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U.K. Retail Sales Post Biggest Drop on Record Amid Lockdown
By Administrator_India Capital Sands U.K. retail sales fell the most since records began as restrictions to control the coronavirus forced all but essential stories to close. Sales including auto fuel declined a record 5.1% in March from February, the biggest drop since at least 1996, the Office for National Statistics said Friday. Sales excluding fuel dropped 3.7%. […]
Chinese investors flummoxed by India’s new foreign investment rules
By Administrator_India Capital Sands India’s plan to screen foreign direct investments from neighbouring countries has Chinese firms concerned that such scrutiny will affect their projects and delay deals in one of Asia’s most lucrative investment markets. The tougher rules were not a surprise, as other countries are also on guard against fire sales of corporate […]
India stocks higher at close of trade; Nifty 50 up 1.38%
By Administrator_India Capital Sands India stocks were higher after the close on Thursday, as gains in the IT, Technology and Banking sectors led shares higher. At the close in NSE, the Nifty 50 added 1.38% to hit a new 1-month high, while the BSE Sensex 30 index climbed 1.54%. The best performers of the session on the Nifty 50 were Kotak Mahindra Bank Ltd. , […]
South Korea posts biggest GDP fall since 2008 as pandemic cripples demand
By Administrator_India Capital Sands The coronavirus pandemic pushed South Korea’s economy into its biggest contraction since 2008 in the first quarter, as self-isolation measures hit consumption and global trade slumped. Finance minister Hong Nam-ki said in a policy meeting Asia’s fourth-largest economy should brace for a bigger shock from the second quarter as demand […]
Softbank-backed OYO to cut pay of all employees in India
By Ritu, Capital Sands Softbank Group-backed OYO Hotels and Homes has cut the salaries of all employees by 25% for four months starting April and also sent some of its people on leave with limited benefits, according to an internal memo seen by Reuters. The move comes soon after OYO furloughed thousands of its […]
Australian retail sales surge in March, might avert first-quarter GDP contraction
By Administrator_India Capital Sands Australian retail sales surged by the most on record in March as a lockdown for the coronavirus spurred panic buying of food and other staples, perhaps saving the entire economy from a damaging contraction in the first quarter. Sales will likely plunge back in April due to strict social distancing rules […]
South Korea, China cast doubt on reports North Korean leader Kim gravely ill
By Administrator_India Capital Sands South Korean and Chinese officials on Tuesday cast doubt on reports North Korean leader Kim Jong Un was ill after media outlets said he had undergone a cardiovascular procedure and was in “grave danger”. Daily NK, a Seoul-based speciality website, reported late on Monday, citing one unnamed source in North Korea, […]
India foreign investment rules aimed at China to include Hong Kong
By Administrator_India Capital Sands New Indian rules to ensure scrutiny of investments from companies based in neighboring countries, especially during the coronavirus outbreak, will also apply to Hong Kong, two senior government sources told Reuters on Monday. India said on Saturday that foreign direct investments from countries with which it shares a land border would […]