MACRO ECONOMIC NEWS

MAY YOU GIVE A SMILE TO YOURSELF THIS MORNING ALONG WITH FAMILY, FRIENDS AND FAITH. WISHING A SOULFUL DAY AHEAD.

Macro Economic News 09 Oct 2018

 

The International Monetary Fund lowered its forecasts for global economic growth this year and next, citing rising trade protectionism and instability in emerging markets. As Pakistan starts bailout talks with the IMF this week, many developing nations have taken steps to limit fallout from weakening currencies and rising interest rates in the U.S. Bank of Mexico Gov. Alejandro Díaz de León called on President-elect Andrés Manuel López Obrador to maintain fiscal discipline as part of a “shared responsibility” to ensure continued economic stability.

 

FINANCIAL TIMES

[I]  World to miss Paris climate targets by wide margin, says UN panel

[I]  Brazilian markets cheer Jair Bolsonaro’s lead in presidential vote

[I]  Nigeria’s fuel subsidies bill set to soar on rising oil price

[I]  Pakistan to begin bailout talks with IMF

[I]  South African president under pressure to sack finance minister

[I]  ECB hits the road to pitch its policies

[I]  Oman launches electricity sector privatisation drive

 

REUTERS

[I]  India hopes to secure U.S. sanctions waiver after cutting Iran oil imports

[I]  Asia stocks at 17-month low amid China concerns

[I]  IMF cuts world economic growth forecasts as import tariffs, emerging market issues bite

[I]  U.N. calls for 'unprecedented' steps to fight global warming

[I]  Pakistan's new government to open talks with IMF for financial assistance

[I]  Dollar dips against yen amid China, Italy woes

[I]  Emerging markets 'as prepared as they can be' for U.S. rate moves: Fed's Bullard

[I]  Scant rains to dent India's cotton output, exports: trade body

[I]  Column: China's credit loosening may not do much for commodity demand

 

BLOOMBERG 

[I]  Thailand Will Hold February Election, Prime Minister Tells Abe

[I]  IMF Says Crisis-Scarred Turkey Needs to Go All In to Fix Economy

[I]  IMF Sees Deeper Recession in Argentina, Slower Growth in Brazil

[I]  Venezuela's 2018 Inflation to Hit 1.37 Million Percent, IMF Says

[I]  Want to Move to Australia? You May Have to Forget Sydney and Melbourne

[I]  IMF Cuts Forecast for Global Growth as Trade War Takes Its Toll

[I]  Fear Gauge’s 58% Surge Leaves Stock Strategists Asking What Next

[I]  Singapore Gives Bondholders a New Way to Chase Default Losses

 

WALL STREET JOURNAL

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

[I]  U.S. Economists Win Nobel for Work on Climate, Growth

[I]  U.S.-China Tensions Break Out in Beijing

[I]  Bank of Mexico Chief Stresses Shared Responsibility in Economic Stability

[I]  Chinese Exporters Find 18,927 Ways to Avoid U.S. Trade Tariffs

[I]  As U.S. Tariffs Bite, China Moves Again to Spur Its Economy

[I]  Investment in Infrastructure Is Booming

 

BUSINESS LINE

[I]  IBC rejig gives priority to operational creditors

[I]  Bay of Bengal cyclone to delay N-E monsoon

[I]  MF assets shrink 13% in September

[I]  Post missile deal with Russia, India awaits US decision on waiver from sanctions

[I]  EPS requests PM to amend environment rules; fears loss of employment in fireworks sector

[I]  The dubious record of global audit firms

[I]  Campus hiring: Job offers by IT majors hit a high; experts cautious on trend

 

ECONOMIC TIMES

[I]  Debt-ridden Pak to approach IMF for bailout

[I]  Why banks haven't cut interest rates: SC asks RBI

[I]  Govt will begin gold bond sale in festive season

[I]  Oilmeal exports up 9% at 14 lakh tonne during April-September FY'19

[I]  100% FDI in insurance broking in the works

[I]  Buyers from West Europe to source Food and Beverage from India

[I]  RBI survey: Indians are not buying tall stories about the economy and jobs

[I]  Pay tax, get rewards from the government

 

BUSINESS STANDARD

[I]  Are you planning to buy a car? Get ready to shell out more in EMIs

[I]  Response to trade war takes centre stage as govt mulls fresh import curbs

[I]  Telecom companies brace for a 4% fall in average revenue per user

[I]  India and US bilateral trade rises 119% since 2007 at $126.2 billion

[I]  IMF retains economic growth projection for India at 7.3% for FY19

[I]  Govt's decision to reduce fuel prices credit negative for OMCs: Moody's

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10368;  USDINR DGCX: 74.2125;  DJIA Mini: 26514;  FTSE 100 Fut: 7210;  NIKKEI 225 Fut: 23474;  EUR-USD: 1.1491; Crude Oil (WTI): 74.35;  Gold (Spot): 1191

 

Best Regards, ARBIND

09 Oct 2018