Monday, October 26, 1998
Vajpayee's remark on errant promoters turns the spotlight on Sebi's powers
The prime minister's statement that he has asked the finance ministry to take action against unscrupulous promoters who have deserted investors after mopping up funds from them, is set to kick off yet another debate on whether SEBI is empowered to take action against such companies.
Gold glitters again as prices register a turnaround in second half
SAMVAT 2054 was comparitively better for the yellow metal. Although the metal could not regain its past glory, it did manage to reduce the pace of fall witnessed last year and to some extent stabilise. While the first half of 2054 saw prices falling in the domestic market, the second half witnessed a smart recovery.
China not to open up its gold market
China, the world's third largest consumer of gold after India and the US, will not open up its booming market for fear of manipulation of its currency exchange rates. China has long stressed the value of gold as a fiscal reserve, so it will not open up the market for fear that speculation in gold trading will affect its currency exchange rates.
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