Recent Business News
NEW DELHI/MUMBAI Investors may have been shocked when one of India's biggest banks disclosed a $1.77 billion fraud by a billionaire jeweller, but the central bank has recorded data that shows the problem runs far deeper and wider.
DUBAI/KHOBAR, Saudi Arabia Saudi Arabia's cabinet has approved a bankruptcy law, sources familiar with the matter said on Sunday, giving a boost to efforts to make the kingdom more enticing to investors.
NEW DELHI Iran has offered to raise the freight discount on oil sales to India in return for New Delhi agreeing to boost imports, as the OPEC member is keen to eat into the market share of other producers including top rivals Saudi Arabia and Iraq.
TOKYO Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker, is worried that potential U.S. trade action to cut steel imports could flood Asia with products and that the yen's recent surge may hurt customers such as carmakers.
RIGA Latvia's anti-corruption agency has detained central bank Governor Ilmars Rimsevics, prompting calls for him to step aside while he is under investigation.