MACRO ECONOMIC NEWS

TRUST THIS DAY ENABLES US TO START WHERE WE ARE, WHERE WE CAN AND WITH WHAT WE HAVE. WISHING A TRUSTFUL DAY AHEAD.

Macro Economic News 24 Jan 2019

 

Business and political leaders meeting in Davos, Switzerland for the World Economic Forum are worried about global growth and the political impact of an economic slowdown. China’s trade dispute with the U.S., Brexit, Italian fiscal troubles and a fall in German industrial production are all signs of the sweep of a brewing synchronized global slowdown. A year ago the world looked like it would finally return to the boom times it enjoyed before the global financial crisis. Now, the boom may be over before it even started. Lenders are turning to borrowers with harder-to-document finances, helping drive growth in the kind of home loans that helped fuel the housing meltdown.

 

FINANCIAL TIMES

[I]  China’s vice-president dismisses growth fears

[I]  Big Four auditors told not to subvert switching rules

[I]  Capital raising by US oil companies falls sharply

[I]  Nigerian presidential hopeful vows to rewrite oil deals

[I]  Paris vows to extend labour reforms despite ‘gilets jaunes’

[I]  Pakistan plans reforms in move for IMF aid

[I]  China bad debt disposals hit levels not seen for 20 years

[I]  Europe can break the Brexit impasse

 

REUTERS

[I]  U.S. weighs oil sanctions on Venezuela as it steps up pressure

[I]  Dollar slips on global growth, trade war worries

[I]  Japan's factories flatline in January as exports fall most in 2-1/2 years-flash PMI

[I]  U.S. government shutdown to crimp growth, recession risk steady: Reuters poll

[I]  China says can achieve sustainable economic growth

[I]  U.S. oil firms tell OPEC their growth will slow

[I]  Abe to put trade, climate at top of G20 to-do list

[I]  Merkel calls for global cooperation to reach 'win-win outcomes'

 

BLOOMBERG 

[I]  The Big Oil Agencies’ Verdict on OPEC+ Pact: Glut Averted

[I]  Bank of Korea Stands Pat on Interest Rates

[I]  Venezuela Bond Investors Say the End May Be Near for Maduro's Regime

[I]  Prolonged Shutdown Risks Tarnishing Appeal of Dollar, Treasuries

[I]  China Vice President Pledges Continued, Sustainable 2019 Growth

[I]  The Shutdown Is Giving Giant Agriculture Traders an Edge

[I]  Zero U.S. Growth, Davos Defends Order, China's Pledge: Eco Day

 

WALL STREET JOURNAL

[I]  The Global Boom, Barely Begun, May Be Over

[I]  The Political Effects of the Global Economic Slowdown

[I]  No Pay Stub? No Problem. Unconventional Mortgages Are Back

[I]  Home Sales Sank 6.4% in December

[I]  The World Braces for Slower Growth

[I]  Central Banks Struggle With Policy Settings

[I]  U.S. Manufacturers Ramp Up Production Despite Flagging Exports

 

BUSINESS LINE

[I]  Industry’s fears about new labelling regulations unfounded: FSSAI CEO

[I]  National bench of GST appellate tribunal gets Cabinet approval

[I]  Railways to recruit 1.3 lakh people; 13,000 hires to be made under 10% EWS quota in first phase

[I]  Prices in contracts cannot be revised due to change in tax structure post-GST, rules HC

[I]  More funds for N-E autonomous district councils

[I]  VCs/PEs move to exorcise the Angel Tax devil

[I]  Coffee output seen inching up 1% to 3.19 lakh tonnes

[I]  Now, Govt may allow NRIs to subscribe to municipal bonds

[I]  India ranked 80th on Global Talent Index

 

ECONOMIC TIMES

[I]  GST, infra, higher spending top food-processing industry’s wish-list for govt

[I]  Government plans to link 22000 mandis with e-NAM platform by 2022

[I]  India's GDP growth may improve to 7.3% in FY20: Crisil

[I]  India's industrial activity likely to remain subdued in near term: Report

[I]  IRDAI: The key that can give India access to infra funds worth $4.5 trillion

[I]  India to spend 6.5% more on food subsidies in FY 2019-20: Sources

[I]  Government forms GST appellate tribunal for dispute resolution

 

BUSINESS STANDARD

[I]  New rule will give surplus reserves of Sebi, pension regulator to govt

[I]  Two-wheeler sales in the slow lane in Jan on rural distress, tepid demand

[I]  PSBs put Rs 1-trn bad loans on sale as delays plague bankruptcy proceedings

[I]  Secondary steel producers to play big role for 300 mn tonne industry

[I]  Water crisis could worsen India's bad loan problem, says WWF report

 

MARKETS (07:45 am)

[I]  SGX NIFTY Fut: 10860;  USDINR DGCX: 71.2050;  DJIA Mini: 24515;  FTSE 100 Fut: 6773;  NIKKEI 225 Fut: 20513;  EUR-USD: 1.1385; Crude Oil (WTI): 52.33;  Gold (Spot): 1283

 

Best Regards, ARBIND

24 Jan 2019