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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 […]
Australia to force Google, Facebook to pay domestic media to use content
By Administrator_India Capital Sands Australia will force Facebook Inc and Alphabet Inc’s Google to share advertising revenue with local media firms, the country’s treasurer said on Monday, becoming one of the first countries to require digital platforms to pay for content they use. Treasurer Josh Frydenberg said the move comes after talks with Facebook and […]
Gold Continues Retreat Despite Decreased Risk Sentiment
By Administrator_India Capital Sands Gold was down on Monday in Asia despite the souring of the increased risk sentiment from Friday’s slew of good news over the weekend. Gold retreated almost 2% in the previous session as U.S. President Donald Trump announced guidelines to re-open his country’s economy on Thursday and Gilead Sciences’ report on the same day of the efficacy of its experimental […]
Indian gold demand could hit three-decade low as lockdown hits festivals, weddings
By Administrator_India Capital Sands India’s gold consumption in 2020 could fall as much as 50% from a year ago to the lowest level in nearly three decades as a nationwide lockdown has closed jewelry stores during key festivals and the wedding season. The drop in consumption by the world’s second-biggest gold buyer could limit a […]
Europe Gains as States Look to Reopen Their Economies
By Administrator_India Capital Sands European stock markets were mostly higher Thursday, helped by a number of countries in the region moving towards reopening their economies on growing signs that the peak of the coronavirus outbreak may have passed. At 4:15 AM ET (0815 GMT), the U.K.’s FTSE index traded flat, France’s CAC 40 was up 1.2%, while the DAX rose 1.3%. […]