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.
Sectors
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.
Dell Buyout Will Not Push Through
Dell buyout will not push through at US$24.4 billion. The deal to buyout Dell Inc. would not push through. According to people who had direct knowledge of the deal, Silver Lake Management LLC and Michael Dell would not be closing a buyout deal for the offer of US$24.
Latest News
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.
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.
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.
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.
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.
