MACRO ECONOMIC NEWS

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Macro Economic News 28 May 2019

 

India's slowing economic growth is of serious concern and the country needs to urgently cut tax and interest rates to revive the economy - FICCI. The US pressed Japan to even out a trade imbalance with the US. President Trump pivoted last week, lifting tariffs on metal imports from Canada and Mexico while delaying tariffs on autos from the European Union and Japan. The opaque process for finding a successor to European Central Bank President Mario Draghi is coming under scrutiny as the region faces economic and political turmoil.

 

FINANCIAL TIMES

[I]  France and Germany clash over future EU leadership

[I]  Beijing’s relentless campaign to end poverty

[I]  Brexit party’s storming win ramps up no-deal pressure

[I]  Trump welcomes Japan’s efforts to improve Iran relations

[I]  US trade hawk hunts bigger fish in Trump’s China battles

[I]  US immigration reforms fail to help overseas MBA students

[I]  Elections have created a more fragmented European legislature

 

REUTERS

[I]  Economy big worry for Modi, needs stimulus: FICCI

[I]  China plans more foreign access to futures markets: securities regulator

[I]  China dreams on hold: heartland city feels chill of economic slowdown

[I]  Trump presses Japan over trade gap, expects 'good things' from North Korea

[I]  Macron, Merkel seek common ground on EU Commission president pick: official

[I]  Exclusive: Kuwait oil minister sees balanced oil market towards end 2019

[I]  China auto sales to show flat growth in 2019: Xinhua

[I]  Trade War's $600 Billion Hit, EU Rejects Car-Quota Push: Eco Day

[I]  You Can Still Buy a House With Gold Bars in Vietnam

 

BLOOMBERG 

[I]  India Shadow Lenders Face a Margin Squeeze From RBI Guidelines

[I]  Oil Advances as Supply Risks Help Offset Trade War Concerns

[I]  Trade War's $600 Billion Hit, EU Rejects Car-Quota Push: Eco Day

[I]  Chile's Central Bank Considers Cut In Midst of Venezuelan Immigration Influx

[I]  Bonds Are From Mars and Stocks From Venus for Investors in Gulf

[I]  German Banks Face Higher Capital Buffer Amid Low Profitability

[I]  Asian Stocks Drift, U.S. Yields Near 19-Month Low: Markets Wrap

[I]  Trump Cites Progress in Japan Ahead of Address to U.S. Troops

[I]  Investors Scour Emerging Markets in Search for Trade War Gains

[I]  Italy Seeks ECB Board Seat to Push for Infrastructure Investment

[I]  Kenya Central Bank Keeps Benchmark Interest Rate Unchanged at 9%

 

WALL STREET JOURNAL

[I]  Haggling Begins Over Who Will Succeed ECB’s Mario Draghi

[I]  Trade Tension Deals Tractor Makers a Fresh Blow

[I]  Economy Week Ahead: Consumer Confidence, GDP

[I]  U.S. Weighs Letting Companies Seek New Penalties Over Currency Manipulation

[I]  ‘Generation Jobless’ Looks Back on How Financial Crisis Shaped Careers

[I]  Poor Manufacturing Orders Point to Slower Economic Growth

[I]  On China, Trump Leads a Coalition of the Unwilling

[I]  Real Time Economics: Trade Fight Spurs Aid to Farmers, Theresa May to Resign

 

BUSINESS LINE

[I]  Telangana priming for tech glory with first Blockchain district

[I]  India Inc pitches for lower tax rates in Budget

[I]  With glut of equipment, wind-energy sector wants Centre to push exports

[I]  India needs to double its installed power-generation capacity: official

[I]  Growth likely to be below 7% in FY19: research agencies

[I]  Market regulator tightens the noose on debenture trustees to protect investors

[I]  Trade pacts in an age of data flows

[I]  India’s mobile internet speeds dip in April, global ranking falls to 121

 

ECONOMIC TIMES

[I]  Government likely to introduce electronic invoice system under GST

[I]  India Inc seeks lower taxes, banking reforms, continuity of fiscal recovery

[I]  How India can capitalise on US-China trade war

[I]  National Statistical Commission to get more teeth in 100 days

[I]  GDP growth in Q4 likely to moderate to 6.1-5.9%, may lead RBI to cut rates: SBI report

[I]  Last-mile connectivity crucial to realising digital dream

 

BUSINESS STANDARD

[I]  Debt recast: RBI likely to relax voting threshold of lenders to 90%

[I]  NBFCs show fresh interest in on-tap licences, initiate talks with RBI

[I]  Centre to bite the bullet on labour reforms, wage code Bill first priority

[I]  Average taxpayer will need to work over 300 years to match an MP's assets

[I]  541 start-ups got angel tax exemption so far, says industry secretary

[I]  New H1B visa norms may affect Indian IT companies' margins in FY20

[I]  MCA prepares a list of offenders to prevent them from fleeing country

[I]  Industry demands fiscal stimulus in Budget to spur economic growth

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11931;  USDINR DGCX:69.5350;  DJIA Mini: 25690;  FTSE 100 Fut: 7297;  NIKKEI 225 Fut: 21270;  EUR-USD: 1.1184; Crude Oil (WTI): 59.17;  Gold (Spot): 1282

 

Best Regards, ARBIND

28 May 2019