MACRO ECONOMIC NEWS

THERE IS A WILL AND THERE IS A WAY; WATCH IT THIS WEEKEND. WISHING A FABULOUS  WEEKEND AHEAD.

Macro Economic News 21 Sep 2019

http://eco.isead.in/

India cut corporate tax rates in a surprise move designed to woo manufacturers, revive private investment and lift growth from a six-year low that has led to major job losses and fuelled discontent in the countryside. British Prime Minister Boris Johnson will hold talks with European leaders on the sidelines of the UN General Assembly (UNGA) in New York next week as part of his push to secure a Brexit deal by the end of October. A U.S.-China trade deal appeared elusive after Chinese officials unexpectedly cancelled a visit to farms in Montana and Nebraska as deputy trade negotiators wrapped up two days of negotiations in Washington. Fed Chairman Jerome Powell’s press conference this week carried a subtle message for President Trump: If you’re worried about an economic slowdown, find a way to cool down the trade war. IMF says downside risks to N.Z. economy have increased. 

FINANCIAL TIMES

[I] Fed announces new effort to soothe money markets

[I] Millions join largest climate protest in history

[I] Germany unveils sweeping measures on climate change

[I] Japan plans to tighten rules on foreign investment

[I] UK Brexit plans fail all basic backstop tests, warns EU

[I] The Fed must be ready for trouble not normality

[I] Great State: China and the World — trade stand-offs aren’t new

[I] Big price drops get Esher property market moving

[I] British Virgin Islands’ prime property faces financial storm

REUTERS

[I] India cuts corporate taxes to boost manufacturing and revive growth

[I] Rating firm S&P Global says India's corporate tax cuts 'credit negative'

[I] United States sending troops to bolster Saudi defences after attack

[I] Hopes for trade breakthrough fade as China cancels U.S. farm visits

[I] UK PM Johnson to meet European leaders in New York in push for Brexit deal

[I] China says Maldives is not 'mired in a Chinese debt trap'

[I] U.S. sanctions Iran's central bank, fund after Saudi oil attack

BLOOMBERG 

[I] IMF Says Downside Risks to N.Z. Economy Have Increased

[I] Saudi Oil Attack: Where Are We a Week On and What Happens Next?

[I] Trade War Bolsters Chinese Interest in Manufacturing in Thailand

[I] Repo Crisis Becomes Machiavellian Investor Opportunity

[I] New U.S. Rent Regulations Already Eroding Values of Apartments

[I] The Financial System’s Plumbing Is Clogged

[I] Everyone Is Running Up Debt Except America’s States and Cities

WALL STREET JOURNAL

[I] Powell’s Subtle Messaging to Trump on Trade Fight

[I] Pace of Growth Slowed for U.S. Household Net Worth in Second Quarter

[I] Fed Officials Explain Dissents From Rate Cut

[I] Home Sales Inch Up, Raising Hopes That Slump Is Easing

[I] Fed Will Weigh Resuming Balance Sheet Growth at October Meeting

BUSINESS LINE

[I] Tax cuts will give infra sector a boost: Crisil

[I] Bank credit must grow 12% year-on-year for India to become a $5-t economy: SBI

[I] GST rate cut will boost tourism, says hotel industry

[I] E-format of vehicle papers valid only on mParivahan, Digilocker: Ministry

[I] Hotel tariffs, outdoor catering get GST rate cuts

[I] India's corporate tax rate is now among the lowest globally

[I] Finance Minister unleashes corporate ‘animal spirits’

[I] Fiscal deficit likely to rise by 30-40 basis points

ECONOMIC TIMES

[I] Has FM done enough? The math behind corporate tax cut

[I] India's consumption scene is not that gloomy

[I] FM turns around many rules of business in one go

[I] Council 'nod' to link Aadhaar with GST registration

[I] Government committed to nurturing private sector, achieving 8 per cent growth doable: NITI

[I] India’s budget gap seen widening to four-year high on tax cuts

[I] Corporate tax cut: Investment en route as FM soups up engine

[I] New SEZ investments made attractive

BUSINESS STANDARD

[I] Improve revenue buoyancy, Finance Commission chairman asks states

[I] Market celebrates corporate tax cut with biggest rally in 10 years

[I] Corporate tax cut a big positive, but demand recovery may take time

[I] FM Nirmala Sitharaman announced loan 'mela' despite banks' reluctance

[I] How India's new corporate tax rates compares with its Asian counterparts

[I] CSR expansion to boost research impact, rankings for public universities

[I] RBI tightens norms for banks, up penalties for failed ATM transactions

Best Regards, ARBIND

21 Sep 2019