The People's Bank of China cut its daily reference rate for the currency by a record 1.9 per cent, the biggest loss since January 1994.
Both banks and jewelers sell coins and bars, but it is generally costlier to buy it from a bank
'Lakhs of engineers graduate every year in India and the IT industry used to be the primary recruiter. That is going to end.'
It is a wonder how pervasive and long-lasting the damage can be from a balance-sheet crisis, says Suman Bery.
In its first overseas acquisition after parting ways with Honda, country's largest two-wheeler maker Hero MotoCorp (HMC) on Monday said it has picked up 49.2 per cent stake in US-based high-end motorcycle maker Erik Buell Racing (EBR) for $ 25 million (about Rs 148 crore).
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