MACRO ECONOMIC NEWS

SELFLESS IS SIMPLY SAINTLY. WISHING A SUPERB WEEK AHEAD.

Macro Economic News 26 Aug 2019

 

Globalisation not to blame for rise in inequality, research finds. The world’s central bankers are increasingly worried that President Trump’s tactics to reorder global trade are destabilizing economies in ways that they can’t easily fix. President Donald Trump wishes he had raised tariffs on Chinese goods even higher last week, even as Trump signalled he did not plan to follow through with a demand that U.S. firms find ways to close operations in China. UK Prime Minister Boris Johnson told European Council President Donald Tusk that Britain would be leaving the European Union on Oct. 31 whatever the circumstances. Indian IT industry on hiring spree, adds record number of employees in Q1.

 

FINANCIAL TIMES

[I]  Brussels plans to simplify eurozone budget rules

[I]  US says Trump regrets not being tougher on China

[I]  Software sector braces for a split among leading companies

[I]  German banks resist proposed negative rates charge ban on retail depositors

[I]  Italian debt markets hold their nerve

[I]  Iran’s foreign minister appears at G7 summit

[I]  Central bankers rethink everything at Jackson Hole

[I]  UK will refuse to pay £39bn divorce bill in no-deal Brexit

[I]  Globalisation not to blame for rise in inequality, research finds

 

REUTERS

[I]  Trump caught off guard as Iran's Zarif visits G7 summit town

[I]  Yuan falls to 11-year low on trade war, yen pares early gains

[I]  Sudan's sovereign council declares state of emergency in Port Sudan

[I]  UK PM Johnson told Tusk: We leave EU on Oct. 31 whatever the circumstances

[I]  Central bankers face political shocks, and hope to avoid the worst

[I]  In calls and emails, Argentine execs seek jobs abroad to escape crisis

[I]  China to set floor on mortgage rates to curb housing risks

[I]  Fed wields strong influence on global financial conditions: research

 

BLOOMBERG 

[I]  In a World of Negative Yields, Singapore Still Pays Interest

[I]  China’s Companies Have Unseen Foreign Debt That’s Maturing Fast

[I]  Corporate America Sounds Alarm on Trump’s Threats Over China

[I]  Lira’s Sudden Crash Catches Japan’s Mom-and-Pop Investors Again

[I]  India’s New Steps to Spur Economic Growth Seen Falling Short

[I]  Hong Kong Stocks Slump Most in Asia, Yuan Falls to 11-Year Low

[I]  Trump Has the Power, China Debt Fears, U.S.-Japan Deal: Eco Day

 

WALL STREET JOURNAL

[I]  Tension Between Trump, World Leaders Takes Spotlight at G-7 Summit

[I]  Latin America Hangs On to Its Economic Gloom

[I]  Central Bankers Worry About Trump’s Tactics to Reorder Global Trade

[I]  BOE’s Carney Says Trade War Imperils Global Growth

[I]  Powell Issues Warning Over Trade, Signals More Rate Cuts Are Possible

[I]  Trump Lashes Out at China, Sending Markets Falling

[I]  Economy Week Ahead: Durable Goods Orders, Personal Income

 

BUSINESS LINE

[I]  Stimulus package will boost growth and stabilise economy: CII

[I]  In relief to tax-payers, 2 more ITR forms will be pre-filled from FY21

[I]  Centre to consider proposal to relax local souring norms for foreign single brand retail

[I]  Stimulus package: How the rollback of surcharge works

[I]  Over 1,100 parks developed across country under AMRUT

[I]  FM’s boost : More noise, less action for Auto sector

 

ECONOMIC TIMES

[I]  The long-awaited moment for auto cos, banks may've arrived

[I]  Gold touches over 6-year peak as risk-off appetite stoked

[I]  India has world's "worst" tariffs on US products: Senator Graham

[I]  India’s new steps to spur economic growth seen falling short

[I]  View: Even Rs 5 biscuits are now too pricey for Indian workers

[I]  Five years up to 2017-18 worst for India Inc since liberalisation

[I]  New measures to help economy grow in coming months: CII

[I]  From 'Panglossian countenance' to 'Floccinaucinihilipilification', RBI reinvents Greenspeak

 

BUSINESS STANDARD

[I]  IT industry on hiring spree, adds record number of employees in Q1

[I]  Two-wheeler makers are exploring new ideas to keep going as sales flag

[I]  Realtors seek cheaper loans and uniform GST norms to revive sector

[I]  Banks may restart lending after Rs 70,000 cr boost but with caution

[I]  Govt's reform push: Domestic equities and rupee likely to see a turnaround

[I]  Commercial vehicle makers to gain the most from FM Sitharaman's measures

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10915;  USDINR DGCX: 72.0025;  DJIA Mini: 25570;  FTSE 100 Fut: 7104;  NIKKEI 225 Fut: 20290;  EUR-USD: 1.1140; Crude Oil (WTI): 53.64;  Gold (Spot): 1540

 

Best Regards, ARBIND
26 Aug 2019