Aussie reached five-week record low

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Source: Bloomberg
© Scanpix/AFP

Australian dollar dropped to the lowest level against USD in last five weeks as US lawmakers today may declare failure to reach a deal regarding budget cuts boosting the concern that US might face one more credit downgrade. On Monday Australian dollar lost 0.3% $0.9974 in Sydney evening trading session which is the lowest level since October 12. 

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Mon, 21 Nov 2011 10:23:24 GMT

Arkema plans to buy China chemical companies

French chemicals firm Arkema SA announced about purchase of two China's chemical companies for $365 million in line with acquisition plan presented in November last year. The company plans to purchase Hipro Polymers and Casda Biomaterials that most probably report about report $230 million revenues this year. The takeovers still require an agreement of China's government.

Mon, 21 Nov 2011 10:22:43 GMT

China's growth to slow down next year

According to Renmin University of China's report, the China's GDP in 2012 may slow down to 9.2%, a slight decline compared to 9.4% this year. Report also predicts the country's consumer price index will ease next year and reach 3.3% on yearly basis. University of China suggests the government will be forced to switch its monetary policy from tightening to growth supporting in order to

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