Europe

Falling European inflation to pave the way for rate cuts

Falling European inflation to pave the way for rate cutsBerlin  - Inflation in the 15-member eurozone slipped to below 3 per cent for the first time in more than 12 months in November, data to be released Friday is forecast to show, paving the way for the European Central Bank (ECB) to deliver a hefty rate cut next week.

Analysts expect the European Union's statistics office to say annual inflation in the eurozone dropped from 3.2 per cent in October to 2.7 per cent this month as falling oil prices have undercut inflationary pressures.

ROUNDUP: EU to take in up to 10,000 Iraqi refugees

Brussels - The European Union should permanently re- settle up to 10,000 Iraqi refugees currently living in camps in Syria and Jordan into Europe, EU interior ministers meeting in Brussels decided on Thursday.

The council of EU ministers "invites member states to take in Iraqi refugees in a particularly vulnerable situation such as those with particular medical needs, trauma or torture victims, members of religious minorities or women on their own with family responsibilities," a joint statement said.

London, Paris condemn "outrageous" Mumbai attacks

London, Paris condemn "outrageous" Mumbai attacksLondon/Paris  - British Prime Minister Gordon Brown Wednesday condemned as "outrageous" the terrorist attacks in Mumbai and pledged to join the Indian government in a "vigorous response."

"These outrageous attacks in Mumbai will be met with a vigorous response," Brown said.

He had sent a message to Indian Prime Minister Manmohan Singh pledging that Britain stood "solidly" behind his government and would assist it in its response.

EU report ups the pressure to take in more Iraq refugees

Brussels - An internal European Union report on the state of Iraqi refugees in Jordan and Syria raises the pressure on the bloc to take in more of them ahead of a key ministerial meeting Thursday.

The report, seen by Deutsche Presse-Agentur dpa, concludes that "there is a clear need for resettlement" of Iraqi refugees from the two countries, and that an "increased engagement on the part of the EU countries on resettlement could send a positive signal to the governments of the hosting countries."

European businesses bullish about China despite downturn

Beijing - European companies operating in China are "generally optimistic" about the business opportunities there despite the global economic turmoil that is also putting the brakes on China's growth, a survey released Tuesday found.

The reason is because the potential for growth in the Chinese market remains high, the European Union Chamber of Commerce in China said when releasing its annual business confidence survey.

"This year's survey reconfirms that the Chinese market is the most important emerging market for European businesses, and given the global slowdown, it might actually rise in significance," said Joerg Wuttke, president of the chamber.

Obama joins Chicago Olympic bid as Rogge warns of finances

Obama joins Chicago Olympic bid as Rogge warns of finances Istanbul/Washington  - US president-elect Barack Obama threw his weight behind Chicago's bid for the 2016 Olympics, recording a video message for organizers meeting in Turkey on Friday.

Obama promised his incoming administration "will bring a fresh perspective on America's role and responsibilities around the world" and praised the Olympic movement for its ability to bring the global community together.

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