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China's factory sector grew in October but at a pace that was slightly slower than expected, underlining the challenges facing the sector as manufacturers fight rising costs and softening demand in a cooling economy.The official Purchasing Managers' Index (PMI) eased to 50.8 in October from September's 51.1, but above the 50-point level that separates growth from contraction on a monthly basis.Analysts ...
The former top managers of Monte dei Paschi di Siena were sentenced to three-and-a-half years in jail on Friday over a 2009 derivatives scandal from which the bank is still struggling to recover.Former Chairman Giuseppe Mussari, former Chief Executive Antonio Vigni and former finance chief Gianluca Baldassari were all found guilty of misleading regulators over risky derivative trades meant to conceal ...
With gold imports on the rise again, officials of the revenue department and other government agencies feel the 80:20 scheme, wherein out of every 100 units imported, 20 units have to be exported, should be revamped. Several cases unearthed by agencies reveal that the scheme is being grossly misused by traders. Sources said the government is considering whether to do away with the scheme and fix a ...
Gold hit a four-year low on Friday owing to selling pressure from wary investors as indications of US economic growth revived the hopes for a rise in interest rates sooner than expected'. Amid indications of a recovery in the US economy, which was supported by the US Fed's move to withdraw its stimulus programme known as quantitative easing (QE) completely, traders offloaded their stocks. Gold fell ...
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