INDUSTRIAL PRODUCTION in the EU decreased by 1.7% in the euro area in December 2009 compared to November 2009, and by 1.9% in EU-27 for the same period. Moreover, despite the upswing in growth of 1.4% and 0.9% respectively that occurred in November, this has not transcribed into a lifting of EU industrial production out of the economic recession. Nonetheless, non-durable consumer goods (including food and drink products) grew by 1.0% and 0.3% respectively.
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The liberalization of the gas market has failed to achieve the much hoped-for diversification of sources and to ensure the security of supply. Alternative pipelines, such as Nord Stream and Nabucco (if completed successfully), will contribute to provide durable solutions but before they become operational, precautionary steps need to be adopted to prevent a repeat of crises such as the January 2009 crisis, argues the European Economic and Social Committee (EESC) in its opinion on the issue adopted on 20 January.
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Output by the food and drink industry decreased in the last trimester by 1.04% for EU-27 and 0.69% for the euro area respectively when compared to figures for the previous trimester.
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Russian meat production is expected to surge 6 percent to reach 10.5 million tons. The Russian government has increased its funding on domestic meat producers, particularly on poultry meat producers, said the report, aiming to meet domestic demand while realizing meat exportation.
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After rounds of consultations, U.S. poultry meat will soon return to Russia under the conditions set by Moscow, a Russian daily newspaper reported on Friday.
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This year could see about 35 Russian companies raising money through IPOs, however the plan could be complicated by the strict Russian market regulations.
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The government will launch a billion dollar program to support the mortgage market with part of the country’s pension fund, provided banks provide mortgages at no more than 11%.
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British Minister of State for Europe Christopher Bryant has given an interview with Interfax in which he discussed EU-Russian and British-Russian visa arrangements, criticized Russia’s new military doctrine, and pledged not to stand in Ukraine’s way to the European Union.
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Russia is not just oil, gas or timber but 142 million buoyant buyers. Who will have the right of first access to this vast customer base? That is the question. And it is a question of big money and big politics.
Though well aware of their huge natural resources, Russians have so far been oblivious of their main treasure, themselves. Quite unlike neighbouring China, for example, which has never forgotten the true value of its consumers. The Chinese government used to prohibit foreign investments in retail and only gave up this restriction recently as part of its entrance fee for the WTO membership.
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The liberalisation of the gas market has failed to achieve the much hoped-for diversification of sources and to ensure the security of supply. Alternative pipelines, such as Nord Stream and Nabucco (if completed successfully), will contribute to provide durable solutions but before they become operational, precautionary steps need to be adopted to prevent a repeat of crises such as the January 2009 crisis, argues the European Economic and Social Committee (EESC) in its opinion on the issue adopted on 20 January.
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Both VTB and Sberbank are ready to start lending to developers this year, particularly those constructing residential housing, and VTB alone is planning to offer builders as much as $1.2 billion in 2010.
State-run VTB Group is planning to loan between 20 billion rubles and 35 billion rubles ($662 million to $1.16 billion) to developers this year and is already in talks on a $400 million deal, senior vice president Pavel Kosov said last week, Prime-Tass reported.
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Retail sales rose for the first time in a year in January as slowing inflation and higher wages boosted household spending, the State Statistics Service said.
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Bucharest has given Russian gas monopoly Gazprom all the documentation relevant for building the South Stream pipeline through Romanian territory, it was announced yesterday (18 February).
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The deficit of Russia’s federal budget could increase to 7.2% of the country’s gross domestic product (GDP) in 2010 from 6.8% projected earlier.
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