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Greece modifies DEPA privatisation terms to accommodate Gazprom source
ATHENS (Reuters) - Greece agreed to change some terms in the planned privatisation of natural gas distributor DEPA, opening the way for Russian energy giant Gazprom (GAZP.MM) to bid for the firm, a senior official directly involved in the sale ...
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Riots prompt focus on Swedens poor immigrant suburbs
Almost a week of rioting in parts of Stockholm has highlighted social problems among the mainly immigrant communities in poor areas of Swedish cities. Heavy police reinforcements meant Friday night was relatively calm, but there was still some violence for the sixth night running. For the first time there was also trouble, notably arson attacks, outside the capital. The rioting is not on the ...
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Survey reveals parents pay €15k to child minders
According to a new survey parents are paying as much as EUR15,000 a year to child minders.A report complied by the Irish Independent reveals the extent of the burden on Irish families to meet childcare costs.The findings shows the cost of childcare is forcing many women to give up their jobs or work part-time.The survey outlines the wide variation in fees charged across the country with parents ...
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Russia wants US to pay for astronaut flights to Space Station
Russia will ask the United States to contribute more toward the costs of flying US astronauts to the International Space Station (ISS), a spokesman for the Russian space agency said Thursday.Roskomos spokesman Vyacheslav Davydenko told AFP that since the US space shuttles stopped supplying the jointly manned station in the wake of the February 2003 Columbia disaster Russia had been shouldering ...
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Experts predict next European pensions market trends
Realistically, it is unlikely that Europe will see the evolution of a pan-European pensions market within the next ten years, say leading pension experts in a survey by Allianz Global Investors AG (AllianzGI). With the vast majority of European pension schemes shifting towards defined contribution (DC), cost calculability has been at the forefront of these amendments, said AllianzGI. ...
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Mercer expands its services to wealth managers across Europe
European wealth managers can now benefit from Mercer’s expertise with the launch of a new service aimed specifically at private banks, family offices, fund platforms and insurance ...
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Europe’s retirement provisions insufficient to serve ageing populations
Long-term savings provisions in Europe are flawed and are no longer able to meet the needs of ageing populations, finds the Janus Capital European Consumer Finance Survey. The study, which is the first of its kind into the European household balance sheet, shows that there are alarming deficits in levels of personal savings and retirement provision across Europe. While consumer hopes and ...
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Aviva sets out plans for European business
Aviva is set to transform its European business by taking full advantage of the growth opportunities presented in the area, and will be integrating its businesses across Europe. In a review of its current presence in Europe, Aviva recognised that the European market offers strong growth potential, with the region’s personal financial assets standing at €40trn, and an ...
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UCITS funds back in European investors’ favour
Investors across Europe are moving back into UCITS funds, said the European Fund and Asset Management Association (EFAMA) at its Annual Conference. UCITS sales, which hit €92bn between January and July 2009, have continued to show positive results across 26 European countries. The conference also saw the launch of EFAMA’s seventh edition of ...
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Pension funds add €25bn to portfolios
Positive revaluation of investments and favourable price movements of financial assets have added €25bn in value to Dutch pension funds’ investment portfolios in the second quarter of 2009, according to De Nederlandsche Bank (DNB). The investment portfolios now stand at €560bn in value. Shares recorded the highest price gains, at €16bn, and revaluations of bonds ...
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HSBC expands into European ETF sector
HSBC has announced that it is to break into the European exchange traded funds (ETF) market with the launch of a suite of ETFs, beginning with the HSBC FTSE 100 ETF, tomorrow (25 August 2009). The new ETF, listed on the London Stock Exchange, will track the performance of the FTSE 100 index, domiciled in Ireland, and is registered for sale in the UK and a number of additional ...
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EC alternatives directive could land funds with €25million bill
The European Commission’s draft directive on Alternative Investment Fund Managers could cost the pension fund industry up to €25bn a year if it is put into place in its current form, warns the Alternative Investment Management Association (AIMA). Europe’s pension funds would be landed with the bill if the alternative assets they have increasingly invested in over the last ...
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European investors remain cautious over equities
The financial crisis has changed the attitudes and practices of European institutional investors with a notable shift away from equities and towards fixed income and cash, according to a survey supported by Invesco. The 2009 European Institutional Asset Management ...
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EC chooses Hewitt to carry out pan-European pension fund study
The European Commission has selected Hewitt Associates to conduct a feasibility study and advise on the establishment of a pan-European pension fund for researchers. The project will see Hewitt analysing the legal, technical and financial terms and requirements that must be considered when setting up pan-European arrangements for occupational pensions, which must also take EU ...
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Italy edges China 10-9 to get quarterfinal berth at FINA worlds
A slim lead over host China 10-9 ensured Italy a quarterfinal berth at Swimming Worlds women's water polo here on Thursday. China trailed 7-3 after first half and almost completed a fully comeback, which being held off by Italy at the crunch time in the final period. In Group B, Canada trounced New Zealand 11-4 to claim first after taking all three matches. Australia was second with 4 ...
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Lithuanian closes her grip on European women chess championship title
Three-time European runner-up Viktorija Cmilyte on Monday moved a step closer toward the highest of the medal podium at the 2011 European Individual Women Chess Championship by winning one more of her games.The ninth-seeded Lithuanian beat twice and defending champion from Sweden, Pia Cramling, to claim the full point for 7.5 points out of nine games so far.On Tuesday Cmilyte plays black with ...
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Solar Decathlon Europe exhibits of 20 participants in 2012 edition
This Monday saw models of the 20 houses that will compete for the Solar Decathlon Europe competition exhibited in Barcelona.As many as 20 universities from 15 countries, including Germany, Spain, China, Egypt, Norway, the United Kingdom and Japan are competing in the event, which will conclude in Madrid in the summer of 2012.It will be the most international edition of the event ever to be held ...
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Netherlands to keep producing top players
Dutch specialists believed that the Netherlands will keep producing top soccer players in the foreseeable future, based on the country's efficient youth training system. Just one year ago the Netherlands advanced to the FIFA World Cup final in South Africa. Wesley Sneijder, Arjen Robben and Robin van Persie are the names of the current stars of the national team. They are the successors of ...
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Female suicide bomber wounds 11 in Russia
ELEVEN people have been wounded in an apparent suicide bombing in Russia's restive Dagestan region, a spokeswoman for the regional interior ministry says. The bomber, believed to be a woman, blew herself up on Saturday not far from the interior ministry building in the centre of the provincial capital Makhachkala, spokeswoman Fatina Ubaidatova told AFP. The latest attack in the troubled ...
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Sixth night of violence in Sweden but police say capital calmer
STOCKHOLM (Reuters) - Community patrols and a beefed-up police presence helped to calm violence around Stockholm overnight on Saturday but 20 to 30 cars were still torched in poor immigrant suburbs and serious incidents were reported outside the capital for the first time. The rioting in Stockholm abated after a week of masked youths vandalizing schools and police stations, setting cars alight ...
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EU steps up quest to solve youth unemployment
By Barbara Lewis BRUSSELS (Reuters) - European leaders have decided youth unemployment and the risk of social breakdown are among the toughest challenges they face and finding solutions will be a top priority for the coming months. In a ...
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Dozens march in Ukraines first-ever gay rally
KIEV, Ukraine (AP) -- At least 50 gay rights activists have marched peacefully in the country's first gay rally despite a court ban and attempts to disrupt the ...
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Thousands at mass for Italys mafia martyr
TENS of thousands of Catholic faithful have attended a ceremony in Sicily putting on the path to sainthood a priest shot dead by the mafia 20 years ago for preaching against organised crime. The killing of Father Pino Puglisi, a parish priest working in a crime-heavy neighbourhood of the regional capital Palermo, shocked the nation and helped turn public opinion against the mafia. The cardinal ...
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France We can start bombing Libya tonight
The French Defence Minister has confirmed that military action against the Ghaddafi regime can start only hours after the UN Security Council approves of ...
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Africa Europe set out cooperation priorities
The Action Plan 2011-2013 was adopted at the recent Africa-EU Summit held in Tripoli, Libya. It replaces the First Action Plan 2008-2010 that was approved at the last summit three years ago. Both plans of action are based on eight partnerships defined as "strategic". These focus on energy, climate change, peace and security, Millennium Development Goals (MDGs), trade and ...
Turkey Digest
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Turkey remains bridge between civilisations in railway plans
Turkey is often described as the gateway between two great civilisations, this is a theme employed commonly in our promotional material to encourage tourism and it has been invoked as part of the rhetoric used in ongoing efforts to join the EU, but the fact remains that Turkey is a key player in the world of geopolitics and this is seen most clearly in two major railway projects currently being planned between three regions of the world.
Turkey’s largest city, Istanbul, is famous for being the only metropolitan region in the world that spans two continents, sitting as it does in both between Asia and Europe. This idiosyncrasy of the city has made it a popular tourist destination due to the diversity of culture and architecture, but on a wider scale, the geopolitical significance of Turkey is growing and will indeed grow further if two major infrastructure plans in the Middle East and Asia take shape in the next few decades. Read more
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