Asian stock became cautious while the European Central Bank held a summit and US payrolls report loomed.

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.

Representatives from several Chinese firms defended their unpopular mega projects in Myanmar. In a press conference held in Rangoon, Myanmar yesterday, the Embassy of China and several representatives of Chinese state-owned companies issued a statement regarding the mega projects being developed in the country.

The Reserve Bank of India announced new guidelines regarding the 'ownership' and 'control' of FDIs in the country.

Pakistan's prime minister Nawaz Sharif told Chinese investors to invest in the country's energy sector.

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.

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.

Developing countries are in a bind with high yield returns for bonds Developing countries are finding themselves in market situations that are leaving them high and dry.