Egyptian credit rating decreased

Source: BBC
© Scanpix/FP

Standard & Poor's has decreased the credit rating of Egypt from BB- to B+ pushing Egypt's debt close to junk status. The agency explains this downgrade as a result of political and economic situation in the country that continues to deteriorate. There were four days of demonstrations in Egypt before parliamentary elections due 28 November.

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Thu, 24 Nov 2011 13:26:29 GMT

Munali Nickel Mine restarts its operations

Zambia's nickel mine, Munali Nickel Mine, announced it will resume its operations in January after implementing restructuring program. The company ceased its operations because of the cash flow difficulties in the beginning of November. The company plans to attract investors to finance the company and make its capital structure more stable, said the official.

Thu, 24 Nov 2011 13:23:07 GMT

Copper futures increase

Copper futures surged after the German report indicated an unexpected increase in German business confidence. On the Comex division of the New York Mercantile Exchange, copper futures for December delivery were traded at USD 3.298 a pound at the early European trading, gaining 1.05%. Copper earlier decreased by 1.95% and was traded at USD 3.205 a pound, being a four-week low.

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