MACRO ECONOMIC NEWS

WISHING YOU A DAY TO HAVE POWER OF MAKING SOMEONE HAPPY. GOOD MORNING.

Macro Economic News 08 Aug 2018

Beijing officials make another push to stabilize the yuan. The U.S. slaps tariffs on an additional $16 billion of Chinese goods. The People’s Bank of China urged some lenders to prevent any “herd behavior” and momentum-chasing moves in the currency market, according to people familiar with the matter.

FINANCIAL TIMES

[I]  Turkish bonds and currency under mounting pressure

[I]  Australia debates immigration as population hits record 25m

[I]  European stocks lack the allure of US peers as expectations shift

[I]  Japanese medical school admits rigging exams to favour men

[I]  Saudi Arabia’s furious attack on Canada shocks western allies

[I]  China’s Belt and Road projects drive overseas debt fears

[I]  Germany plans further foreign investment curbs

[I]  China tightens grip on foreign university joint ventures

[I]  European Investment Bank bows to calls for reform

REUTERS

[I]  White House adviser Bolton urges North Korea to act on denuclearisation

[I]  BOJ board disagreed on how much yields can move freely: July meeting summary

[I]  Australia's drought-hit farms like lambs to the slaughter

[I]  UK firms struggle to hire with Brexit, record low jobless rate

[I]  U.S. crude exports to India surge as China intake fades

[I]  India asks telecom operators to find ways to block Facebook, WhatsApp in case of misuse

[I]  U.S. finalises next China tariff list targeting $16 billion in imports

[I]  India doubles import tax on textile products, may hit China

[I]  Trump says firms doing business in Iran to be barred from U.S. as sanctions hit

[I]  Venezuela dodges oil asset seizures with export transfers at sea

BLOOMBERG 

[I]  U.S. to Slap Duties on $16 Billion of China Goods on Aug. 23

[I]  China Is Asking Banks to Avoid Yuan Market ‘Herd Behavior’

[I]  China's Investors Are Being Offered the Cheapest Money in Years

[I]  Funds Turn Bullish on Indonesian Bonds Even as Rupiah Declines

[I]  Stocks Give Trump a $1.3 Trillion Reason to Escalate the Trade War

[I]  Thailand Decision Guide: Laying the Groundwork for a Rate Hike

[I]  Biggest Rate Increase in a Decade on the Cards for Philippines

[I]  SEC Postpones Decision on Bitcoin ETF Listing to September

[I]  As Straw Wars Rage, Wheat Growers Could Be a Surprise Winner

WALL STREET JOURNAL

[I]  Jobs Go Unfilled as the Economy Expands 

[I]  Trump’s Tariffs Turn Small Businesses Upside Down 

[I]  U.S. to Impose Tariffs on $16 Billion More in China Goods

[I]  Trump’s ‘Great Deal’ With South Korea Jeopardized by Car Tariff Dispute 

[I]  Investors Cheer—and Fear—Japan’s Fastest Wage Growth Since 1990s 

[I]  U.S. Hits Iran With Renewed Sanctions 

[I]  What's the Real Goal Behind Trump’s Iran Sanctions?

[I]  A Lifeline in Honduras: Cash From the U.S.

[I]  Bankruptcy Filings Surge Among Older Americans

[I]  Freddie Mac Has a New Plan to Cap Rent Increases

[I]  U.S. Corporate Tax Cuts Likely to Hit Other Countries’ Bottom Lines

BUSINESS LINE

[I]  Import duty on over 300 textile products doubled to 20 per cent

[I]  Widen scope of station revamp to reduce train delays: CAG

[I]  Port workers’ unions against investing pension, PF funds in bonds, equities

[I]  India can be a global leader in valuation

[I]  Trump pressure is showing on China

[I]  With 45% rain deficit, Gujarat thirsts for water

[I]  RBI staff to go on mass casual leave on Sept 5, 6

ECONOMIC TIMES

[I]  Not just NPAs, India's PSBs have much more to deal with

[I]  Family firms up stake over last decade in India: Research

[I]  1.11 crore farmers register on e-NAM to sell produce online: Radha Mohan Singh

[I]  Government expects to save around Rs 10,000 crore on interest payments

[I]  Panel suggests Passport Act amendment to prevent borrowers from fleeing out

BUSINESS STANDARD

[I]  High Court to hear insolvency cases in power sector, says Supreme Court

[I]  Anti-profiteering body turns heat on e-tailers, seeks a pan-Indian audit

[I]  DoT is turning into a legal minefield, saddled with staggering 2,800 cases

[I]  Employment slips 1% aided by low hiring growth by companies: Report

[I]  MCA makes Aadhaar details mandatory, company directors mull legal options

[I]  Foreign portfolio investors raise red flag on KYC rules over privacy

[I]  Traders to keep an eye on Independence Day sales by e-commerce companies

[I]  Trai chief defends open dare, says disclosing Aadhaar is not a digital risk

[I]  Govt issues notices to 272 firms for non-compliance with CSR norms

[I]  RBI likely to launch $30-35 bn NRI bond in Dec quarter to prop rupee up

[I]  Public sector banks drastically cut down on branch expansion in 3 years

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11427;  USDINR DGCX: 68.7850;  DJIA Mini: 25619;  FTSE 100 Fut: 7672;  NIKKEI 225 Fut: 22735;  EUR-USD: 1.1604; Crude Oil (WTI): 69.27;  Gold (Spot): 1213

Best Regards, ARBIND

08 Aug 2018