MACRO ECONOMIC NEWS

REJOICE. LET YOUR GENTLENESS BE KNOWN TO ALL. HAPPY WEEKEND.

Macro Economic News 14 Jul 2018

 

India's trade deficit widened to its highest in more than five years in June, the trade ministry said on Friday, driven largely by a surge in oil prices and a weaker rupee. The Trump administration is assessing whether to dip into the U.S.’s emergency oil stocks while it pushes other countries to boost their output amid rising prices. U.S. trade deficits are matched by an inflow of foreign investment. Greg Ip says that isn't necessarily good: some foreign investment is more desirable than others.

 

FINANCIAL TIMES

[I]  Trump switches tack on Brexit in bid to repair ties

[I]  Brexit chaos puts Conservatives on the edge of a breakdown

[I]  Trump’s trade war rattles Republicans in an election year

[I]  Russia meddles in Greek town to push back the west

[I]  Russia ready to invest $50bn in Iran’s energy industry

[I]  French banks win savings account case against ECB

[I]  Activists can keep check while CEOs build sandcastles

[I]  Cyber security threats stir competition among UK tech groups

[I]  Data impel economists to leave their armchairs at last

 

REUTERS

[I]  India's trade deficit widens to more than five-year high

[I]  India's social media monitoring plan worries Supreme Court

[I]  China floods wreak havoc, block roads and railways; more rain due

[I]  Chinese imports to U.S. ports start peaking amid tariff threat

[I]  China's trade surplus with U.S. hits record as exporters rush to beat tariffs

[I]  China fiscal policy has 'ample room' to support economy: c.bank research head

[I]  Fed's escape from crisis holdings could hit dead end

 

BLOOMBERG 

[I]  Hedge Funds Curb Bets on Rising Oil Price Just as Rally Falters

[I]  Never Mind the VIX, Anxiety Is Everywhere in U.S. Stock Market

[I]  Emerging-Market Stocks Rebound as Trade Tension Eases: EM Review

[I]  Turkey Cut Deeper Into Junk by Fitch Citing Risks to Stability

[I]  Trump Considers Tapping U.S. Oil Reserve as Prices at the Pump Rise

[I]  Bitcoin Was Russian Hackers' Currency of Choice, U.S. Says

[I]  Trade War Sends Commodities to Biggest Drop in 5 Months

[I]  Trump's Tax Plan Has Investors Chasing Dividends Through ETFs

[I]  Oil Explorers in U.S. Heartland Need $69 Crude to Boost Drilling

 

WALL STREET JOURNAL

[I]  U.S. and Allies Consider Possible Oil-Reserve Release

[I]  The Wrong Way to Defend Trade Deficits

[I]  Trump’s Criticism of May’s Brexit Plan Zeroes In on Trade Reality

[I]  Federal Reserve Report Defends Use of New Tools to Set Interest Rates

[I]  Economists Think Unemployment Is Headed to a 50-Year Low

[I]  Real Time Economics: Inflation Is Gobbling Up Worker Wages

[I]  Fed Chair Jerome Powell Says Trade Policies Complicate Outlook

[I]  U.S. Consumer Sentiment Dips Due to Tariff Concerns

 

BUSINESS LINE

[I]  Banks pare student-loan exposure

[I]  DRI unearths Rs. 3,000-cr diamond import scam

[I]  Indians are stressed out by work, finance situation

[I]  June exports up 17.57%; trade deficit widens on import surge

[I]  India looking to take advantage of China’s retaliatory tariff on US goods

[I]  Significant Economic Presence: CBDT invites suggestions on ‘revenue/user’ cap for NRIs

[I]  Kharif sowing gathers pace, but still down 10% over last year

[I]  Rising inflation, fiscal deficit may force RBI to hike rate by 50 bps

[I]  FDI inflow slowest in past two years: Care

 

ECONOMIC TIMES

[I]  India defies US, sticks to Russia missile deal

[I]  Opec+ may further boost crude oil supply, says Russia

[I]  Forex reserve dips by $248.20 million to $405.81 billion

[I]  RBI raises red flag on states' fiscal deficit, farm-loan waivers

[I]  Government extends duty benefits for exports of certain dairy, agri products

[I]  India-Afghanistan trade likely to reach $2 bn by 2020: Afghan Ambassador

[I]  Multi-pronged action plan to boost infrastructure in ports

[I]  I-T dept seeks views on significant economic presence for taxing NRIs

[I]  No GST on foreign companies' payments to liaison offices for expenses: AAR

[I]  Surging housing costs may prompt India to raise rates again

[I]  India needs more private banks and only 3-5 PSU banks: Arvind Subramanian

[I]  Australia releases India economic strategy, aims to give big push to bilateral trade

 

BUSINESS STANDARD

[I]  India's trade deficit widens to five-year high in June; exports up 17.57%

[I]  Why corporate India needs to focus on mental health of its employees

[I]  Buoyed by lower import duties, Chilean fruit exporters eyeing Indian market

[I]  India-US 2+2 dialogue in September; MEA yet to confirm invite to Trump

[I]  India can overtake UK to become 5th largest economy by 2019: Arun Jaitley

[I]  Kharif sowing picks up but is still about 10% lower than last year

[I]  It's like creating surveillance state: SC on govt plan to monitor WhatsApp

 

Best Regards, ARBIND

14 Jul 2018