MACRO ECONOMIC NEWS

MAY THIS FESTIVE SEASON BLESSES YOU WITH INNER PEACE, HAPPINESS, HEALTH AND KINDNESS. WISHING A DIVINE DAY AHEAD.

Macro Economic News 10 Oct 2018

 

A new study by the International Monetary Fund projects emerging economies will muddle through recent market turbulence without a severe shock to their financial systems, but flags an outside chance of a crisis. The International Monetary Fund lowered its forecasts for global economic growth this year and next, citing rising trade protectionism and instability in emerging markets. The Turkish government unveiled measures aimed at reining in double-digit inflation that has helped erode investor confidence in the country and contributed to a sharp depreciation of the currency this year.

 

FINANCIAL TIMES

[I]  Turkey asks shops to cut prices in radical approach to inflation

[I]  US threatens to block trade talks with China at G20

[I]  Rightwing terror in Europe draws fuel from populism and xenophobia

[I]  Taiwan shifts gears as China poaches diplomatic allies

[I]  Italy’s Tria fails to halt market fears over budget talks with EU

[I]  BoE warns EU that £41tn of derivatives at risk after Brexit

[I]  Australia rejects UN call to phase out coal

[I]  Pakistan seeks up to $7bn bailout from IMF

[I]  IMF urges governments to focus on state assets

 

REUTERS

[I]  India to export raw sugar for the first time in three years

[I]  Work stalls in many small factories in Gujarat after attacks on migrants

[I]  China's yuan to pare losses on hopes trade risks will subside: Reuters poll

[I]  Rising debt at Indonesian SOEs poses indirect fiscal risks: OECD

[I]  Global debt is growing, IMF says, but so are values of public assets

[I]  UK's May plans Brexit discussion at Tuesday's cabinet meeting - The Times

[I]  India likely to miss fiscal deficit target due to fuel excise duty cut: Moody's

[I]  IMF sees Venezuela inflation at 10 million percent in 2019

[I]  U.S. inflation expectations stable over three years: NY Fed survey

[I]  IMF cuts world economic growth forecasts on tariff war, emerging market strains

 

BLOOMBERG 

[I]  Oil Trades Above $74 on Speculation Storm May Worsen Supply Risk

[I]  China's Neighborhood Cash Drop Pumps $500 Billion Into Economy

[I]  Rupee's Fall Has a Surprising New Reason: India's Central Bank

[I]  The Battery Boom Has Created a New Lithium Superpower in China

[I]  Investors Underestimating Risk of a Financial Shock, IMF Warns

[I]  Big Oil Could Reap Windfall on Fossil Fuel Limits, Goldman Says

[I]  World's Fastest-Growing Economy Isn't Creating Jobs Like Before

 

WALL STREET JOURNAL

[I]  IMF Warns of Possible Emerging-Markets Crisis

[I]  Government Debts Not as Daunting When Assets Are Mixed In

[I]  Trump Criticizes Fed Rate Increases Again

[I]  Fed’s Kaplan Voices Support for Three More Rate Increases

[I]  Turkey Reveals Plans to Tame Inflation

[I]  IMF Lowers Global Growth Forecasts for 2018 and 2019

[I]  Emerging Markets Look to Contain Damage

 

BUSINESS LINE

[I]  Govt mulls Ordinance to tweak Companies Act to cover governance issues

[I]  Manufacturing sees 69% increase in online hiring

[I]  UDIN to become mandatory for CAs from Jan 1

[I]  SEBI allows foreign exchanges to hold 15% in share depositories

[I]  Inadequacy of telecom infra can handicap Digital India: KPMG

[I]  Falling rupee to adversely impact the profitability of corporates in FY19: CARE

 

ECONOMIC TIMES

[I]  Why US' trade deal with Mexico, Canada should worry India

[I]  RBI to infuse Rs 12,000 cr to ease liquidity

[I]  India ranks bottom of Oxfam world inequality index

[I]  Dividend cut from oil companies unlikely; disinvestment target to be met: Finance ministry

[I]  India seen escaping Argentina's fate as remittances curb deficit

[I]  Ordinance to alter Companies Act

[I]  Direct taxes code task force to be reconstituted

[I]  No centre-state wall: Officials handling GST can assess all

 

BUSINESS STANDARD

[I]  1,600 combination drugs under govt lens, may face ban over safety issues

[I]  Finance ministry to recast direct tax panel after discord on suggestions

[I]  How some of India's biggest companies faltered on industrial safety

[I]  Firms could lose over Rs 100 billion due to rupee fall: CARE Ratings

[I]  Fresh set of problems for India as Iran demands payment in euros

[I]  Independent directors' payouts under govt lens: All you need to know

[I]  New US development finance rules may lead to more funds for India

[I]  Free fall: Volatile week erodes one-year gains for large-cap schemes

[I]  Nomura, Credit Suisse, Goldman Sachs turn cautious on Indian equities

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10329;  USDINR DGCX: 74.3175;  DJIA Mini: 26482;  FTSE 100 Fut: 7195;  NIKKEI 225 Fut: 23404;  EUR-USD: 1.1507; Crude Oil (WTI): 74.69;  Gold (Spot): 1189

 

Best Regards, ARBIND

10 Oct 2018