Europe

Fall in inflation could set the stage for rate cut

Fall in inflation could set the stage for rate cutBerlin  - European inflation fell below the European Central Bank's (ECB) 2 per cent target in December, data to be released Tuesday is forecast to show, raising the prospects of the ECB delivering another cut in rates at its meeting set for next week.

Preliminary data to be released by the European Union's statistics office will show December inflation in what was then the 15-member eurozone sliding from 2.1 per cent in November to 1.8 per cent last month, analysts say.

Czech government to set euro adoption date on November 1

Prague - Czech Prime Minister Mirek Topolanek said Thursday his government will meet on November 1 to set a date for adopting the euro, a change from his government's go-slow approach to Europe's common currency.

"November 1 is the date when the government will determine a date for adopting the euro," he said on Czech Television.

While the Czechs have been reluctant, other central European leaders have voiced their support for speedy euro adoption in the aftermath of the global financial crisis, seeing it as a shield during the ensuing slowdown of their economies.

Gazprom: Talks fail, will cut off gas to Ukraine

Gazprom: Talks fail, will cut off gas to UkraineMoscow/Kiev  - Russian export monopoly Gazprom on Wednesday accused its Ukrainian counterpart of negotiating in bad faith as talks on preventing a gas embargo failed, setting the stage for a new energy crisis in Europe.

Ukrainian and Russian government representatives quit negotiations in Moscow some two hours ahead of a promised New Year's cut-off of gas deliveries by Russian energy giant Gazprom to Ukraine, as punishment for a 2-billion-dollar Ukrainian debt.

Govt Invites Top Travel Writers To See Safe India

After the India's tourism industry being hit by terrorism government has now invited some of the best writers on travel from the US and Europe to help recover the industry.

They shall visit India from January onwards and shall visit exotic destinations and the cities affected by terrorism and to write about how safe is the travel in the country.

An official from tourism said, "Some of the writers will be taken to those cities where terror attacks have taken place so they can write about the security steps taken by the authorities."

Maruti Begins Exporting New Small Car To Europe

Maruti Begins Exporting New Small Car To Europe  On Friday, the country's leading passenger car maker, Maruti Suzuki announced that it had started to export its newly launched small car A-star to Europe.

M.M. Singh, the company's managing executive officer (production) informed, “This dispatch of first consignment of A-star from Gurgaon railway station is a quantum leap for Maruti Suzuki towards the company's future as a small car manufacturing hub for Suzuki, Japan.”

The first batch of A-star exports has left in an especially designed wagon from the Gurgaon railway station for Mundra port in Gujarat.  

Gazprom: Gas cuts possible to western Europe

Moscow  - Russian gas export monopoly Gazprom said Friday that its dispute with Ukraine over payments could cause disruptions in deliveries to Western Europe, a news agency reported.

Gazprom spokesman Sergei Kupriyanov said that Gazprom head Alexei Miller had notified Europe's largest clients that it could not rule out the possibility of a cut off, according to Itar-Tass.

At issue is the lack of progress in reaching agreement with Ukraine's Naftogaz over 2 billion dollars in non-payments for imports by Kiev, with a New Year's deadline looming with threatened cut-offs by Gazprom.

Gazprom supplies about one-quarter of the European Union's gas needs, 80 per cent of which is shipped through Ukraine.

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