India’s March electricity usage falls 9.2% as lockdown bites
By Ritu, Capital Sands India’s electricity use fell 9.2% in March, provisional government data showed on Wednesday, as consumption dropped for the first time in three months due to a nationwide lockdown to prevent the spread of the coronavirus. Consumers used 100.2 billion kilowatt hours (kWh) in March, compared with 110.33 billion units a year […]
Gold dips 1% as dollar rises, but heads for quarterly gain
By Ritu, Capital Sands Gold prices dropped 1% on Tuesday as the dollar strengthened and strong Chinese economic data boosted risk appetite, but bullion was on track for a sixth consecutive quarterly rise amid fears over a global shutdown due to the coronavirus. Spot gold was down 1% at $1,605.64 per ounce by 0930 GMT. […]
Pandemic to hit growth in Asia, China: World Bank
By Administrator_India Capital Sands The coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday. The bank said precise growth forecasts were difficult, given the rapidly changing situation, but its baseline now called for […]
India says no plan to extend coronavirus lockdown as poor struggle
By Administrator_India Capital Sands India has no plans to extend a 21-day lockdown to slow the spread of the coronavirus, the government said on Monday, as it struggled to keep essential supplies flowing and prevent tens of thousands of out-of-work people fleeing to the countryside. Prime Minister Narendra Modi ordered the country’s 1.3 billion people […]
Major airlines urge U.S. Treasury to disburse assistance quickly
By Administrator_India Capital Sands Major U.S. airlines asked the U.S. Treasury to move quickly to release up to $58 billion in government grants and loans and recommended formula to divide up the money. In a letter dated Saturday, carriers wrote that “given the urgent and immediate need, it is essential that these funds be disbursed […]
Ferrari extends Italian plant closures to April 14 subject to supplies
By Administrator_India Capital Sands Luxury carmaker Ferrari said on Friday it would extend the shutdown of its two Italian plants and reopen on April 14, provided it had supplies, and update 2020 forecasts in May when it releases its first-quarter earnings. Ferrari this month closed factories in Maranello and Modena, in the northern Italian region […]
G20 leaders to inject $5 trillion into global economy in fight against coronavirus
By Administrator_India Capital Sands Leaders of the Group of 20 major economies pledged on Thursday to inject over $5 trillion (£4.1 trillion) into the global economy to limit job and income losses from the coronavirus and “do whatever it takes to overcome the pandemic.” Showing more unity than at any time since the G20 was […]
World stocks slip as U.S. jobs angst outweighs record stimulus
By Administrator_India Capital Sands World share markets fell on Thursday as nerves over jobs data likely to lay bare the economic carnage from the coronavirus pandemic outweighed a $2 trillion U.S. stimulus package. The U.S. Senate on Wednesday backed the massive bill aimed at helping jobless workers and industries reeling from the virus, with the […]
UK inflation falls from six-month high
By Administrator_India Capital Sands British inflation fell in February, before the coronavirus crisis hit the country, and economists predict a further sharp fall in the next couple of months due to the collapse in global oil prices caused by the pandemic. Consumer price inflation fell to 1.7% in February from a six-month high of 1.8% […]
Asian shares track Wall Street surge as US stimulus hopes grow
By Administrator_India Capital Sands Asian shares extended their rally on Wednesday in the wake of Wall Street’s big gains as US Congress appeared closer to passing a $2 trillion stimulus package to curb the coronavirus pandemic’s economic toll. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.3% with Australian shares rising 4.5% and South […]