MACRO ECONOMIC NEWS

WISHING A GRACIOUS DAY TO ACKNOWLEDGE CONTRIBUTION OF COUNTERPART

Macro Economic News 06 Mar 2018                                 

 

Trump stands firm on plans for steel and aluminum duties. Trump’s tariffs risk further distancing the U.S. from Asia, after the president withdrew from the Trans-Pacific Partnership pact last year.

Chinese shadow lenders account for about 15 percent of the world’s riskier non-bank loans, according to a regulator’s report. The Chinese companies accounted for $7 trillion of $45.2 trillion in global shadow-banking assets tied to the supply of credit that could pose systemic risks, the Financial Stability Board said in a report on Monday.

 

FINANCIAL TIMES

[I]  UK-US Open Skies talks hit Brexit turbulence

[I]  US tariff plan prompts aluminium and steel scramble

[I]  Foreign banks drawn into heated US debate over Dodd-Frank reform

[I]  Shadow banking grows to more than $45tn assets globally

[I]  Global investors shun UK stock market

[I]  Italy delivers a damning verdict on its elite

[I]  German coalition fails to solve woes of the weak centre-left

 

REUTERS

[I]  India's services industry contracts in February as inflation hits demand

[I]  India's tax hike to slash palm oil imports, boost soyoil, sunflower oil buying

[I]  China boosts defence spending, rattling its neighbours' nerves

[I]  Trump faces pushback on tariffs but says he will not back down

[I]  U.S. says time running short for NAFTA talks, floats bilateral deals

[I]  North Korea leader wants to advance Korea ties, makes agreement with South: KCNA

[I]  West is responding to Putin's 'more assertive Russia': NATO chief

[I]  India's services industry contracts in February as inflation hits demand

[I]  Euro zone's economic roar lost some volume in February - PMI

 

BLOOMBERG 

[I]  Asia's Biggest Currency Run in Two Decades May Be About to End

[I]  Trump Administration Backs Internet Taxes at U.S. Supreme Court

[I]  Draghi Is Given Triple Whammy of Reasons to Demand ECB Patience

[I]  U.K. Consumer Spending Growth Cools

[I]  With Friends Like These: Trump’s Tariffs Hurt Asian Allies

[I]  Trump Trade Crackdown Shows ‘America First’ Happening at Last

[I]  Global Economic Upswing Knocked Back by Trump’s Trade-War Threat

[I]  Convenience-Store Squeeze Shows Deflationary Dilemma Facing BOJ

[I]  It Could Be Crunch Time for World's Third Most-Indebted Country

[I]  China Turns Fiscal Screws While Maintaining 6.5% Red Line on GDP

[I]  Crypto Exchanges Are Raking in Billions of Dollars

[I]  China Faces an ‘Impossible Challenge’ on Budget, Tax and GDP

[I]  Saudis Cut Asia Light Oil Pricing for First Time in Eight Months

[I]  China’s Shadow Banks May Pose a $7 Trillion Risk to Stability

[I]  Markets May Need to Buckle Up for Trade Tensions Over Long Haul

[I]  Key Points From China Government Work Report for 2018

[I]  BOJ's Kuroda Joins Queue of Central Banks Looking Toward Exit

 

BUSINESS LINE

[I]  For Chinese firms, Indian start-ups are the golden goose

[I]  Centre may get a windfall from SEBI penalties on sham F&O transactions

[I]  RBI to open funds tap for banks this month

[I]  Crisil pegs GDP growth at 7.5% this fiscal

[I]  With private channels booming, Minister urges Doordarshan to enhance its reach

[I]  China , India replace US as top oil importers, says IEA report

[I]  FinMin sets up panel to review fintech sector, leverage it for credit to MSMEs

[I]  Solar cell makers withdraw petition seeking duty on imports; to file fresh plea

[I]  Why consortium lending by banks hasn’t delivered

[I]  Entrepreneurship: Beyond self-employment to innovation

 

ECONOMIC TIMES

[I]  PSBs may be asked to take passport details for loans over Rs 50-cr to avoid PNB repeat

[I]  Hardening yields in developed markets: Welcome to world of disruptions

[I]  Sustaining growth trajectory key challenge for India: IMF

[I]  Maharashtra's 2017-18 sugar production to touch 10 million tonnes

[I]  Trade wars: US blocking appointment of members of WTO’s appellate body

[I]  Steel export to US may fall by 9-14 MT after Donald Trump's duty hike

[I]  Services PMI falls to 47.8 in February from 51.7 in January

[I]  What India’s return as fastest growing emerging economy really means

[I]  Rs 46,000 cr initiative taken for new express highways, elevated roads: Govt

[I]  Government may go slow on allowing employers to recruit workers on fixed-term contracts

[I]  RBI to inject Rs 1 lakh cr cash into banking system in March

[I]  India to check if US' move to hike duties on steel, aluminium follows global trade norms

[I]  Finmin tells PSBs to go with top bidder for stressed assets

 

BUSINESS STANDARD

[I]  I-T Dept probes Rs 10-bn tax refund fraud by govt and PSU employees

[I]  This UIDAI order to telcos on Aadhaar is good news for phone users

[I]  Indian industry braces for flood of Chinese steel following US tariff hike

[I]  ISMA to raise sugar production estimate on increased cane yield

[I]  Services sector package: Govt yet to decide what it will spend funds on

[I]  No alignment yet, but land prices spurt 40% on Delhi-Jaipur expressway

[I]  Feb services PMI falls to 6-month low as inflation hits demand; jobs rise

[I]  Economists vs scientists on long-term growth

 

MARKETS (06:45 am) 

[I]  SGX NIFTY Fut: 10422;  USDINR DGCX: 65.2350;  DJIA Mini: 24914;  FTSE 100 Fut: 7139;  NIKKEI 225 Fut: 21461;  EUR-USD: 1.2357; Crude Oil (WTI): 62.77;  Gold (Spot): 1323          

Best Regards, ARBIND

06 Mar 2018