Macro Economic News 10 Dec 2016

 

FINANCIAL TIMES

[I]  ECB rejects Italy’s plea for Monte dei Paschi delay

[I]  Music labels go gaga for streaming services

[I]  Spain wakes up to risk posed by long-term joblessness

[I]  South Korean president faces impeachment

[I]  Dutch threaten to sink EU-Ukraine deal

[I]  Markets risk undervaluing the Trump effect

 

BLOOMBERG 

[I]  U.S. Yields Near 18-Month High as Traders Await Fed, Auctions

[I]  Economists See Impeachment as Way Forward for South Korea

[I]  OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles

[I]  Raging Stocks, Fed Fears Trigger ‘Dislocation’ in Global Markets

[I]  Xi Certain China to Achieve Major Economic Goals This Year

[I]  China's Capital-Control Crackdown 'Particularly Worrying' for Businesses

 

BUSINESS LINE

[I]  Was there a plan behind the note ban, apex court asks govt

[I]  Poor show: factory output contracts 1.9% in October

[I]  Direct, indirect tax collections up in April-Nov

[I]  SEBI eases share tendering process

[I]  Pepper production expected to decline on poor monsoon rain

[I]  Rabi sowing higher than last year, lower than 5-yr average

 

ECONOMIC TIMES

[I]  World food prices fall 0.4% in November

[I]  Rabi crop planting up 14 per cent in one week

[I]  Rabi sowing: Wheat, pulses acreage up despite notes ban

[I]  Health cost of air pollution in India assessed at 3 per cent of its GDP

[I]  India's foreign exchange reserves go down by $1.4 billion

[I]  Industrial production shrinks 1.9% in October

[I]  Inactive companies declined by 4,000 in over 3 years: Government

[I]  India expresses reservations on World Bank's 'Doing Business' report

[I]  Niti Aayog plans easy mobile feature for e-payments

 

BUSINESS STANDARD

[I]  Tax collections avert cash crunch blues

[I]  Mobile wallet use at petrol pumps surges amid safety concerns

[I]  Govt decides to print plastic currency notes

[I]  Bank loans shrink by Rs 61,000 crore in fortnight after demonetisation

[I]  Banking ombudsman sees an uptick in complaints by 21% in FY16, says RBI

 

Best Regards, ARBIND

Macro Economic News 09 Dec 2016

 

FINANCIAL TIMES

[I]  ECB prolongs QE but at reduced €60bn a month

[I]  Spain wakes up to risk posed by long-term joblessness

[I]  Draghi insists ECB trim is different from a taper

[I]  UK spy chief warns on ‘profound’ propaganda threat

[I]  Japan’s economy jumps 6.3% under new UN standard

[I]  China statistics chief admits false data problems

[I]  US rate rises set to expose China’s frailties

 

BLOOMBERG 

[I]  Confusion Reigns in Markets as ECB QE Changes Spark Wild Swings

[I]  China Will Have to 'Play by the Rules' Under New Ambassador: Trump

[I]  China Factory Prices Jump 3.3%, Lifting Global Inflation Outlook

[I]  ECB Expands Stimulus to $2.4 Trillion as Monthly Purchases Slow

[I]  Draghi Says $2.4 Trillion Stimulus May Not Be Enough for ECB

[I]  Russia Said to Seek Compliance Talks at Saturday’s OPEC Meeting

[I]  CIMB Says Ringgit Drop Overdone, May Return to Fundamental Value

[I]  China's Car Sales Have Been on a 26-Year Record Streak

 

BUSINESS LINE

[I]  A month into demonetisation, hope gives way to despair

[I]  Crop worry: Centre scraps import duty on wheat to ease supply, check prices

[I]  Govt steps up measures to boost digital transactions

[I]  Auto sales skid with notes ban in Nov

[I]  The glitter goes missing from the diamond industry

[I]  Cement demand halves in Nov on demonetisation

 

ECONOMIC TIMES

[I]  RBI pump in Rs 4 lakh crore, gets back Rs 11.5 lakh crore in its kitty

[I]  Demonetisation well-planned, not done in haste: Urjit Patel

[I]  Euro edges higher, holds near 3-week high as focus shifts to ECB

[I]  Demonetisation: Will bank queues recede in the new year? May be, may be not

[I]   China declines to react on Indo-Russian gas swap proposal

[I]  $48 billion textile exports target looks hard to achieve: Government

[I]  Pakistan lifts ban on Indian cotton imports

[I]  10 per cent import duty scrapped on wheat as domestic prices rise

[I]  Cash crash: Consumption shrinks big time on liquidity squeeze

 

BUSINESS STANDARD

[I]  Cash crunch puts brakes on auto sector growth

[I]  After a month of queues, govt lines up sops

[I]  Demonetisation impact: Luxury car brands lure buyers with up to 20% discount

[I]  Call drop way above benchmark; meet with telcos next week: TRAI

[I]  E-commerce firms eye central registration

[I]  Council may reduce tax slabs in future, says CBEC chief

[I]  Labour ministry in dark over optional EPF in textile made-ups sector

 

 

Best Regards, ARBIND

Macro Economic News 08 Dec 2016

 

FINANCIAL TIMES

[I]  China FX reserves drop $70bn as outflow accelerates

[I]  Turkish military purge has ‘degraded’ Nato, says general

[I]  UK and Germany face EU action on ‘dieselgate’

[I]  India defends banknote ban

[I]  Business wary of Twitter blasts from Trump

[I]  Trio of banks hit back at Euribor-rigging fine

[I]  House prices: lay of the land

[I]  Pause in dollar strength is merely a consolidation

 

BLOOMBERG 

[I]  Japan Slashes 3Q Growth Estimate as Business Spending Drops

[I]  U.S. Indexes Rise to Records as Bond Rout Eases Ahead of the ECB

[I]  China Set to Rescue Australia Economy at Just the Right Time

[I]  Saudis Are Trying to Figure Out How the Post-Oil Era Works

[I]  Flood of Cash Leaving China Inspires Little More than a Yawn

[I]  The 'Lucky Country' Gets an Economic Wake-Up Call

[I]  Keeping the Faith (Even After a 99% Wipeout) for Shareholders

[I]  BOJ Deputy Iwata Says No Shift Away From Asset Purchases

[I]  Top-Tier Hong Kong Developers Cut Loan Costs by as Much as 40%

[I]  Vietnam's Startup Scene Lures Back One-Time Refugees

[I]  China's Big Savers Are Racking Up More Debt

 

BUSINESS LINE

[I]  RBI cites inflation risk, holds rate; markets stunned

[I]  Discretionary products bear the brunt of demonetisation, witness steep fall in sales

[I]  Cabinet approves sops to boost ‘made-ups’ sector

[I]  PM crop insurance scheme has covered 26% of farmers

[I]  Going cashless has its own set of complexities: Nilekani

[I]  With rates on hold, borrowers will get relief only with a lag

 

ECONOMIC TIMES

[I]  Mutual Fund asset base hits new high of Rs 16.5 lakh crore in Nov

[I]  26.5% farmers sought coverage under PM's crop insurance scheme

[I]  Demonetisation: No special dividend for government, says Urjit Patel

[I]  Inflows into Jan Dhan A/Cs decline post govt warning: CBDT

[I]  Labour Ministry opens over 13.76 lakh bank a/cs since November 26: Government

[I]  Demonetisation effect: Money supply growth may decline by 3%

[I]  Almost 12 lakh crore old notes deposited so far: RBI

[I]  Engineering exporters would look up to RBI to restore normalcy: EEPC

[I]  Pulses import at 27.48 lakh tonnes in April-October

[I]  RBI lowers growth forecast to 7.1%

[I]  Cabinet Committee approves half yearly review of nutrient-based subsidy rates

 

BUSINESS STANDARD

[I]  RBI surprises with pause on rates

[I]  Govt to spend Rs 60,000 cr more on rural jobs

[I]  Centre mulls scrapping wheat import duty to boost supplies

[I]  Market outlook downgraded as note ban hits economy

[I]  IIT placements see 10% drop this year

 

 

Best Regards, ARBIND

Macro Economic News 07 Dec 2016

 

FINANCIAL TIMES

[I]  EU companies in China hit by new exchange controls

[I]  Venezuela struggles to tame triple-digit inflation

[I]  Brussels to fine three banks over Euribor rate rigging

[I]  MPS and markets need certainty, say Italy officials

[I]  Merkel calls for ban on full veil in election pitch

[I]  S Korean corporate titans grilled on Park scandal

[I]  Cazeneuve appointed as France’s prime minister

[I]  China clamps down on insurers’ buying spree

[I]  Credit binge leaves Asian companies exposed

[I]  Japan passes bill to lift ban on casinos

[I]  Negative-yielding bond universe shrinks by $2.5tn

 

BLOOMBERG 

[I]  Dollar Gains as 10-Year Yield Reverses Drop; Pound Leads the Way

[I]  Australia’s Economy Shrinks Most in Eight Years; Currency Slumps

[I]  Aussie Dollar Slides After Economy Contracts More Than Forecast

[I]  Trump Takes On China in Tweets on Currency, South China Sea

[I]  American Shale Companies' Rush to Hedge Is Turning the Oil Market Upside Down

[I]  Oil Falls From 16-Month High as OPEC Production Keeps on Rising

[I]  There's a New Normal in China's Debt Market

[I]  Use Of Electric Vehicles Is Exploding: Investor

[I]  99% Shareholder Wipeout Shows Risk in Hong Kong Rights Offerings

[I]  The Yen's Swift Decline Could Go Too Far

[I]  RBA Holds Key Rate as Commodity Upswing Outweighs Slowdown

 

BUSINESS LINE

[I]  Bankers want RBI to use MSS route to mop up excess liquidity

[I]  India, EU free trade pact talks stumble as bilateral investment treaties are set to lapse

[I]  Corporate tax may be cut by 1-1.5 percentage point

[I]  More development bang for the buck

[I]  Old-economy companies lay the foundation for diversification with realty foray

[I]  Netting $196 million in Q2, India-focussed offshore funds, ETFs break 12-month trend

[I]  IMD sets up renewed watch for another cyclone in Bay of Bengal

 

ECONOMIC TIMES

[I]  India will overtake Germany in car production in 5 years: Mark Fulthorpe, IHS Markit Automotive

[I]  FIIs invest $50 bn in bond market but remain cautious

[I]  Bengal's cash-less agrarian revolution: To pay support price for rice directly into bank a/c

[I]  Wheat output may be hit if temperature rises: ICAR

[I]  India's oilmeal exports dip 9.75 per cent in November

[I]  India, China will help maintain Asia's growth rate in 2017: Asian Development Bank

[I]  Germany offers support to India for high speed rail, smart cities

[I]  Scope for further monetary easing on softer inflation: Fitch

[I]  BRICS nations vow to automatic sharing of tax information

[I]  India must boost manufacturing, says ADB executive

 

BUSINESS STANDARD

[I]  Indian IT firms face uphill task for new contracts up for rebid

[I]  Scope for further monetary easing on softer inflation: Fitch

[I]  Govt asks banks to install one million points of sale

[I]  Guidelines issued for cross-border electricity transactions

[I]  Russians feel note ban pinch, Germans see biz opportunity

[I]  RBI relaxes norms for online card transactions up to Rs 2,000

[I]  Steel firms hike prices by Rs 3,000 per tonne

[I]  Jewellery purchase by NRIs declines 50%

 

Best Regards, ARBIND