German exports drop on Euro Zone crisis

Source: Bloomberg
German exports declined more rapidly than economists predicted in December as debt crisis harmed the export demand across the troubled region. Exports lost 4.3% compared to November when they added 2.6%. In contrast, analysts predicted only a 1% decline in European biggest economy's exports. Nevertheless economists suggest the German exports may gain momentum in 2012 as business confidence surged in January.
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Wed, 08 Feb 2012 13:53:08 GMT

Nokia to eliminate 4000 jobs

Nokia Oyi, one of biggest cell phones manufacturer which sales are concentrated in Asia, announced it will eliminate about 1000 jobs in Finland, 2300 in Hungary and 700 in Mexico as company wants to concentrate its resources closer to suppliers in Asia. The company plans to transfer its device assembly to Asian plants where the component suppliers are located. 

Wed, 08 Feb 2012 12:55:28 GMT

Hang Seng jumps 1.5% as China eases lending for first time home buyers

Hong Kong's Hang Seng index appreciated 1.54% or 319.27 points at 21,018.46 on Wednesday as investors sentiment improved on Greek debt talks and China announced it will apply measures to support first time home purchasers. Property shares rallied on the announcement with China Resources Land Ltd. gaining 3%, China Overseas Land & Investment Ltd. surging 5% and Agile Property Holdings

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