Euro reaches seven-week drop

Note: This section contains information in English only.
Source: Bloomberg
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The US dollar surged against most of its major peers; spreading current week's gains after investors began to switch to US assets considering them as safe haven amid European debt fears. 17-nation currency fell to a seven-week record low against US dollar, as Italy's 2-year borrowing costs rose to highest level in 14 years. On Friday morning trade Euro lost 0.3% and touched $1.3299. EUR/USD currently is trading at $1.3304.

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Fri, 25 Nov 2011 09:33:01 GMT

Olympus does not want to be delisted

Olympus, Japanese camera maker, may be delisted from the Tokyo Stock Exchange because of hiding losses. It will be delisted in case it fails to provide truthful financial data till December 14.  However, even if the company succeeds in financial reporting till due date, the authorities can delist the company taken the scale of malpractice or in case some connection with Japanese criminal authorities

Fri, 25 Nov 2011 08:20:14 GMT

China's construction developers shift focus to developed economies

In recent years China's offshore property developers were focusing on developing economies as Middle East and North Africa. Currently these regions experience a political turmoil thus increasing the level of risk of construction projects. Now China's construction contractors see high potential in entering developed economies, said Yu Zhende, vice-president of Overseas Operations for China State Construction Engineering Corp Ltd.

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