MACRO ECONOMIC NEWS

WISHING A DIVINE WEEK AHEAD WITH EXPANSION OF LOVE AND COMPASSION

Macro Economic News 26 Mar 2018

 

The U.S. and South Korea reached an agreement on revising the allies’s six-year-old bilateral trade deal. Meanwhile, Treasury Secretary Steven Mnuchin said that the U.S. can reach an agreement with China. PBoC Governor said, China will further ease access to its financial sector and coordinate while opening up the capital account in an “orderly” way to improve the yuan’s convertibility and monetary policy will remain “prudent and neutral,”.

Traders are bracing for more market turmoil as markets seems to be roiled further as concerns mount that U.S. protectionism will weigh on global economic growth.

 

FINANCIAL TIMES

[I]  May scrambles to avoid UK being frozen out of EU satellite project

[I]  Pressure builds over whistleblower’s Brexit spending claims

[I]  Italy’s unlikely bedfellows hint at potential political union

[I]  Big banks develop new platform for bond issuances

[I]  China leads blockchain patent applications

[I]  China counts on restrained riposte taking sting from US trade clash

[I]  US gun control marches met with Republican silence

[I]  China holds fire on imposing US soyabeans tariffs

 

REUTERS

[I]  Prime Minister Modi says guaranteed crop prices to take all costs into account

[I]  Incoming RBNZ chief signals no change in bias after employment added to mandate

[I]  Singapore pharma on recovery path after worst output in decades

[I]  China renews pledges to open economy, protect IP rights

[I]  IDB says 2019 Argentina loans to match this year's $2.35 billion

[I]  Take Five: World markets themes for the week ahead

[I]  Mnuchin: Trump not afraid of a trade war with China - Fox News

 

BLOOMBERG 

[I]  Trump Veers Into Uncharted Trade Territory as Markets See Risks

[I]  Saudis Intercept Multiple Ballistic Missiles Fired From Yemen

[I]  What Trump Can Learn From the Cold War

[I]  Hardworking Hedge Funds Might Have the Upper Hand

[I]  U.S. and South Korea Reach Trade Agreement

[I]  China Talks Tough on Trade War, Warns U.S. of Countermeasures

[I]  China's Push for Tech Self-Sufficiency Threatens Asia's Exporters

[I]  China Is About to Shake Up the Oil Futures Market

[I]  Hedge Funds Cut Bullish Hog Wagers Days Before China Tariffs

[I]  China's Tit-for-Tat Tariffs May Actually Boost U.S. Metal Makers

 

BUSINESS LINE

[I]  PM Modi promises at least 1.5x cost as minimum support price for crops

[I]  Guarantees offered by banks outside India on the rise, touch Rs. 1.95 lakh cr

[I]  As rejection rates increase, IT firms may go for fewer H1-B applications in FY19

[I]  Oil refiners seek govt policy to move more cargo on foreign ships

[I]  Petroleum Ministry needs to convince the PMO to allow unrestricted oil exploration

[I]  India, China to discuss market access, trade remedies at ministers’ meet

[I]  Build a database of municipal bonds

[I]  Export subsidies should go

[I]  Leather exporters approach Italian banking group for funds

 

ECONOMIC TIMES

[I]  Gifts to funding studies: Indians sent record amount of $1.2 bn  abroad in January

[I]  Aadhaar to get face authentication feature from July

[I]  Dubai stock market hits two-year low following US tariff campaigns

[I]  Firms raise over Rs 58,000 crore via QIP during Apr-Jan

[I]  Sebi plans to lower expenses charged by mutual funds

[I]  Sebi plans to come out with new buyback rules

[I]  India proposes to negotiate trade pact with Africa: Suresh Prabhu

[I]  Global trade war can lead to collateral damage for India: Assocham

[I]  359 infrastructure projects show cost overrun of Rs 2.18 lakh crore

[I]  Formulate action plan to recover tax arrears: Parliamentary panel

[I]  Business with nil tax liability may get to file GST returns bi-annually

[I]  Set aside divestment proceeds for sick PSUs revival: Parliamentary panel

 

BUSINESS STANDARD

[I]  Telecom sector to create 10 mn jobs in next five years: Skilling council

[I]  UP sugarcane outstanding piles up to Rs 96 bn; production at record 9 mt

[I]  Lateral buying swells FY18 oil capex to $1.11 trillion till February

[I]  Vehicle scrap policy to go for Cabinet nod in a month, says Nitin Gadkari

[I]  Set aside divestment proceeds for sick PSUs revival: Parliament panel

[I]  PM Modi to discuss role of CPSEs with PSU chiefs for 'New India-2022'

[I]  India proposes to negotiate trade pact with Africa: Suresh Prabhu

[I]  Corrections and valuations: Scams, banking crisis may keep markets subdued

 

MARKETS (06:45 am) 

[I]  SGX NIFTY Fut: 9963;  USDINR DGCX: 64.9875;  DJIA Mini: 23711;  FTSE 100 Fut:  6805;  NIKKEI 225 Fut: 20406;  EUR-USD: 1.2368; Crude Oil (WTI): 66.37;  Gold (Spot): 1346

Best Regards, ARBIND

26 Mar 2018