MACRO ECONOMIC NEWS

WE ARE CREATED TO CRAFT THE CONSTRUCT OF NATURE. WISHING AN INVENTIVE DAY AHEAD.

Macro Economic News 03 Dec 2019

 

Europe Set for Green Deal That Will Radically Change Its Economy, while the U.N. secretary-general Antonio Guterres said that the world must choose hope over surrender in the fight against climate change. U.S. President Donald Trump ambushed Brazil and Argentina, announcing tariffs on U.S. steel and aluminum imports from the two countries along with proposing tariffs of up to 100% against $2.4 billion of French imports, saying the tariffs are justified because of a new digital-services tax imposed by France that weighs heavily on U.S. tech companies. Growth in U.S. exports of services has stalled, raising questions about the country’s supremacy in an area in which it has long enjoyed a comparative advantage. EU chief issues Brexit warning over City of London access while Irish and UK consumer sentiment bounces as no-deal Brexit fears ease. Turkey’s economy rebounds to generate year on year growth. Indian government has decided to make hallmarking of jewellery and artefacts mandatory from January 2021. India's economic growth likely to remain subdued in near future while Crisil cuts FY20 growth forecast to 5.1%. Central Government has indicated of no proposal to reduce taxes on petrol, diesel, while CV sales drop 17% in November on slowdown and delay in infra projects. Manufacturing activity in India improves in Nov, but firms cut operating costs and jobs whereas over 3.38 lakh firms deregistered in last two years.

 

FINANCIAL TIMES

[I]  Beijing retaliates against Trump’s signing of Hong Kong act

[I]  EU chief issues Brexit warning over City of London access

[I]  Germany pulls back from recent overt criticism of ECB

[I]  Finland pushes for regional fund cuts in EU budget talks

[I]  Russia launches gas pipeline to China

[I]  Lagarde urges ECB to find ‘healthy’way of tolerating dissent

[I]  Turkey’s economy rebounds to generate year on year growth

 

REUTERS

[I]  India's manufacturing growth picks up in November - PMI

[I]  Trump, citing U.S. farmers, slaps metal tariffs on Brazil, Argentina

[I]  Trump hits U.S. allies with new trade pain in one-day whirlwind

[I]  U.S. proposes 100% tariffs on French Champagne, cheese, handbags over digital tax

[I]  Chile announces $5.5 billion economic recovery plan as protests bite

[I]  Irish consumer sentiment bounces as no-deal Brexit fears ease

[I]  UK shoppers cast off Brexit blues to spend more in November - BRC

[I]  U.S. vows 100% tariffs on French Champagne, cheese, handbags over digital tax

 

BLOOMBERG 

[I]  Europe Set for Green Deal That Will Radically Change Its Economy

[I]  Steepest India Yield Curve in Nine Years is Set to Rise Further

[I]  Rich-World Problem of Lowflation Has Arrived in Emerging Markets

[I]  Warren Win Unlikely to ‘Crush’ Equity Market, Bernstein Says

[I]  U.S. Weapons Sales to Thailand Have a New Competitor: China

[I]  A $25 Trillion Stock Rally Was Built on GDP Growth No Better Than This

[I]  Bankers Hit by Record Negative Rates Told to Gird for Next Wave

[I]  Moon’s Property Rules Weigh on South Korea’s Growth

[I]  Mortgage Sector Is on Its Longest Winning Streak Since the End of 2017

 

WALL STREET JOURNAL

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

[I]  Trump Administration Proposes Tariffs on $2.4 Billion of French Goods

[I]  China Manufacturing Gauges Point to Improving Economy

[I]  Why You Shouldn’t Expect Rates to Head Upward for a While

[I]  Economy Week Ahead: November Jobs Report, Manufacturing Data

[I]  Credit Unions Outgrow Their Down-Home Reputation

 

BUSINESS LINE

[I]  Jewellery industry gearing up for mandatory hallmarking

[I]  Firms shedding jobs dampens manufacturing recovery in November

[I]  Crisil cuts FY20 growth forecast to 5.1%

[I]  No proposal to reduce taxes on petrol, diesel: Central Government

[I]  Over 3.38 lakh firms deregistered in 2 years

[I]  Production of kharif rice, pulses, and oilseeds to be down

 

ECONOMIC TIMES

[I]  No direct sops for junking old cars

[I]  Rural India achieved 100 pc ODF status: Govt

[I]  LS passes Bill to effect corporate tax reduction

[I]  India's merchandise & services exports stood at $538 bn in 2018-19: Piyush Goyal

[I]  India's economic growth likely to remain subdued in near future: Report

[I]  Projects worth Rs 50,000 cr underway to decongest Delhi roads : Gadkari

 

BUSINESS STANDARD

[I]  FM Sitharaman ends MAT confusion: Reduced rate to be applicable from FY20

[I]  Domestic steelmakers raise product prices for a second straight month

[I]  CV sales drop 17% in November on slowdown, delay in infra projects

[I]  Govt blocks GST e-way bill generation; move may impact 300,000 firms

[I]  Manufacturing activity improves in Nov, but firms cut operating costs, jobs

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 12081;  USDINR DGCX: 71.7975;  DJIA Mini: 27819;  FTSE 100 Fut: 7303;  NIKKEI 225 Fut: 23320;  EUR-USD: 1.1072; Crude Oil (WTI): 56.16;  Gold (Spot): 1463

 

Best Regards, ARBIND
03 Dec 2019