China warns banks on real estate loans

Source: Bloomberg
© Scanpix/AP

Chinese banking regulator alerts lenders that several projects financed by local municipalities may experience problems with funding liquidity. Regulator also admitted that loans on real estate are expected to taint as sales decline. Last week China Banking Regulatory Commission advised banks to reduce high risk loans to local governments. In October property sales experienced drop of 25% compared to September.

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Fri, 18 Nov 2011 09:23:02 GMT

Italian PM wins confidence vote

Mario Monti's government has won the confidence vote in parliament yesterday evening. He had 281 votes versus 25. Mario Monti's government strategy is to implement austerity measures in order to prevent debt crisis and boost economic growth. Today he faces vote in lower house. Meanwhile, students in many Italian cities organize protests against technocrats' government of Mario Monti.

Fri, 18 Nov 2011 15:34:36 GMT

Oil Spill near Rio de Janeiro coasts

Brazil is investigating oil spill in 120km from the coast of Rio de Janeiro state. The responsibility of the spill lies on the US company Chevron. About 600 barrels of oil shaped a slick on the water. Fortunately the spill moves away from Brazilian coast as more than 17 ships clearing up the spill. In case Chevron does not fulfill its obligations to clean

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