Euro rises

Note: This section contains information in English only.
Source: Forexpros
© Scanpix/AFP

The euro edged up against USD after being seven-week low. EUR/USD achieved 1.3394 on the Asian trade, gaining 0.31%. However, euro position remains unstable as recent failure of the German bond auction creates fears about debt crisis keeps spreading to the strongest EU economies thus increasing investors' risk-aversion.

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Thu, 24 Nov 2011 11:02:19 GMT

China launches iron ore trading platform

China is going to introduce the iron ore physical trading platform in the end of 2011 aimed at providing more transparent business transactions for local and foreign traders. China Beijing International Mining Exchange plans to introduce own iron ore index in line with launching online platform for trading, said Dong Chaobin, exchange president.

Thu, 24 Nov 2011 10:59:43 GMT

Property developers seek to sell assets

Hong Kong real estate developers seek to raise property sales because of credit-restriction in the country, reports Barclays Capital. The number of loans available in Hong Kong was also impacted by withdrawal of many European banks from the market. Essential contraction in credit availability forces property developers to boost sales in order to sustain the cash flow.

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