Invest In EU News

  • Estonia Government Predicts 7% GDP Growth for 2011

    Though the Ministry of Finance has yet to release its official prognosis for the nation's economy, Prime Minister Andrus Ansip said on September 1 that there are no surprises in store and that the government's forecast for this year's GDP growth is an even 7 percent.

    "Forecasts published yesterday by commercial banks concluded that this year's economic growth would be higher than expected, but next year the growth will start to decline. The Ministry of Finance is of the same opinion," Ansip said at this week's Cabinet press conference.

  • July 2011 Euro area unemployment rate at 10.0% EU27 at 9.5%

    The euro area1 (EA17) seasonally-adjusted2 unemployment rate3 was 10.0% in July 2011, unchanged compared with June4. It was 10.2% in July 2010. The EU271 unemployment rate was 9.5% in July 2011, unchanged compared with June4. It was 9.7% in July 2010.

  • Final assessment of the 6th Environment Action Programme shows progress in environment policy – but with shortfalls in implementation

    Brussels, 31 August 2011 – Over the past decade the 6th Community Environment Action Programme (EAP) has helped environment legislation to tackle almost all areas of the environment. This is evident from the final assessment of the 6th EAP (2002-2012) adopted today. Major accomplishments in the field of environment during the past ten years have been the extension of the Natura 2000 network to cover almost 18% of the EU's land area, the introduction of a comprehensive chemicals policy, and policy action on climate change.

  • EU reaffirms its support to peace and security in Africa with €300 million

    Brussels, 31 August 2011 - The European Commission has decided to replenish the African Peace Facility (APF) with €300 million to support African peace and security actions both at regional and continental levels. The funding will be available to the African Union and African Regional Organisations for the period 2011-2013 in order to support relevant, targeted, continental and regional initiatives in the area of conflict prevention, management and resolution, and peace building.

  • Kiehl’s plans to expand its Finnish operation in the Helsinki metropolitan area and possibly on the web

    Cosmetics chain Kiehl’s has opened its first store in Finland at the Kämp Galleria shopping centre in Helsinki. Originally established in New York’s East Village in 1851, Kiehl’s now has more than 130 stores in over 40 countries and is owned by the French cosmetics company L'Oréal.  L’Oréal’s turnover in 2010 was EUR 19.5 billion, making it the world’s biggest cosmetics company.

  • Electronic identification of bovines to further strengthen food safety and animal health in the EU

    Brussels, 30 August 2011 – The European Commission today adopted a proposal that will, when implemented, further enhance food safety and better safeguard animal health in the EU.

  • Digital Agenda: EU funded project aims to make self-service terminals more accessible for all

    Brussels, 30 August 2011 - An EU-funded project is aiming to make self-service terminals, such as public transport ticket vending machines or public information kiosks and cash dispensers, more accessible for the one in six Europeans who have a disability or the 87 million Europeans aged 65 and over. According to an EU study, only 38% of bank cash machines (automated teller machines or ATMs) across the EU provide voice capabilities to customers with disabilities, far behind the US (61%) and Canada (nearly all ATMs).

  • Economic sentiment down further in both the EU and the euro area

    Brussels, 30 August 2011 - In August, the Economic Sentiment Indicator (ESI) declined by 5.0 points to 97.3 in the EU and by 4.7 points to 98.3 in the euro area. This decline resulted from a broad-based deterioration in sentiment across the sectors, with losses in confidence being particularly marked in services, retail trade and among consumers. Only the construction sector in the euro area recorded an improvement.

  • Business Climate Indicator down further in the euro area

    Brussels, 30 August 2011 - The Business Climate Indicator (BCI) for the euro area fell for the sixth month in a row in August 2011. The current level of the indicator remains positive, but the steady fall observed since March suggests that euro-area industry has entered a phase of growth moderation.

  • Flybe Nordic enters budget airline market in Finland and Nordic countries

    Owned by Flybe and Finnair, newly formed Flybe Nordic takes over routes formerly operated by Finncomm and strengthens position in Nordic and Baltic countries.

  • The Finnish research and technology company expands Arbitron’s technology portfolio and global footprint.

    The international media and marketing research firm Arbitron Inc. has acquired Zokem Oy, a Finland-based mobile audience measurement and analytics firm for about USD 11.7 million. Zokem provides custom and syndicated mobile research panels, plug-and-play mobile media measurement tools and software building blocks for mobile device tracking to the leading companies in the marketing research, wireless, Internet, media and marketing industries.

  • Mergers: Commission clears acquisition of US specialty chemical company Lubrizol Corporation by Berkshire Hathaway

    Brussels, 25 August 2011 - The European Commission has cleared under the EU Merger Regulation the proposed acquisition of sole control of Lubrizol by Berkshire. The Commission concluded that the transaction would not raise competition concerns, because of the parties' moderate market shares and the presence of a number of credible competitors in the markets concerned. The Commission examined the competitive effects of the proposed acquisition in the affected markets for the sale of acrylic emulsions, glass fibre products, DBSAM and decorative coatings.

  • Commissioner Georgieva pledges support for African governments to break the vicious circle of drought and hunger in the Horn of Africa

    Brussels, 25 August 2011 - To act fast, to give generously and to work together are the essential conditions for containing the famine, refugee and drought crises in the Horn of Africa. But African countries must also take long-term measures, with the support of the international community, to ensure that drought does not equal famine again.

  • Corporate governance: companies need more flexibility if they are to thrive and survive, says EESC

    Corporate governance: companies need more flexibility if they are to thrive and survive, says EESC
    EESC hearing in Sofia on 2 September 2011

  • Samsung selects Finnish universities for SAIT GRO research funding

    Aalto University’s medical research and Tampere University of Technology’s Future IT research are among the leading universities in the world selected for SAIT GRO funding.

  • Finnish timber housing has excellent market potential

    Timber apartment blocks could have a 10% market share by 2020 and also have good export potential, according to Mika Airaksela, managing director Rakennusliike Reponen Oy.

  • Invest in Denmark's International Business Seminar 2011 will shed new light on the cross section between Life Sciences and ICT

    On 14 September Invest in Denmark will host its yearly International Business Seminar in Aarhus with a focus on new business opportunities in the cross section between Life Sciences and ICT – an area where Denmark has the potential to develop an international cluster and attract new investments to the country. 

  • Mergers: Commission clears acquisition of Amprion by Molaris and Commerz Real

    Brussels, 23 August 2011 - The European Commission has cleared under the EU Merger Regulation the proposed acquisition of joint control over the German electricity transmission system operator Amprion by real estate group Molaris and asset management group Commerz Real, all from Germany. Amprion is currently solely controlled by German RWE which is active in the electricity and natural gas markets.

  • Tunisia: European support of €110 million for economic recovery

    Brussels, 23 August 2011 – Today the European Union (EU) approved two new financial assistance programmes for Tunisia, for a total of €110 million. These two programmes are part of the additional aid being provided by the EU to Tunisia following the January 2011 revolution, aimed at supporting the political and economic transition by improving economic and social conditions and developing new sources of employment.

  • Moody's Upgrades Bulgaria's Debt Ratings, Praises Sofia's State Finances

    Moody's Investors Service has upgraded Bulgaria's government debt ratings to Baa2 with a stable outlook from Baa3 in a long-anticipated review.

    According to a statement on the website of the international credit rating agency signed by Kristin Lindow, Senior Vice President, Sovereign Risk Group, Moody's Investor Service, the improvement reflects Bulgaria's ongoing fiscal discipline and improving institutional strength as well as the financial system's relative resilience in a volatile regional environment.

  • Palestinian people and local business at the heart of the Commission's new assistance package

    Brussels, 22 August 2011 - The European Commission today announced additional financial support to the Occupied Palestinian Territory for state-building, water-management and sanitation, as well as education and health services for refugees.

    The €115 million package will also comprise financial assistance to businesses in the West Bank, helping to create jobs and generate growth in the area. The United Nations Relief and Works Agency for Palestinian Refugees (UNRWA) will benefit through a € 40 million share of the new funding.

  • EU Globalisation Fund support for workers increases three-fold in 2010 to over € 83 million

    Brussels, 22 August 2011 – Nearly 23 700 workers dismissed due to economic crisis and major structural changes in world trade patterns were helped by the European Globalisation Adjustment Fund (EGF) last year, according to a report adopted today by the European Commission – more than double the number of workers helped by the Fund in 2009. The €83.5 million paid out by the EU's Globalisation Fund to nine Member States are intended to help the national authorities as they support dismissed workers in finding new job opportunities.

  • North and east Finland are among the most promising areas for rare earth metals in the EU

    The ongoing mining boom in Finland may accelerate to a whole new level over the next few years as the international interest in rare earth metals intensifies. Finland’s bedrock is viewed as unusually promising for the occurrence of rare earth metals. At least 60 different companies have explored rare earth metals in north and east Finland during the past five years, according to Lauri Ojanen, principal of University of Oulu.

  • ADM to Acquire Rapeseed Processing and Biodiesel Company in Poland

    Archer Daniels Midland Company announced Friday another important step in the expansion of its oilseed processing, food manufacturing and biodiesel capabilities with the signing of an agreement to purchase a majority share of Elstar Oils S.A.

    A Warsaw-listed company, Elstar is a leading Polish manufacturer of quality refined vegetable oils and fats for the food industry, and biodiesel for the energy market. The purchase is subject to approval by relevant antitrust authorities.

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