MACRO ECONOMIC NEWS

LOVE IS THE LAW OF GOD. WISHING AN ARDENT DAY AHEAD.

Macro Economic News 23 Jul 2019

 

India launched a rocket into space in an attempt to safely land a rover on the moon, its most ambitious mission yet in the effort to establish itself as a low-cost space power. An Indian government panel has recommended banning all private cryptocurrencies and a jail term of up to 10 years and heavy fines for anyone dealing in digital currencies, which could signal the end of them in India. An increase in government borrowing runs the risk of flooding the debt market, while making it expensive for companies to borrow, according to outgoing Reserve Bank of India Deputy Governor Viral Acharya. Stalling UK economy risks recession as Brexit nears: NIESR. Debate rages over recession in Mexico. Chinese Property Bonds' Time in the Sun May Be Coming to an End.

 

FINANCIAL TIMES

[I]  India launches first lunar mission since 2008

[I]  France urges IMF age-cap rethink to fill Lagarde job

[I]  UK calls for European alliance to guard Gulf shipping

[I]  UK engulfed in dangerous tit-for-tat with Iran

[I]  Ireland defends bank pay curbs despite industry blowback

[I]  Formulating AI values is hard when humans don’t agree

[I]  ‘Non-deal’ Brexit is the most damaging of all

 

REUTERS

[I]  India's moon mission Chandrayaan-2 lifts off, hopes to probe lunar south pole

[I]  Trump, Congress leaders reach deal on debt limit, spending caps

[I]  Crisis shows that Britain no longer rules the waves

[I]  Global Markets: Easing hopes prop up global stocks, pound sags as Britain eyes new PM

[I]  Rise in India government borrowing can weigh on corporate sector - RBI's Acharya

[I]  India government wants antitrust review of Big Four accountants: source

[I]  RBI's Shaktikanta Das says change in stance as good as additional 25 bps rate cut - reports

[I]  India set for record edible oil imports as scanty rains trim output: analyst

[I]  Stalling UK economy risks recession as Brexit nears: NIESR

[I]  'I've got other numbers!' Debate rages over recession in Mexico

 

BLOOMBERG 

[I]  Speculators Are at Odds With Asset Managers on Near-Term Fed Bets

[I]  There Are Green Lights All Over the Place for U.S. Stock Bulls

[I]  Banker Bonuses Face Crackdown in Australia After Scandals

[I]  Europe Wants to Keep the IMF. Here’s How Its Likely Picks Fare

[I]  RBA Says Banks Can Hold More Bonds to Meet Liquidity Requirement

[I]  Chinese Property Bonds' Time in the Sun May Be Coming to an End

[I]  Foreign Buyer Ban Hits House Prices in Wealthy Winter Playground

[I]  BOJ’s Kuroda Says Monitoring Heightened Global Uncertainties

[I]  BOE’s Haldane Says Brexit Undermining Work to Boost U.K. Economy

 

WALL STREET JOURNAL

[I]  White House and Congress Reach Deal on Spending, Debt Ceiling

[I]  When the Safety Net Pays for Itself

[I]  Trump Touts Tech Industry Support for Huawei Exemptions

[I]  IRS Greenlights Tax Breaks for Buyers of 23andMe Genetic Tests

[I]  Central Banks Are in Sync on Need for Fresh Stimulus

[I]  Economy Week Ahead: Home Sales, Eurozone Manufacturing

 

BUSINESS LINE

[I]  Sugar subsidies: India blocks requests for WTO dispute panels

[I]  RTI Act amended in the face of strong opposition

[I]  ‘5G may not see the same kind of adoption that 4G witnessed in India’

[I]  Heavy rain likely in Central India from tomorrow

[I]  For ISRO, finding water is the key

[I]  Small rockets are the next big thing

 

ECONOMIC TIMES

[I]  Just how much wealth is stashed abroad? FM says no clue

[I]  Big 4 now have more serious trouble coming

[I]  Promoter share pledges at 6-year low in June

[I]  Pulses export falls on drought-like condition

[I]  Amid NBFC crisis, lenders trust safety of government bonds

[I]  18% GST on flat owners paying monthly maintenance of over Rs 7,500

[I]  Government targets to add 1.3 crore income tax filers this fiscal

[I]  India enters 37-year period of demographic dividend

[I]  Government to exit out of 23 CPSEs

 

BUSINESS STANDARD

[I]  Markets extend sell-off after RBI governor Shaktikanta Das sounds caution

[I]  Ban cryptocurrencies, consider launching own digital money: Panel to govt

[I]  India Inc sees related-party transactions drying up on increased scrutiny

[I]  Govt to propose annual licence for hiring contract workers across projects

[I]  Speed, skill and scale sum up first 50 days of Modi 2.0, says govt

[I]  India is likely to set up gas trading hub by first quarter of 2020-21

[I]  India staring at silent fiscal crisis, says PM's advisor Rathin Roy

[I]  Can't say when NBFC crisis will finish; trying to avoid contagion: RBI Guv

[I]  Chandrayaan-2 begins 48-day journey to the Moon amid anxiety and euphoria

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11352;  USDINR DGCX: 69.0025;  DJIA Mini: 27220;  FTSE 100 Fut: 7475;  NIKKEI 225 Fut: 21590;  EUR-USD: 1.1198; Crude Oil (WTI): 56.22;  Gold (Spot): 1419

 

Best Regards, ARBIND
23 Jul 2019