MACRO ECONOMIC NEWS

SWEET WISHES FOR A VERY SWEET PERSON. WISHING YOU A CHOCOLATEY WEEKEND AHEAD.

Macro Economic News 09 Feb 2019

India could lose a vital U.S. trade concession, under which it enjoys zero tariffs on $5.6 billion of exports to the United States, amid a widening dispute over its trade and investment policies, people with close knowledge of the matter said. Indian bankers say piles of bad debt and the high cost of deposits mean they are unlikely to reduce interest rates on loans by as much as the central bank cut its key lending rate in a bid to spur growth.

Europe’s economy faces a daunting combination of weaker demand for its exports from China and elsewhere, the prospect of a messy divorce with the U.K. and political problems closer to home, the European Union warned. A much-watched experiment in Finland failed to provide evidence that offering people a guaranteed income is the answer to some of the insecurities caused by potentially profound changes in the jobs market.

FINANCIAL TIMES

[I]   Riyadh and Panama added to EU dirty money blacklist 

[I]   Desperation at the border as Venezuelans await aid 

[I]   No-deal Brexit risks rise as UK-Japan talks stall 

[I]   RBA cuts Australia GDP forecast as China slowdown worsens 

[I]   Australia calls emergency meetings amid climate crisis 

[I]   Rent controls are not the answer to the UK housing crisis 

REUTERS

[I]   U.S. considers withdrawal of zero tariffs for India: sources

[I]   Indian consumers cash in their gold jewellery as prices rally

[I]   China calls for peaceful talks to resolve Venezuela issue

[I]   U.S.-China trade talks resume next week, focus on intellectual property

[I]   EU countries agree on copyright reforms, deal in sight next week

[I]   U.S. fund managers brace for consumer slowdown

[I]   India's banks unlikely to match RBI's rate cut any time soon

[I]   China January new bank loans seen surging as PBOC keeps liquidity taps open: Reuters poll

[I]   RBI to cut rates again before elections, but no more: Reuters poll

BLOOMBERG 

[I]   Hedge Funds Start February With the Lowest Stock Exposure in a Year

[I]   What Crash? Big Oil Proves the Crude Price Is Just a Number

[I]   Ending D.C.'s Debt Obsession

[I]   Here's How the Pizza Market Is Shaping Up for Stocks in 2019

[I]   NYC Pensions Invest in Buyout Funds Union Says Profit From Jails

[I]   Three Big Banks Say It's Time to Hedge Against Emerging-Market Risk

[I]   Philippines Ends Budget Standoff, Approves 2019 Spending Plan

WALL STREET JOURNAL

[I]   Number of Workers Striking Across the U.S. Jumped in 2018

[I]   High-Rollers Cool Bets as Chinese Economy Slows

[I]   Experiment With Guaranteed Income Creates Less Stress but No Jobs

[I]   Fed’s Daly Unsurprised Economy Is Growing More Slowly

[I]   Early Data Show Slower Start to Tax Season

[I]   Eurozone Economic Forecasts Slashed

[I]   Trade Uncertainty Sends a Chill Through German Manufacturing

BUSINESS LINE

[I]   State FMs Group favours lowering GST to 5% on residential houses, 3% on affordable housing

[I]   India, Bangladesh ink pact for cooperation in medicinal plants, training civil servants

[I]   Govt, industry need to work together to develop defence equipment tech: Minister

[I]   India’s exports to China set to hit record high as market access widens

[I]   ‘Progress in education must for GDP growth’

[I]   Will SEBI’s new proposals turn building blocks of InvIT/REIT?

[I]   India rises 3 ranks in the Global Corruption Index! Really?

ECONOMIC TIMES

[I]   Ordinances likely on key Bills after session

[I]   Only 61 earn over Rs 100 cr in India

[I]   Indian jewellers stock up; holiday dims activity elsewhere

[I]   Forex reserve again tops $400 billion level

[I]   Angel tax exemption may be hiked to Rs 25 crore

[I]   Auto loans likely to face downside risks on weak CV demand

[I]   India inflation seen speeding up in Jan but still below target

[I]   Government plans capital dose for regional rural banks

[I]   Big push for affordable housing, zero GST on cards

BUSINESS STANDARD

[I]   Tax deducted from bank accounts of start-ups; I-T department clarifies

[I]   Payments industry recommends KYC bureau to Nilekani-led RBI committee

[I]   Direct tax mop-up at Rs 7.88 trillion in April-Jan: Govt informs House

[I]   Unemployment rises across religions, social groups, shows NSSO survey

[I]   Harmonisation of NBFCs to ease regulatory complications, say experts

[I]   High credit-deposit ratio restricts banks' ability to cut interest rates

[I]   Young Indians deserve to be a top priority for the state

[I]   Equity flows in January 43% lower than 12-month average, hit two-year low

Best Regards, ARBIND

09 Feb 2019