By Ritu, Capital Sands The Phase 1 trade deal between China and the United States will benefit for both countries and the world, the Chinese foreign ministry said on Tuesday after being asked whether China is considering renegotiating the deal. Chinese foreign ministry spokesman Zhao Lijian told reporters during a daily briefing that both countries …
By Ritu, Capital Sands Italian industrial output plummeted 28.4% in March from the previous month, more than expected and the steepest drop on record, as a lockdown imposed to contain the coronavirus pandemic shuttered most businesses. The fall in output was larger than any of the 18 forecasts in a Reuters survey of analysts which …
By Ritu, Capital Sands The impact of the coronavirus outbreak will exacerbate the material slowdown in India’s economic growth, with the country expected to see 0% expansion in the current fiscal year, analysts at Moody’s said on Friday. The ratings agency said it expected India to see no growth in financial year 2021 and bounce …
By Ritu, Capital Sands India’s services activity suffered a shock collapse in April as the coronavirus lockdown crippled global demand, causing a historic spike in layoffs and reinforcing fears of a deep recession in Asia’s third-largest economy, a private survey showed. The grim result for the industry, the engine of economic growth and jobs, underlined …
By Ritu, Capital Sands Officials in India’s capital imposed a special tax of 70% on retail liquor purchases from Tuesday, to deter large gatherings at stores as authorities ease a six-week lockdown imposed to slow the spread of the coronavirus. Taxes on alcohol are a key contributor to the revenue of many of India’s 36 …
By Ritu, Capital Sands Prime Minister Boris Johnson said on Thursday Britain was now past the peak of its coronavirus outbreak and promised to set out a plan next week on how the country might start gradually returning to normal life. In his first news conference since recovering from a serious case of COVID-19, Johnson …
By Ritu, Capital Sands The Euro zone economy contracted at a record rate and by more than expected in the first three months of the year and inflation slowed sharply as much economic activity in March came to a halt because of the COVID-19 pandemic, data showed on Thursday. According to a preliminary flash estimate …
By Ritu, Capital Sands Prime Minister Shinzo Abe said on Wednesday that the Tokyo Olympics could not take place next year unless the coronavirus pandemic is contained, as the city’s governor requested an extension of Japan’s state of emergency. The International Olympic Committee and the Japanese government last month postponed the Games until July 2021 …
By Ritu, Capital Sands Softbank Group-backed OYO Hotels and Homes has cut the salaries of all employees by 25% for four months starting April and also sent some of its people on leave with limited benefits, according to an internal memo seen by Reuters. The move comes soon after OYO furloughed thousands of its international …
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 …
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