MACRO ECONOMIC NEWS

FRESH BE THE ASSURANCE TO FLY WITH GRACE. GOOD MORNING.

Macro Economic News 12 Jul 2018

 

The finance ministry has proposed relaxing a directive from the Reserve Bank of India that would compel global payment firms to store customer data only locally, following weeks of intense lobbying by U.S. companies and trade bodies. A proposal from Prime Minister Theresa May to keep the U.K. closely tied to European Union product regulations and customs arrangements follows warnings from businesses about what they see as the risks to their carefully calibrated “just-in-time” supply chains. The Trump administration is expanding the battlefield in its trade fight with China, moving beyond industrial goods to threaten tariffs for the first time on consumer products.

 

FINANCIAL TIMES

[I]  Trump presses Nato allies to lift defence spending to 4% of GDP

[I]  Ex-Cambridge Analytica staff launch venture using same techniques

[I]  Malaysia resets China ties over ‘lopsided’ deals

[I]  Upturn in global debt to pile pressure on emerging markets

[I]  Escalating trade war shakes investors

[I]  China switches strategy to deal with Trump tariffs

[I]  Malta accused of failing to enforce EU money-laundering rules

[I]  Thailand cave rescue unites a nation and grips the world

[I]  European Investment Bank wants UK to remain a member

 

REUTERS

[I]  India proposes easing local data storage rules for foreign payment firms

[I]  China vows to hit back over U.S. proposal for fresh tariffs

[I]  India cuts Iranian oil imports in June ahead of U.S. sanctions

[I]  U.S. says the 'reckoning' over China trade is too big for WTO

[I]  China vows to hit back over U.S. proposal for fresh tariffs

[I]  OPEC does not want to see volatility in oil prices - OPEC president

[I]  Bank of Korea holds rates, weak job growth puts policymakers in a bind

[I]  After Trump's spending demands, NATO summit turns to Afghanistan

[I]  Trade and tea with queen for Trump in a Britain in "turmoil"

[I]  Setting out vision for future ties, Britain's May presses Brexit plans

[I]  China's June exports seen solid as trade war with U.S. heats up: Reuters poll

[I]  EU watchdog criticises Malta for anti-money laundering shortcomings

 

BLOOMBERG 

[I]  U.K. Seeks to Strike Trade Deals for Services in New Brexit Plan

[I]  Carney's Rapport With Traders Tested as Bets Build on BOE Hike

[I]  Electric Vehicle Surge Poised to Test U.K. Grid for Decades

[I]  U.S.-China Trade Talks Grind to a Halt

[I]  Bank of Korea Decision-Day Guide: View on Economy in Focus

[I]  Run-Up to U.S. Recession May Be Good Time for Emerging Markets

[I]  Trade War Kills Currency Volatility, Leaves Analysts Flummoxed

[I]  London House Prices Extend Decline as Demand for Property Wanes

[I]  Thailand Says Brexit Could Be Positive for Trade With the U.K.

 

WALL STREET JOURNAL

[I]  Average Gas Price Nears $3 a Gallon, Raising Worries for U.S. Economy

[I]  World Bank Rankings Weren’t Manipulated, Audit Shows

[I]  May’s Brexit Plan Comes Just in Time for Supply Chains

[I]  This Time Around, Chinese Consumer Products Would Face Tariffs

[I]  China Seeks Ways to Retaliate After U.S. Plans New Tariffs

[I]  U.S. Warehouse Supply at Its Tightest in Two Decades

[I]  Rising Transportation Costs Help Drive Up U.S. Business Prices

[I]  U.S. Treasury Issues Final Regulations on Inversion Transactions

[I]  Economy Brings Fed Along On Rate Rises

 

BUSINESS LINE

[I]  SEBI may require firms to raise 25% of financing needs from bond market

[I]  Private equity, VC investments cross $15 b in H1

[I]  GST Council meet may consider lower tax on sanitary napkins

[I]  India, US to intensify efforts to settle trade differences at meeting next week

[I]  Dumping duty on select polyester yarn from China

[I]  IT vendors ‘patently’ sharpening focus on developing newer technologies

[I]  ‘Need to promote food processing industry to help farmers’

[I]  Lending to infrastructure sector saw negative growth in the last two fiscals

[I]  MSMEs seeks alternative sources of finance

 

ECONOMIC TIMES

[I]  Opec warns of trade war 'risks' for oil market

[I]  Opec sees lower 2019 demand for crude oil, points to surplus returning

[I]  Sebi plans consultation paper on secondary bond market: Tyagi

[I]  Panel shuns sugar cess proposal to clear sugarcane dues

[I]  'Aadhaar-enabled DBT savings estimated over Rs 90,000 crore'

[I]  Mumbai Trans Harbour Link to be ready by 2022: Japanese diplomat

[I]  Niti Aayog proposes 15-point action plan to deal with air pollution

[I]  Income Tax department focuses on reducing litigation

[I]  Ease of doing biz ranking: Gujarat to seek clarification from DIPP

 

BUSINESS STANDARD

[I]  Sebi-appointed panel considers 'Snapchat model' to boost start-up listings

[I]  Telecom Commission approves new telecom policy, backs net neutrality

[I]  Litigation management: Govt hikes monetary limits for tax appeals

[I]  GST ministerial panel against sugar cess to compensate cane farmers

[I]  Replace old vehicles, adopt electric vehicles: NITI Aayog

[I]  Global debt hits a new record at $247 trn, $29 trn higher than end of 2016

[I]  Start reducing oil prices or expect demand to sink, India warns OPEC

[I]  May outward remittances just shy of $1 bn, up from $847 in year-ago period

[I]  India's oil imports from Iran fall over 15% in June amid US sanctions fears

[I]  Lost battle over use of oil windfall to fiscal hawks: Arvind Subramanian

[I]  How the Indian sugar industry is creating a not-so-sweet trap for itself

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10980;  USDINR DGCX: 69.0175;  DJIA Mini: 24783;  FTSE 100 Fut: 7551;  NIKKEI 225 Fut: 22174;  EUR-USD: 1.1674; Crude Oil (WTI): 70.79;  Gold (Spot): 1243          

Best Regards, ARBIND

12 Jul 2018