MACRO ECONOMIC NEWS

REAL REJOICING IS RELIGIOUSLY “BEING WITH” THE PERSONS AND CIRCUMSTANCES, AROUND. WISHING A RELISHING DAY AHEAD.

Macro Economic News 17 May 2019

 

RBI directs NBFCs to appoint ‘chief risk officers’. Germany's Angela Merkel reaffirmed that leaving politics after serving her term as chancellor, dismissing speculation her candidacy for a big European Union job. Theresa May wishes to set out a timetable for her departure in early June after the latest attempt to get her Brexit deal approved by parliament. Donald Trump proposed overhauling the U.S. immigration system to favour young, educated, English-speaking applicants. The latest tariff increases on Chinese imports will likely boost to U.S. inflation temporarily, reflecting the relatively small portion of American spending that goes to goods rather than services. The share of U.S. workers born outside the country rose again last year, hitting the highest level in decades, boosted by steady immigration and a drop in the native-born birthrate. Housing starts rose 5.7% in April from the prior month, driven by an uptick in single-family construction across much of the country. Consumer debt and housing worries in Canada eased out.

 

FINANCIAL TIMES

[I]  EU fines five banks €1bn over foreign exchange cartel

[I]  May begins countdown to resignation

[I]  French unemployment falls as reforms continue

[I]  US sets course for its next Middle Eastern war of choice

[I]  The independence of central banks must be respected

 

REUTERS

[I]  Shadow banks must appoint risk officers: RBI

[I]  In nod to 2020, Trump pitches U.S. immigration overhaul 

[I]  Britain's May to agree departure after latest Brexit deal bid

[I]  Indian rice prices slide to seven-month low as demand stalls

[I]  Stung by U.S. sanction threats, EU seeks ways to boost the euro

[I]  With inflation elusive, two Fed policymakers lay out a welcome mat

[I]  IMF: Too early to assess Sri Lanka economic damage from Easter bombings

 

BLOOMBERG 

[I]  Goldman Fund Says Bond Market Has Gone Too Far, Yields Will Rise

[I]  China Cuts U.S. Treasury Holdings to Lowest Level Since 2017

[I]  Iran Says Talks With Trump Possible If U.S. Returns to 2015 Deal

[I]  Lebanon's Latest Brush With Crisis Has Hezbollah Scolding Banks

[I]  Your Cup of Coffee's About to Get Cheaper

[I]  It's All Starting to Look Glum for the Australian Dollar

[I]  Bonds Calling the Shots for Stocks as Rate Cuts Outweigh Trade

 

WALL STREET JOURNAL

[I]  Trump’s Latest Tariffs Likely to Have Only Modest Impact on Inflation

[I]  Foreign-Born Workers Make Up Highest Percentage of U.S. Employment Since 1996

[I]  U.S. Targets Huawei as It Seeks to Revive China Trade Talks

[I]  Silicon Valley Will Feel Sting of Export Restrictions Against Huawei

[I]  Home Building in the U.S. Rose in April

[I]  Fed Officials Reveal More Doubts About Inflation Dynamics, but See Few Solutions

[I]  Canada Consumer Debt, Housing Worries Ease Modestly

[I]  China Says It Doesn’t Know About U.S. Plans for Beijing Trade Talks

 

BUSINESS LINE

[I]  Apex bank directs NBFCs to appoint ‘chief risk officers’

[I]  Handicraft exporters to Iran breathe easy as govt drops documentation requirement for export sop

[I]  Making big accounting firms fall in line

[I]  Met kicks off monsoon watch, trains focus on Andamans

 

ECONOMIC TIMES

[I]  US-China trade war: Is there a silver lining for India?

[I]  Your GST shield may get a new lease of life

[I]  Ecomm biggies log out of deep discounts

[I]  RBI is giving less-cash India another chance

[I]  Trump to propose merit-based immigration system

[I]  More USD–INR swaps can prevent liquidity crisis from worsening

[I]  Niti Aayog bats for ending data monopoly

[I]  National business register: A record of all business enterprises in the country

 

BUSINESS STANDARD

[I]  RBI asks NBFCs with over Rs 5,000 cr assets to appoint chief risk officer

[I]  Indian IT has a talent challenge as engineers flock to global tech centres

[I]  Choosing your company's name? MCA lists examples to avoid any duplication

[I]  Now, a dedicated portal to oversee renewable power sector in India

[I]  Taiwan looks to fast-track FTA talks with India, eyes higher tech exports

[I]  Mid, small-cap stocks bear brunt of market correction, decline 10% in April

[I]  Govt employees to enjoy greater say in how their NPS corpus is invested

 

MARKETS (08:15 am)

[I]  SGX NIFTY Fut: 11290;  USDINR DGCX:70.2950;  DJIA Mini: 25867;  FTSE 100 Fut: 7329;  NIKKEI 225 Fut: 21391;  EUR-USD: 1.1176; Crude Oil (WTI): 63.32;  Gold (Spot): 1285

 

Best Regards, ARBIND

17 May 2019