Category «ECONOMIC NEWS»

India’s services activity contracted for fifth straight month in July – PMI

By Administrator_India Capital Sands India’s dominant services industry, a key driver of economic growth, shrank for a fifth straight month in July as restraining measures to stop the spread of the coronavirus hurt business activity and led to record job cuts, a survey showed. India has recorded the third highest number of coronavirus cases globally, …

India, U.S. closing in on trade deal

India, U.S. closing in on trade deal

By Administrator_India Capital Sands India and the United States are closing in on a trade deal, Commerce Minister Piyush Goyal said on Tuesday, after two years of negotiations. India is seeking concessions for generic drugs it exports to the United States in return for opening its dairy markets and slashing tariffs on farm goods as …

Indian stocks to lag rivals as stimulus falls short

Indian stocks to lag rivals as stimulus falls short

By Administrator_India Capital Sands Foreign investors have begun to price in a slower rebound for Indian stocks this year on concerns that the relatively meagre stimulus the government has delivered for businesses and consumers will leave the economy trailing its main rivals. Mumbai’s equity indices have bounced about 43% since crashing to a four-year low …

Indian shares rise on recovery hopes, Nifty set for best quarter in 11 years

Sensex, Nifty gain as HDFC Bank earnings boost financials

By Administrator_India Capital Sands Indian shares rose on Tuesday, with the benchmark index set for its best quarter since 2009, as upbeat U.S. and China data renewed economic recovery hopes, while investors awaited Prime Minister Narendra Modi’s speech later in the day. The Nifty rose 0.74% to 10,389.05 by 0351 GMT, while the Sensex was …

India’s election-bound Bihar state records nearly double national jobless rate

India's election-bound Bihar state records nearly double national jobless rate

By Administrator_India Capital Sands India’s eastern Bihar state, one of the country’s largest and poorest states, posted a steep rise in unemployment in the year ended June 2019 to record nearly double the national jobless rate, only months out from elections. The latest state unemployment data released on Tuesday is a lagging indicator and the …

Indians pawn gold for loans as borrowing from banks becomes tougher

Umesh Patil, a farmer in western India, pawned 40 grams of gold jewellery to raise 130,000 rupees ($1,723.11) to buy supplies needed to plant his........

By Administrator_India Capital Sands Umesh Patil, a farmer in western India, pawned 40 grams of gold jewellery to raise 130,000 rupees ($1,723.11) to buy supplies needed to plant his next crop. Many Indians are using gold to secure loans, bankers and industry experts say, as banks are otherwise increasingly unwilling to lend during the coronavirus …

COVID-19 magnifies challenges to business in China -European business group

The COVID-19 epidemic has exacerbated already worrisome trends to doing business in China amid slowing revenue growth, regulatory obstacles and the clout...

By Administrator_India Capital Sands The COVID-19 epidemic has exacerbated already worrisome trends to doing business in China amid slowing revenue growth, regulatory obstacles and the clout of the state-owned sector, a European business group said on Wednesday. Only half of European companies surveyed said that their mainland China revenues last year increased by 5% or …

China FDI to Australia more than halved in 2019, to remain subdued this year, study says

China FDI to Australia more than halved in 2019, to remain subdued this year, study says

By Administrator_India Capital Sands Chinese investment to Australia more than halved in 2019 and it would continue to fall this year due to the coronavirus outbreak and negative perceptions around government screenings of such inflows, says a report by KPMG and the University of Sydney. The number of deals fell 43% to 42 for the …

India’s 2018/19 jobless rate declines to 5.8%

India's 2018/19 jobless rate declines to 5.8%

By Administrator_India Capital Sands India’s unemployment rate during July 2018-June 2019 period declined to 5.8% from 6.1% during a year-earlier period, a government report released on Thursday said. Joblessness among the youth – those aged between 15-29 years and who account for roughly over a third of India’s 1.3 billion people – marginally declined to …