Although the PBOC has said it sees no need for further falls in the yuan, markets expect the currency to decline more over the coming year to reflect a faltering economy.
LIMA: Finance ministers from the world's leading economies gave the green light on Friday to a new plan to crack down on tax evasion by multi-national corporations which costs countries at least $100 billion a year.
Miners have been propelled to their biggest gains for six years as Glencore slashed zinc production by a third and the bond giant Pimco called the end of the rout in global commodity prices.
With India's growth rate projected to drop slightly from 7.5 per cent to 7.3 per cent in 2015, the IMF today recommended the country to launch next phase of economic reforms and improve its business climate for achieving faster and more inclusive growth.
Ferrari's stock market flotation is expected to raise as much as $900m, valuing the Italian car maker at $9.92bn. The US IPO of 17.2m shares - at the planned price range of $48 to $52 per share - is roughly 9pc of parent company Fiat Chrysler ...