MACRO ECONOMIC NEWS

PROMISING IS TO PROMISE A LIFE OF ‘EMPTY AND MEANINGLESS’ AND COMMITTED TOGETHERNESS; MY PROMISE. WISHING A REASSURING DAY AHEAD.

Macro Economic News 11 Feb 2020

 

India, as per defence and industry sources, is set to give final approval to a $2.6 billion deal for military helicopters from U.S. defence firm Lockheed Martin ahead of a proposed visit by U.S. President Donald Trump this month. Coal imports in November rose 8.6 per cent from a year earlier to 21.83 million tonnes, as per government data, following three straight months of decline.  President Trump unveiled a $4.8 trillion budget that charts a path for a potential second term, proposing steep reductions in social-safety-net programs and foreign aid, but higher outlays for defense and veterans. UK shoppers are still wary about spending in January while China struggles to return to work after coronavirus shutdown whereas Global emissions remain static for first time in 10 years. EU regulator call for clearer rules on rescuing banks while RBI publishes draft framework for new payment system. Government seeks to recast model concession agreement for PPP projects at major ports while Bill moved in Rajya Sabha to set up panel to vet FDI proposals in ‘critical’ sectors.

 

FINANCIAL TIMES

[I]  Race to succeed Merkel thrown open as heir apparent steps aside

[I]  China struggles to return to work after coronavirus shutdown

[I]  Global emissions static for first time in 10 years

[I]  EU regulator call for clearer rules on rescuing banks

[I]  UK adopts powers to enforce coronavirus quarantine

[I]  US must dial down the fizz in the opaque world of private capital

 

REUTERS

[I]  India readying $2.6 billion U.S. naval helicopter deal ahead of Trump trip

[I]  China reports record daily virus death toll, but new cases fall

[I]  RBI publishes draft framework for new payment system

[I]  Coronavirus could trim 1 percentage point from China GDP growth: government researcher

[I]  As coronavirus fails to ease, interest in 'force majeure'

[I]  Coronavirus seen trimming Singapore visitors by nearly a third this year

[I]  UK shoppers still wary about spending in January - BRC

 

BLOOMBERG 

[I]  U.K. Post-Election Economic Bounce Questioned in Retail Data

[I]  Sanctions Push Iran Past Russia as Biggest Buyer of Indian Tea

[I]  Bond Funds Jump Into Korea on Bets Virus Will Spur Rate Cut

[I]  How the Rise of Passive Investing May Be Creating Huge Distortions in the Market

[I]  Trump’s Debt Balloons, WTO Subsidy Revoked, N.Z. Rates: Eco Day

[I]  U.S. Revokes WTO Subsidy Preferences for Some Developing Nations

[I]  Consumer Insolvencies Approach Record in Debt-Weary Canada

 

WALL STREET JOURNAL

[I]  Trump Proposes $4.8 Trillion Budget, With Cuts to Safety Nets

[I]  Fed Chairman Heads to Capitol Hill Facing New Questions Over Growth Risks

[I]  Coronavirus Drives China’s Inflation to Highest Level in Over Eight Years

[I]  Coronavirus Toll on Shipping Reaches $350 Million a Week

[I]  Fed’s Daly Says Low Jobless Rate Not Automatic Sign of Tight Labor Market

[I]  Fed's Bowman: Current Fed Policy Will Support Expansion

[I]  Newsletter: Cutting the Safety Net

[I]  Economy Week Ahead: Fed Chair Testifies, U.S. CPI and EU Trade Data

 

BUSINESS LINE

[I]  India coal imports rise in November 2019

[I]  Auto sales continue to decline in January

[I]  Government seeks to recast model concession agreement for PPP projects at major ports

[I]  FM holds meeting with industry on direct tax dispute resolution scheme

[I]  ‘No plans to give permanent status to Finance Commission’

[I]  India on track to become self-sufficient in pulses: Union Agriculture Minister

[I]  Bill moved in Rajya Sabha to set up panel to vet FDI proposals in ‘critical’ sectors

 

ECONOMIC TIMES

[I]  Cotton, yarn, rajma trade with China comes to a halt

[I]  Centre to strive for making India top producer of seafood

[I]  Not easy to predict when demand will revive: Sanjiv Puri

[I]  Indian inflation likely hit a near six-year high in January

[I]  Tax dept wants cos to pay GST on non-compete fee

[I]  FM holds meeting with industry on direct tax dispute resolution scheme

[I]  Streamlining policies & procedures in relation to disposal of public grievances: Labour minister

 

BUSINESS STANDARD

[I]  States may not get GST compensation in full, says Finance Ministry

[I]  Banks to get 5-year CRR relief for lending to auto, housing, MSMEs

[I]  Passengers shun Chinese carriers, Air India to benefit from traffic curbs

[I]  Indian drug makers take a hit on quality compliance, R&D investments

[I]  Brands turn to social media influencers for fresh looks, wider audience

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 12096;  USDINR DGCX: 71.4025;  DJIA Mini: 29319;  FTSE 100 Fut: 7436;  NIKKEI 225 Fut: 23686;  EUR-USD: 1.0915; Crude Oil (WTI): 50.11;  Gold (Spot): 1568

 

Best Regards, ARBIND
11 Feb 2020