MACRO ECONOMIC NEWS

WISHING YOU THE EASY TRANSFORMATION. EVERY NEXT LEVEL OF YOUR LIFE WILL DEMAND A DIFFERENT YOU. GOOD MORNING.

Macro Economic News 21 Aug 2018

 

The Trump administration is moving closer this week to levying tariffs on nearly half of Chinese imports despite broad opposition from U.S. business and the start of a fresh round of bilateral talks. Federal Reserve officials are now beginning an internal debate to decide what exactly the central bank’s $4.5 trillion portfolio will look like when they are done shrinking it. Elvira Nabiullina has earned an unusual degree of freedom to clean up Russia’s messy banking system and stabilize its economy against volatile markets and looming sanctions.

 

FINANCIAL TIMES

[I]  Venezuela lops five zeros off the bolívar to halt economic collapse

[I]  Qatar agrees $3bn currency swap with Turkey

[I]  Too close for comfort: the incestuous ties that bind auditors and watchdogs

[I]  Eurozone hails Greece’s exit from bailout as end of crisis

[I]  Germany on course for world’s largest current account surplus

[I]  Inquiry into South African state looting finally gets under way

[I]  US banks tap the brakes on consumer credit

[I]  China ecommerce boom fires up logistics sector

[I]  Europe risks failure on migration

 

REUTERS

[I]  Talks with India the way forward, says Pakistan's new foreign minister

[I]  Independent committee to decide fate of Vedanta copper smelter in India

[I]  Pest attack, scanty rains to dent India cotton exports: trade body head

[I]  Instant View: Trump takes Fed to task for rate hikes in Reuters interview

[I]  Australian prime minister clings to power after winning leadership contest

[I]  Oil mixed on tighter U.S. outlook, while U.S.-China trade spat weighs

[I]  Australia's economy set fair, drought a danger: central bank

[I]  North Korea's Kim criticises his country's health sector

[I]  China banks set for modest profit growth as bad loan outlook under cloud

 

BLOOMBERG 

[I]  Israel's Finance Minister Aims to Improve Palestinian Economy

[I]  Greek Bad Loans Are a Drag Even After Crisis Shrank Bank Sector

[I]  RBA Says Stronger U.S. Growth, Lower Aussie Could Boost Economy

[I]  U.S. Sanctions Bring Stress to Already Battered Emerging Markets

[I]  Trump Accuses China, EU of Currency Manipulation

[I]  RBA Says Stronger U.S. Growth, Lower Aussie Could Boost Economy

[I]  Indian Firms May Find Loans Abroad Costlier as Easy Money Ends

 

WALL STREET JOURNAL

[I]  U.S. Moves Toward New Tariffs on China Despite Trade Talks

[I]  At Heart of New Fed Debate: Bonds or Bills?

[I]  U.S. Bonds Rise As Turkey Concerns Intensify

[I]  Putin’s Unlikely Ally in His Standoff With the West: His Central Banker

[I]  Fewer Americans Move for New Jobs

[I]  A Surprising Bulwark for the U.S. Economy: Personal Savings

[I]  Greece’s Bailout Ends, but Austerity and Anger Prevail

[I]  Trade Fears Throw Future of U.S. Natural Gas Into Question

BUSINESS LINE

[I]  Govt mulls duty-free import of capital goods to skirt WTO

[I]  IBC wins against taxman, yet again

[I]  Kerala floods declared calamity of ‘severe nature’

[I]  Rupee’s fall won’t hurt India’s sovereign rating much, says Fitch

[I]  I-T Dept proposes e-processing to issue certificate for nil/lower withholding tax

[I]  GDP back series strengthens case for more structural reforms

[I]  Global gold-price softening trend to last for months, not years: WGC

[I]  Why raising $100 million is no more a big deal for start-ups

 

ECONOMIC TIMES

[I]  Venezuela launches history's greatest forex devaluation

[I]  Turkey’s rating cut deeper into junk

[I]  Argentina lacks tools to defend peso

[I]  Dollar dips on trade optimism, US-China talks awaited

[I]  Farmers still unaware of details of PMFBY: Survey

[I]  Restating the past: The back series of GDP

[I]  India needs strong wage policies to promote inclusive growth: International Labour Organisation

 

BUSINESS STANDARD

[I]  Sebi mulls hiking minimum ticket size for investment in PMS schemes

[I]  IITs, Prakash Javadekar veto HRD ministry's proposal to scrap JEE-Advanced

[I]  MCA probes Jet Airways on suspicion of siphoning funds: Sources

[I]  High values of stressed steel assets reflect uncertainty over greenfield

[I]  Uncertainty ahead? Coal importers keep close watch on events abroad

[I]  Global e-commerce firms look to buy domestic retailers to up India game

[I]  Carmakers in India see higher sales but fewer customers at showrooms

[I]  Staring at uncertainty, India's solar industry searches for a ray of hope

 

MARKETS (8:30 am)

[I]  SGX NIFTY Fut: 11587  USDINR DGCX: 69.9100;  DJIA Mini: 25776;  FTSE 100 Fut: 7566;  NIKKEI 225 Fut: 22192;  EUR-USD: 1.1520; Crude Oil (WTI): 66.60;  Gold (Spot): 1194

Best Regards, ARBIND

21 Aug 2018