China's property tax may be extended

Source: China.org.cn
© Scanpix/reuters

China plans further expansion of its real estate tax initiative to larger number of cities after it assessed the results of test launch in Shanghai and Chongqing, reported Ministry of Finance. Since January Shanghai had a property tax of 0.6% and 0.4% depending on the house price causing a decrease in real estate prices and higher tax contribution to the region's tax revenue. Officials consider the measure proved to be viable and plan to it expand it further.

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Fri, 09 Dec 2011 07:03:21 GMT

Dollar climbs on failure of the EU summit

Following the news on the EU leaders could not reach a full agreement on closer fiscal ties, the greenback advanced against its major counterparts; the dollar index increased to 78.848 from 78.789 in late North American trade as investors perceive dollar as safer investment option.

Fri, 09 Dec 2011 06:59:57 GMT

EU's intergovernmental agreement may be concluded without all member states

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