Europe to ban Iran oil on Monday

Note: This section contains information in English only.
Source: CNN Money
European Union officials today are going to announce oil embargo on Iran. The imposed sanctions will not only prohibit the imports of Iran crude but also place restrictions on nation's trade with precious metals including gold, said two persons familiar with situation. Iran exports about 2.2 m barrels of crude oil per day and around 18% is created for European market. 
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Mon, 23 Jan 2012 07:33:07 GMT

Sales of existing homes surge in December

Sales of existing houses soared in December, reaching one-year record high, indicating real estate market is stabilizing. Purchases of previously owned homes surged for a third consecutive month jumping 5%, said National Association of Realtors. Cheaper property and increasing employment may encourage Americans to purchase a house, predict analysts. Nevertheless the relatively high number of foreclosures may slow the recovery.

Mon, 23 Jan 2012 07:01:32 GMT

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UK lawmakers decision to cut down payments for new houses is likely to stimulate home construction industry which has severely contracted since 2006. Currently home purchasers have to pay down payment equal to 25% of total house value. The new government plan would share the guarantee between constructors and state to protect creditors. Analysts expect home building industry to expand by 15% in second

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