South Asian nations weigh tighter lockdowns as coronavirus cases hit 12,000 Best ECN broker in India Best MT5 Broker Commodity Broker Forex Analysis Forex Trading with Capital Sands 

South Asian nations weigh tighter lockdowns as coronavirus cases hit 12,000

By Ritu, Capital Sands India accounts for more than half the tally of those infected with coronavirus across south Asia, which crossed 12,000 on Friday, government data showed, despite a harsh weeks-long clampdown to control the outbreak. India’s capital of Delhi, and its financial hub of Mumbai, have emerged as hotspots and local officials are urging Prime Minister Narendra Modi to extend a 21-day nationwide lockdown beyond its expiry date of Tuesday. India’s vast shutdown of 1.3 billion people has left millions out of work and forced an exodus of…

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U.S. banks prepare to seize energy assets as shale boom goes bust

By Administrator_India Capital Sands Major U.S. lenders are preparing to become operators of oil and gas fields across the country for the first time in a generation to avoid losses on loans to energy companies that may go bankrupt. JPMorgan Chase & Co, Wells Fargo & Co, Bank of America Corp and Citigroup Inc are each in the process of setting up independent companies to own oil and gas assets. The banks are also looking to hire executives with relevant expertise to manage them. The banks did not provide comment…

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Supreme Court order for free coronavirus testing may hinder fight, say business leaders, health experts Best ECN broker in India Best MT5 Broker Commodity Broker Forex Analysis Forex Trading with Capital Sands 

Supreme Court order for free coronavirus testing may hinder fight, say business leaders, health experts

By Ritu, Capital Sands A decision by the Supreme Court of India to make testing for coronavirus free places an unfair financial burden on medical firms and could see a reduction in testing, already among the world’s lowest, said business leaders and health experts. The concern is that private medical firms, like many businesses in India are struggling financially, and could go under if they tested for free without financial assistance. Kiran Mazumdar Shaw, executive chairperson of Biocon Limited, one of India’s biggest biotech firms, said private institutions could not…

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Euro zone economy shrinks at record rate, inflation slows sharply Best ECN broker in India Best MT5 Broker Commodity Broker Forex Analysis Forex Trading with Capital Sands 

Euro zone investor morale hits all-time low on coronavirus

By Ritu, Capital Sands Investor morale in the euro zone fell to an all-time low in April and the bloc’s economy is in deep recession due to the coronavirus, which is “holding the world economy in a stranglehold”, a survey showed on Monday. Sentix’s index for the euro zone fell to -42.9 from -17.1 in March. The Reuters consensus forecast was for a fall to -30.3. The force of recession was much stronger in April than in March, said Sentix managing director Patrick Hussy. “The situation is … much worse…

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India’s March gold imports hit 6-1/2-year low on record price

By Admnisitrator_India Capital Sands   India’s gold imports plunged more than 73% year-on-year in March to their lowest in 6-1/2 years as record domestic prices and a lockdown to curb the spread of coronavirus squeezed retail demand, a government source said on Monday. The world’s second-biggest consumer of the precious metal imported 25 tonnes of gold in March, down from 93.24 tonnes a year ago, the source said, who is not authorized to speak to the media. In value terms, March imports dropped nearly 63% to $1.22 billion, he added.

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India charges Tablighi Jamaat chief with culpable homicide for coronavirus surge Best ECN broker in India Best MT5 Broker Commodity Broker Forex Analysis Forex Trading with Capital Sands 

Infection rate steepens as India searches for 9,000 exposed to Delhi cluster

By Ritu, Capital Sands India reported its biggest single day increase in coronavirus cases as officials on Thursday raced to track down some 9,000 people exposed to the country’s biggest infection cluster during a Muslim missionary group’s gathering in the capital last month. Prime Minister Narendra Modi has placed the world’s second most populous nation under a three-week lockdown until mid-April, and so far the number of coronavirus cases lags hard hit countries like the United States, Italy and Spain. As of Wednesday 50 people had died, but there are…

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Dollar supported as investors seek safety in liquidity

By Administrator_India Capital Sands The dollar held gains on Thursday as investors rushed to the security of the world’s most liquid currency as the coronavirus pandemic caused massive disruptions to global trade. The dollar index against a basket of major six currencies gained 0.53% overnight as the U.S. currency advanced against most of its major peers except for the safe-haven yen. In early Thursday trade, the euro was little changed at $1.0959 after 0.69% fall on Wednesday. Sterling fetched $1.2382, having lost 0.40% on Wednesday. The Australian dollar changed hands at…

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India's top carmaker Maruti Suzuki reports 16% sales fall Best ECN broker in India Best MT5 Broker Commodity Broker Forex Analysis Forex Trading with Capital Sands 

India’s top carmaker Maruti Suzuki reports 16% sales fall

By Ritu, Capital Sands Sales at India’s biggest carmaker Maruti Suzuki India, which sells one in every two cars in the country, fell 16% in the last fiscal year, hit by a slowing economy and lean demand as well as the coronavirus outbreak. Maruti, majority owned by Japan’s Suzuki Motor Corp, sold 1.56 million vehicles during the year ended March 31, compared with 1.86 million in the previous year, the company said on Wednesday. The coronavirus outbreak has infected nearly 800,000 people across the world and caused more than 38,800…

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Indian bonds rally on new foreign investment category Best ECN broker in India Best MT5 Broker Commodity Broker Forex Analysis 

Indian bonds rally on new foreign investment category

By Ritu, Capital Sands Indian bonds rallied on Tuesday after the Reserve Bank of India (RBI) announced a new category for foreign investors, while hopes of a reduction in April’s borrowing or cancellation ahead of the first-half borrowing plan aided sentiment. The RBI said on Monday it was introducing a new category called the “fully accessible route” for foreign investors, in line with the budget announcement earlier this year. Investors can buy all fresh issuance of 5-, 10- and 30-year bonds starting April 1 under this category, while five existing…

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Asian Stocks Rise on The Back of Better-Than-Expected Chinese PMI Figures

By Administrator_India Capital Sands Asian stock markets made modest gains as China announced a higher-than-expected Purchasing Manager’s Index data. China’s Shanghai Composite gained 0.41%, while Shenzhen Component was up 1.26% after data showed the country’s March manufacturing PMI came in at 52.0, compared with the record low of 35.7 last month. Analysts had expected a PMI of 45, according to the data compiled. The country also reported a non-manufacturing PMI of 52.3, almost double last month’s 29.6. Hong Kong’s Hang Seng Index was up by 2.24%. Meanwhile, Japan’s Nikkei 225 rose 0.69%, while neighboring South Korea’s KOSPI gained 1.8%. Down Under,…

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