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Dollar stands its ground as U.S.-China tensions grow
By Administrator_India Capital Sands The dollar held its own on Thursday as rising Sino-U.S. tension put crushing pressure on the Chinese yuan and proved a counterweight to optimism about the coronavirus recovery. The escalating war of words between the world’s two biggest economies also spilled over to the Australian and New Zealand dollars, as a far more […]
India suspends 39 import licenses for refined palm oil
By Ritu, Capital Sands India has suspended 39 licences to import 452,303 tonnes of refined palm oil after a surge in duty-free purchases from neighbors such as Nepal and Bangladesh which are not key producers, government and trade sources. The suspension could reduce India’s palm oil imports in the next few months and pressure Malaysian […]
Indian start-ups get creative as coronavirus crisis fuels funding crunch
By Ritu, Capital Sands Samik Sarkar was managing to eke a profit out of his online apparel store before the coronavirus crisis hit India, forcing the 36-year old to reinvent his business overnight. The rapid global economic slowdown, India’s coronavirus lockdown of 1.3 billion people and an exodus of venture capital are testing a start-up […]
India’s fuel demand growth could return to normal by mid-May
By Ritu, Capital Sands India’s fuel demand growth could return to normal levels by mid-May as the nation takes steps to end a lockdown aimed at stemming the spread of COVID-19, oil minister Dharmendra Pradhan said, helping refiners hit by severe inventory losses. Fuel demand growth in India, the world’s third-biggest oil importer and consumer, […]
India to send nearly 1,000 tonnes of paracetamol raw material to Europe
By Ritu, Capital Sands India will supply Europe with about 1,000 tonnes of the active pharmaceutical ingredient for common pain reliever paracetamol, a top exports body said, easing export controls on over-the counter medicines used to cope with COVID-19 symptoms. The Indian government in March put a hold on exports of several drugs including paracetamol […]
Britain outpaces Italy with Europe’s highest official coronavirus death toll
By Ritu, Capital Sands Britain has overtaken Italy to report the highest official death toll from coronavirus in Europe with more than 32,000 deaths, figures released on Tuesday showed. The high death toll could increase political pressure on Prime Minister Boris Johnson, who waited longer than other European leaders to order a lockdown to curb […]
Australian PM says no evidence coronavirus originated in China laboratory, urges inquiry
By Ritu, Capital Sands Australian Prime Minister Scott Morrison, who has angered Beijing by calling for a global inquiry into the coronavirus outbreak, said he had no evidence to suggest the disease originated in a laboratory in the Chinese city of Wuhan. U.S. President Donald Trump said on Thursday he was confident the coronavirus may […]
India’s scrap gold supplies seen at record high on price rally, coronavirus
By Ritu, Capital Sands Scrap gold supplies in India are likely to hit an all-time high in 2020 as consumers sell jewellery to reap record high prices and cope with the financial crunch from the coronavirus lockdown, the World Gold Council said on Thursday. Rising scrap supplies amid a fall in demand could dent the […]
Indian shares hit six-week high, HDFC surge lifts banks
By Ritu, Capital Sands Indian shares rose more than 1% on Wednesday to their highest in over six weeks, tracking an improved global mood due to the easing of some coronavirus lockdowns, while a surge in HDFC pulled financial stocks higher. While India’s own stringent restrictions remain largely in place, signs of easing in Europe […]