Property developers seek to sell assets

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AP

Hong Kong real estate developers seek to raise property sales because of credit-restriction in the country, reports Barclays Capital. The number of loans available in Hong Kong was also impacted by withdrawal of many European banks from the market. Essential contraction in credit availability forces property developers to boost sales in order to sustain the cash flow.

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Thu, 24 Nov 2011 11:01:05 GMT

Euro rises

The euro edged up against USD after being seven-week low. EUR/USD achieved 1.3394 on the Asian trade, gaining 0.31%. However, euro position remains unstable as recent failure of the German bond auction creates fears about debt crisis keeps spreading to the strongest EU economies thus increasing investors' risk-aversion.

Thu, 24 Nov 2011 09:13:38 GMT

Monti calls for easing EU budget goals

Italian premier Mario Monti may push French President Nicolas Sarkozy and German Chancellor Angela Merkel to relieve euro zone budget targets and help stimulating growth. Monti is going to present his vision of way how to tackle debt crisis in today's talks in Strasbourg. Italian PM has emphasized that economic growth is one of the main determinants to stop expansion of debt woe.

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