MACRO ECONOMIC NEWS

WISHING A JUBILANT DAY OF JOYFUL EXPERIENCES

Macro Economic News 20 Feb 2018

 

Singapore lifts taxes, Deutsche Bank slashes investment banking jobs and most Asian markets return after the Lunar New Year celebrations.

The island nation unveiled sweeping new taxes, including lifting property levies and increasing the goods and services tax by 2 percentage points to 9 percent in its latest budget.  The government is moving to become less reliant on investment returns as it seeks to shore up savings to cope with a rapidly aging population. The stamp duty on residential properties in excess of S$1 million goes up immediately to 4 percent from 3 percent. (Bloomberg)

 

FINANCIAL TIMES

[I]  Trump backs better system of background checks after shooting

[I]  Argentine president Macri and truckers face off over reforms

[I]  Spanish minister lands top ECB post after rival pulls out

[I]  Poland attacks plan to tie EU funds to rule of law

[I]  Israel bolsters Egypt ties with $15bn gas deal

[I]  US climate change outlook worsens after further research

[I]  Chinese city touted as model for cutting healthcare costs

[I]  China seeks bigger catch from far-sea fishing fleet

 

REUTERS

[I]  Australia central bank maps steady path for rates on tepid inflation, wage growth

[I]  UK Supreme Court hears key case on gig economy worker

[I]  UK manufacturers say they urgently need clarity on Brexit

[I]  Japan's Aso: Economy out of asset price deflation doldrums

[I]  Greece closer to get disbursement of new loans: Eurogroup's Centeno

[I]  Over half of Japan firms do not plan base pay rise this year

[I]  Canada province readies housing plan amid affordability crisis

[I]  Britain will not have 'Mad Max' economy to undercut rivals, Brexit minister says

[I]  WTO should prepare for life without U.S., ex-chief Lamy says

[I]  EU chooses Spain's de Guindos for ECB vice-chair, paving way for German head

[I]  Japan exports grow, manufacturers mood sours as yen rise clouds outlook

[I]  Singapore is hiking its sales tax, but not until 2021 or later

 

BLOOMBERG 

[I]  Angry Iranians Are Forcing Their Leaders to Reboot Economy Plans

[I]  RBA Sees Inflation Rising Only Gradually as Economy Strengthens

[I]  Canada Hopes to Dodge Trump Crackdown on Foreign Steel

[I]  Singapore Plans to Boost Goods and Services Tax to 9%

[I]  Saudi Arabia Is Taking a Harder Line on Oil Prices

[I]  Singapore Matches More Problems With More Money in Budget

[I]  Chinese and Indian Tourists Visiting Australia Surge to Record

[I]  Japanese Exports Grow 12% as Trade Recovery Moves Into 2018

[I]  U.S. Oil Exports Go Up a Gear as Supertanker Sets Sail for China

[I]  As Rate Woes Roil Treasuries, Bond Funds Seek Refuge in Asia

 

BUSINESS LINE

[I]  MNCs harvest rural management talent with fat pay

[I]  Industry paying price for a strong currency: CEA

[I]  Magnetic Maharashtra attracts investments worth Rs. 12 lakh crore

[I]  Canada is open to trade and immigration, says PM Trudeau

[I]  Of govt ownership and complicated relationship

[I]  India, 37 nations move WTO dispute panel to fill up vacancies in Appellate Body

[I]  ‘We expect M&A deal numbers to move up in 2018’

[I]  Awakening the entrepreneurial spirit of Bharat

[I]  Public sector financial institutions: Keeping venture capital firms in funds

 

ECONOMIC TIMES

[I]  Nepal to deepen ties with China: K P Oli

[I]  Indian firms look for cyber security cover

[I]  Only 11% debt-ridden farmers in UP get max loan waiver

[I]  Rough diamond imports up 11 percent in April-January period: GJEPC

[I]  Suresh Prabhu says 40% of GDP to come from exports by 2025

[I]  Mumbai to Pune in just 25 minutes by 2024

[I]  Smart cities must begin with citizens, not from above:Industry

[I]  Commerce Ministry starts two-day brainstorming session on WTO

[I]  Maharashtra to help India enter top-50 on ease of doing business: Amitabh Kant

 

BUSINESS STANDARD

[I]  Signs of revival in realty sector: New schemes will do well, say experts

[I]  You will now see more volatility than you have in the past: Mark Mobius

[I]  Bill to ban unregulated deposit schemes could get Cabinet nod today

[I]  Indian textile and apparel exports fall 13% to Rs 186 billion in January

[I]  Bankruptcy rules for individuals may be delayed due to workload of DRTs

[I]  Regulatory lessons: India should reduce dependence on the banking system

[I]  RBI's revised framework for resolution of stressed assets will crimp growth

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10342;  USDINR DGCX: 64.5700;  DJIA Mini: 25123;  FTSE 100 Fut: 7204;  NIKKEI 225 Fut: 21845;  EUR-USD: 1.2387; Crude Oil (WTI): 62.16;  Gold (Spot): 1341

Best Regards, ARBIND

20 Feb 2018