China's Industrial Companies Profits decline

Note: This section contains information in English only.
Source: Bloomberg
Profits of Chinese industrial companies shrank for a second consecutive month in May owing to economic slowdown. According to the National Bureau of Statistics, income declined by 5.3% from 2012 to USD61 billion. It is expected that the Chinese government may introduce measures to foster economic growth by stabilizing international trade and investing in infrastructure development. 
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Fri, 29 Jun 2012 07:25:25 GMT

Eurozone agreed on direct bank aid

EU leaders agreed to use financial resources of the Eurozone's bailout fund to backup banks directly, without increasing sovereign debt. Eurozone-wide body to supervise the banks also was established, said Herman van Rompuy, EU chief. Experts claim that persistent worries over Italy's and Spain's economic instability finally persuaded Angela Merkel to shift to more growth-boosting strategies. The project is expected

Fri, 29 Jun 2012 06:51:28 GMT

The Euro rallied on the positive news coming from the EU summit

Following the decision of European leaders to ease Spanish debt terms, the Euro soared against its major counterparts. The European shared currency jumped 1.1 percent to  1.2579 US Dollars and surged 0.9 percent to 99.77 Yen. The EU officials are meeting in Brussels to discuss measures to combat the debt crisis, which forced five Eurozone members to seek bailouts. 

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