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Insight: Billion dollar diamond fraud case puts India's state banks in focus

By Krishna N. Das, Aditya Kalra, Devidutta Tripathy and Tom Lasseter

Recent Business News

Exclusive: Unpublished data shows India's fraud problems extend far beyond PNB

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.

Top News, 16 Feb 2018

In boost to reform, Saudi Arabia's cabinet approves bankruptcy law

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.

World, 18 Feb 2018

Iran deepens freight discount to boost oil sales to India - sources

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.

18 Feb 2018

Interview: Nippon Steel worries about U.S. trade action, yen's surge

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.

Economy, Japan 18 Feb 2018

Latvia central bank chief held by anti-corruption agency, urged to step aside

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.

18 Feb 2018


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