MACRO ECONOMIC NEWS

CELEBRATION IS AWAITING EAGERLY; ITS FRIDAY AGAIN. WISHING A SATISFYING DAY AHEAD.

Macro Economic News 27 Sep 2019

 

Indian Govt might seek extension of ECB to boost NBFC credit in economy. Indian economy loses Rs 1.17 trillion due to smuggling, says study. Major central banks have seen more internal dissent over adding stimulus or have opted to leave monetary policy unchanged in recent weeks, a shift after a wave of easing earlier this year amid cooling global growth. Boosting manufacturing has been a central policy aim for President Trump. But many economic forces at play are beyond the control of any president. Americans pay about 86% of their federal taxes, leaving a $381 billion annual gap between taxes owed and taxes collected, according to an IRS study. Tokyo inflation slows to 16-month low, poses challenge to BOJ's 2% target. China's top diplomat says Beijing willing to buy more U.S. products.

 

FINANCIAL TIMES

[I]  IMF warns Zimbabwe over payouts to Trafigura partner

[I]  ‘German problem’ at ECB exposed by latest departure

[I]  Complex task of forming coalition falls to Netanyahu

[I]  France pledges €10bn tax cuts amid deficit warning

[I]  US bids to curb China’s lead in critical minerals

[I]  Japanese business leaders welcome partial US trade deal

 

REUTERS

[I]  India's economic growth to improve in second half of fiscal 2020: finance minister

[I]  British PM Johnson says tempers need to calm after Brexit furore

[I]  Internet sector contributes $2.1 trillion to U.S. economy: industry group

[I]  Its leash lengthened, China's yuan flirts with trade war role

[I]  Brexit may have 'gravest of consequences' for health: UK lawmaker

[I]  Lagarde must smooth ECB feathers after top hawk quits

[I]  Tokyo inflation slows to 16-month low, poses challenge to BOJ's 2% target

[I]  China's top diplomat says Beijing willing to buy more U.S. products

 

BLOOMBERG 

[I]  China's Coal-Dominated Power Sector Inches Toward Market Prices

[I]  Mexico Protesters Vandalize Central Bank, Presidential Palace

[I]  Trade War Hasn’t Stopped Wall Street’s $9 Billion China Rush

[I]  Big Reads on Economics Show Battle Lines Drawn on Climate Action

[I]  U.K. Consumers Are ‘Treading Water’ as Brexit Approaches Climax

[I]  Argentina’s Fernandez Hints at Uruguay-Style Debt Solution

[I]  Post-Crisis Rules May Hold Answer to One Repo-Market Mystery

 

WALL STREET JOURNAL

[I]  Central-Bank Hawks Raise Their Voices Against Low Rates

[I]  Trump’s Fed Attacks Are Helping to Drive Rate Cuts, Paper Says

[I]  Fed Adds $110.1 Billion to Financial System in Latest Transaction

[I]  Many Manufacturers’ Ups and Downs Have Little to Do With Trump

[I]  Millennials Continue to Leave Big Cities

[I]  U.S. Tax Compliance Holds Flat at 86%

[I]  U.S., Japan Sign Trade Deal on Farm Goods, Digital Trade

 

BUSINESS LINE

[I]  Economy will bounce back in second half with festival season: Nirmala Sitharaman

[I]  Thanks to the new online system, GST refunds will be seamless, pick up speed: GSTN chief

[I]  It’s discount time for auto and electronic companies

[I]  South Asia Climate Forum sees a normal North-East monsoon this year

 

ECONOMIC TIMES

[I]  India turns to UAE to fill in for Saudi oil

[I]  Dollar supported by safety flows; euro at new 2-year low

[I]  Not just onions, now tomatoes too will pinch your pocket

[I]  Corporate tax cut: Issue of carrying forward losses vexes companies in red

[I]  Demonetisation cases: CBDT extends taxman's deadline to December 31

[I]  Govt may trim PSU ownership below 51% as it plans to sell

 

BUSINESS STANDARD

[I]  Govt seeks steep cut in devolution to states from existing 42% of tax pool

[I]  Govt might seek extension of ECB to boost NBFC credit in economy

[I]  Indian economy loses Rs 1.17 trillion due to smuggling, says study

[I]  RBI's liquidity committee favours long-term lending operations

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11596;  USDINR DGCX: 71.2800;  DJIA Mini: 26845;  FTSE 100 Fut: 7328;  NIKKEI 225 Fut: 21740;  EUR-USD: 1.0922; Crude Oil (WTI): 56.11;  Gold (Spot): 1506

 

Best Regards, ARBIND
27 Sep 2019