Mario Monti appointed to lead Italian government

Note: This section contains information in English only.
Source: CNN Money
© Scanpix/AFP
According to Donato Marra, presidency general secretary, economist and former EU commissioner and Mario Monti was appointed to replace ex-premier Silvio Berlusconi as Italian PM on Sunday. Monti in his brief announcement thanked President Napolitano for trust and promised to do as much as possible to help Italy tackle hard economic situation. Monti eventually will receive approval from the Italian law makers.

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Mon, 14 Nov 2011 08:29:49 GMT

Global downturn slows down China’s growth rate

Major consumers of China's exports are exposed to economic problems due to debt crisis in the Eurozone and unemployment in US. China's exports are falling causing decrease in the country's growth pace. China's annual growth rate is likely to be about 8% in the next 10 years as compared to more than 10% in the previous years, said Li Yang, vice president of the

Mon, 14 Nov 2011 10:12:53 GMT

US job loses claims are falling

US Labor Department announced initial claims for unemployment benefits decreased by 10000 to 390000. MarketWatch predicted it to be 398000. However, the situation in the country is still difficult as only 80000 job places were created in October while 250000 jobs per month are necessary to satisfy natural increase in labor force. US unemployment rate is 9% in October.

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