MACRO ECONOMIC NEWS

I HAVE TAKEN A BIT FROM YOU IN MY LIFE; YOU ARE INSPIRATIONAL AND THE BEST TEACHER. HAPPY TEACHER’S DAY.

Macro Economic News 05 Sep 2019

 

India and Russia are targeting $30 billion of annual trade by 2025, as a string of energy deals deepened economic ties between the nations. India's central bank mandated banks to link certain loans to the external benchmark based interest rate from Oct. 1, in a bid to allow faster transmission of its rate cuts to consumers. You wouldn’t think to look to France as a model of unfettered markets. But from cellphones to airfares, competition has risen in Europe but shrunk in America.  Most U.S. businesses remain optimistic about their prospects despite concerns about tariffs and trade policy, as the economy continues to grow, the Federal Reserve said in its “beige book” report of anecdotes from business contacts.

 

FINANCIAL TIMES

[I]  Lagarde calls on European governments to launch fiscal stimulus

[I]  Spain’s strong economic growth bucks eurozone trend

[I]  Johnson bets on ballot-box dividend from risky gamble

[I]  Italy’s new coalition gets green light from president

[I]  India and Russia tie up energy and defence deals

[I]  Unaffordable loans are a scandal in South Africa

 

REUTERS

[I]  Exclusive: India likely to miss fiscal deficit target amid pressure for more stimulus - sources

[I]  Snap election on horizon after UK lawmakers vote to block 'no-deal' Brexit

[I]  China, U.S. to hold trade talks in October - China commerce ministry

[I]  China allows imports of soybean meal, rapeseed meal, sunflower meal and sugar beet pulp from Russia

[I]  Bahamas staggers from Dorian's devastation, U.S. coast fears storm surge

[I]  India and Russia target $30 billion in trade by 2025, announce new energy deals

[I]  RBI asks lenders to link some loans to external benchmark

[I]  Indian rupee unlikely to gain traction as investors stay shy: Reuters poll

[I]  Fed's rate-cut debate focuses on 'robust' U.S. consumer

 

BLOOMBERG 

[I]  Central Banks Dust Off Old Tools to Stem Risks From Easy Money

[I]  India’s Reliance on Central Bank Cash Puts Budget Funding at Risk

[I]  The Unlikely Chinese Cities Where House Prices Rival London

[I]  China Signals Further Monetary Easing as Economic Headwinds Rise

[I]  The Philippine Peso's Rally Is Rapidly Unraveling

[I]  Erdogan Says Economy Must Grow Faster, Signals Interest Rate Cut

[I]  ECB’s Mersch Takes Key Hurdle to Help Oversee Euro-Area Lenders

 

WALL STREET JOURNAL

[I]  What France—Yes, France—Can Teach the U.S. About Free Markets

[I]  U.S. Trade Gap Narrowed in July as Imports Fell

[I]  Fed’s Beige Book Reports Modest Growth Despite Trade Uncertainty

[I]  Lagarde Pledges to Review ECB’s Negative Rates

[I]  Fed’s Evans: U.S. Economy’s Trend Growth Rate Likely Around 1.75%

[I]  Fed's Williams: Will ‘Act as Appropriate’ to Keep Expansion Moving Forward

 

BUSINESS LINE

[I]  Commerce Minister to meet exporters on September 11 to discuss measures to push shipments

[I]  Falling exports a cause of greater concern as GDP growth slows down

Sharp fall in cement demand likely due to lower government spending

[I]  India likely to miss fiscal deficit target amid pressure for more stimulus

[I]  India, Russia agree to step up trade to $30 bn by 2025

[I]  Car crash hits economy, pain spreads to rural India

[I]  Maharashtra’s MSMEs staring at a bumpy future

 

ECONOMIC TIMES

[I]  Link loans to benchmarks: RBI to banks

[I]  The road ahead for the coming mega banks

[I]  Weak factory data knocks dollar as Brexit delay hopes boost pound

[I]  Fragmented yield curve key hurdle in growth of corp bond mart: Sebi Chief

[I]  Govt slaps 5 per cent safeguard duty on palm oil imports from Malaysia

[I]  Donald Trump's tariff-hit US firms keen to relocate to India from China

[I]  India promotes long-term big-ticket investments at Eastern Economic Forum

[I]  FDI inflows up 28 percent in Q1 to $16.3 bn

[I]  CRISIL cuts GDP growth to 6.3% in fiscal 2020

[I]  Demand down, government seeks solution in new GST math

 

BUSINESS STANDARD

[I]  American fashion brands push for India-US FTA to streamline trade issues

[I]  RBI mandates banks to link fresh retail loans to external benchmark

[I]  Decorative paints and footwear stand out amid slowdown, may remain outliers

[I]  Economic slowdown hits states' GST revenues more than Centre, shows data

[I]  Services PMI falls to 52.4 in August on slower rate of increase in output

[I]  Russia, already India's biggest arms supplier, in line for more

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 10880;  USDINR DGCX: 72.1300;  DJIA Mini: 26651;  FTSE 100 Fut: 7348;  NIKKEI 225 Fut: 21150;  EUR-USD: 1.1028; Crude Oil (WTI): 56.25;  Gold (Spot): 1545

 

Best Regards, ARBIND

05 Sep 2019