By Administrator_India Capital Sands The Bank of England slashed interest rates by half a percentage point on Wednesday and announced support for bank lending just hours before the unveiling of a budget splurge designed to stave off a recession triggered by the coronavirus outbreak. In what amounts to a choreographed double-barrelled stimulus programme, the BoE […]
By Administrator_India Capital Sands As U.S. coronavirus cases rose steadily, the White House and Congress negotiated measures on Tuesday to bolster the U.S. economy and Americans’ paychecks against the outbreak’s impact, although there was no immediate sign of a deal. The rise in the number of U.S. cases of COVID-19, a highly contagious and sometimes […]
By Administrator_India Capital Sands India’s retail inflation likely cooled from recent highs to a three month low in February, due to moderating food prices, but remained above the Reserve Bank of India’s target band, a Reuters poll of economists found. Inflation eased to 6.80%, significantly lower than January’s 7.59%, according to the March 4-6 poll […]
By Ritu, Capital Sands Crude oil futures plummeted on Friday as Russia reportedly refused to support the Organization of Petroleum Exporting Countries’ proposal to cut crude output by an additional 1.5 million barrels a day. OPEC had agreed its proposal on Thursday, desperate to bring the global oil market back into balance. Demand has fallen through […]
By Administrator_India Capital Sands The board of India’ top lender, State Bank of India, agreed on Thursday to conduct a viability assessment into buying a stake in troubled private sector Yes Bank Ltd. Yes Bank shares surged more than 25% after reports emerged that a group led by SBI will inject capital into the bank. […]
By Ritu Capital Sands The Supreme Court on March 4 allowed banks and financial institutions from providing services related to cryptocurrencies by setting aside the Reserve Bank of India’s 2018 circular which had prohibited them. The order is likely to come as a big relief to virtual currency (VC) proponents in the country. Cryptocurrencies are digital […]
By Administrator_India Capital Sands Oil prices rose more than 1% on Thursday, recouping losses from the previous day on a smaller-than-expected rise in crude oil inventories in the United States, although the gains were capped by uncertainties over cuts by major oil producers. Brent crude rose by 78 cents, or 1.5%, to $51.91 per barrel, […]
By Administrator_India, Capital Sands The Reserve Bank of India (RBI) is considering using unconventional policy tools to spur lending, three government officials told Reuters, amid fears that the coronavirus outbreak will derail any revival of economic growth. RBI is planning to infuse fresh cash liquidity into the system through a second round of long-term repo […]
By Administrator_India Capital Sands Gold prices rose on Wednesday, after surging more than 3% in the previous session as the U.S. Federal Reserve cut interest rates to help soften the economic blow from the coronavirus outbreak. Spot gold climbed 0.3% to $1,644.97 an ounce, having registered its biggest one-day percentage gain since 2016 in the […]
By Ritu, Capital Sands India stocks were higher after the close on Tuesday, as gains in the Metals, Power and Healthcare sectors led shares higher. At the close in NSE, the Nifty 50 rose 1.53%, while the BSE Sensex 30 index climbed 1.26%. The best performers of the session on the Nifty 50 were Vedanta Ltd , which rose 7.75% or 8.60 points to trade […]
