MACRO ECONOMIC NEWS

HARMONY AND HONESTY HATCHES HEAVENLY HAPPINESS. WISHING A HUMBLE DAY AHEAD.

Macro Economic News 02 Oct 2019

                                                                                                                                                           

India has held off imposing a blanket ban on single-use plastics to combat pollution, officials said, a measure seen as too disruptive for industry at a time when it is coping with an economic slowdown and job losses. As per the government data, the heaviest monsoon rains to lash India in 25 years have killed more than 1,600 people since June. Collections from India’s nationwide goods and services tax (GST) fell to a 19-month low in September increasing the risk of fiscal slippage at a time when demand continued to remain weak in Asia's third largest economy. Personal Insolvency regime may be operational in a year and from April 01, over 22% GST assessees can just send an SMS for filing returns enabling easier compliance. WTO lowers world trade growth forecast to 1.2% for 2019. The global manufacturing slowdown worsened in September, and trade flows are set to grow this year at the weakest pace since the financial crisis, as tariffs rise and economic growth cools. Japan raised its national consumption tax for the first time in more than five years on Tuesday, putting the world’s third-largest economy and its cautious consumers to the test. Central banks want action on Europe’s house prices.

 

FINANCIAL TIMES

[I]  Sharp US manufacturing contraction fuels global economic gloom

[I]  Central banks want action on Europe’s house prices

[I]  Clean energy shares streak ahead of fossil fuel stocks

[I]  Gibraltar’s cross-border workers braced for no-deal

[I]  Fed wrestles with role of regulation in repo squeeze

[I]  Japan launches cashback reward to offset tax rise

[I]  Tech forecast to destroy over 200,000 US bank jobs

[I]  China state funds fail to muster private capital

 

REUTERS

[I]  More than 1,600 die in India's heaviest monsoon season for 25 years

[I]  U.S. Commerce Secretary Ross to hold talks in India amid hopes of trade deal

[I]  Japan corporate inflation expectations stagnate, keep BOJ under pressure

[I]  India Sept factory growth steady from Aug, but still weakest in over a year - PMI

[I]  RBI to pick up slack as India stimulus measures to fall short: economists

 

BLOOMBERG 

[I]  U.S. Economy’s Slowdown Spurs Concern It’s Nearing Stall Speed

[I]  Boris Johnson to Make His ‘Final’ Brexit Offer: My Deal or No Deal

[I]  As China Retreats From Global Property Deals, Korea Fills Void

[I]  Goldman Sees RBA Meeting Goals With QE of A$200 Billion

[I]  IMF’s Lipton Sees Sharper World Slowdown as Trade Tensions Flare

[I]  Zimbabwe Rejects U.S. Claim That Diamond Mine Uses Forced Labor

[I]  OPEC Suffers Another Departure With Ecuador Seeking More Cash

[I]  Taxable Muni-Bond Sales Surge as Window Opens for Refinancings

 

WALL STREET JOURNAL

[I]  Slowing Trade Hits Global Manufacturing

[I]  Manufacturing Struggles Matter More Than You Think

[I]  Fed’s Evans: U.S. Still on Path for ‘Solid’ 2.25% GDP This Year

[I]  New York Fed Adds About $54.9 Billion to Financial System

[I]  Japan’s New Tax Increase Tests Economy’s Strength

[I]  The Seven-Year Auto Loan: America’s Middle Class Can’t Afford Its Cars

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

 

BUSINESS LINE

[I]  ‘Jal Jeevan Mission aims to give tap-water to all households by 2024’

[I]  At ₹92,000 crore, GST mop-up in September dives to a 19-month low

[I]  Centre amends rules to ensure that states extend leases of mines owned by PSUs

[I]  Personal Insolvency regime to be operational in a year

[I]  WEF’s India Economic Summit to focus on innovation, technology

[I]  From April 1, over 22% GST assessees can just send an SMS for filing returns

 

ECONOMIC TIMES

[I]  Slump-hit Auto Inc is chasing glory abroad

[I]  Dollar pinned down after decade-low US manufacturing data

[I]  Realities not in corp bonds valuations

[I]  No need to panic, Indian banking system safe: RBI

[I]  New consuming class: Teenagers over 60 years

[I]  PMO mulls 'out of box' divestment idea, doubles the target to Rs 2 lakh cr: ET NOW's exclusive

 

BUSINESS STANDARD

[I]  Govt shelves plan on countrywide ban on single-use plastic products

[I]  Data of nearly 41% Indian companies was stolen last year, says survey

[I]  Car sales continue to slide in Sept despite heavy discounts and offers

[I]  Only 7% taxpayers will be required to submit monthly GST returns

[I]  WTO cuts global trade growth forecasts for 2019 to 1.2% amid slowdown

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11418;  USDINR DGCX: 71.3425;  DJIA Mini: 26578;  FTSE 100 Fut: 7292;  NIKKEI 225 Fut: 21760;  EUR-USD: 1.0937; Crude Oil (WTI): 54.18;  Gold (Spot): 1478

 

Best Regards, ARBIND
02 Oct 2019