MACRO ECONOMIC NEWS

MAY YOU ENJOY FREEDOM, SELF-TRANSCENDENCE AND A GREAT CELEBRATION. WISHING A DIVINE WEEK AHEAD.

Macro Economic News 30 Sep 2019

                                                                                                                                                           

India banned exports of onions, as prices remain high due to a seasonal shortage which has been worsened by flooding in several states. The Indian government may request an interim dividend of around 300 billion rupees ($4.3 billion) from the Reserve bank of India (RBI) in order to meet its fiscal deficit target. India’s facial recognition plans spark privacy debate. Capex touches 40% in April-August period. Finance Minister asks top CPSEs to front-load their Capex plans. Agriculture share in India's 'Gross Value Added' fell to 17.9% in FY17 from 18.6% in FY14. Home loan is likely to get cheaper from this week. Saudi Arabia is to invest USD 100 billion in India. India among 20 most improved countries in ease of doing business. A widely watched U.S. recession signal has been blinking red for months now. Global Slowdown Spreads Across U.S. Economy. Yet the performance of that gauge, the yield curve, in Britain suggests it is less worrisome than the American experience indicates. Japan’s factory output falls as global slowdown keeps biting. RBA is seen cutting rates again as Lowe keeps cards close to chest. Draghi urges closer fiscal union, higher government spending to bolster Eurozone.

 

FINANCIAL TIMES

[I]  Draghi backs calls for fiscal union to bolster Eurozone

[I]  Outlook improves but offshore wind is not yet subsidy-free

[I]  Hungary optimistic over swift end to EU rule-of-law row

[I]  UK lacks leadership to sort Brexit, says Finnish PM

[I]  Ukraine gas company feels heat of US impeachment probe

[I]  Italy revisits breaching Brussels’ budget deficit target

[I]  India’s facial recognition plans spark privacy debate

[I]  Companies fear rise of fake news and social media rumours

 

REUTERS

[I]  India bans onion exports as prices stay elevated

[I]  Hong Kong on edge ahead of sensitive Chinese anniversary

[I]  China September factory activity shrinks for fifth month: official PMI

[I]  Government may seek $4.3 billion interim dividend from RBI: media reports

[I]  China urges 'calm and rational' resolution to U.S.-Sino trade war

[I]  Debt-choked Malaysia dithers on $1 billion train project with Singapore

[I]  Citing climate risk, investors bet against mortgage market

 

BLOOMBERG 

[I]  White House Weighs Limits on U.S. Portfolio Flows Into China

[I]  The Fed Is Girding for Repo Trouble Monday Even as Market Calms

[I]  Slowing Economy and Deflation Cause China’s Company Profits to Drop

[I]  Foreigners Dump $1.2 Billion of Indonesian Stocks After Weak Growth, Protests

[I]  Vietnam Growth Forecasts Upgraded After Quarterly GDP Exceeds 7%

[I]  Turkish Banks Get Some Relief as Foreign-Borrowing Costs Drop

[I]  Japan’s Factory Output Falls as Global Slowdown Keeps Biting

[I]  RBA Seen Cutting Rates Again as Lowe Keeps Cards Close to Chest

[I]  Draghi Urges Closer Fiscal Union, Higher Government Spending

[I]  Saudi Arabia Starts Offering Loans to Develop Renewable Energy

 

WALL STREET JOURNAL

[I]  ‘Why Were They Surprised?’ Repo Market Turmoil Tests New York Fed Chief

[I]  U.K. Experience Suggests Inverted Yield Curve Isn’t All Gloom and Doom

[I]  Economy Week Ahead: China PMI and September U.S. Employment

[I]  Global Slowdown Spreads Across U.S. Economy

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

[I]  U.S. Inflation Decelerated in August

 

BUSINESS LINE

[I]  Govt plans to update national water policy: Jal Shakti Minister

[I]  Restrict Ayushman Bharat to the private sector: IMA

[I]  Finance Minister asks top CPSEs to front-load their capex plans

[I]  Farm sector awaits its own booster dose

[I]  Monsoon may begin exiting West Rajasthan from October 7

[I]  ‘Thailand keen to export rubber products to India’

[I]  Capex touches 40% in April-August period

 

ECONOMIC TIMES

[I]  Gold prices dip as fears of widening trade war ease

[I]  India bans onion exports as prices stay elevated

[I]  Agriculture share in India's 'Gross Value Added' fell to 17.9% in FY17 from 18.6% in FY14

[I]  Home loans likely to get cheaper from this week

[I]  Saudi Arabia to invest USD 100 billion in India

[I]  Ease of doing business: India among 20 most improved countries

[I]  Corporate tax rate cuts: New contract manufacturing units eligible for 15 per cent tax benefit

[I]  DIPAM, NITI Aayog aim to cut government stake in select CPSEs to below 51%

 

BUSINESS STANDARD

[I]  Bills for pills: Antibiotics could be govt's next segment for price cap

[I]  Soon, you may track live status of private and public sector infra projects

[I]  Steel industry seeks booster for demand revival amid economic slowdown

[I]  Govt to launch enterprise development centres for MSMEs in all districts

[I]  Economic slowdown: Realtors slash ad spends by over 50% as sales plunge

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11578;  USDINR DGCX: 70.9125;  DJIA Mini: 26902;  FTSE 100 Fut: 7390;  NIKKEI 225 Fut: 21770;  EUR-USD: 1.0932; Crude Oil (WTI): 56.02;  Gold (Spot): 1492

 

Best Regards, ARBIND
30 Sep 2019