Global oil output cuts held hostage to Mexican standoff
By Ritu, Capital Sands Oil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts. The United States has […]
RBI says coronavirus has ‘drastically altered’ India’s growth outlook
By Ritu, Capital Sands The outlook for India’s economic recovery has been sharply altered by the coronavirus outbreak, the central bank said in its Monetary Policy Report, underlining the pandemic’s deepening impact on South Asia’s engine of growth. “Prior to the outbreak of COVID-19, the outlook for growth for 2020-21 was looking up,” the Reserve […]
UK construction activity falls in March at fastest rate since 2009
By Ritu, Capital Sands Britain’s construction sector saw the sharpest fall in activity since the financial crisis last month, a survey showed on Monday, despite facing much less pressure than other industries to shut down operations due to the coronavirus. The figures from financial data provider IHS Markit and the Chartered Institute of Procurement and […]
Airline industry braces for lengthy recovery from coronavirus crisis
By Ritu, Capital Sands International seat capacity has dropped by almost 80% from a year ago and half the world’s airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic. Carriers including United Airlines Holdings Inc and Air New Zealand Ltd have warned they are […]
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