MACRO ECONOMIC NEWS

LET THE LIGHT LIGHTEN UP EVERY MIND TO ENLIGHTEN EVERY HEART FOR DELIGHTING EVERY HUMAN. WISHING A LIGHT DAY AHEAD.

Macro Economic News 28 Feb 2019

                                                                                                                                                       

The U.S. trade deficit in goods widened 10% last year, growing despite the Trump administration’s efforts through tariffs and other measures to make it smaller. In the strongest sign yet that an accord is near, U.S. Trade Representative said the U.S. was abandoning for now its threat to raise tariffs to 25% on $200 billion of Chinese goods. President Trump entered office determined to stop what he considered unfair practices by China. But he may now be tempted to settle, like his predecessors, for less-than-ironclad commitments. European businesses have eased back on borrowing as they become gloomier about their prospects in the face of a raft of uncertainties, including the possibility of a no-deal Brexit.

 

FINANCIAL TIMES

[I]  Pakistan and India face worst conflict in decades

[I]  Venezuela’s top talent seeks sanctuary in Spain

[I]  US and China settle on trade enforcement process

[I]  Ireland’s data regulator lists 16 Big Tech investigations

[I]  N Korea touts for investment ahead of summit

[I]  Surveillance from the sky may help to fight modern slavery

[I]  UK can emulate key accounting reforms of Sarbanes-Oxley Act

[I]  EU must solve low growth and defence weaknesses

 

REUTERS

[I]  World urges restraint as India, Pakistan trade blows over Kashmir

[I]  China February factory activity shrinks to three-year low, export orders worst in a decade

[I]  BOJ's Suzuki warns of more trouble for banks from weaker economy

[I]  Risk of more India, Pakistan military action unacceptably high: U.S. official

[I]  Cohen: Trump feared audit if he released tax returns

[I]  China's services activity cools in February: official PMI

[I]  Bank of Korea holds rates as growth risks rise, to sit tight for while

[I]  U.S. trade chief sees long-term China challenges, continued tariff threat

[I]  Japan's factory output posts biggest fall in a year, outlook sags

 

BLOOMBERG 

[I]  Asia Stocks Slip as China PMI Data Dents Sentiment: Markets Wrap

[I]  Trade Truce May Throw Up a Surprise Winner: the Singapore Dollar

[I]  The ETF Finding Value in Emerging Markets

[I]  Ugly Batch of Tech Earnings Sends Shares Tumbling After Hours

[I]  China’s Factory Downturn Deepens Though Upside Signs Appear

[I]  China’s Yield Curve Steepens. A Good Sign for Growth? Not Quite

[I]  Australian Home Lending Now Weakest Since Reagan-Thatcher Era

[I]  U.K. Business Confidence Hits a Seven-Year Low Ahead of Brexit

[I]  U.S. Sanctions on Venezuela Are a Blessing to Colombian Oil

 

WALL STREET JOURNAL

[I]  U.S. Drops Threat of 25% Tariffs on Chinese Goods

[I]  U.S. Trade Gap in Goods Widened 10% in 2018

[I]  On China, Trump Risks a Repeat of Bush and Obama

[I]  Fed’s Powell Says Officials Close to Finalizing Portfolio-Runoff Plan

[I]  U.S. Pending Home Sales Rose 4.6% in January

[I]  Europe’s Slowing Economy Puts Businesses on the Back Foot

[I]  Slowing Home Price Growth and Construction Hit Housing Market

[I]  Powell Affirms Patient Approach to Interest-Rate Changes

 

BUSINESS LINE

[I]  Decoding the Ordinance on unregulated deposit schemes

[I]  Centre in talks with UN Environment Fund for soft loans for compressed biogas projects

[I]  PE deals grew 36% y-o-y in January, says Grant Thornton

[I]  Govt’s $7-b recap plan for PSBs not sufficient to spur loan growth: Fitch

[I]  Awareness of Ayushman Bharat scheme still low in TN

[I]  What the ordinance on unregulated deposit schemes means to individuals, businesses

 

ECONOMIC TIMES

[I]  Dollar stands tall amid caution over Sino-US trade talks

[I]  Banks sell bonds over SLR cap at fastest pace in 3 years

[I]  Bond veteran sees good days for Indian debt only in second half

[I]  India’s GDP growth seen at 6.7-7.2% in 3rd quarter

[I]  To save capitalism, we need to save communities: Raghuram Rajan

[I]  India's economy seen losing momentum ahead of election

[I]  All about the Unregulated Deposit Schemes Ordinance

[I]  Panel to overhaul Direct Tax law seeks 3 months extension

[I]  Bad populism is the ‘road to serfdom’ for economies: Raghuram Rajan

 

BUSINESS STANDARD

[I]  Pakistan airspace a no-go, airlines in spot over cost of diverting flights

[I]  Finance Ministry asks direct tax code panel to revise existing I-T slabs

[I]  Late-stage fundraising for start-ups may be hit as tech stocks fall: Survey

[I]  Centre proposes agricultural power lines, but some states don't agree

[I]  CBDT chairman tells taxmen to boost collection without harassing taxpayers

[I]  Currency in circulation may touch around Rs 20.9 trillion by FY19

[I]  Far from reducing imports, India's oil and gas production has slumped

[I]  High inventory with channel partners to jolt farm input firms next season

[I]  Working hours in India one of the highest in the world, shows NSSO report

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 10844;  USDINR DGCX: 71.4825;  DJIA Mini: 25987;  FTSE 100 Fut: 7082;  NIKKEI 225 Fut: 21465;  EUR-USD: 1.1377; Crude Oil (WTI): 56.92;  Gold (Spot): 1319

 

Best Regards, ARBIND

28 Feb 2019