MACRO ECONOMIC NEWS

WISH HAPPINESS EXPANDS AND TOUCHES EVERYONE’S LIFE

Macro Economic News 07 Jun 2018

 

India surprises to join EM peers including Indonesia, Turkey and Argentina in raising interest rates. The G-7 summit is set to kick off amid a `family quarrel,’ and the S&P 500 is nearing record territory once again. China’s banks have managed to sidestep the severest curbs on their  shadow banking activity. NCDs issued by banks grew by 1.5 trillion yuan ($235 billion) in 2017, offsetting the 1.3 trillion yuan decline in interbank borrowing, according to UBS.

 

FINANCIAL TIMES

[I]  Markets hit as ECB officials strike upbeat note

[I]  Bank cartel charges underline Australia’s get-tough approach

[I]  South Korea warned of more cyber attacks ahead of summit

[I]  Trade war talk drives down cross-border investment

[I]  EU urges US to make exemptions from Iran sanctions

[I]  India raises interest rates for first time since 2014

[I]  EU telecoms overhaul labelled ‘missed opportunity’ by industry

 

REUTERS

[I]  RBI raises key policy rate, maintains 'neutral' stance

[I]  RBI says it will remain cautious to manage growth, inflation

[I]  India unveils measures to help sugar mills, woo farmers

[I]  Singapore to restrict airspace during U.S.-North Korea summit

[I]  Republicans in tight U.S. House races feel heat from Mexican tariffs

[I]  Euro recovers on rising bets ECB may roll back stimulus

[I]  China allows domestic fundraising for overseas-listed firms

[I]  Singapore's 'orchid diplomacy'

[I]  Merkel expects difficult G7, will seek out Trump for talks

[I]  Exclusive: Jordan to push IMF to slow reforms after protests, officials say

 

BLOOMBERG 

[I]  China Publishes Final Rules for Big Tech Listings Trial Program

[I]  Malaysian Governor Departure Adds Uncertainty to Economy in Flux

[I]  Foreigners Are Snapping Up New Zealand Homes While They Can

[I]  Third of China's Vehicle Makers Risk Extinction, BAIC's Xu Says

[I]  China's Oil Purchases From U.S. Double Amid $25 Billion Goal

[I]  Trade War Yanked $1.25 Trillion From U.S. Stocks, JPMorgan Says

[I]  El-Erian Warns Brazil May Be Next Emerging-Market Domino to Fall

[I]  China Banks Have Yet to Feel the Worst of Deleveraging Pain, UBS Says

[I]  Here's Why Australia's U.S.-Beating Jobs Growth Is Falling Flat

[I]  Foreigners Are Snapping Up New Zealand Homes While They Can

 

WALL STREET JOURNAL

[I]  A Costly, Deadly Obsession With Coal

[I]  American Job Openings Now Outnumber the Jobless

[I]  Record Oil Exports Help Cut U.S. Trade Gap

[I]  Canada’s Trade Deficit Narrowed In April

[I]  U.S. Productivity Rose Less Than Expected in First Quarter

[I]  NATO Allies Bristle Over U.S. Tariffs Pinned to Security Threats

[I]  Mexico, Canada Add to Nations Striking Fear in U.S. Farmers

[I]  ECB Official Indicates Next Meeting Is Key to Bond-Buying Decision

[I]  Western Cities Want to Slow Flood of Chinese Home Buying. Nothing Works.

[I]  Social Security Expected to Dip Into Its Reserves This Year

 

BUSINESS LINE

[I]  Growth, inflation outlook prompts 25-bps repo rate hike, first in 4 years

[I]  Fast-track promotions, higher pay in offing for ‘star’ PSU staff

[I]  RBI to open payment space to more players

[I]  Cabinet clears norms for quick closure of sick PSUs

[I]  Centre undecided on inviting bids for Round 3 of UDAN

[I]  India Inc using social media for better customer-connect

[I]  Daily fuel pricing: No question of going back, says Pradhan

[I]  50% of start-ups coming from tier II, III cities: Modi

[I]  Mango exports may halve on climate, insect woes

[I]  Depression brewing in Bay to drive monsoon into peak phase

[I]  RBI initiates work on public credit registry

 

ECONOMIC TIMES

[I]  What is RBI's reading of composition shift in inflation?

[I]  Three Indian cities among top 10 for GDP risk from terrorism: Lloyd's India's City Risk Index

[I]  World Bank forecasts 7.3 per cent growth for India; making it fastest growing economy

[I]  RBI cites rising crude as risk to inflation, hikes projection for FY19

[I]  From cabbages to oil, inflation has many fathers

[I]  Few big players dominating digital payments is a risk, warns RBI

[I]  Government promulgates IBC ordinance; home buyers to be treated as financial creditors

[I]  Government clears revised norms for time-bound closure of sick PSUs

[I]  US tax reforms may impact Indian business groups

 

BUSINESS STANDARD

[I]  MCA quizzes auditors who quit assignments; explanations sought in 15 cases

[I]  Even one homebuyer can now drag errant builder to NCLT: Govt ordinance

[I]  RBI policy review: Investment recovery positive, headwinds remain

[I]  Retrospective benefits on gratuity not on the cards, says NDA govt

[I]  No rollback of decontrol in diesel and petrol pricing: Dharmendra Pradhan

[I]  FDI inflows to India decline by $4 bn in 2017: World Investment Report

[I]  RBI monetary policy review: States may need to get their loans rated

 

MARKETS (8:30 am)

[I]  SGX NIFTY Fut: 10738;  USDINR DGCX: 67.0150;  DJIA Mini: 25174;  FTSE 100 Fut: 7733;  NIKKEI 225 Fut: 22840;  EUR-USD: 1.1791; Crude Oil (WTI): 65.00;  Gold (Spot): 1297          

Best Regards, ARBIND

07 Jun 2018