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“Some of us will die”: India’s homeless stranded by coronavirus lockdown
By Administrator_India Capital Sands In a densely packed neighborhood of Delhi, hundreds of homeless people queued up this week as volunteers doled out rice and peas from a vat in the back of a van. Only a handful of the people in the crowd wore masks. There were no hand sanitizers or washbasins in sight […]
India’s top carmaker Maruti Suzuki reports 16% sales fall
By Ritu, Capital Sands Sales at India’s biggest carmaker Maruti Suzuki India, which sells one in every two cars in the country, fell 16% in the last fiscal year, hit by a slowing economy and lean demand as well as the coronavirus outbreak. Maruti, majority owned by Japan’s Suzuki Motor Corp, sold 1.56 million vehicles […]
Australia opens pop-up coronavirus test clinic at Bondi Beach
By Administrator_India Capital Sands Australian authorities opened a pop-up coronavirus testing clinic at Sydney’s Bondi Beach on Wednesday, as the country’s central bank warned the economic fallout from the pandemic could last for more than a year. Authorities were zeroing in on specific areas that have reported clusters of infections, following a sustained slow down […]
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 […]