The Iranian central bank has set the official dollar-to-riyal rate to 24,779. Iran's central bank has listed on its website on Saturday the new price of a dollar.
Finance/Venture
A. Schulman withdraws bid for Ferro, shares nose dive
A. Schulman Inc dropped its bid for Ferro worth US$563 million after being ignored for months. A. Schulman Inc, a chemical producer, announced that it withdrew its bid for Ferro Corp.
Andhra Pradesh-UK investment ties strengthened
In a meeting between British investors and state officials, opportunities for investments in Andhra Pradesh were discussed.
Japanese government bond rises, 30-year debt auction considered
The benchmark Japanese government bond prices climbed which resulted to a proposed auction of a 30-year debt.
Bond yield spike means 'prepare' - Investors
Investors said that the bond yield spike brought about by new jobs are signals to prepare their portfolios.
Latest News
The Indian state of Punjab announced its open post for consultants. In accordance to a recent announcement by the Punjab government regarding industrial policy, new measures were being formalized to create land bank for the industry.
US municipal bond fund drop according to Lipper. According to Thomson Reuters' Lipper, the four-week moving average of US municipal bond funds remained negative at US$2.
Small banks cheered as US authorities drafts tough rules for Wall Street. After a vote, the Federal Reserve Bank decided in favor of the US version of global Basel III capital rules.
US investment industry continued to resolve the problems on ethics and costs amidst controversies. An average of US$8 million would be spent by Wall Street's brokerages.
The Investment Company Institute recorded US$28.1 billion withdrawals from bond reserves. Investors in mutual funds headquartered in the United States withdrew US$28.
Valeant Pharmaceuticals and energy sector boost TSX The Toronto Stock Exchange's S&P/TSX composite index, Canada's main stock index, hit 12,217.
Bank of Japan bought US$9.5 billion Japanese government bonds. The Bank of Japan offered to buy Japanase government bonds worth of US$9. 5 billion. The government bonds had residual maturities from 1 to 10 years.
The US$2.25 trillion hedge fund industry continued to be hit by June sell-off because of Fed Chairman's remarks.
Asian stocks were swept up by Europe's rally while Euro continued to sulk. On Friday, Asian stocks increased as Euro tended its losses. This transpired after Europe's two most influential banks assured venture capitalists.
