MACRO ECONOMIC NEWS

THE INNER TRANQUILLITY IS PERMEATING SERENITY INTO SURROUNDINGS. WISHING A COMPOSED DAY AHEAD.

Macro Economic News 24 Oct 2019

 

India calls for reforming Non-Aligned Movement. IMF sees Indian economic growth rebounding to 7 per cent next fiscal. India has lifted the price at which it buys locally produced new-season wheat but the rise was the lowest in five years. Rating agencies see risk of contagion in India's financial sector is rising. Bond defaults are the highest on record as India’s economy slows. India announced an almost $8 billion plan to help loss-making state telecom providers BSNL and MTNL catch up with private competitors, including a merger of the two companies. The global auto industry is going through a shakeout rarely seen outside recessions. It is hitting structural headwinds that are raising costs and constraining sales—and slowing the global economy. EU member states delayed a decision on whether to grant Britain a three-month Brexit extension, while Prime Minister Boris Johnson said if the deadline is deferred to the end of January he would call an election by Christmas. Japan factory activity shrinks at quickest pace since 2016 in October - flash PMI. Singapore central bank chief says slowdown may be nearing end.

 

FINANCIAL TIMES

[I]  Moscow emerges as powerbroker after Putin-Erdogan pact

[I]  Tusk seeks EU consensus on fresh Brexit delay

[I]  Ross looks to negotiations to ease trade dispute with EU

[I]  Economic malaise behind Latin America’s year of unrest

[I]  Russia looks to translate Gulf’s warm welcome to cold cash

[I]  Most humans can’t resist the lure of luxury living

 

REUTERS

[I]  India announces $8 billion plan to revive BSNL, MTNL

[I]  Risk of contagion in India's financial sector rising - rating agencies 

[I]  Pound pauses for breath on Brexit limbo, dollar stable

[I]  Japan factory activity shrinks at quickest pace since 2016 in October - flash PMI

[I]  Chile sees first major organised labour strikes since president pledged social reforms

[I]  India raises wheat buying price, makes exports unviable

[I]  EU keeps UK waiting on Brexit delay, Johnson gears for an election

[I]  Workers in pain: Employers take a new twist to prevent costly injuries

[I]  UK-EU regulatory dialogue key to post-Brexit financial trade - banking official

[I]  China implementing new rules to make business easier - state planner

 

BLOOMBERG 

[I]  Singapore Slowdown May be Nearing End, Central Bank Chief Says

[I]  Bargain Hunters Revel as Hong Kong Businesses See Life or Death

[I]  U.S. Currency Manipulation Threat Puts Asia Nations on Guard

[I]  Fourth Rate Cut Is in the Cards for Bank Indonesia

[I]  Global Takeovers Drop to Eight-Year Low

[I]  Vulnerable Bank Stocks in India Are a Risk for Index Investors

[I]  Bond Defaults Are the Highest on Record as India’s Economy Slows

[I]  Unhappy Americans, Asia’s Currency Risk, ECB vs Germany: Eco Day

[I]  U.K.’s Dirty Money Trail Leads to Private Schools, Crocodile Handbags

[I]  Final Countdown to Draghi Features Five Rate Decisions in Region

[I]  Mario Draghi Reaches the End of His Fight to Save Euro

 

WALL STREET JOURNAL

[I]  ‘Peak Car’ Is Holding Back the Global Economy

[I]  Fed to Increase Temporary Liquidity Available To Markets

[I]  Rising California Gasoline Prices Highlight Growing Divide in U.S.

[I]  Trump Administration Sues California Over Cap-and-Trade Market

[I]  Does Oregon Have the Answer to High Housing Costs?

 

BUSINESS LINE

[I]  Centre approves norms to grant ownership in Delhi’s unauthorised colonies

[I]  Companies with a minimum net worth of ₹ 250 crore can now sell petrol and diesel

[I]  IMF sees Indian economic growth rebounding to 7 per cent next fiscal

[I]  CCEA approves new MSP rate for rabi crops, wheat floor price goes up to Rs 1925

[I]  IMD sounds cyclone alert in Arabian Sea

 

ECONOMIC TIMES

[I]  India's banking sector stares at a bigger crisis

[I]  India calls for reforming Non-Aligned Movement

[I]  IMF doesn't think India's bad days will stay

[I]  Why the US needs more of India’s best and brightest

[I]  How mortgage lending became a hot potato

[I]  How are RBI rate cuts affecting bond yields and rupee dynamics

[I]  Bumper harvest in Jammu & Kashmir keeps apple prices low

[I]  Govt hikes MSP for wheat by Rs 85/qtl; pulses up to Rs 325/qtl

[I]  India unlikely to benefit from US-China trade tensions: EIU

[I]  Non-personal data panel eyes public consultation

 

BUSINESS STANDARD

[I]  India Inc Q2 earnings start on positive note, tax rate cut boosts profit

[I]  Govt approves BSNL-MTNL merger, clears Rs 70,000-crore relief package

[I]  Govt relaxes fuel retailing norms, private firms can set up petrol pumps

[I]  Agents of foreign firms seek GST exemption, cite govt body clarifications

[I]  India is likely to move up in Ease of Doing Business report of World Bank

[I]  Cabinet approves agreement with other countries in medicine, science & tech

[I]  Mauritius' regulator red-flags removal of investment status by Sebi

[I]  P-note investments dip for fourth straight month in Sept at Rs 76,611 cr

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11669;  USDINR DGCX: 70.7725;  DJIA Mini: 26809;  FTSE 100 Fut: 7230;  NIKKEI 225 Fut: 22760;  EUR-USD: 1.1140; Crude Oil (WTI): 55.55;  Gold (Spot): 1493

 

Best Regards, ARBIND
24 Oct 2019