Bank of America sells shares of CCB

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

Bank of America plans to sell 10.4bn of China Construction Bank shares for about $6.6bn in cash. Bank of America is under pressure because of global crisis and bad loans. The bank has to increase its capital base in compliance with new global regulation Basel III that obliges banks to have higher capital to asset ratio.  

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Tue, 15 Nov 2011 08:13:47 GMT

Greek interim PM Papademos insists on Greece staying in Eurozone

Interim PM of Greece insisted on Greece staying in the Eurozone as it is the only option to struggle with crisis. He also stressed the necessity of activating bailout package as soon as possible. Making decisions and implementing policies in line with these decisions is of paramount importance for government, added Papademos.

Tue, 15 Nov 2011 08:12:25 GMT

Asian markets drop on new European debt fear

Asian stocks experienced a sharp decline as Italian and Spanish borrowing costs surged; rising concerns among investors that debt crisis might strengthen.  Japan's Nikkei Stock Average lost 0.6%, Hang Seng Index trader 1.1% lower while China's Shanghai Composite fell 0.1%. Australia's S&P/ASX 200 slipped 0.4% whereas South Korea's Kospi decreased 0.6%.

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