China reduces retail fuel price following demand drop

Note: This section contains information in English only.
Source: BBC
China's 5% cut in retail oil prices has caused an immediate effect. Gas prices will be diminished by CNY420 a tonne, diesel prices by CNY400, according to the National Development and Reform Commission. This is already a third cut in a period of two months which has lead to the lowest inflation in almost two years (latest CPI figure rose 2.2%).
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Wed, 11 Jul 2012 08:58:57 GMT

The Australian Dollar apreciated against the Euro and the US Dollar on July 10

The Australian Dollar appreciated against the Euro from EUR 83.20 to 83.24 on Wednesday, July 11. Moreover, the Australian Dollar gained 0.1% against the US Dollar on Tuesday, July 10, in Sydney. Therefore, trading rate now is USD 1.0204, whereas the Aussie depreciated against the Yen to JPY 80.66. Consumer confidence noticeably improved in Australia. Sentiment index advanced by 3.7% reaching highest reading (99.1) since January.

Wed, 11 Jul 2012 07:43:57 GMT

Spain at risk of protests as Rajoy introduces new cuts

Mariano Rajoy, Spanish Prime Minister, is likely to set out fresh austerity measures addressing the parliament. He is supposed to rise VAT and cut unemployment benefits and social securities. These measures are charged by EU government in return for urgent aid to Spanish banks and concession in Spain's budget deficit reduction targets.

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