MACRO ECONOMIC NEWS

WISHING A DAY WITH COURAGE AND SELF BELEIF. GOOD MORNING.

Macro Economic News 26 Jul 2018

Investors breathe a sigh of relief as the U.S. and Europe step back from the brink of a trade war, while Chinese President Xi calls on developing nations to renounce protectionism. President Trump declared a “new phase” in the relationship between the U.S. and the European Union, agreeing to hold off on proposed car tariffs and work with the EU to resolve their dispute over metals duties. India will remain the fastest-growing major economy this year supported by increased government spending ahead of next year's general election, but rising oil prices pose the biggest downside risk, a Reuters poll of economists showed. Purchases of new homes slipped 5.3% from May to the slowest pace in eight months, the latest sign that the housing market is cooling.

 

FINANCIAL TIMES

[I]  Zimbabweans hope historic election will trigger economic revival

[I]  EU court rebukes Poland in landmark extradition ruling

[I]  EU struggles to counter US sanctions on Iran

[I]  US airlines cave in to pressure from China over Taiwan

[I]  Saudis suspend Red Sea oil shipments after tanker attacks

[I]  Executive pay rows show that governance matters

[I]  Europe should offer Theresa May’s Brexit plan a helping hand

 

REUTERS

[I]  India to hold top spot for economic growth: poll

[I]  Venezuela to remove five zeroes from ailing currency

[I]  Trump eases car tariff threat as U.S., EU launch talks to quell trade tensions

[I]  German industry warns U.S. auto tariffs not completely off table yet

[I]  South Korea's second-quarter growth slows as capital investment slips, consumption slows

[I]  Global economy has peaked; trade war torpedoes optimism

[I]  ECB to stay on hold but highlight growth risks

 

BLOOMBERG 

[I]  Trump's EU Truce, China Eases Bank Rule, BOJ Bond Anger: Eco Day

[I]  South Korea Economy Maintains Growth Momentum as Exports Hold Up

[I]  U.K. Heat-Related Deaths Set to Triple by 2050, Lawmakers Warn

[I]  PBOC Is Said to Ease Bank Capital Rule to Boost Loan Growth

[I]  Surging Hong Kong Stock Buybacks May Signal Rebound on Horizon

[I]  Trump, Juncker Tout Deal Pulling Back From U.S.-EU Trade War

[I]  Indebted Britons Are Unprepared for Retirement, Lawmakers Warn

[I]  Metals Markets See Zero-Tariff Future on Trump-Juncker Meeting

 

WALL STREET JOURNAL

[I]  U.S., Europeans Agree to Iron Out Trade Differences

[I]  Japan, Germany Team Up on Trade

[I]  Mexico and Canada Are Committed to a Trilateral Nafta Deal

[I]  U.S. New-Home Sales Dropped in June

[I]  There’s No Productivity Miracle Hiding in the Data

[I]  China Targets Economy, Not Trump, With Weaker Yuan

[I]  Chinese Deals Lose Luster for Officials Across the U.S.

[I]  Big Auto Makers Trim Forecasts

[I]  House GOP Unveils Tax Plan Focused on Savings, Retirement

 

BUSINESS LINE

[I]  NCLAT upholds Rs. 6,700-crore penalty on 11 cement firms

[I]  3/5-year term may be made mandatory for motor insurance

[I]  SEBI raps mutual fund trustees over irregularities

[I]  Report on data protection framework likely next month

[I]  Centre to look at more export markets to tackle dairy glut

[I]  Many Indian lenders miss the mark when it comes to online banking: Forrester

 

ECONOMIC TIMES

[I]  Rupee fall could soon make TV, car prices shoot up

[I]  AMC in the works to help PSU banks offload non-core assets

[I]  BRICS emerging economies meet as US trade war looms

[I]  India's cotton exports to increase by 20% in 2017-18; Cotton Advisory Board

[I]  Exports likely to touch $350 billion in FY19, says Suresh Prabhu

[I]  59 mega infra projects report cost overrun of Rs 1.36 lakh crore

[I]  View: Infrastructure ecosystem crucial to maximising economic value

[I]  Tax havens account for highest increase in FDI inflows

[I]  GST slab of 28% may become virtual "hollow shell" in year or so, says CEA

[I]  Nearly 90% of corporate law violations may not go to court

 

BUSINESS STANDARD

[I]  Over 340 'irrational' drugs to go off shelves soon; many more under scanner

[I]  Petroleum definition changed for uniformity in operations: Government

[I]  Local PEs face challenges in raising funds to invest in office properties

[I]  Corporate credit demand gains pace, showing signs of gathering steam

[I]  Macro economy gives confusing signals to MPC on policy rate front

[I]  ED gets power to impound fleeing economic offenders' property

[I]  Anti-dumping duty hike on Indian shrimps by US to have neutral impact

[I]  Centre not to hike insurance cover of Rs 100,000 for bank deposits

[I]  India's digital lending market represents a $1 trillion opportunity

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11175;  USDINR DGCX: 68.6250;  DJIA Mini: 25414;  FTSE 100 Fut: 7610;  NIKKEI 225 Fut: 22593;  EUR-USD: 1.1735; Crude Oil (WTI): 69.47;  Gold (Spot): 1233

Best Regards, ARBIND

26 Jul 2018