Macro Economic News 08 Apr 2017

 

FINANCIAL TIMES

[I]  US and Russia clash over Trump’s strike on Syria

[I]  EU considering excluding UK from trade talks

[I]  Luxury retailers beat a retreat from ‘vanity’ real estate

[I]  Iran’s hardliners pick candidates for presidential race

[I]  Silicon Valley has long way to go on gender diversity

[I]  Fitch cuts South Africa’s credit rating to junk

[I]  Greece strikes deal on reforms with bailout monitors  

[I]  London is top spot for fast-growing EU companies

[I]  US stock funds see biggest outflows in 18 months

 

BLOOMBERG 

[I]  Europe Should Stick to Rules on Bank Rescues, ECB's Mersch Says

[I]  Iran Will Cut Benefits on Oil Sales to Indian State Refiners

[I]  America’s Retailers Are Closing Stores Faster Than Ever

[I]  Payroll Gains Slow, U.S. Jobless Rate at Lowest Since 2007

[I]  Google Brings Fake News Fact-Checking to Search Results

[I]  Trump Trade Threats Force Export-Dependent Vietnam to Pivot

[I]  Bank of Thailand Governor Discusses Currency Manipulation

[I]  India's Surprise Tightening Offers Path for Peers to Follow

 

BUSINESS LINE

[I]  Tax evasion: Rs. 1.37 lakh cr detected in last 3 years, says Finance Ministry

[I]  Motor Vehicle Amendment Bill makes space for innovations

[I]  India, UK to focus on energy efficiency

[I]  The cost of bad governance

[I]  In telecom, it’s the desi firms that ring louder

[I]  GST: NBFCs pitch for full input tax credit on lease transactions

[I]  Demand for office space leasing perks up in first quarter

 

ECONOMIC TIMES

[I]  Govt studying report on changing FY: Jaitley

[I]  PMO to review affordable housing programme 

[I]  High government support to deal with stressed asset 'negative': Fitch

[I]  CAG questions govt’s capital allocation to state-run banks

[I]  Parliamentary panel for heavy penalty on private EPF trusts for default

[I]  RBI proposes setting up of special infra finance banks

[I]  Why could the popularity of farm loan waiver be detrimental for PSU banks?

[I]  18 lakh cases where income and account profiles don't match: Finance Minister Arun Jaitley

 

BUSINESS STANDARD

[I]  Indian, foreign creditors to be equal under new insolvency provisions

[I]  RBI proposes wholesale, long-term finance banks

[I]  M&As grow in consumer durables sector

[I]  Centre to meet state agri ministers next week to discuss farm reforms

[I]  India second-most preferred Asian market: Survey

 

Best Regards, ARBIND

Link to News on http://ECO.arbind.in/

Macro Economic News 07 Apr 2017

 

FINANCIAL TIMES

[I]  Silicon Valley has long way to go on gender diversity

[I]  Thai constitution opens way for elections

[I]  Senate defeat raises fears over Italy coalition

[I]  India central bank attacks $5.6bn farm-loan waiver

[I]  Plan to transform China village into tech city sparks frenzy

[I]  Draghi quick to quash talk of end to negative rates

[I]  Asia forecast to drive global growth despite China slowdown

 

BLOOMBERG 

[I]  Asian Countries in Crosshairs as Trump Hunts for 'Trade Abuse'

[I]  Australia's Delayed Recession Fallout Is Showing Up in Its Jobs Data

[I]  Traders Are Worried About Chinese Local Government Debt Again

[I]  Mobius Says China Stocks Are Too Expensive

[I]  China's Local Debt Nightmare Is Getting a Rerun After Rating Cut

[I]  Investors in South Korea See Opportunity Amid Chaos

 

BUSINESS LINE

[I]  RBI keeps repo rate on hold, shifts focus to excess liquidity

[I]  GST Bills passed in Rajya Sabha without amendments

[I]  Services PMI at 5-month high in March

[I]  Govt downgrades 26 PSUs from ‘excellent’ rating

[I]  RBI nod for banks to invest in REITs hailed

[I]  Revised action plan to deal with stressed assets in the works: RBI

 

ECONOMIC TIMES

[I]  Govt adds procedural speed to its Rs 21.47-lakh-cr spending plan

[I]  Rupee scales 20-month high on RBI's growth outlook

[I]  Agriculture has unlimited scope with satellite and remote sensing technologies: Minister

[I]  Households expect prices to rise faster, says RBI survey

[I]  RBI projects inflation to rise to 5%

[I]  India's growth to accelerate to 7.4 per cent in 2017-18: ADB

[I]  Meet on India to bring business leaders, policy makers to NY

[I]  Banks will have to deal with bad loans, no more forbearance: says Urjit Patel

[I]  More outsiders needed in governance: CEA Arvind Subramanian

[I]  RBI governor takes a subtle dig at farm loan waivers, says it impacts credit discipline

 

BUSINESS STANDARD

[I]  Extended cut-off dates hurt crop insurance scheme

[I]  Farm loan waiver engenders a moral hazard, says Urjit Patel

[I]  RBI surprises with reverse repo hike

[I]  More wind in the sails for green energy

[I]  ADB scales down India's growth to 7.4% for FY18

[I]  RBI intends to bring excess liquidity to neutral position

[I]  RBI promises more effective steps to tackle NPA pains

[I]  Inflation is elevated compared to where we want it to be: Urjit Patel

[I]  Cash management bills, reverse repo to take care of excess liquidity

 

MARKETS (7.30 am)

[I]  SGX NIFTY Fut: 9223;  USDINR DGCX: 64.7375;  DJIA Mini Fut: 20508;  FTSE 100 Fut: 7220;  NIKKEI 225 Fut: 18667;  EUR-USD: 1.0660; Crude Oil (WTI): 52.69;  Gold (Spot): 1268

 

Best Regards, ARBIND

Link to News on http://ECO.arbind.in/

Macro Economic News 06 Apr 2017

 

FINANCIAL TIMES

[I]  Fed eyes start to balance sheet cuts this year

[I]  Trump signals tougher stance on Syria

[I]  Cambodia scraps US military aid programme

[I]  Foreign business chiefs woo Washington

[I]  Ireland’s PM Kenny in diplomatic push on Brexit

[I]  China emerges as top buyer of US crude oil

[I]  Ukrainians will finally feel benefit of reforms this year

[I]  Wall St goes into reverse as risk appetite fades

[I]  Brazil’s pension reform a crucial signal for investors

 

BLOOMBERG 

[I]  Global Shipping Fleet Braces for Chaos of $60 Billion Fuel Shock

[I]  Toronto Home Prices Just Jumped Another 33%

[I]  Trump Says He Now Has Responsibility to Respond on Syria

[I]  Investors in South Korea See Opportunity Amid Chaos

[I]  Asian Bond Rally's Fate Splits Investors After Flows Surge

[I]  Dollar Declines From Highs as Fed Favors Shrinking Balance Sheet

[I]  In Hot Debt Markets, Wall Street Shows It Can Beat Shadow Banks

 

BUSINESS LINE

[I]  UK visa restrictions will hit 30,000 Indian techies

[I]  No question of data leakage from Aadhaar system: Minister

[I]  India to flag new work visa rules, curbs on farm exports with UK

[I]  Major ports’ cargo handling up 7%; petro products drive traffic

[I]  No big changes proposed in RTI rules: govt

[I]  Govt plans to rank secondary steel makers for easier credit access

[I]  Bank deposits still a safe bet, feel investors

[I]  PE players seen replacing banks as major funding source for realty

 

ECONOMIC TIMES

[I]  IT’s fall from grace: Premium position of 15 yrs gone, stocks at deep discount

[I]  What RBI can really do to suck out the Rs 4 lakh crore excess cash from system

[I]  Commerce Ministry spent 99.45% of FY17 plan outlay, highest in 5 yrs

[I]  Higher tax mop-up gives govt Rs 15,000 crore fiscal leeway in Fy18

[I]  RBI: Currency in circulation was 74% of pre note ban era by March 31

[I]  Trade deficit with China at $46.7 billion in April-February: Government

[I]  India allows duty-free imports of 500,000 T of raw sugar: Source

[I]  20 road developers exit projects worth Rs 12,327 cr in 2 years

[I]  8 states declared drought affected, Centre allows them to offer 50 days of extra work under NREGS

[I]  Ban on cash transactions of over Rs 2 lakh not applicable for bank, post office withdrawals

[I]  Expats who stayed in India for 182 days or more must apply for Aadhaar card: CBDT

[I]  About 2.5 lakh patent applications pending: Nirmala Sitharaman

 

BUSINESS STANDARD

[I]  Card, mobile banking volumes fall, sharp rise in UPI

[I]  Pre-leased commercial space sales up 17 per cent in first quarter

[I]  Hoteliers are now investing in technology to build better customer profiles

[I]  Cascading effect of liquor ban on highways: Over 1 million jobs at stake

[I]  New rail regulator to decide on tariff, ease investment process

[I]  M&As in road sector pick up over easier exit norms: Icra

[I]  Banks want RBI to relax norms for loans to highly indebted firms

[I]  Global pension funds chase Indian infra for better returns

 

MARKETS (7.30 am)

[I]  SGX NIFTY Fut: 9242;  USDINR DGCX: 65.1625;  DJIA Mini Fut: 20545;  FTSE 100 Fut: 7209;  NIKKEI 225 Fut: 18683;  EUR-USD: 1.0680; Crude Oil (WTI): 50.91;  Gold (Spot): 1255

 

Best Regards, ARBIND

Link to News on http://ECO.arbind.in/