Accounting & Finance Updates

​Tehran, Dec 7 (IANS) The Iran government on Wednesday approved a proposal to change the name of the country's currency unit from rial to toman, media reported.

One toman equals 10 rials and one dollar is worth about 3,900 tomans in Iran's unofficial market currently, Xinhua news agency reported.

​Moscow, Dec 6 (IANS) The Russian economy is an integral part of the global economic system and should not develop in isolation from it, President Vladimir Putin has said.

"We have never believed and we should not believe that we must develop our economy in isolation from the global economy. The Russian economy has already become an

​Rabat, Dec 5 (IANS/MAP) Moroccos net international reserves amounted to MAD 250.2 billion (around $24 billion) until November 25, 2016, recording a 13.5 per cent increase on an annual basis, Al-Maghrib Bank said.

​London, Nov 29 (IANS) Fitch Ratings has lowered India's GDP outlook for the current year to 6.9 per cent from the 7.4 per cent estimated earlier.

According to its Global Economic Outlook (GEO) report, released here on Tuesday, this was due to the cash crunch created in the economy following the demonetisation move.

New York, Nov 26 (IANS) US stocks rallied on Friday, with all three major indices refreshing closing records, as investors continued to digest the Federal Reserve's minutes from its November meeting.

Beijing, Nov 15 (IANS) The Chinese yuan on Tuesday fell sharply to an almost eight-year low against the US dollar.

The central parity rate of the yuan weakened 204 basis points to 6.8495 against the dollar, according to the China Foreign Exchange Trading System (CFETS).

​New York, Nov 17 (IANS) Oil prices declined on Wednesday in volatile trading as the US reported a 7.7-per cent increase of crude oil inventories.

The West Texas Intermediate for December Delivery lost $0.24 to settle at $45.57 a barrel on the New York Mercantile Exchange, while Brent crude for January delivery erased

​Berlin, Nov 15 (IANS) The German economic growth rose slightly in the third quarter of 2016, official data showed on Tuesday.

Germany's gross domestic product (GDP) increased by 0.2 per cent quarter on quarter, Xinhua news agency quoted German federal statistics office Destatis as saying.

​New York, Nov 16 (IANS) Set to become one of the highest-profile stock debuts along with Chinese e-commerce company Alibaba and social media giant Facebook, photo and video sharing app Snap Inc has filed paperwork for an initial public offering (IPO) that may value the messaging platform at as much as $25 billion, media reported.

​Cairo, Nov 12 (IANS) The International Monetary Fund (IMF) executive board approved Egypt's request for a three-year $12 billion loan on Friday, media reports said.

Meanwhile, Governor of the Central Bank of Egypt (CBE) Tarek Amer said that Egypt has received Friday an initial $2.75 billion from the IMF, Xinhua news agency reported.