HAPPINESS IS CRAZY; SOMETIMES IT COMES IN ABUNDANCE ON WEEKEND. WISHING AN ELEGANT WEEKEND AHEAD.

Macro Economic News 28 Sep 2019

 

India is looking to ease foreign investment limits in government bonds, as it seeks to get its securities included in global bond indexes in the next two years. India's oil imports from Iraq surged to a record high in August as refiners replaced costly African imports with cheaper Basra crude as per the tanker arrival data obtained from industry and shipping sources. Irish Foreign Minister Simon Coveney warned that time was running out for Britain and the European Union to hammer out a divorce deal with the British Brexit minister also saying the moment of truth was approaching. U.S. inflation slowed in August after a pickup in the previous month, as lower prices for energy, food and durable goods offset steady growth in services prices.

 

FINANCIAL TIMES

[I]  Trump considers ban on Chinese listings in US

[I]  IPO crashes send chills from Wall Street to Silicon Valley

[I]  Splits at the ECB top table over Draghi’s stimulus

[I]  Cooling US economy muddies waters for Fed

[I]  IMF says Greece needs lower fiscal targets

[I]  Japan and EU sign deal in riposte to China’s Belt and Road

[I]  Energy groups risk ‘misleading’ customers over renewable claims

[I]  German scepticism of ECB reveals eurozone paradox

 

REUTERS

[I]  India looks to ease foreign investment limits in government bonds: sources

[I]  India's monsoon set for delayed retreat

[I]  Spillover: world economies' next big headache

[I]  Moment of truth coming for Brexit with time running out, EU and Britain say

[I]  India's Iraq oil imports jump to a record in August - trade data

[I]  Southeast Asia catches swine fever, U.S. crop exporters get the chills

[I]  China's August industrial profits fall as headwinds hit firms

 

BLOOMBERG 

[I]  White House Weighs Limits on U.S. Portfolio Flows Into China

[I]  Intelligence Watchdog to Brief House Panels: Impeachment Update

[I]  The Fed Is Girding for Repo Trouble Monday Even as Market Calms

[I]  Slowing Economy and Deflation Cause China’s Company Profits to Drop

[I]  IPO Collapse Threatens 2020 Class of Unicorn Hopefuls

[I]  Hunt for Tax Havens Fuels $47 Billion Stampede Into Muni Debt

 

WALL STREET JOURNAL

[I]  Global Slowdown Spreads Across U.S. Economy

[I]  U.S. Inflation Decelerated in August

[I]  Central-Bank Hawks Raise Their Voices Against Low Rates

[I]  Trump’s Fed Attacks Are Helping to Drive Rate Cuts, Paper Says

[I]  Fed Adds $110.1 Billion to Financial System in Latest Transaction

[I]  Many Manufacturers’ Ups and Downs Have Little to Do With Trump

[I]  Fed’s Harker: Fed Should Hold Firm on Rates Right Now

 

BUSINESS LINE

[I]  ‘Thailand keen to export rubber products to India’

[I]  Capex touches 40% in April-August period

[I]  Monsoon to get extended life as fresh 'low's are forecast

[I]  Key product categories of construction equipment sector see 16% drop in volumes

[I]  Area sowed under Kharif crosses 100 million hectares

 

ECONOMIC TIMES

[I]  India's NPAs could be a blessing in disguise

[I]  Delayed rains brighten prospects of Rabi output: India Ratings

[I]  Total government liabilities rise to Rs 84.6 lakh crore in Q1: Finance Ministry report

[I]  Govt stops import incentives for exporters of gold medallions and coins

[I]  India's economy to be world's 2nd fastest growing at 6%

 

BUSINESS STANDARD

[I]  EPFO audit shows serious gaps in management of provident fund accounts

[I]  Farm income and wages fell in demonetisation year, reveals new data

[I]  RBI's new norms can bring more efficiency in a bank's liquidity management

[I]  Duty-free gold import junked for machine-made jewellery export

[I]  Revenue dept reviewing India's low-benefit free trade agreements

[I]  Copper in India to lose sheen due to demand-supply mismatch: CARE

[I]  New promoter norms may bring down the liability for some stakeholders

 

Best Regards, ARBIND

28 Sep 2019

CELEBRATION IS AWAITING EAGERLY; ITS FRIDAY AGAIN. WISHING A SATISFYING DAY AHEAD.

Macro Economic News 27 Sep 2019

 

Indian Govt might seek extension of ECB to boost NBFC credit in economy. Indian economy loses Rs 1.17 trillion due to smuggling, says study. Major central banks have seen more internal dissent over adding stimulus or have opted to leave monetary policy unchanged in recent weeks, a shift after a wave of easing earlier this year amid cooling global growth. Boosting manufacturing has been a central policy aim for President Trump. But many economic forces at play are beyond the control of any president. Americans pay about 86% of their federal taxes, leaving a $381 billion annual gap between taxes owed and taxes collected, according to an IRS study. Tokyo inflation slows to 16-month low, poses challenge to BOJ's 2% target. China's top diplomat says Beijing willing to buy more U.S. products.

 

FINANCIAL TIMES

[I]  IMF warns Zimbabwe over payouts to Trafigura partner

[I]  ‘German problem’ at ECB exposed by latest departure

[I]  Complex task of forming coalition falls to Netanyahu

[I]  France pledges €10bn tax cuts amid deficit warning

[I]  US bids to curb China’s lead in critical minerals

[I]  Japanese business leaders welcome partial US trade deal

 

REUTERS

[I]  India's economic growth to improve in second half of fiscal 2020: finance minister

[I]  British PM Johnson says tempers need to calm after Brexit furore

[I]  Internet sector contributes $2.1 trillion to U.S. economy: industry group

[I]  Its leash lengthened, China's yuan flirts with trade war role

[I]  Brexit may have 'gravest of consequences' for health: UK lawmaker

[I]  Lagarde must smooth ECB feathers after top hawk quits

[I]  Tokyo inflation slows to 16-month low, poses challenge to BOJ's 2% target

[I]  China's top diplomat says Beijing willing to buy more U.S. products

 

BLOOMBERG 

[I]  China's Coal-Dominated Power Sector Inches Toward Market Prices

[I]  Mexico Protesters Vandalize Central Bank, Presidential Palace

[I]  Trade War Hasn’t Stopped Wall Street’s $9 Billion China Rush

[I]  Big Reads on Economics Show Battle Lines Drawn on Climate Action

[I]  U.K. Consumers Are ‘Treading Water’ as Brexit Approaches Climax

[I]  Argentina’s Fernandez Hints at Uruguay-Style Debt Solution

[I]  Post-Crisis Rules May Hold Answer to One Repo-Market Mystery

 

WALL STREET JOURNAL

[I]  Central-Bank Hawks Raise Their Voices Against Low Rates

[I]  Trump’s Fed Attacks Are Helping to Drive Rate Cuts, Paper Says

[I]  Fed Adds $110.1 Billion to Financial System in Latest Transaction

[I]  Many Manufacturers’ Ups and Downs Have Little to Do With Trump

[I]  Millennials Continue to Leave Big Cities

[I]  U.S. Tax Compliance Holds Flat at 86%

[I]  U.S., Japan Sign Trade Deal on Farm Goods, Digital Trade

 

BUSINESS LINE

[I]  Economy will bounce back in second half with festival season: Nirmala Sitharaman

[I]  Thanks to the new online system, GST refunds will be seamless, pick up speed: GSTN chief

[I]  It’s discount time for auto and electronic companies

[I]  South Asia Climate Forum sees a normal North-East monsoon this year

 

ECONOMIC TIMES

[I]  India turns to UAE to fill in for Saudi oil

[I]  Dollar supported by safety flows; euro at new 2-year low

[I]  Not just onions, now tomatoes too will pinch your pocket

[I]  Corporate tax cut: Issue of carrying forward losses vexes companies in red

[I]  Demonetisation cases: CBDT extends taxman's deadline to December 31

[I]  Govt may trim PSU ownership below 51% as it plans to sell

 

BUSINESS STANDARD

[I]  Govt seeks steep cut in devolution to states from existing 42% of tax pool

[I]  Govt might seek extension of ECB to boost NBFC credit in economy

[I]  Indian economy loses Rs 1.17 trillion due to smuggling, says study

[I]  RBI's liquidity committee favours long-term lending operations

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11596;  USDINR DGCX: 71.2800;  DJIA Mini: 26845;  FTSE 100 Fut: 7328;  NIKKEI 225 Fut: 21740;  EUR-USD: 1.0922; Crude Oil (WTI): 56.11;  Gold (Spot): 1506

 

Best Regards, ARBIND
27 Sep 2019

THE UNIVERSE IS ON YOUR SIDE; FOR A BETTER TODAY. WISHING A SUPERIOR DAY AHEAD.

Macro Economic News 26 Sep 2019

 

Millions of Indians do not have secure water supplies, according to the UK-based charity, WaterAid. It says 12% of Indians, or about 163 million people, do not have access to clean water near their homes - the biggest proportion of any country. Latin America’s third-biggest economy is repeating a pattern that has dogged it for over 70 years, running out of hard currency while grappling with inflation and contraction.  The Federal Reserve Bank of New York said it would increase the size of overnight cash loans to $100 billion from $75 billion. IMF head warns of world’s ability to handle global slump.

 

FINANCIAL TIMES

[I]  Sea level rises faster as polar ice melts, warns UN report

[I]  US blacklists Chinese companies for shipping Iran oil

[I]  US and Japan sign partial trade agreement

[I]  Netanyahu offered chance to form Israeli coalition

[I]  German business calls for end to new borrowing ban

[I]  IMF head warns of world’s ability to handle global slump

[I]  Asia’s emerging economies are winning US-China trade war

 

REUTERS

[I]  Japan to invest $10 billion in global LNG infrastructure projects: minister

[I]  How a sanctions-busting smartphone business thrives in North Korea

[I]  U.S., Japan sign limited trade deal, leaving autos for future talks

[I]  Iran demands U.S. 'pay more' for a wider deal

[I]  India’s stuttering economy hits global oil demand: Kemp

[I]  Trade tensions darken growth outlook for developing Asia: ADB

[I]  U.S. consumer confidence falls in September, trade fears dominate

 

BLOOMBERG 

[I]  Trading Impeachment Threat Is Mission Impossible for Wall Street

[I]  India’s Animal Spirits Are Hushed as Consumer Demand Remains Elusive

[I]  These Charts Show How Much China’s Home Builders Are Struggling

[I]  China Defaults Set to Worsen as $8.6 Billion Bonds Due Next Year

[I]  India’s Corporate Tax Cut Makes Rupee Carry Trade More Lucrative

[I]  U.K. Car Production Halts Slide -- Thanks to Brexit Confusion

[I]  India Scrambles for LPG to Meet Peak Demand as Saudis Defer Flow

[I]  Yen is Weakening And Its Worst Quarter is Around the Corner

 

WALL STREET JOURNAL

[I]  Why Argentina Faces an Economic Crisis. Again.

[I]  New York Fed Boosts Size of Repurchase Operations

[I]  Reforms Have Made Banks Safer but Markets More Brittle

[I]  U.S., Japan Sign Trade Deal on Farm Goods, Digital Trade

[I]  IMF Approves Bulgaria’s Georgieva as New Chief

[I]  The Farm Belt’s Miserable Year

[I]  Fed's Evans Doesn't See More Rate Cuts for 2019

 

BUSINESS LINE

[I]  ‘The message to banks is clear: Benefits should reach consumers’

[I]  Recent policy changes present an opportunity to reset the economy: Sachidanand Shukla

[I]  ADB cuts India’s GDP growth forecast to 6.5% for FY20

[I]  Kris Gopalakrishnan’s five tips to entrepreneurs to build a lasting business

[I]  TN sugar producers seek support from govt to tide over crisis

 

ECONOMIC TIMES

[I]  Double-A bonds may be allowed as collateral in money market

[I]  14.24 lakh new jobs created in July: ESIC payroll data

[I]  Ongoing global uncertainties dampen M&A deal activity in August: Report

[I]  Challenge before India is to grow at 8-9 per cent and sustain it: Amitabh Kant

[I]  Infra companies, SEZ units unclear on use of MAT credits

[I]  UNCTAD sees India growth moderating to 6% in 2019

[I]  Direct tax code panel for DDT removal to promote investment

[I]  Andhra Pradesh may junk blanket industrial incentives

 

BUSINESS STANDARD

[I]  Extending debt instrument maturity is like default: Sebi circular

[I]  Govt to soon unveil norms to protect winning bidders in IBC cases

[I]  Homebuyers unlikely to gain from reduction in corporation tax rates

[I]  Come to India, if there's any gap I'll act as bridge: Modi tells investors

[I]  India, US fail to seal trade deal over differences on import duties

[I]  At 6%, UN body projects 7-year low GDP growth for India in 2019

[I]  Banks to discontinue cashback on credit card payments at petrol pumps

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11495;  USDINR DGCX: 71.0475;  DJIA Mini: 26942;  FTSE 100 Fut: 7252;  NIKKEI 225 Fut: 21920;  EUR-USD: 1.0958; Crude Oil (WTI): 56.52;  Gold (Spot): 1509

 

Best Regards, ARBIND
26 Sep 2019

GOD HAS ARRANGED SOMETHING BETTER FOR US. WISHING A DIVINE DAY AHEAD.

Macro Economic News 25 Sep 2019

 

Global debt surges to highest level in peacetime. Global trade tensions weighed on major world economies in September, as U.S. business activity picked up only slightly and European output slowed. German business morale improves in September. Philippines to cut anew as Thailand holds; RBNZ sees scope to cut rates again if needed to boost growth. China says has no intention to play 'Game of Thrones' but won't be threatened on trade, whilst China’s shadow banking industry roars back. U.S. home price growth loses momentum.  An additional 1.3 million Americans are set to qualify for overtime pay under a retooled Labor Department regulation. India’s tax cut euphoria wanes as economists count cost.

 

FINANCIAL TIMES

[I]  Trump admits withholding Ukraine aid as scandal grows

[I]  Global debt surges to highest level in peacetime

[I]  Humiliated Johnson’s Brexit plan in disarray

[I]  India’s tax cut euphoria wanes as economists count cost

[I]  German business morale improves in September

[I]  Trump castigates Iran’s ‘repressive regime’ at UN

[I]  China central bank head warns on regional lenders

[I]  China’s shadow banking industry roars back

 

REUTERS

[I]  Trump says he sees U.S.-India trade deal soon

[I]  China says has no intention to play 'Game of Thrones' but won't be threatened on trade

[I]  BOJ Masai says ready to ease further if price momentum lost

[I]  Dollar hobbled by Trump impeachment inquiry, weak U.S. data

[I]  U.S. consumer confidence falls in September, trade fears dominate

[I]  BOJ discussed need for preemptive response to risks: July minutes

[I]  German downturn 'taking a breather' but recession still looms: Ifo

 

BLOOMBERG 

[I]  Markets Rattled by Barrage of Familiar Woes. And One Newcomer.

[I]  Philippines to Cut Anew as Thailand Holds: Rate Decision Guide

[I]  Gold Gets Another Boost as U.S. Risks Strengthen Case for Havens

[I]  RBNZ Sees Scope to Cut Rates Again If Needed to Boost Growth

[I]  China’s Economy Struggling Across All Sectors, Beige Book Says

 

WALL STREET JOURNAL

[I]  More Workers to Qualify for Overtime

[I]  U.S. Home Price Growth Loses Momentum

[I]  Lower-Income Americans Increasingly Job Hopping

[I]  Trade Subdues U.S. Business Activity, Weighs on Europe

[I]  Mexico-Canada Trade Pact’s Fate in House Hangs on Support of Labor

[I]  Brazil Opens Up an Economy Long Shielded From Competition

 

BUSINESS LINE

[I]  Modi, Trump discuss trade but no deal in sight yet

[I]  Will high auction prices of limestone affect margins of cement makers?

[I]  Govt notifies EPF interest rate at 8.65 per cent for FY19

[I]  Corporate tax stimulus might not lead to higher buybacks or dividends

[I]  India must aspire to be top recipient of FDI: Ravi Shankar Prasad

 

ECONOMIC TIMES

[I]  NPAs are giving banks a new cause for worry

[I]  MSMEs get 2nd shot to reclaim belly-up firms

[I]  Companies in core sector, SEZs unclear on use of MAT credits

[I]  Trade deal with India soon: Donald Trump

[I]  Multiple threats looming on Indian apparel exports: Report

[I]  Govt needs to exempt tax on interest earned under senior citizens scheme: SBI study

[I]  DGTR sets up help desk and facilitation centre for full utilisation of trade remedial measures

[I]  View: India should now move to standardised, stable and easily understood rates of taxation

 

BUSINESS STANDARD

[I]  US-India trade deal very soon, says Donald Trump after meeting with PM Modi

[I]  RBI places restrictions on Punjab & Maharashtra Co-op Bank's biz for 6 mths

[I]  Direct tax code panel calls for branch profit tax on foreign companies

[I]  Bank mergers may bring down the curtains for old-world forex brokerages

[I]  Linking loans to external benchmark: Why it won't be easy for banks

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11604;  USDINR DGCX: 71.0325;  DJIA Mini: 26881;  FTSE 100 Fut: 7238;  NIKKEI 225 Fut: 21870;  EUR-USD: 1.1002; Crude Oil (WTI): 56.96;  Gold (Spot): 1529

 

Best Regards, ARBIND
25 Sep 2019