Turkish Lira recovers from record lows

Source: Bloomberg

Turkey's Lira recovered and advanced for a third straight day after it experienced a record low depreciation of 1.9224 per US Dollar last week. Lira ascended 0.4% to 1.8833 per US Dollar. Turkey's currency weakened by 17.7% last year and faced the largest depreciation among emerging economies, trailed by Bloomberg. Country's central bank intervened and sold dollars extensively on December 30.

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Mon, 02 Jan 2012 13:47:45 GMT

Hyundai and Kia expect lower pace of sales growth

Hyundai and Kia Motors announced they expect to see essentially slower growth in sales in 2012 than in 2011 amid the global economic slowdown. European recession and increased competition from Japanese car producers are likely to limit expansion, said Chung Mong-koo, Hyundai Motor's chairman. Companies predict sales in 2012 to increase by 6%, approaching 7 million cars as compared to 15% jump in 2011.

Mon, 02 Jan 2012 14:44:17 GMT

Euro weakens to 11-year record low against Japanese Yen

Euro depreciated against Japanese Yen hitting 11-year record low before recovering on investor fear European debt turmoil will decelerate economic growth and undermine financial markets in 2012. 17-nation currency fell against its Japanese counterpart after data showed European industrial production deteriorated for a fifth consecutive month in December. Euro plunged ВҐ98.66 in morning session and lost 0.1% against greenback reaching $1.2947. Currently EUR/JPY is trading at

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