MACRO ECONOMIC NEWS

WE ARE ALL STORIES AT THE END AND ITS A GOOD ONE. THE BEST WEEK STARTS TO FINISH THE YEAR. BEST WISHES.

Macro Economic News 24 Dec 2018

 

Stores have met the lofty sales expectations showing that many chains continue to reap the benefits of a strong U.S. economy and rising consumer confidence. A long rally in the housing market stumbled in 2018 and looks poised to slow further, another headwind for a U.S. economic expansion already contending with choppy financial markets and global trade tensions. A top Trump administration official warned that the partial government shutdown could stretch into January as the president lauded a proposed border wall that has been the sticking point in negotiations.

 

FINANCIAL TIMES

[I]  US faces risk of shutdown running into new year

[I]  May cuts cabinet break short to rally Brexit deal support

[I]  Policymakers urge action on EU sovereign debt ‘doom loop’

[I]  US foreign policy is in disarray as Mattis leaves

[I]  China game licensing to gradually resume from next month

[I]  Competition heats up in India food delivery market

[I]  China hits back at US and UK allegations of cyber attacks

[I]  Europeans caught up in Britain’s homeless crisis

 

REUTERS

[I]  Indonesia tsunami death toll rises, hundreds injured

[I]  Top Trump official calls U.S. bank CEOs amid financial market rout

[I]  Lebanese protest over economy and politics, briefly closing some roads

[I]  UAE: OPEC+ will hold extra meeting if output cuts 'not enough'

[I]  Italy rejigs measures to spur sale of green cars

[I]  India cuts GST rates on TVs, batteries and movie tickets  

[I]  Markets suffer worst year since global financial crisis 

[I]  Yemen's financial crisis hits food imports

[I]  Argentina's economy battered by 'endless storms'

 

BLOOMBERG 

[I]  U.S. Stock Futures Mixed as D.C. Turmoil Unnerves Before Break

[I]  Fed Firing Risks, Mnuchin Calls Banks, China-U.S. Talks: Eco Day

[I]  Oil, Populist Leaders and the Dollar: Guide to Emerging Market Risks in 2019

[I]  World Steps Up to Study India's Cash Ban While Modi Looks Away

[I]  Currency Traders are on the Frontlines as Markets React to U.S. Risk

[I]  China Still Has a Treasure Chest of Overseas Real Estate to Sell

[I]  Trump's Wall Shutdown Sets Table for a Risky 2020 Gamble

[I]  Fund Managers See Value in Asia Bonds for 2019 After Bad Year

[I]  Global Chaos Makes Gold a Holiday Winner for Hedge Funds

[I]  OPEC in a ‘Whatever It Takes’ Moment to Prop Up Oil Prices

[I]  Saudi Banking Index Swings After Settlement Over Islamic Tax

 

WALL STREET JOURNAL

[I]  Trump’s Advisers Seek to Assure Investors He Won’t Fire Fed Chair

[I]  In the Stock Market, It’s a Dog-Eat-Dow World

[I]  Retailers Wrapping Up Holidays With Cheer

[I]  Once Hot Housing Market Likely to Cool Further in 2019

[I]  Trump Administration Warns Shutdown Could Last Into January

[I]  One Year Later, Benefits From Corporate Tax Cut Seem Muted

[I]  U.S. R&D Agenda Needs a Shake-Up, Scientists Say

[I]  As Brexit Date Approaches, EU Workers Kiss Goodbye to U.K. in Record Numbers

[I]  U.K. Economy Picked Up Pace in Third Quarter

 

BUSINESS LINE

[I]  4 out of 5 stocks skid in volatile 2018; small-caps both lose and gain big

[I]  GST shortfall dip: Pan-India numbers bring cheer, but deficit widens in TN, Maharashtra, Delhi

[I]  Home buying may become less taxing in 2019

[I]  SMEs ‘adopting’ automation to take on global cos

[I]  NCLAT stays insolvency proceedings against Eastern Coalfields

[I]  Start-ups can transform India’s farm sector

 

ECONOMIC TIMES

[I]  Why electric car in India is an idea whose time has not come

[I]  Big GST boost on cards for IT, ITeS firms

[I]  Niti Aayog chief bats for angel investors

[I]  When many India Inc poster boys went rogue

[I]  A new big bank is likely to emerge next yr

[I]  India Inc garners Rs 6 lakh crore from equity, debt markets in 2018; Kitty down 30%

[I]  Fed scholar sees immediate 'market chaos' if Trump ousts Powell

[I]  Quantitative tightening is already rattling markets worldwide

[I]  Concerns arise as taxman invokes GAAR to question domestic deals

[I]  Increase validity period of e-Visa to 10 years: Niti Aayog

[I]  Incentivise, not tax, angel investors: Amitabh Kant

 

BUSINESS STANDARD

[I]  Only 40% farm loan waiver in UP, Maharashtra, Punjab, Karnataka so far

[I]  With good end-of-season sales, this Christmas brings cheer to retailers

[I]  Where angel investors fear to tread: The law that's taxing Indian start-ups

[I]  Year in space: Isro gears up for busy 2019 after successful 2018

[I]  India ranks poorly in gender gap index; Indonesia and Brazil do better

[I]  GST Intelligence unit unearths Rs 2.2-billion fake tax-invoices scam

[I]  Working women more vulnerable to automation than men, says IMF Report

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10759;  USDINR DGCX: 70.2050;  DJIA Mini: 22490;  FTSE 100 Fut: 6607;  NIKKEI 225 Fut: 19790;  EUR-USD: 1.1379; Crude Oil (WTI): 45.59;  Gold (Spot): 1261

 

Best Regards, ARBIND

24 Dec 2018