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Powerful Clusters: Main Drivers of Europe’s Competitiveness

added: 20-10-2008

Competitive clusters are powerful engines of economic development and drivers for innovation in the European Union. They provide a fertile business environment for companies, especially Small and Medium sized Enterprises (SMEs), to collaborate with research institutions, suppliers, customers and competitors located in the same geographical area.

Fitch Revises Hungary's Outlook to Negative

added: 20-10-2008

Fitch Ratings has revised the Outlooks on the Republic of Hungary's Long-term Issuer Default ratings (IDRs) to Negative from Stable. Its ratings are affirmed at foreign currency IDR 'BBB+', Short-term foreign currency IDR 'F2', and Long-term local currency IDR 'A-' (A minus). Its Country Ceiling is affirmed at 'A+'.

Euro Area Securities Issues Statistics in August 2008

added: 19-10-2008

The annual growth rate of the outstanding amount of debt securities issued by euro area residents increased from 7.1% in July 2008 to 7.6% in August. For the outstanding amount of quoted shares issued by euro area residents, the annual growth rate was 0.8% in August 2008, compared with 0.7% in July.

EU Environment: Commission Unveils Important Initiatives To Protect Forests Globally

added: 19-10-2008

The package comprises a legislative proposal to reduce the risk of illegal timber and timber products entering the EU market and a Communication setting out the Commission's proposals for tackling tropical deforestation.

EU to Restore Import Customs Duties on Cereals

added: 18-10-2008

Mariann Fischer Boel, Commissioner for Agriculture and Rural Development, announced that customs duties on cereals imports will be reintroduced as a reaction to the price decrease on the cereals market.

Euro Area External Trade Deficit 9.3 bn euro in August 2008

added: 17-10-2008

The first estimate for the euro area (EA15) trade balance with the rest of the world in August 2008 gave a 9.3 bn euro deficit, compared with +1.5 bn in August 2007. The July 2008 balance was -2.0 bn, compared with +5.3 bn in July 2007. In August 2008 compared with July 2008, seasonally adjusted exports fell by 0.6% and imports by 1.0%.

Construction Output up by 0.1% in the Euro Area in August 2008

added: 17-10-2008

In the construction sector, seasonally adjusted production increased by 0.1% in the euro area (EA15) but decreased by 0.2% in the EU27 in August 2008, compared with the previous month. In July, production grew by 0.1% and fell by 0.8% respectively.

EU: Commission Adopts Changes To Mitigate Consequences Of Financial Turmoil

added: 17-10-2008

The European Commission has adopted amendments to accounting standards, with the unanimous support of Member States. The changes to the accounting standards are intended to mitigate the consequences of the recent turbulence in financial markets. These amendments ensure that EU companies have the same flexibility as their American competitors to reclassify assets held-for-trading into the held-to-maturity category.

Climate Change: Projections Show EU On Track To Meet Kyoto Emission Targets

added: 17-10-2008

The EU and most member states are on track to deliver on their Kyoto Protocol commitments for reducing or limiting emissions of greenhouse gases, the Commission's annual progress report on emissions shows.

EU: Emergency Services In Poland Now Receive Caller's Location For 112 Mobile Calls

added: 17-10-2008

The European Commission closed an infringement case against Poland for the lack of availability of caller location after the Polish authorities confirmed that it has been available for calls to the European emergency number 112 since 30 June. Under EU rules, Member States must ensure that operators provide emergency centres with the location of people calling 112 from fixed or mobile phones.

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