Europe

Manuel criticises government

Trevor Manuel

Government of South Africa has adequate funds but still it is unable to help poor, watching this scenario, Planning Minister Trevor Manuel criticizes government. Recently he had attended an International Consultative seminar in Cape Town along with MPs from the European Union and South Africa, where he criticized government has raised questions about his future in government.

He begins with an angry letter which he wrote to the newly appointed government spokesperson, Jimmy Manyi, whom he called a racist of the worst kind for his justification of proposed changes to labour laws.

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Likely appearance of BATS Chi-X Europe group in derivatives trading

BATS Global Markets

BATS Chi-X Europe, the new group of pan-European stock-trading being set by BATS Global Markets’ acquirement of Chi-X Europe, is looking for probably introducing new podium for derivatives trading as declared by a senior executive of BATS.

BATS Europe Chief Executive Mark Hemsley said in an interview to Dow Jones Newswires that derivatives will be quite interesting for them.

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Gold sinks to 7-week low on Europe debt hopes

Euro currency

The value and the price of gold fell to a lowest price in seven weeks based on the speculation that EU leaders would actually stabilize the economy of the region thus eroding all the appeals of metals as haven. The Euro currency was headed for the largest currency gain as opposed the dollars since May 2000.

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Africa’s largest packaging group Nampak will sell off its European paper business for $103 million

Nampak Ltd

The largest packaging group of Africa, Nampak Ltd (NPKJ. J: Quote), will dispose off its European paper business to Maximus Holdings, a company in Luxembourg for one hundred and three million dollars for repaying its loans and shedding underperforming units.

It has been stated by Maximus, the firm which supplies milk bottles to the UK and runs business in many African countries that for an amount of net sixty five million pound it will dispose off its business to the unlisted company Maximus.

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European Union got condemned by WTO on Chinese imports

Chinese imports

On Friday The European Union got condemned by the World Trade Organization for antidumping tariffs on imports it made of Chinese crews. From the incident China got its biggest legal victory as yet at the WTO based in Geneva. According to officials of the EU it was a setback for them.

According to legal experts this happened as China hire top-notch trade lawyers as a part of its effective strategy to fight foreign import tariffs. The country also lobbies heavily in the headquarters of the WTO at Geneva.

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Wal-Mart wants to grow in countries like Brazil, China

The International Chief Executive officer of Wal-Mart Stores Inc, Doug McMillon stated that the biggest retailer of the world can see more growth potential in the developing markets than in European countries.

While giving an interview in the program called In Business of Bloomberg Television McMilion was found stating that China is on the top of the list with Brazil taking up the second place. He further stated that Wal-Mart Stores Inc a retail firm based on Bentonville of Arkansas is waiting patiently to pave its path of expansion in Russia.

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Oil climbs up to reach two-week high after European Union’s approval of Ireland bailout

On Monday oil went up to reach eighty four dollars per barrel after it was decided by the European Union that they would bail out Ireland and moreover a permanent system has been etched out by them to sort out the debt crisis of euro zone. These steps taken by the European Union raised confidence that the growth of energy demand will be flexible next year.

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Euro continues to fall

Euro

On Tuesday the euro once again got pressurized in Asia with political unrest in Ireland and woes of other adjacent euro zone countries wiped out the initial optimism of Ireland’s bailout program.

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Scientists said that plague originated from China

Scientists said that plague originated from China

Scientists opined that the first outbreak of plague occurred more than two thousand six years ago in China. The study of the disease’s DNA signature confirmed that and stated that the disease came to Europe from China via the trade route dubbed “Silk Road”.

With the findings the long-held doubts that plague originated from China came to an end. The disease in the middle ages has claimed almost one third of the total population of the Europe in the form of epidemic.

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