MACRO ECONOMIC NEWS

BEING LOVED IS A GREAT GIFT; BEING RELIABLE IS POSSIBLY THE GREATEST ONE. WISHING A WEEK OF SELF-TRANSCENDENCE.

Macro Economic News 20 May 2019

 

India exit polls point to clear election victory for Modi. Australian conservatives celebrate ‘miracle’ victory. CBDT allows AMCs to directly manage offshore funds from India. Indian Pre-monsoon rainfall from March to May records a deficiency of 22%: IMD. GST Council may consider national bench of AAAR next month; move to give certainty to taxpayers. Japan GDP posts surprise growth but weak demand still a concern. British Prime Minister Theresa May said she will present a "new, bold offer" to lawmakers with "an improved package of measures" in a final attempt to get the Brexit divorce deal through parliament before she leaves office.

 

FINANCIAL TIMES

[I]  India exit polls point to clear election victory for Modi

[I]  US spy chiefs warn tech companies on China dangers

[I]  Australian conservatives celebrate ‘miracle’ victory 

[I]  Brexit wrangles intrude on EU job allocation

[I]  Global co-operation on cyber security is overdue

[I]  Europe’s political centre must prove its worth

 

REUTERS

[I]  Japan GDP posts surprise growth but weak demand still a concern

[I]  Global dividends hit record in first quarter as companies shake off macro worries

[I]  Miracle win offers Australian PM authority and government stability

[I]  UK PM May to make 'new, bold offer' in Brexit bill, Labour sceptical

[I]  White House 2020 hopefuls turn to foreign policy, slam Trump on Iran

[I]  Saudi Arabia to tax e-cigarettes and more soft drinks

[I]  ECB's Knot says euro zone inflation is not where ECB wants it

 

BLOOMBERG 

[I]  Australian Dollar Climbs as Coalition Retains Power in Election

[I]  Rupee Forwards, Stock Futures Jump as Exit Polls Signal Modi Win

[I]  A $19 Billion Test Is Coming Straight for China's Battered Yuan

[I]  Big Banks Surge in Australia on Morrison's Shock Election Win

[I]  Japan's Unexpected GDP Growth Comes With Reasons for Caution

[I]  Australia's Post-Election Economy, China GDP Revision: Eco Day

 

WALL STREET JOURNAL

[I]  Resistance to Noncompete Agreements Is a Win for Workers

[I]  Economy Week Ahead: Eurozone PMI, New- and Existing-Home Sales

[I]  Who Pays the Trump Tariffs? We Do, These Americans Say

 

BUSINESS LINE

[I]  CBDT allows AMCs to directly manage offshore funds from India

[I]  Shipments to Iran may go down to zero if oil imports are not resumed: Exporters

[I]  FinMin initiates work on full Budget

[I]  Manifestoes for a digital future

 

ECONOMIC TIMES

[I]  India has a Rs 7,500 cr plan to become an AI powerhouse

[I]  Why slowdown in India could be long drawn

[I]  Not taxing e-transmissions costs India $500m annually

[I]  India may witness longer slowdown as oil imports, consumption decline

[I]  New vehicle for long-term infra finance on the anvil

[I]  Fund crunch, land cost may slow down highway projects

[I]  Maharashtra, UP to drive state-led capex in road sector in next 3 years

[I]  ADB plans to fund Rs 30,000 cr Delhi-Meerut rapid rail corridor, 4 metro projects

 

BUSINESS STANDARD

[I]  Oil India likely to exit US, Russia blocks; to stay in Venezuela

[I]  RBI board to hold talks on stressed assets, NBFC regulatory norms

[I]  AAR allows input tax credit by debt settlement under GST regime

[I]  Handing over stuck realty projects to someone else is not a solution: SC

[I]  From arbitration law to labour cases, here're the key court orders

[I]  Pre-monsoon rainfall from March to May records a deficiency of 22%: IMD

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11698;  USDINR DGCX:70.4925;  DJIA Mini: 25828;  FTSE 100 Fut: 7335;  NIKKEI 225 Fut: 21306;  EUR-USD: 1.1160; Crude Oil (WTI): 63.55;  Gold (Spot): 1278

 

Best Regards, ARBIND

20 May 2019