China plans new investment mechanism

Note: This section contains information in English only.
Source: China.org.cn

Central bank of China plans to introduce investment vehicle aimed at managing $300 billion of foreign reserves, according the source familiar with the matter. The mechanism is likely to improve returns on foreign exchange reserves and will target investments in the US and Europe. China's foreign exchange reserves achieved $3.2 trillion in September. China's officials have not confirmed this information yet.

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Tue, 13 Dec 2011 09:48:11 GMT

Aussie and Kiwi rebound ahead US retail sales statement

New Zealand and Australian dollar recovered from 2-week lows before US retail report which is expected to show that retail sales in US surged in November. Economists surveyed by Bloomberg predicted an increase of 0.6%.  Australian dollar gained 0.1% against greenback on Tuesday reaching $1.0086 in Sydney trade, while its New Zealand counterpart added 0.2% to $0.7643. AUD/USD currently is trading at $1.0110 while NZD/USD is

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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