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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 , […]

U.S. death toll spirals amid rush to build field hospitals, find supplies

By Administrator_India Capital Sands The U.S. government raced on Tuesday to build hundreds of makeshift hospitals near major cities as healthcare systems were pushed to capacity, and sometimes beyond, by the coronavirus pandemic. Even as millions of Americans hunkered down in their homes under strict “stay-at-home” orders, the death toll, as talled by sources, shot up by more than 850 […]

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 […]

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. […]

Oil plunges to 2002 lows, shares sink again

Oil plunges to 2002 lows, shares sink again

By Administrator_India Capital Sands Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months. There were some bright spots, with Australian equities posting a standout jump as the government launched a super-sized support programme, but that was about it. Japan’s Nikkei had led the rest of […]

Crude oil futures drop as pandemic darkens demand outlook

By Administrator_India Capital Sands Crude oil benchmarks fell sharply on Monday, with Brent hitting its lowest since November 2002, as the global coronavirus pandemic worsened and the Saudi Arabia-Russia price war showed no signs of abating. Brent futures were down 6.7%, or $1.68, to $23.25 a barrel, after earlier dropping to $23.03, the lowest since November 2002. U.S. West Texas […]

Europe Slips After Recent Gains as Virus Cases Mount

Europe Slips After Recent Gains as Virus Cases Mount

By Administrator_India Capital Sands European stock markets traded lower Friday, with investors taking stock after recent hefty gains and as the coronavirus pandemic continues to reap damage throughout the region.  At 04:10 ET (0510 GMT), the U.K.’s FTSE index was trading 3.9% lower, France’s CAC 40 was down 3.0%, while the DAX fell 1.9%. The broader based Stoxx 600 Europe index dropped 2.5%.   The benchmark Stoxx 600 […]

End-of-week Gains for Asian Stocks

By Administrator_India Capital Sands Asian stock markets were up on the last trading day of the week despite drops in Chinese industrial profits and a huge rise in U.S. jobless claims. China’s National Bureau of Statistics reported that industrial profits for January and February dropped 38.3% year on year, compared to a 6.3% drop in December 2019. The steepest drop […]

Euro Benefits From Talk of 'Corona' Bonds

Euro Benefits From Talk of ‘Corona’ Bonds

By Administrator_India Capital Sands The euro has posted gains Thursday amid talk of a new debt instrument to combat the coronavirus outbreak as the death toll rises and the economic damage becomes more stark. At 4:10 ET (0810 GMT), EUR/USD traded at 1.0938, up 0.5%. Elsewhere, the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at […]

Stocks run out of steam on U.S. job jitters, yen gains

By Administrator_India Capital Sands A two-day equities rally lost momentum on Thursday, and investors sold riskier currencies, as stimulus negotiations dragged on in Washington and investors fretted over a likely spike in U.S. jobless claims. MSCI’s broadest index of Asia-Pacific shares outside Japan wobbled either side of flat. Japan’s Nikkei slumped 4% and U.S. stock futures fell 1%. The dollar climbed around […]

Stocks - Europe Pushes Higher on Stimulus Agreement

Stocks – Europe Pushes Higher on Stimulus Agreement

By Administrator_India Capital Sands European stock markets pushed firmly higher Wednesday, with investors breathing a sign of relief that U.S. policymakers have managed to come together to deliver a massive rescue package to bolster the country’s beleaguered economy. At 03:50 ET (0850 GMT), the U.K.’s FTSE index was trading 4.2% higher, France’s CAC 40 was up 3.9%, while the DAX rose 3.0%.The broader based Stoxx 600 Europe index […]

Two more NYSE floor traders test positive for coronavirus: memo

By Administrator_India Capital Sands At least two more New York Stock Exchange floor traders tested positive for the coronavirus on Tuesday despite measures taken to prevent people infected by the virus from entering the exchange while it remained physically open last week. Given the possibility of exposure, and consistent with local, state, and federal government guidance, we recommend that all […]

European shares trudge higher as stimulus wave stems selloff

European shares trudge higher as stimulus wave stems selloff

By Administrator_India Capital Sands European shares attempted another rebound on Tuesday as a fresh wave of monetary and fiscal stimulus halted a global selloff in equity markets, but growing evidence of the economic damage from the coronavirus pandemic kept investors on edge. In a co-ordinated global effort to stabilize financial markets in one of the biggest routs on record, Germany […]

घर बैठे इंटरनेट के जरिए कमाएं पैसा, हर महीने कमाने का मौका

घर बैठे इंटरनेट के जरिए कमाएं पैसा, हर महीने कमाने का मौका

कोरोना वायरस के खतरे को देखते हुए ज्यादातर लोग घर से काम कर रहे हैं. लेकिन, कई ऐसे भी लोग हैं, जिनकी कमाई फिलहाल बंद हो गई है | बिजनेसमैन से लेकर नौकरीपेशा तक परेशान है. ऐसे लोगों के लिए वर्क फ्रॉम होम काफी फायदेमंद है. ‘वर्क फ्रॉम होम’ यानी घर से काम, ये वो कीवर्ड है जो भारत में […]

With latest moves, Fed becomes creditor in chief for U.S. business

By Admininstrator_India Capital Sands In undertaking what will undoubtedly be its largest rescue effort ever, the Federal Reserve on Monday announced programs that represent a never-before-seen intervention by the central bank into the heart of the “real” American economy. Chair Jerome Powell and his colleagues, in a desperate gambit to prevent outright economic calamity during the coronavirus pandemic, are on […]

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 […]

Asian Markets Fall as COVID-19 Uncertainty Increases

By Administrator_India Capital Sands Asian markets took sharp tumbles across the board Monday morning as the number of COVID-19 cases rose sharply around the world over the weekend. Globally, there are now 294,110 confirmed cases and 12,944 deaths as of March 22 according to the World Health Organisation. The S&P/ASX 200 led losses with a tumble of 7.34%. China’s Shanghai Composite lost 2.84% […]

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. […]

China asks airlines to cut international flights, redirects some due to virus

By Administrator_India Capital Sands China’s aviation regulator has asked airlines to cut international flights and ordered some Beijing ones to be rerouted, as the country grapples with a rising number of imported coronavirus cases, especially in the capital. The regulator said in a statement on Thursday some international flights of Chinese carriers scheduled to arrive in Beijing in the coming days would […]

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 […]

Tough Days May Lie Ahead for One of Asia’s Worst Equity Markets

By Administrator_India Capital Sands Thailand, one of Asia’s worst major equity markets this year, has suffered from the trade war, a severe drought and a delay in the government’s budget. Yet worse may lie ahead as the coronavirus pandemic triggers closures of cinemas, schools, sports clubs, gymnasiums and restaurants, with many people working from home. Southeast Asia’s second-largest economy has […]

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 […]

Asian Stocks Mixed as Volatility Continues

By Administrator_India Capital Sands Asian markets were mixed on Wednesday morning, as Japanese stocks outperforming its regional peers following the release of data that showed the country’s exports fell less than expected last month In Japan, provisional data released by the Ministry of Finance on Wednesday showed a 1% drop in exports year-on-year in February, less than the 4.3% predicted by analysts. The Nikkei […]

Gold Declines as Virus Panic Spurs Sell Off Across Markets

By Administrator_India Capital Sands Gold declined as investors rush to raise cash to cover losses in other markets amid a rout in U.S. stocks, with global leaders striking a pessimistic tone over the likely economic impact of the coronavirus outbreak. Wall Street stocks plunged the most since 1987 on Monday after President Donald Trump warned the economic disruption from the […]

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 […]

Asian Markets Continue Rollercoaster Ride Despite Fed’s Monetary Bazooka 

By Administrator_India Capital Sands Asian markets continued their  rollercoaster ride  on Monday morning  in the aftermath of  a big rally in  U.S. markets  Friday  while digesting data from China that showed  huge falls on industrial production, retail sales and investment.   Wall Street rallied strongly on Friday,  with  the  Dow Jones Industrial Average closing up by 9.36%, theS&P 500  gained  9.29% and the NASDAQ Composite 9.35%. But the  rally did […]

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 […]

India’s current account deficit shrinks sharply in October-December quarter

By Administrator_India Capital Sands India’s current account deficit (CAD) narrowed further in the October-December quarter on the back of a contraction in the trade deficit and rise in net services receipts, the central bank said on Thursday. The CAD declined to 0.2% of gross domestic product in the three months, the third quarter of the 2019/20 fiscal year, from 2.7% […]

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, […]

Gold rises as concerns over U.S. stimulus dent risk appetite

By Administrator_India Capital Sands Gold prices rose on Wednesday after a steep fall in the previous session, as doubts about a stimulus package proposed by U.S. President Donald Trump to soften the economic impact of the coronavirus epidemic weighed on risk sentiment. Spot gold was up 0.4% at $1,656.37 per ounce, having fallen nearly 2% on Tuesday on hopes for […]

Japan’s households tighten wallets as coronavirus empties streets

By Administrator_India Capital Sands Japanese homes extended their frugal spell for a fourth straight month in January as an earlier sales tax hike and a warmer winter kept wallets shut, adding to headaches for firms as they struggle with the growing hit to business from the coronavirus. The world’s third-largest economy is trying to cushion the blow to output and […]

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 […]

RBI may soon allow repurchase ops in corporate bonds

RBI may not follow the Fed with rate cut economists say

By Administrator_India, Capital Sands Indian debt markets have priced in a 25 basis points rate cut by the Reserve Bank of India (RBI) at its April policy meeting or even sooner, but some economists remain circumspect and warn the rally in bond yields could prove premature. The benchmark 10-year bond yield dropped as much as 13 basis points on Wednesday […]

European shares rise as investors hope for more stimulus

European shares rise as investors hope for more stimulus

By  Administrator_India, Capital Sands European shares rose on Wednesday as investors hoped the European Central Bank and euro zone governments would green light stimulus measures after the U.S. Federal Reserve cut interest rates in an emergency move. The Fed’s 50 basis points cut on Tuesday caught Wall Street off guard as it magnified the economic impact of the coronavirus and […]

Global supplier India curbs drug exports as coronavirus fears grow

By Administrator_India, Capital Sands India, the world’s main supplier of generic drugs, has restricted the export of 26 pharmaceutical ingredients and the medicines made from them, including Paracetamol, a common pain reliever also sold as acetaminophen, as the coronavirus outbreak plays havoc with supply chains. The Indian government urged calm and said there were enough stocks to manufacture formulations for […]

India housing market to keep struggling this year

India housing market to keep struggling this year

By Ritu, Capital Sands India’s housing market is likely to struggle throughout 2020 as sluggish demand and a weak economic outlook overpower recent government measures efforts to boost activity, a Reuters poll of market experts found. House prices rose 5.7% on average in 2018, the weakest since comparable records began in 2010, and data available for last year suggest a […]

Japan’s Abe says ready to top up fiscal spending if coronavirus hits economy

By Administrator_India, Capital Sands Japanese Prime Minister Shinzo Abe said on Tuesday his government was ready to deploy further fiscal stimulus measures if needed to protect the country’s already fragile economy from the negative effects of the coronavirus. Abe, who has come under fire for his handling of the crisis, has pledged to focus over the next couple weeks on […]

India factory activity growth slows in February on weak demand

India factory activity growth slows in February on weak demand

By Ritu, Capital Sands India’s factory activity growth slowed in February from the previous month’s eight-year high due to a modest weakening in demand and output, although overall conditions remained firm, a private survey showed on Monday. The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, fell to 54.5 last month from January’s 55.3, above a Reuters poll forecast […]

New York confirms first coronavirus case; U.S. ramps up preparations

By Administrator_India, Capital Sands New York state confirmed its first positive coronavirus test, Governor Andrew Cuomo said on Sunday night, as the U.S. government said it would start screening travelers for the virus and hike production of protective masks. Cuomo said on Twitter that a woman in her 30s contracted coronavirus during a recent trip to Iran and was in […]

European shares trudge higher as stimulus wave stems selloff

European stocks dive 3% as coronavirus raises recession fears

By Ritu, Capital Sands European shares dove 3% on Friday, sliding deeper into correction territory, as investors feared a global recession is on the horizon with the coronavirus spreading across the world. The pan-regional STOXX 600 was on track to record its biggest weekly decline since the height of the global financial crisis in 2008. The index entered correction levels […]

Japan minister flying to Lebanon to make case for Ghosn’s return

By Administrator_India, Capital Sands Japan’s vice minister of justice is traveling to Lebanon this weekend to try to make the case that fugitive ex-Nissan Chairman Carlos Ghosn should stand trial in Japan. Hiroyuki Yoshiie will leave Tokyo on Saturday and meet with Lebanese justice minister Albert Serhan on Monday, Japan’s justice ministry said. The former leader of the Renault Nissan auto […]

Dollar Hits 2-Week Lows as Pandemic Fears Intensify

Dollar Hits 2-Week Lows as Pandemic Fears Intensify

By Ritu, Capital Sands The dollar extended losses on Thursday, falling to two-week lows against a currency basket as the first confirmed coronavirus case of unknown origin in the U.S. heightened fears of a pandemic. The dollar fell 0.4% to 109.94 yen , extending a pullback from a 10-month high of 112.23 yen reached on Feb. 20. The dollar was down 0.5% to […]

Dovish board member calls for review of BOJ’s policy framework

By Administrator_India, Capital Sands The Bank of Japan should review its monetary policy framework to re-examine its tools for propping up inflation, one of its board members said on Thursday, as the fallout from the coronavirus outbreak risks tipping the economy into recession. Goushi Kataoka, one of the most dovish members of the BOJ board, said the government and the […]

Microsoft launches new program to help B2B startups in India

Microsoft launches new program to help B2B startups in India

By Ritu, Capital Sands The new program is open to Microsoft co-sell enabled startups associated with the company. Microsoft on February 24 launched a new program to bring 100 companies to commit $100,000 (Rs 71,83,455) each for enterprise-ready solutions from 100 business-to-business (B2B) startups in the Software-as-a-Service (SaaS) space in India over the course of 18 months. Called the “100X100X100” […]

New UK finance minister Sunak should resist rewriting fiscal rules: IFS

By Administrator_India, Capital Sands New finance minister Rishi Sunak should resist the urge to rewrite Britain’s fiscal rules ahead of the budget next month and he should make plain that any spending increases will mean more tax, a think-tank said on Wednesday. Sunak will deliver the first post-Brexit budget, which is expected to entail a big increase in spending, on […]

Falling exports bring German economy to standstill in fourth quarter

Falling exports bring German economy to standstill in fourth quarter

By Ritu, Capital Sands Shrinking exports held back German economic activity in the fourth quarter of last year, detailed data showed on Tuesday, confirming that Europe’s largest economy was stagnating even before the coronavirus outbreak began. Germany’s export-dependent manufacturers are being hit by a slowing world economy and increased business uncertainty linked to tariff disputes and Britain’s exit from the […]

Stocks – Dow S&P Suffer Biggest One-Day Loss in Two Years on Virus Fear Selling

By Administrator_ India, Capital Sands The Dow and S&P suffered their biggest daily loss in two years on Monday, paced by a selloff in energy and tech stocks on worries about a potential corona-virus pandemic outbreak. The S&P 500 tumbled 3.35%, Nasdaq Composite lost 3.71% and the Dow Jones Industrial Average fell 3.56%, or 1,032 points. The World Health Organization warned that a “sudden increase in […]

Dollar Regains Ground as Coronavirus Spreads Globally

Dollar Regains Ground as Coronavirus Spreads Globally

By Ritu, Capital Sands The dollar regained ground against a currency basket on Monday as a surge in new cases of coronavirus globally, most notably in Italy, renewed concerns over the economic impact of the outbreak. Authorities in Italy imposed a quarantine in the north of the country to try to halt what is the largest outbreak of the virus […]

Trump accuses Schiff of leaking intelligence about Russia to hurt Sanders

By Administrator_India, Capital Sands President Donald Trump on Sunday accused Representative Adam Schiff of leaking classified information on Russian interference in the 2020 U.S. election to hurt Democratic presidential front-runner Bernie Sanders. Speaking to reporters as he left the White House for a trip to India, Trump said he had not been briefed on intelligence that Russia was aiming to […]

INDIAN INSTITUTION ENGINEERS (IIE) IS PROVIDING GENUINE CERTIFICATES EQUIVALENT TO BE/B TECH OR DIPLOMA ENGINEERING

Reportedly the education industry is worth over Rs. 12,000 crores worldwide. Reportedly Sounds similar but both captioned organizations are different (https://www.ieindia.org/andhttp://iieinstitution.com/  are not the same). MHRD should come out with a detailed statement on which is best Institution. Otherwise, lakhs of students will get duped in India and abroad. MHRD Notification recognizing 15 courses of Sections A & B Examinations as revised, conducted […]

Yen Near 9-Month Lows, Euro Stays on the Back Foot

Yen Near 9-Month Lows, Euro Stays on the Back Foot

By Ritu, Capital Sands The safe haven yen was trading close to nine-month lows against the dollar on Thursday as risk appetite was underpinned by expectations that China will continue with steps to offset the economic impact of the coronavirus epidemic. The dollar was trading at 111.69 against the Japanese currency , not far from the highest level since May 2019. […]

U.S. meeting on Huawei, China policy still on for Thursday despite Trump tweets

By Administrator_India, Capital Sands A meeting of U.S. government officials to discuss further curbs on exports to Huawei and China is still on for Thursday, two sources said, despite push back from President Donald Trump against the restrictions. The deputy-level meeting was called to discuss proposals including possible new restrictions on sales of chips made abroad to China’s blacklisted Huawei […]

Dollar Regains Ground as Coronavirus Spreads Globally

Dollar in Demand; Turkish Central Bank in Focus

By Ritu, Capital Sands The U.S. dollar continues to gain fans Wednesday, with China’s coronavirus continuing to batter economies in Asia, Europe showing very few signs of growth while the U.S. economy exhibits a reasonably healthy glow. EUR/USD traded at 1.0798, after pushing as low as $1.0786 for the first time since April 2017. The U.S. Dollar Index, which tracks the greenback […]

USD/JPY probes 110.00 as stocks consolidate losses in Asia

By Administrator_India, Capital Sands USD/JPY rises to the highest levels in four days. Risk reset, downbeat data from Japan seem to have contributed to the pair’s run-up. Coronavirus continues to weigh on the market’s trade sentiment. US data, Chinese headlines will offer near-term direction. USD/JPY takes the bids to 110.00 during early Wednesday. The risk barometer recently benefited from the uptick […]

Apple hits stocks, euro near three-year low

Apple hits stocks, euro near three-year low

By Ritu, Capital Sands World stocks markets were knocked off record highs on Tuesday as two of the world’s mega companies reported damage from the coronavirus outbreak. Apple’s stock fell almost 6% in Frankfurt and all Europe’s main markets fell after the iPhone maker warned it was unlikely to meet the March quarter sales guidance it had set just three […]

Hong Kong leader increases funds to tackle coronavirus

By Administrator_India, Capital Sands Hong Kong leader Carrie Lam on Tuesday increased a relief fund to tackle the impact of the coronavirus outbreak as she urged residents to accept the government’s quarantine plans for returning passengers from a cruise ship stranded in Japan. Lam said the government would increase handouts to tackle the outbreak to HK$28 billion ($3.60 billion) from […]

India's Vodafone Idea to pay 35 billion rupees in telecom , shares rise

India’s Vodafone Idea to pay 35 billion rupees in telecom , shares rise

By Ritu, Capital Sands Beleaguered Indian wireless carrier Vodafone Idea will pay 35 billion rupees ($490 million) in telecoms dues to the federal government by Feb. 21, a lawyer for the company said on Monday. Hopes that Vodafone Idea could outlive the financial squeeze due to the outstanding dues payments helped its shares gain as much as 23.5% on Monday, their […]

China approves imports of all poultry, poultry products from U.S.

By Administrator_India, Capital sands China has approved the import of all poultry and poultry products from the United States, the Ministry of Agriculture and Rural Affairs said on its website on Monday. Beijing had previously banned all trade in poultry products from the United States due to outbreaks of avian influenza there. It has allowed the import of chicken meat […]

Zuckerberg accepts Facebook may pay more tax in different places

Zuckerberg accepts Facebook may pay more tax in different places

By Ritu, Capital Sands Facebook  Chief Executive Mark Zuckerberg accepts that global tax reforms mean the social networking giant may have to pay more taxes in different countries, Politico reported, citing excerpts of a speech he is due to give on Saturday. Cross-border tax rules are set to be rewritten after 137 states sought last month to avoid a new […]

Indian generic drugmakers may face supply shortages from China if coronavirus drags on

By Administrator_India, Capital Sands Shortages and potential price increases of generic drugs from India loom if the coronavirus outbreak disrupts suppliers of pharmaceutical ingredients in China past April, according to industry experts. An important supplier of generic drugs to the world, Indian companies procure almost 70% of the active pharmaceutical ingredients (APIs) for their medicines from China. Optimism that the […]

Euro plunges against Swiss franc as China virus cases soar

Euro plunges against Swiss franc as China virus cases soar

By Ritu, Capital Sands The euro fell to a four-and-a-half-year low against the Swiss franc on Thursday and the yen gained as investors sought safe havens after China’s Hubei province, the epicentre of the coronavirus outbreak, reported a sharp increase in the number of new cases. Using a new method of diagnosis, the province reported on Thursday 14,840 new cases […]

European diplomats check India’s loosening of Kashmir clampdown

By Administrator_India, Capital Sands  More than two dozen diplomats are visiting Indian-administered Kashmir, New Delhi said on Wednesday, as the country tries to reassure foreign allies following several months of unrest in the contested territory. The group includes European diplomats, some of whom declined a previous invitation from New Delhi to visit the region. A proposed vote in the European […]

Gold eases on rising risk appetite as new virus cases fall

Gold eases on rising risk appetite as new virus cases fall

By Ritu, Capital Sands Gold prices edged lower on Wednesday as new coronavirus cases fell and risk appetite improved, although uncertainty over the economic impact of the outbreak still underpinned bullion. Spot gold XAU= edged 0.2% lower to $1,564.15 per ounce by 0818 GMT. U.S. gold futures were down 0.2% at $1,567.50. While the death toll exceeded 1,100, China’s foremost […]

Asian Markets Mixed After Powell Speech

By Administrator_India, Capital Sands Asian markets were mixed in morning trade on Wednesday as investors digested the latest views from U.S. Federal Reserve Chairman Jerome Powell. China’s Shanghai Composite slipped 0.1% by 10:01 PM ET. The Shenzhen Component gained 0.6%. Hong Kong’s Hang Seng Index also rose 0.5%. Japan’s Nikkei 225 traded 0.6% higher after returning from a holiday. Softbank Group Corp. (T:9984)’s stock skyrocketed as […]

Dollar and Yen supported as coronavirus fears weigh on mood

By Administrator_India, Capital Sands. The U.S. dollar and Japanese yen were in demand on Tuesday, along with the bonds of both countries, as worries about the spread of coronavirus had investors heading for safe harbors. The World Health Organization said overnight that the spread of cases among people who have not been to China could be “the spark that becomes […]

Yuan Boosted by Inflation Data; Dollar to Stay Strong

Yuan Boosted by Inflation Data; Dollar to Stay Strong

By Ritu, Capital Sands The Chinese yuan pushed higher Monday on the back of stronger-than-expected local inflation data, but a solid jobs report on Friday coupled with weaker economic numbers in Europe mean the U.S. dollar is likely to stay strong in the near term. USD/CNY traded at 6.9810, 0.26% lower, after falling as low as 6.9774 earlier Monday, while the U.S. Dollar Index that […]

Asian Markets Mixed; Chinese Stocks Rebound After Release of Inflation Data

By Administrator_India Capital Sands  Asian markets were mixed on Monday morning, with Chinese stocks rebounding after data showed China’s producer prices gained 0.1% year-on-year, which was the first pickup since May 2019. Factory-gate prices were previously expected to rise 0.1% from a year earlier, compared with a 0.5% drop in December. Consumer prices also gained 5.4% year-on-year compared with an expected 4.9% rise […]

Gold steady as shares lose ground on fears of virus impact on growth

Gold steady as shares lose ground on fears of virus impact on growth

By  Administrator_India, Capital Sands Gold prices were steady on Friday after two days of gains as share markets lost ground, with the coronavirus that originated in Wuhan, China, showing no signs of slowing down, escalating fears of a broader impact on economic growth. The metal, however, was still on track for its biggest weekly decline in three months as strong […]

India’s divisive protests could help Modi’s BJP in Delhi election test

By Administrator_India, Capital Sands Indian Prime Minister Narendra Modi and his party this week face their first electoral test since deadly anti-government protests erupted nearly two months ago, with the divisive turmoil likely to win them votes at polls in the capital.Modi’s Hindu-nationalist Bharatiya Janata Party (BJP) won a bigger majority in a general election in May, but it has […]

China halve tariffs U.S.

China to halve tariffs on some U.S. imports as virus risks grow

By  Administrator_India, Capital Sands China on Thursday said it would halve additional tariffs levied against 1,717 U.S. goods last year, following the signing of a Phase 1 deal that brought a truce to a bruising trade war between the world’s two largest economies. While the announcement reciprocates the U.S. commitment under the deal, it is also seen by analysts as […]

Weak growth to pull down Indian rupee, coronavirus fears to impinge

By Administrator_India, Capital Sands The battered Indian rupee will weaken further against the dollar over the coming year as a significant pickup in economic growth is unlikely, While Reserve Bank of India Governor Shaktikanta Das has said reviving growth was a ‘national objective’ in coordination with the government, the latest budget provided only minimal support to the slowing economy. “We […]

Solid demand lifts India services activity to seven-year high in January

Solid demand lifts India services activity to seven-year high in January

By  Administrator_India, Capital Sands India’s dominant service industry began 2020 in a buoyant mood as activity accelerated in January at the fastest pace in seven years on strong domestic demand, a private survey showed on Wednesday. The results would likely bring some relief for markets and policymakers after only modest spending increases in a recent budget had disappointed investors looking […]

Bharti Airtel posts another loss as it faces massive government dues

By Administrator_India, Capital Sands Bharti Airtel Ltd reported its third straight quarterly loss on Tuesday, as India’s third-largest telecom firm booked 10.50 billion rupees ($147 million) in charges related to spectrum fee payments and write-downs of network equipment. The company reported a loss of 10.35 billion rupees ($145 million) for the three months ended Dec. 31, compared with a profit […]

PNB Q3: Misses Street estimates by a wide margin, net loss at Rs 492.3 crore

PNB Q3: Misses Street estimates by a wide margin, net loss at Rs 492.3 crore

By  Administrator_India, Capital Sands Punjab National Bank  on February 4 reported a standalone net loss of Rs 492.3 crore for Q3FY20 against a profit of Rs 246.50 crore in Q3FY19.The public-sector lender missed Street estimates by a wide margin. A CNBC-TV18 poll has estimated a profit of Rs 967.7 crore. Net interest income came at Rs 4,355 crore against the […]

RBI seen holding rates, retaining dovish stance

By Administrator_India, Capital Sands  The Reserve Bank of India is likely to keep monetary policy accommodation without cutting interest rates at a policy meeting on Thursday, economists said, as inflation is above target and the economy has shown possible signs of recovery from its worst slowdown in more than a decade. The central bank’s monetary policy committee (MPC) cut rates […]

New Zealand Braces for Economic Hit as Chinese Tourists Banned

New Zealand Braces for Economic Hit as Chinese Tourists Banned

By  Administrator_India, Capital Sands New Zealand is bracing for the coronavirus to hit its tourism industry and dent economic growth. The isolated South Pacific nation may suffer a bigger economic impact than others because tourism is its largest export earner and China, the source of the outbreak, accounts for about 10% of foreign visitors. It is also vulnerable to slowdowns […]

Modi’s guarded stimulus unlikely to revive Indian growth

By Administrator_India, Capital Sands India’s new budget is unlikely to drag Asia’s third- biggest economy out of its worst slowdown in more than a decade as the government has proposed only moderate spending increases and small cuts in personal taxes, economists said on Sunday. They said there was a risk the government might miss its fiscal deficit target for 2020-21 […]

Euro plunges against Swiss franc as China virus cases soar

Euro Slides as Weak Q4 Data Take Shape

By  Administrator_India, Capital Sands The euro fell in early European trading Friday, weighed by signs of weakness in the region’s two largest economies. EUR/USD traded at $1.1027, down 0.1%, while EUR/GBP fell 0.2% to 0.8398. First up, German retail sales slumped 3.3% in December, a much weaker number than expected, suggesting the country’s shoppers reined in their consumption in the final month of […]

India’s food ministry seeks over $28 billion for food subsidies: sources

By Administrator_India, Capital Sands India’s food ministry has sought more than 2 trillion rupees ($28.1 billion) to run the world’s biggest food welfare program in the fiscal year beginning April 1 But the government is likely to earmark only around 1.90 trillion rupees “The finance ministry may not be able to allocate more than 1.9 trillion rupees in the budget,” […]

Bank of Japan Deputy Governor Masayoshi Amamiya speaks during a Reuters Newsmaker event in Tokyo

BOJ must be ready to issue digital currencies: deputy governor Amamiya

By  Administrator_India, Capital Sands The Bank of Japan must be ready to issue digital currencies if rapid technical advances in settlement systems boost public demand, its deputy governor said, leaving open the chance of issuing central bank digital currencies (CBDC) in the future. Masayoshi Amamiya said the BOJ had no immediate plans to issue CBDCs as various factors must be […]

BJP recommends tax tweaks to attract foreign investors

By Administrator_India, Capital Sands Prime Minister Narendra Modi’s party has recommended adjusting rules on taxing equity market returns in the upcoming budget on Feb. 1, which if accepted, could attract more capital inflows into the stock markets, a senior party leader said. Financial market participants have been lobbying for scrapping long term capital gains tax (LTCG) on investment in equity […]

House Democrats call for $760 billion in infrastructure spending over five years

House Democrats call for $760 billion in infrastructure spending over five years

By  Administrator_India, Capital Sands U.S. House Democrats on Wednesday will unveil a proposed $760 billion infrastructure spending bill over five years that aims to rebuild sagging roads and bridges and reduce carbon pollution. The proposal is also intended to get U.S. President Donald Trump to return to the bargaining table. Trump campaigned in 2016 on boosting infrastructure spending by at […]

India’s budget likely to raise spending to revive economic growth

By Administrator_India, Capital Sands Prime Minister Narendra Modi’s government is expected to raise spending on infrastructure and cut some personal tax in its 2020/2021 budget, to spur consumer demand and investment, government sources and economists said. India is facing its worst economic slowdown in a decade. Growth slipped to 4.5% in the July-September quarter, worsening the job prospects for millions […]

Coronavirus infects Asia stocks with exposure to China

Coronavirus infects Asia stocks with exposure to China

By  Administrator_India, Capital Sands Shares of companies highly exposed to China’s economy tumbled across Asia on Tuesday on rising concern about the impact of global travel bans associated with a new virus outbreak, and even as some stocks involved in preventative health spiked. After the United States and Canada warned against travel to China where the new coronavirus is thought […]

Oil falls for sixth day as China virus spreads

By Administrator_India, Capital Sands Oil futures slipped on Tuesday, extending losses into a sixth session as the spread of a new virus in China and other countries raised concerns about a hit to economic growth and slower oil demand. Brent crude was down 15 cents, or 0.3%, to $59.17, after touching a three-month low on Monday at $58.50. U.S. West […]

China extends holiday, businesses shut as virus toll rises to 81

China extends holiday, businesses shut as virus toll rises to 81

By Administrator_India, Capital Sands The death toll from a coronavirus outbreak in China rose to 81 on Monday, as the government extended the Lunar New Year holiday and more big businesses shut down or told staff to work from home in an effort to curb the spread. Chinese Premier Li Keqiang visited the central city of Wuhan, the epicenter of […]

Iraqi security forces kill protester, rockets hit U.S. embassy

 By Administrator_India, Capital Sands Iraqi security forces shot at anti-government protesters in Baghdad on Sunday, killing at least one person, and unidentified men set fire to sit-in tents in a southern Iraqi city, police and medics said, as months-long civil unrest escalated. Separately, at least one of five Katyusha rockets fired at Baghdad’s fortified Green Zone hit the U.S. embassy, […]

Euro-Area Economic Growth Remains ‘Muted’ at Start of 2020

Euro-Area Economic Growth Remains ‘Muted’ at Start of 2020

By Administrator_India, Capital Sands The euro-area economy continued to trundle along at the beginning of 2020, despite signs of a pickup in Germany. IHS Markit’s composite Purchasing Managers’ Index for the region stayed at 50.9 in January, falling short of the 51.2 median forecast of economists. There was a drag from France, where strikes hit the services sector, which offset an improvement in Germany. Weakness […]

Global stocks steady as caution on China virus continues; euro hits seven-week low after ECB

By Administrator_India. Capital Sands Stocks made a barely positive start in early Asian trade on Friday after the world’s health body called it a little too early to declare a coronavirus outbreak a global emergency. But worries over rapid spread of the deadly virus kept investors on guard as millions of Chinese travel during the Lunar New Year holiday period. […]

Swiss National Bank

Swiss National Bank says negative interest rates a necessity

By Administrator_India, Capital Sands Negative interest rates are a necessity for Switzerland, with recent policy tweaks designed to allow the measure to be maintained or even cut deeper, Swiss National Bank Chairman Thomas Jordan said on Thursday. “We know that negative rates also have side effects, that is the reason why we changed the threshold,” Jordan told CNBC, referring to […]

Strong winds and scorching heat reignite Australia’s bushfire danger

By Administrator_India, Capital Sands. Soaring temperatures and strong winds stoked bushfires in Australia’s southeast on Thursday, with Sydney forecast to hit 41 degrees Celsius (105.8 Fahrenheit) following a few days of cooler weather. A fire in the Snowy Mountains region and one in the Bega Valley on the south coast of New South Wales (NSW) state both flared up, with […]

Supreme Court gives government more time

Supreme Court gives government more time to explain divisive citizenship law

By  Administrator_India, Capital Sands The Supreme Court declined calls to suspend the implementation of a new citizenship law on Wednesday, deciding that a constitutional bench of five judges was needed to hear all the challenges to legislation that critics say discriminates against Muslims. The court gave Prime Minister Narendra Modi’s government four weeks to respond to 144 petitions challenging the […]

Trump says U.S. ready to ‘help’ in India-Pakistan Kashmir dispute

By Administrator_India, Capital Sands  President Donald Trump said the United States was watching developments between India and Pakistan over Kashmir “very closely” and was prepared to help if necessary, but did not say how. Speaking ahead of talks with Pakistan Prime Minister Imran Khan on the sidelines of the World Economic Forum, Trump said trade and borders were both critical […]

Corporate tax cut cheer: 40 NSE stocks gain 30-108% since Sept 2019

By Administrator_India, Capital Sands The government’s step to cut corporate tax rate in September 2019 rejoiced the market which was reeling under selling pressure till then. Factors such as IL&FS-led NBFC crisis, rising NPA worries, economic slowdown, US-China trade concerns and high valuations had ruined the sentiment (since January 2018). Nifty50 fell 0.34 percent, while Nifty Midcap index plunged 29 percent and Smallcap cracked […]

BOJ keeps policy steady, nudges up economic growth forecasts

By Ritu, Capital Sands The Bank of Japan kept monetary policy steady and nudged up its economic growth forecasts on Tuesday, as the government’s stimulus package and receding pessimism over the global outlook took some pressure off the central bank to top up stimulus. The BOJ also signaled cautious optimism over the global economy, saying that risks surrounding the outlook […]

Calls Rise for Emergency Dollar Funding, With Strains Escalating

Dollar Calm; Retains Strength Against Main Rivals

By Ritu, Capital Sands The U.S. dollar was largely flat in European trading Monday, with the U.S. holiday providing little incentive for traders to take risks. That said, the greenback still looks strong against its main competitors. At 03:35 ET (0835 GMT), the Dollar Index Futures, which tracks the greenback against a basket of other currencies, was essentially flat at 97.40. USD/JPY traded flat […]

IEA warns oil companies doing nothing on emissions is not an option

By Ritu, Capital Sands Oil and gas companies must boost investment in low carbon energies or face an increasing backlash that could threaten their long-term profits and social acceptance, the International Energy Agency (IEA) said on Monday. In a report with the World Economic Forum presented in Davos, the IEA said oil and gas companies face a critical challenge as […]

Forex - Yuan Pushes Higher After Data Release

Forex – Yuan Pushes Higher After Data Release

By Ritu, Capital Sands The Chinese yuan is flying Friday, climbing to six month highs against the U.S. dollar in the wake of the release of the country’s latest economic growth figures. The USD/CNY pair traded at 6.8598, down 0.3%, while the US Dollar Index Futures, which tracks the greenback against a basket of other currencies, was essentially flat at 97.06. The People’s […]

China posts weakest growth in 29 years as trade war bites, but ends 2019 on firmer note

By Ritu, Capital Sands China’s economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown. But data on Friday also showed the world’s second-largest economy ended the year on a firmer note […]

Merkel Spends Big to Kickstart Germany’s Stalled Coal Exit

By Ritu, Capital Sands Chancellor Angela Merkel clinched a deal to kickstart Germany’s stalled coal exit, offering billions in compensation to utilities and coal regions so that closures of plants can start this year. In talks that began Wednesday evening and lasted well into the night, the government hammered out a timeline with coal-state leaders to shut down the country’s […]

Ruble Slides as Putin Announces Government’s Resignation

By Ritu, Capital Sands The ruble fell on Wednesday after President Vladimir Putin announced the resignation of the Russian government. The announcement comes against the background of speculation that Putin is planning to tweak the constitution to avoid having to leave power when his current term as president ends in 2024. The announcement also comes only days after the ruble […]

Forex – Markets Calm; Sterling Awaits Inflation Data

By Ritu, Capital Sands A tone of caution prevails in the foreign exchange markets Wednesday, ahead of the signing of the much-awaited trade deal between U.S. and China. the safe-haven yen was slightly firmer against the U.S. dollar, with USD/JPY trading at 109.91, down 0.1%, while the euro was marginally lower against the dollar, with EUR/USD at $1.1120, down less than 0.1%. A preliminary […]

Michael Patra appointed deputy governor of RBI for a three-year term

By Ritu, Capital Sands Michael Debabrata Patra, 59, has been appointed the Reserve Bank of India (RBI) deputy governor for three years. The post fell vacant after Viral Acharya resigned on July 23 last year. Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012. He was also an internal […]

Pound on Longest Losing Streak Since May on BOE Easing Talk

By Ritu, Capital Sands The pound extended its decline to the longest run in eight months as speculation of an imminent Bank of England interest-rate cut increased. Sterling fell as much as 0.3% against the dollar to $1.2955. Credit Agricole SA pointed out that more than half of the members of the bank’s Monetary Policy Committee are ready to support a reduction […]

Asian Markets Rise as U.S. Drops China’s Currency Manipulator Label

By Ritu, Capital Sands Asian stocks rose in morning trade on Tuesday after the U.S. dropped China’s currency manipulator label, saying that it has made “enforceable commitments” not to devalue the yuan. China’s Shanghai Composite inched up 0.1%, while the Shenzhen Component gained 0.3%. “China has made enforceable commitments to refrain from competitive devaluation, while promoting transparency and accountability. The U.S. government last summer […]

Sterling Slips vs Dollar, Euro as Vlieghe Fuels Rate Hopes

By Ritu, Capital Sands The dollar opened the week stronger against the pound sterling and the Japanese yen, but weaker against the euro, with markets still unsettled by the weak labor market report on Friday. The dollar index, which measures the greenback against a basket of currencies, was effectively unchanged at 97.130. However, that masked a 0.5% rise for the dollar against sterling, which […]

Economic Calendar – Top 5 Things to Watch This Week

By Ritu, Capital Sands 1. U.S. and China to bury the trade hatchet Chinese Vice Premier Liu He will visit Washington to sign the Phase 1 trade deal with the U.S. on Wednesday, which will deescalate the trade war between the two sides. But no deadline has been set for the next phase of talks to begin and if either side […]

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USD/JPY Technical Analysis: Weekly close beyond 109.70/75 will be a call to bulls

By Ritu, Capital Sands USD/JPY trades positive near the two-week high, on a five-day winning streak. Bullish engulfing on the weekly chart confronts 109.48/52 resistance confluence. 200-week SMA adds to the resistance. USD/JPY takes the bids to 109.55 during the initial trading session on Friday. In doing so, the pair registers a bullish candlestick formation on the weekly chart that currently confronts […]

China’s Vice Premier Liu to sign U.S. trade deal in Washington next week

By Ritu, Capital Sands China’s Vice Premier Liu He, head of the country’s negotiation team in Sino-U.S. trade talks, will sign a “Phase 1” deal in Washington next week, the commerce ministry said on Thursday. Liu will visit Washington on Jan. 13-15, said Gao Feng, spokesman at the commerce ministry. Negotiating teams from both sides remain in close communication on […]

Safe-haven currencies retreat as U.S., Iran seen defusing crisis

By Ritu, Capital Sands The Japanese yen and Swiss franc retreated on Thursday as the United States and Iran backed away from the brink of further conflict in the Middle East. U.S. President Donald Trump responded overnight to an Iranian attack on U.S. forces with sanctions, not violence. Iran offered no immediate signal it would retaliate further to a Jan. […]

Oil majors slash 2020 spending by 20% after prices slump

Oil Prices Up After Iran Attacks Two U.S.-Iraqi Airbases, Sparking More Conflicts

By Ritu, Capital Sands Oil prices jumped on Wednesday in Asia after Iran attacked two U.S.-Iraqi airbases in response to a U.S. airstrike that killed a top Iranian general last week, sparking worries of intensifying conflict in the Middle East. Overnight, the Pentagon said missile strikes were launched from Iran and targeted the Ayn al-Asad base in western Iraq and […]

Swiss franc holds gains, Yen steady as traders eye Iran

By Ritu, Capital Sands The Swiss franc held gains against the dollar on Tuesday as traders sought save-havens amid heightened anxiety about potential Iranian retaliation to a U.S. drone strike that killed its most prominent military commander. The yen, another safe-haven currency, pulled back from a three-month high versus the dollar, but sentiment remains fragile due to the increasing worries […]

Asian Markets Fall Amid Escalating Middle East Tensions, Trade War Uncertainties

By Ritu Capital Sands Asian equities traded mostly lower in morning trade on Monday amid heightened geopolitical tensions in the Middle East, and uncertainties surrounding the singing of the Sino-U.S. phase one trade deal. China’s Shanghai Composite and the Shenzhen Component both gained 0.4%. Sino-U.S. trade developments remained in focus. U.S. President Donald Trump said in a tweet last week that Beijing […]

German unemployment rises more than expected in December

By Ritu, Capital Sands German unemployment rose more than expected in December, data showed on Friday, adding to signs that weakness in the manufacturing sector is hurting the labor market in Europe’s biggest economy. Data from the Federal Labor Office showed the number of people out of work rose by 8,000 to 2.279 million in seasonally adjusted terms. That compared […]

Brent jumps nearly $3 after U.S. air strike kills Iran, Iraq officials

By Ritu, Capital Sands Brent crude futures jumped close to $3 on Friday to their highest since September after a U.S. air strike killed key Iranian and Iraqi military personnel, raising concerns that escalating Middle East tensions may disrupt oil supplies. Brent crude futures  jumped nearly $3 to hit a high of $69.16 a barrel, the highest since Sept. 17. […]

Indian stocks crash into bear territory as coronavirus now a pandemic

India Stocks Rise as Investors Turn Attention to Fiscal Spending

By Ritu, Capital Sands India stocks advanced, extending gains for a second day on the expectation that the government’s plans to spend big will haul the country out of its economic woes. The S&P BSE Sensex 50 climbed 0.3% to 41,419.41 at 9:39 a.m. in Mumbai. The Nifty 50 Index advanced by a similar magnitude. The Sensex has had a positive January in six […]

Dollar Regains Ground as Coronavirus Spreads Globally

Dollar starts new year with a hangover as others find cheer

By Ritu, Capital Sands The dollar started the new year where it left the old one, under pressure as investors wagered U.S. economic out performance could be coming to an end as optimism on trade brightens the outlook for growth globally. Signs of progress in the Sino-U.S. trade dispute undermined the dollar for much of December, leaving its index  down […]

European shares rise as investors hope for more stimulus

European shares falter as year-end rally fades

By Ritu, Capital Sands European shares looked set to end the decade with a whimper on Tuesday as investors locked in gains after a record rally that was fueled by optimism around trade and easing fears of a global recession. In a shortened session ahead of the New Year’s Eve celebrations, the pan-European STOXX 600 index  shed 0.3%. “While market […]

Yuan hits multi-month highs as economy shows signs of stabilization

By Ritu, Capital Sands The Chinese yuan hit almost five-month highs and the USD continued to retreat on the last day of the year in Asia. The U.S. dollar index was down 0.06% to 96.69 by 8:45 PM ET, continuing a multi-day slide. The People’s Bank of China (PBOC) set the reference rate for the yuan at 6.9762, stronger than the 6.9805 fix […]

Oil price rise muted in 2019 despite sanctions, supply cuts, attack in Saudi Arabia

By Ritu, Capital Sands Oil prices rose more than 20% this year but there were no sharp spikes and crude futures barely sniffed $70 a barrel despite attacks on the world’s biggest oil producer, sanctions that crippled crude exports of two OPEC members and gigantic supply cuts from big oil producing countries. The price gains in crude oil benchmarks were […]

Dollar Regains Ground as Coronavirus Spreads Globally

Dollar trims annual gains in low volatility year, more action seen in 2020

By Ritu, Capital Sands The dollar was on the defensive on Monday in light year-end trading after suffering a setback the previous session, as hopes of a U.S.-China trade deal lifted investors’ risk appetite, sapping safe-haven demand for the greenback. The dollar index was stable at 96.942 against six major currencies after sliding 0.6% on Friday for its biggest single day percentage […]

Oil hits three-month highs as strong U.S. consumer spending underpins growth hopes

By Ritu, Capital Sands Oil prices rose on Friday, hitting three-month highs after data showed record online spending by U.S. consumers, stoking faith in the world’s no. 1 economy even before the hoped-for end to the trade war between Washington and Beijing. Brent crude futures were up 6 cents, or 0.1%, at $67.98 a barrel , after rising to as […]

Trade optimism puts floor on dollar/yen, boosts Aussie

By Ritu, Capital Sands The dollar hovered near a six-month high versus the Japanese yen while the Australian dollar climbed to its strongest since July on Friday, buoyed by easing Sino-U.S. trade tensions. The optimism around prospects for a trade deal reduced demand for safe-haven currencies such as the yen, but with global currency markets in a holiday mood after […]

Oil majors slash 2020 spending by 20% after prices slump

Oil climbs, lifted by U.S.-China trade deal hopes, OPEC cuts

By Ritu, Capital Sands Oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-U.S. trade war and OPEC-led efforts to constrain supply, although trading was quiet as many markets were in holiday mode. Brent crude was up 28 cents, or 0.4%, at $67.48 a barrel by 0651 GMT. West Texas Intermediate was up 25 cents, also a […]

5 Things to Watch for in Global Markets in 2020

By Ritu,      Capital Sands 1. No end in sight to the U.S.-China struggle for supremacy The trade war between the U.S. and China, which hobbled the world economy almost single-handedly in 2019 is likely to leave deep marks on 2020 too. The International Monetary Fund estimated in October that the tariffs imposed by both sides, and the far-reaching […]

Europe to Edge Lower Despite ECB Support

European shares hover near record high in thin holiday trade

By Ritu, Capital Sands European shares traded near all-time highs on Tuesday in a holiday-shortened week, helped by optimism about the global economic outlook amid progress in U.S.-China trade talks. The pan-European STOXX 600 index was nearly unchanged . Britain’s FTSE 100 fell 0.2% and Spain’s IBEX ) eased 0.4%. France’s CAC  was trading flat, while Germany’s DAX  and Italy’s […]

Cong bigwigs on ‘satyagraha’ against CAA, Jagan says won’t implement NRC

By Ritu, Capital Sands Stating that democracy in India is under threat from the BJP-led government at the Centre, West Bengal Chief Minister Mamata Banerjee wrote to chief ministers and senior leaders belonging to opposition parties urging them to unite and chalk out a plan to “save the country”. As massive anti-Citizenship Amendment Act (CAA) and National Register Citizens (NRC) protests continued […]

European shares rise as investors hope for more stimulus

European shares edge lower ahead of Christmas holiday break

By Ritu, Capital Sands European shares dipped slightly on Monday after nearing a record high in the previous session, as trading thinned ahead of the Christmas and Boxing Day holidays later in the week. The pan-European STOXX 600 index was down 0.1% at 0814 GMT, with the banking sector  leading declines. An improving outlook on the global economy and optimism […]

Battle lines harden over Trump impeachment trial witnesses

By Ritu, Capital Sands The White House on Sunday signaled comfort with plans by Senate Republicans to avoid new witnesses in President Donald Trump’s impeachment trial, while a top Democrat seized on a newly released email on the withholding of U.S. aid to Ukraine to press his case for testimony. The Democratic-led House of Representatives approved two impeachment charges against […]

Europe to Edge Lower Despite ECB Support

China says bilateral relationship with U.S. has experienced serious difficulties

By Ritu, Capital Sands China said Friday its relationship with the United States had experienced serious difficulties, but they should work in accordance with the consensus reached by the two countries’ leaders to push forward a stable bilateral relationship. Chinese Vice Foreign Minister Le Yucheng made the comment at a meeting with the U.S. special envoy for North Korea, Stephen […]

European stocks grind higher in pre-holiday trading

By Ritu, Capital Sands European shares edged higher on Thursday, with a pre-holiday lull making for a quiet trading session aside from a handful of corporate updates. The pan-European STOXX 600 rose 0.2% by 0821 GMT, with media, healthcare and utilities sectors leading gains. All eyes will turn to the Bank of England’s monetary policy decision, one of the last big […]

In historic moment, U.S. House impeaches Donald Trump for abuse of power

By Ritu, Capital Sands. Donald Trump became the third U.S. president to be impeached on Wednesday, as the House of Representatives formally charged him with abuse of power in a historic step that will inflame partisan tensions across a deeply divided America. The Democratic-led House passed the abuse of power article of impeachment on a largely party-line 230-197 vote. The […]

Stocks Fluctuate Treasuries Edge Up; Pound Slips: Markets Wrap

By Ritu, Capital Sands European stocks edged higher on Wednesday while U.S. equity futures fluctuated and Asian shares were mixed. Bonds also nudged upward while the pound extended its decline. The Stoxx Europe 600 Index traded slightly higher as most national benchmarks in the region were in the green. Luxury TV and stereo maker Bang & Olufsen plunged after issuing its fourth […]

Japan to trim annual government bond issuance next fiscal year – sources

By Ritu, Capital Sands Japan plans to trim government bond issuance by 0.5% next fiscal year from current year’s levels, government officials said on Wednesday, as Prime Minister Shinzo Abe walks a fine line between supporting an economy and reining in huge public debt. The drop would mark the seventh straight year of declines in total debt issuance, despite rising […]

Trump ratings highest ever over economics despite impeachment proceedings

By Ritu, Capital Sands Strong economic figures have helped US President Donald Trump to his highest approval ratings ever, despite impeachment, a new poll found Monday. Although the Quinnipiac University survey said Trump has a high of 43 per cent for his job approval, that is still far below nearly all previous presidents in modern times at the same point in their […]

Oil hovers near three-month high on trade optimism, supply cuts

By Ritu, Capital Sands Oil prices trickled a fraction lower on Tuesday but remained near a three-month high as investors kept the faith with hopes that a fully fledged U.S.-China trade deal is in the pipeline and set to stoke oil demand in the world’s biggest economies. Brent crude oil futures had slipped by three cents to $65.31 a barrel […]

Pound Gains on Brexit Optimism as Focus Shifts to Trade Talks

By Ritu, Capital Sands Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. The pound rallied for a second day amid optimism a speedy resolution to the Brexit deadlock is in store after the Conservative Party’s election victory. Sterling advanced against all its major peers after Chief Secretary to the Treasury Rishi Sunak said […]

Asian Markets Mixed as Lighthizer Says No Date is Set for Phase Two Talks

By Ritu, Capital Sands Asian markets were mixed on Monday morning in Asia as U.S. Trade Representative Robert Lighthizersaid the phase one Sino-U.S. trade deal is “totally done,” but no date is set for the next phase two talks. China’s Shanghai Composite slipped 0.1% by 11:35 PM ET, while the Shenzhen Component gained 0.6%. Hong Kong’s Hang Seng Index dropped 0.3%. […]

Brexit relief for UK economy might not last long

By Ritu, Capital Sands Britain’s economy will cast off some of the Brexit uncertainty that has held it back since 2016 after Prime Minister Boris Johnson’s election triumph, but the risk remains of another “cliff-edge” showdown with Brussels in a year’s time. With Britain’s exit from the European Union on Jan. 31 now a foregone conclusion, the question for investors […]

Sterling sparkles after election poll, yuan up on trade deal reports

By Ritu Capital Sands The pound rose to a three-and-a-half year high versus the euro and the highest in more than a year versus the dollar after exit polls suggested a win for the Conservatives, which should help ensure the UK’s smooth exit from the European Union. The Chinese yuan rose in offshore trade and the Japanese yen fell after a source […]

StockBeat: Dovish Fed, Dominant Tories Push Europe Markets Higher

By Ritu, Capital Sands European stocks found their feet again on Wednesday after the Federal Reserve signalled that it’s likely to remain on hold throughout next year, seemingly convinced that historically low jobless rates won’t create enough inflationary pressure to warrant a rate hike. By 5 AM ET (1000 GMT), the benchmark Stoxx 600 was up 0.3% at 407.50, while the FTSE MIB was […]

Dollar Regains Ground as Coronavirus Spreads Globally

Forex – U.S. Dollar Slips After Fed; Pound Gains Ahead of ECB Meeting, Election

By Ritu, Capital Sands The U.S. dollar index that tracks the greenback against a basket of other currencies slipped 0.1% to 97.035 by 10:02 PM ET. Overnight, the Federal Open Market Committee (FOMC) left its benchmark rate unchanged in the range of 1.5% to 1.75%. “Committee judges that the current stance of monetary policy is appropriate to support sustained expansion […]

Pound slips on UK poll projections, dollar eyes Fed

By Ritu, Capital Sands The British pound slipped early on Wednesday after a poll showed a narrowing lead for Prime Minister Boris Johnson’s Conservative Party in an election later in the week, while U.S. dollar movement looked to the Federal Reserve’s policy meeting. Investors were also focusing on what U.S. President Donald Trump will do with U.S. tariffs on nearly […]

Federal Reserve Interest Rate Decision December 10-11 Preview: Watching for the Projection Materials

By Ritu, Capital Sands No expectation for a change in the fed funds target rate. US economy has strengthened since the October FOMC. Market interest will be on the Fed’s rate and GDP estimates for 2020 and 2021. The Federal Reserve will finish its scheduled two day meeting of the Federal Reserve Open Market Committee (FOMC) on Wednesday December 11th. […]

Stocks Slip While U.S. Futures Drift With Bonds: Markets Wrap

By Ritu, Capital Sands Stocks fell in Europe while U.S. equity-index futures fluctuated in the countdown to major central bank meetings and a deadline on fresh China tariffs. Treasuries and the dollar were steady. The Stoxx Europe 600 Index opened lower for a second day as almost every industry sector traded in the red. Contracts for the main American gauges […]

Dollar steadies as investors brace for key risk events

By Ritu, Capital Sands The dollar and yen held the safe-haven high ground on Tuesday, with investors on edge ahead of a looming tariff deadline, the UK election and upcoming central bank meetings in Europe and the United States. Front of mind is whether Washington will go ahead with a fresh round of tariffs on Sunday, or whether a deal […]

Oil majors slash 2020 spending by 20% after prices slump

Oil prices slip as weak China exports highlight trade war impact

By Ritu, Capital Sands Oil prices fell on Monday after data showed that Chinese exports declined for a fourth straight month, sending shivers through a market already concerned about damage being done to global demand by the Sino-U.S. trade war. Brent futures (LCOc1) were down 21 cents, or 0.3%, at $64.18 per barrel, after gaining about 3% last week on […]

Dollar Regains Ground as Coronavirus Spreads Globally

Dollar bolstered by U.S. jobs data, markets look to trade talks

By Ritu, Capital Sands. The dollar held firm on Monday after data showed surprise strength in the U.S. jobs market, but the currency was restrained from moving higher by worries about an escalation in the U.S.-China trade war. The dollar index stood almost flat at 97.706 in mid-Asian trade, after rising 0.3% on Friday. The euro traded at $1.10575, after hitting […]

Good, Bad and Ugly: Decisive Week May Set Course for Currencies

By Ritu, Capital Sands The next week could set the tone for the $6.6 trillion-a-day currency market in 2020.The geopolitical risks that have shaped foreign exchange this year — Brexit and the U.S.-China trade war — are approaching a critical point, according to Credit Agricole SA. The U.K. will vote for a government on Thursday to negotiate the next phase […]

Dollar Regains Ground as Coronavirus Spreads Globally

Forex – U.S. dollar Unchanged Ahead of Job Report

By Ritu, Capital Sands The U.S. dollar was unchanged on Friday in Asia as traders awaited the release of the latest U.S. job report, which is due at 8:30 AM ET (13:30 GMT). The U.S. dollar index that tracks the greenback against a basket of other currencies was unchanged at 97.380 by 1:30 AM ET (05:30 GMT). Analysts tracked by Investing.com expect […]

Asian Markets Gain Ahead of U.S. Nonfarm Payrolls Data

By Ritu, Capital Sands. Asian markets gained in morning trade on Friday ahead of the release of U.S. nonfarm payrolls data for November due later in the day stateside. China’s Shanghai Composite was little changed by 10:35 PM ET (02:35 GMT), while the Shenzhen Component inched up 0.2%. Japan’s Nikkei 225 rose 0.3% after the country’s Prime Minister Shinzo Abe announced on Thursday evening […]

OPEC and allies prepare to deepen oil output cuts

By Ritu, Capital Sands OPEC and its allies led by Russia were moving closer on Thursday to agreeing to deeper oil supply cuts next year to support crude prices and prevent a glut, sources from OPEC and its allied producers said. The Organization of the Petroleum Exporting Countries (OPEC) meets on Thursday in Vienna followed by a meeting with Russia […]

Asian currencies fueled by new trade optimism

By Ritu, Capital Sands Asian currencies made something of a comeback on Thursday morning in Asia as optimism about a possible trade deal between China and the US returned. The USD was lost a little ground and the Australian dollar stopped a multi-day slide even as the Yuan continued to slide. On Wednesday US President Donald Trump said discussions between China […]

Dollar Regains Ground as Coronavirus Spreads Globally

Forex – Dollar Near 1-Month Lows as Trade War Fears Ramp Up

By Ritu, Capital Sands The U.S. dollar was trading near one-month lows on Wednesday after U.S. President Donald Trump warned a trade deal with China might not come until after the 2020 presidential election and threatened to escalate his trade war with other nations. The U.S. dollar index against a basket of six major currencies was at 97.6 by 03:47 AM […]

Gold Prices Up; Trade Deal Might Come After 2020 Election

By Ritu https://capitalsands.com/ Gold prices were supported by a fresh round of uncertainty of the US-China trade deal on Wednesday morning in Asia. The precious metal still hovered near a three-week high above $1,480. Gold Futures contracts were up 0.06% to trade at $1,485.35 by 11:10 PM ET (04:10 GMT). US President Donald Trump suggested that the long-awaited trade deal might […]

France and EU ready to fight back over U.S. tariff threat, ministers say

By Ritu, Capital Sands France and the European Union are ready to fight back over the latest U.S. tariff threats on French products, French government ministers said on Tuesday. On Monday, the U.S. government said it may impose punitive duties of up to 100% on $2.4 billion of imports from France, including champagne, handbags, cheese and other products, after concluding […]

Gold trades marginally lower, awaiting trade talk cues

By Ritu, Capital Sands Gold traded marginally lower on Tuesday morning in Asia, hovering around the $1,468 range as the U.S. and China are still in talks for ‘deal or no deal.’ Gold Futures contracts traded at $1,467.95 by 10:00 PM ET (03:00 GMT), down 0.09%. Talks of a possible “phase one” deal between the world’s two largest economies dominated the […]

Oil jumps on Chinese factory growth, hopes for deeper OPEC cuts

By Ritu, Capital Sands Oil prices rose more than 1% on Monday as signs of rising manufacturing activity in China pointed to increasing fuel demand and hints that OPEC may deepen output cuts at its meeting this week indicated supply may tighten next year. Brent crude futures rose 74 cents, or 1.2%, to $61.23 a barrel by 0157 GMT. West Texas […]

USD/CHF Technical Analysis: Sellers focused on spinning top near multi-week high

By Ritu, Capital Sands USD/CHF declines after registering a bearish candlestick formation the previous day. Buyers look for sustained trading beyond 1.0000 psychological magnet. 200-day SMA can please sellers during further downside. USD/CHF drops to 0.9985 during the early trading session on Friday. That said, the pair formed a bearish “Spinning Top” candlestick formation while taking a U-turn from 1.0000 round-figure. Considering […]

Yen gains, yuan falls as Hong Kong tensions muddy trade progress

By Ritu, Capital Sands The safe-haven yen rose against the dollar after U.S. President Donald Trump signed into law support for anti-government protesters in Hong Kong, which could complicate efforts to end the U.S.-China trade war. That caused the yuan to fall in offshore trade on mounting worries that months of often violent protest against Chinese rule of the former […]

Asian shares climb on Trump trade deal comments

By Ritu, Capital Sands Asian shares rose on Wednesday as upbeat signals from Sino-U.S. trade talks fanned hopes of an easing of tariff hostilities, while expectations the Federal Reserve will keep interest rates low supported sentiment. The positive mood pushed Wall Street indexes to fresh record closing highs on Tuesday and stoked confidence in Asia with MSCI’s broadest index of […]

Asian shares climb on Trump trade deal comments

By Ritu, Capital Sands Asian shares rose on Wednesday as upbeat signals from Sino-U.S. trade talks fanned hopes of an easing of tariff hostilities, while expectations the Federal Reserve will keep interest rates low supported sentiment. The positive mood pushed Wall Street indexes to fresh record closing highs on Tuesday and stoked confidence in Asia with MSCI’s broadest index of […]

REFILE-FOREX-Dollar hits 1-week high on yen as U.S.-China trade deal hopes rise

By Ritu, Capital Sands. The dollar held an upper hand against the yen on Tuesday as optimism on a trade deal between the United States and China dented the allure of the safe-haven unit while the British pound was supported by hopes of an end to a hung parliament. China’s Global Times, a tabloid run by the ruling Communist Party’s […]

Europe to Edge Lower Despite ECB Support

GLOBAL MARKETS-Asia shares regain footing as mood swings on trade

By Ritu, Capital Sands Asian shares made guarded gains on Monday as investors dared to hope for some progress in the endless Sino-U.S. trade dispute, while the outperformance of recent U.S. economic data gave the dollar a leg up on its peers. MSCI’s broadest index of Asia-Pacific shares outside Japan bounced 0.8%, after losing 0.4% last week. Japan’s Nikkei .N225 firmed 0.9%, […]

Dollar Hits 2-Week Lows as Pandemic Fears Intensify

FOREX-Dollar slips as Chinese comments marginally boost risk appetite

By Ritu, Capital Sands The dollar was marginally down on Friday and risk appetite boosted by statements from China on the need to find a solution to the tit-for-tat tariff war with the United States, raising hopes that a “phase one” deal could be reached. Chinese President Xi Jinping said Beijing wants to work out a deal with Washington and […]

Oil falls from 2-month high as U.S.-China trade doubts dominate

By Ritu, Capital Sands Oil prices were toppled from their highest in nearly two months on Friday by doubts over future demand for crude as uncertainty continues to shroud a potential U.S.-China trade deal, and along with it the health of the global economy. That was more than enough to offset news of a likely extension of production cuts among […]

Trade War Threatens Tech Sectors in China and Silicon Valley

By Ritu, Capital Sands While the U.S-China trade war rages on, the tensions are exposing growing rifts between China and Silicon Valley. Leading venture capitalists and startup founders expressed concern over their governments’ fierce differences and the potential fallout. Among the dangers are a decline in cross-border investment, disruption in the supply chain and decreased collaboration in fields like artificial […]

PRECIOUS-Gold edges up on concerns of delay in U.S.-China trade deal

By Ritu, Capital Sands  Gold prices inched up on Thursday, supported by concerns that U.S. bills on Hong Kong could increase tensions between the United States and China and delay an interim trade deal. Spot gold XAU= rose 0.1% to $1,471.93 per ounce by 0235 GMT. U.S. gold futures GCcv1 were down 0.1% at $1,472.20 per ounce. “The main driver in gold currently is […]

Oil majors slash 2020 spending by 20% after prices slump

Trade friction, oil drive European shares to worst day in six weeks

By Ritu Capital Sands European stocks were on track for their worst day in six weeks on Wednesday, as a threat of U.S.-China trade negotiations hitting an impasse weighed, while a slump in Germany’s Wire-card and falling oil prices added to the gloom. Germany’s DAX .GDAXI , the most trade-sensitive among Europe’s regional indexes, dropped 0.9% by 0929 GMT, while the broader […]

Asia shares trapped in a trade maze, oil nurses losses

By Ritu, Capitals Sands Asian shares stumbled on Wednesday as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply left oil prices nursing their biggest one-day loss in seven weeks. Figures from the American Petroleum Institute out late Tuesday showed a far larger rise in crude stocks than expected. That […]

New UAE law is a way out of debt trap: All you need to know

Insolvency law approved by the UAE Cabinet aims to protect individuals who are in debt. Legal experts have hailed the newly approved insolvency law that will come into effect in 2020 in the UAE, saying it will have a positive impact on the community and will also boost investment competitiveness in the country. The UAE Cabinet approved the new Federal […]