China's government spending can stimulate economic growth

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

Worsening situation both in the euro-zone and in the US affect the economic expansion of China. The country may use government spending instead of bank lending to ensure sustainable growth of the infrastructure and manufacturing sectors in the next year, claimed Lin Yifu, the World Bank's senior vice-president. The GDP is likely to remain above 8% in 2012, he added.

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Wed, 14 Dec 2011 14:52:08 GMT

Thomas Cook plans closure of 200 stores in the UK

Thomas Cook, a large travel agency, announced it would close about 200 stores in the UK in two years as compared to 125 close downs previously reported. About 661 people lost jobs on Wednesday due to closure of 115 stores. The closures and layoffs followed the Thomas Cook's report on ВЈ398m loss for 2011.

Wed, 14 Dec 2011 15:10:56 GMT

Nikkei slightly lower on Wednesday

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