MACRO ECONOMIC NEWS

LET YOUR ALIVENESS ENTHUSE WITH A LOVING WONDER. WISHING A LIVELY DAY AHEAD.

Macro Economic News 22 Jan 2020

 

China battles spread of Sars-like coronavirus as China virus spreads to the U.S., curbing travel plans and spooking markets. U.S. threats to place tariffs on some of its closest allies—just days after reaching an initial trade deal with China—show that economic pressure is still President Trump’s preferred weapon in international disputes. UK pushes on with digital tax in face of US anger while in Davos, bankers push back against climate action calls. Eurozone corporate loan demand slides for first time in six years whilst Australian consumer gloom worsens amid devastating bushfires. South Korea posts slowest annual GDP growth since financial crisis despite it growing at fastest quarterly pace since 2017. Indonesia plans to overhaul laws to raise foreign investment whereas Malaysia rate cut prospects ease as risks recede. To give a fillip to the country’s exports which have been falling for the last five months, Indian exporters have sought an export development fund with an annual corpus of half a percentage of annual exports and a double tax deduction for MSMEs. Car sales in India are back in red zone, again while financial crisis in tea sector deepens and companies put up estates for sale whereas to build strong ecosystem, govt sets up National Startup Advisory Council.

 

FINANCIAL TIMES

[I]  UK to push on with digital tax in face of US anger

[I]  Saudi women embrace new freedoms

[I]  Turkey eyes EU aid as investment pays off for Syrians

[I]  Davos 2020: Bankers push back against climate action calls

[I]  China battles spread of Sars-like coronavirus

[I]  Putin reshuffles Russia cabinet to try to spur economy

[I]  Eurozone corporate loan demand slides for first time in six years

[I]  Indonesia plans to overhaul laws to raise foreign investment

 

REUTERS

[I]  China virus spreads to U.S., curbing travel plans and spooking markets

[I]  Indian state refiners near first annual deals to buy Russian oil - sources

[I]  Australian consumer gloom worsens amid devastating bushfires

[I]  South Korea posts slowest annual GDP growth since financial crisis 

[I]  South Korea central bank warns spread of coronavirus may hurt private consumption 

 

BLOOMBERG 

[I]  Foreigners Dump Indian Bonds Fearing Widening Budget Deficit

[I]  Investors in India Hope to See Tax on Equity Gains Scrapped

[I]  As Coronavirus Spreads, Economists Run the Numbers on China

[I]  S. Korean Economy Grows at Fastest Quarterly Pace Since 2017

[I]  Even the Richest Nordic Economy Isn’t Giving Up Monetary Support

[I]  Big Australia Investors to Take Riskier Bets in Hunt for Returns

[I]  Billions of Dollars May Come for India Stocks After Rule Tweak

[I]  Malaysia Rate Cut Prospects Ease as Risks Recede: Decision Guide

[I]  U.S. Anti-OPEC Efforts Fading as Cartel’s Influence Seen Waning

 

WALL STREET JOURNAL

[I]  Trade Tensions With Europe Flare as Trump Flexes Economic Muscle

[I]  President Trump Lauds U.S. Economy as He Opens World Economic Forum

[I]  IMF Predicts Global Economy Will Rebound in 2020

[I]  Foreign Investment Falls to Near-Decade Low as Globalization Slows

[I]  Slower Growth Has Latin America Bracing for More Instability

[I]  Davos’s Creator Still Believes the Conference Can Bridge Divides

 

BUSINESS LINE

[I]  FIEO seeks export development fund, double tax deduction for MSMEs

[I]  NITI Aayog’s push for island tourism has no takers

[I]  Zero budget natural farming good for soil, but may leave India hungry: Study

[I]  IMF cuts India’s growth estimate further

[I]  10% increase likely in Bengal potato output this season

 

ECONOMIC TIMES

[I]  Car sales are back in red zone, again

[I]  Need to have fairer, more equitable terms in trade relations: Piyush Goyal

[I]  BRICS countries need to deepen innovation ties: Report

[I]  India needs $2.64 tn investment to meet SDGs by 2030: Report

[I]  Nearly half billion people lack decent jobs: UN

[I]  CII suggests easing of certain norms to enhance liquidity for NBFCs, HFCs

[I]  Budget Wish List: Simplify tax laws, dispute resolution, say experts

 

BUSINESS STANDARD

[I]  FMCG recovery likely in 2020; Nielsen, CRISIL predict double-digit growth

[I]  Real estate companies rush to occupy growing co-living market in India

[I]  Financial crisis in tea sector deepens; companies put up estates for sale

[I]  To build strong ecosystem, govt sets up National Startup Advisory Council

[I]  Despite recovery in exports to US, India's textile exports decline 8%

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 12220;  USDINR DGCX: 71.2950;  DJIA Mini: 29239;  FTSE 100 Fut: 7554;  NIKKEI 225 Fut: 23990;  EUR-USD: 1.1078; Crude Oil (WTI): 58.34;  Gold (Spot): 1553

 

Best Regards, ARBIND
22 Jan 2020