MACRO ECONOMIC NEWS

“YOU ARE THE WORLD FOR ME” AND IT IS THE REASON OF MY HAPPINESS. WISHING A GLORIOUS WEEKEND AHEAD.

Macro Economic News 13 Jul 2019

 

The government plans to raise as much as 3.25 trillion rupees in the next five years by reducing its stakes in some large state-owned firms to 40%. India's strong diesel demand growth is decoupling from the car market as motorists increasingly turn to gasoline vehicles, leaving it more reliant on patchy demand from construction and heavy industry. Foreign investors are urging India to reconsider its decision to increase taxes on certain groups of wealthy portfolio investors, arguing the move will hit the competitiveness of Indian capital markets. President Trump’s repeated attacks on the Federal Reserve haven’t significantly damaged perceptions of  the central bank’s independence. China’s foreign trade stumbled last month, as both imports and exports fell, despite Beijing’s efforts to revive domestic demand.

 

FINANCIAL TIMES

[I]  Merkel’s tremors blur traditional German view on privacy

[I]  It’s time to stop ignoring mental health at work

[I]  Singapore’s economy experiences slowest growth in a decade

[I]  Hungary’s takeover of academy blasted as ‘expression of power’

[I]  Italy plans fresh assault on EU public spending rules

[I]  US House votes to restrain Trump on Iran

[I]  Retailers take alternative approach to leases

 

REUTERS

[I]  Exclusive: India aims to raise $47 billion from stake sales in state firms over 5 years - sources

[I]  India's June inflation hits eight-month high but rate cut still possible

[I]  India-U.S. trade talks end without major progress: sources

[I]  Wall Street notches all-time highs on lingering rate-cut optimism

[I]  Foreign investors' lobby group asks India to reconsider high taxes

[I]  India's diesel demand set for detour as drivers switch to gasoline

[I]  G7 deal on minimum tax rates seen eluding ministers: French source

[I]  China to impose sanctions on U.S. firms that sell arms to Taiwan

[I]  U.S. producer prices rise marginally, suggest tame inflation

[I]  China's June exports, imports fall as trade war takes heavier toll

 

BLOOMBERG 

[I]  Hong Kong Turmoil Has Millionaires Eyeing Other Wealth Havens

[I]  Hedge Funds Make Record Bearish Cotton Bet Before Prices Tumble

[I]  Evans Says Two Fed Rate Cuts Could Bring Inflation to Goal

[I]  Interest-Rate Cut Is What Matters Most for ECB, Danske Says

[I]  Fed's Evans Says More Accommodation Needed to Reach 2% Inflation

[I]  Bank of America Cuts Its Outlook for Global Growth

[I]  Americans' Financial Anxiety Remains High Despite Strong Economy

[I]  Banks in Firing Line as Nigeria Looks to Loans to Fuel Economy

[I]  Bank of England to Cut Rates Twice by May, Merrill Lynch Says

 

WALL STREET JOURNAL

[I]  Trump’s Criticism of the Fed Hasn’t Shifted Perception of Its Independence, Economists Say

[I]  Acosta Resigns Amid Pressure Over Epstein Prosecution

[I]  Takeaways From Fed Chief’s Two Days on Capitol Hill

[I]  U.S. Producer Prices Rose Slowly in June

[I]  China Trade Data Points to Sagging Economy

[I]  Fed’s Evans Sees Two Rate Cuts Needed This Year

[I]  Real Time Economics: The Fed Is Going to Cut, Inflation Says Hello and Trump Knocks Bitcoin

 

BUSINESS LINE

[I]  Retail inflation inches up in June even as industrial growth slows down in May

[I]  China’s imports from US plunge 31% in June

[I]  Soon, Tax Dept to send SMS on 18 types of high-value transactions

[I]  Dividend distribution tax here to stay, says Garg

[I]  Good governance means no vested interests, and full accountability

[I]  Kharif sowing picks up pace with improved rainfall

 

ECONOMIC TIMES

[I]  Finance secy just told India Inc way around tax on dividends

[I]  India a step closer to manned space mission

[I]  US now readying to wage a currency war

[I]  Time ripe for a sovereign bond issue: SBI report

[I]  Govt may raise Rs 70,000 cr via issuance of foreign bonds: Garg

[I]  India's summer crop planting down nearly 9 per cent

[I]  RBI examining priority sector lending norms for export credit: Piyush Goyal

[I]  IIP data: India's industrial growth slips to 3.1% in May

[I]  Retail inflation hits eight-month high, rises to 3.18% in June

[I]  India to overtake Japan to become 3rd largest economy in 2025

 

BUSINESS STANDARD

[I]  Delayed monsoon rainfall to adversely impact agri input companies

[I]  Automobile R&D investments soar on new regulations, emerging technologies

[I]  India records fastest reduction in multi-dimensional poverty in 2006-16

[I]  India involved in 14 disputes at WTO currently, says Piyush Goyal

[I]  No question of privatisation of railways: Piyush Goyal tells Parliament

[I]  Monsoon revival helps reservoir levels across India by over 30% in a week

[I]  Govt to consider grandfathering 20% tax on share buybacks already underway

 

Best Regards, ARBIND

13 Jul 2019