MACRO ECONOMIC NEWS

TOUCH A TENDER HEART AND SMILE WITH IT; THIS TUESDAY. WISHING A CARESSING DAY AHEAD.

Macro Economic News 21 Jan 2020

 

Half the world’s GDP depends on nature and it is in risk of disruption and BIS says, central banks can't save the world from climate change. IMF predicts global economy will rebound in 2020 expanding by 3.3% in 2020, up from 2.9% in 2019, though it tones down the risk warnings and raises forecast for Japan’s economy this year. Moody has downgraded Hong Kong’s credit rating as the economy walks into recession. France signals breakthrough in US digital tax talks while Britain and EU are reading to do battle again as trade talks near. New overseas investment by businesses around the world fell for the fourth-straight year in 2019 to its lowest level in almost a decade, pointing to a slowdown in globalization as the world-wide economy cooled. United Nations report says, India was among the top 10 recipients of Foreign Direct Investment in 2019, attracting USD 49 billion in inflows, a 16 per cent increase from the previous year, driving the FDI growth in South Asia. New legislation, according to the draft, will improve protection for foreign investors in India by offering relief from possible policy changes but will uphold the state's right to tax them. While consumer confidence plunges 7.3% in January 2020, IMF lowers India’s FY20 growth estimate to 4.8% and blames India for global slowdown. PwC Global CEO survey finds India still fourth-most attractive market. OXfam finds wealth of India's richest 1% is more than 4-times of total for 70% poorest. India's top 63 billionaires have more wealth than 2018-19 Budget outlay.

 

FINANCIAL TIMES

[I]  IMF trims global forecast as Davos delegates gather

[I]  Britain to scrap foreign aid for coal mining abroad

[I]  France signals breakthrough in US digital tax talks

[I]  Putin publishes reforms that open way for indefinite rule

[I]  Business must not give up on cross-border co-operation

[I]  Dangerous loss of corporate influence on energy policy

 

REUTERS

[I]  New Indian law to protect foreign investors to exclude tax demands: documents

[I]  UK to introduce tougher jail terms for convicted terrorists after London Bridge attack

[I]  Richest richer than over half of humanity: report

[I]  BOJ to hold fire on receding pessimism over global outlook

[I]  Britain and EU ready to do battle again as trade talks near

[I]  Central banks can't save the world from climate change, BIS says

[I]  No turning point in sight as IMF predicts sluggish global growth

 

BLOOMBERG 

[I]  IMF Trims Global Economic Outlook, But Tones Down Risk Warnings

[I]  What to Watch in U.S. Corporate Credit Markets This Week

[I]  Lagarde Prepares to Modernize ECB With a Plan for the 2020s

[I]  Gold Imports by India May Rebound From a Three-Year Low

[I]  Most of China’s Provinces See Economy Slowing in 2020

[I]  South Africa to Overhaul GDP Data From September

[I]  IMF Raises Forecast for Japan’s Economy This Year

[I]  Moody’s Downgrades Hong Kong for ‘Inertia’ Over Protests

 

WALL STREET JOURNAL

[I]  IMF Predicts Global Economy Will Rebound in 2020

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

[I]  Moody’s Downgrades Protest-Torn Hong Kong, Citing Weak Government

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

[I]  Capitalism Draws Fire, Despite Strong Global Economy

[I]  Economy Week Ahead: ECB, BOJ Meetings; U.S. Existing Home Sales

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

 

BUSINESS LINE

[I]  IMF cuts global growth forecasts as India falters, says bottom may be near

[I]  ‘Indian agri sector taking baby steps towards demand-driven value chain’

[I]  Global slowdown: Significant easing ahead with policy push, says BNP Paribas

[I]  Half the world’s GDP depends on nature, and it is in risk of disruption

 

ECONOMIC TIMES

India wants to protect its foreign investors, but there's a catch

India has a plan to lend NBFCs a helping hand

Consumer confidence plunges 7.3% in January 2020: Report

India attracted $49 billion FDI in 2019, among top 10 recipients of overseas investment: UNCTAD

IMF lowers India’s FY20 growth estimate to 4.8%

Wealth of India's richest 1% more than 4-times of total for 70% poorest: Oxfam

 

BUSINESS STANDARD

OMCs float season's 2nd tender, seek 2.5 bn litres ethanol from sugar mills

Domestic air passenger traffic grows by just 3.74% in 2019: DGCA

Curbs on sale of duty-free liquor likely to increase cost of air travel

India's top 63 billionaires have more wealth than 2018-19 Budget outlay

IMF blames India for global slowdown, lowers 2019 growth forecast to 4.8%

India still fourth-most attractive market, shows PwC Global CEO survey

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 12207;  USDINR DGCX: 71.0975;  DJIA Mini: 29348;  FTSE 100 Fut: 7659;  NIKKEI 225 Fut: 23899;  EUR-USD: 1.1092; Crude Oil (WTI): 58.60;  Gold (Spot): 1568

 

Best Regards, ARBIND
21 Jan 2020