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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 […]
UK PM Johnson leaves intensive care, remains under observation
By Administrator_India Capital Sands Prime Minister Boris Johnson left intensive care on Thursday evening as he continues to recover from COVID-19, but he remains under close observation in hospital, his office said on Thursday. Johnson, 55, was admitted to St Thomas’ Hospital on Sunday evening with a persistent high temperature […]
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 […]
Asian stocks gain on hopes pandemic is approaching peak
By Administrator_India Capital Sands Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6%, following […]
WhatsApp limits message forwarding to slow spread of coronavirus misinformation
By Ritu, Capital Sands Facebook Inc’s WhatsApp tightened message forwarding limits on Tuesday, restricting users to sharing forwarded content one chat at a time after a jump in messages touting bogus medical advice since the start of the coronavirus crisis. The pandemic, which has killed more than 70,000 people worldwide, […]
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 […]
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 […]
Sterling to regain some lost ground but forecasts slashed
By Administrator_India Capital Sands Britain’s pound will have regained some of its lost ground against the dollar in a year but forecast was slashed from a month ago as the coronavirus pandemic continues to wreak havoc globally. Sterling has been hammered in recent weeks as fears about the economic impact […]
India’s March factory activity growth at four-month low amid coronavirus spread
By Ritu, Capital Sands India’s manufacturing activity expanded at its slowest pace in four months in March and is likely to get worse as demand and output take a hit from the coronavirus outbreak, putting a severe dent in business optimism, a private survey found. A 21-day nationwide lockdown, which […]