Hungary to review budget for 2012 as economic outlook weakens

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

Viktor Orban, Hungarian PM said Hungary will have to review its 2012 government budget due to diminishing economic outlook as well as weakness of national currency forint. Hungarian parliament expects next year's growth to reach only 0.5% instead of earlier predicted 1.5% as demand from debt harmed European nations has declined sharply. 

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Tue, 13 Dec 2011 11:33:20 GMT

Germany's investor confidence surprisingly rises

Germany's investor confidence unexpectedly surged the first time since October 2010, signalling Germany, the largest European economy is surviving regional debt woe. ZEW Center reported that its index, consisting of analyst and investor expectations aiming to predict outlook for 6 months ahead, advanced and reached minus 53.8 compared to a 3-year record low of minus 55.2 in November. Earlier analysts  forecast a drop in index

Tue, 13 Dec 2011 17:37:40 GMT

Canada to abandon Kyoto protocol

On Monday Canada became the first nation that claimed it will quit Kyoto protocol. Peter Kent, Environment Minister made an announcement of Canada's abandonment after he returned from summit in Durban. Canada, a leading energy producer has complained extensively that Kyoto protocol does not work as it ignores too many important emitters such as India and China. 

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