Crude oil rallies on the Canada's pipeline fire

Source: Forexpros
Crude oil futures gained a spree during the Asian trade on Monday following the Enbridge's report on the fire at its pipeline in Illinois. Moreover, Barack Obama announced that the country may use military force to defend the interests of US in dealing with Iran. Light, sweet crude oil futures for April delivery traded at 107.17 US Dollars per barrel on the New York Mercantile Exchange, advancing by 0.44%.
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Mon, 05 Mar 2012 10:36:42 GMT

Chambers of Commerce cut UK's expansion forecast

Chambers of Commerce expects the UK to escape recession but the growth is likely to be slower than initially predicted this year. UK's Chambers of Commerce projected the UK economy to expand by 0.6% in Q1 of 2012 while previously it predicted the UK's GDP to grow by 0.8%. It also outlined that unemployment will hit 2.9 million as compared

Mon, 05 Mar 2012 10:53:42 GMT

Moody's downgrades Greece to "C"

Moody's has downgraded Greek credit rating again from "Ca" to the lowest level of "C". The rating agency cited high risk of country's default even despite deal with its bondholders on almost 70% debt write-off. The deal will allow Greece not to return about 107 billion Euros to the private investors. Moody's stressed that planned reforms to avoid default are

Mon, 05 Mar 2012 10:52:15 GMT

China's Investment Corp. received 30 billion US Dollars to buy EU assets

China's Investment Corp. has got 30 billion US Dollars from the State aimed at purchasing undervalued assets from indebted Euro Zone, reported Wang Jianxi from CIC. The company received the same amount in 2011, fully invested it and was negotiating provision of the additional financial resources by the State. The company plans to invest in industrial and infrastructure projects that

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