News magazine Der Spiegel cited a new poll for the German Chambers of
Commerce and Industry (DIHK) among 3,200 firms forecasting a four-percent rise
in exports in 2012.
The figure was down slightly from the average over the last 10 years of nearly six-percent growth in exports, traditionally the backbone of Europe's top economy, Der Spiegel said.
Link (submitted by Japhet)
Taiwan is trying to cut its crude oil imports from Iran after the US expressed its wish for Taiwan’s inclusion in a collaborative international sanctions scheme to curb Iran’s nuclear program, sources told the Taipei Times yesterday.
The US and the EU last month approved sanctions on imports of Iranian crude oil and a freeze of assets of the Iranian central bank, agreeing on a July 1 deadline for countries to end their oil contracts with Iran.
Link (submitted by Anna)
Taiwan stocks clinched a four-day winning streak yesterday, while the New Taiwan dollar surged, as investors became more upbeat over the economy of Taiwan as well as the rest of the world.
Taiwan share prices rose further yesterday amid improved sentiment after China, the United States and Germany reported expansion in their manufacturing activities, dealers said.
Link (submitted by Anna)
NO matter what list you use for the world’s top airports, Asian ones feature at the top of these lists year after year. What’s remarkable about these airports is not just their quality and facilities, but they have some of the largest passenger numbers passing through and yet they retain such a high level of service, cleanliness and luxury.
In fact in the 2011 report compiled by Skytrax, four out of the top five airports were in Asia. Using their list as a guide let’s take a look at the first five in the top 10 that are in this Asia/Pacific region.
Link (submitted by Johannes)
Europe's biggest economy exported €1.06 trillion ($1.4 trillion) in the whole of last year, exceeding the one-trillion mark for the first time, the national statistics office Destatis said in a statement. Imports also rose to a record €902 billion.
Exports declined by 4.3 percent in December alone to their lowest level since April, as the effects of the region's debilitating debt crisis increasingly made themselves felt, the data showed.
And with imports also falling by 3.9 percent, Germany's trade surplus - which had ballooned to €158.1 billion throughout the whole of 2011 - contracted to €13.9 billion in December.
Link (submitted by Japhet)
After joining the World Trade Organization, Russia will have to start taxing some agricultural products that are now exempt, a top government official said Thursday.
The government encourages cultivation of several types of produce by waiving value-added tax. Maxim Medvedkov, chief of trade negotiations at the Economic Development Ministry, said the tax will have to be levied on these products so Russia doesn't discriminate against imports.
For example, "if VAT for our carrots is zero, it should be zero for the imports," he said.
Link (submitted by Sun Jin)
Amid the upheavals that have roiled the Middle East this year the United Arab Emirates has remained an island of stability — an achievement that has paid dividends as business and tourism have fled neighboring unrest to refocus on the federation.
The allegiance of emiratis — who make up an estimated 20 percent of the 8.26 million population — to their rulers is underpinned by a social pact in which they receive benefits including free health care, education and even housing, along with guaranteed monthly salaries and subsidized food and fuel, paid for from the federation’s vast oil revenues.
Link (submitted by Jordan)
Sweden once again change places with Singapore in the Global Competitiveness Report as we are placed third behind Switzerland (1) and Singapore (2).
Northern and Western European countries dominate the top 10 with Sweden (3rd), Finland (4th), Germany (6th), the Netherlands (7th), Denmark (8th) and the United Kingdom (10th). Japan remains the second-ranked Asian economy at 9th place, despite falling three places since last year.
Link (submitted by Richard)
At present, one out of every four businesses in Sweden is run by a woman, and women account for 32 per cent of new business start-ups. This means that there is great growth potential for women's entrepreneurship. The Government wants to improve the opportunities for women to start, develop and run businesses in order to unleash the growth potential for women's entrepreneurship.
Link (submitted by Richard)
On January 1, hundreds of new laws came into force. Most will have little effect on everyday life – the biggest changes are in the social security system.
According to the Federal Health Office, in 2012 health insurance premiums will go up by an average of 2.2 per cent for adults and 4.4 per cent for 19- to 25-year-olds. For most people this will translate into several hundred francs per year.
Link (submitted by Leo)
The number of Serbian asylum seekers, generally Roma, has peaked in Switzerland in recent months.
This “winter tourism” can be explained by the worsening quality of life for this persecuted community not only in Serbia but also in Kosovo.
Link (submitted by Leo)
MANILA, Philippines - It’s now all systems go for AirAsia Philippines, a company partly owned by businessman Antonio O. Cojuangco and port operator Michael Romero, whose maiden commercial flight could not push through earlier due to the absence of a critical government permit.
The Civil Aviation Authority of the Philippines (CAAP), after much delay, granted AirAsia Philippines its airline operating certificate (AOC) that would allow it to fly commercially out of the Diosdado Macapagal International Airport (DMIA) in Clark, Pampanga.
Link (submitted by Quirino)
Four key players in South African mining, taking part in a debate hosted by the Financial Times and facilitated by Brand SA, acknowledged that the sector is faced with major challenges, but agreed that SA mining is "open for business".
Deputy Mineral Resources Minister Godfrey Oliphant, Chamber of Mines CEO Bheki Sibiya, BHP-Billiton chair Xolani Mkhwanazi and SA Mining Development Association (Samda) chair Peter Temane took part in the debate in Cape Town on Sunday on the eve of the 2012 Investing in African Mining Indaba conference.
Link (submitted by Andrew)
DUBAI — The United Arab Emirates is moving ahead with a major overhaul of corporate law to introduce unified accounting standards for all businesses, amend guidelines for share offerings in local capital markets, and extend the possibility of foreign majority ownership of companies nationwide.
Currently, foreigners are not allowed to own more than a 49 percent stake in businesses outside specially designated free zones and only large — usually public — businesses are held to international accounting standards.
Link (submitted by Jordan)
Seven English NHS hospital trusts with debts caused, in part, by private finance initiative repayments are to have access to a £1.5bn government bailout fund, it has been announced.
The subsidy will be available over the course of 25-year long contracts.
Link (submitted by Will)
Mandatory Provident Fund is intended as a future piggy-bank for Hong Kong people during their retirement years. But it doesn’t always mean we have to wait until we reach 65 to get our life-long savings.
Previously, only a few other cases were good enough to warrant to permit withdrawal of funds earlier than the normal retirement age. These include death, total disability, early retirement a 60 and having small balance in the account. Terminally ill patients may be included in the list as it makes full sense for patients to take their money. Not only because no one else deserves them but also it is expected that taking care of a terminally ill patient incurs a significant amount of money.
Link (submitted by Johannes)
Mountains, lakes, cathedrals. Visitors to Switzerland are being encouraged to discover sites of spiritual significance alongside other attractions.
The Swiss churches have joined forces with Switzerland Tourism to launch “Switzerland’s Religious Landscape”, aimed at providing Swiss and foreign visitors with an overview of the country’s religious heritage.
Link (submitted by Leo)
Russia will soon become one of the world’s top five economies, Prime Minister Vladimir Putin said at the Russia 2012 Forum.
Russia finished off 2011 with a good economic outcome, showing off a 4% GDP growth and a record low inflation rate (6.1%), compared to the past two decades.
Most independent experts have placed Russia into top five of economies with a high potential for direct foreign investments.
Link (submitted by Sun Jin)
Brazilian President Dilma Rousseff is making her first official visit to Cuba with the emphasis on fostering business ties.
Communist-run Cuba, under US trade sanctions for 50 years, has seen some economic reforms under Raul Castro.
Link (submitted by Kara)
The display of calorie information on menus is set to become widespread in fast-food outlets and cafés across Ireland as part of a new initiative to combat obesity.
Minister for Health Dr James Reilly today opened a consultation process on the issue, which will canvass opinions on the best way of putting calorie information on menus. And restaurants will have to comply with the recommendations whether they want to or not.
Link (submitted by Lauren)
