MACRO ECONOMIC NEWS

YOU CAN CALM THE STORM AND REJOICE THE SILENCE. WISHING AN EXALTED DAY AHEAD.

Macro Economic News 08 Jan 2019

 

The Reserve Bank of India is likely to transfer an interim dividend of 300-400 billion rupees ($4.32 billion-$5.8 billion) to the government by March. U.S. services sector activity slowed to a five-month low in December, but remained above a level consistent with solid economic growth in the fourth quarter. The pace of growth across most of the U.S. economy slowed by more than expected in December, although activity continued to expand at a healthy rate.

 

FINANCIAL TIMES

[I]  Eurozone growth forecasts at fresh lows

[I]  Migration spat stokes tensions within Italy’s coalition

[I]  EU reforms to tighten rules on investment firms

[I]  Germans lose trust in social institutions

[I]  China turns up heat on individuals using foreign websites

[I]  US business confidence in global economy plunges

[I]  EU’s wilful blindness to sovereign risk adds to eurozone danger

 

REUTERS

[I]  RBI says it is open to liquidity needs, ahead of shadow banker meeting

[I]  Oil prices rise on trade talk optimism, OPEC cuts

[I]  North Korea leader visits China after warning of alternate path to U.S. talks

[I]  No talks planned on U.S. metals tariffs after Trudeau-Trump chat  

[I]  RBI likely to pay bumper interim dividend to help government

[I]  UK's no-deal Brexit truck 'war game' prompts scorn

[I]  U.S. services sector growth hits five-month low

[I]  Industrial orders fall in latest sign of German economic slowdown

 

BLOOMBERG 

[I]  Fed Board Nominee Nellie Liang Withdraws From Consideration

[I]  Big Electoral Battle May Prompt India Firms to Rush Bond Sales

[I]  Fed's Bostic Trims His Rate Outlook for 2019 to a Single Hike

[I]  China Is Said to Buy More U.S. Soy as Trade Talks Kick Off

[I]  Big Electoral Battle May Prompt India Firms to Rush Bond Sales

[I]  Bonds Rally May Have Run Its Course, India's Oldest Fund Says

[I]  U.S.-China Optimism, Fed's Bostic, Indonesia Reserves: Eco Day

 

WALL STREET JOURNAL

[I]  Tax Refunds Will Be Paid During Shutdown, White House Says

[I]  World Bank President Resigns to Join Investment Firm

[I]  U.S. Service-Sector Growth Slowed in December

[I]  U.S. Pushes China to Follow Through on Trade Promises

[I]  Tariffs Seen Raising Prices, Costing Jobs

[I]  Trump to Appeal to Public in Push for Border Wall

[I]  Cleveland Fed’s Mester Expects Higher Rates, But Sees No Urgency

 

BUSINESS LINE

[I]  2019 will give a true picture of rising consumer demand

[I]  Statistics Office pegs GDP growth at 7.2%, lower than RBI’s estimate

[I]  There’s a need to break barriers, says Norwegian trade official

[I]  Direct taxes collection up 14% in Apr-Dec

[I]  IT sector: Secular growth visible

[I]  Water woes: Cotton crop to be lowest in 8 years

[I]  Rain, snow in North India may resume mid-week

[I]  PE investments rise 36% to $33 billion in 2018

 

ECONOMIC TIMES

[I]  How NBFCs are pushing for retail borrowings

[I]  Oil rises on trade talks, supply cuts, but slowdown looms

[I]  Skill gap puts $1.97 trillion growth at risk in India: Report

[I]  Watch: RBI guv on liquidity crunch, support for MSME sector

[I]  New national policy for domestic workers being drafted, 40 lakh to benefit

[I]  Generalised farm loan waiver impacts credit culture, says RBI Governor

 

BUSINESS STANDARD

[I]  Liquidity infusion will not be 'easy money': RBI Governor Shaktikanta Das

[I]  Govt pegs FY19 GDP growth at 7.2%; estimate lower than RBI prediction

[I]  MSMEs demand a time period for loan sanctions and relaxed norms

[I]  India's agriculture growth not helping farmers, prices at 10-year low

[I]  Slowdown in sugar exports a major headache for inventory-saddled industry

[I]  Report by JPC on Citizenship Amendment Bill tabled in Lok Sabha

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10809;  USDINR DGCX: 69.9850;  DJIA Mini: 23605;  FTSE 100 Fut: 6774;  NIKKEI 225 Fut: 20199;  EUR-USD: 1.1452; Crude Oil (WTI): 48.73;  Gold (Spot): 1285

 

Best Regards, ARBIND

08 Jan 2019