Macro Economic News 13 Aug 2016

 

FINANCIAL TIMES

[I]  Weak pound triggers mini tourism boom

[I]  India lifts ban on luxury diesel vehicles

[I]  Israel to pay $1bn in oil pipeline ruling

[I]  Critics lambast Renzi’s economic plans

[I]  IMF warns of credit boom risks in China

[I]  Call to end Australia’s ‘free trade mentality’

[I]  China elevated bus sparks investment fear

[I]  World Bank China bonds to boost renminbi

[I]  Time looks ripe for ultra-long US bonds

[I]  New money raised by equity ETFs drops 85%

 

BLOOMBERG 

[I]  Stimulus Pushes Europe’s Peripheral Bonds to Fourth Weekly Gain

[I]  IMF Notes China Authorities See Interest-Rate Level Appropriate

[I]  China’s Stability Falters as Factory Output, Credit Growth Slow

[I]  Russia Warns of Consequences From Deaths as Ukraine on Alert

[I]  China Cities Tighten Home-Buying Rules in Further Cooling Sign

[I]  Venezuela Raises Wages 50% as Oil Tour Seeks to Lift Prices

[I]  High-Risk ‘Shadow’ Credit in China Put at $2.9 Trillion by IMF

[I]  Fed Officials Challenge Decades of Accepted Wisdom on Inflation

[I]  Surprise Record-High U.S. Crop Estimates Spur Price Gyrations

[I]  The Canadian Housing Boom Fueled by China’s Billionaires

[I]  Hong Kong Economy Dodges Recession, Expanding Most Since 2011

[I]  Singapore Builders Facing Maturity Wall as Home Prices Drop

 

BUSINESS LINE

[I]  Double-whammy: inflation is rising, factory output is falling

[I]  Apex court lifts ban on registration of large diesel cars in Delhi-NCR

[I]  It rained Bills this Monsoon Session of Parliament; 14 cleared

[I]  Trade gloom: exports fall in July on weak global demand

[I]  1% green cess on diesel cars not enough, say environmentalists

[I]  Non-availability of land key reason for abandonment of road projects

[I]  FinMin rapped for ‘inflated assumptions’ in Budget docs

[I]  Monsoon may stay subdued in the South until month-end

[I]  Higher pulses acreage, good monsoon drive up kharif sowing

[I]  Rate-cut transmission will happen over a period of time: SBI chief

 

ECONOMIC TIMES

[I]  Steps being taken to prevent forex violations, says government

[I]  Oil rebounds as Saudi hints at OPEC deal for September

[I]  Forex reserves at record high of $ 365.74 billion

[I]  Brick-and-mortar business houses hiring more differently-abled people

[I]  Japan will invest $25bn in India, says Suresh Prabhu

[I]  Gold imports drop 76 per cent in April-July this year

[I]  Industrial production expands 2.1 per cent in June

 [I]  Meeting fiscal deficit target of 3.5% will be a challenge: Government

[I]  India Inc's foreign investments zoom 61 per cent to $2.3 billion in July

[I]  India's merchandise exports down 6.84% y-o-y in July

[I]  Government to undertake Rs 2 lakh crore road projects in UP: Nitin Gadakri

 

BUSINESS STANDARD

[I]  Merchandise exports fall 6.8% in July

[I]  June industrial growth at 8-month high

[I]  July retail inflation highest in 19 months

[I]  Government, oil firms inflated PAHAL subsidy savings: CAG

[I]  Bank staff investments via PMS amount to insider trading: Sebi

[I]  China's economic activity slows in July as reforms begin to bite

 

Best Regards, ARBIND

Macro Economic News 12 Aug 2016

 

FINANCIAL TIMES

[I]  New money raised by equity ETFs drops 85%

[I]  Egypt wins $12bn IMF loan to boost economy

[I]  Russia ratchets up Crimea rhetoric against Ukraine

[I]  Renzi eyes fresh stimulus package for Italy

[I]  Germany signals tougher stance on refugees

[I]  Chinese laws prompt business backlash

[I]  Australia halts grid sale to Chinese

[I]  Clinton pledges tougher line on trade

[I]  German bank charges negative rates

[I]  Saudis hint at effort to balance crude

[I]  Investors stockpile cash to offset economic despair

 

BLOOMBERG 

[I]  Was Japan's Economy 29 Trillion Yen Bigger Than Thought in 2014?

[I]  RBNZ Signals It’s Likely to Wait to November for Next Rate Cut

[I]  Immigration Sparks Negative Views From U.S. to Russia in Study

[I]  Chile and Peru Keep Rates Unchanged as CPI Slows on Weak Demand

[I]  Japan Equity Returns Sink to Levels at Start of Abenomics

[I]  China’s Diverging Confidence Measures Cloud Retail Sales

[I]  Steel Protectionism Going Global as Few Can Survive Low Prices

[I]  To See Where World’s Easy Money Is Going, Look at Russia’s Ruble

[I]  China Makes Coal Energy Winner on Cuts as Steel Boosts Coking

[I]  China’s $15 Billion Energy Ambitions Crushed Within Two Weeks

[I]  India's Cash-for-Gold Shadow Lenders May Be Headed for Shakeout

[I]  Negative Rates for the People Arrive as German Bank Gives In

[I]  A Free-Floating Yuan Is Likely to Be a Decade Away

[I]  'Helicopter Money' Might Weaken Currencies

 

BUSINESS LINE

[I]  After dull 2016 first half, WGC sees gold shining in second

[I]  Parliamentary panel calls for variable rail fare structure

[I]  India, US fated to be strategic partners: think tank

[I]  Assocham-Crisil study pitches for raising EPF’s equity exposure

[I]  Rainfall deficit shrinks to 44% in Gujarat

[I]  Customer not liable if fraud is due to bank’s fault: RBI

 

ECONOMIC TIMES

[I]  India Inc sees recovery in earnings in Q1 FY’17: Care Ratings

[I]  Red chilli production to grow massively in India next year

[I]  Gold purchase reduces in India this year

[I]  Promoters finding family trusts a safe haven to park personal assets

[I]  RBI will transfer Rs 65,876 crore surplus as dividend to government

[I]  Blue revolution plans to raise fish production by 50 per cent

[I]  India's buffalo exports to touch Rs 40,000 crore in next 5 years

[I]  Amendment to Companies Act will help boost fund flow for MSMEs: Arun Jaitley

[I]  Niti Aayog identifies SAIL units for strategic sale: Government

[I]  ​ Institute of Company Secretaries to conduct 100 seminars on GST

 

BUSINESS STANDARD

[I]  Irdai plans to make insurers' listing a must

[I]  Benefits to hill, N-E states to continue under GST

[I]  Power generation up 7.13% in Apr-Jun at 391 billion units

[I]  India moves up in MasterCard consumer confidence index

[I]  Trade link with India is important for Britain: Greg Clark

[I]  RS okays Bill for raising maternity leave period to 26 weeks

[I]  Vision 2020: India to grow at 7.7%, China at 6.4%

[I]  Banks should identify key areas for certification of staff: RBI committee

[I]  RBI mulls liability cover in fraud for bank clients

[I]  India's gold demand falls 18% in Apr-June

[I]  Monsoon 15% above normal in past week

 

 

Best Regards, ARBIND

Macro Economic News 11 Aug 2016

 

FINANCIAL TIMES

[I]  Britain’s QE sends bond yields tumbling

[I]  Trump falls in polls despite reboot pitch

[I]  Ties with Turkey intact, says Nato

[I]  Sea dispute stokes China-Vietnam tensions

[I]  Spain nears deal to end political deadlock

[I]  China protests force nuclear waste rethink

[I]  Turkey scrambles to defend credit rating

[I]  Poland scarred despite forex loan rethink

[I]  US and European junk bond yields hit lows

[I]  Platinum metals join the precious rally

[I]  Fears for pensions as gilt yields turn negative

[I]  China’s capital controls fail to curb outbound investment

 

BLOOMBERG 

[I]  New Zealand Cuts Rates to Record Low

[I]  China Data Blast Offers New Clues on Economy's Direction

[I]  Singapore Cuts Top End of 2016 GDP Forecast on Weak Outlook

[I]  BOK Holds Key Rate at Record Low as It Assesses Economy

[I]  China’s Central Bank Plans Push to Increase Yuan’s Global Usage

[I]  No Need to Be So Negative on Sub-Zero Rates, Mr Carney

[I]  Brexit Hits U.K. Housing as Property Sales Drop Most Since 2008

[I]  Bond Market’s Big Illusion Revealed as U.S. Yields Turn Negative

[I]  Saudi Arabia Reports Record Oil Output on Summer Demand

[I]  Saudi-Iran Oil Rivalry Heats Up as OPEC Seeks to Stabilize Price

[I]  Indonesia Turns to Islamic Savings Bonds to Plug Revenue Shortfall

[I]  Mongolia Calls for Economic ‘Crisis’ Plan; Bonds Tumble

[I]  China’s Overseas M&A Spree Comes at Lowest Costs Since 2012

 

BUSINESS LINE

[I]  Centre clears tax hurdles to recast of public sector units

[I]  By 2022, biofuel ‘will become a Rs. 50,000-crore business’

[I]  Cabinet approves amendment to Lokpal and Lokayukta Bill

[I]  FinMin issues new norms for expenditure efficiency

[I]  GST: Centre may give more space to States on tax modalities

[I]  TRAI to come out with final paper on free data by month-end

[I]  North-West, Eastern India drenched; Met forecasts more rains

 

ECONOMIC TIMES

[I]  LS approves labour law to increase factory overtime

[I]  SEBI allows MFs to buy housing finance bonds

[I]  Cotton production to hit seven-year low due to lack of cultivation area and pest attacks

[I]  Government bonds firm up on steady demand

[I]  RBI soaking foreign inflows to curb impact on rupee: Raghuram Rajan

[I]  India writes to Singapore, Japan and South Korea to recast investment deals

[I]  Indian inflation seen picking up in July on higher food prices

[I]  Government plans to utilise landbanks of public sector enterprises

[I]  Delhi readies policy to fix tariff ceiling for Uber, Ola

[I]  Government reveals new system for appraisal and approval of schemes

 

BUSINESS STANDARD

[I]  FRBM panel for combining Centre, states' deficit targets

[I]  The war against pirates has just begun: Girish Kumar

[I]  Automobile sales grow 13% in July

[I]  Trai view on free data by month-end

[I]  Nod to 100% FDI in commodity broking, other financial services

[I]  LS passes Bill to double overtime hours for workers

[I]  Bigger NBFCs must be inspected regularly: Rajan

[I]  MF participation in voting to be scrutinised: Sebi

 

Best Regards, ARBIND

Macro Economic News 10 Aug 2016

 

 

FINANCIAL TIMES

[I]  Putin and Erdogan vow to restore links

[I]  Bank of England bond-buying hits trouble

[I]  Olympics give Rio a chance to rebrand

[I]  Rajan urges persistence in bank clean-up

[I]  US foreclosures fall to record lows

[I]  China producer deflation lowest in two years

[I]  US lenders fall behind in dealmaking drive

[I]  China debt vultures hunt for bargains

[I]  Renminbi shock a distant memory for markets

[I]  UK and eurozone yields hit record lows

[I]  Corporate loans track Libor rise

 

BLOOMBERG 

[I]  Japan’s Plunging Jobless Rate Is About Aging, Not Abenomics

[I]  Iron Ore Giants Reject Proposed A$7.2 Billion Mining Tax Hike

[I]  China Power Giant’s Grid Bid Tests Australia Investment Nerve

[I]  Billionaire’s Fund Predicts Prolonged Slump in India Home Sales

[I]  Shock Therapy Needed for Kiwi If RBNZ Wants Inflation to Fly

[I]  China's Banks Help Finance $157B M&A Spree

[I]  The World’s Energy Engine Is Slowing

[I]  China Data Paints Picture of Stabilization

[I]  Top Chinese Fund Buys Automaker Shares in Bet Economy Recovering

 

BUSINESS LINE

[I]  More protection for steel industry with dumping levy on products from 6 nations

[I]  Tax collections buoyant, surge 20% in April-July

[I]  India’s reinvention is a work in progress

[I]  Swelling tax kitty reflects upturn in economic activity

[I]  MFs’ asset base crosses Rs. 15-lakh cr

[I]  Use FDI in e-commerce infra upgrade, not discounts: DIPP

[I]  ‘FCNR deposit redemptions next month will go smoothly’

[I]  RBI is comfortable with bad loans clean-up by banks: Rajan

[I]  RBI’s decision to hold rates on expected lines: bankers, experts

 

ECONOMIC TIMES

[I]  Govt refuses to divulge land ordinance details

[I]  Copper demand falls in Chinese market

[I]  Will corporate bonds usher future corporate credit?

[I]  Top 100 borrowers owe PSBs Rs 13.71 lakh crore

[I]  RBI to inject Rs 10,000 crore for liquidity crunch on FCNR payout

[I]  Rs 78,000 crore worth goods stocked in Indian homes: OLX survey

[I]  Online marketplace for all government buys

[I]  Parting gift from Raghuram Rajan: Corp bond reforms on August 25

[I]  India ready to abolish tariff structure if RCEP promises FDI

[I]  Delay in rate hike by developed economies concerns Raghuram Rajan

[I]  Government plans to provide electricity to 18000 villages in 1000 days: Narendra Modi

[I]  GST to raise returns across economy: Raghuram Rajan

[I]  RBI flags risk of higher inflation

[I]  Raghuram Rajan leaves key rates unchanged at his last policy meet, warns of inflation risks

 

BUSINESS STANDARD

[I]  In his last policy, Rajan puts onus on banks

[I]  India on the cusp of 30-year cycle of good monsoons

[I]  Good monsoon has positive spin-off on govt finances

[I]  Distress in power market visible in low spot prices

[I]  RCEP effect: Hope springs eternal in India's readiness to cut tariff

[I]  Bill to reform motor vehicle law introduced

[I]  It is not wise to assume GST implementation will necessarily increase inflation: Raghuram Rajan

 

Best Regards, ARBIND