MACRO ECONOMIC NEWS

WISHING INNER MAHAVEER OF SELF RULE THE ROOST

Macro Economic News 29 Mar 2018

 

Kim Jong Un’s administration is seeking diplomatic talks with Japan. The U.S. economy grew in the fourth quarter at a faster pace than last estimated, helped by an upward revision to household spending on services and a smaller drag from inventories.

Volatility remains elevated as markets swing up and down with abandon. Overwhelming majority of the world's equity desks will be shut. China, Japan, South Korea and Taiwan will stand alone as the only four $1 trillion+ stock markets trading on the final day of the week.

 

FINANCIAL TIMES

[I]  Record ‘mega-deal’ surge pushes global takeovers beyond $1.2tn

[I]  US and South Korea close to side agreement on currency

[I]  Kim Jong Un confirms summits to be held with US and South Korea

[I]  China academics divided over Australia influence crackdown

[I]  May heads for autumn showdown as countdown to Brexit begins

[I]  Ethiopia’s ruling coalition elects reformer after years of unrest

[I]  Subsidy-free renewable projects on ‘cusp of breakthrough’

[I]  Banks boost lending to environmentally damaging energy projects

 

REUTERS

[I]  India beckons big tech firms, allows imports of used goods for repair

[I]  China's leaders approve rules to rein in $15 trillion asset management sector

[I]  Japan must avoid bilateral trade talks with U.S. - Aso

[I]  China does not want a trade war with the U.S.- China commerce ministry

[I]  China says U.S approach on trade sets bad precedent, may trigger domino effect

[I]  India's easing of sugar export rules could further pressure global prices

[I]  China says North Korea's Kim pledged commitment to denuclearisation

[I]  China could target broad U.S. business interest in trade spat: China Daily

[I]  U.S. fourth-quarter growth revised up to 2.9 percent; consumer spending surges

[I]  U.S. upbeat about fast NAFTA deal, Canada says much work is left  

 

BLOOMBERG 

[I]  U.S. Pushes for Quick Nafta Agreement But Canada Needs Details

[I]  Vietnam's Economy Expands More Than 7% in First Quarter

[I]  Kenya to Sell Water Bonds to Plug Funding Gap Leaving Nation Dry

[I]  India Is Building New Roads at a Breakneck Pace

[I]  Singapore Boasts It's Beating Hong Kong to Be Asian Business Hub

[I]  Australia Should Chill Out About Chinese Cash, Watchdog Says

[I]  Japan’s Retail Sales Rebound to Modest Gain in February

[I]  South Korean Cash Flows Overseas as Investors Dodge Risks at Home

[I]  New Owners of Air India to Get Planes and $5 Billion of Debt

 

WALL STREET JOURNAL

[I]  U.S. Fiscal Future Won’t Be Like Its Carefree Past

[I]  U.S. GDP Growth Revised Up to 2.9% Rate in Fourth Quarter

[I]  U.S. Consumer Confidence Declined in March

[I]  What’s at Stake in Tariff War: WTO’s Future

[I]  China Growth Loses Steam as Factory Activity Slips to 19-Month Low

 

BUSINESS LINE

[I]  SEBI to allow ‘physical settlement’ in derivatives

[I]  Interest rate on small savings schemes unchanged for Q1 next fiscal

[I]  PMRPY: Centre will now contribute employer’s share of EPS for first 3 years

[I]  Get set for E-way bill: Adhia to industry

[I]  Centre lifts ban on bulk exports of edible oils

[I]  Airline to charge more for aisle and window seats

[I]  Integrated Scheme on School Education gets nod

[I]  Insolvency Code: amended regulations on IP from April 1

[I]  Domestic natural gas price hiked marginally

[I]  Bengal back on the industrial fasttrack

[I]  Funding MSMEs to fuel the economy

 

ECONOMIC TIMES

[I]  Sebi's yes to Kotak recommendations will leave corporate biggies with designation heartburn

[I]  Private equity investment in India retail assets up 15% in 2017 at $800 million: Report

[I]  PE investments hit all-time high of $21 billion in 2017: Report

[I]  FY18 divestment receipts exceed revised budgetary target of Rs 1 lakh crore: Arun Jaitley

[I]  April-February fiscal deficit balloons to Rs 7.16 lakh crore, at 120% of revised FY18 aim

[I]  RBI rolls out regulations for cross-border mergers

[I]  China to take concrete steps to bridge trade gap, set up industry park: Suresh Prabhu

 

BUSINESS STANDARD

[I]  30-year hedge for Indian companies to insulate from volatile exchange rates

[I]  Sebi clamps down on derivative markets; algo trading made more accessible

[I]  Trump's immigration proposal could benefit Indian Americans professionals

[I]  NITI Aayog launches ranking of 'aspirational' 101 districts in India

[I]  Ease of Doing business: W Bengal moves from laggard to leader among peers

[I]  Deposit growth and credit expansion a tale of contrasts in 2017-18

 

MARKETS (09:50 am)

[I]  SGX NIFTY Fut: 10126;  USDINR DGCX: 65.2950;  DJIA Mini: 23832;  FTSE 100 Fut:  6943;  NIKKEI 225 Fut: 21141;  EUR-USD: 1.2329; Crude Oil (WTI): 64.65;  Gold (Spot): 1328

Best Regards, ARBIND

29 Mar 2018