The Dutch government is asking the European Commission to look at other ideas rather than its proposed tax on financial trades. The Netherlands Bureau for Economic Policy Analysis, the Dutch financial markets regulator AFM and the Dutch central bank have all concluded that the tax would hurt their economy. As Dutch Finance Minister Jan Kees…
Category Archives: Regional News
China Invests in Europe Bailout Fund
Good news for Europe as China decides to invest in the region’s bailout funds and maintain its holdings of euro assets. As a result, currency gains have already become apparent, while Asian stocks also increase thanks to a more optimistic outlook. “China will always adhere to the principle of holding assets of EU sovereign debt,”…
Russia-Cyprus Ties Boost Economies
According to Russian Ambassador Vyacheslav Shumskiy, Russia and Cyprus have managed to restore pre-crisis trade and economic cooperation levels. Last year, the countries’ economic ties reached $1.3 billion. Over the past 20 years, “the gross investment volume between our countries reached one hundred billion dollars and this is a very impressive figure,” the ambassador said…
Robert Horrocks on Greece’s Bailout and Global Economy
Yesterday, Greece missed yet another deadline for a new bailout, boosting investors’ concerns across the globe as the chances of EU-IMF aid fade. Still, Chief Investment Officer of Matthews Asia Robert Horrocks believes Greece should be treated like a “sideshow,” claiming that a default would not have such a dramatic effect on global economy. “We…
European Investment Bank Gives $1.4 Million to Geothermal Energy in Caribbean
Amid debt crisis talks and concerns of a splitting Eurozone, the European Investment Bank has announced that it will donate $1.4 million in geothermal energy grants in the Caribbean. The project hopes to replace fossil fuels with geothermal renewable energy. The funds will help boost preparations for testing of potential electricity generation as well as…
Luxembourg Expects Large Investments in 2012, Strengthens Ties with Dubai
Luxembourg officials recently shared that the country plans to draw significant investments from the Gulf region and the UAE. “Europe has its share of crises. It is enormous in nature, but it is too early to write it off as an investment destination. The continent has huge investment opportunities. I am sure a number of…
Asian Businesses Eye Investment Opportunities in Europe
A recent survey has revealed that unlike North American investors, Asian businesses see strong investment potential in European corporations as the Eurozone debt crisis exposes unique opportunities. In fact, 45% of Asian business executives revealed plans to invest in 2012, while three quarters agreed there is potential. U.S. and Canadian leaders, on the other hand,…
The EU’s Oil Embargo and Future Oil Supplies
European Union foreign ministers have closed on an embargo on Iranian oil imports to the EU, which will go into effect on July 1st of this year. Now, the European Commission is seeking alternative oil supply sources. “I understand that the embargo only affects oil- thus European refiners will have to look for alternative oil…
Germany and France Support Financial Transaction Tax, Building Pressure for Britain
The Daily Telegraph recently revealed that France and Germany believe the financial transaction tax, proposed as a means to alleviate some of the region’s pressure, is in fact the first step towards the EU’s new power. The Franco-German paper that discusses the issue claims that “European institutions and member states should accelerate the process of…
Japan’s Concerns Heighten as France, Other EU Countries Downgraded
As Standard and Poor’s downgraded several EU countries, Jun Azumi, finance minister of Japan, voiced his growing concerns. “Unless Japan shows that we are swiftly securing stable financial conditions and rebuilding fiscal policies… it will be us next time,” he said. Azumi was not, in fact, the only person to express trepidation. Nine EU countries…
