MACRO ECONOMIC NEWS

THIS WEEK, WISH WE WITNESS MAGIC IN THE AIR ALL AROUND

Macro Economic News 04 Jun 2018

 

Trade showdown looms as U.S. to meet Group of Seven allies at summit. China warned that all commitments so far in talks with the U.S. over trade will be withdrawn if the president carries out his threat to impose tariffs. Interest rate decisions in India and Australia will be in focus in Asia this week, with both central banks expected to stay on hold. Chinese trade data is set to loom large with U.S. negotiators in Beijing. Inflation and credit numbers are also due. In Japan, the focus is on whether a revision to first-quarter GDP shows the economy extended a growth streak or stumbled, as preliminary data indicated.

 

FINANCIAL TIMES

[I]  Italy’s eclectic new cabinet raises eyebrows

[I]  Chinese investment in central London property falls

[I]  G7 countries condemn US in rebuke over tariffs

[I]  Iran’s hardliners and reformers present a united front

[I]  Merkel sets out views on eurozone reform

[I]  US pledges total North Korean de-nuclearisation

[I]  China scales back investment in Ethiopia

[I]  Polish companies go west in search of profits

[I]  Lack of European reform, not Italy, will break the eurozone

 

REUTERS

[I]  India urges global planemakers to 'Make in India'

[I]  China says it regrets EU's WTO action over patent rights

[I]  China launches $16 billion fund to boost Yangtze integration: Xinhua

[I]  Jordanians renew protests against IMF driven-tax hikes

[I]  Talks end with China warning trade benefits at risk if U.S. imposes tariffs

[I]  China warns trade benefits at risk if U.S. imposes tariffs

[I]  Finance chiefs kick trade dispute to leaders' summit

[I]  Global trade skirmish puts factories, recovery at risk

 

BLOOMBERG 

[I]  India's $210 Billion Bad Debt Lures Funds Hunting for Returns

[I]  Brexit Britain Wants to Become a Mecca for Driverless Vehicles

[I]  The Cost of a Curry Just Got a Whole Lot Pricier in Indonesia

[I]  China Banks' Waning Demand Suggests More Corporate Bond Defaults

[I]  Emerging-Market Angst Pushes Australia Rate Bets Into Distance

[I]  Commonwealth Bank to Pay Record Fine to Settle Laundering Suit

[I]  China Bondholders Set to Find Out How Much a Promise Is Worth

[I]  Shanghai Airport Counts On Duty-Free Shops for Valuation Premium

[I]  U.S. Allies Push Trump for Change of Heart as Trade War Looms

[I]  OPEC+ Committee Says More Investment Is Needed to Ensure Oil Supply

 

WALL STREET JOURNAL

[I]  Global Trade Tensions Intensify

[I]  Widening Tariffs Threaten to Take a Big Economic Toll

[I]  Global Growth Story Fades, Dimming Market Optimism

[I]  Why Italy Is Flirting with Euro Exit and Spain Isn’t

[I]  Merkel Outlines Plan to Overhaul EU

[I]  U.S., China End Latest Trade Talks Without Settlement

[I]  Trump Raises Prospect of Separate Trade Deals With Canada, Mexico

[I]  Europe Launches WTO Challenge to U.S. Tariffs

[I]  Real Time Economics: Friends, Neighbors Prepare to Strike Back at U.S. Tariffs

 

BUSINESS LINE

[I]  Regulatory tweaks lead to big MF inflows from smaller cities

[I]  Milk, vegetable supply hit as farmer stir enters third day

[I]  ‘Rise in prices of commodities will put pressure on margins in FY19’

[I]  Free banking services will not attract GST

[I]  RBI panel likely to keep key rates on hold

[I]  Monetary panel may hike repo rate, says DBS Research

 

ECONOMIC TIMES

[I]  What RBI can do to take the sting out of possible rate hike by MPC

[I]  India, China to give a fillip to security coop

[I]  FPI outflows hit 18-month high of Rs 29,714 cr in May

[I]  RBI meet, progress in monsoon among 6 factors that may guide market this week

[I]  Opec’s June oil meet set to be a disaster, and it’s disadvantage India

[I]  Tax collection jumps 18% to Rs 7,100 crore in Northeast in FY18: MoS Finance

[I]  India to be shared mobility leader by 2030: Report

[I]  Government may cut stake in state-run companies to 49%

[I]  Government clarifies GST applicability on financial services

[I]  Govt relaxes norms for coastal movement of agri, farm products: Nitin Gadkari

 

BUSINESS STANDARD

[I]  Bumpy road ahead for carmakers as retail demand turns sluggish

[I]  Subpar performance: Q4 revenue improves, profit under pressure

[I]  2017 air fares fell 18%, passenger CAGR up 19% in 2018, says Suresh Prabhu

[I]  Farm prices subdued in Q4, rose just 0.4%: CSO

[I]  Free banking services offered to customers not under GST ambit

[I]  From cheating banks to faking identity, Aadhaar frauds peak in 2018: Report

[I]  Farmers protest remains peaceful; vegetable prices soar in urban areas

[I]  Mumbaikars work for 3,315 hours per year, longest in the world: UBS study

 

MARKETS (8:00 am)

[I]  SGX NIFTY Fut: 10726;  USDINR DGCX: 67.1550;  DJIA Mini: 24695;  FTSE 100 Fut: 7717;  NIKKEI 225 Fut: 22458;  EUR-USD: 1.1686; Crude Oil (WTI): 65.86;  Gold (Spot): 1293          

Best Regards, ARBIND

04 Jun 2018