MACRO ECONOMIC NEWS

DANCING WITH THE TUNE OF ENVIRONMENT IS BEING ALIVE. WISHING A VIBRANT DAY AHEAD.

Macro Economic News 26 Nov 2019

 

M&A in auto sector up 73% to $449 million in CY19 despite slowdown. India’s direct tax collection is at 38 per cent of budget estimate; GST around 50 per cent during April-Oct of FY20. Govt lists activities that will not qualify for lower corporate tax scheme. DBS sees weakness in the crucial consumption sector is likely to be extended into the quarter along with tepid private sector activities leading The Real GDP to print 4.3 per cent YoY in 3Q vs 2Q’s 5 per cent. Only 61% households used LPG for cooking as of Dec 2018, shows NSO data. Federal Reserve Chairman Jerome Powell said the central bank cut interest rates this year in part because officials concluded the economy wasn’t as strong as anticipated when the Fed lifted rates last year.  U.S.-based chip-tech group moving to Switzerland over trade curb fears. China central bank warns high financial risks amid rising economic headwinds. China and U.S. hold phone call on trade talks to discuss core issues while China wants deeper educational links with Britain. Brazil needs to keep up the reform momentum whereas EU and Britain have had the same trade priorities.

 

FINANCIAL TIMES

[I]  Yankee dollar is king in anti-imperialist Venezuela

[I]  Rural land reform upsets China’s villagers

[I]  September drop in trade dashes world recovery hopes

[I]  Unesco accord pushes for recognition of educational qualifications

[I]  China wants deeper educational links with Britain

[I]  Brazil needs to keep up the reform momentum

[I]  EU and Britain have had the same trade priorities

 

REUTERS

[I]  China, U.S. hold phone call on trade talks, discuss core issues

[I]  Oil prices steady amid hopes for U.S.-China trade deal

[I]  U.S.-based chip-tech group moving to Switzerland over trade curb fears

[I]  "Resilient" Germany heading for fourth-quarter growth as business morale rises

[I]  China central bank warns high financial risks amid rising economic headwinds

 

BLOOMBERG 

[I]  Recession Warning of Inverted Yield Curve Looks So Last Year

[I]  Fed's Powell Says U.S. Economy's Glass Is ‘More Than Half Full’

[I]  This Is How The Millennial Generation Was Shaped By Economic Crisis And Precarity

[I]  India’s Big Plan to Bring Rupee Trading Home Is an Uphill Task

[I]  Poland Repatriates 100 Tons of Gold From Bank of England Storage

[I]  Auto Industry Basks in a ‘False Sense of Security’ Over Trade

 

WALL STREET JOURNAL

[I]  Powell Says Fed’s Rate Cuts Reflect More Bearish View of Economy

[I]  U.S. Firms Pull Back on Investment

[I]  What Bad News? Investors Keep Stocks Rising

[I]  Fed Officials Close to Filling Two Top Markets Jobs

[I]  Automobile Woes Cast Cloud Over Eastern Europe

 

BUSINESS LINE

[I]  Govt has its task cut out as direct tax, GST mop-up slows

[I]  Penalties from errant food companies up 23%: FSSAI

[I]  Taxation Law (Amendment) Bill introduced in Lok Sabha

[I]  Govt culls software development, four other biz from 15% corporate tax rate

[I]  DBS sees further economic slowdown in 2019

[I]  UK India Business Council to strengthen business ties

 

ECONOMIC TIMES

[I]  Cash still the king in India's realty market

[I]  India stares at a new cybersecurity risk

[I]  Dairy out of India-US trade talks for now

[I]  NSO survey finds big rural-urban divide in computer, internet use

[I]  View: As growth tapers, here's what can be done to revive the economy

 

BUSINESS STANDARD

[I]  'Ride shock' awaits car buyers waiting for better offers ahead of BSVI

[I]  Govt lists activities that will not qualify for lower corporate tax scheme

[I]  M&A in auto sector up 73% to $449 million in CY19 despite slowdown

[I]  Only 61% households used LPG for cooking as of Dec 2018, shows NSO data

[I]  No consensus on India's concerns over taxing digital firms at OECD meet

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 12121;  USDINR DGCX: 71.6800;  DJIA Mini: 28085;  FTSE 100 Fut: 7408;  NIKKEI 225 Fut: 23420;  EUR-USD: 1.1011; Crude Oil (WTI): 58.01;  Gold (Spot): 1454

 

Best Regards, ARBIND
26 Nov 2019