Europe to increase financial support for combating with crisis

Source: Marketwatch
© Scanpix/AP

Financial resources are going to be increased in order to support members in handling the recession, said Herman van Rompuy, European Council President. The euro-area and other countries will attempt to raise additional resources for the IMF up by 200 billion euros. The EFSF will also be expanded, he added.

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Fri, 09 Dec 2011 07:44:18 GMT

Asian stocks decline on Europe worries

Asian equities dropped sharply on Friday as EU summit failed to ensure full support from the 27 region's countries on tighter fiscal policy. Hong Kong's Hang Seng Index fell 2.5% and Shanghai Composite index gave up 0.6%. Australia's S&P/ASX 200 index plunged 2.2%, Japan's Nikkei Stock Average declined 1.6% and South Korea's Kospi edged down 1.7%.

Fri, 09 Dec 2011 07:04:31 GMT

China's CPI growth decreased in November

China's CPI, the main indicator of inflation, increased by 4.2% last month on a yearly basis easing down from 5.5% increase in October, according to the National Bureau of Statistics. The inflation in November was the 13-month low, showed NBS data. Cost of living decreased by 2.2% last month on monthly basis, the bureau added.

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