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Italy March industry output plunges 28% month-on-month on coronavirus lockdown
By Ritu, Capital Sands Italian industrial output plummeted 28.4% in March from the previous month, more than expected and the steepest drop on record, as a lockdown imposed to contain the coronavirus pandemic shuttered most businesses. The fall in output was larger than any of the 18 forecasts in a Reuters survey of analysts which […]
Dollar Down After Investors Welcome Loosened Lockdown Plans
By Administrator_India Capital Sands The dollar was down on Monday morning in Asia, giving up some of its gains from earlier in the session. The gains came after some countries’ plans to lift lockdowns curbing the spread of the COVID-19 pandemic boosted investor sentiment. California, Michigan, and Ohio, three of the important states for U.S. manufacturing, took steps to […]
India may see 0% GDP growth this fiscal year
By Ritu, Capital Sands The impact of the coronavirus outbreak will exacerbate the material slowdown in India’s economic growth, with the country expected to see 0% expansion in the current fiscal year, analysts at Moody’s said on Friday. The ratings agency said it expected India to see no growth in financial year 2021 and bounce […]
Abe, Trump agree to cooperate on steps to fight coronavirus
By Administrator_India Capital Sands Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump on Friday agreed to cooperate closely on measures to prevent the spread of coronavirus, including the development of drugs and vaccines, Japan’s top government spokesman said. Abe and Trump held talks by phone for about 45 minutes from around 10:00 […]
Dollar Up in The Aftermath of Bad Economic News
By Administrator_India Capital Sands The dollar was up on Thursday morning in Asia with investor risk appetite soured by an onslaught of bad economic news. The US Dollar Index that tracks the greenback against a basket of other currencies gained 0.05% to 100.185, as investors looked to the dollar as a safe haven. The U.S. said overnight that private employers laid […]
India’s services activity collapses as coronavirus paralyses global economy
By Ritu, Capital Sands India’s services activity suffered a shock collapse in April as the coronavirus lockdown crippled global demand, causing a historic spike in layoffs and reinforcing fears of a deep recession in Asia’s third-largest economy, a private survey showed. The grim result for the industry, the engine of economic growth and jobs, underlined […]
New Zealand first-quarter jobless rate inches up but coronavirus shock to be reflected in next quarter
By Administrator_India Capital Sands New Zealand’s jobless rate rose to 4.2% in the first quarter ahead of a strict lockdown that was enforced to limit the spread of the novel coronavirus, according to data released by Statistics New Zealand on Wednesday. The headline figure was only slightly higher than a 4.0% jobless rate in […]
Delhi imposes 70% ‘corona tax’ on alcohol to deter large crowds
By Ritu, Capital Sands Officials in India’s capital imposed a special tax of 70% on retail liquor purchases from Tuesday, to deter large gatherings at stores as authorities ease a six-week lockdown imposed to slow the spread of the coronavirus. Taxes on alcohol are a key contributor to the revenue of many of India’s 36 […]