MACRO ECONOMIC NEWS

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Macro Economic News 23 Oct 2018

 

U.S. steelmakers prevailed in their push for the Trump administration to impose tariffs on imported steel and aluminum. The industry also succeeded in a later effort to make some tariffs disappear. U.S. and European trade negotiators are focused on aligning regulations on goods and services as they seek to cement a July trade cease-fire between President Trump and European Commission President Jean-Claude Juncker.

 

FINANCIAL TIMES

[I]  Italy tells EU it will stand firm on budget plan

[I]  Germany halts arms exports to Saudi Arabia after Khashoggi’s death

[I]  Argentina’s central bank chief warns on market outlook

[I]  Frontrunner for EU bank watchdog job faces parliament grilling

[I]  UK peer-to-peer lender asks regulator for help

[I]  North Sea new investments reach three-year high

[I]  Britain must strive for a cooler political climate

 

REUTERS

[I]  Mexico's next president vows security for banks in Santander meeting

[I]  Oil steady as Saudi Arabia pledges to play 'responsible role' in market

[I]  Trump threatens to cut Central America aid over migrant caravan

[I]  Trump says transgender policy seeks to 'protect the country'

[I]  Trump threatens to build up U.S. nuclear arsenal against China, Russia

[I]  Russia pledges 'balance' if U.S. quits nuclear pact; Trump eyes more weapons

[I]  Japan, India negotiating military logistics pact in tightening of ties

[I]  Italy tells EU no change to budget, but will keep eye on debt, deficit

[I]  German growth could rebound after weak third-quarter: Bundesbank

 

BLOOMBERG 

[I]  Italy May Force the EU to Issue an Unprecedented Budget Rebuke

[I]  China's Central Bank to Offer More Funds for Private Firms

[I]  U.S. Growth Engine Looks Able to Power Past Stock Market's Woes

[I]  Morgan Stanley, Goldman Say Fourth Quarter Stock Rally Is Looking Iffy

[I]  Italy May Force the EU to Issue an Unprecedented Budget Rebuke

[I]  Pound's Brexit Swing Threatens to Rip Up BOE's Inflation Outlook

[I]  U.S. Growth View, China Boosts Cash, Trump Vows Tax Cut: Eco Day

 

WALL STREET JOURNAL

[I]  The Steel Industry Gets What It Wants on Tariffs

[I]  U.S., EU Trade Teams Seek Fast Results and Big Savings

[I]  Strong Economy Draws Women Into U.S. Labor Force

[I]  Housing Market Is Faltering and Strong Economy Offers No Cure

[I]  Real Time Economics: U.S., Europe Look For a Fast Start In Trade Talks

 

BUSINESS LINE

[I]  High VAT on auto fuel makes driving costlier in Delhi

[I]  Number of taxpayers disclosing income over Rs. 1 crore rises 60% in 3 years: CBDT

[I]  Who’s gaining from the global trade war?

[I]  Indian steel cos to forge pacts with global firms for expansion

[I]  Govt-appointed panel suggests UN model law for cross-border insolvency

 

ECONOMIC TIMES

[I]  Over 60,000 telecom jobs to go by the end of this fiscal year

[I]  Fall in government bond yields likely to net treasury gains for lenders

[I]  Food ministry plans to float Cabinet note seeking loan incentives for ethanol producers

[I]  Cabinet to take up second sugar relief package

[I]  Exports will reach new high, says commerce secretary

[I]  Trade war: Government sees space for Indian exporters in US

[I]  IMF sees downside risk for global economy

[I]  Developing nations need policy space in ecommerce: India to WTO

 

BUSINESS STANDARD

[I]  Oil import bill for FY19 seen rising 42%; falling rupee cause for concern

[I]  After a weak Navratri, two-wheeler firms look to Diwali for spike in sales

[I]  Cross-border insolvency panel recommends global UN model for framing law

[I]  Govt may ask RBI to ease PCA norms, move to free up Rs 650 bn for PSBs

[I]  Big Indian cities to ride on smaller peer's smart urban mobility drive

[I]  For first time, diesel costlier than petrol, Odisha dealers fear 50% loss

[I]  EPFO data yet to stabilise, remains 'provisional' in nature

[I]  Net direct tax collection grows 15.7% to Rs 4.89 trillion, says CBDT

[I]  India's insurance gap widens despite deeper penetration, says study

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10133;  USDINR DGCX: 73.7075;  DJIA Mini: 25102;  FTSE 100 Fut: 6973;  NIKKEI 225 Fut: 22120;  EUR-USD: 1.1455; Crude Oil (WTI): 69.17;  Gold (Spot): 1224

 

Best Regards, ARBIND

23 Oct 2018