MACRO ECONOMIC NEWS

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Macro Economic News 01 Jan 2019

 

India's finance ministry has exempted rupee payments made to the National Iranian Oil Co for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. The move may help India fix its trade balance, which is currently tilted in favour of Iran. Americans are carrying more consumer debt than ever before but so far don’t seem to be having much trouble managing it.

 

FINANCIAL TIMES

[I]  Turkish groups seek bankruptcy protection amid slowdown 

[I]  FT poll: political risk set to cut eurozone growth

[I]  Time to base currencies on a unit of energy

[I]  Riskier debt is falling out of fashion

[I]  Whole audit profession accepts the need for change

 

REUTERS

[I]  Rupee payments for Iran oil exempted from hefty taxes

[I]  China 2018 movie box office revenue growth slows

[I]  U.S. Mint American Eagle 2018 gold, silver coin sales at 11-year lows

[I]  Oversupply, faltering growth to weigh on oil prices in 2019: poll 

[I]  Indian banks' bad loans may decline further by March

[I]  Asian shares post sharpest losses in seven years in 2018

 

BLOOMBERG 

[I]  South Korea Trade Slips in Another Bearish Sign for World Economy

[I]  May Urges Britons to Put Brexit Divides Aside in ‘New Chapter’

[I]  The Fed Is Fighting for Control of Its Key Interest Rate

[I]  China Slowdown Continues With Factory Gauge at Lowest Level Since 2016

[I]  Canadian Stocks Close Out Worst Year Since 2008 With a Gain

[I]  U.S. Gulf Refiners Feast on Domestic Oil

 

WALL STREET JOURNAL

[I]  U.S. Indexes Close With 2018 Losses

[I]  House Democrats Lay Out Plan to Reopen Government by Carving Out Wall Fight

[I]  Retraining Programs Fall Short for Some Workers

[I]  U.S. Economy Fuels Boom in Consumer Debt

[I]  U.S. Presses China on Trade Proposals

[I]  U.S. Consumer Confidence Fades in December

[I]  North Korea Built an Alternative Financial System Using a Shadowy Network of Traders

 

BUSINESS LINE

[I]  RBI sees banking sector ‘on course to recovery’

[I]  Rs. 75-lakh threshold could help over 60 lakh MSMEs escape GST net

[I]  PE investments soar to $33 billion in 2018

[I]  Economy likely to do better in 2019

[I]  Weather holds New Year surprise for North

[I]  RBI rings in New Year cheer to NBFCs, HFCs

 

ECONOMIC TIMES

[I]  EPFO may give you more stock play next year

[I]  Investors lost Rs 7.25 lakh cr to a moody mkt

[I]  The uncertain waters that await RBI in 2019

[I]  Govt infuses Rs 10,882 crore capital in four PSU banks

[I]  Farm woes to take centrestage as poll battle looms

[I]  India's external debt declines 3.6% to $510.4 billion at Sept-end

[I]  Core sectors' output growth hits 16 month low at 3.5% in November

 

BUSINESS STANDARD

[I]  Banking system getting back to health as NPAs on the decline: RBI report

[I]  Brands must step out of bubble to cater to everything everywhere customer

[I]  Realty developers struggle to sell homes, but boom in office space segment

[I]  Situation could be serious for banks if top group borrower defaults: RBI

[I]  More steps on anvil to boost farmers' income: Agriculture minister

[I]  RBI stress test shows banks' asset quality might improve in 2019

[I]  Asset Reconstruction Companies to scale up operations in Indian banks

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 10922;  USDINR DGCX: 69.7500;  DJIA Mini: 23268;  FTSE 100 Fut: 6659;  NIKKEI 225 Fut: 19900;  EUR-USD: 1.1466; Crude Oil (WTI): 45.41;  Gold (Spot): 1283

 

Best Regards, ARBIND

01 Jan 2019