Business News

Eyes Wide Shut - The USD1.8 Billion PNB Fraud That Went Unnoticed

The branch, clad in a stately colonial edifice, is now also at the heart of a fraud case linked to billionaire jeweller Nirav Modi that has shaken confidence in a state banking sector that accounts for some 70 percent of India's banking assets

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Sembcorp Industries Says To Reorganise India Energy Business

Sembcorp Industries is reporting its financial results on Friday. It is also expected to reveal soon the results of a review of its businesses and strategic direction

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Gold Inches Up On Weaker Dollar, Inflation Outlook

The metal rose 2.4 percent last week in its best weekly gain since the week ended Sept. 1

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Eyes Wide Shut: The $1.8 Billion PNB Fraud That Went Unnoticed

The bank says it is still investigating how they were able to do so and go undetected for so long. The accounts given by current and former executives who spoke to Reuters suggest an answer as simple as it is alarming: no one was paying attention

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Sensex Slips Below 34000 Level, Down 131 Points In Early Trade

The Nifty50 index also fell 47.40 points, or 0.45 per cent, at 10,404.90. Brokers said investors trimmed positions on distinctly weak sentiment since the detection of a massive Rs 11,400-crore fraud at state-run Punjab National Bank

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