Author: Ritu

Oil majors slash 2020 spending by 20% after prices slump

Oil majors slash 2020 spending by 20% after prices slump

By Ritu, Capital Sands The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia and Russia. Cuts already announced by eight major oil companies, including Saudi Aramco and Royal Dutch Shell , […]

European shares inch higher but set for worst quarter since 2002

European shares inch higher but set for worst quarter since 2002

By Ritu, Capital Sands European stocks inched higher on Tuesday with investors buying into defensive sectors as they awaited further signs that the economy could weather the fallout from a near total global shutdown to curtail the spread of the coronavirus pandemic. The pan-European STOXX 600 index  was up 1.1% at 0706 GMT, with real estate stocks , utilities  and […]

RBI may soon allow repurchase ops in corporate bonds

RBI may soon allow repurchase ops in corporate bonds

By Ritu, Capital Sands Indian authorities are considering allowing corporate bonds as collateral for repurchase operations as they seek to cool the recent spike in corporate borrowing costs in the wake of the coronavirus outbreak. “We have to work it out. Under the RBI Act, we are not allowed to take any other collateral other than government securities. But we […]

Europe Boosted by Strong Gains in Energy Stocks

Europe Boosted by Strong Gains in Energy Stocks

By Ritu, Capital Sands European stock markets surged higher Friday, helped by strong gains in the energy sector after oil prices bounced back. At 03:55 ET (0855 GMT), the U.K.’s FTSE index was trading 2.3% higher, France’s CAC 40 and the DAX were up 4.8%. The pan-eurozone index, the Euro Stoxx 50, gained 4.5%.  Additionally, U.S. crude futures traded 6.6% higher at $27.62 a barrel, after soaring 24% Thursday. […]

Europe to Edge Lower Despite ECB Support

Europe to Edge Lower Despite ECB Support

By Ritu, Capital Sands European stock markets are expected to edge lower Thursday, with investors still contemplating the possibility of several months of declining economic activity despite an increasingly robust policy response that reached a new high late on Wednesday as the European Central Bank unveiled its biggest anti-crisis program yet. The European Central Bank launched a 750 billion euro […]

Panic buying forces British supermarkets to impose limits

Panic buying forces British supermarkets to impose limits

By Ritu, Capital Sands Panic buying by British shoppers escalated on Wednesday with shelves stripped bare by alarmed customers hoarding for the coronavirus isolation, prompting Tesco  and Sainsbury’s to restrict purchases. Prime Minister Boris Johnson, who has faced criticism for acting too slowly and too cautiously to tackle the coronavirus outbreak, said on Tuesday that there was no reason to stockpile […]

In Delhi, riots deepen a Hindu-Muslim divide

In Delhi, riots deepen a Hindu-Muslim divide

By Ritu, Capital Sands For years, Hindus and Muslims lived and worked peacefully together in Yamuna Vihar, a densely populated Delhi district. But the riots that raged through the district last month appear to have cleaved lasting divisions in the community, reflecting a nationwide trend as tensions over the Hindu nationalist agenda of Prime Minister Narendra Modi boil over. Many […]

Calls Rise for Emergency Dollar Funding, With Strains Escalating

Calls Rise for Emergency Dollar Funding, With Strains Escalating

By Ritu, Capital Sands Emerging signs of a rush for dollars in the global financial system have spurred calls for the world’s central banks to use a key tool deployed during the credit crisis more than a decade ago: currency swap lines. The Bloomberg Dollar Spot Index climbed more than 1% for the second time this week on Thursday, reaching […]

Indian stocks crash into bear territory as coronavirus now a pandemic

Indian stocks crash into bear territory as coronavirus now a pandemic

By Ritu, Capital Sands The Indian stock market plunged into bear territory on Thursday, with the blue-chip Nifty 50 sliding to its lowest in over 2-1/2 years, after the coronavirus outbreak was termed a pandemic and the United States suspended travel from Europe. The NSE Nifty 50 index and S&P BSE Sensex fell over 7.5% each to 9,648.65 and 32,990.01, […]

China says consumer sales steadying after virus hit, trade still tough

China says consumer sales steadying after virus hit, trade still tough

By Ritu, Capital Sands The coronavirus outbreak has hit global demand, but its impact on China’s foreign trade is only temporary, the Commerce Ministry said on Thursday, adding that authorities would roll out more targeted support measures to stabilise supply chains. The epidemic, which has killed more than 3,000 people and infected more than 80,000 in mainland China, has triggered […]