MACRO ECONOMIC NEWS

TOGETHERNESS IS THE FIRST INVENTION OF HUMANITY. WISHING A GRATIFYING DAY AHEAD.

Macro Economic News 23 May 2019

 

The Reserve Bank of India (RBI) is concerned about liquidity issues facing some Indian non-banking finance companies (NBFCs) such as mortgage or auto lenders and wants to ensure the problems do not become a systemic issue. Indian govt. plans Rs 1,000-crore fund for startups in priority areas. Many Federal Reserve officials said they expected the recent soft patch in inflation would prove temporary, but several raised concerns at their April 30-May 1 policy meeting about what might happen if price pressures continued to defy expectations by holding at lower levels. May faces cabinet revolt over Brexit deal. Singapore, Canada seek to join WTO consultations over India's ICT products tariff.

 

FINANCIAL TIMES

[I]  May faces cabinet revolt over Brexit deal

[I]  Russia enjoys warm reception in Austria

[I]  EU parliament will seek to dictate Brussels’ priorities

[I]  Trade and supply chains challenge emerging economies

[I]  Germany to spend €40bn to soften blow from coal closures

[I]  US companies face retaliation in China as trade war deepens

[I]  Former currencies star fights to revive hedge fund

[I]  America and Europe are more similar than they think

[I]  British industry needs its own moon shot

 

REUTERS

[I]  India proposes electrifying motorbikes, scooters in 6-8 years - source

[I]  Italy court acquits two ex-Leonardo bosses in India corruption case

[I]  Yen advances as trade woes, Brexit concerns shake investor confidence

[I]  Japan May flash PMI snaps back into contraction as Sino-US trade war escalates

[I]   U.S. could blacklist Chinese surveillance tech firm

[I]  RBI concerned to avert contagion from NBFC liquidity issues: sources

[I]  U.S. Fed may tweak key 'reverse repo' rate - minutes

[I]  Fed officials get a warning about a possible approach to fight the next recession

 

BLOOMBERG 

[I]  Fed Pushes Back Against Rate Cuts That Markets Continue to Seek

[I]  The Trade War's Grip on Currency Markets Tightens

[I]  Trump's Bid to Help Farmers in Trade War May End Up Hurting Them

[I]  China Stocks Are at the Mercy of Foreigners Like Never Before

[I]  Surprise Consequence of Trade War Is Likely Fewer Defaults in China

[I]  Saudi Gas Deal Signals Commitment to Oil Cuts, Brookfield Says

[I]  U.S. Opens Antitrust Probe of Real Estate Brokerage Industry

 

WALL STREET JOURNAL

[I]  Fed Minutes Show Comfort With Make-No-Moves Rate Stance

[I]  In Debate Over Fed Holdings, Officials Seek Maximum Recession-Fighting Firepower

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

[I]  Trump Says He Won’t Work With Democrats Until Probes Are Done

[I]  U.S. Could Run Out of Room on Debt Ceiling in Late Summer

[I]  Fed’s Williams: Doesn’t See Strong Argument to Raise or Lower Rates

[I]  Fed Minutes to Shed Light on Inflation Outlook

 

BUSINESS LINE

[I]  A new job market for farmers is taking root

[I]  Draft of new GST return form unveiled

[I]  Auto sector looks to new govt to get things back on track

[I]  Indian Railways hobbled by delay in rolling stock supply by private firms

[I]  Aluminium-can consumption well below global average: Ball India

[I]  Auto sector looks to new govt to get things back on track

 

ECONOMIC TIMES

[I]  Three-wheelers may have to take green route by 2023

[I]  Animal spirits are stirring again in India

[I]  RBI won't go soft on cash-strapped NBFCs

[I]  Your name & phone number may be on sale

[I]  Government plans Rs 1,000-crore fund for startups in priority areas

[I]  FinMin prepares 100-day agenda for new government; focus on boosting economy, investment

[I]  Merger and acquisition deal value drops 96% to USD 735 million in April

[I]  Singapore, Canada seek to join WTO consultations over India's ICT products tariff

 

BUSINESS STANDARD

[I]  Declining economic growth? Grim Q4 GDP numbers may greet new govt

[I]  EPFO may suspend investment in private sector bonds, say sources

[I]  Boosting private investment to be NITI's focus: Vice-Chairman Rajiv Kumar

[I]  Investors find new formula in pharma as focus shifts from US generics

[I]  Falsity in policy form can lead to claim rejection; check before signing

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11849;  USDINR DGCX:69.7200;  DJIA Mini: 25692;  FTSE 100 Fut: 7301;  NIKKEI 225 Fut: 21108;  EUR-USD: 1.1151; Crude Oil (WTI): 61.07;  Gold (Spot): 1273

 

Best Regards, ARBIND
23 May 2019