BMW is appealing a decision to impose a EUR150 million fine for alleged customs laws violations. German car giant BMW is set to face fines worth EUR100 million in India for allegations of violations committed against the country's importation rules.

Brazil, Russia, India, China and South Africa have all agreed to create a USD100 billion fund as buffer for financial shocks.

South African financial services group Sanlam said it was scouring Southeast Asia to invest in a life insurer.

Raghuran Rajan, the newly appointed bank governor of India's central bank would step into office in the eye of a roiling storm in the country's economy.

The mining industry would suffer further degrowth without changes in policy and structure. Many experts have called out to the government that the mining and quarrying industry would most likely suffer more as it contracts by 2.

The Federal Reserve Bank of India said that it would not convert idle gold into bullion. India's central bank said it does not plan to convert the country's idle gold to bullion.

According to a top Indian government official, Walmart's plans of getting into the country's multi-brand segment could be at its final stage.

Merger and acquisition deals in India had slowed down after fears on US and UK anti-bribery laws threatened investment.

A second financial crisis was predicted to hit Asia in the next 12 to 18 months that originated from the US after its Federal Reserve announced stimulus reduction.

Blackberry, the leading mobile device in India, had announced selling its global operations unit but would remain business as usual to ease fears of Indian users.