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OPEC looks to cut production as virus outbreak hits demand
By Ritu, Capital Sands The oil-producing countries of the OPEC cartel are considering slashing output to contain a plunge in prices that has been worsened by concerns about the virus outbreak’s disruption to the world economy. Oil ministers from the group’s 14 countries were gathering in Vienna on March 5 as energy producers were taking a […]
India’s coronavirus cases nears 30, hits major payments firm Paytm
By Administrator_India Capital Sands The total number of known coronavirus cases in India rose sharply to 29 on Wednesday, including 16 Italian tourists who had tested positive for the disease as well as an employee of a digital payments company who had travelled to Italy. On Monday, the world’s second-most populous country had only six […]
Nifty, Sensex end lower as virus cases jump to 28
By Administrator_India, Capital Sands Indian shares closed lower on Wednesday after the country’s health minister confirmed the number of coronavirus cases had risen sharply to 28, fuelling worries that economic activity may be affected further. More than 93,000 cases have been reported worldwide, and several thousand have died from the flu-like coronavirus, which emerged in […]
WHO warns of global shortage of medical equipment to fight coronavirus
By Administrator_India Capital Sands The World Health Organization (WHO) on Tuesday warned of a global shortage and price gouging for protective equipment to fight the fast-spreading coronavirus and asked companies and governments to increase production by 40% as the death toll from the respiratory illness mounted. Meanwhile, the U.S. Federal Reserve cut interest rates on […]
OPEC ministers gather in Vienna as coronavirus hits demand
By Ritu, Capital Sands OPEC ministers are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the new coronavirus. The Organization of the Petroleum Exporting Countries and allies led by Russia agreed in December a collective cut of […]
Stocks – Wall Street Surges at the Close as Financials, Tech Jump
By Administrator_India Capital Sands Stocks made a bullish start to the week Monday, shrugging off an uptick in coronavirus deaths in the U.S. amid a surge in tech and financials. The S&P 500 rose 4.6%, the Nasdaq Composite surged 4.5% and Dow Jones Industrial Average rose 1,294 points, or 5.1%. The Dow notched its biggest daily point gain ever, as did […]
Indonesia confirms first cases of coronavirus, link to Japanese visitor
By Ritu, Capital Sands Two Indonesians have tested positive for coronavirus after coming into contact with an infected Japanese national, President Joko Widodo said on Monday, marking the first confirmed cases in the world’s fourth-most populous country. The discovery comes after some medical experts had raised concerns about a lack of vigilance and a risk […]
Yen, Euro gain on dollar as markets bet Fed will cut rates this month
By Administrator_India Capital Sands The yen and the euro were on the front foot against the dollar on Monday as traders raised their bets of an interest rate cut by the U.S. Federal Reserve this month to shield the economy from the rapid spread of the coronavirus. As U.S. shares were routed in recent days, […]