In order to manage a currency crisis, selling off foreign currency to mop up local currency averts a long term crisis.
Industry
Prometheus Group completes minority recapitalization deal with TA Associates
Enterprise application software company secures minority recapitalization from TA Associates but the deal's details were not released.
WineDirect-Vin65 and VinTank merges to combine social media and commerce
WineDirect and Vintank would merge to increase revenues through social media and commerce. Vin65, a firm of WineDirect, and Vintank formed an exclusive alliance to connect the social media data of wine industry with the ecommerce records of their clients.
Palatine gets GBP 150million financing
Palatine secures GBP 150 million funding after the close of its second fund. Manchester-based Palatine Private Equity secured funding amounting to GBP 150 million, 55% of which were commitments from overseas investors at the close of its second fund.
Kenya to introduce derivatives.
Kenya stated plans to introduce derivatives into its market. Following Kenya's equity trading volume decline in its stock exchange, which is also the region's largest, Kenya announced plans to introduce real estate investment trusts and derivatives, Kenya's financial-markets regulator said.
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The People's Bank of China has released notice to require banks and companies to use the yuan in their international transactions.
The Chicago-based media company is set to spit its ventures just months after undergoing financial restructuring.
Investors retracted US$13.9 billion from equity mutual funds invested in Brazil, Russia, India and China.
According to the third quarter BCI Index, investors in Nigeria are becoming more confident. Business confidence levels in the Nigerian market is steadily improving, said the Lagos Chamber of Commerce and Industry, the premiere chamber of commerce in the African nation.
According to ProNicaragua, the country's FDI were more than doubled in a span of two years. According to Nicaraguan investment promotion firm ProNicaragua, the country experienced a large boost in foreign direct investments last year, putting the South American nation in the international investment spotlight.
According to the Central Bank of the Philippines, foreign direct investments in the country leaped in April.
The Indian Telecom Ministry will release guidelines for mergers and acquisitions by the end of the month.
Fiat and Peugeot entered into a US$900-million agreement to improve delivery van models. To cut costs in ageing delivery van models, Fiat SpA and PSA Peugeot Citroen has released its plans to invest more than EUR700 million (US$900 million) on new delivery van models over the next five years.
Kenya's stock exchange, plans to introduce derivatives and real estate investment trusts after equity trading volumes declines
