MACRO ECONOMIC NEWS

MAY THIS DAY DEEPEN THE SPIRIT OF COMPASSION AND BROTHERHOOD. GOOD MORNING.

Macro Economic News 22 Aug 2018

 

The Trump administration is likely pushing back its timetable for imposing tariffs on auto imports, easing concerns of many in the auto industry who have widely opposed the duties. The Trump administration imposed new sanctions against Russia, escalating U.S. diplomatic pressure on Moscow as the White House tries to fend off a push by lawmakers to deploy even-more-potent tools to cripple the Russian economy. Trump told donors he is unhappy with the Federal Reserve’s recent interest-rate increases and raised doubts about the man he placed in charge of the institution.

 

FINANCIAL TIMES

[I]  S&P 500 hits new high on way to record bull run

[I]  US and China to attempt revival of trade negotiations

[I]  Australia gripped by political leadership battles

[I]  El Salvador cuts diplomatic ties with Taiwan for China

[I]  Tsipras warns of fresh battles after bailout ends

[I]  Ireland’s banking sector steps up drive to sell soured loans

[I]  British Steel owners on hunt for acquisitions

 

REUTERS

[I]  Flood-ravaged Kerala seeks at least 100 billion rupees

[I]  India's small renewables firms fighting consolidation wave

[I]  Japan central bank may dial back stimulus before price goal met: ex-BOJ Ishida

[I]  NASA chief excited about prospects for exploiting water on the moon

[I]  Mexico's new government wants fintech, banks to help financial inclusion

[I]  Chile's Pinera promises to spur investment with tax reform

[I]  Banks should not assume fraud victims are at fault - UK watchdog says

[I]  Global trade war to hold back modest euro zone growth: Reuters poll

 

BLOOMBERG 

[I]  Greek Progress on Privatizations Seen as Key to Post-Bailout Era

[I]  Trump Says China No Longer on Quick Path to Be Bigger Than U.S.

[I]  China GDP to Suffer If Trump Fires New Tariffs, Economists Say

[I]  Demand for Junk-Bond ETF Signals Strong Investor Appetite for Risk

[I]  No Quant Is Safe as Global Stress Hits Risk Parity Where It Hurts

[I]  What's Next in the Trade War? Key U.S.-China Events to Watch For

[I]  The Longest Market Rally in History? Take a Closer Look

[I]  How Bitcoin's Crash Compares to History's Biggest Bubbles

[I]  America's Booming Economy Comes With a Cost for Global Growth

[I]  BOJ's Threat to Global Bonds Fizzles as Japan Insurers Stay Put

 

WALL STREET JOURNAL

[I]  Trump Auto Tariff Timetable Likely to Slip

[I]  Stocks Set to Enter Longest Bull Market as S&P Hits Record

[I]  Fed’s Kaplan Still Favors Gradual Path of Rate Increases

[I]  U.S. Widens Russia Sanctions Amid Calls They Don’t Go Far Enough

[I]  Trump Complained About Fed Rate Increases at Fundraiser

[I]  Mexico’s President-Elect Balks at Including Energy in New NAFTA

 

BUSINESS LINE

[I]  India looks to keep Iran oil lines open in face of US sanctions

[I]  Kerala wants loan caps enhanced to raise Rs. 10,500 cr

[I]  Escorts will plough deeper into agri sector

[I]  India hopes ‘2+2 dialogue’ with US will clear the air on Iran oil imports

[I]  ‘Successful businessmen must invest time, money in start-ups’

[I]  Growth in bank lending to corporates sustains in Q1

 

ECONOMIC TIMES

[I]  Indians have been hiding less money in tax havens abroad

[I]  Sebi extends deadline for FPIs to provide list of beneficial owners

[I]  Iran a thorny issue as India, US ready for key September talks

[I]  As ministries argue, draft ecommerce policy lands with PMO

[I]  Kerala mulling 10% cess on GST, introduction of special lottery

[I]  Government extends deadline for filing July GSTR-3B till Aug 24

[I]  Tax dept allots 1.96 crore PAN in January-March 2018 quarter

[I]  Trade deficit greater concern than rupee, says Niti Aayog

 

BUSINESS STANDARD

[I]  40% firms failing to file returns under MCA lens, may get deregistered

[I]  Risk of cyber attacks will grow as firms go digital, say experts

[I]  Banks look to artificial intelligence for risk management operations

[I]  Credit Bureaus may soon be allowed access to data from utility providers

[I]  Govt admits rupee, crude prices will impact current account deficit

[I]  CII plans to launch a new index to judge the quality of fiscal deficit

[I]  Govt's capital support for PSBs only enough for regulatory norms: Moody's

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 11593;  USDINR DGCX: 69.8950;  DJIA Mini: 25760;  FTSE 100 Fut: 7540;  NIKKEI 225 Fut: 22360;  EUR-USD: 1.1572; Crude Oil (WTI): 66.14;  Gold (Spot): 1195

 

Best Regards, ARBIND

22 Aug 2018