MACRO ECONOMIC NEWS

MAY OUR MIND AND HEART ALWAYS ENABLE US FOR KEEPING OUR PROMISES. WISHING A PROMISING DAY AHEAD.

Macro Economic News 04 Dec 2019

 

France and the European Union said that they were ready to retaliate if U.S. President Donald Trump acted on a threat to impose duties of up to 100% on imports of champagne, handbags and other French products. President Trump said he could wait until after the U.S. election to strike a limited trade deal with China, sending stock prices down sharply and casting doubt on whether the two sides will head off new tariffs.  Sweden backs away from negative rates despite softening economy. Brazil’s economy grows faster than expected in third quarter whereas South Africa’s economy contracts in third quarter. Five interest rate cuts since the start of the year haven't stopped India's economy from slowing to its weakest growth rate since 2013, but the Reserve Bank of India is expected to make its sixth cut to give what little relief it can. Amid slowing economy, corporation tax mop-up contracts 1% in Apr-Nov whereas Government raises Rs 2.79 lakh crore through divestment in last 5 years. S&P reaffirms India's sovereign rating at BBB- with a stable outlook whilst nearly 3 per cent of Mudra loans turn into bad loans. Gold imports jump to 5-month high in Nov. Centre halves onion stock holding limit for retailers as price keeps rising whereas potato cultivation also dips in Northern India.

 

FINANCIAL TIMES

[I]  Trump says he is prepared to wait for US-China trade deal

[I]  World’s biggest pension fund strikes blow against short-sellers

[I]  Sweden backs away from negative rates despite softening economy

[I]  Brazil’s economy grows faster than expected in third quarter

[I]  Paris setback as carbon emissions set to increase

[I]  Rich-nation education splurge fails to deliver results

[I]  South Africa’s economy contracts in third quarter

[I]  Greek PM challenges Macron over move to block EU enlargement

 

REUTERS

[I]  A sixth rate cut by RBI may not be cure for economy's ills

[I]  India's November gold imports jump to 5-month high as prices retreat

[I]  Trump says China trade deal may have to wait amid sticking points in talks

[I]  Mexico resists U.S. demands on trade deal, wants Senate to back tweaks

[I]  France fights back over U.S. tariff threat to Champagne, cheese

[I]  Russians, Italians, charged for attempt to evade U.S. sanctions

 

BLOOMBERG 

[I]  Trump Sees No Deadline for China Deal as Trade Risks Roar Back

[I]  How Bond Defaults Are Changing China's Markets

[I]  Vietnamese Stocks Get Cheaper, But There Aren’t Many to Trade

[I]  Ravaged Australian Banks Face a Fresh Challenge in New Zealand

[I]  Danish Central Bank Intervenes in Currency Markets Again

 

WALL STREET JOURNAL

[I]  Trump Says Trade War With China Could Drag On

[I]  Trump Clashes With Macron at Summit

[I]  France’s Luxury Industry Braces for Tariffs

[I]  France Vows Retaliation as Luxury Industry Braces for U.S. Tariffs

[I]  Iran Cut Off From Vital Reserves, U.S. Says

[I]  U.S. Dominance in Global Services Is Starting to Weaken

[I]  Trump to Put Tariffs on Brazil, Argentina, Citing Currencies

[I]  China Manufacturing Gauges Point to Improving Economy

[I]  Newsletter: Trade Tensions Return

 

BUSINESS LINE

[I]  Taxman claims 91% refund in I-T returns

[I]  Coal mine auctions: Windfall revenue gains to States look like a pipeline dream

[I]  232 routes operational under regional air connectivity: Govt

[I]  Lakshadweep may host a depression by Wednesday

[I]  Coal India output falls 4% in November

 

ECONOMIC TIMES

[I]  FRDI Bill: The good, the bad & the ways to make it even better

[I]  A 10-step guide for India to reach $5-tn goal

[I]  Dollar nurses wounds as factory data sparks economy concern

[I]  Potato cultivation dips in Northern India

[I]  Government raises Rs 2.79 lakh crore through divestment in last 5 years

[I]  Nearly 3 per cent of Mudra loans turn into bad loans: Government

[I]  Import curbs likely on over 350 items to boost ‘Make in India’

 

BUSINESS STANDARD

[I]  Drug controller cracks whip on e-pharmacies selling drugs without licences

[I]  Amid slowing economy, corporation tax mop-up contracts 1% in Apr-Nov

[I]  S&P reaffirms India's sovereign rating at BBB- with a stable outlook

[I]  Centre halves onion stock holding limit for retailers as price keeps rising

[I]  Citizenship Bill on Cabinet agenda, Amit Shah meets Northeast CMs

[I]  GST and compensation cess review on cards as collections fall short

[I]  Govt may hike tariff on imports that escaped higher duties last year

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 12008;  USDINR DGCX: 71.9225;  DJIA Mini: 27492;  FTSE 100 Fut: 7170;  NIKKEI 225 Fut: 23100;  EUR-USD: 1.1080; Crude Oil (WTI): 56.37;  Gold (Spot): 1477

 

Best Regards, ARBIND
04 Dec 2019