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Explained: Why has the U.S. accused China of deliberately weakening the yuan?

Posted on Author NewsDesk

The story so far: On Monday, the United States designated China as a “currency manipulator”. The move came immediately after the People’s Bank of China (PBoC), the Chinese central bank, let the yuan weaken past the psychologically significant CNY7 (CNY or the yuan is the basic unit of the renminbi, China’s official currency) to the […]
Business Economy

Going abroad for studies? Here’s why you must buy student travel insurance

Posted on Author NewsDesk

There was a time when only a few students could make their way to international universities for higher studies. However, this has changed drastically in the last few years with a significant increase in the number of Indian students enrolled in foreign universities. As per a recent Reserve Bank of India (RBI) report, the total […]
Business Economy

PMC’s suspended MD says auditors did ‘superficial’ job

Posted on Author NewsDesk

The suspended managing director of Punjab and Maharashtra Cooperative (PMC) Bank, Joy Thomas, has blamed the auditors for the mess at the bank, accusing them of only “superficially auditing” the books of the now crippled lender due to “time constraints.” In a five-page letter to the Reserve Bank of India (RBI) dated September 21 after […]

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