EU courts approves the carbon tax

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Source: BBC

EU plans to impose tax on carbon emissions produced by airlines, reported the ECJ. The regulation envisages all airlines operating in the EU will have to pay levy on carbon emission starting from January 1, 2012. Foreign carriers oppose the decision citing the violation of aviation pacts and too high tax payments; for example, China's airlines will have to pay 95m euros under the scheme.

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Wed, 21 Dec 2011 17:09:43 GMT

Gold futures fell after one-week high after the ECB tender

Gold futures declined after one-week high following the ECB allotment of the record amount of loans to the European banks as part of its refinancing operation. On the Comex division of the New York Mercantile Exchange, gold futures for delivery in February traded at USD1,616.05 a troy ounce at the U.S. morning trade, losing 0.1%.

Wed, 21 Dec 2011 17:09:20 GMT

Soybeans swung on the unfavorable weather conditions in South America

Soybeans fluctuate, remaining close to one-month high as investors are eying weather forecasts in Brazil and Argentina, the world's second and third largest soy producers. Soybean futures for delivery in January traded at USD11.4538 a bushel on the Chicago Mercantile Exchange, at the early European trade, edging up 0.1% since opening.

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