By Ritu, Capital Sands India has suspended 39 licences to import 452,303 tonnes of refined palm oil after a surge in duty-free purchases from neighbors such as Nepal and Bangladesh which are not key producers, government and trade sources. The suspension could reduce India’s palm oil imports in the next […]
Ritu
Indian start-ups get creative as coronavirus crisis fuels funding crunch
By Ritu, Capital Sands Samik Sarkar was managing to eke a profit out of his online apparel store before the coronavirus crisis hit India, forcing the 36-year old to reinvent his business overnight. The rapid global economic slowdown, India’s coronavirus lockdown of 1.3 billion people and an exodus of venture […]
India’s fuel demand growth could return to normal by mid-May
By Ritu, Capital Sands India’s fuel demand growth could return to normal levels by mid-May as the nation takes steps to end a lockdown aimed at stemming the spread of COVID-19, oil minister Dharmendra Pradhan said, helping refiners hit by severe inventory losses. Fuel demand growth in India, the world’s […]
India to send nearly 1,000 tonnes of paracetamol raw material to Europe
By Ritu, Capital Sands India will supply Europe with about 1,000 tonnes of the active pharmaceutical ingredient for common pain reliever paracetamol, a top exports body said, easing export controls on over-the counter medicines used to cope with COVID-19 symptoms. The Indian government in March put a hold on exports […]
Britain outpaces Italy with Europe’s highest official coronavirus death toll
By Ritu, Capital Sands Britain has overtaken Italy to report the highest official death toll from coronavirus in Europe with more than 32,000 deaths, figures released on Tuesday showed. The high death toll could increase political pressure on Prime Minister Boris Johnson, who waited longer than other European leaders to […]
Australian PM says no evidence coronavirus originated in China laboratory, urges inquiry
By Ritu, Capital Sands Australian Prime Minister Scott Morrison, who has angered Beijing by calling for a global inquiry into the coronavirus outbreak, said he had no evidence to suggest the disease originated in a laboratory in the Chinese city of Wuhan. U.S. President Donald Trump said on Thursday he […]
India’s scrap gold supplies seen at record high on price rally, coronavirus
By Ritu, Capital Sands Scrap gold supplies in India are likely to hit an all-time high in 2020 as consumers sell jewellery to reap record high prices and cope with the financial crunch from the coronavirus lockdown, the World Gold Council said on Thursday. Rising scrap supplies amid a fall […]
Indian shares hit six-week high, HDFC surge lifts banks
By Ritu, Capital Sands Indian shares rose more than 1% on Wednesday to their highest in over six weeks, tracking an improved global mood due to the easing of some coronavirus lockdowns, while a surge in HDFC pulled financial stocks higher. While India’s own stringent restrictions remain largely in place, […]
Three Indian refiners cut Mideast oil imports in May
By Ritu, Capital Sands At least three Indian refiners have curbed oil imports from Middle East producers, including Saudi Arabia, for May because of storage constraints as local fuel demand slumped following the coronavirus outbreak, company officials said. This is the second consecutive month that Indian refiners have cut […]
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 […]