Federal balance of the US declined less than expected

Source: Forexpros

The federal budget balance of the US decreased less than previously projected in November, according to official data. The US federal budget balance decreased by -137.3 billion from -98.5 billion in October on a seasonally adjusted basis. Experts predicted the balance to decrease to -138.0 billion in November, reported Department of the Treasury.

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Tue, 13 Dec 2011 09:03:36 GMT

Growing demand for yuan may pose difficulties for China

Growing foreign demand for yuan may have a little impact on the China's financial industry due to tight government's control and low amount of currency in circulation on the overseas markets, said analysts. However, the large increase in the yuan use overseas could create difficulties for country's financial industry as many local companies are trying to sell yuan-bonds to the foreign markets with lower interest

Tue, 13 Dec 2011 17:37:40 GMT

Canada to abandon Kyoto protocol

On Monday Canada became the first nation that claimed it will quit Kyoto protocol. Peter Kent, Environment Minister made an announcement of Canada's abandonment after he returned from summit in Durban. Canada, a leading energy producer has complained extensively that Kyoto protocol does not work as it ignores too many important emitters such as India and China. 

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