SBI notice to BPSL ex-promoter Sanjay Singal to recover over Rs 12,000 cr
By Administrator_India Capital Sands The State Bank of India has invoked the personal guarantees of Sanjay Singal, former promoter of Bhushan Power & Steel Ltd, and has sent him a demand notice for recovery of Rs 12,275.91 crore. The development comes at a time when the resolution process of the bankrupt company hangs in fire […]
US budget deficit debt to hit $3.3 trillion, bigger than its economy’s size
By Administrator_India Capital Sands The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said. The spike in the deficit means that federal debt will exceed annual gross domestic […]
India jumps 4 places on Global Innovation Index to enter top 50 league
By Administrator_India Capital Sands India has moved four places on the Global Innovation Index 2020 to rank at 48 since 2019. This makes it the third-most innovative lower middle-income economy in the world, according to the report. India at the 48th place also retains the highest rank in the central and southern Asia region. The […]
Employment-creating sectors bear brunt of slowdown : Q1 GDP data
By Administrator_India Capital Sands The April-June quarter GDP data, released on Monday, showed the deepest damage in the employment-creating sectors, like construction and manufacturing. This comes at a time the Centre and the Finance Ministry are talking about green shoots in the economy. According to the data released by the National Statistical Office, the construction […]
Dollar Inches Down, Yen Edges Up as PM Contest Takes Shape
By Administrator_India Capital Sands The dollar inched down on Monday morning in Asia, giving up some earlier gains, with investors still digesting U.S. Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole symposium the previous Thursday. Powell’s speech unveiled the Fed’s new approach to inflation, which has been interpreted to mean low rates […]
Slow pace of pay growth adds to hurdles in way of India’s economic recovery
By Administrator_India Capital Sands Joblessness may be easing in India as the economy gradually reopens from the world’s biggest lockdown, but wage growth remains subdued — dashing hopes of a recovery in the consumption-driven economy. Wage bills of companies increased by just 2.9 per cent in the three months to June from a year […]
Oil Holds Weekly Gain as Gloomy Economic Signals Damp Rebound
By Administrator_India Capital Sands Oil clung onto its third week of gains, despite a retreat since mid-week on gloomy economic signals in the U.S. and a cautious tone from the Federal Reserve and OPEC+ producers. Futures in New York were little changed, after falling 0.7% on Thursday. Applications for U.S. unemployment benefits unexpectedly increased […]
Dollar under pressure as economic uncertainties linger
By Administrator_India Capital Sands The dollar struggled to recoup heavy overnight losses on Wednesday after it slipped to 27-month low the previous session as uncertainties about an economic recovery and the U.S. fiscal stimulus package weighed. The dollar hit fresh lows against most major currencies overnight as the ongoing effects of the Federal Reserve’s […]
Indian embassy in Moscow in touch with developer of Russia’s COVID-19 vaccine Sputnik V
By Administrator_India Capital Sands Days after Russia introduced a COVID-19 vaccine, the Indian embassy in Moscow is reportedly in contact with the medical research institute that has developed Sputnik V vaccine. Sputnik V has been developed by the Gamaleya Research Institute of Epidemiology and Microbiology along with the Russian Direct Investment Fund. According an Indian […]
Gold Price Crashes as Dollar Pulls Up from Record Lows
By Administrator_India Capital Sands Gold fell sharply on Wednesday morning in Asia, continuing losses from the previous sessions in North America and Europe. Gold futures slid 2.52% to $1,897.20. The pullback was not altogether unexpected, with analysts expecting a correction after the per-ounce price of the yellow metal topped $2,000 dollars. The turnaround came […]