WISH THIS WEEKEND BE A STEP FORWARD FOR ACHIEVING BIGGER AND BETTER. HAPPY WEEKEND.

Macro Economic News 18 Aug 2018

The economic turmoil shows how hard it is for countries to emulate China’s model of authoritarian capitalism. The Chinese president set policy that let his nation gorge on foreign loans, granting his wish of a brawny economic expansion. U.S. consumer sentiment slid in August to its lowest level in nearly a year, as consumers registered concern about rising prices. The Conference Board Leading Economic Index rose in July, with unemployment claims, the financial components and the ISM new orders index making the largest positive contributions. The unemployment rate among young Americans fell to its lowest level in more than 50 years this summer, though the share of young people looking for work remained well below its peak in 1989.

FINANCIAL TIMES

[I]  Trump asks SEC to study scrapping quarterly earnings reports

[I]  Lira under further pressure after US warns of new sanctions

[I]  US grocers scramble to compete online

[I]  ‘Crazy Rich Asians’ and the new face of the 1 per cent

[I]  RBC whistleblower protections under FCA scrutiny

REUTERS

[I]  Worst floods in a century kill scores in Kerala

[I]  China complains about Pentagon report, says it is 'pure guesswork'

[I] U.S. imposes sanctions on Myanmar military over Rohingya crackdown

[I]  Trump backs CEOs, proposes easing corporate reporting rules

[I]  Global Economy: Euro zone limping as global trade war escalates

[I]  U.N. chief suggests options for improved Palestinian protection

BLOOMBERG 

[I]  Turkey Cut Deeper Into Junk as S&P Sees Recession Next Year

[I]  U.S., Mexico Bridge Differences on Nafta Farm Goods

[I]  Odey Says Tesla Feels Like It's Entering Final Stage of Life

[I]  Venezuela Debt Wreck Marks New Milestone as $6.1 Billion Unpaid

[I]  Why Erdogan's "Peculiar Politics" Makes for Bad Economics

[I]  Turkey Promise, China Trade Talk Fail to Dispel Gloom: EM Review

[I]  Druckenmiller Says Semi-Annual Reporting Would Be ‘Challenging’

[I]  Investor Lawsuit Caps a Rough Year for This Veteran ETF Manager

WALL STREET JOURNAL

[I]  U.S., China Draw Up Plan to Settle Trade Dispute by November 

[I]  How Erdogan’s Push for Endless Growth Brought Turkey to the Brink 

[I]  Lira Volatility Spurs Search for New Turkey Hedge

[I]  U.S. Consumer Sentiment Soured in August 

[I]  Youth Summer Jobless Rate at 50-Year Low 

[I]  U.S. Leading Economic Indicators Rose in July 

[I]  Trade Fears Throw Future of U.S. Natural Gas Into Question

[I]  U.S. Housing Starts Bounced Back in July

BUSINESS LINE

[I]  Over 2.5 lakh people in Kerala displaced by worst floods in 100 years; PM survey today

[I]  Earth will remain exceptionally hot till 2022, says new study

[I]  PE funds body wants ‘deemed exports’ status for services

[I]  GST: Cash moved in vans not ‘goods’, says appellate body

[I]  FSSAI sets up expert panel to look into draft labelling regulations

ECONOMIC TIMES

[I]  India's forex reserves may fall below $400 billion mark

[I]  Income Tax collection at record Rs 10.03 lakh crore: CBDT

[I]  PSEs turnover in Haryana rises to Rs 57,628 crore

[I]  US-China trade war could give India Iran boost

[I]  Consumer demand fires up India Inc’s Q1 show

[I]  GDP growth from FY04 higher under new series

[I]  Road ministry gears up to raise funds to meet revised targets

[I]  Companies in a bind over GST on inter-state office services

[I]  Reporting of GST, GAAR details in tax audit report deferred till Mar 2019

[I]  FSSAI ropes in expert panel to review food labelling standards

BUSINESS STANDARD

[I]  Life insurance players clocking strong growth in protection policies

[I]  Demand for co-working space is set to see three-fold rise by 2020

[I]  India's palm oil imports likely to hit six-year low, say experts

[I]  GST officers to ensure companies pass on benefits to the consumers

[I]  India's growing Chinese community inches closer to a place it can call home

Best Regards, ARBIND

18 Aug 2018

हो  कुछ. भी. पर. हार. मानूंगा. नहीं ! ! !

-     -   अमर  अटल  बिहारी   वाजपेयी

श्रद्धा  सुमन

Macro Economic News 17 Aug 2018

The unemployment rate among young Americans fell to its lowest level in more than 50 years this summer, though the share of young people looking for work remained well below its peak in 1989. U.S. home construction rebounded last month after a big drop in June, but was weaker than Wall Street had expected, with many analysts taking a bleak view of the housing market. Washington and Beijing reached a modest breakthrough in their standoff over trade, saying they would hold lower-level talks later this month on the spiraling dispute.

FINANCIAL TIMES

[I]  Atal Bihari Vajpayee, Indian politician, 1924-2018

[I]  Lira comes under new pressure after US warns of new sanctions

[I]  Greece brain drain hampers recovery from economic crisis

[I]  Gold hits 19-month low as dollar strengthens

[I]  China to send vice-ministerial trade delegation to US

[I]  Gas turbine competition heats up

[I]  Rules are required to stop political campaigns abusing personal data

REUTERS

[I]  Australia central bank governor says rates to stay at record lows 'for a while yet'

[I]  Ecuador tightens entry requirements for Venezuelans as influx swells

[I]  Chinese hackers targeted U.S. firms, government after trade mission: researchers

[I]  Pentagon says China military 'likely training for strikes' on U.S. targets

[I] RBI's monetary policy panel cites inflationary risks as reason for rate hike

BLOOMBERG 

[I]  Trump Pushes China for Better Deal With Trade Talks Set to Resume

[I]  What Fund Managers Are Worried About in Emerging Asia Markets

[I]  Powell to Discuss Economy and Monetary Policy at Jackson Hole

[I]  With Bitcoin Sinking, Crypto Miners Just Dig Deeper

[I]  Argentina Seeks More Financing With Peso Rout Deepening

[I]  Ontario Debt Sale Breaks Record After Post-Election Absence

[I]  U.S. Junk Bonds Are Beating Global Sovereign Debt in Rare Shift

[I]  Egypt Central Bank Holds Rate as Selloff Spooks Emerging Markets

WALL STREET JOURNAL

[I]  Youth Unemployment Hits 52-Year Low 

[I]  U.S., China to Resume Trade Talks as Tariffs Bite 

[I]  U.S. Housing Starts Bounced Back in July 

[I]  Turkey’s Economic Red Flags Stand Out Among Emerging Markets 

[I]  Another Step in the Push to Weaponize Global Finance

[I]  Trump Says He Is in ‘No Rush’ to Renegotiate Nafta

[I]  Retail Sales and Manufacturing Are Powering U.S. Growth This Summer

BUSINESS LINE

[I]  India Ratings lowers GDP growth estimate to 7.2%

[I]  Japan to get interest forever on low-cost funds extended to the Railways

[I]  Trade body initiative to showcase products exported to Bangladesh

[I]  Japan, South Korea steel exports to India surge on tariffs, high-end demand

[I]  Income of farm households 23% higher than non-farm homes: Nabard survey

ECONOMIC TIMES

[I]  IPOs that see big listings gains quickly go into long hibernation

[I]  Rupee moving towards natural value: NITI Aayog VC

[I]  Farmers have turned "Lakhpatis", but more than half still in debt: Nabard Survey

[I]  Falling rupee a double-edged sword for India, warn analysts

[I]  Fiscal position to worsen ahead of polls: Report

[I]  44,000 crore freight corridor on east coast in the works

[I]  Karnataka to go ahead with city elevated corridor

[I]  Indians demand a say as construction chokes cities

[I]  Irked over delay in payment to contractors, CVC seeks report from all CPSEs

[I]  India is in the process of de-industrialization: Chinese state media

BUSINESS STANDARD

[I]  Govt asks RBI to water down PCA scheme, feels norms have put burden on PSBs

[I]  PSUs get 3rd lifeline to meet free-float norms, deadline extended by 2 yrs

[I]  GDP likely to grow at a healthy 7.5% in first quarter, say economists

[I]  Japan, South Korea steel exports to India surge on tariffs, high-end demand

[I]  What are the reasons for the five-year high trade deficit in July

[I]  MPC minutes of RBI: Inflation fears, driven by oil prices, led to rate hike

[I]  EMs on cusp of a bear market; investors cautious amid global headwinds

[I]  What is still holding back India's long promised digital revolution?

[I]  Farm debt shows little decline, but incomes rise by 12% per annum: Survey

[I]  From Industrial policies to cloud computing, 5 sticking issues of trade war

MARKETS (6:30 am)

[I]  SGX NIFTY Fut: 11427  USDINR DGCX: 70.1900;  DJIA Mini: 25597;  FTSE 100 Fut: 7541;  NIKKEI 225 Fut: 22257;  EUR-USD: 1.1373; Crude Oil (WTI): 65.42;  Gold (Spot): 1173

Best Regards, ARBIND

17 Aug 2018