MACRO ECONOMIC NEWS

ARISE AND AWAKE TO THE ASTONISHING ATMOSPHERE ALL AROUND. WISHING AN AMAZING WEEK AHEAD.

Macro Economic News 14 Oct 2019

 

Global economy enters period of ‘synchronised stagnation’. Singapore central bank eases policy as economy avoids recession. Small steps toward a trade truce between China and the U.S. last week likely aren’t enough to diminish uncertainties that are holding back global economic growth. China’s economy keeps flashing warning signs that it is losing steam—but, unlike past episodes, Beijing isn’t likely to stoke the fires to boost growth. As per RBI data, GNPA for PSBs in agriculture sector crosses Rs 1-trillion mark. Housing slump in India is about to leave banks badly exposed.  The new resolution mechanism for finance companies may apply only to limited set of entities; deposit taking and systemically important NBFCs may be kept out. World Bank slashes India growth forecast for FY20 to 6% from 7.5%. Rs 25 lakh crore will be spent for infrastructural development in villages: PM Modi.

 

FINANCIAL TIMES

[I]  Brussels baffled by UK proposals on Brexit deadlock

[I]  Global regulator step up scrutiny of Libra

[I]  Argentina’s economic woes spell doom for Macri’s election prospects

[I]  Investment pot overflows as German infrastructure crumbles

[I]  Russia looks at alternatives to dollar for energy sales

[I]  Global economy enters period of ‘synchronised stagnation’

[I]  Bank of England is a captive of groupthink

 

REUTERS

[I]  Realty bites: Indian property slump leaves beleaguered banks exposed

[I]  India investing $60 billion on gas grid to link up nation by 2024

[I]  BoE might not be able to cut rates if Brexit delayed again: Ramsden

[I]  Japan sends in troops after deadly typhoon floods towns, threatens more damage

[I]  What to watch in third quarter earnings from U.S. companies

[I]  Trump sees 'good things' in trade talks; China dangles partial deal

[I]  California's new normal - evacuating wildfires yet again

[I]  Turkey intensifies Syria campaign as Islamic State strikes Kurds

[I]  Indian festival fails to buoy gold demand; China awaits trade verdict

[I]  Exclusive: India may restrict imports of palm oil, other goods from Malaysia - sources

[I]  India's September passenger vehicle sales dive 24% as slowdown persists

 

BLOOMBERG 

[I]  Trump Has Real Reasons to Fixate Over the Stock Market

[I]  Is the World Economy Sliding Into First Recession Since 2009?

[I]  The Frenzied Fortnight That’s Set to Seal the Fate of Brexit

[I]  Global Hunt for Yield Prompts Fresh Surveillance by Regulators

[I]  Raising the Retirement Age Won’t Be Easy in South Korea

[I]  Chinese Shoppers and Investors Are Losing Their Appetite for Gold

[I]  Singapore Central Bank Eases Policy as Economy Avoids Recession

[I]  Labour Nationalizations Would Cost U.K. $250 Billion, CBI Says

 

WALL STREET JOURNAL

[I]  Trade Uncertainty Clouds Global Growth Prospects

[I]  China, Facing Slowdown, Unlikely to Push for More Stimulus

[I]  China Emerges With Wins From U.S. Trade Truce

[I]  America Is Losing the Chinese Shopper

[I]  Fed Will Purchase Treasury Bills at Least Into Second Quarter of 2020

[I]  Xi and Modi Talk Up Trade, but Turn Aside Touchy Topics

[I]  Economy Week Ahead: U.S. Retail Sales and China GDP

[I]  Newsletter: Trump Talks With China, Manufacturing Is In a Recession and Brexit Looks a Little Brighter

 

BUSINESS LINE

[I]  Insolvency Law Committee plans to meet on October 15 to discuss new reforms for IBC

[I]  USD 60 billion investment coming in gas infrastructure: Dharmendra Pradhan

[I]  PMO reviewed GST collection issues with States

[I]  Air India convenes divestment meeting with unions on Monday

[I]  Conditions favourable for N-E monsoon to set in by October 17, says Met

[I]  India needs ‘butterfly’ entrepreneurs: Vineet Nayar

[I]  We need to improve the tight credit situation: NITI-Aayog VC

[I]  India, China agree to set up new mechanism for issues ...

 

ECONOMIC TIMES

[I]  Housing slump about to leave banks badly exposed

[I]  Festival fails to buoy gold demand; China awaits trade verdict

[I]  World Bank slashes India growth forecast for FY20 to 6% from 7.5%

[I]  Bangladesh, Nepal ahead of India as growth in South Asia slows down: World Bank report

[I]  EPFO backs plan to allow subscribers’ NPS switch

[I]  Rs 25 lakh crore will be spent for infrastructural development in villages: PM Modi

[I]  Govt working to cut stake to below 51% yet retain control of CPSEs

[I]  OECD proposal on taxing MNEs to benefit countries like India: Experts

 

BUSINESS STANDARD

[I]  Q2 earnings preview: Low demand, high discounts may hit auto players

[I]  Despite economic slowdown, realty majors hope to cash in on festivities

[I]  GNPA for PSBs in agriculture sector crosses Rs 1-trillion mark: RBI data

[I]  Workforce to consumption: India, China's economies explained in 6 charts

[I]  Number of taxpayers rises nearly 14%, but returns filed fall 2% in FY19

[I]  Govt reviewing proposal to allow workers to switch between EPS and NPS

[I]  PSUs lose 22% in 2019 amid market volatility and multiple headwinds

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11292;  USDINR DGCX: 70.9975;  DJIA Mini: 26827;  FTSE 100 Fut: 7225;  NIKKEI 225 Fut: 22040;  EUR-USD: 1.1027; Crude Oil (WTI): 54.42;  Gold (Spot): 1487

 

Best Regards, ARBIND
14 Oct 2019