MACRO ECONOMIC NEWS

WISH, THIS DAY GRACES US WITH THE SPIRIT OF WISDOM AND REVELATION

Macro Economic News 17 May 2018

 

Trump tempers North Korean summit cancelation concerns. Amazon takes its battle with Alibaba onto the Chinese e-commerce giant’s home turf. And U.S.-China trade talks get going. The economic data calendar includes Australia’s jobs report, Japanese machine orders, Singapore export data and Malaysian GDP. Indonesia’s central bank policy decision will be in focus after the rupiah tumbled to a 31-month low amid a global pummelling of emerging-market currencies that was spurred by surging U.S. bond yields; Bank Indonesia is expected to raise its benchmark by a quarter point to 4.5 percent, according to analysts surveyed by Bloomberg.

 

FINANCIAL TIMES

[I]  Total warns of Iran pullout over US sanctions threat

[I]  US brushes off North Korean threats to pull out of summit

[I]  Big Four accountancy firms plan for forced break-up

[I]  Europe’s leaders patch differences to tackle Trump on trade

[I]  Balkan states’ drive to join the EU faces hurdles

[I]  Top ECB official calls for accelerated banking union drive

[I]  Japan’s economy shrinks for first time since 2015

[I]  UK breaks lending drought for Zimbabwe with $100m loan

 

REUTERS

[I]  India's small businesses find credit in short supply after mega-fraud

[I]  Japan plans retaliatory tariffs against United States: NHK

[I]  Tillerson warns of U.S. ethical crisis, in apparent swipe at Trump

[I]  U.S., China to launch trade talks; China hawk Navarro's role reduced: officials

[I]  Weak currency will further curb Indian palm oil imports: industry

[I]  EU heads discuss bold-or-fold strategy toward Trump tariffs

[I]  U.S. pushing for NAFTA deal as Thursday deadline approaches

 

BLOOMBERG 

[I]  Hong Kong Spends $1.2 Billion Defending Its Currency Overnight

[I]  When Market Pessimism Becomes a Self-Fulfilling Prophecy

[I]  Chinese Firms Eye Frankfurt Listings to Boost European Fortunes

[I]  Argentina to Accelerate Deficit Reduction as Part of IMF Talks

[I]  U.S. Auto Safety Agency Is Probing Utah Crash of Tesla on Autopilot

[I]  Brazil Holds Key Rate, Ending Its Easing Cycle

[I]  Why Gas-Gorging Asia Wants an End to Faraway Pricing

[I]  When Market Pessimism Becomes a Self-Fulfilling Prophecy

[I]  Argentina to Accelerate Deficit Reduction as Part of IMF Talks

[I]  Brazil Holds Key Rate, Ending Its Easing Cycle

[I]  The Top Growth Risks Clouding Malaysia’s Outlook With Policy in Flux

 

WALL STREET JOURNAL

[I]  Venezuela’s Creditors Are Cutting Its Crude-Oil Lifeline

[I]  U.S. Industrial Production Rose 0.7%

[I]  U.S. Housing Starts Dropped in April

[I]  Japan’s Longest Stretch of Growth in 28 Years Ends

[I]  Climbing Gas Prices Didn’t Keep Consumers From Spring Spending

[I]  ‘Rules of Origin’ Risk Tripping Up Trade Post-Brexit

[I]  U.S. Workers Already Feel the Effects of U.S.-China Trade Tensions

[I]  Hezbollah Said to Be Laundering Money in South American Tri-Border Region

[I]  Real Time Economics: Treasury Yields Hit Fresh Highs | Nafta Deadline Looms | The Economics of Taylor Swift and Ticket Scalpers

 

BUSINESS LINE

[I]  President Kovind calls for wider exploration of offshore mineral resources

[I]  Insolvency: Quality, competence drive choice of the resolution professional

[I]  Most FMCG firms beat Street math in Q4

[I]  Foodgrain output at record 279.5 mt in 2017-18

[I]  Pulses imports: Data anomalies, restrictions put trade in a fix

 

ECONOMIC TIMES

[I]  Govt to impose deadlines on PSU banks under RBI watch-list in new turnaround plan

[I]  April sees 23% jump in venture investments at $2.4 billion

[I]  Natural rubber production rises marginally while consumption peaks for 2017-18

[I]  Government approves Rs 5,000 crore for dedicated micro irrigation fund

[I]  Gearing up for 2019 elections: Govt eyes advancing completion targets for Housing for All

[I]  Cabinet nod for out-of-court dispute resolution for PSUs

[I]  Cabinet okays use of surplus foodgrain for producing ethanol

[I]  Cabinet approves tax information exchange pact with Brunei

[I]  New labour policy to make Kerala employee-friendly

[I]  Centre proposes charging points for electric vehicles every 3 km

 

BUSINESS STANDARD

[I]  Cable companies feel the need for speed

[I]  Shipping freight market revives: Indian companies are yet to see the change

[I]  SaaS companies outside India get more overseas revenue, says survey

[I]  Malaysia scraps GST, experts advise caution to Indian govt

[I]  Govt to push wage code, table social security code in Monsoon Session

[I]  At $76.43 a barrel, Indian basket of crude oil rises highest since Dec 2014

 

MARKETS (8:00 am)       

[I]  SGX NIFTY Fut: 10766;  USDINR DGCX: 67.8700;  DJIA Mini: 24746;  FTSE 100 Fut: 7714;  NIKKEI 225 Fut: 22811;  EUR-USD: 1.1832; Crude Oil (WTI): 71.71;  Gold (Spot): 1294          

Best Regards, ARBIND

17 May 2018