Australia court approves $10 billion Vodafone-TPG merger, overrules regulator
By Ritu, Capital Sands An Australian court approved a A$15 billion merger between a unit of Britain’s Vodafone Group and internet provider TPG Telecom on Thursday, overruling a regulator and enabling a huge rival to the country’s top telcos. A Federal Court judge said a tie-up between Vodafone’s joint venture with local telco Hutchison Telecommunications […]
India’s January retail inflation rises, industrial output shrinks
By Administrator_India Capital Sands India’s annual retail inflation accelerated to its highest level in nearly six years, while industrial output unexpectedly contracted, showing that Asia’s third-largest economy remains troubled. Annual retail inflation rose to 7.59% in January, partly driven by rising vegetable prices. December industrial output contracted 0.3%, after rising for the first time in […]
Sensex, Nifty end higher as coronavirus fears abate
By Ritu, Capital Sands Indian shares ended higher on Wednesday, as a slowdown in the number of coronavirus cases and the U.S. Federal Reserve chairman’s optimistic view on the economy whetted investor appetite for riskier assets. The broader Nifty ended up 0.77% at 12,201.20 and the benchmark Sensex ended 0.85% higher at 41,565.90. China reported […]
Oil prices rise as new virus cases slow, easing Chinese demand concerns
By Administrator_India, Capital Sands Oil prices rose for a second day on Wednesday amid preliminary signs that new coronavirus cases are slowing in China, easing concerns over the demand impact from the disease in the world’s second-largest oil consumer. Brent crude was up 73 cents, or 1.3%, at $54.75 per barrel. U.S. West Texas Intermediate […]
Oil gains 1% as short-sellers take profit; investors still wary over coronavirus
By Administrator_India Capital Sands Oil prices rose more than 1% on Tuesday as recent sharp falls have encouraged investors holding short positions to book profits, but the market remains jittery over the Wuhan virus, which has now killed more than 1,000 in China. Brent crude rose 79 cents, or nearly 1.5%, to $54.06 a barrel, […]
SEBI awaiting forensic audit reports on credit rating agencies for greater clarity
By Ritu, Capital Sands SEBI is waiting for forensic audit reports on credit rating agencies which will give a clearer picture of wrongdoings. The forensic audit or investigation report from Care, ICRA and India Rating may come out in a month’s time. “SEBI is awaiting forensic audit report on credit rating agencies which will give […]
China’s central bank injects 900 billion into market
By Administrator_India Capital Sands The People’s Bank of China (PBOC) conducted repo operations worth 900 billion yuan on Monday. The central bank injected 700 billion yuan seven-day reverse repos at an interest rate of 2.4% and pumped 200 billion yuan through 14-day reverse repos at an interest rate of 2.55%. Even so, the net liquidity addition […]
Stocks – Wall Street Hits Records as Tech Rallies, Virus Fears Ebb
By Administrator_India Capital Sands Wall Street ended at record highs Thursday as traders cheered better-than-expected earnings and cast aside signs that the spread of the coronavirus in China continues to pick up pace. The S&P 500 rose 0.33% and the Nasdaq Composite rose 0.67%. The Dow Jones Industrial Average 0.30%. All three major averages closed in record territory. The number of […]
India’s divisive protests could help Modi’s BJP in Delhi election test
By Administrator_India, Capital Sands Indian Prime Minister Narendra Modi and his party this week face their first electoral test since deadly anti-government protests erupted nearly two months ago, with the divisive turmoil likely to win them votes at polls in the capital. Modi’s Hindu-nationalist BJP won a bigger majority in a general election in May, […]
Solid U.S. data and virus optimism supports dollar
By Administrator_India Capital Sands The U.S. dollar stood tall on Thursday, supported by firm domestic data and hopes the coronavirus economic impact could be limited, even as the human toll continued to climb. Another 73 people on the Chinese mainland died on Wednesday from the outbreak, the highest daily increase so far, bringing the total […]