Australian budget to swing to surplus in 2012

Note: This section contains information in English only.
Source: BBC
Australian government plans to finish this year with budget surplus after four consecutive years of deficit. Wayne Swan, treasurer, is expected to report on large budget cuts as surplus would enable the central bank to reduce the interest rates further. Meanwhile, Australia has managed to tackle the global financial crisis better than many developed countries due to strong demand for its resources.


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Tue, 08 May 2012 08:32:04 GMT

Gold edged down amid stronger US Dollar

Gold slid at Asian trade on Tuesday as traders turned to the traditional Euro Zone's uncertainty hedge, the US Dollar, after results of the weekend's elections raised risk of the region falling back into recession. COMEX gold June contract traded at 1,637.85 US Dollars per troy ounce on the New York Mercantile Exchange, declining by 0.08%.

Tue, 08 May 2012 08:10:07 GMT

China accounts for 15% of world's trade

China, being the second largest economy, now accounts for about 15% of the world's trade volume, according to Chen Deming, Minister of Commerce. The country's trade is more balanced this year as compared to 2011, he added. The minister also expects soft landing for China as shift to slower pace of development without significant challenges is highly possible.

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