MACRO ECONOMIC NEWS

YOUR SMILE BRINGS HAPPINESS UPTO THREE NODES OF FRIENDS WHILE ENTIRE WORLD IS CONNECTED WITHIN SEVEN NODES OF FRIENDSHIP. WISHING A SMILING DAY AHEAD.  

Macro Economic News 03 Jan 2019

The U.S. has granted 75% of requests so far to exclude steel imports from tariffs that took effect in March, a Wall Street Journal analysis found—covering about 16% of the finished foreign steel entering the U.S. The stock market is sliding, interest rates are rising and trade tensions continue.

 

FINANCIAL TIMES

[I]  EU eyes tougher scrutiny of China cyber security risks

[I]  ECB appoints administrators to Banca Carige

[I]  Trump and Democrats fail to reach funding breakthrough

[I]  Factories in Brexit Britain boosted as stockpiling surges

[I]  China factory sector contracts as growth slows

[I]  Indian small businesses wooed ahead of elections

[I]  Japan risks creating ‘immigration problem’

[I]  Russia’s business elite seeks to play down Putin links

 

REUTERS

[I]  Cabinet approves merger of three state-owned banks 

[I]  Cabinet approves incentives for exporters of select goods 

[I]  Australian dollar left bloody after computer-driven crash

[I]  No progress towards ending U.S. shutdown in Trump meeting with lawmakers

[I]  Brexit poses risk, but German economy poised for further growth: minister

[I]  UK services growth drops to two-year low in fourth-quarter in Brexit 'stasis': BCC

[I]  North Korea warns of 'new path', but options limited

[I]  UK factories build up stockpiles before Brexit, boosting PMI

[I]  Euro zone factories ended 2018 on a low note - PMI

 

BLOOMBERG 

[I]  Sharp Drop in Australian Home Values Raises a Red Flag

[I]  ‘Flash-Crash’ Moves Hit Currency Markets

[I]  Markets Keep Flashing Recession Warnings

[I]  Key Fed Yield Gauge Points to Rate Cuts for First Time Since 2008

[I]  Here's What Most Americans Agree Will Happen in 2019

[I]  Venezuela Oil Exports Slump to a 28-Year Low

 

WALL STREET JOURNAL

[I]  As Government Shutdown Continues, Workers’ Worries—and Bills—Grow

[I]  What Is and Isn’t Affected by the Shutdown

[I]  Tariff Exclusions for Certain Steel Imports Sow Confusion

[I]  The World Is Getting Quietly, Relentlessly Better

[I]  Economy Takes Focus in Second Half of Trump Presidency

[I]  In a Shutdown, IRS Will Take Your Money, but Give No Refunds

[I]  China Is Getting Bubbles, Not Growth, for New Year’s

 

BUSINESS LINE

[I]  Govt introduces Aadhaar amendment Bill in Lok Sabha

[I]  Interest rate subsidy scheme extended to merchant exporters

[I]  GST Council meet may consider rate rationalisation on housing

[I]  Trade unions law to be amended to bring transparency in representation

[I]  Liquidity crunch, higher insurance costs impact two-wheeler sales in Dec

[I]  Weak global prices, poor crop to push cotton imports by 80%

[I]  ‘Intense’ western disturbance to bring rain, snow to North; North-East monsoon ends

[I]  ICRA sees MSMEs rushing to opt for loan-rejig option allowed by RBI

 

ECONOMIC TIMES

[I]  Guess what's next on cards for mobile wallet companies in India

[I]  Here is good news for Indians in US

[I]  SME IPOs make a mark in 2018; record Rs 2,455 crore garnered

[I]  Most Asian currencies decline as factory activity fizzles

[I]  Direct tax-GDP ratio of 5.98% during FY18 best in 10 years: Finance Ministry

[I]  Manufacturing activity slows in December, PMI at 53.2

[I]  Relief for companies facing tax outgo over valuation premiums as government issues clarification

 

BUSINESS STANDARD

[I]  Fuel price slide leads to confusion over margin maths of oil marketing cos

[I]  Investments in 2018: A snapshot of PE activity, deals in 7 charts

[I]  Early-stage funding for start-ups falls 15% to $148 million in 2018

[I]  A fifth of recently listed SMEs see sharp fall in revenue growth after IPO

[I]  Higher digital spends likely to boost IT budgets in 2019, say experts

[I]  Union Cabinet approves proposed amendment to The Trade Unions Act

[I]  RBI MSME loan restructuring plan to help borrowers, state-owned banks

[I]  Cabinet committee clears continuation of umbrella scheme for family welfare

[I]  Merchant exporters to get easier credit under interest equalisation scheme

[I]  Aadhaar Act amended to bar private entities from storing individuals' data

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10862;  USDINR DGCX: 70.2300;  DJIA Mini: 23068;  FTSE 100 Fut: 6653;  NIKKEI 225 Fut: 19900;  EUR-USD: 1.1358; Crude Oil (WTI): 45.84;  Gold (Spot): 1289

 

Best Regards, ARBIND

03 Jan 2019