Russia and Iran agreed on using national currencies for trade

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Source: Commodityonline

Russia and Iran agreed to use their national currencies for conducting trade between them rather than using the USD. The move follows fresh sanctions imposed by the US and the EU on the Iranian oil exports. Russia claims the sanctions are unacceptable and the nuclear issue can be resolved through negotiations.

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Tue, 10 Jan 2012 07:49:37 GMT

Chinese import growth slips in December

China's import declined hitting two-year record low in December, stressing a slowdown in world's second biggest economy. Imports added annual 11.8% in December less than was predicted by analysts earlier. Exports surged 13.4% widening the trade surplus to $16.5 bn. Timothy F. Geithner, Treasury Secretary, is expected to reintroduce pressure for a stronger Chinese Yuan.

Mon, 09 Jan 2012 16:38:18 GMT

Angela Merkel: deal for second Greek bailout has to be concluded soon

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