Iran’s central bank announced the 8.5% depreciation of Rial

Iran Central Bank on Thursday (January 26) announced that the Iranian Rial devaluation of 8.5%, said it would implement a single currency, to combat illegal trade. Europe and the United States to impose new sanctions on Iran measures, the market worries about the rise of the Rial, resulting in the black market dollar price rose.

Iran’s central bank governor Mahmoud Bahmani said in a speech: “I declare, Rial against the U.S. dollar exchange rate of 12,260:1. The new rates from Saturday (January 28) come into effect, all banking transactions will be Under the new rate settlement. “

site is currently the central bank reference rate published by the level of 12,296:1.


Although the official exchange rate Rial

down, but still well below the new exchange rate and foreign exchange swap transaction price point.

article:

Iran deposit rate is raised substantially from 13% 21%

currency for the first time fell below the 20,000 Iranian rials per U.S. dollar fell 10.5%

Iran said “no worries” and no place to sell oil

IMF: Iran oil embargo oil prices can lead to $ 140

Iranian oil embargo by the EU to freeze Iranian assets in the European Central Bank


South Korea’s economic growth in 2011 a two-year low

Korean central bank data released on 26 May, 2011, South Korean gross domestic product (GDP) grew 3.6%, the growth rate hit the lowest since 2009, lower than the central bank had expected growth of 3.8%.

data show that South Korea last year, manufacturing output increased 7.1% over the previous year, service sector output grew 2.6%, but output fell by 1.0% agriculture, forestry, fisheries, construction output decreased 5.6 percent.

data also show that the fourth quarter of last year, Korea’s GDP grew 3.4%, growth of 0.4%.

Bank of Korea official said, the European debt crisis and other negative factors dragging down the global economy last year, Korea’s economic growth, especially in the fourth quarter of last year, South Korea’s economic growth slowed down significantly. Meanwhile, private consumption and investment in equipment to reduce the construction industry downturn, has led to lower than expected economic growth in South Korea last year.

Senate agreed to increase the debt ceiling $ 1.2 trillion

26 vote the Senate passed President Obama’s U.S. federal government’s public debt will increase $ 1.2 trillion cap requirements, that the U.S. federal government living beyond the situation will continue.

Obama 12 request to Congress, the federal government’s public debt ceiling increase $ 1.2 trillion of the U.S. federal government because it was the total debt from $ 15.2 trillion of public debt ceiling of less than $ 100 billion.


according to Democratic and Republican parties reached an agreement last summer, lawmakers have 15 days to the President’s call for a vote. Republican-led U.S. House of Representatives voted against Obama 18 requirements, but Obama can veto against the resolution of Congress to ensure that public debt ceiling increase.

According to the agreement reached last year between the two parties, the U.S. federal government’s public debt ceiling will be about $ 14.3 trillion in the original basis by at least $ 2.1 trillion in three steps. Congress twice last year, the debt ceiling will be increased by $ 400 billion and $ 500 billion, with the further increase of public debt ceiling $ 1.2 trillion since July last year, the U.S. federal government’s public debt ceiling will increase total $ 2.1 trillion to about $ 16.4 trillion, the federal government is expected to support operations to the end of this year’s election.



January 27, the international financial headlines

NetEase Financial News, 27 January The following is January 27, the world’s major financial media headlines

“New York Times”: the four major U.S. airlines through asset restructuring efficiency

Despite the global economic situation is poor, but the four major U.S. airlines last year were profitable. U.S. Continental Airlines, Delta Airlines, American Airlines and Southwest Airlines cut flights and raise fares by maintaining the normal operation. Although the U.S. economy is showing strong signal, but the airlines in the financial statements show that they still adhere to this policy will be determined. Last year, oil prices reached an average $ 100 a barrel, which is equivalent to 2008 levels, but the airline to produce higher-than-expected earnings. Massachusetts Institute of Technology Research Center of International Aviation excellence that the airline, airlines through mergers and acquisitions he believes a good way to control costs.

“USA Today”: the California zero-emission vehicles to vote this weekend to force bill

the United States to vote in California this weekend, the force in 2025 every seven years ago, there is a zero emission car or hybrid vehicle bill. The new regulations aim to California in 2025 will have 1.4 million zero-emissions hybrid vehicles, but the target may also be postponed to 2050, the target for the infrastructure projects will start early in 2015. Other parts of California will lead the United States, the first implementation of the new cars and trucks in greenhouse gas emission standards. California Air Resources Board Chairman Mary Nichols that the law will cut 75% of exhaust pollution, and to establish a nationwide demonstration effect.

“The Guardian”: EU Greek bonds held by the public sector will receive a higher proportion of write-down

EU officials prepared to admit, the European Union of Greek bonds held by the public sector may need to make greater sacrifices, otherwise Europe will face a sovereign debt default risk. The EU said the aid package to Greece last year as part of the plan have been identified for the EU Greek public sector debt held by € 30 billion write-down, but the scale may not be enough. Held by the public sector in the EU Greek bonds, a considerable part of the European Central Bank. International Monetary Fund president Christine Lagarde ? Thursday urged all parties to make concessions to end the debt write-downs around Greece for several weeks on the dispute, the dispute has caused turbulence in international financial markets.

“Daily Telegraph”: Royal Bank of Scotland CEO pay up to seven million pounds last year

Royal Bank of Scotland said in a statement late Thursday, the bank CEO Stephen ? Hearst (Stephen Hester) 2011 annual bonus of 96.3 million pounds. Prior to receiving financial aid this bank under political and public pressure, promised to pay bonuses to their CEO will not exceed 100 million pounds. However, the bank admitted that under long-term incentive plan (LTIP), Hearst still be eligible for rewards of up to 480 million pounds. This means that Hearst last year’s total compensation, including £ 1.2 million and 42 million pounds salary pension, up to £ 7,380,000.

“Japan Times”: Japan’s NEC Group plans to cut 10,000

Japan’s NEC Group Thursday announced plans in the first half of fiscal year 2012 cut 10,000 jobs worldwide, including in Japan to cut 7,000 jobs, cut 3,000 jobs overseas to offset the revenue loss caused by the appreciation of the yen. The NEC Group, said the global economic downturn and the impact of Japan’s economic slowdown, the Group is expected to decline in annual revenue in 2011, the net loss of 10 billion yen, 400 billion yen while layoffs and other restructuring costs incurred as a special loss, higher than previously expected 15 billion yen net loss. The NEC Group announced in April 2011-December, the group net loss of 97.52 billion yen, higher than last year’s losses of 53.57 billion yen the same period, sales of 2.11 trillion yen, down 3.5%. Last year, the NEC Group and China’s Lenovo Group announced a joint venture, to enter the Japanese market of personal computer business, within three years a 30% market share, Lenovo stake in the joint venture 51%, NEC Group holds 49%.

“The Times of India”: India, the EU intends to reduce import tariffs on cars

Government of India announced cuts import tariffs on European cars, India, EU free trade agreement as part of the first to enter the Indian market, Japanese auto makers expressed opposition, including Ma Ludi Japanese companies, including Suzuki’s called fair competition the environment. The Indian government has agreed to enter into bilateral trade agreements and the European Union under the conditions of a specific number of cars to reduce import tariffs, Ma Ludi Suzuki said the Indian government’s move against the current market of imported cars in India is 100% nominal tariff, car import tariffs 60% said the insider, 60% of the tariff is the starting point for negotiations the EU in India. Indian government is currently studying the EU import tariff quota for cars, not only Audi, BMW and Mercedes Benz and other luxury car manufacturers to increase revenue, and Volkswagen, Fiat, Peugeot and other companies are expected to benefit benefit.



South Korea’s economic slowdown last year, GDP growth of 3.6%

NetEase Financial News, 27 January family financial crisis, Korea’s economic growth last year dropped. Central Bank of Korea 26, said: “Last year, Korea’s gross domestic product (GDP) grew 3.6 percent.” The value than the Bank of Korea forecast to 3.8% last month decreased by 0.2 percentage points, only 2010 (6.2%) of the by half. The fourth quarter of last year, the chain growth rate of 0.4%, which is the 2009 fourth quarter were the lowest since 0.2 percent growth rate.

sluggish economic growth due to sluggish consumption and investment. Private consumption growth beyond 2.2%, construction investment or even negative growth of -6.5%. Only exports grew 10%, economic growth has made the greatest contribution.

by industry, the manufacturing sector grew by 7.1%, services (2.6%) and construction (-5.6%), most other industries such as malaise.


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