ 905 million in FY'18

[I]  Gold imports rise 22% to USD 33.65 billion in 2017-18

[I]  India to hold top spot for economic growth but oil poses risk

[I]  Investment in digital infrastructure crucial for emerging economies: PM Modi

 

BUSINESS STANDARD

[I]  Stressed assets: Govt wants IBC relief for a dozen power projects

[I]  Valuation in fast-moving FMCG stocks highest in nearly three decades

[I]  Srikrishna Panel proposals: Privacy breaches to attract monetary penalties

[I]  Kharif sowing improves further as rains revive, reservoir levels rise

[I]  India's faltering tourism industry

[I]  Better-rated companies borrow heavily from India's bond market

[I]  Global financial planning body decides not to renew pact with FPSB India

Best Regards, ARBIND

28 Jul 2018

PLEASE ACCEPT MY REGARDS FOR TEACHING ME A WONDERFUL LESSON EVERY DAY.

Macro Economic News 27 Jul 2018

 

President Trump’s truce with the European Union signals a tactical shift in his “America First” trade policy. China and the U.S. clash at the WTO, the ECB stays the course. Foreign purchases of U.S. homes fell a record 21%, posing a fresh challenge to the slumping housing market, which has shown few signs of turning around. Several forecasters tempered their high expectations for U.S. economic growth in the second quarter—a day before the gross domestic product report is released—due to some underwhelming economic data. The European Central Bank confirmed plans to gradually phase out easy money but said it would probably keep rates steady through next summer, underscoring a growing policy divergence with the Federal Reserve.

 

FINANCIAL TIMES

[I]  Lasting peace is still distant in US trade war with EU

[I]  France benefits from Chinese demand for luxury brands

[I]  Russia seeks western support for postwar Syria

[I]  Iran warns US that it has forces ‘in places you cannot think’

[I]  Australian politicians face by-election test on ‘Super Saturday’

[I]  Trump threatens ‘large sanctions’ on Turkey over detained pastor

[I]  ECB keeps interest rate and QE policy on hold

[I]  China should really start to worry about Trump

[I]  Cost impact of tariffs laid bare in corporate earnings

 

REUTERS

[I]  China's June industrial profit growth eases as production slows

[I]  Mexico, U.S. agree to speed NAFTA talks toward August deal

[I]  U.S. Senate quietly votes to cut tariffs on hundreds of Chinese goods

[I]  Money managers see past Trump talk, expect trade war to blow over

[I]  Dollar stands tall, euro on defensive after ECB offers few surprises

[I]  U.S. opens way for India to escape sanctions over Russia arms imports

 

BLOOMBERG 

[I]  Trade War History Suggests Relief Ahead for Emerging Markets

[I]  The Messed-Up Math of Hong Kong's Roaring Office Property Market

[I]  Draghi Heads for Summer Break With Sun Shining on Euro Economy

[I]  World's Best-Performing Currency Gets Boost From Trade Optimism

[I]  China's Bond Traders Embrace Leverage Again on Policy Shift

[I]  Trade War History Suggests Relief Ahead for Emerging Markets

 

WALL STREET JOURNAL

[I]  Record Drop in Foreigners Buying U.S. Homes

[I]  Homeownership in U.S. Keeps Climbing

[I]  Trump’s Pact With Europe Points to Tactical Shift on Trade

[I]  Trump Wants Europe to Buy U.S. Gas—but Russia Is in His Way

[I]  U.S., Europeans Agree to Iron Out Trade Differences

[I]  ECB Leaves Rates on Hold as It Affirms Bond Taper Plan

[I]  Germany Vetoes Chinese Purchase of Leifeld Metal Spinning

[I]  Layoff Gauge Climbs After Hitting Multidecade Low

[I]  China Targets Economy, Not Trump, With Weaker Yuan

 

BUSINESS LINE

[I]  Supermarkets flooded with foreign GM foods despite ban: CSE study

[I]  White goods set to become cheaper

[I]  Draft GST return forms ‘will be released for public comments by Monday’

[I]  Govt panel comes down hard on pharma firms over fixed-dose combination drugs

[I]  Import duty may go up

[I]  Last date to file I-T returns extended to August 31

 

ECONOMIC TIMES

[I]  Non-PCA government banks top loan book

[I]  DGFT exempts pepper exporters from MIP as growers meet Central ministers

[I]  Parliamentary panel expresses concern over Chinese imports

[I]  About 2 lakh jobs lost due dumping of Chinese solar panel: Parliament Panel

[I]  US wants to reduce trade deficit with India soon: Official

[I]  Projects for 6,320 km roads awarded under Bharatmala

[I]  Hedge fund titans who bet big on India now say they were scammed

[I]  Government proposes buy-back policy for highways

[I]  Chinese funding into fintechs raised in Rajya Sabha

[I]  RBI doesn't need more powers: Government

 

BUSINESS STANDARD

[I]  Driven by late-stage deals, funding activity picks up for start-ups

[I]  RBI monetary policy: A hike in Aug but a long pause thereafter, says expert

[I]  RBI's Public Credit Registry gives jitters to credit bureaus

[I]  India betting on GST and IBC to improve ease of doing business rank

[I]  Value of new project announcements down 33.4% in June quarter: CMIE

[I]  GST rate cut impact: Govt mulls import duty hike on consumer durables

[I]  CBDT told to clarify on STT on physically-settled derivative contracts

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11254;  USDINR DGCX: 68.7525;  DJIA Mini: 25537;  FTSE 100 Fut: 7620;  NIKKEI 225 Fut: 22636;  EUR-USD: 1.1651; Crude Oil (WTI): 69.56;  Gold (Spot): 1224

Best Regards, ARBIND

27 Jul 2018

WISHING A DAY WITH COURAGE AND SELF BELEIF. GOOD MORNING.

Macro Economic News 26 Jul 2018

Investors breathe a sigh of relief as the U.S. and Europe step back from the brink of a trade war, while Chinese President Xi calls on developing nations to renounce protectionism. President Trump declared a “new phase” in the relationship between the U.S. and the European Union, agreeing to hold off on proposed car tariffs and work with the EU to resolve their dispute over metals duties. India will remain the fastest-growing major economy this year supported by increased government spending ahead of next year's general election, but rising oil prices pose the biggest downside risk, a Reuters poll of economists showed. Purchases of new homes slipped 5.3% from May to the slowest pace in eight months, the latest sign that the housing market is cooling.

 

FINANCIAL TIMES

[I]  Zimbabweans hope historic election will trigger economic revival

[I]  EU court rebukes Poland in landmark extradition ruling

[I]  EU struggles to counter US sanctions on Iran

[I]  US airlines cave in to pressure from China over Taiwan

[I]  Saudis suspend Red Sea oil shipments after tanker attacks

[I]  Executive pay rows show that governance matters

[I]  Europe should offer Theresa May’s Brexit plan a helping hand

 

REUTERS

[I]  India to hold top spot for economic growth: poll

[I]  Venezuela to remove five zeroes from ailing currency

[I]  Trump eases car tariff threat as U.S., EU launch talks to quell trade tensions

[I]  German industry warns U.S. auto tariffs not completely off table yet

[I]  South Korea's second-quarter growth slows as capital investment slips, consumption slows

[I]  Global economy has peaked; trade war torpedoes optimism

[I]  ECB to stay on hold but highlight growth risks

 

BLOOMBERG 

[I]  Trump's EU Truce, China Eases Bank Rule, BOJ Bond Anger: Eco Day

[I]  South Korea Economy Maintains Growth Momentum as Exports Hold Up

[I]  U.K. Heat-Related Deaths Set to Triple by 2050, Lawmakers Warn

[I]  PBOC Is Said to Ease Bank Capital Rule to Boost Loan Growth

[I]  Surging Hong Kong Stock Buybacks May Signal Rebound on Horizon

[I]  Trump, Juncker Tout Deal Pulling Back From U.S.-EU Trade War

[I]  Indebted Britons Are Unprepared for Retirement, Lawmakers Warn

[I]  Metals Markets See Zero-Tariff Future on Trump-Juncker Meeting

 

WALL STREET JOURNAL

[I]  U.S., Europeans Agree to Iron Out Trade Differences

[I]  Japan, Germany Team Up on Trade

[I]  Mexico and Canada Are Committed to a Trilateral Nafta Deal

[I]  U.S. New-Home Sales Dropped in June

[I]  There’s No Productivity Miracle Hiding in the Data

[I]  China Targets Economy, Not Trump, With Weaker Yuan

[I]  Chinese Deals Lose Luster for Officials Across the U.S.

[I]  Big Auto Makers Trim Forecasts

[I]  House GOP Unveils Tax Plan Focused on Savings, Retirement

 

BUSINESS LINE

[I]  NCLAT upholds Rs. 6,700-crore penalty on 11 cement firms

[I]  3/5-year term may be made mandatory for motor insurance

[I]  SEBI raps mutual fund trustees over irregularities

[I]  Report on data protection framework likely next month

[I]  Centre to look at more export markets to tackle dairy glut

[I]  Many Indian lenders miss the mark when it comes to online banking: Forrester

 

ECONOMIC TIMES

[I]  Rupee fall could soon make TV, car prices shoot up

[I]  AMC in the works to help PSU banks offload non-core assets

[I]  BRICS emerging economies meet as US trade war looms

[I]  India's cotton exports to increase by 20% in 2017-18; Cotton Advisory Board

[I]  Exports likely to touch $350 billion in FY19, says Suresh Prabhu

[I]  59 mega infra projects report cost overrun of Rs 1.36 lakh crore

[I]  View: Infrastructure ecosystem crucial to maximising economic value

[I]  Tax havens account for highest increase in FDI inflows

[I]  GST slab of 28% may become virtual "hollow shell" in year or so, says CEA

[I]  Nearly 90% of corporate law violations may not go to court

 

BUSINESS STANDARD

[I]  Over 340 'irrational' drugs to go off shelves soon; many more under scanner

[I]  Petroleum definition changed for uniformity in operations: Government

[I]  Local PEs face challenges in raising funds to invest in office properties

[I]  Corporate credit demand gains pace, showing signs of gathering steam

[I]  Macro economy gives confusing signals to MPC on policy rate front

[I]  ED gets power to impound fleeing economic offenders' property

[I]  Anti-dumping duty hike on Indian shrimps by US to have neutral impact

[I]  Centre not to hike insurance cover of Rs 100,000 for bank deposits

[I]  India's digital lending market represents a $1 trillion opportunity

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11175;  USDINR DGCX: 68.6250;  DJIA Mini: 25414;  FTSE 100 Fut: 7610;  NIKKEI 225 Fut: 22593;  EUR-USD: 1.1735; Crude Oil (WTI): 69.47;  Gold (Spot): 1233

Best Regards, ARBIND

26 Jul 2018