WISHING A WEEKEND TO THANK EVERYONE COLOURING YOUR LIFE

Macro Economic News 03 Mar 2018

 

Trump’s tariff move of a 25 percent tariff on steel imports and 10 percent on aluminum imports has been roundly condemned by the international community including Canada, European Union and China. The president’s protectionist stance spurred a sharp downturn in U.S. stocks, falling below its 100-day moving average emphasizing - heightened volatility is not the new normal.

Bank of Japan Governor Haruhiko Kuroda on a possible 2019 stimulus exit. British Prime Minister proposes five goals for a successful Brexit negotiation, including a deal that will not risk U.K. jobs, and the “broadest and deepest possible agreement” on trade. European Union President Donald Tusk warned May before their meeting yesterday that the U.K. cannot expect a frictionless trade agreement once it is outside the single market. in the meanwhile Voters in Italy forecast predicting a hung parliament as the most likely outcome of election this Sunday.

 

FINANCIAL TIMES

[I]  Trump hails trade war as allies and markets recoil

[I]  BoE calls time on lax regulation of cryptocurrencies

[I]  May Brexit speech keeps government intact but faces frosty EU response

[I]  Theresa May warns Eurosceptics to ‘face facts’

[I]  Car groups in push to woo Saudi Arabia’s new women drivers

[I]  Plain-speaking Jay Powell dodges the political bear traps

[I]  Thousands of jobs at risk over tariffs, US manufacturers warn

[I]  EU considers imposing ‘safeguard’ import tariffs in response to US

[I]  As Brexit approaches, the gulf between Britain and Ireland widens

 

REUTERS

[I]  India doesn't expect immediate hit to steel exports after U.S. import curbs - government official

[I]  Europe targets U.S. bourbon, bikes, blue jeans for trade riposte

[I]  'Trade wars are good,' Trump says, defying global concern over tariffs

[I]  Drastic staff cuts at U.S. Embassy in Cuba now permanent

[I]  Dumping U.S. debt, a possible weapon in global trade war

[I]  Asia may face steel, aluminium glut

[I]  Global Economy - Big time politics to overshadow ECB

[I]  ECB sets new rules on bank capital and cash

 

BLOOMBERG 

[I]  Deep in Brazil's Mountains, a Coffee Boom Is Ready to Take Hold

[I]  Is Private Equity the Holy Grail of Investing?

[I]  S&P Sees Obrador Steady on Mexico’s Fiscal Stance, Less So on Oil

[I]  EU Threatens Iconic U.S. Brands After Trump Opens Door to Trade War

[I]  Why the World’s Been on Alert for a Trump-China Trade War

[I]  Corporate America Really Hates Trump’s Aluminum-Tariff Proposal

[I]  BOE’s Carney Calls for Rules to End Cryptocurrency Anarchy

[I]  U.S. Income Inequality Hits a Disturbing New Threshold

[I]  China Is Turning Ethiopia Into a Giant Fast-Fashion Factory

[I]  Bitcoin's Plunge in Volume Stirs Questions About Its Usage

[I]  BOJ's Kuroda Joins Queue of Central Banks Looking Toward Exit

[I]  Hong Kong Lifts Veil on Land Sales, Yet Trails China, Singapore

 

BUSINESS LINE

[I]  Centre raises import duty on chana to 60%

[I]  With prices skidding, electric buses on road to making a mark

[I]  4,500 film screens in South go blank to protest ‘exorbitant’ print fee

[I]  Textile industry seeks sourcing curbs to check rising apparel imports

[I]  European industry raises alarm bells; EU warns of retaliatory measures

[I]  Ease-of-doing-business needs more push

[I]  Premium ice-cream parlours put the freeze on expansion, seek to rationalise operations

[I]  How long can depositors bail out banks?

[I]  India needs an independent audit regulator

[I]  Centre hikes import duty on crude, refined palm oil

[I]  SEA sees 4% dip in mustard output on lower area

 

ECONOMIC TIMES

[I]  Trump's trade war will hurt only 1 country, and it's not China

[I]  Cryptocurrencies are failing as money: Bank of England's Carney

[I]  BOJ chief flags prospect of exit from easy policy if inflation goals met

[I]  Nikkei rattled by fears of trade war, BOJ exit; auto, steel sector slide

[I]  Bill Gates says US will have another financial crisis similar to 2008

[I]  Most emerging Asian currencies edge up as dollar slips

[I]  Small growers' contribution rise, Tea Board voices concern

 

BUSINESS STANDARD

[I]  NITI Aayog panel recommends tax cuts on gold, revamping monetisation scheme

[I]  Indian firms slow on cybersecurity; might gain from EU's upcoming GDPR

[I]  Compliance issues: BS-VI cars to remain a luxury until April 2020

[I]  Road to cleaner fuel: BS-VI is already powering your car in Delhi

[I]  RBI rejects pleas from mobile wallet entities for less stringent KYC rules

[I]  Equity investors now turn their attention to export-driven sectors

[I]  Sharp increase in tariff on palm oil, chickpea

 

Best Regards, ARBIND

03 Mar 2018

WISH YOU AND YOUR LIFE ARE FULLY DRENCHED WITH BEAUTIFUL COLOURS.

Macro Economic News 02 Mar 2018

 

World is fully drenched with colours, all sparkling and bright colours. Donald had ducked many steel companies with irony colour and added different colour to his hawkish trade agenda. Stock market is also under “Influence” this season and showing its colour across globe. Powell is throwing its “Cool Colour” to keep unemployment and inflation in balance. Unique Colour of China is blitzing with the hope of wealth flow without invisible hands. Russia is readying itself with “unstoppable” colour weapon.

South Korean, Japan and Thailand are yet to show its colour of industrial output data and CPI reports. May may colour EU with its renewed relationship along with BOE head heads to Edinburgh with ECO colour. Germany retail sales colour on the way while GDP colour of Czech, Italy and Canada are expected soon. With so many colours around, people accord vote in Germany and Italy.

Happy Holi !

 

FINANCIAL TIMES

[I]  Donald Trump to slap 25% tariff on steel imports 

[I]  Social media faces EU ‘1-hour rule’ on taking down terror content

[I]  Asian bike-sharing companies find road is tougher in Europe

[I]  Russia to deploy ‘unstoppable’ nuclear weapons says Putin

[I]  Spain’s ‘surgical strike’ on Catalonia turns into arduous campaign

[I]  Denmark proposes doubling punishment for crimes in ‘ghettos’

[I]  Germany suspects Russian group of hack

[I]  Japan’s Abe forced to shelve business-friendly labour reform

[I]  Italy’s rising jobless rate piles pressure on Democratic party

[I]  Saudi Arabia approves licensing regulations for cinemas

 

REUTERS

[I]  India to consolidate 35 overseas branches of state banks

[I]  India raises import tax on palm oil to highest in a decade

[I]  Trump to impose steep tariffs on steel, aluminum, stoking trade war talk

[I]  Asia gold price drop supports demand; Indian buyers bet on steeper dip

[I]  Japan jobless rate hits 25-year low, inflation ticks up

[I]  Putin unveils 'invincible' nuclear weapons to counter West

[I]  Russians used social media to stir divisions on U.S. energy policy: lawmakers

[I]  Global Economy: Manufacturing vigour remains, strong currencies hinder exports

[I]  Trump's steel shock drives wedge into sluggish NAFTA talks

 

BLOOMBERG 

[I]  U.S. Tariffs Will Hurt America the Most

[I]  China's GDP Target to Set the Tone for Power Summit

[I]  U.S. Income Inequality Hits a Disturbing New Threshold

[I]  Singapore Freezes World-Leading Ministerial Salaries

[I]  U.S. Shale Surge Offsets Lowest Saudi Oil Imports Since 1980s

[I]  This Tropical Paradise is the Scene of a New Cold War

[I]  Fed Chair Powell Sees 'No Evidence' of Economy Overheating

[I]  Libya Crude Output Is Stable Despite Halt at Key Oil Field

[I]  Tariffs Update: Latest News on Trade Spat

 

BUSINESS LINE

[I]  New regulator to discipline auditors is born

[I]  PNB fraud fallout: Wary banks choke MSMEs’ credit lines

[I]  It will be cheaper if you book train tickets using a debit card

[I]  ‘EB-5 Visa plan, a good option for Indians wishing to move to the US’

[I]  India-China border remains sensitive, tension may escalate: Subhash Bhamre

[I]  Public sector banks begin consolidation of overseas operations

[I]  Global demand for rubber seen up on faster economic growth

[I]  RBI allows higher position limit for FPIs in interest rate futures

[I]  RBI lifts per-borrower loan cap for MSMEs

 

ECONOMIC TIMES

[I]  Govt readies mega social security scheme for 50 crore Indians

[I]  The missing tax trick: What Jaitley needs to do to raise both tax kitty and FDI at one go

[I]  India's economic growth could back more US exports

[I]  RBI allows overseas investors to bet in rate futures

[I]  As 10-year bonds drop for 7th month, SBI leaves bond street

[I]  Global consumer goods companies push for localisation to fight domestic competition

[I]  Food processing to help double farmers' income by 2022: Harsimrat Kaur Badal

[I]  UPI continues strong growth for February

[I]  India blocked WTO ministerial declaration agreement in December: US

[I]  Private sector investment on revival path, say economists

[I]  CBDT signs 7 more unilateral APAs with taxpayers

[I]  'No expenditure cut in FY18 to meet fiscal deficit target'

 

BUSINESS STANDARD

[I]  Car sales set to end the financial year with a growth rate of over 8%

[I]  Emotional attitudes, low aspirations behind teen dropouts, says study

[I]  GST anti-profiteering application complaint form being made simpler

[I]  GVA must expand at 6.9% in Q4 to meet CSO's FY18 projection of 6.4%

[I]  Commerce ministry to reconcile data conflict on polished diamond import

[I]  India, Jordan sign 12 MoUs to boost cooperation in defence, health sectors

 

MARKETS (07:00 am) 

[I]  SGX NIFTY Fut: 10368;  USDINR DGCX: 65.4375;  DJIA Mini: 24629;  FTSE 100 Fut: 7117;  NIKKEI 225 Fut: 21120;  EUR-USD: 1.2272; Crude Oil (WTI): 61.19;  Gold (Spot): 1317          

Best Regards, ARBIND

02 Mar 2018