MACRO ECONOMIC NEWS

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Macro Economic News 25 Sep 2018

The Trump administration is turning to allies in Asia and Europe for trade deals as U.S. relations with China deteriorate and the world’s two largest economies exchange tit-for-tat tariffs that risk damaging global commerce. Chinese imports exempted from the U.S.’s initial tariff hit-list show how China has become an outsize global producer of relatively obscure industrial commodities—on which American industry has become reliant. The economic outlook among chief executives of America’s largest companies cooled slightly in the third quarter, as confrontational U.S. trade policies weighed on planning for capital spending and hiring.

 

FINANCIAL TIMES

[I]  North American dealmaking leaves M&A at record high

[I]  Oil climbs to 4-year high above $81 a barrel

[I]  Weight Watchers slims down its name to focus on health

[I]  Trade war casts shadow over tech manufacturers

[I]  Angela Merkel contrite as spy chief furore casts pall over tenure

[I]  France plans budget to cut taxes and rein in spending

[I]  French supermarkets at odds over claims of merger

 

REUTERS

[I]  As traders see oil at $100, India mulls importing less

[I]  India struggles to soothe markets as liquidity concerns grow

[I]  Monsoon rainfall drops further, endangering summer crops

[I]  Oil firm as OPEC, Russia resist calls to raise output as Iran sanctions loom

[I]  World's wealthiest eye more private equity after bumper 2017

[I]  China to set up local government debt monitoring system: China Daily

[I]  India announces government bond purchases amid market turmoil

[I]  Oil firm as OPEC, Russia resist calls to raise output as Iran sanctions loom

[I]  Germany on track for solid growth as business morale holds steady

 

BLOOMBERG 

[I]  Ultra-Wealthy Asian Families’ Love of Emerging Markets May Prove Painful

[I]  Fed Hawkish Tilt, Trump's Trade Leverage, EU Inflation: Eco Day

[I]  Economists Ask If Draghi Is Considering 2019 Rate Hikes

[I]  Nigeria’s Cocoa Crop Shows High Mold Levels

[I]  New U.S.-South Korea Pact Spurs Hopes for Nafta, China Deals

[I]  Jamie Dimon Says It Will Take 25 Years for Bailouts to Be Forgiven

[I]  The Strong Dollar Is Driving Profits for U.S.-Focused Companies

 

WALL STREET JOURNAL

[I]  Trump Pursues Trade Deals in Asia, Europe Amid Frostiness With China

[I]  U.S. Reliance on Obscure Imports From China Points to Vulnerability

[I]  CEOs’ Economic Outlook Eases on Trade Policy Uncertainty

[I]  Low Unemployment, Slow Wage Growth Bring Renewed Labor Strife

[I]  Global Economy Week Ahead: Fed Policy Statement, GDP Estimate and Other Data

[I]  Vote Set for Plan to Double U.S. Development Funds

[I]  Struggling U.S. Farmers Worry About a Resurgent Russia

[I]  Real Time Economics: U.S. and China Impose Tariffs, Put Off Talks

 

BUSINESS LINE

[I]  Estimates panel quizzes PMO on Rajan’s report

[I]  US, China begin imposing tariffs

[I]  Deadline for filing I-T returns, audit reports extended to Oct 15

[I]  Energy savings exceeds 30% of target under PAT scheme: Minister

[I]  E-tailers bring loyalty programmes to town

[I]  Domestic airlines carry 17% more passengers in August

[I]  Investors to get information on market in easy-to-use format

[I]  Centre’s measures to boost capital inflows may slow rupee depreciation: Moody’s

 

ECONOMIC TIMES

[I]  Govt finalises list of commodities for import curbs, gold to be spared: Reports

[I]  US shale oil to steal market share until 2020: Opec

[I]  RBI to conduct OMO to infuse liquidity

[I]  Heavy rains hit paddy, cotton crops hard

[I]  RBI study hints a rate hike in the next policy meet

[I]  Currency in circulation slows down since May on spike in crude, RBI selling dollars: Report

[I]  India-South Asia trade has potential to triple to $62 billion, says World Bank

[I]  Revival of 45 bankrupt companies will meet 50% of lenders' claims: IBBI Chairperson

 

BUSINESS STANDARD

[I]  Indian aviation scores low in safety globally, falls short on 5 key counts

[I]  In 6 months, 41% of NBFC debt papers due for refinancing: Credit Suisse

[I]  Two-wheeler makers and suppliers face labour issue near Chennai

[I]  Maharashtra, Tamil Nadu and Karnataka form 40% of total retail loans: CIBIL

[I]  Direct taxes code draft law is likely to seek less power for the taxman

[I]  Rains in North India lead to 'lodging' in paddy fields, may impact yield

[I]  Govt plans to double edible oil production by 2022 to cut import dependence

[I]  India's trade with neighbours only 31% of total potential: World Bank

 

MARKETS (08:15 am)

[I]  SGX NIFTY Fut: 10995;  USDINR DGCX: 72.9225;  DJIA Mini: 26603;  FTSE 100 Fut: 7410;  NIKKEI 225 Fut: 23904;  EUR-USD: 1.1738; Crude Oil (WTI): 72.19;  Gold (Spot): 1198

 

Best Regards, ARBIND

25 Sep 2018