Euro weakens to 11-year record low against Japanese Yen

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Source: Bloomberg
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Euro depreciated against Japanese Yen hitting 11-year record low before recovering on investor fear European debt turmoil will decelerate economic growth and undermine financial markets in 2012. 17-nation currency fell against its Japanese counterpart after data showed European industrial production deteriorated for a fifth consecutive month in December. Euro plunged ВҐ98.66 in morning session and lost 0.1% against greenback reaching $1.2947. Currently EUR/JPY is trading at ВҐ99.57.

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Mon, 02 Jan 2012 13:47:45 GMT

Hyundai and Kia expect lower pace of sales growth

Hyundai and Kia Motors announced they expect to see essentially slower growth in sales in 2012 than in 2011 amid the global economic slowdown. European recession and increased competition from Japanese car producers are likely to limit expansion, said Chung Mong-koo, Hyundai Motor's chairman. Companies predict sales in 2012 to increase by 6%, approaching 7 million cars as compared to 15% jump in 2011.

Mon, 02 Jan 2012 14:44:08 GMT

Dutch manufacturing declines for a fourth straight month

Dutch industrial production fell in December extending contraction for a fourth month in a row, said NEVI, Dutch research institute. The manufacturing gauge increased to 46.2 in December, compared to 46.0 in November. However the reading still is below 50.0, signalling contraction. Dutch PMI fell below 50 in September as budget cuts and slowing world trade began to harm demand. 

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