MACRO ECONOMIC NEWS

LET US GET USED TO USE THE WIGGY WINGS TO FLY. WISHING A DETERMINED DAY AHEAD.

Macro Economic News 18 Feb 2020

 

According to a report by World Population Review, India becomes 5th largest economy overtaking UK and France while President Ram Nath Kovind said that the government is taking several steps to strengthen the rural economy and has announced it will spend ₹25-lakh crore on the agriculture sector whereas Moody’s lowers GDP growth rate to 5.4 per cent for 2020 and IMF says that India's GST collections are below potential. India's annual coal power output falls for first time in a decade whereas India's poultry industry has lost 13 billion rupees in three weeks after speculation on social media that chickens are a cause of the spread of coronavirus. India is targeting revenues of $70-80 billion from software products by the end of 2025. Japan’s economy shrinks 6% as sales-tax rise cools consumption while following a dismal final quarter of 2019, Japan’s economy is facing the risk of a recession because of slowing tourism and production. China’s central bank cut a crucial interest rate that could pave the way for lower benchmark lending rates, as Beijing moved to support an economy. Euro edges lower on economic pessimism and Aussie gets hit by rate outlook while IHS Markit finds UK households' confidence in finances hitting record high in February. RBA reviewed further rate-cut case, being worried about borrowing while Zimbabwe Central Bank to settle $1.2 billion of legacy debt with annual inflation dropping tenfold in 12 months.

 

FINANCIAL TIMES

[I]  UK Brexit chief rejects EU’s ‘level playing field’

[I]  Germany’s minimum wage boosted productivity

[I]  EU in fresh effort to enforce UN arms embargo on Libya

[I]  Argentina needs a plan for investment-led growth

 

REUTERS

[I]  India's annual coal power output falls for first time in a decade

[I]  Euro edges lower on economic pessimism, Aussie hit by rate outlook

[I]  Japan Inc wary about wage hikes as 'Abenomics' sputters: Reuters poll

[I]  Britain won't heed EU rules to win free trade: PM aide

[I]  Argentine bonds teeter on signals expected from IMF about debt revamp talks

[I]  Euro zone cautiously eyes fiscal boost as virus uncertainty looms

[I]  UK households' confidence in finances hits record high in February - IHS Markit 

[I]  Japan on brink of recession as economy contracts, virus heightens risk 

[I]  BOJ's Kuroda flags more easing if virus impact worsens - Sankei

 

BLOOMBERG 

[I]  Buyout Firms Lead $17 Billion Battle for Thyssenkrupp Unit

[I]  China Stock Recovery Nearing $1 Trillion Is Now Drawing Skeptics

[I]  What the Coronavirus Means for the World's First Pandemic Bonds

[I]  RBA Reviewed Further Rate-Cut Case, Worried About Borrowing

[I]  Zimbabwe Central Bank to Settle $1.2 Billion of Legacy Debt

[I]  Zimbabwe Sees Annual Inflation Dropping Tenfold in 12 Months

 

WALL STREET JOURNAL

[I]  Japan’s Economy Shrinks 6% as Sales-Tax Rise Cools Consumption

[I]  How High Should Government Debt Go? Economists Can’t Agree

[I]  China’s Central Bank Cuts Rate on One-Year Medium-Term Lending Facility

[I]  Coronavirus Fight Brings Its Own Kind of Pain to Small Businesses

[I]  Economy Week Ahead: Fed Minutes, PMI, Home Builders, Realtors Data

[I]  U.S. Consumer Spending Picks Up, While Manufacturing Declines

 

BUSINESS LINE

[I]  STPI looks at double-digit growth in IT exports

[I]  Private equity flows hit high of $48 billion in 2019

[I]  Govt working to boost rural economy, raise farmers’ income: President

[I]  Moody’s lowers GDP growth rate for 2020 to 5.4 per cent

[I]  FM to start-ups: Will look into ESOP tax related issue

 

ECONOMIC TIMES

[I]  Why a simplified tax regime is the need of the hour

[I]  RBI's 3-year repo auction sees hefty demand

[I]  India becomes 5th largest economy, overtakes UK, France: Report

[I]  India's GST collections are below potential: IMF team

[I]  National Cyber Security Strategy to go for cabinet nod soon: Rajesh Pant

 

BUSINESS STANDARD

[I]  Flurry of tax notices puts private companies' directors in a spot of bother

[I]  Tax cut widens gap between high fliers and laggards in corporate earnings

[I]  NSO's consumer spend report showing first fall in 40 yrs won't be released

[I]  India's poverty rate slipped to 6.3% in FY18, says Surjit Bhalla

[I]  Decline in global merchandise trade volumes to continue for now: WTO

[I]  Govt must continue reforms, green shoots of recovery need to sustain: RBI

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 12027;  USDINR DGCX: 71.3975;  DJIA Mini: 29398;  FTSE 100 Fut: 7342;  NIKKEI 225 Fut: 23237;  EUR-USD: 1.0831; Crude Oil (WTI): 51.67;  Gold (Spot): 1587

 

Best Regards, ARBIND
18 Feb 2020