Obama says he is the first US Pacific president

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

President Obama urges Americans to pay more attention to Asia and also to reason as Asians do.  Obama is going to promote Pacific orientation by participating in East Asia Summit and in Asia-Pacific economic cooperation summit. In his previous speeches President has pointed out spending by South Korea, China and other countries on infrastructure and education as good examples of creating jobs and stimulating growth.

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Fri, 11 Nov 2011 08:42:29 GMT

US stocks gain as euro area concerns diminish

On Thursday US equities recaptured some losses of earlier trading sessions after receiving news of record low unemployment claims in October and halted concerns about euro area debt turmoil.  S&P 500 Index added 0.9% or 10.6 points, reaching 1,239.70, Dow Jones Industrial Average closed at 11,893.79 gaining 1% or 112.85. Nasdaq Composite Index ended at 2,625.15 increasing by 0.1% or 3.5 points.

Fri, 11 Nov 2011 16:31:03 GMT

Exorbitant cost of Italy’s borrowings impacts global share indexes

Yields on 10-year Italian bonds achieved 7.28%; rate considered as unsustainable. Concerns about Italy's debt crisis grew impacting the global economy. Asian stock market indexes fell-Japan's Nikkei index dropped by 2.9% while Hong Kong's Hang Seng index decreased by 5.3%. European market proved to be more resilient-Germany's DAX index increased by 0.22%, and the French CAC 40 index went up by 0.4%.

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