The Indian currency continued to decline, prompting investors to shy away from investing in the country.
Industry
Obama’s proposal aims to satisfy Republicans and Democrats
US President Barack Obama proposed a plan that would satisfy both Democrats and Republicans alike. On Tuesday, US President Barack Obama proposed a plan called the "grand bargain for middle-class jobs".
Senators ask energy regulators for details of JP Morgan settlement
Two Democratic senators asked FERC chairman Jon Wellinghoff on how the settlement with JPMorgan Ventures Energy Corp was reached.
Industry analysts expect high car sales for July
Analysts in the car industry said they are expecting high car sales for July. As the car industry awaits the sales reports of automakers, analysts said they are expecting a 14% to 16% rise in automobile sales for July.
New rule opens capital potential for venture capitalists
The SEC's new rule on sales of securities will allow starting companies and venture capitalists to gain more funds.
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Reuters reported that China's private businesses could experience succession problem in the next few years.
Chinese regulators urged local importers of Fonterra's products to recall their contaminated items after the dairy maker warned some infant milk and food products contained botulism-causing bacteria.
According to Indonesia's Bureau for Statistics, global demand for the country's assets remained unattractive to foreign investors.
India loosened rules for foreign direct investors on the local retail industry as part of its drive to lure more foreign firms.
The Confederation of Indian Industries said that now is the time when India needs foreign direct investments the most.
Reports said that investments in the Philippines increased by almost 40% after six months. Asia's 'rising economic tiger' posted another increase in local and foreign investments as four major placement agencies approved businesses today.
According to Singapore's GIC, China's credit crunch will have great effects on many economies worldwide.
Thomson & Reuters data revealed 2013 to be a weak year so far for international mergers and acquisitions.
China's PMI showed growth in July, offering hope that the country's economy is recovering.
