BUCHAREST / AP Romania’s government is on a high-risk mission: devise a legal and politically acceptable way to remove penalties for some types of official corruption. First, the government tried to effect the change by imposing an emergency decree without public debate. The move backfired badly, sparking massive demonstrations in the capital of Bucharest and other major cities that …

  Bloomberg China’s central bank refrained from offering reverse-repurchase agreements for the third day in a row, which resulted in a net withdrawal of funds from the financial system. The People’s Bank of China didn’t carry out the open-market operation because it aims to keep liquidity basically stable, and current levels are relatively high, according to a statement posted on …

  Bloomberg Indian Bank, a century-old state-owned lender based in the country’s south, has emerged as Asia’s top-performing bank stock in the past year, driven by a focus on consumer loans that are less likely to sour than corporate advances. The Chennai-based firm is aiming to boost retail lending, which includes mortgages and loans underpinned by gold as collateral, to …