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.
Investors
Asian stocks wary while ECB, U.S. job reports loom
Asian stock became cautious while the European Central Bank held a summit and US payrolls report loomed.
Kenyan airline venture scores 7 year extension
A joint venture between Kenya Airways and KLM Royal Dutch Airline was granted 7 more years to operate.
It’s Official: 1 Dollar Equals 24,779 Riyals, Says Iran Central Bank
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.
Punjab looking for consultant
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.
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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.
Asian chipmakers were expected to earn more due to the increasing demand for gadgets. Asian chipmakers were set to take advantage on a major change in the unstable industry.
Pakistan's prime minister Nawaz Sharif told Chinese investors to invest in the country's energy sector.
Seven FDIs were approved by the Indian investment board. Seven Foreign Direct Investments of FDIs were approved by the Foreign Investment Promotion Board of India for ventures in local pharmaceutical firms.
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.
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.
