MACRO ECONOMIC NEWS

HUMBLED ARE THE ONES WITH RENEWED STRENGTH, WALKING TO GLORY. WISHING A PIOUS DAY AHEAD.

Macro Economic News 07 Jan 2020

 

Australian firefighters used cool weather to try to strengthen containment lines around almost 200 wildfires burning in the country's southeast. State and local governments across the U.S. spend $30 billion a year to attract and keep companies, but the biggest deals generate little in the way of economic benefits in return, a new study shows. US Companies have poured more than $5.3 trillion into repurchasing their own shares since 2010. Manufacturing in the U.S. and Asia showed signs of stabilization as 2019 drew to a close, although Europe’s industrial output offered few signs of a rebound. German car orders surge to beat tighter EU rules. South Korea is looking for ways to improve ties with North. India plans to cut spending to curb deficit which may hurt growth while government plans to launch an e-commerce platform with an eye on garnering revenues. Service sector hits 5-month high in December. RBI brings in new rules to avoid another PMC; permits banks to trade in forex outside market hours while its relaxation for banks to lend Rs 3.5 trillion extra set to end.

 

FINANCIAL TIMES

[I]  US influence in Iraq wanes as Iran strengthens grip

[I]  Nato warns on Iran as EU scrambles to cool tensions

[I]  German car orders surge to beat tighter EU rules

[I]  China’s private nursing homes out of reach for most of elderly

[I]  Belarus and Russia ease tensions over oil supplies

[I]  Eurozone activity picks up despite manufacturing slump

[I]  Wall Street banks ramp up research into quantum finance

 

REUTERS

[I]  India plans to cut spending to curb deficit; may hurt growth

[I]  India gold prices hit record high on safe-haven rush, weak rupee

[I]  Australia prepares for renewed bushfire threat as economic costs mount

[I]  Singapore receives 21 applications for digital bank licences

[I]  South Korea's Moon cites 'desperate need' for ways to improve ties with North

[I]  Swiss franc holds gains, yen steady as traders eye Iran

[I]  Facing Brexit unknowns, UK financial sector pays record taxes

 

BLOOMBERG 

[I]  Gold Holds Near Six-Year High With Focus on Tehran’s Next Move

[I]  China’s Unruly Borrowers, Oil Risk, Hong Kong Landlords: Eco Day

[I]  Why So Many Emerging Markets Are Blowing Up Right Now

[I]  Hong Kong Landlords Face Tough Times as Shop, Office Rents Sink

[I]  Green Boom May Limit Japan Bond Sale Slowdown After Record

[I]  Why the U.S. Repo Market Blew Up and How to Fix It

 

WALL STREET JOURNAL

[I]  Economists Question Targeted Tax Breaks

[I]  The Debate Over Share Buybacks, Explained

[I]  Few Bank Failures Could Be a Warning Sign for U.S. Financial  System

[I]  Manufacturing Shows Stability in U.S., Asia

 

BUSINESS LINE

[I]  Service sector hits 5-month high in December: PMI survey

[I]  Higher diesel prices push up truck rentals in first week of January: IFTRT

[I]  MSP hikes leave FCI with mountains of grains

[I]  Plans afoot to launch e-comm platform for MSMEs: Gadkari

 

ECONOMIC TIMES

[I]  RBI brings in new rules to avoid another PMC

[I]  RBI permits banks to trade in forex outside market hours

[I]  DGFT told to tighten system for accrediting exporters

[I]  Service activity gains pace in December, PMI at 53.3

[I]  Private companies with large borrowings to undergo secretarial audit

 

BUSINESS STANDARD

[I]  RBI's relaxation for banks to lend Rs 3.5 trillion extra set to end

[I]  Agriculture to shipping, some ministries likely to see spending squeeze

[I]  Govt may extend safeguard duty on Chinese solar power equipment

[I]  Advance estimates of GDP to be released today, may not be closer to reality

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 12170;  USDINR DGCX: 71.9150;  DJIA Mini: 28678;  FTSE 100 Fut: 7544;  NIKKEI 225 Fut: 23553;  EUR-USD: 1.1193; Crude Oil (WTI): 62.53;  Gold (Spot): 1559

 

Best Regards, ARBIND
07 Jan 2020