MACRO ECONOMIC NEWS

SMILE ALONG WITH SPRINGING SMILES THIS SMILING SPRING. WISHING A CHEERFUL DAY AHEAD.

Macro Economic News 05 Feb 2020

 

India is likely to issue at least $5 billion worth of bonds with no limits on foreign investment next year, in a bid to list the bonds on global indices and attract more foreign funds. India's gold imports in January plunged 48% from a year earlier to their lowest in 4 months. Top White House economic aide said he expected the fallout from the coronavirus to delay—but not derail—the economic boost the U.S. anticipated from the first phase of the trade deal with China. The Trump administration says it will allow companies to pursue tariffs against foreign competitors if they can show those rivals have benefited from currency manipulation in their countries. Thousands of companies have asked to be exempt from the U.S. tariffs placed on Chinese-made goods, but the approval rate has sunk to just 3% in the third round of levies, down from 35% previously.  Hong Kong’s economy contracted by 1.2% last year, as global trade turbulence and months of antigovernment protests pushed the city into its first annual recession since the depths of the global financial crisis. Singapore central bank says policy stance unchanged as virus hits economy, while BOJ signals readiness to ease as virus impact clouds outlook.

 

FINANCIAL TIMES

[I]  EU and US carmakers warn over China parts shortage

[I]  Tech companies face German competition clampdown

[I]  Trump to tout blue-collar boom in State of the Union

[I]  EU opens way for members to halt enlargement talks

[I]  India’s latest budget looks short on business treats

[I]  Interdependence is a double-edged sword for the US and China

 

REUTERS

[I]  India may issue $5 billion of bonds next year with no foreign investment cap

[I]  China virus toll nears 500, airlines cut Hong Kong flights, cases found on cruise ship

[I]  Singapore central bank says policy stance unchanged as virus hits economy

[I]  BOJ signals readiness to ease as virus impact clouds outlook

[I]  Venezuela's inflation tumbles to 9,586% in 2019 - central bank

[I]  British boardrooms doing too little to end 'all-white domains', study finds

[I]  RBI seen holding rates, retaining dovish stance

[I]  India's Jan gold imports plunge 48% to four-month low on record prices

 

BLOOMBERG 

[I]  Deaths Near 500; Cases Spread in Japan, Singapore: Virus Update

[I]  Dividend Yields in India May Climb on Tax Proposal, CLSA Says

[I]  Weak Growth Drags Credit Health of India Firms to 8-Year Low

[I]  Coronavirus Is Complicating Thailand’s Central Bank Rate Decision

 

WALL STREET JOURNAL

[I]  Coronavirus Crisis Could Delay U.S. Boost From Deal With China, Kudlow Says

[I]  New Rule Lets U.S. Companies Fight Currency Manipulation

[I]  Goldman Executive Exits After Barred From Banking Over 1MDB Scandal

[I]  Global Factory Revival in Doubt as Coronavirus Spreads

[I]  Trump Administration Denying More Tariff-Exemption Requests

[I]  Hong Kong Suffers First Annual Recession in a Decade

 

BUSINESS LINE

[I]  7,591 MW RE capacity in Apr-Dec

[I]  DRI, Commerce Dept to check FTA misuse, protect genuine players

[I]  Recruiters indicate positive hiring outlook for H1 2020: Survey

[I]  India keen to keep future FTAs with RCEP nations less ambitious

[I]  Operation Greens: Six additional proposals under consideration, says Ministry of Food Processing

 

ECONOMIC TIMES

[I]  Taxing allowances: EC may ask govt to reconsider

[I]  NBFC quits infrastructure, blaming ‘socialist’ India

[I]  Commerce ministry preparing district export plan to boost shipments

[I]  Nominal GDP growth projections ambitious given structural challenges: Moody's

[I]  TDS on MF dividends at 10%, clarifies government

[I]  Government ready with e-bidding platform for disinvestment

 

BUSINESS STANDARD

[I]  Ball is now in your court: FM Sitharaman exhorts India Inc to invest more

[I]  70 models to be unveiled as tech takes centre stage at Auto Expo 2020

[I]  From auto to insurance, brands track the men on the FM radio trail

[I]  Stress in wholesale book of NBFCs to rise further, says CRISIL report

[I]  New taxation rules to hit dividends received from foreign subsidiaries

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11961;  USDINR DGCX: 71.3575;  DJIA Mini: 28749;  FTSE 100 Fut: 7353;  NIKKEI 225 Fut: 23357;  EUR-USD: 1.1034; Crude Oil (WTI): 50.17;  Gold (Spot): 1557

 

Best Regards, ARBIND
05 Feb 2020