MACRO ECONOMIC NEWS

CREATION IS THE MIRACULOUS GIFT TO HUMANKIND; WE CAN DO, BE AND HAVE ANYTHING. WISHING AN INNOVATIVE DAY AHEAD.

Macro Economic News 20 Aug 2019

 

India's non-banking financial firms and listed companies that issue debentures will no longer have to maintain a certain level of redemption reserves against them, the government said, in an effort to increase the availability of money for lending. The Reserve Bank of India (RBI) is looking to get banks to link some new loans to its key policy rate or other external benchmarks as he pushes them to cut rates faster to stimulate a flagging economy. President Trump called for the Fed to sharply cut interest rates while reiterating his belief that the U.S. economy is strong.  Thailand’s economic growth slows to five-year low.

 

FINANCIAL TIMES

[I]  Group of US corporate leaders ditches shareholder-first mantra

[I]  Europe’s banks warned on ending rate benchmark

[I]  US tech groups call on France to abandon digital tax

[I]  End to free movement under no-deal Brexit upsets business

[I]  Japan exports fall in July as shipments to Asia slip

[I]  Thailand’s economic growth slows to five-year low

[I]  IMF and World Bank must get tough on corruption

 

REUTERS

[I]  China sets new lending reference rate slightly lower on first day

[I]  Australia's central bank board discussed unconventional policy at August meeting

[I]  Japan approves further exports of high-tech material to South Korea: sources

[I]  G7 may end without communique due to gaps on trade, climate: NHK

[I]  India exempts shadow lenders from debenture reserve requirements

[I]  RBI weighs linking some new bank loans to policy rate

[I]  Trump 'not ready' for China trade deal, dismisses recession fears

[I]  BoE's Carney says negative rates not an option for UK: Central Banking

[I]  German economy could continue to shrink: Bundesbank

 

BLOOMBERG 

[I]  White House Dismisses Payroll Tax Cuts as Slowdown Prevention

[I]  Stock Picking Getting Harder in India as Earnings Outlook Sours

[I]  It's Getting Harder to Make Easy Money in Asia Bonds as Junk Takes a Hit

[I]  Leveraged Loan Casualty List Grows After Three Pulled Deals

[I]  RBA Says It's Ready to Cut Rates Again If Evidence Warrants

[I]  Trump's Trade War Is Keeping the Dollar Strong, Not the Fed

[I]  Singapore Goes All in With Private Sector in Infrastructure Push

[I]  The Record High Price of Some Muni Bonds Erases the Tax Breaks

[I]  Lira Extends Fall as Reserve Measures Compound Risk-Off Rout

 

WALL STREET JOURNAL

[I]  An Economic Warning Sign: RV Shipments Are Slipping

[I]  Trump Calls for a Big Fed Rate Cut, Again Criticizes Powell

[I]  Fed Chief Wedged Between a Slowing Economy and an Angry President

[I]  Top CEOs Say Firms Have Duties Beyond Shareholder Value

[I]  Fed’s Rosengren Still Doesn’t See Need to Lower Rates

[I]  Deadline Looms for U.S. Employers to Report Pay for Women, Minorities

[I]  The City With the Highest Minimum Wage

[I]  Newsletter: The RV Industry Signals a Recession Around the Bend

 

BUSINESS LINE

[I]  Mood of doom and gloom is not helping: RBI Governor

[I]  Auto dealers’ body sees demand revival with onset of monsoon, expected support measures

[I]  Bumper rice and wheat output pushes grain yield close to 285 million tonnes

[I]  PE-VC investment in India zooms to all-time high of $8.3 bn in July

[I]  Prospects good for N-E monsoon, winter rains, says Japanese agency

 

ECONOMIC TIMES

[I]  What the new tax code for India may look like if it goes through

[I]  Your debit card may cease to exist, if SBI has its way

[I]  India's job scene has begun to look gloomy

[I]  RBI to sell government securities worth Rs 17,000 crore on Friday

[I]  Safe-haven currencies under pressure as stimulus hopes grow

[I]  July M&A value dips 52.7 per cent to USD 4.3 billion amid global trade tensions: Report

[I]  RBI governor says time other banks linked loans, deposits to repo rate

[I]  India's fiscal deficit goals threatened by tax evasion as demand wanes

[I]  Aadhaar to ensure farmers, not middlemen, get benefits

[I]  Economic slowdown 'very worrisome', new set of reforms needed: Raghuram Rajan

 

BUSINESS STANDARD

[I]  Direct Tax Code 2.0: Task force for big relief to individual taxpayers

[I]  15th Finance Commission may cut number of centrally-sponsored schemes

[I]  NBFCs, HFCs, listed firms no longer need debenture reserve to raise funds

[I]  3 years on, just 6% resolution plans accepted under IBC, says report

[I]  Direct tax committee calls for major changes to reassessment rules

[I]  NBFCs continue to hold major share in retail loans despite liquidity crisis

[I]  Around 58% luxury apartments still unsold in Mumbai, says Icra report

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11052;  USDINR DGCX: 71.8300;  DJIA Mini: 26142;  FTSE 100 Fut: 7177;  NIKKEI 225 Fut: 20630;  EUR-USD: 1.1087; Crude Oil (WTI): 56.21;  Gold (Spot): 1496

 

Best Regards, ARBIND

20 Aug 2019