Macro Economic News 06 Dec 2014

 

FINANCIAL TIMES (INTERNATIONAL EDITION)

[I]  Vanguard calls for boardrooms shake-up 

[I]  ECB division on wording fails to impress 

[I]  Wages stand still in rich economies 

[I]  High hopes for strong US jobs growth 

[I]  Nasa’s Mars hope stays grounded for now 

[I]  US defence nominee faces budget battle 

[I]  Renzi pivots to Africa for gas 

[I]  Greek hopes on bailout exit dwindle

 

BLOOMBERG (Online)

[I]  Brazil Plans Economy-Wide Pollution Curb for Climate Deal

[I]  Oil Poised to Extend Drop After Hitting Five-Year Low

[I]  U.S. Oil Rigs Rise as Shale Drillers Face OPEC Challenge

[I]  Hiring Surge Gives U.S. Expansion a Lift Into 2015

[I]  Russia Contagion Spreads to Former Soviet States Amid Rout

 

BUSINESS LINE

[I]  DGCA cracks whip on SpiceJet

[I]  First success: SAIL share sale oversubscribed 2 times

[I]  DoT panel wants 15-20% higher reserve price for spectrum auction

[I]  SBI cuts deposit rate by 25 bps

[I]  White label ATMs can accept international cards, says RBI

[I]  GAIL to source gas from US firm for its Maryland LNG terminal

[I]  States may get power to tinker with ‘State GST’ rates

[I]  No plan to impose tax on agricultural income: Jaitley

[I]  Lower rabi sowing hints trouble on farm front

 

ECONOMIC TIMES

[I]  No disruption: Vodafone, Airtel get 45 days to vacate spectrum

[I]  Not a good time to do biz with Russia: US to India

[I]  Lesser paddy purchase in Punjab, Haryana as basmati acreage rises

[I]  Nomura upbeat on India, sees FY15 GDP growth at 5.5 per cent

[I]  India forex reserves up $ 1.432 billion to $ 316.311 billion

 

BUSINESS STANDARD

[I]  Apr-Oct subsidies at 71% of full-year target, against 78% last year

[I]  Govt to set up expert panel for Air India revival plan

[I]  Favouring growth, Modi govt sweeps away green rules

[I]  Iron ore imports hit record 6.8 mn tonnes as prices fall

[I]  French-Indian Rafale deal to wrap up in 'months': French minister

 

Best Regard, ARBIND

Macro Economic News 05 Dec 2014

 

FINANCIAL TIMES (INTERNATIONAL EDITION)

[I]  US oil reserves at highest since 1975 

[I]  GSK drops plan to sell older drugs 

[I]  Extreme oil bears gamble on $40 crude 

[I]  Serbia caught between Russia and west 

[I]  Sweden calls election as government falls 

[I]  Orion carries hopes of human space flight 

[I]  Indian companies face shareholder activism

 

BLOOMBERG (Online)

[I]  WEF Offers Impact Investing Road Map for Wealthy Families: Don’t just buy on the buzz, do your homework.

[I]  Venezuela’s Oil Industry Exodus Slowing Crude Production: Energy

[I]  Blame Italian Olive Bugs for Year’s Dearth of Virgin Oil .

[I]  Like Chinese Stocks? In Hong Kong, They’re 12% Cheaper

[I]  Japan Pension Fund Head Calls for $389 Billion Stock Revamp (Loosening rules that restrict managers to domestic or international equities.)

[I]  Japanese Shares Fall From Seven-Year High After Draghi Comments

[I]  Dollar Gaining 7th Week Before Jobs; Yen Drop Spurs Bankruptcies

[I]  Protests Spread to U.S. Cities as Thousands Take to NYC Streets

[I]  Canada-U.S. LNG Rivalry Draws Focus After Petronas Delay

[I]  ECB Cools Off for Seven Weeks as Draghi Builds Support for QE

 

BUSINESS LINE

[I]  Fuel excise hike: Opposition puts Govt on the mat

[I]  EU bans imports from Ranbaxy unit

[I]  SpiceJet faces headwinds from travel agents

[I]  Coal Ministry to facilitate green nod for 18 blocks after March

[I]  Consumer sentiment at lowest ebb since Oct 2013: survey

[I]  ‘Advance ruling’ facility extended to domestic tax-payers, too

[I]  Private entity cannot hold more than 26% in coal venture

[I]  Sadhvi is sorry, so let’s forgive her: PM

[I]  SAIL divestment issue opens today; floor price set at Rs. 83/share

 

ECONOMIC TIMES

[I]  Top Large & mid-cap stocks that rise when oil prices fall

[I]  BJP gains in polls after every riot, says Yale study

[I]  Wipro's Premji gets Swiss Ambassador's Award for inspirational & socially responsible leadership

[I]  No scientific evidence to prove GM crops harmful: Government

[I]  Cut in gold import duty unlikely before Budget: Finance ministry official

[I]  Rating upgrade, 7% growth rate not far off for India: Citigroup

[I]  Macquaire highlights the five-Is that will drive India's growth higher

[I]  India can surprise in 2015 on factors of production focus: Citigroup

[I]  India to be fastest growing economy in 2-3 years: Mukesh Ambani

 

BUSINESS STANDARD

[I]  GSK drops plan to sell off older drugs business

[I]  'Realty mkt sees $4.5 bn investment during Jan-Sept'

[I]  295 infra projects delayed; cost overrun Rs 100,000 cr

[I]  Govt planning regulator for direct-selling sector

[I]  Govt considering proxy voting, e-postal ballot facilities for NRIs

[I]  MCX seeks buyers for its stake in MCX-SX

[I]  BHEL commissions sixth unit of 412 MW Rampur hydro plant

[I]  Govt forms panel to check trade-based money laundering

[I]  UP power sector to get Rs 110K-cr investment by 2016-17

[I]  ONGC Videsh might soon buy stake in 2 Siberian oilfields

[I]  DuPont gets favourable order from IPAB in trade mark dispute on Nomex

 

MINT

[I]  India struggles to protect industry, services in RCEP talks

[I]  SBI to conduct ‘early review’ of loans sanctioned to SMEs

[I]  JSW Steel to invest up to ₹8,000 cr annually on capacity addition

[I]  RBI releases operative guidelines for mobile banking services

[I]  M3M buys Sahara’s Gurgaon land for Rs1,211 crore

[I]  Inksedge raises $1.5mn from Pinnacle Ventures and others

[I]  India to press G-20 for deadline to cut remittance costs

[I]  Ryerson Futures and Chokhani Group to launch $15 million fund in India

 

FINANCIAL EXPRESS

[I]  Tanks from Tata Motors, torpedoes from Pipavav

[I]  LIC may have to play white knight again

[I]  Andhra Pradesh govt to waive farm loans up to Rs 1.5 lakh

[I]  Panel suggests creation of postal bank with independent role

[I]  Internet space has 5-7 more years of exponential growth: Niren Shah, Norwest Venture Partners

 

FINANCIAL CHRONICLE

[I]  Patel Engineering sells Mumbai land for Rs 300 crore

[I]  CBI defends court summon of Sunil Bharti Mittal, Ravi Ruia

[I]  HDFC Bank, ICICI Bank cut retail fixed deposit rates

[I]  India's domestic air traffic grew by over 16 pct in Oct: IATA

[I]  Sensex edges lower, Nifty inches up in lacklustre trade

[I]  Panel to monitor $ 42b US investment in India

[I]  Gold steadies near $1,200 as oil firms; sentiment remains bearish

[I]  Exit norms for foreign investors in construction

 

Best Regard, ARBIND

Macro Economic News 04 Dec 2014

 

FINANCIAL TIMES (INTERNATIONAL EDITION)

[I]  UK ‘Google tax’ targets multinationals 

[I]  Flow of Opec petrodollars set to dry up 

[I]  Cheaper oil’s effect on asset prices 

[I]  Iranian jets attack Isis in eastern Iraq 

[I]  Sweden calls election as government falls 

[I]  This year set to be warmest on record 

[I]  Oil price slide a mixed blessing for China 

[I]  China slips in corruption index 

 

BLOOMBERG (Online)

[I]  Oil Price Plunge Lends Unexpected Hand to Southern Europe .

[I]  Brazil Doubles Pace of Rate Increase, Signals Smaller Move Ahead

[I]  U.S. Plans Civil-Rights Probe of NYC Police Chokehold Death

[I]  Simon Fuller to Brand It Like Beckham in H.K. Venture

[I]  WTI Extends Gain as U.S. Stockpiles Drop Amid Steady OPEC Output

[I]  Alibaba Eclipsing Hyundai Threatens Korea Dollar Bonds

[I]  Puerto Rico’s $2.9 Billion Borrowing Measure Moves to Committee

 

BUSINESS LINE

[I]  Centre to kick off disinvestment by selling 5% in SAIL tomorrow

[I]  Services sector PMI hits 5-month high in Nov: HSBC

[I]  ICICI Bank, HDFC Bank cut deposit rates

[I]  BPCL to invest Rs. 4,588 crore in petrochem project

[I]  NMDC to scale up iron ore output

[I]  India Inc may get a breather on related party deals

[I]  Centre to open up legal sector in phases

[I]  Bill replacing coal block ordinance to have ‘small changes’

[I]  PSU refiners want specialised trading desks for crude oil

[I]  DRI, RBI to jointly tackle issue of fake ‘bills of entry’

[I]  Sri Lanka is the new route for gold smuggling

[I]  ‘Future Group is ready to enter payment banking’

[I]  G-Sec yield below RBI’s benchmark repo rate

[I]  DHFL Pramerica eyes stake in small banks, NBFCs

[I]  Axis Bank set to ride the mobile banking wave

[I]  IRDA orders audit of Future Generali Life Insurance

[I]  RBI to raise cap on foreign investments in sovereign bonds

 

ECONOMIC TIMES

[I]  Over half of top 500 companies in debt trouble; need Rs 7 trillion to pare it

[I]  Addressing disability: India Inc takes baby steps in absorbing differently-abled employees

[I]  82 sugar mills start cane crushing in Uttar Pradesh

[I]  India's 2014/15 rapeseed oil output to fall, edible oil imports seen up

[I]  Hindustan Zinc valuation process begins, stake sale likely by March end

[I]  Adani Group, State Bank of India defend $1 billion funding plan

[I]  Exim Bank extends $1 bn of LoC to Nepal

[I]  'Reasonably comfortable' with current account deficit: Reserve Bank

[I]  Government stares at 65,000 crore shortfall in indirect tax collection

 

BUSINESS STANDARD

[I]  Fed's survey finds improvement across US economy

[I]  RBI issues norms for trading platform for MSME receivables

[I]  DLF plans to sell 50% in Cyber City to raise over Rs 3500 crore

[I]  Germany bars antibiotic drug from Ranbaxy's plant

[I]  Central Bank to raise Rs 626.23 cr from pref issue to LIC

[I]  India welcomes Saudi investment in infrastructure sectors

[I]  Govt relaxes FDI policy for real estate sector

[I]  Fert Min for continuation of subsidy to closed urea plants

[I]  State govt should act within 60 days for mining licence renewal

[I]  BSE seeks clarification from FTIL on MCX-SX stake to 13 entities

[I]  Debt-ridden SpiceJet may see beginning of a turnaround

[I]  BPCL to diversify into petrochemicals

 

MINT

[I]  Clearing body of NSE sets aside Rs 624 cr to meet default risk obligation

[I]  SEC charges India-origin person for share sale fraud

[I]  Sadbhav Infra Projects plans to raise Rs 600 cr via IPO

[I]  ICICI Bank hikes stake in Gokaldas Exports to over 10%

[I]  Nestle India declares third interim dividend

[I]  Monte Carlo IPO subscribed 0.61 times on first day of issue

[I]  Ban on sale of loose cigarettes likely to be put on hold

[I]  Indian firms require Rs7 trillion equity infusion to deleverage: India Ratings

[I]  Govt may revise ONGC’s subsidy-sharing structure

[I]  Private sector business activity at 5-month high, but expectations fall sharply

[I]  Hike in excise duty aimed to meet budget deficit, says oil minister

 

FINANCIAL EXPRESS

[I]  Mega auction in February with DoT-defence pact

[I]  Germany bans Ranbaxy drug

[I]  Arun Jaitley sets up 3-member panel to bring in further clarity in tax laws

[I]  Maruti targets niche segment with 3-row, diesel WagonR

 

FINANCIAL CHRONICLE

[I]  India services PMI jumps to 5 month-high in Nov: HSBC

[I]  Meda Pharmaceuticals Inc and Cipla Ltd sue Apotex to enforce Dymista patents

[I]  Religare Global Asset Management buys 26 pct stake in YourNest

[I]  Indian rupee rallies further 14 paise Vs dlr to end at 61.88

[I]  DIPP prescribes a dose of caution on compulsory licences

[I]  RBI doubles pre-paid card limit to Rs 1 lakh

[I]  Gold steadies near $1,200 as oil firms; sentiment remains bearish

[I]  67 firms choose to split their stocks this year

[I]  Suven Life Sciences raises Rs 200 crore through QIP

 

Best Regard, ARBIND