Yuan appreciation decelerates

Note: This section contains information in English only.
Source: China.org.cn
© Scanpix/Reuters

China's banks reported weaker yuan position for the first time in four years. The outflow indicates that investors' sentiment was impacted by projected slowdown of the China's economy. FDI decreased by 25% in Q3 to $35.9 billion and trade surplus narrowed accounting less than 1.6% of GDP in 2011. Experts project depreciation of the yuan in the following two years.

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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 13:49:11 GMT

Western countries against Iranian nuclear program

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

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