Western countries against Iranian nuclear program

Note: This section contains information in English only.
Source: BBC
© Scanpix/AP

US, UK and Canada imposed sanctions on Iran as there are growing worries about Iran's nuclear program. UK's banks were forced to discontinue all financial transactions with Iran's credit institutions while Canada plans to ban some exports from Iran like oil and gas. UN report states Iran develops a nuclear weapons; however, Iran claims the nuclear program is only for civil purposes. China and Russia do not support Western countries; Russia considers sanctions as contrary international law.

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Tue, 22 Nov 2011 09:26:32 GMT

European stocks climb on US credit rating

On Monday trading session European stocks recovered from 6-week low as rating companies restated the US credit rating. Stoxx Europe 600 Index gained 0.9% to 226.77 in London morning trading session after experiencing loss of 3.2% yesterday. Mining companies boosted index with Xstrata Plc (XTA) and Antofagasta Plc (ANTO) both adding 2%.

Tue, 22 Nov 2011 09:29:24 GMT

Largest coal exporter is against changes in Australian mining tax law

Xstrata PLC., the world largest coal exporting company, expressed concerns regarding some new details included in a draft of the mining tax law in Australia. The law was discussed earlier by the Australian government and the largest coal miners. However, small companies complained the tax gives advantages to large producers and decreases the tax revenue for the government.

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