MACRO ECONOMIC NEWS

BLESSED ARE THE PURE HEARTS - CHILDLIKE CANDID. WISHING AN INNOCENT DAY AHEAD.

Macro Economic News 21 Nov 2019

 

Forget the QR code, facial recognition could be the next big thing for payments in China. Asian shares slide as Sino-U.S. spat on Hong Kong clouds trade deal outlook following global shares sliding on Thursday as a fresh row between Washington and Beijing over U.S. bills on Hong Kong. Trade talks between the U.S. and China are in danger of hitting an impasse, threatening to derail the Trump administration’s plan for a limited pact this year as both sides stand firm on key issues including tariffs and agricultural purchases. China lowered its lending benchmark rate again to reduce company funding costs and shore up an economy hurt by slowing demand and U.S. trade tariffs. Federal Reserve officials worried that weakness in manufacturing, trade and business investment could threaten the economic expansion by triggering cutbacks in hiring and consumer spending while Fed governor Lael Brainard said she doesn’t think the central bank is doing enough to counter growing financial imbalances in an environment of low interest rates and heightened economic uncertainty. Bank Indonesia is set to hit pause after four cuts. India is heading for an economic growth of below 5% while cabinet approves code to allow fixed-term employment. PE/VC firms invested over $2 bn in Indian NBFCs, despite IL&FS crisis of 2018.

 

FINANCIAL TIMES

[I]  Trump directed Ukraine pressure campaign, EU envoy says

[I]  BoJ’s stock-buying programme starts to sputter

[I]  France and Italy warned by Brussels over high debt levels

[I]  Berlin urges Nato rethink after Macron criticism

[I]  Self-driving car groups face stricter safety oversight

[I]  Impact investing about more than saving world

[I]  Green QE would provide a big economic stimulus

 

REUTERS

[I]  India tightens rules on loan default disclosure for public firms

[I]  India grants telcos relief by deferring spectrum payments

[I]  U.S. House passes Hong Kong rights bills, Trump expected to sign

[I]  Singapore upgrades third-quarter GDP, dodges recession

[I]  Trump says U.S. is still talking to China on trade 

[I]  Argentina's political uncertainty and debt crisis torpedo green energy push

[I]  China trims new benchmark lending rate again to shore up sputtering economy

 

BLOOMBERG 

[I]  OPEC’s Flaring Political Crises Add New Risk for Oil Supplies

[I]  World’s Largest Pension Fund Keeps Analysts in Dark on Portfolio

[I]  Festival of Lights Fails to Revive India’s Sullen Animal Spirits

[I]  Vietnam Takes ‘Drastic Steps’ to Stop Fraudulent Exports to U.S.

[I]  IMF Says Mexico Credit Line May Be Cut From Current $74 Billion

[I]  Bank Indonesia Set to Hit Pause After Four Cuts: Decision Guide

[I]  Lane Says ECB Will Decide to Launch Policy Review Fairly Soon

[I]  U.S.-China Trade Deal Inches Ahead, Shadowed by Failure Risk

[I]  U.S. Agricultural Trade Surplus Shrinks to Smallest Since 2006

 

WALL STREET JOURNAL

[I]  Fed Officials Cut Rates Last Month Amid Worries on Trade, Growth

[I]  Fed Officials Weighed Money-Market Control Strategies at October Meeting

[I]  What Fewer Billionaires Could Mean for the Rest of Us

[I]  Which College Graduates Make the Most?

[I]  Stalled U.S.-China Trade Talks Raise Threat of Another Impasse

[I]  Fed’s Brainard Urges More Action Against Financial Risks

 

BUSINESS LINE

[I]  Centre clears strategic divestment in five PSUs

[I]  Cabinet clears bill to replace ordinance on tax reduction

[I]  Govt mulls providing forex loan at cheaper rate to exporters: Goyal

[I]  No proposal to link social media accounts of individuals to Aadhaar, says Ravi Shankar Prasad

[I]  In Maharashtra, floods make for bitter sugarcane harvest in the current season

[I]  Centre plans sops to lure foreign companies

[I]  States worried over delay in GST compensation

[I]  Telecom, aviation, auto sectors report highest losses in Q2

[I]  India, Europe 29 nations to cooperate in AI, green energy

 

ECONOMIC TIMES

[I]  Why govt and NSSO should not hide data

[I]  Independent directors rush for the exit door

[I]  All hopes dim, India heads for new GDP low

[I]  The $15 billion reason why Asia bond defaults could rise

[I]  India is heading for an economic growth of below 5%

[I]  Highway projects worth Rs 15 lakh cr ready to be offered in next 5 yrs: VK Singh

[I]  Cabinet approves code to allow fixed-term employment

 

BUSINESS STANDARD

[I]  Sebi makes it mandatory for listed firms to disclose each loan default

[I]  Breather for telcos: 2-year moratorium on payment of spectrum dues

[I]  Govt clears Code on Industrial Relations Bill; retrenchment norms not eased

[I]  Residential property sales will take a year to improve, say top realtors

[I]  PE/VC firms invested over $2 bn in NBFCs, despite IL&FS crisis of 2018

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11976;  USDINR DGCX: 71.8225;  DJIA Mini: 27677;  FTSE 100 Fut: 7211;  NIKKEI 225 Fut: 22770;  EUR-USD: 1.1076; Crude Oil (WTI): 57.11;  Gold (Spot): 1475

 

Best Regards, ARBIND
21 Nov 2019