MACRO ECONOMIC NEWS

WISH THIS WEEK SETS OFF THE WALK TO ETERNAL WISDOM

Macro Economic News 28 May 2018

 

Will they or won’t they – the guessing game on the U.S.-North Korean summit continues. Oil remains under pressure as Saudi Arabia and Russia flag boosting production, while Asian futures fall early morning, with trading potentially muted by U.S. and U.K. holidays. China's PMIs were probably little changed this month from April, forecasts show. India's GDP growth is forecast to stay little changed, as rising oil prices and borrowing costs counter stronger rural expansion. Japan employment, retail sales, Hong Kong trade, Australian building permits, industrial output for South Korea and Thai trade figures, U.S. May jobs report and a key inflation in the euro area will be key numbers to watch. 

 

FINANCIAL TIMES

[I]  US presses China to sign long-term import contracts

[I]  Britain’s plans for ‘no-deal’ Brexit have ground to a halt

[I]  Hedge fund stars rake in billions for new funds

[I]  Europe’s bank bosses stress need for consolidation

[I]  Oil producers prepare for output boost

[I]  US officials enter North Korea to prepare for summit

[I]  Qatar bans imports from four Arab neighbours

[I]  Wealth management most fragmented in global finance

 

REUTERS

[I]  U.S., North Korean officials meet for talks on summit

[I]  Ireland quietly comes to terms with dramatic change after abortion vote

[I]  China central bank raises 28-day reverse repo rate by 5 bps, matching previous hikes

[I]  Oil prices fall as top three producers look to boost supplies

[I]  China April industrial profit growth rebounds to six-month high

[I]  Euro crawls off 6-1/2-month lows, Italian political woes limit bounce

[I]  U.S., North Korean officials meet for talks on summit

[I]  Global Economy: Europe and U.S. lurch closer towards trade war

[I]  China April industrial profit growth rebounds to six-month high

 

BLOOMBERG 

[I]  Yuan Gives Comfort to Analysts as China-U.S. Yield Gap Dwindles

[I]  Trump Appears to Confirm His Summit With Kim Back on Track

[I]  China's Toughest Housing Curbs Test Limits of Speculative Buyers

[I]  Trump-Kim Tango, BI's Surprise Meeting, Italian Turmoil: Eco Day

[I]  India's Correlation With Global Markets Approaches 10-Year Low

[I]  Decade-Low Costs for Dollar Loans Poised to Rise for India Inc.

[I]  Currencies Rebound as Lira Bucks Trend in a Wild Ride

[I]  Italy Political Turmoil Sees Populist Parties Rage, Euro Rally

[I]  China's Equity Market Is About to Score a Rare and Timely Win

[I]  New Bank Indonesia Governor Is Wasting No Time on Rate Hikes

[I]  New Zealand Goes Cool on Migrants Just When It Needs Them Most

[I]  Saudi-Russia Oil Policy Shift Sets Stage for Tense OPEC Meeting

[I]  Italy May Be Cut by Moody's on Concerns Over New Government

 

WALL STREET JOURNAL

[I]  Business Investment Rebounds in April

[I]  Fed’s Powell Says Central Banks Can’t Take Independence for Granted

[I]  Americans’ Confidence in the Economy Stalls

[I]  Global Economy Week Ahead: U.S. Jobs Report, Brazil GDP, Eurozone Inflation

[I]  Congressional Budget Office’s Long-Term Deficit Forecast Dwarfs White House Estimate

[I]  U.S. Existing Home Sales Fell in April

[I]  The ‘Tax-Free’ Investment Causing Massive Tax Headaches

 

BUSINESS LINE

[I]  More funds may be needed to cover interest subsidy of PM’s weaker section home plan

[I]  Infra woes clip UDAN’s wings

[I]  India to attend WTO members meet in Paris

[I]  Angel investments in small start-ups get tax exemption

[I]  Sugar price must be pegged to cane’s: ISMA to PMO

[I]  Aadhaar-bank a/c linking ‘cannot be mandated’

 

ECONOMIC TIMES

[I]  How inordinate delays can ruin the purpose of bankruptcy code

[I]  FPIs' bearish stance continues; net outflow at $4 billion in May

[I]  The wackiest whispers and murmurs in corporate corridors & policy parlours

[I]  India’s got the innovations, now just scale them up

[I]  Finance ministry in talks with investors to set up strategic investment fund under NIIF

[I]  EPFO cuts administrative charges; firms to save Rs 900 crore

[I]  India launches 2nd IT corridor in China to gain access to big Chinese market

[I]  All macroeconomic parameters improved in last 4 years: NITI Aayog

[I]  Economy on recovery path, investments likely to pick up: CII

[I]  Performance check for companies investing abroad

[I]  GST to be levied on goods stored in customs warehouse only on final clearance: CBIC

 

BUSINESS STANDARD

[I]  FPIs press sell button on Indian stocks, bonds worth $7 bn since April

[I]  At current rates, Bangladesh could top India's per capita income by 2020

[I]  Centre clears double taxation under GST kept in bonded warehouses

[I]  Two years of the Insolvency and Bankruptcy Code: The hits and misses

[I]  Indian motor fuel prices fourth highest among top 10 crude oil nations

[I]  After 11 months of inception, SEZ Rules yet not aligned with GST laws

[I]  Statsguru: Indian ranks 44th in World Competitiveness Ranking 2018

[I]  I-T department bars CAs from valuing shares of closely held firms

[I]  Govt to form new electronics policy to build on the momentum: IT Minister

[I]  With no improvement on NPAs front, subsidiaries come to the banks' rescue

[I]  India needs to diagnose what's wrong with its GDP measurement system

[I]  Monsoon to hit Kerala coast in the next 48-72 hours: Met department

 

MARKETS (8:30 am)

[I]  SGX NIFTY Fut: 10632;  USDINR DGCX: 67.7100;  DJIA Mini: 24815;  FTSE 100 Fut: 7720;  NIKKEI 225 Fut: 22445;  EUR-USD: 1.1712; Crude Oil (WTI): 66.21;  Gold (Spot): 1298          

Best Regards, ARBIND

28 May 2018