MACRO ECONOMIC NEWS

SOMEONE IS SIMPLY SEEKING YOUR LOVE; JUST LOVE. WISHING AN AFFECTIONATE WEEK AHEAD.

Macro Economic News 16 Sep 2019

 

Oil prices soar 10% after attack on Saudi facilities hits global supply. India is staring at a price flare-up after drone attack on Saudi oil facility. Auto sector's rate-cut hopes fade as GST cess collection declines. Debt of NBFCs is fast catching up with non-finance companies. Iran dismissed accusations by the United States that it was behind attacks on Saudi oil plants that risk disrupting global energy supplies and warned on Sunday that U.S. bases and aircraft carriers in the region were in range of its missiles. The strikes on Saudi oil facilities likely would have a limited direct effect on the U.S. economy, but could result in higher gas prices, potentially exerting an additional drag on slowing global growth, economists say. China August industrial output grows at slowest pace in 17-1/2 years. 'Very difficult' for China's economy to grow 6% or faster: Premier Li. The Trump administration has considered whether to use currency intervention as a weapon in its trade war, which has raised a host of questions among investors and traders, including whether such an effort would work.

 

FINANCIAL TIMES

[I]  Saudi Arabia faces weeks without full oil production

[I]  Chinese groups turn seller to shed $40bn in global assets

[I]  Trade gloom drives French and German divergence

[I]  Attack on Saudi oil fuels Iran tensions

 

REUTERS

[I]  Iran dismisses U.S. claim it was behind Saudi oil strikes, says ready for war

[I]  China August industrial output grows at slowest pace in 17-1/2 years

[I]  'Very difficult' for China's economy to grow 6% or faster: Premier Li

[I]  Oil prices soar 10% after attack on Saudi facilities hits global supply

[I]  UK employers cut growth forecasts as Brexit, global slowdown weigh

[I]  EU businesses warn no-deal Brexit would be disaster

[I]  India sets up fund to complete stalled housing projects

[I]  EU warns of instability after Saudi oil attacks

[I]  Afghan Taliban send team to Russia after U.S. talks collapse

[I]  Germany warns against early troop withdrawal from Afghanistan

 

BLOOMBERG 

[I]  China's Bond Traders Stuck With a Market That Just Doesn't Move

[I]  Japan’s Biggest Bank Pushes Deeper Into Europe’s CLO Market

[I]  China’s Economy Slows as Industrial Output Weaker Than Expected

[I]  Hong Kong Property Hunters Grab Bargains in Wake of Protests

[I]  Emerging-Market Rally May Hinge on Stimulus. Just Not Too Much

[I]  Fed Doves Fear Risks Abroad While Hawks See a Solid Home Front

 

WALL STREET JOURNAL

[I]  Strong U.S. Dollar Prompts Speculation of Trump Intervention

[I]  Saudi Oil Attack Is Unlikely to Dent U.S. Economy

[I]  Economy Week Ahead: Fed Policy Statement, Home Sales, Industrial Production Data

[I]  How Once-Doomed Mortgage Giants Gained New Lease on Life

[I]  Auto Sales Revved Up August Retail Spending

[I]  China to Exempt U.S. Soybeans, Pork From Punitive Tariffs

[I]  Newsletter: ECB’s Big Splash, America’s Big Deficit, and Inflation’s Mild Return

 

BUSINESS LINE

[I]  India staring at a price flare-up after drone attack on Saudi oil facility

[I]  RCEP: Farmers’, civil society groups, unions seek more talks

[I]  Discoms’ dues to power firms rise 57% in July

[I]  To boost exports, housing sector, FM Nirmala Sitharaman announces fresh stimulus package

[I]  Singapore eyes over a million visitors from India in 2019

[I]  GST: Aadhaar verification to be mandatory for new dealers from January 2020

 

ECONOMIC TIMES

[I]  Attacks knock out half of Saudi oil supply

[I]  IPO market: Only 11 cos hit bourses this year compared to 24 in 2018

[I]  SBI shelves IPO plans for general insurance arm; card JV to hit market in Q4

[I]  How wheat can help in fight against ‘hidden hunger’

[I]  Incentives for exports to boost shipments: Exporters

[I]  View: Government should lift the conventional veil of secrecy in Budget-making

[I]  Government mulls measures to improve financial health of State Trading Corporation

 

BUSINESS STANDARD

[I]  Auto sector's rate-cut hopes fade as GST cess collection declines

[I]  How fast is India's start-up universe expanding? Explained in 7 charts

[I]  Electronics manufacturers ask govt to take steps to boost exports

[I]  Drive to install smart meters in every household is off to a slow start

[I]  SC rejects plea seeking clarity on restructuring wages for EPF deduction

[I]  Is agriculture credit being used for the right purpose? RBI questions

[I]  Debt of NBFCs fast catching up with non-finance companies: Details here

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11002;  USDINR DGCX: 71.2000;  DJIA Mini: 27067;  FTSE 100 Fut: 7328;  NIKKEI 225 Fut: 21880;  EUR-USD: 1.1076; Crude Oil (WTI): 60.00;  Gold (Spot): 1504

 

Best Regards, ARBIND
16 Sep 2019