MACRO ECONOMIC NEWS

TAKE A MOMENT, UNIVERSE IS ALIGNED TO MAKE “IT” THE WAY WE WANT IT. WISHING A COMFORTING DAY AHEAD.

Macro Economic News 25 Jul 2019

 

India up 5 ranks to 52nd most innovative country in Global Innovation Index. India's monsoon rains were 35% below average in the week ending on Wednesday, with little rainfall over the central, western and northern parts of the country, the weather office said, raising concerns over the output of summer-sown crops. Eurozone manufacturing activity falls to worst in almost seven years. Heavily reliant on exports, Eurozone economies have been hurt by dwindling global trade flows. The San Francisco suburb of Emeryville recently implemented the highest minimum wage in the U.S., $16.30 an hour, becoming ground zero for a national debate over how to balance boosting wages for the lowest-paid workers and ensuring small businesses can afford to employ them. India is failing to reap the benefits of China-US trade war.

 

FINANCIAL TIMES

[I]  ‘No ifs or buts’ — Johnson vows to leave EU in 99 days

[I]  China’s army can intervene in Hong Kong, says Beijing

[I]  EU plans sweeping rules to curb illegal online content

[I]  Brutal dismissal of May era delivered on steps of Downing St

[I]  Italy targets migrant rescue boats with new law

[I]  UK struggles to win support for Gulf force

[I]  Eurozone manufacturing activity worst in almost seven years

[I]  India is failing to reap the benefits of China-US trade war

 

REUTERS

[I]  British Prime Minister Johnson promises a bold new Brexit deal

[I]  ANZ says watchdog plans action for wrongful fee charges

[I]  Fed to cut rates for first time in a decade this month: Reuters poll

[I]  To survive trade war, some U.S. importers embark on major revamps of product lines

[I]  With finger on trigger, ECB aims at more stimulus

[I]  Investors pull $1.5 billion from India equities so far in July - IIF

[I]  U.S. new home sales rebound; prior three months revised down

 

BLOOMBERG 

[I]  Chinese Drugmakers Warn on Profits as Government Overhaul Bites

[I]  A Third of Economists Expect BOJ to Bolster Rates Pledge in July

[I]  South Korea’s Economy Starts Growing Again as Outlook Darkens

[I]  ECB Set to Signal Rate Cut as Economy Slows: Decision Day Guide

[I]  Central Bankers Are Playing a Dangerous Game With Asset Prices

[I]  Singapore Braces for More Delistings Even After Rule Fix

[I]  Trade War Spurs Recession Risk in Singapore

[I]  IMF Approves Last Installment of $12 Billion Loan to Egypt

 

WALL STREET JOURNAL

[I]  For Boris Johnson’s Britain, a Cold World Awaits

[I]  Europe Gets Caught in the U.S.-China Crossfire

[I]  America’s Highest Minimum Wage Sparks Fight in Small California City

[I]  U.S. New Home Sales Picked Up in June

[I]  Congressional Leaders Urge Members to Approve Spending Deal

[I]  Prospective Fed Nominee Judy Shelton Resigned From EBRD Job

[I]  Real Time Economics: Housing Sales Slump, U.S.-China Talks Are Back On and Germany’s Economy Is in Trouble

 

BUSINESS LINE

[I]  Amid auto slump, components sector sees 8-10 lakh job cuts

[I]  States, like Centre, can now use Aadhaar for welfare schemes

[I]  Centre relaxes timelines for wind projects

[I]  E-waste management may end up as just junk sans policy support: Experts

[I]  Service tax demand is only for premium bank accounts

 

ECONOMIC TIMES

[I]  Is India walking into a middle-income trap? Signs aren't pretty

[I]  Filing ITR may not be as taxing as you think

[I]  Investors lose Rs 5.86 lakh crore in 5 days

[I]  India may launch $10 billion global bond sale in October

[I]  CCEA nod to 40 LMT sugar buffer stock at Rs 1,674 crore: Sources

[I]  GDP growth to be flat at 6.8% in FY20: Report

[I]  India is running out of time to cash in on young workforce

[I]  FM hints 25% corporate tax may be extended to all companies

 

BUSINESS STANDARD

[I]  FMCGs focus on earnings growth by cutting ad spends and other expenses

[I]  Auto parts industry fears 1 million jobs could be at stake due to slowdown

[I]  4 mt sugar buffer gets nod; floor price stays same amid growing arrears

[I]  India up 5 ranks to 52nd most innovative country in Global Innovation Index

[I]  India's monsoon rains 35% below average this week, says weather office

 

MARKETS (06:30 am)

[I]  SGX NIFTY Fut: 11294;  USDINR DGCX: 69.0025;  DJIA Mini: 27262;  FTSE 100 Fut: 7454;  NIKKEI 225 Fut: 21770;  EUR-USD: 1.1139; Crude Oil (WTI): 56.06;  Gold (Spot): 1424

 

Best Regards, ARBIND
25 Jul 2019