MACRO ECONOMIC NEWS

THIS FESTIVAL OF WEALTH (LAXMI), MAY YOU BE BLESSED BEYOND WHAT YOU EXPECT. WISHING ABUNDANCE FOR YOUR REAL WEALTH.

Macro Economic News 06 Nov 2018

 

The Trump administration issued waivers to eight governments, exempting them from sanctions on Iranian oil that took effect at midnight. Beijing is constructing parallel financial and commercial networks across Central and Eastern Europe to challenge the global order. Its offers give emerging economies a quick path to development and infrastructure—but with downsides, including debt burdens. Large U.S. companies adjust to the trade standoff with China with price increases or changes to their supply chains, but they say the situation could deteriorate in 2019.

 

FINANCIAL TIMES

[I]  China’s Xi Jinping hits out at ‘law of the jungle’ trade policies

[I]  Italy pressed by other EU nations to redraft budget 

[I]  BoJ governor Kuroda hints at monetary tightening

[I]  US-China trade war starts to drag on Asian growth

[I]  South Korea to help start-ups secure funds

[I]  ECB withdraws licence of Maltese bank after scandal

[I]  Italy’s recipe for another eurozone financial crisis

 

REUTERS

[I]  U.S. temporarily grants Iran oil waivers to China, India

[I]  Trump says he wants to go slower on sanctions for Iran's oil

[I]  Private Chinese companies worry Beijing is more focused on big state firms

[I]  China central bank official says yuan internationalisation is market-driven

[I]  Aussie, NZ dollars to stick to recent ranges near-term as headwinds persist: Reuters poll

[I]  Japan set to prepare for resuming Iran oil imports: trade minister

[I]  China regulator urges mutual funds to support struggling listed firms-media

[I]  Japan household spending falls in September, confounds expectations

[I]  Delhi under cloud of smog as pollution level jumps

[I]  Euro zone asks Italy to change budget, Rome digs in heels

 

BLOOMBERG 

[I]  Africa Enjoys Oil Boom as Drilling Spreads Across the Continent

[I]  Movies, Pubs Mask Picture of British Consumers Under Pressure

[I]  China Still Ready to Talk Trade With Trump, Xi's No. 2 Says

[I]  Record Number of Markets Now in the Red in Worst Year Since 1901

[I]  For the Corporate Bond Market, It's Business as Usual on Election Day

 

WALL STREET JOURNAL

[I]  Iran Vows to ‘Break’ Sanctions as U.S. Reimposes Ban on Oil

[I]  Defiant Rouhani Promises to ‘Break’ New U.S. Sanctions

[I]  Trump Digs In for a Long, Cold War With Iran

[I]  Iran Sanctions: A Look at How We Got Here

[I]  Oil Rises as Sanction Take Effect

[I]  Trophy Infrastructure, Troublesome Debt: China Makes Inroads in Europe

[I]  Companies Face the Tariff Squeeze

[I]  Hiring Accelerates as Wages Strengthen

[I]  U.S. Goods Imports Hit New Record

 

BUSINESS LINE

[I]  Waiver may be subject to stiff US terms on tapering of oil imports

[I]  Services PMI on a roll, rises to 52.2 in Oct

[I]  Handloom exports to take a hit as US removes trade sops

[I]  Poor show in Europe, Africa and flat domestic sales hit the drugmaker

[I]  Centre issues guidelines for Operation Greens

[I]  Move to ease NBFC liquidity pressure offers little respite

 

ECONOMIC TIMES

[I]  Why India's credit rating agencies need a major overhaul

[I]  Crisil sees rupee racing back to 71 level by March

[I]  One in four Indian firms use innovation to unlock value: Accenture

[I]  Plastic exports up 31% in H1, above 70% growth in shipments to China, Vietnam

[I]  India to boost food, pharma, IT, tourism exports in China’s first import only show

[I]  India, Sharjah to bolster economic ties

[I]  Donald Trump puts India in a tough trade spot

 

BUSINESS STANDARD

[I]  Govt's new rules may bar non-performers from bidding for new road projects

[I]  Rising petrol and diesel prices perk up CNG car sales in first half of FY19

[I]  Diwali sale 2018: Tracking the online footprint of festival shopper

[I]  Govt lines up Rs 90 billion for MSME outreach and support programme

[I]  India moves to make diamond industry free of corruption and terrorism

[I]  Excessive competition can put particular sector under stress: Jaitley

[I]  Provisioning dents PAT for private banks despite high interest income

[I]  Labour statistics disappoint in October: Unemployment rate rises to 6.9%

[I]  $6 trillion is what the world has to spend for an electric car-only future

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10584;  USDINR DGCX: 73.0575;  DJIA Mini: 25446;  FTSE 100 Fut: 7083;  NIKKEI 225 Fut: 22121;  EUR-USD: 1.1409; Crude Oil (WTI): 62.96;  Gold (Spot): 1230

 

Best Regards, ARBIND

06 Nov 2018