MACRO ECONOMIC NEWS

COLOURS ARE ADOLESCENT SMILE OF NATURE. WISHING A YOUTHFUL DAY AHEAD.

Macro Economic News 12 Mar 2019

                                                                                                                                                       

The White House released a $4.7 trillion budget that proposed sharply reducing spending on safety-net programs, while boosting defense and border-protection funding. Consumer spending recovered only modestly at the start of the year, signalling a slowdown in economic growth between the fourth and first quarters. Russia is taking advantage of opaque corporate registration laws, permissive tax environments and uneven anticorruption practices to expand its economic footprint in Western Europe despite U.S. and European sanctions, according to a new report. The Turkish economy shrank at the end of 2018 and looks set to contract further this year.

 

FINANCIAL TIMES

[I]  Turkey falls into recession as lira crisis takes toll

[I]  Norway’s oil fund shake-up raises hackles

[I]  Trump’s budget raises spectre of government shutdown

[I]  German industrial production drops unexpectedly

[I]  Rome vetoes UAE inclusion on EU tax haven blacklist

[I]  May arrives for last-ditch Brexit talks with Juncker

[I]  New Zealand plans laws to curb foreign influence

[I]  UK still leads EU millionaire banker list despite Brexit

 

REUTERS

[I]  China's economy shows improving trend in January-February: statistics bureau chief

[I]  Global Markets: Pound soars, Asian shares rally after Brexit deal changes

[I]  China's economy shows improving trend in January-February: statistics bureau chief

[I]  Last chance? Theresa May wins Brexit assurances from EU on eve of crucial vote

[I]  Desperate Venezuelans swarm sewage drains in search of water

[I]  'Absurd' to say Trump unreliable trade negotiator with China - White House

[I]  Foreigners turn into buyers of Indian shares ahead of elections

[I]  U.S. energy exports a lever in trade talks with China: Perry

 

BLOOMBERG 

[I]  Pound Jumps as May Gets New Brexit Deal Ahead of Parliament Vote

[I]  S&P Says Next Global Downturn Unlikely to Be as Severe as 2008-2009

[I]  Japan's Manufacturers Say Business Conditions the Worst in Years

[I]  Fear of Trump Walking on Xi Haunts China as Trade Talks Near End

[I]  Chinese Money Expected to Revive Thai Baht at Ringgit's Expense

[I]  Malaysia's Stock Market Is Asia's Only Loser of 2019

[I]  This Is the New Brexit Deal the U.K.'s Theresa May Got From the EU

[I]  U.S. Heavy Crudes Surge on Extended Saudi Cuts, Venezuela Woes

[I]  Global Growth Slowest Since 2009, $1 Trillion Deficits: Eco Day

[I]  Korea Inc. Sells Most Bonds Since '12 as Slow Economy Looms

 

WALL STREET JOURNAL

[I]  White House Proposes $4.7 Trillion Budget for Fiscal 2020

[I]  White House Proposes to Cut Labor Department Funding by Nearly 10%

[I]  Retail Sales Rose Modestly in January

[I]  Russia’s Economic Clout in Europe Grows Despite Sanctions, Study Says

[I]  Turkey’s Shrinking Economy Poses a Challenge to Erdogan

 

BUSINESS LINE

[I]  With rising NPAs, banks take foot off pedal on Mudra loans

[I]  Recognising young minds with innovative ideas for society

[I]  Lack of policy clarity threatens to dim solar power sector: Crisil report

[I]  What impact will SBI move have on depositors and borrowers?

 

ECONOMIC TIMES

[I]  Time to solve India's tax litigation mess

[I]  Banks plan to have new benchmark model for deposit & lending rates

[I]  Govt may miss disbursal target of Rs 3 lakh crore Mudra loans

[I]  Saudi Arabia to cut oil exports in April: Official

[I]  Companies grooming domain experts for leadership roles

[I]  Asian Business Leadership Forum brings India-UAE ties in focus

[I]  Views: It's time to solve India's huge tax litigation problem

 

BUSINESS STANDARD

[I]  Foreign fund inflow propels markets to 6-month peak, rupee to 2-month high

[I]  Cold wave across US to bring big business for Indian drug companies

[I]  Govt decides to return to drawing board on proposed industrial policy

[I]  RBI inching towards becoming tenth largest holder of gold worldwide

[I]  PSBs, private banks divided over linking rates to external benchmark

[I]  On recovery path after a year, cement prices see a 6% jump

[I]  White House proposes $4.7 trillion Budget for fiscal 2020

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 11283;  USDINR DGCX: 69.7700;  DJIA Mini: 25776;  FTSE 100 Fut: 7131;  NIKKEI 225 Fut: 21559;  EUR-USD: 1.1258; Crude Oil (WTI): 57.07;  Gold (Spot): 1296

 

Best Regards, ARBIND
12 Mar 2019