MACRO ECONOMIC NEWS

WISH WE BE BLESSED TO TOUCH PEOPLE’S LIFE IN EVERYTHING WE DO.

Macro Economic News 26 Jun 2018

 

Trade war fears sparked another selloff in U.S. equities. Shares fell the most since April, led lower by technology shares after China and the EU released a joint warning on the consequences of a trade war. Harley-Davidson said it would move production from the U.S. to avoid tariffs. China and the European Union vowed to oppose trade protectionism in an apparent rebuke to the U.S., saying unilateral actions risked pushing the world into a recession. The prospect of an escalating trade war, combined with the fallout from Turkey’s elections, is resurfacing concerns over emerging markets.

 

FINANCIAL TIMES

[I]  Opposition warns of ‘one-man regime’ after Erdogan victory

[I]  End of the road looms for the Philippines’ jeepneys

[I]  EU proves reluctant playmate in Trump’s game of chicken on trade

[I]  Austria to push hardline migration policy in EU presidency 

[I]  Turkey’s Erdogan fulfils dream with executive presidency

[I]  Leading Iranian reformer warns of crisis unless republic acts

[I]  Banks’ plans for hard Brexit are ‘inadequate’, says EU watchdog

[I]  Salvini bolstered by Italian municipal election victories 

[I]  EU imposes sanctions on Myanmar officers over Rohingya offensive

[I]  Japan plutonium stockpile fuels US unease

 

REUTERS

[I]  Trump officials send mixed signals on China investment curbs, markets sink

[I]  Rebound in South powers U.S. new home sales, dampens prices

[I]  White House press secretary responds to controversy over restaurant ouster

[I]  Britain to toughen outsourcer contracts after Carillion collapse

[I]  EU summit to focus on lowering Mediterranean immigration

[I]  China to pursue more trade with France, EU raises 'difficult issues'

[I]  U.S. plans limits on Chinese investment in U.S. technology firms

[I]  Europe to retaliate if U.S. imposes auto tariffs - France

 

BLOOMBERG 

[I]  Chinese Stocks Poised to Enter Bear Market

[I]  Recession Risk, Emergency China Law, Taxes Trump Trade: Eco Day

[I]  Africa Now Dominates OPEC

[I]  China Begins to Question Whether It’s Ready for a Trade War

[I]  The Trade War Has Sent the Yield Curve to Its Flattest Since 2007

[I]  Irish Banks Are Poised to Face Increased Capital Demand

 

WALL STREET JOURNAL

[I]  New Home Sales Surge on Rising Purchases in the South

[I]  Short of Workers, Restaurants Turn to Robots

[I]  U.S. Investment Restrictions Won’t Name China, Mnuchin Says

[I]  Earlier: Trump Plans New Curbs on China

[I]  Student-Debt Forgiveness May Be Lighting a Tax-Bomb Fuse

[I]  ECB Official Signals No Debate on Rate Rises Before October 2019

[I]  A Generation of Americans Is Entering Old Age the Least Prepared in Decades

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

 

BUSINESS LINE

[I]  Farmers to pay the price of tariff fight with Trump

[I]  No GST discount on digital payment for now

[I]  Few takers for ambitious electoral bond scheme

[I]  No consensus among States on GST discount for digital payments

[I]  Textiles Ministry seeks more support for garment exporters

[I]  Centre simplifies approval process for additional borrowing by States

[I]  MSME loans: Centre looks to double credit guarantee to Rs. 40,000 crore

[I]  SEBI norms on independent directors for MIIs ‘not in sync’ with Companies Act

 

ECONOMIC TIMES

[I]  Heavy rain lashes Mumbai; 4 dead in 24 hours

[I]  WhatsApp struggles with hate messages in India

[I]  Is it illegal to give lift to a stranger in India?

[I]  $90 bn reason why Saudis are letting women drive

[I]  Women directors at family firms face 'competence versus kinship' challenge

[I]  Government extends ban on import of milk products from China for 6 months

[I]  India Inc's foreign direct investment dips 63% to $1.17 billion in May

[I]  Companies get tax notices for passing off cash balance as transition credit

[I]  Government-appointed panel to suggest employment-based sops for SEZ

[I]  Government plans to set up regulator for skills training

 

BUSINESS STANDARD

[I]  Motorcycles outpace scooters after 8 years; sales grow at 22% in 2018

[I]  State to launch company to promote rubber products

[I]  Indian companies ask govt to restrict Chinese aluminium imports

[I]  Lower threshold for 'beneficial owners'; new rules take effect from June 30

[I]  India needs $4.5 trillion infra spending over next decade: FM Piyush Goyal

[I]  New norms for outward remittance of money narrow definition of 'relative'

 

MARKETS (8:30 am)

[I]  SGX NIFTY Fut: 10709;  USDINR DGCX: 68.1150;  DJIA Mini: 24274;  FTSE 100 Fut: 7447;  NIKKEI 225 Fut: 22221;  EUR-USD: 1.1717; Crude Oil (WTI): 68.22;  Gold (Spot): 1264          

Best Regards, ARBIND

26 Jun 2018