In order to manage a currency crisis, selling off foreign currency to mop up local currency averts a long term crisis.
Sectors
Naspers discuss US$1 billion bond sale
Naspers announced that they are considering the sale of US$1 billion bonds to fund acquisitions Naspers Ltd. announced that they are considering selling as much as US$1 billion in debt to fund acquisitions.
SEC lifts longtime advertising ban for hedge funds
Last Wednesday, US regulators lifted a long time ban on advertising by hedge funds and other firms. On Wednesday, US regulators lifted an 80 year old ban on advertising by hedge funds, private equity firms and other companies.
Biomass Secure Power Inc announces negotiation agreement with NPPC
Biomass Secure Power Inc entered an exclusive negotiation agreement with the Natchitoches Parish Port Commission
Ceasars soars 13% on internet-based gambling spinoff
Ceasars rose 13% due to web-based gambling optimism. The largest owner of U. S. casinos, Caesars Entertainment Corp. , increased its value by 13% after implementing its plans to provide stocks worth around US$1.
Latest News
The People's Bank of China has released notice to require banks and companies to use the yuan in their international transactions.
Tivli gets financing from venture capitalists amounting to US $3.6 million. Tivli, which offers on-demand and streaming TV content to college campuses, today said it closed $6.
Saïd Business School Seed Fund invests in ACE and Onfido, both of which were established by Oxford alumni.
Boulder Brand acquires 80% of Level Life in a bid to expand as it continues product expansion. Boulder Brands, Inc. has acquired 80% of the shares of Gluco Brands LCC, which owns Level Life Foods.
The digital company gets a boost via a US $250,000 capital infusion. 7signal, maker of the Sapphire wireless LAN performance optimization solution, received a much needed boost after the US $250,000 infusion by the non-profit organization, JumpStart.
Yottaa secures US $16 million deal to finance expansion projects in Boston and Beijing. Yottaa, developer of performance automation service, announced that it raised another US $16 million in its latest financing round after the commitment of new investor, Intel Capital.
Revolutionary grocery delivery business gets US $8.5 million of series A financing to make its presence felt across the US.
The Chicago-based media company is set to spit its ventures just months after undergoing financial restructuring.
Western Digital acquired data storage solutions firm VeloBit. Western Digital Content, a digital storage provider, announced today that it bought software storage solutions provider VeloBit.
