China postpones stricter bank rules

Note: This section contains information in English only.
Source: BBC
China announced that it will postpone the introduction of tougher bank rules until January 2013 as such measures may impact lending amid cooling economy. The new regulation is aimed at increasing reserves banks have to keep to cover losses from bad debts. The financial, institutions will be given sufficient transition period to comply with new requirements, reported China's cabinet.


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Thu, 07 Jun 2012 06:44:26 GMT

Gold slid on profit-taking

Gold futures moved lower in Asian session on Thursday as traders cashed out from the market after recent rally of the yellow metal. COMEX gold August contract traded at 1,623.55 US Dollars per troy ounce on the New York Mercantile Exchange, dropping by 0.65%. Meanwhile, COMEX silver for delivery in July traded at 29.415 US Dollars per troy ounce, retreating

Thu, 07 Jun 2012 06:22:48 GMT

Australian unemployment rate increased in May

Australian jobless rate advanced in May, reported Australian Bureau of Statistic. The rate of unemployment in the country rose to 5.1% on a seasonally adjusted basis in May as compared to April's reading of 4.9%. The figure is in compliance with expectations. After the data release, Australian Dollar rallied against its US counterpart by 0.26% to trade at 0.9955 US

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