Chinese airline sector expansion is likely to decline

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

Chinese airline industry is likely to have lower growth of profits next year as residents tend to switch to rail service. Profit for the industry is expected to climb 5.1% to 45.6 billion yuan in 2011 as compared to 300% surge a year before, reported the Civil Aviation Administration of China.

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Wed, 28 Dec 2011 09:21:50 GMT

Sears and Kmart to axe 120 stores

Sears and Kmart announced they plan to close down about 120 stores due to the low amount of sales. In pre-Christmas period the sales of Kmart and Sears dropped by 4.4% and 6% respectively. The closures of 120 stores will help raise additional $170m. Following the announcement, the shares of Kmart lost 27%.

Wed, 28 Dec 2011 09:17:03 GMT

Crude oil futures erase gains

Crude oil futures fell after strong gains on the Iranian and Syrian supply threat and stronger consumer confidence in the US. Syrian oil production already dropped by 35% on sanctions imposed due to country's crackdown of the protestors. Crude oil futures for February delivery traded at USD101.17 a barrel on the New York Mercantile Exchange, easing down 0.17%.

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