MACRO ECONOMIC NEWS

IT’S A PERFECT DAY TO BE HAPPY. WISHING A SMILING DAY AHEAD.

Macro Economic News 21 Aug 2019

 

Indian government panel recommends across board corporate tax cut to 25%: source. Economists estimate GDP growth of 5.5-5.6% in Q1 FY20 amid slowdown. The European Union rebuffed Prime Minister Boris Johnson's demand that it reopen the Brexit divorce deal, saying Britain had failed to propose any realistic alternative to an agreed insurance policy for the Irish border. President Trump said he is considering measures to bolster the economy, including a possible reduction in capital-gains taxes, and continued to press the Fed to cut rates even as he played down warning signs of a possible slowdown. Thailand unveils $10bn stimulus for struggling economy.

 

FINANCIAL TIMES

[I]  EU rejects Johnson’s call to rework terms of Brexit

[I]  Fears grow of Venezuela malnutrition time-bomb

[I]  US regulators unveil final rewrite of Volcker rule

[I]  IMF officials in talks with Argentina after market turmoil

[I]  Polish minister quits over judges smear allegations

[I]  Russia and China accuse US of stoking tension with missile test

[I]  Thailand unveils $10bn stimulus for struggling economy

[I]  Dubai suspends legal claims against state developer

 

REUTERS

[I]  Indian government panel recommends across board corporate tax cut to 25%: source

[I]  Italy president begins talks to seek way out of government crisis

[I]  Argentine peso ends higher after central bank sells dollars

[I]  Cardinal Health warns ongoing opioid-related lawsuits to hit business

[I]  House prices would flounder in six months after no-deal Brexit: Reuters poll

[I]  EU rebuffs British PM Johnson's Brexit gambit

[I]  It's the U.S. Fed, but the world will have its say

[I]  Hong Kong leader says dialogue and 'mutual respect' offer way out of chaos

[I]  U.S. regulators hand Wall Street a major win with stripped-down 'Volcker Rule'

[I]  Argentine peso ends higher after central bank sells dollars

 

BLOOMBERG 

[I]  Luxury Homebuilder's Woes Show Mounting Fears of U.S. Slowdown

[I]  Hong Kong's Despair, Fed Recession Debate, Italy Risk: Eco Day

[I]  U.K. Steps Up Brexit Preparedness for Firms as Deadline Looms

[I]  China Is Cracking Down on Inflated Bond Trading Numbers

[I]  Connecticut, Hit Hard by Last Recession, Is Ready for Next One

[I]  U.S. Seen as Climate Risk With Two-Thirds of New Oil and Gas

[I]  Rates Traders Ripe for Disappointment, Live From Jackson Hole

[I]  Slowing Singapore Economy Drives Profit Drop as Trade War Bites

[I]  Italian Bonds Rally as Conte Pushes Back Against Fresh Elections

 

WALL STREET JOURNAL

[I]  Historic Rise of College-Educated Women in Labor Force Changes Workplace

[I]  Trump Weighs Options to Spur the Economy

[I]  Fed’s Daly: July Rate Cut Was Right Move, Recession Not Imminent

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

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

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

[I]  Newsletter: Trump Calls for Big Rate Cut, Economists Expect a Recession…Eventually

 

BUSINESS LINE

[I]  All advertisers to come under ASCI purview, rules Delhi district court

[I]  TN re-thinks approach to wooing investors

[I]  Oil exploration, production firms’ farm-in expenses are intangible assets, says CBDT

[I]  Media and entertainment industry growth expected to double in five years : KPMG

[I]  Floods, landslides lay waste areca plantations on 1,900 acres

[I]  India to have different e-visa fee for peak and lean season: Tourism Ministry

 

ECONOMIC TIMES

[I]  Cos may finally get relief from corporate tax

[I]  Global bond rally sidesteps India as deficit fears mount

[I]  Widening bond-dividend yield spreads raise recession worries

[I]  Government to rope in agency to evaluate farm mechanisation impact

[I]  Finance ministry reviewing India’s free trade agreements

[I]  NHAI seeks proposals to create project monetisation pipeline

[I]  India moves to tax global tech giants, eyes OECD meet

 

BUSINESS STANDARD

[I]  Banks may seek consent before allowing transfer of funds to your account

[I]  Media & entertainment firms take hit amid slowing advertising spend

[I]  Indian banks trail global peers on e-sale capabilities, finds BCG study

[I]  Govt's big push to attract tourists: One-month e-visa at flexible charges

[I]  Closer look at CAG audit of GST reveals systemic flaws, not just glitches

[I]  Economists estimate GDP growth of 5.5-5.6% in Q1 FY20 amid slowdown

[I]  RBI to issue new guidelines on salaries of private, foreign bank executives

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11003;  USDINR DGCX: 71.6425;  DJIA Mini: 25976;  FTSE 100 Fut: 7106;  NIKKEI 225 Fut: 20580;  EUR-USD: 1.1097; Crude Oil (WTI): 56.34;  Gold (Spot): 1503

 

Best Regards, ARBIND

21 Aug 2019