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Kotak Mahindra Bank joins race for Lakshmi Vilas Bank

By Administrator_India Capital Sands Billionaire Uday Kotak-led Kotak Mahindra Bank is keen to play the white knight and rescue the fund-starved Chennai-based Lakshmi Vilas Bank (LVB) as part of a proposed transaction under the supervision of the Reserve Bank of India (RBI), multiple sources have told Moneycontrol. “Kotak Mahindra Bank is a late entrant in the race for Lakshmi …

Dow Plunges 1,190 Points in Brutal Virus Selling
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Dow Plunges 1,190 Points in Brutal Virus Selling

By  Administrator_India, Capital Sands Stocks plunged in late selling Thursday as fears of a global pandemic intensified. The S&P is on pace for its worst weekly loss since the Financial Crisis as investors feared a jump in coronavirus infections in the U.S. could derail economic growth. The S&P 500 closed down. 4.4%, The Dow Jones Industrial Average was down …

Sensex, Nifty rise for fifth session, auto stocks shine
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Nifty, Sensex inch higher, no big support from Trump visit

By Ritu, Capital Sands Indian shares were slightly higher on Tuesday as Asian markets steadied after a steep sell-off a day earlier, while U.S. President Donald Trump’s two-day visit failed to boost sentiment. The broader NSE Nifty 50 index .NSEI was up 0.2% at 11,854 as of 0403 GMT, while the benchmark S&P BSE Sensex .BSESN also rose 0.2% …

Protests in New Delhi against India's citizenship law ahead of Trump visit
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Protests in New Delhi against India’s citizenship law ahead of Trump visit

By Administrator_India, Capital Sands Police used tear gas to disperse large crowds in India’s capital of New Delhi on Sunday in the latest eruption of violence at protests over a new citizenship law, police officials said. Hundreds of people supporting the new law clashed with those opposing it, with the two groups pelting each other …

China cuts benchmark lending rate to prop up virus-hit economy
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China cuts benchmark lending rate to prop up virus-hit economy

By  Administrator_India, Capital Sands China cut the benchmark lending rate on Thursday, as widely expected, as the authorities move to lower financing costs for businesses and support an economy jolted by a severe coronavirus outbreak. The epidemic has disrupted global supply chains and caused widespread disruption to businesses and factory activity in China, prompting authorities …

India may give reprieve to solar projects delayed by coronavirus fallout
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India may give reprieve to solar projects delayed by coronavirus fallout

By  Administrator_India, Capital Sands India will consider extending deadlines for completing solar energy projects to shield developers from stiff penalties after the coronavirus outbreak hit component supplies from China, a top government official said on Tuesday. Ratings agency Standard and Poor’s Indian unit, Crisil, warned on Monday that nearly three gigawatts of solar power projects …

Dollar Gains on Virus Worries; Sterling Shows Strength
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Dollar Gains on Virus Worries; Sterling Shows Strength

By Ritu, Capital Sands The return of risk aversion to the financial markets Tuesday has prompted more gains for the U.S. dollar, amid concerns about the extent of the damage caused by the coronavirus in China, but sterling is also showing signs of strength. EUR/USD traded at 1.0836, just off the low of 1.0823, the lowest …

India's use of facial recognition tech during protests causes stir
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India’s use of facial recognition tech during protests causes stir

By  Administrator_India, Capital Sands When artist Rachita Taneja heads out to protest in New Delhi, she covers her face with a pollution mask, a hoodie or a scarf to reduce the risk of being identified by police facial recognition software. Police in the Indian capital and the northern state of Uttar Pradesh – both hotbeds …

Oil Prices Steady As Coronavirus-Related Demand Concerns Weigh
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Oil prices steady as coronavirus-related demand concerns weigh

By Ritu, Capital Sands Oil prices were little changed on Monday as concerns of falling fuel demand caused by the economic fallout from the coronavirus outbreak in China were offset by expectations that output cuts from major producers will tighten crude supply. U.S. West Texas Intermediate crude  rose 3 cents to $52.08 a barrel, after …