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OPEC ministers gather in Vienna as coronavirus hits demand
By Ritu, Capital Sands OPEC ministers are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the new coronavirus. The Organization of the Petroleum Exporting Countries and allies led by Russia agreed in December a collective cut of […]
Stocks – Wall Street Surges at the Close as Financials, Tech Jump
By Administrator_India Capital Sands Stocks made a bullish start to the week Monday, shrugging off an uptick in coronavirus deaths in the U.S. amid a surge in tech and financials. The S&P 500 rose 4.6%, the Nasdaq Composite surged 4.5% and Dow Jones Industrial Average rose 1,294 points, or 5.1%. The Dow notched its biggest daily point gain ever, as did […]
Indonesia confirms first cases of coronavirus, link to Japanese visitor
By Ritu, Capital Sands Two Indonesians have tested positive for coronavirus after coming into contact with an infected Japanese national, President Joko Widodo said on Monday, marking the first confirmed cases in the world’s fourth-most populous country. The discovery comes after some medical experts had raised concerns about a lack of vigilance and a risk […]
Yen, Euro gain on dollar as markets bet Fed will cut rates this month
By Administrator_India Capital Sands The yen and the euro were on the front foot against the dollar on Monday as traders raised their bets of an interest rate cut by the U.S. Federal Reserve this month to shield the economy from the rapid spread of the coronavirus. As U.S. shares were routed in recent days, […]
China Makes Bad Loans Disappear as Virus Pummels Banks
By Ritu, Capital Sands Chinese banks are taking extraordinary measures to avoid recognizing bad loans, seeking to shield themselves and cash-strapped borrowers from the economic fallout of the coronavirus outbreak. Some of the measures, which include rolling over loans to companies at risk of missing payment deadlines and relaxing guidelines on how to categorize overdue […]
Dollar stumbles as coronavirus ramps up Fed cut bets
By Administrator_India Capital Sands The dollar nursed losses on Friday after its worst day against the euro in nearly two years, as the global spread of the coronavirus fired up expectations for a U.S. rate cut and pushed the hunt for yield elsewhere. The worsening outbreak now has money markets all but certain the Federal […]
U.K. May See Investment Surge on Brexit, Budget, Economist Says
By Ritu Capital Sands There’s a good chance that U.K. companies will unleash spending this year with a double boost from an expansionary budget and more clarity over Brexit, according to Bank of England Chief Economist Andy Haldane. Investment has been stuck in the doldrums since the 2016 referendum, curbing growth and constraining the U.K.’s […]
South Korea reports 334 new coronavirus cases, postpones military drill with U.S. troops
By Administrator_India Capital Sands South Korea reported 334 additional cases of the new coronavirus on Thursday, the largest daily increase yet, as the U.S. State Department issued a new travel warning for South Korea and a joint military drill was postponed. The new cases bring the total tally to 1,595, the Korea Centers for Disease […]