Britain to increase its bank levy

Note: This section contains information in English only.
Source: Marketwatch

According to Wall Street Journal, Chancellor George Osborn announced that British government plans to raise its bank levy. The current rate of 0.078% will be raised to 0.1%. The increase will produce additional 2.5 billion pounds for British government. Osborn will deliver this plan today at the meeting at the House of Commons.

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Tue, 29 Nov 2011 15:42:17 GMT

German DAX boosted by financials

German DAX 30 Index followed its British peer and opened 0.4% lower on Tuesday morning after sharp gains during Monday trade. Weaker opening was mainly caused by anxiety that S&P rating agency said it may cut credit rating of France. During the day session the index recovered and climbed 1% fuelled by financial institutions. Insurer Allianz SE gained 2.8% while Commerzbank AG added 2.3%. Among

Tue, 29 Nov 2011 15:56:28 GMT

India wins $10bn Afghanistan mining contract

A consortium of companies in India won a right to develop iron ore deposits in Afghanistan, according to Afghanistan mining ministry. The consortium represents seven companies that have won $10.3bn contract to develop three mine sites in Afghanistan. Officials claim the deal is going to be the largest foreign investment project in Afghanistan.

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