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Indian bonds rally on new foreign investment category
By Ritu, Capital Sands Indian bonds rallied on Tuesday after the Reserve Bank of India (RBI) announced a new category for foreign investors, while hopes of a reduction in April’s borrowing or cancellation ahead of the first-half borrowing plan aided sentiment. The RBI said on Monday it was introducing a new category called the “fully […]
Pandemic to hit growth in Asia, China: World Bank
By Administrator_India Capital Sands The coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday. The bank said precise growth forecasts were difficult, given the rapidly changing situation, but its baseline now called for […]
India says no plan to extend coronavirus lockdown as poor struggle
By Administrator_India Capital Sands India has no plans to extend a 21-day lockdown to slow the spread of the coronavirus, the government said on Monday, as it struggled to keep essential supplies flowing and prevent tens of thousands of out-of-work people fleeing to the countryside. Prime Minister Narendra Modi ordered the country’s 1.3 billion people […]
Major airlines urge U.S. Treasury to disburse assistance quickly
By Administrator_India Capital Sands Major U.S. airlines asked the U.S. Treasury to move quickly to release up to $58 billion in government grants and loans and recommended formula to divide up the money. In a letter dated Saturday, carriers wrote that “given the urgent and immediate need, it is essential that these funds be disbursed […]
Ferrari extends Italian plant closures to April 14 subject to supplies
By Administrator_India Capital Sands Luxury carmaker Ferrari said on Friday it would extend the shutdown of its two Italian plants and reopen on April 14, provided it had supplies, and update 2020 forecasts in May when it releases its first-quarter earnings. Ferrari this month closed factories in Maranello and Modena, in the northern Italian region […]
G20 leaders to inject $5 trillion into global economy in fight against coronavirus
By Administrator_India Capital Sands Leaders of the Group of 20 major economies pledged on Thursday to inject over $5 trillion (£4.1 trillion) into the global economy to limit job and income losses from the coronavirus and “do whatever it takes to overcome the pandemic.” Showing more unity than at any time since the G20 was […]
World stocks slip as U.S. jobs angst outweighs record stimulus
By Administrator_India Capital Sands World share markets fell on Thursday as nerves over jobs data likely to lay bare the economic carnage from the coronavirus pandemic outweighed a $2 trillion U.S. stimulus package. The U.S. Senate on Wednesday backed the massive bill aimed at helping jobless workers and industries reeling from the virus, with the […]
PBOC Acts to Stabilize Yuan After Currency Under-performs Peers
By Administrator_India Capital Sands China set its daily reference rate for the yuan at a stronger-than-expected level Thursday, with the central bank perhaps signaling efforts to support the currency following recent weakness. The PBOC put the fixing at 7.0692 yuan per dollar, 105 basis points stronger than the average forecast of analysts surveyed by Source. […]