Standard & Poor's cut creadit ratings of nine Euro Zone memebrs

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Source: Reuters
Standard & Poor's cut credit rating of nine members of the Euro Zone citing the insufficiency of the policies taken by the countries' leaders to tackle the debt crisis. Italy, Portugal, Cyprus and Spain were downgraded by two notches while France, Malta, Slovakia and Austria lost one notch each. S&P also put on negative outlook 14 Euro Zone members.

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Mon, 16 Jan 2012 07:48:05 GMT

Nigeria strikes: no agreement is reached

Negotiations between Nigerian trade unions and the government failed to reach an agreement on the end of oil subsidies. The removal of oil subsidies two weeks ago has led to soaring fuel prices, protests and more than a week- long strike. The strike has already cost the country billions of Dollars.

Mon, 16 Jan 2012 06:45:44 GMT

Aussie and Kiwi fall ahead of Chinese growth release

New Zealand and Australian currencies depreciated against greenback before Chinese GDP report due tomorrow as the data are expected to show the world's second biggest economy expanded at the slowest pace in 10 quarters. Australian Dollar lost 0.4% to $1.0286 while its New Zealand peer gave up 0.2%, dropping to $0.7934. Currently AUD/USD is trading at $1.0284 while NZD/USD is trading at

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