MACRO ECONOMIC NEWS

O GRACIOUS MERCIFUL HEART, SEEKING YOUR FORGIVENESS AND GRACE; I MAY HAVE BEEN IN THE STATE OF BEWILDERNESS. WISHING A BLISSFUL DAY AHEAD.

Macro Economic News 03 Sep 2019

 

India's passenger vehicles sales are set to fall for a tenth consecutive month in August, strengthening the automakers' case for tax cuts to boost demand. Economists and international organizations have urged Berlin for months to spend more to fight a looming recession, but while officials say the government is preparing measures to support demand, they are likely to fall well short of the big stimulus the world is hoping for. The decade-long economic expansion has showered the U.S. with new wealth, driven by a booming stock market. But half of U.S. households have seen little gain, as it has become more difficult to buy a first home. Argentina’s creditors face debt restructuring dilemma. Australia posts its first current account surplus in 44 years. Turkey's Inflation is flashing green for sequel to record rate cut.

 

FINANCIAL TIMES

[I]  Investors pile into gold as trade war rumbles on

[I]  Argentina’s creditors face debt restructuring dilemma

[I]  India manufacturing growth drops to its lowest level in 15 months

[I]  Cost soars for Labour’s pledge to reshape the economy

[I]  China’s economy shows signs of resilience despite trade war

[I]  Hong Kong raises stakes with state of emergency signal

[I]  Turkey’s economy grows faster than predicted in second quarter

[I]  Central banks will need new tools in next downturn

[I]  Record high remittances are not without risks

 

REUTERS

[I]  Automakers in India demand tax cuts, analysts slash forecasts as sales plummet

[I]  South Korean inflation hits record low, fans case for more rate cuts

[I]  India's seizures of smuggled gold jumps in June quarter: government official

[I]  India manufacturing growth at 15-month low in August: PMI

[I]  U.S. and Poland urge tougher checks on foreign influence over 5G networks

[I]  Chinese face-swapping app goes viral, sparks privacy concerns

[I]  Argentines wait at banks to withdraw cash as currency controls kick in

[I]  Australia posts record surplus but retail sales soggy

[I]  India's July infrastructure output up 2.1%

 

BLOOMBERG 

[I]  Johnson Threatens Oct. 14 Election in Battle Over No-Deal Brexit

[I]  China, U.S. Struggle to Set Meeting as Tariffs Erode Trust

[I]  The World’s Factories Are Stalling as Tariff Pain Spreads

[I]  China’s Economy Will Grow at 5.7% in 2020, Oxford Economics Says

[I]  India Bonds Rally, Rupee Falls as Weak GDP Spurs Rate-Cut Bets

[I]  Australia Posts Its First Current Account Surplus in 44 Years

[I]  Turkey's Inflation Flashing Green for Sequel to Record Rate Cut

 

WALL STREET JOURNAL

[I]  Germany’s Small Steps Into Stimulus Are Unlikely to Meet Economists’ Hopes

[I]  Small Businesses’ Economic Faith Tested by Tariffs

[I]  Strength in U.S. Consumer Spending Drives Economy

[I]  Historic Asset Boom Passes by Half of Families

[I]  Trade Disputes Curb Global Factory Activity as Confidence Wanes

 

BUSINESS LINE

[I]  Govt restores duty-free replenishment facility for jewellery exporters

[I]  India Inc’s overseas borrowings more than double to $4.98 billion in July

[I]  PAN will be generated automatically if taxpayer uses Aadhaar for filing returns: CBDT

[I]  Asian factories lashed by trade wars, slowing demand in August

[I]  India Inc’s overseas borrowings more than double to $4.98 billion in July

[I]  India’s sugar stockpile threatens to drag down global prices

 

ECONOMIC TIMES

[I]  There is need to support export-oriented industries to boost growth: Finance Secretary

[I]  Core sector growth slows to 2.1% in July

[I]  Fitch Solutions says India GDP growth to rebound at slower pace

[I]  India's growth likely reached a trough in June quarter; recovery cycle to be elongated: UBS

[I]  August PMI manufacturing activity slows to 15-month low

 

BUSINESS STANDARD

[I]  Economic slowdown, low GDP growth likely to hurt banks' earnings: Analysts

[I]  Fintech committee recommends new legal framework for consumer protection

[I]  Economists predict deeper interest-rate cuts, slow economic growth

[I]  Growth of 8 core sectors slows to 2.1% in July, recovers from 50-month low

[I]  More than 260,000 people in danger of losing jobs over lapsing mines

[I]  Railways testing waters for locomotives to run on lithium-ion batteries

[I]  Banks to seamlessly share data on frauds through dedicated exchange

 

MARKETS (10:00 am)

[I]  SGX NIFTY Fut: 10942;  USDINR DGCX: 72.4900;  DJIA Mini: 26260;  FTSE 100 Fut: 7292;  NIKKEI 225 Fut: 20640;  EUR-USD: 1.0939; Crude Oil (WTI): 54.89;  Gold (Spot): 1525

 

Best Regards, ARBIND
03 Sep 2019