Dollar to dominate through 2020

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Source: Marketwatch

The US currency is likely to stay at the dominating position through 2020, said an adviser to Chinese central bank. The yuan is likely to contribute about 3%-5% of the world reserves by 2020, according to Xia Bin, adviser to the People's Bank of China.

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Mon, 19 Dec 2011 14:41:55 GMT

Technicolor to cut 600 jobs

Technicolor plans to cut about 600 jobs with charges amounting €100 million. The measure signals on the weak demand for Digital Delivery services that is expected to report about €39 million loss before taxes, interest, depreciation and amortization. The company announced it accelerated its cost-reduction strategy due to bleak macroeconomic outlook in Europe.

Mon, 19 Dec 2011 14:21:45 GMT

India accepts bill for cheap food for poor

The government of India approved the bill that will provide cheap food for poor people who constitute over a half of the Indian population. The Food Security Bill is aimed at supporting 75% of residents in the rural areas and more than a half of urban population. The measure is worth $19bn and will be implemented by phases.

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