MACRO ECONOMIC NEWS

HAPPINESS AND STUPIDITY MAKE AN AWESOME BLEND, ESPECIALLY ON FRIDAY. WISHING A DAY OF RAINING DELIGHT.

Macro Economic News 05 Jul 2019

 

Rs Two lakh crore projects proposed in 100 cities in India. India’s government forecast that economic growth could get back up to 7% percent this year, but cautioned it will face challenges keeping its fiscal deficit in check. India needs $330 billion in investments over the next decade to power its renewable energy dream, but coal would remain central to its electricity generation. African leaders will decide on Sunday which nation will host the headquarters for a continental free-trade zone that aims to eventually unite the continent's 1.27 billion people and its $3.4 trillion nominal gross domestic product. Christine Lagarde first big challenge as European Central Bank president would be to win over skeptics in her next home country: Germany. The U.S. private sector added 102,000 nonfarm jobs for June, less than economists were expecting, with growth hurt by small businesses.

 

FINANCIAL TIMES

[I]  Chinese studios impose informal ban on American actors

[I]  Private equity builds firepower for property slump

[I]  Tusk urges new EU leadership to co-operate with Greens

[I]  IMF approves $6bn Pakistan bailout package after austerity budget

[I]  North Korea accuses US of hostility despite Trump visit

[I]  European financial services leads charge on women directors

[I]  Democracy is already foundering in US and UK

 

REUTERS

[I]  Indian government warns of aging population; says retirement age should rise, schools merge

[I]  United States adds India to steel tariff dispute at WTO

[I]  Japan's May household spending rises at fastest pace in 4 years

[I]  UK hirings fall again as Brexit uncertainty mounts: REC

[I]  UK retailers suffer 'washout' in June: survey

[I]  UK firms, waiting for Brexit, turn more gloomy about economy: survey

[I]  India plans $330 billion renewables push by 2030 without hurting coal

[I]  Explainer: Africa to decide on free-trade zone: what’s at stake?

[I]  ECB needs to provide more stimulus to live up to mandate - Rehn

[I]  U.S. and 15 others slam EU regulation of farm products at WTO

[I]  China says existing U.S. tariffs must be removed for a trade deal

 

BLOOMBERG 

[I]  China's Buildings Are Watching How People Shop, Cook and Steal

[I]  China Bond Defaults Are Looking Less Scary. Why That Won’t Last

[I]  More Joy for Emerging Markets Now Hinges on Fed, Survey Shows

[I]  Chinese Outbound M&A Plummets as Trade War Keeps Companies at Home

[I]  ‘Stressful Spring’ Has Ontario Farmers Worried About Crop Conditions

[I]  South Africa Treasury Vows to Respect Central-Bank Independence

[I]  Turkey Sends 5-Year Economic Plan to Erdogan for Approval

[I]  Inequality Highlighted as 10% of Workers Get Half of All Pay

[I]  South Africa’s Licensing Boom Catches Bank Regulator by Surprise

[I]  Euro-Area Slowdown Is No Longer Temporary, ECB’s Rehn Says

[I]  Draghi May Have Italy Risk on His Mind With Fresh Stimulus

 

WALL STREET JOURNAL

[I]  Lagarde’s First Job as ECB Boss: Sway Germany

[I]  Judy Shelton, a Goldbug Who Bends to Fit Trump

[I]  Latest Trump Fed Picks Could Face Easier Confirmation Prospects

[I]  After Months of Floods and Tornadoes, Officials Tally Billions in Damage

[I]  China Knows What It Wants—the U.S. Still Doesn’t

[I]  U.S. Private Sector Added 102,000 Jobs in June

 

BUSINESS LINE

[I]  A blueprint for a $5-trillion economy

[I]  As India begins to grey, workplace policies may have to change

[I]  The focus is on the big picture, says CEA Subramanian

[I]  Monsoon pares deficit after strong spell over Central India

[I]  Minimum wage system needs to be revamped

[I]  Private investment in agriculture is falling

[I]  8% GDP growth rate is achievable, says PM’s economic council head

[I]  Right policy levers needed to crank up growth to 8%: India Inc

 

ECONOMIC TIMES

[I]  10 key pointers for Sitharaman's Budget from Economic Survey

[I]  What India needs to be a $10-tn economy

[I]  India at $5 trn: The Economic Survey decoded

[I]  Govt may further ease FDI norms to bridge current account deficit: Economic Survey 2019

[I]  Economic Survey 2019: Foreign capital key to India's growth, says CEA

[I]  Maharashtra ranks first in NITI Aayog's ease of doing farm business

[I]  View: Where India can find a cool $1 trillion

[I]  Smart City: Rs 2.05 lakh crore projects proposed in 100 cities, significant progress made, says Survey

 

BUSINESS STANDARD

[I]  Infrastructure over incentive to promote electric vehicles: Economic Survey

[I]  Economic Survey calls for coordinating body for resource efficiency

[I]  Increase in retirement age could be considered, says Economic Survey

[I]  Divestment to make up for tax-revenue shortfall this year: CEA Subramanian

[I]  Financial creditors recover more under IBC, says Economic Survey

[I]  Economic Survey bats for a 'rationalised' tax regime to boost start-ups

[I]  Economic Survey calls for 'sunset' clause on policy incentives to MSMEs

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11979;  USDINR DGCX: 68.7750;  DJIA Mini: 26991;  FTSE 100 Fut: 7539;  NIKKEI 225 Fut: 21630;  EUR-USD: 1.1281; Crude Oil (WTI): 56.72;  Gold (Spot): 1418

 

Best Regards, ARBIND

05 Jul 2019