HUMAN IS NATURALLY BLESSED FOR CELEBRATING EVERY MOMENT. WISHING A WONDERFUL WEEKEND.

Macro Economic News 22 Sep 2018

 

The eurozone’s economy continued its slow-motion slowdown in September, as exports suffered from a drop off in global demand and uncertainty about future trade relations between the U.S. and other countries. Turkey’s economic crisis has heightened concerns in Egypt about whether the Arab world’s largest country is positioned to withstand falling confidence in emerging markets world-wide.

 

FINANCIAL TIMES

[I]  Defiant May throws down gauntlet to Brussels

[I]  US growth is shrugging off Donald Trump’s China tariffs

[I]  ‘Time for the good ol’ boys to step back’: Women, politics and the Supreme Court

[I]  Mixed fortunes for UK retail’s emerging brands

[I]  UK accountants: no plaudits for audit

[I]  Only human, after all: how evolution left us ill-equipped for modernity

 

REUTERS

[I]  Receding trade fears propel stocks to six-month peak

[I]  Zimbabwe's new finance minister says 'fiscal shock' needed for reform

[I]  Exclusive: OPEC and allies consider oil output boost as Iranian supply falls - source

[I]  Major powers, except U.S., try to keep Iran nuclear deal alive

[I]  Fashion world split over digital supermodels

[I]  India government likely to announce lower borrowing programme next week: sources

[I]  Fitch raises India's 2018/19 growth forecast to 7.8 percent: statement

[I]  Japan inflation ticks up but BOJ's target still out of reach

[I]  EU pushes October Brexit agreement, threatens no deal

 

BLOOMBERG 

[I]  Bulls Gain Conviction in Oil Rally as OPEC Ministers Gather

[I]  Once-Bitten Investors Stay Wary as Gold-Mining Stocks Get Cheap

[I]  May Tears Into EU and Demands Respect, Says Brexit at ‘Impasse’

[I]  May Dealt Brexit Setback as Article 50 Sent to EU Highest Court

[I]  Pound Slumps Most in 10 Months After May Sticks to Brexit Guns

[I]  No One Knows What to Call the Hottest Cryptocurrency

 

WALL STREET JOURNAL

[I]  Trade Tensions Spell Trouble for Eurozone Economy

[I]  Turkey’s Economic Woes Raise Tensions in Egypt

[I]  Swiss Paradox: Booming Economy, Negative Interest Rates

[I]  Real Time Economics: U.S. Stocks Hit Fresh High and Jobless Claims a Fresh Low

 

BUSINESS LINE

[I]  Owner-drivers mandated to get a minimum personal accident cover of Rs. 15 lakh

[I]  A golden harvest of sweetness and profit

[I]  Fitch raises India growth forecast to 7.8% this fiscal

[I]  May hits back at EU for rejecting her Brexit plan

[I]  Separate standards soon for frozen peas, beans, cauliflower and spinach: FSSAI

[I]  For efficiency, firms’ digital resources need as much supervision as people

[I]  ‘Artificial Intelligence can do away with workplace bias, ensure parity’

[I]  RBI announces norms for co-origination of priority sector loans by banks, NBFCs

 

ECONOMIC TIMES

[I]  Rs 5.66 lakh crore investor wealth wiped out in 4 days of market crash

[I]  CFOs’ salary jumps over 40% with rising demand for financial skill sets

[I]  Kharif acreage up 0.61% YoY to 1,057.81 lakh hectare

[I]  How India can become the manufacturing capital of the world

[I]  55,000 shell firms struck off in 2nd phase: Government

 

BUSINESS STANDARD

[I]  Sebi allows NRIs, resident Indians, OCIs to invest in India via FPI route

[I]  Why premium car dealers are seeing an unprecedented churn across cities

[I]  With greater variety and availability, biryani is the new delivery staple

[I]  Finance Ministry likely to issue advisory halting excess expenditure

[I]  CRISIL DRIP: As monsoon withdraws, deficiency up in kharif growing states

[I]  Fitch raises India's GDP forecast to 7.8% from 7.4% for FY19

[I]  Finance Ministry tells Sebi to frame a policy on recovery proceedings

[I]  NBFCs may run into choppy waters as market dries up, interest rates rise

[I]  India gets World Bank's support for transition to high-middle income nation

 

Best Regards, ARBIND

22 Sep 2018

MAY THIS FRIDAY YOU EXPERIENCE THE PROSPERITY OF PLEASURE. WISHING A FANTASTIC FRIDAY.

Macro Economic News 21 Sep 2018

 

U.S. home sales stalled in August, highlighting a growing disconnect between the sluggish housing market and the strong economy that is powering stocks to new highs. The number of Americans filing applications for new unemployment benefits fell to a new 49-year low last week, though any effect from Hurricane Florence may not be realized for several weeks. The total net worth of U.S. households rose to nearly $107 trillion during the second quarter of 2018, as climbing home values and stock prices boosted Americans’ wealth. Switzerland’s central bank left its key rate at minus 0.75% despite a strong economy, standing apart from most rich countries that are following the Fed in moving away from crisis-era policies.

 

FINANCIAL TIMES

[I]  US stocks hit fresh record on booming economy

[I]  Turkey unveils plan to fight currency crisis

[I]  EU ambushes May over Brexit plan

[I]  Reality of painful tariffs point to long-term test for China

[I]  India and Pakistan foreign ministers to meet in sign of thaw

[I]  Mounting trade conflict threatens world economy, OECD warns

 

REUTERS

[I]  India may look to lock in oil futures to stem rupee slide

[I]  Japan, U.S. to hold second round of trade talks Sept. 24: Motegi

[I]  Trade worries push Japan Sept manufacturing confidence to 2-year low-flash PMI

[I]  India set to pay for Iranian oil using rupees from November: sources

[I]  As petrol prices sky-rocket, Indians look for ways to ease the pain

[I]  EU pushes October Brexit agreement, threatens no deal

[I]  Trump says OPEC 'monopoly' must get prices down

 

BLOOMBERG 

[I]  Canadian Export Agency Downgrades Its Assessment of Saudi Arabia

[I]  Japan's Manufacturing PMI Rises to Three-Month High

[I]  Fed Recession Risk, Fealty to Xi, Trump Exemption Doubt: Eco Day

[I]  Hong Kong's Dollar Suddenly Strengthens by the Most in a Year

[I]  Japan's Super-Long Bond Yields Climb After BOJ Cuts Purchases

[I]  What Happened This Week in the World Economy and What It Means

[I]  Argentina Begins Long Road Back to Redemption in Bond Market

[I]  OPEC’s Squabbles Don’t Really Matter for the Oil Market

[I]  Pensions Are Still Hungry for Long Bonds Even After Tax Deadline

[I]  Slowing Home Sales Are Hitting China Home-Appliance Stocks

 

WALL STREET JOURNAL

[I]  U.S. Existing-Home Sales Stalled in August

[I]  U.S. Housing Starts Rose in August

[I]  U.S. Jobless Claims Fall to 49-Year Low

[I]  U.S. Household Net Worth Neared $107 Trillion in Second Quarter

[I]  Swiss Paradox: Booming Economy, Negative Interest Rates

[I]  U.S. Current-Account Deficit Narrowed in Second Quarter

[I]  Profit Repatriation Slows in the Second Quarter After Tax Overhaul

[I]  OECD Sees Trade Tensions Hindering Global Growth

[I]  World Poverty Falls Below 750 Million

 

BUSINESS LINE

[I]  Cyclone Daye to bring heavy rain to Central, N-W India

[I]  9.5 lakh jobs created in July, show EPFO data

[I]  NITI Aayog to make recommendations on proposed agriculture export policy

[I]  GST: E-commerce firms to collect 1% tax at source from October 1

[I]  Preventive vigilance would work best in PSBs, says RBI Governor

[I]  Signing FTA is priority for Australia, says Deputy High Commissioner

 

ECONOMIC TIMES

[I]  FinMin pegs dollar value at Rs 73.65 for computing import duty

[I]  Near-term outlook for US dollar is bullish. Rupee may feel the pinch

[I]  Kharif acreage up 0.61% YoY to 1,057.81 lakh hectare

[I]  At under 10% of GDP, household debt is not alarming: Report

[I]  Indian economy to reach USD 5 trillion size by 2022: PM Narendra Modi

[I]  Easier tax refund regime for exporters in the works

[I]  India's curbs on imports of 'non-essential' items likely Thursday: Sources

 

BUSINESS STANDARD

[I]  Under ICA, incentive for banks lending more than share in resolution plans

[I]  Cell phone tower 'trees' to take root, will bear high-volume data

[I]  Truckers charging transporters higher than before to cushion fuel hike

[I]  30 new airports to come up in 15 mths, country's 100th coming up in Sikkim

[I]  RBI starts buying bonds through OMOs to stem shortage in liquidity

[I]  Preventive vigilance better governance tool: RBI governor Urjit Patel

[I]  Nothing is sacred as India's central bank cleans up the financial sector

[I]  EU leaders push for second Brexit vote with almost unanimous backing

 

MARKETS (08:15 am)

[I]  SGX NIFTY Fut: 11356;  USDINR DGCX: 71.7775;  DJIA Mini: 26675;  FTSE 100 Fut: 7383;  NIKKEI 225 Fut: 23793;  EUR-USD: 1.1781; Crude Oil (WTI): 70.80;  Gold (Spot): 1208

 

Best Regards, ARBIND

21 Sep 2018

MAY THIS DAY YOU EXPERIENCE THE PLEASURE OF PROSPERITY. WISHING AN ELEGANT DAY AHEAD.

Macro Economic News 20 Sep 2018

 

President Trump will nominate Nellie Liang, a former Federal Reserve economist who created its first office of financial stability, to the central bank’s board of governors. The latest U.S. tariffs will hammer Chinese auto-parts makers, likely raising prices for their U.S. customers, who have few other options. The global population living in extreme poverty has fallen below 750 million for the first time since the World Bank began collecting global statistics in 1990, a decline of more than 1 billion people in the past 25 years.

 

FINANCIAL TIMES

[I]  Rivals seek to profit from US-China trade war

[I]  Turkey’s shopping centres at sharp end of currency crisis

[I]  Donald Trump ramps up pressure on Canada for trade deal

[I]  US business groups rail against Trump’s China tariffs

[I]  Trump seeks to replace Iranian oil sources for allies

[I]  China is at risk of becoming a colonialist power

 

REUTERS

[I]  U.S. ready to resume North Korea talks, seeks denuclearization by 2021

[I]  Canada PM urges some U.S. flexibility in NAFTA, talks seen slow

[I]  U.S. ready to resume North Korea talks, seeks denuclearization by 2021

[I]  Oil prices rise amid drop in U.S. stockpiles, supply worries

[I]  Philippines spending spree fades as inflation hurts even foreign cash earners

[I]  Britain's May appeals to EU leaders but no sign of Brexit deal

[I]  India considers dollar window for oil firms, bonds to ease rupee pressure: source

[I]  BOJ's Kuroda warns of trade perils, echoes Abe on exiting easy policy

[I]  Trump says U.S. may make a trade deal with China at some point

 

BLOOMBERG 

[I]  Trump's Early Trade-War Advantage May Be Slipping by the Day

[I]  OPEC's Decade of Turmoil Leaves Cartel Seeking a New Way Forward

[I]  Charting Japan's Economic Recovery

[I]  China-U.S. Tariff War Will Escalate, Says Ex-Trade Negotiator

[I]  The Bigger Question for Stock Investors in Japan's Upcoming Vote

[I]  New Zealand Economy Grew More Than Forecast in Second Quarter

[I]  Brazil Keeps Rate at Record Low But Cautions of Higher Risks

 

WALL STREET JOURNAL

[I]  Latest U.S. Tariffs Could Make Auto Parts Pricier

[I]  World Poverty Falls Below 750 Million

[I]  U.S. Current-Account Deficit Narrowed in Second Quarter

[I]  Some Companies Spend Plenty to Lure Executives Willing to Relocate

[I]  U.S. Housing Starts Rose in August

[I]  Holidays Gifts May Escape Tariffs, but Retailers Won’t

[I]  Brazil Central Bank Leaves Selic Rate Unchanged at 6.5%

 

BUSINESS LINE

[I]  Life insurers seek separate investment window in income-tax deduction

[I]  Coal supply crisis looms as thermal demand zooms

[I]  Deep depression forming in Bay; IMD issues alert

[I]  Realtor told to return profit to home buyers

[I]  Cap on solar tariffs to stay despite industry concerns

[I]  Banks/financial institutions prefer NBFC-MFIs for debt funding

[I]  Credit turnaround time for MSMEs improves to 26 days

 

ECONOMIC TIMES

[I]  Jobs-for-locals diktat pinching Saudi firms

[I]  Dollar near 7-week low as markets look past trade woes, pound eyes EU summit

[I]  RBI eases ECB norms & masala bond rules to stem fall in rupee

[I]  Govt considers dollar window for oil firms, bonds to ease rupee pressure

[I]  Government unlikely to go for NRI deposits to stem falling rupee: ET NOW

[I]  Maharashtra sugar output likely to be 10% below estimates

[I]  Indian economy might topple US by 2050, but workforce quality remains concern

[I]  Canada looks to ‘diversify’, bolster India relationship

[I]  India rules out tariffs on imports of US steel, aluminium for now

[I]  Government panel suggest setting up of independent Payments Regulatory Board

[I]  Finance ministry to meet PSU bank chiefs on innovation and branding on Sept 25

 

BUSINESS STANDARD

[I]  Average spend on smartphones in India rises 30% in 2 years: Report

[I]  Soon uniform inspection norms for pharma units; govt to form advisory body

[I]  Watchdog comes to homebuyers' rescue, asks builder to pass on GST benefits

[I]  RBI, central govt at loggerheads over proposed payments regulator

[I]  Two years of IBC: Resolution for just 34 defaulters out of 91 cases

[I]  Risk-averse bankers slowing construction of India's infra projects: Gadkari

[I]  Sebi's cuts for MFs to be costly affair for new distributors, smaller AMCs

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11308;  USDINR DGCX: 72.0925;  DJIA Mini: 26480;  FTSE 100 Fut: 7339;  NIKKEI 225 Fut: 23673;  EUR-USD: 1.1685; Crude Oil (WTI): 71.66;  Gold (Spot): 1206

 

Best Regards, ARBIND

20 Sep 2018