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World leaders rush in to shore up panic-hit global financial system
By Ritu, Capital Sands World leaders raced to shore up panic-stricken global markets on Thursday, pouring liquidity into the financial system as investors everywhere dumped assets, switching to dollars in cash amid the escalating coronavirus pandemic. Policymakers in the United States, Europe and Asia resorted to emergency action as the pandemic left their economies virtually […]
India mulls up to $1.6 billion rescue plan for aviation sector after coronavirus
By Administrator_India Capital Sands India is planning a rescue package worth as much as $1.6 billion for the aviation sector, which has been battered after the coronavirus outbreak forced countries to close borders and brought air travel to a near-halt. The Finance Ministry is considering a proposal that includes temporary suspension of most taxes levied […]
Euro Under Pressure as Sovereign Spreads Balloon
By Ritu, Capital Sands The euro is under pressure Wednesday, as bond markets remind euro zone countries of the costs of the measures needed to combat the coronavirus outbreak. EUR/USD traded at 1.0971, down 0.2%, after falling as low as 1.0953 overnight. Europe has become the chief battleground against the virus, with deaths continuing to soar […]
India halts key policy plans as revenues shrink: sources
By Administrator_India Capital Sands India has dropped at least three crucial policy initiatives, including lowering import taxes on vegetable oils, as the outbreak of the coronavirus hits government revenue collection. India’s income tax revenues contracted 3.5% in the first 11 months of the current fiscal year, which began in April 2019, and income from other […]
Taiwan central bank seen cutting rates as pandemic hits growth: Reuters poll
By Administrator_India Capital Sands Taiwan’s central bank is expected to cut its policy rate for the first time since 2016 as the coronavirus threatens the island’s export-reliant economy, which is a key part of global technology supply chain. The cut would follow a rush by global central banks to loosen settings as policymakers scramble to […]
Coronavirus hits ‘heart and soul’ as New York
By Ritu, Capital Sands Bars, restaurants, theatres and movie houses in New York and Los Angeles were ordered to shut down to combat the spread of the coronavirus pandemic as central banks around the world took aggressive steps to cushion the economic impact of the disease. The U.S. Federal Reserve slashed interest rates, for the […]
India proposes regional fund to fight coronavirus as cases exceed 100
By Administrator_India Capital Sands India proposed setting up an emergency fund to fight the coronavirus outbreak in South Asia on Sunday, with New Delhi offering $10 million to get it going, as the number of confirmed infections in the country rose past 100. “Any of us can use the fund to meet the cost of […]
India ready to take steps to calm markets over coronavirus
By Ritu, Capital Sands The Indian government and financial regulators will take necessary steps to calm markets gripped by fears over coronavirus, the government’s chief economic adviser Krishnamurthy Subramanian said on Friday. “Government and regulator will be responding when it will be necessary,” Subramanian told reporters in response to a question if the government planned […]