Posts filed under ‘European Union’

European Council’s Way Out of the Debt Crisis

The Euro Summit on 26 October agreed on a comprehensive set of measures to address the current tensions in financial markets and restore confidence.

“We do not want to repeat some of the errors from the recent past,” said Herman Van Rompuy, President of the European Council, who chaired the meeting. “In taking today’s decisions, we lay the foundations for our future. All members of the Euro Summit are determined to follow this path.”

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European Council. Oct 26, 2011

October 31, 2011 at 1:56 pm

Transatlantic Job Creation

Jobs are the lifeblood of the modern economy, creating income that is spent at businesses, saved in banks, and gathered as tax revenue. Without jobs, growth grinds to a halt, economic confidence falters, and the economy contracts—bad news for all concerned.

The recession has taken a comparable toll on employment on both the United States and the European Union. Yet, in spite of the economic downturn, the size and interconnected nature of the transatlantic economic relationship continues to create and sustain jobs—close to 15 million of them, divided more or less equally between the EU and the U.S.

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European Union Delegation to the USA, EU Focus November 2011

October 26, 2011 at 8:14 am

EU agrees Russia’s WTO accession

The European Union on Friday agreed to Russia’s accession to the World Trade Organization, which is expected to take place in December.

The United States welcomed the EU’s decision. However, the Office of the U.S. Trade Representative said it shares “the EU’s strong interest in seeing Russia and Georgia reach a mutually agreeable resolution of trade-related issues, and encourage both sides to continue their cooperative efforts to that end, working with officials of the Government of Switzerland.

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American Shipper. Oct 24, 2011

October 25, 2011 at 1:13 pm

U.S. Small Business Administration – Trade Mission to Paris, France

“Intelligent Buildings: Putting the Pieces Together” Trade Mission • Green Building Conference • Matchmaking Services

European countries are at the forefront of the worldwide effort to improve energy efficiency, enacting laws designed to encourage green development and favoring products and practices that decrease our dependence on carbon fuels.

France ‐the third largest market in the European Union ‐has dedicated the highest percentage of its economic stimulus package to green industries. Most of the economic activity and job creation resulting from the stimulus will be tied to green building. France has dedicated $256 billion for the thermal rehabilitation of existing buildings and $17 billion for new buildings.

The market is seeking new technologies and services to meet increasingly stringent regulatory environments. The United States is well‐positioned to provide state‐of‐the‐art products and expertise to the intelligent building sector.

Europe currently replaces only one percent of existing buildings per year. Governments are looking for ways to motivate property owners to retrofit their buildings . This conference will examine how to “put the pieces together” –how to synchronize four drivers of intelligent building practices –through innovative products and services, regulations, financing, certification and monitoring processes.

Mission Objectives
Intelligent Buildings Trade Mission

SBA and the U.S. Commercial Service are working together on this trade mission to help U.S. businesses establish relationships, explore opportunities in the green building and renovation market, and facilitate export success to mission participants. These objectives will be measured through participation in:

1.Site visits coordinated by the city of Paris’ Economic Development Agency.
2.A Green conference specifically dedicated to retrofitting existing buildings.
3.Gold Key Matchmaking services provided through the U.S. Commercial Service –Paris.

August 11, 2011 at 11:41 am

U.S., EU expand IRISL sanction list

The United States and European Union this week expanded a list of companies that have engaged in business with Iranian shipping companies,
   U.S. Treasury Department sanctions have been in place since September 2008 against the Islamic Republic of Iran Shipping Lines and affiliated companies. The U.S. government alleges IRISL and its complex tangle of affiliates has facilitated the transportation of illegal weapons shipments to Iran.
   The United States added Venezuela’s state oil company PDVSA and six other smaller oil and shipping companies for engaging in trade with Iran, Reuters reported. One of the companies sanctioned is the Ofer Brothers Group, the Israeli conglomerate that runs Israel Corp., parent company of the container line Zim.  Read more.

American Shipper, 5/25/2011

May 26, 2011 at 10:19 am

EU Aims to Seal Deal With Beijing

Chinese leaders are stepping up their courtship of cash-strapped European countries such as Spain, pledging to buy their bonds and expand business ties. Yet China watchers caution that despite the warm diplomacy, Beijing won’t save the euro zone.

Chinese Vice Premier Li Keqiang arrived in Berlin on Thursday on the latest stage of a European tour that began in Madrid. While in Spain, Mr. Li, who is widely expected to become China’s next premier, signed a string of trade and investment deals. He also vowed that China would continue to buy Spanish government debt, a message welcomed by Spain’s embattled government as a vote of confidence in the country. Read More

Source: M. WALKER J. DEAN, Wall Street Journal, January 7, 2011

January 12, 2011 at 7:00 am

Fiat May Boost Chrysler Stake to More Than 50% Before IPO

Fiat SpA, the Italian carmaker that owns 20 percent of Chrysler Group LLC, may boost the holding to more than 50 percent before the U.S. automaker’s initial public offering, the two companies’ chief executive officer said.

“I think it is possible. I don’t know whether it is likely, but it is possible that we’ll go over the 50 percent mark if Chrysler decides to go to the markets in 2011,” Sergio Marchionne, 58, told reporters at the Milan stock exchange today. “It will be advantageous if that happens.”

Fiat received the stake as part of Auburn Hills, Michigan- based Chrysler’s 2009 bankruptcy reorganization. It expects to get an additional 15 percent this year when Chrysler makes a small engine in the U.S. and meets sales objectives outside of North America. Fiat has an option to increase the holding to 51 percent, buying an additional 16 percent, after Chrysler repays U.S. and Canadian government loans.

“It looks cheaper for Fiat to get 51 percent of Chrysler before the IPO,” said Philippe Houchois, a London-based analyst at UBS AG, who estimates that Fiat could save $1 billion to $2.7 billion if it exercises the option before a Chrysler listing. “It’s a positive scenario for Fiat shares.” Read More

Source: T. Ebhardt, Bloomberg, January 3, 2011

Looking for opportunities to connect with Italian customers and businesses? Join our 2011 Tourism and Trade Mission to Italy (March 23-30, 2011)

January 6, 2011 at 2:38 pm

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Travel with the Northern Kentucky Chamber in 2012

Peru - August 12-20, 2012
To learn more about the program, please email Kyle Horseman or call 859.426.3653.

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