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 […]
Australia declares emergency, warns coronavirus crisis could last six months
By Ritu, Capital Sands Australian Prime Minister Scott Morrison on Wednesday declared a “human biosecurity emergency” and said the country’s citizens should abandon all overseas travel because of the coronavirus epidemic that he warned could last at least six months. The formal declaration gives the government the power to close off cities or regions, impose […]
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 […]
Pakistan postpones T20 league after player shows coronavirus symptoms
By Ritu, Capital Sands The Pakistan Super League (PSL) has been postponed with immediate effect after an overseas player showed symptoms of coronavirus, the country’s cricket board said on Tuesday. The postponement was announced hours before the semi-final matches were due to start in Lahore. “This decision was taken after a player, who had left […]
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 […]
European shares slump to 2012 lows
By Ritu, Capital Sands European shares tumbled more than 8% on Monday as the coronavirus pandemic raged through much of Europe, with dramatic monetary easing by global central banks failing to reassure investors about its growing economic damage. The pan-European STOXX 600 fell 8.2% to its lowest since November 2012, with bourses in France and […]
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 […]
Oil rises over 3% but set for biggest weekly thumping since 2008
By Ritu, Capital Sands Oil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite rising over 3% on Friday, as investors fretted over evaporating demand from the coronavirus pandemic and a production ramp-up by top producers. Brent crude was up $1.12, or 3.4%, at $34.33 a barrel by 0728 GMT […]
India’s retail inflation moderates, paves way for RBI action
By Administrator_India Capital Sands India’s retail inflation eased to a two-month low in February, helped by a smaller increase in food prices, paving the way for a potential interest rate cut by the central bank amid concerns of economic activity losing steam due to the coronavirus. Inflation rose to 6.58%, but remained above the Reserve […]
Argentina needs ‘substantial’ relief in $70 billion debt talks
By Ritu, Capital Sands Argentina will need “substantial relief” as it restructures nearly $70 billion in debt with international bondholders, the country’s economy minister Martin Guzman told , signaling a tough tonic ahead for the country’s creditors. In his first interview with international media since taking up his role in December, the 37-year-old U.S. trained […]