As the US Congress is set to vote on a debt-handling deal proposed by Obama with huge spending cuts in the offing, it created waves across the global markets. The move has provided relief as fears of default have ceased. The Senate could vote on the proposed legislation on Monday; after which the bill would go to the House of Representatives (Congress). After weeks of deliberations, Obama finally declared: 'This process has been messy and taken too long.' The Nikkei 225, which rose as much as 2 percent, finished 1.3 percent higher at 9,967.01 points, on news of US President announcing the deal. The proposal has yet to go through House and Senate.. REad More>>>
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