MACRO ECONOMIC NEWS

IT IS CERTAIN THAT FRIDAY WILL COME; LETS MAKE THIS MONDAY MEMORABLE. WISHING AN OPPORTUNISTIC DAY AHEAD.

Macro Economic News 19 Aug 2019

 

Singapore to raise retirement age to 65 years. No more spending excuses for Merkel as investment bottlenecks ease. State Bank of India sees credit growth slowing this fiscal year. Indian Govt plans debt waiver for ‘small distressed borrowers’. Bank Indonesia is seen keeping Rupiah bears at bay as EM risks rise. White House officials pushed back against concerns that economic growth may be faltering, saying they saw little risk of recession despite a volatile week on global bond markets, and insisting their trade war with China was doing no damage to the United States. A prolonged dollar rally is pressuring U.S. corporate earnings, hitting commodity prices and threatening to deepen a selloff in emerging markets.

 

FINANCIAL TIMES

[I]  Investors position for fresh wave of economic stimulus

[I]  Global slowdown starts to weigh on shareholder returns

[I]  China to introduce market-driven lending rate

[I]  Greece’s new finance minister vows to prioritise tax reforms

[I]  Brussels plans to revive money laundering blacklist

[I]  Spain offers to take refugee boat turned away by Italy

[I]  There is no recession coming, says White House

[I]  US companies cut spending in face of growth fears

 

REUTERS

[I]  China's central says new loan benchmark to be based off medium-term liquidity

[I]  Japan's exports slip for eighth month, sales to China drop as recession fears grow

[I]  Australian regulator promises big bank lawsuits by year-end: media

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

[I]  Japan manufacturers turn pessimistic for first time since 2013: Reuters Tankan

[I]  UK minister Gove: No-deal Brexit will mean 'bumps in the road'

[I]  Singapore to raise retirement age to 65 years - prime minister

[I]  No more spending excuses for Merkel as investment bottlenecks ease

[I]  U.S. housing market mired in weakness; consumer sentiment ebbs

 

BLOOMBERG 

[I]  Hong Kong Property Market Withstands Unrest That Roiled Economy

[I]  Powell Likely to Use Jackson Hole to Suggest Fed Ready to Cut

[I]  From Sleepless in Singapore to $70 Million for Cut-Rate Hotels

[I]  Earnings Scorecard Paints Bleak Picture for Australian Investors

[I]  Suffering Emerging Markets Look to Powell to Calm Frayed Nerves

[I]  Saudi Oil Fields Are in the Firing Line as Gulf Conflicts Rage

[I]  State Bank of India Sees Credit Growth Slowing This Fiscal Year

[I]  Bank Indonesia Seen Keeping Rupiah Bears at Bay as EM Risks Rise

 

WALL STREET JOURNAL

[I]  Costly Tariff Spat Masks Deeper Trade Problems

[I]  Dollar Towers Above Rivals, Posing Fresh Threats to Financial Markets

[I]  Trump Cites Hong Kong Concerns in Talks With China

[I]  Summer Youth Unemployment Rate Falls to Half-Century Low

[I]  Trade Jitters Dent Consumer Sentiment

[I]  Despite Reprieve, New Tariffs Will Hit Wide Range of Consumer Goods

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

 

BUSINESS LINE

[I]  Govt plans debt waiver for ‘small distressed borrowers’

[I]  Economic ties between India and China will continue to grow, finds CII survey

[I]  Ministry keeps new CSR amendments on hold

[I]  Govt increases oil, gas bidding round to three times a year

[I]  FPIs pull out ₹8,319 cr in August amid persisting negative sentiment

[I]  Heavy rain may shift eastwards from North-West

 

ECONOMIC TIMES

[I]  Not all is bad in India's slowdown story

[I]  Punjab Agriculture Department raids vendors selling spurious pesticides, agriculture inputs

[I]  FM Nirmala Sitharaman's next stop to assess tax situation to be Varanasi

[I]  Traders body calls for boycott of Chinese goods, seeks up to 500% import duty

[I]  View: Its the start of a structural problem, not a temporary cyclical one

[I]  Report on CSR violation being fast-tracked

[I]  Government plans debt waiver for 'small distressed borrowers' under insolvency law

[I]  Sectoral policy intervention in works, no fiscal stimulus

[I]  Income Tax dept to change the way it communicates, be friendlier

 

BUSINESS STANDARD

[I]  Credit rating agencies likely to get access to loan default details

[I]  Criminal offences in Companies Act to be slashed, govt mulls 65 changes

[I]  Making a case for fair treatment of Union Territories in Finance Commission

[I]  150,000 bankers to discuss how to make India $5-trillion economy by 2024

[I]  CCI's Green channel for M&A deals: Implementation will be a tough climb

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11063;  USDINR DGCX: 71.3675;  DJIA Mini: 26050;  FTSE 100 Fut: 7138;  NIKKEI 225 Fut: 20520;  EUR-USD: 1.1093; Crude Oil (WTI): 55.40;  Gold (Spot): 1509

 

Best Regards, ARBIND
19 Aug 2019