Greek officials struggle to reach consensus

Note: This section contains information in English only.
Source: Bloomberg
Although PM Papademos and officials from three leading Greek parties have agreed on debt cuts corresponding to 1.5% of country's GDP, nation's leaders still are struggling on measures related to wage reductions, bank recapitalization, and pension fund reforms. Greece is due to pay EUR 14.5 billion of debt on March 20 and time for the country is running out, pointed out German Chancellor Merkel in her speech yesterday. Meanwhile the Greek labour unions are preparing for the general strike.
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Tue, 07 Feb 2012 13:24:32 GMT

Hang Seng down as Chinese government linger

Hong Kong's Hang Seng index extended modest loss also on Tuesday as Chinese officials disappointed investors by giving no signs of monetary easing. Moreover, IMF lowered the China's growth forecast for 2012 citing expected drop in exports demand. Hang Seng dropped 0.05% or 10.75 points and settled at 20,699.19. Property, mining and financial shares provided main negative contribution to the

Tue, 07 Feb 2012 14:35:31 GMT

India forecasts weakest growth since 2009

The government of India predicted the nation's economy will expand at slowest pace in three years, putting extra pressure on Reserve Bank of India to cut interest rates. Government predicts annual GDP to increase by 6.9% starting from March. India's economy grew 8.4% in period 2010-2011. The growth slowed down after central bank raised benchmark rates starting from 2010 until October 2011. 

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