Tehran: The Iranian rial has dropped to a record low against the US dollar after it plunged more than 7 percent in open-market trade on Monday and is being traded at 32,250 per dollar.
MADRID: Spain may seek a sovereign bailout within days, financial analysts predicted Monday, after the eurozone’s fourth-largest economy revealed a soaring debt outlook.
Geneva: Airline profits are set to be healthier than initially forecast for 2012 but the industry is balanced on a “knife-edge”, the International Air Transport Association (IATA) announced Monday.
Brussels: Jobless numbers shot up to a record 18.2 million in the eurozone in August, official data showed Monday after a sharp revision to earlier figures highlighted the damage caused by the debt crisis.
Tokyo: Japan’s Nippon Steel and rival Sumitomo Metal Industries formally merged on Monday, creating the world’s second largest steelmaker amid intensifying global competition.
Tokyo: Japanese manufacturers are increasingly nervous, a major business survey showed on Monday, as sagging demand at home and abroad is compounded by fears over the effects of a nasty territorial spat with China.
Karachi: After continuous increase in petrol and Compressed Natural Gas (CNG) prices from two weeks, the government of Pakistan has finally provided relief to the people of Pakistan, reducing Rs 6 on petrol and Rs 5 on CNG.
Brussels: France and Germany are bidding to revive a controversial financial transactions tax (FTT), seeking support from the European Commission and enough EU partners to start the tax in a core group.
Beijing : China’s manufacturing activity shrank for an 11th straight month in September, HSBC said Saturday, adding to pressure on Beijing to provide fresh stimulus to boost the world’s second largest economy.
Madrid: Spain announced Friday its stricken banks need 59 billion ($76 billion) to fix their balance sheets, but said the final sum required from the eurozone may be much lower.