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Europe Economy

[Ethiopian Herald] Tourism which is known as the smokeless industry has huge contribution to the economy of countries. It is an industry that could create jobs, generate foreign exchange and hugely supports the economy. According to World Travel and Tourism Council (WTTC) 2016 report, tourism has contributed USD 7.6 trillion (10.2 percent) of the world's GDP and created job opportunity for 292 million people, which accounts to 1 in 10 jobs created in the planet. European countries such as France, Spain, Italy and United King | 12/22/17
2017 has been a full year for the EU, and for EURACTIV. Shortly after our announcement of the EURACTIV rebranding, we rolled out eight Policy Hubs: Politics,  Global Europe, Economy & Jobs, Agriculture & Food, Health, Energy & Environment, Digital and Transport. Here are the most read articles in each Policy Hub: POLITICS A. C. […] | 12/22/17
China's foreign ministry on Thursday criticised what it called the "thoughtless remarks" of the European Union, after the bloc introduced new rules to guard against excessively cheap imports and singled out China as a distorted state-run economy. | 12/21/17
European deal making is set to outpace the U.S. this year and signs point to a healthy 2018 as a stronger economy and greater cooperation across the eurozone pushes executives to target major acquisitions within the region. | 12/18/17
With renewable electricity costs going through the floor, the EU should increase its 2030 targets and aim for close to zero carbon electricity by 2040. But while power decarbonisation is crucially important, it will not be sufficient to deliver a truly zero carbon economy, writes Adair Turner. | 12/18/17
The week ahead features U.S. data on consumer spending and inflation, reports on European consumer confidence and wages, and a policy decision by the Bank of Japan. | 12/17/17
Uber Eats only just turned two years old, but like other "gig economy" businesses, it's facing scrutiny over how it classifies workers. In Europe, the company is partnering with Axa to offer couriers an insurance package that covers accidents, hospit... | 12/16/17
On Monday (18 December), the 28 European energy ministers will risk making the transition to a low carbon economy harder for themselves and more expensive for all of us, because of their self-sabotaging tendencies, warns Manon Dufour. | 12/15/17
 Uber has announced it’s launching a free insurance package for independent couriers delivering food for its Uber Eats business in nine European markets. It says all couriers with an active account in the covered markets will be able to take up the product free of charge. Read More | 12/15/17

FRANKFURT, Germany — With the eurozone economy showing strong growth, the European Central Bank left its interest rates and stimulus measures unchanged Thursday as it looks ahead to the delicate matter of ending its bond-purchase program next year.

The Bank of England also left its key rate unchanged at 0.5 percent amid uncertainty about how Britain's departure from the European Union, expected in March, 2019, will affect the economy.

The European Central Bank expects GDP to rise further but inflation will stay below target. | 12/14/17
The EU’s Circular Economy Package is delivering some important progress on supporting business resource efficiency. But the circular economy will need to remain top of the agenda for many years to come if the EU is to see a step change in resource productivity, argues Nick Molho. | 12/14/17
Positive new economic forecasts for the eurozone will bring early Christmas joy for the European Central Bank, but will not be enough to coax Frankfurt from its mantra of confidence tempered with patience, analysts expect, with president Mario Draghi set to avoid talk of further reducing its massive support to the economy. | 12/14/17
European Commission President Jean-Claude Juncker’s proposals to create a eurozone budget and finance ministry have less political appeal amid a robust economy, Simon Nixon writes, particularly since many policy failures and structural problems have already been addressed. | 12/13/17
[PR Newswire] Luxembourg -The European Investment Bank (EIB) signed a financing agreement of EUR 250 million with Banque Misr to finance investments by small and medium-sized enterprises (SMEs) and midcaps in the manufacturing and services sectors to improve their competitiveness in Egypt. The financing agreement is expected to sustain thousands of jobs in Egyptian enterprises. | 12/13/17
Since releasing the University of San Francisco research paper on “How to Determine the Economic Value of Your Data” (EvD), I have had numerous conversations with senior executives about the business and technology ramifications of EvD. Now with the release of Doug Laney’s “Infonomics” book that builds upon Doug’s EvD work at Gartner, I expect these conversations to intensify. In fact, I just traveled to Switzerland to discuss the potential business and technology ramifications of EvD with the management team of a leading European Telecommunications company.

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The clean energy transition requires first and foremost bridging energy and digital economy. The single energy market and the digital single market must go hand-in-hand, argues Dominique Ristori. | 12/8/17
Britain has not conducted formal sector-by-sector analyses of the impact that leaving the European Union will have on the economy, Brexit minister David Davis said on Wednesday (6 December), arguing they were not necessary yet. | 12/7/17
Germany's centre-left Social Democrats meet from Thursday (7 December) to decide on whether to help Chancellor Angela Merkel end a months-long political stalemate in Europe's biggest economy. | 12/7/17

Minister of International Business Donville Inniss has conceded that the European Union’s (EU) latest blacklisting of Barbados could have serious implications for the economy. However, he stressed,... | 12/7/17
Mexico and the European Union are working to wrap up negotiations on a new version of their 17-year-old trade deal by the end of the month, the Mexican economy ministry said on Tuesday (5 December). | 12/6/17
Today, small firms across Europe are struggling with the soaring costs of running a business – from business rates to rental costs, increasing inflation to higher export costs. Now imagine trying to cope with these costs while also waiting for a payment from a big business, writes Ken Moon. | 12/5/17
The clock is ticking and companies in the EU will have to meet the requirements of the new General Data Protection Regulation (GDPR) from the end of May 2018. The Regulation brings extensive changes for business, writes Herwig Thyssens. | 12/5/17
Kenya is one of the biggest exporters of cut flowers in the world but the booming industry has created a raft of environmental problems. Local producers are now coming up with new ideas to cut pollution while keeping their business profitable. | 12/4/17
François Curiel, the house’s chairman for Europe and Asia, talks about the business’s evolution, the Asian market and da Vinci’s “Salvator Mundi.” | 12/1/17
The tie-up may lead to forming Europe's second-biggest steelworks | 12/1/17

In the EU’s recent social summit in Gothenburg on 17 December, leaders approved the launch of 20 additional measures to reinforce the social pillar of the EU and to fight against the effects of economic crisis and against populism – the major beneficiary of this crisis. The 20 principles that guide it can be divided into three categories: “equality of opportunities” in accessing the labour market, “protection and social inclusion” and “fair working conditions”. The text on the European Pillar of Social Rights is not binding, since Member States have kept social policy within their national competences, but it represents a serious commitment to an EU with more social and economic justice.

A study published by the Bertelsmann foundation concludes that Europe is recovering from the economic crisis and is also making progress in the area of social justice. The index was created taking into account five basic criteria and countries’ measures in these areas: poverty prevention, equal educational opportunities, access to labour markets, social cohesion and non-discrimination, health and intergenerational justice.

The positive trend is visible for all countries in the last few years, but there are important differences between them. Scandinavian countries, like Denmark, Sweden and Finland find themselves at the top of the index, followed by the Czech Republic, Slovenia, the Netherlands, Austria and Germany. The group of 28 has Greece at the bottom, preceded by Bulgaria and Romania.

Countries ranked by social inclusion. The higher the score, the better the performance.

EU countries ranked according to the evolution of the Social Justice Index between 2008 and 2017 (between 2014 and 2017 for Slovenia, Estonia, Malta, Lithuania, Latvia, Cyprus, Bulgaria and Romania).

Recovery in the labor market has been the primary driver of improved participation opportunities in the EU. Job opportunities have improved in 26 of the 28 states as compared to the previous year. Recent data show the unemployment rate as a cross-EU average to have fallen to 8.7 percent. In 2013, at the height of the social crisis, this was 11 percent on a cross-EU basis (in 2008: 7 percent). An additional positive sign is that the recovery in the labor market has visibly reached the countries hit hardest by the crisis, even if the overall volume of joblessness remains very high – particularly in southern Europe. In Greece, for example, the unemployment rate has fallen from 27.7 percent (2013) to 23.7 percent (2016), while in Spain a decline from 26.2 percent to 19.7 percent has been evident in the same time period.

Youth-unemployment rates in southern Europe have also dropped back somewhat from the absolute record levels seen in past years. In Greece, for example, this rate has fallen from nearly 60 percent in 2013 to its current level of 47.3 percent. A similar picture appears in Spain, with a decline from 55.5 percent to 44.4 percent. In Italy, the youth-unemployment rate is now 37.8 percent – a decline of nearly five percentage points from its peak of 42.7 percent in 2014. Overall, the youth-unemployment rate EU-wide has fallen from 23.6 percent in 2013 to a current rate of 18.7 percent.

As a result of this overall positive employment trend, the risk of poverty and social exclusion has also fallen slightly across the EU. While a total of 24.7 percent of the EU population faced this threat at the height of the social crisis in 2012/2013, this is now ‘only’ 23.4 percent, according to the most recent data. However, the social gap between northern and southern Europe remains very large, as many of the crisis-struck states continue to tread water or show only very minimal progress with regard to poverty prevention. For example, the share of people at risk of poverty or social exclusion in Greece still sits at a shockingly high 35.6 percent, followed by 27.9 percent in Spain and 28.7 percent in Italy. As a comparison, in Denmark, Finland and the Czech Republic – the three best-scoring countries in the area of poverty prevention – the corresponding shares are only between 16.7 percent and 13.3 percent.

For certain societal groups such as children and young people, the risk of poverty and social exclusion remains significantly higher: 26.5 percent across the EU are at risk of poverty and social exclusion. | 11/27/17
Without a deal next month, time will be very tight to agree arrangements before Britain leaves the EU in March 2019, adding to pressure on businesses to avoid potential losses and move investments. | 11/25/17
[New Dawn] The Ministry of Transport with assistance from the Liberia National Police, European Union, German Cooperation and GIZ as well as sponsorship from Orange Money will hold a one-day road safety activity dubbed: "Safe Streets Festival" on Saturday, 25 November on Broad Street, Central Monrovia. According to a release from EU, the event is inspired by the European Mobility Week and takes place under the motto: "Road Safety Strengthens Economy". | 11/23/17
Poland has been steadily growing its share of renewable energies in an effort to decarbonise its economy, challenging stereotypes that paint it as the coal-addict of Europe. However, the deployment of renewables appears to have come to a halt since the 2015 peak. | 11/23/17
 With the UK government continuing to face down criticism over how it is handling plans to remove the UK from the European Union, today the country’s Chancellor Philip Hammond delivered an annual Autumn Budget that underscored its continuing push to win over the tech world. In a wide-ranging speech laying out proposals for investment and taxes for individuals and businesses, the… Read More | 11/22/17
EU and business leaders are very keen to address the high levels of youth unemployment and the emerging skills gap across Europe by offering young people opportunities to play an active role in the European economy, writes Stefan Crets. | 11/21/17

BERLIN — Germany, Europe's largest economy and anchor of stability, is facing the prospect of months of political uncertainty after Chancellor Angela Merkel's conservatives were unable to form a coalition with two smaller parties, raising the likelihood of new elections.

Negotiations to form the German government broke down, dealing a blow to Chancellor Angela Merkel and throwing the leadership and direction of Europe’s largest economy into doubt. | 11/20/17
A group of influential German business figures launch campaign to keep the UK in the European Union. | 11/20/17
[Business Day] The enactment of a new legislation that addresses entrenched forest governance challenges in Ghana has been touted as a critical milestone on the way to full implementation of the country's Voluntary Partnership Agreement (VPA) with the European Union. | 11/20/17
Negotiations to form the German government broke down, dealing a blow to Chancellor Angela Merkel and throwing the leadership and direction of Europe’s largest economy into doubt. | 11/20/17
For decades, labourers were presented with a false choice: good jobs or a clean environment. They were told that efforts to cut pollution would kill jobs—that they had to choose between clean air and the economy. Now we know better, insists Kathleen Van Brempt. | 11/17/17
 PIxelz, a Danish provider of post-production photographic software and services, has raised  $7 million to build out its business in Europe. Read More | 11/16/17
In Europe, innovative companies are often taken to court when their business model does not meet the established patterns, and this may prevent the EU from becoming a large common market for digital services, argues Žiga Turk. | 11/14/17
The head of the CBI says business wants the UK and Europe to speed up Brexit negotiations. | 11/13/17
[The Herald] Zimbabwe has over the past few years hosted trade and investments missions from Europe, Asia and the African region among others, but of concern is the fact that these have not yielded much. Although it is quite understandable that setting up shop is not a one-day event, but a process that takes some time, we still have not seen much being done given the volume of delegations that we have received. The mismatch is too wide, it needs prodding. | 11/10/17
The European economy is enjoying a period of positive momentum as growth spreads across all member states, public accounts are expected to look healthier and risks are balanced for the first time in a long while, the European Commission concluded on Thursday (9 November). | 11/9/17
The European Union said it is poised to beat 2017 economic growth expectations, with strong private consumption and the global recovery propelling eurozone growth at the fastest pace in a decade. | 11/9/17
The European Union said it is poised to beat 2017 economic growth expectations, with strong private consumption and the global recovery propelling eurozone growth at the fastest pace in a decade. | 11/9/17
Is the European Commission doing enough on the circular economy? Björn-Erik Lönn and Sören Enholm explain that buyers play an important role in creating it, so we have to make sure consumers and purchasers are empowered to make sustainable choices. | 11/8/17
Tomorrow, the European Commission reveals its plan to cut transport emissions and boost electric vehicle use. For its ambition to pay off, the EU will have to bank on the business argument for e-mobility. | 11/7/17

This year’s quiet summer movie season left AMC Entertainment high and dry, as the theater chain owner struggled through a second consecutive money-losing quarter — although it managed not to bleed as much cash as analysts expected.

After markets closed Friday, AMC reported $1.18 billion in revenue and a loss of 33 cents a share for the three months ended September 30. That fell well short of the earnings of 31 cents a share the company reported for the same time last year.

Revenue topped last year’s $780 million in the corresponding quarter, thanks to multiple acquisitions in the last year. Analysts had estimated revenue of $1.16 billion and a loss of 36 cents a share.

Also Read: AMC Theatres Makes $20 Million Bet on Virtual Reality With Dreamscape Immersive

“We have been predicting weakness in the third quarter industry box office, due to the quantity and subject matter of the films that were scheduled to be released,” AMC President and CEO Adam Aron said in a statement accompanying the earnings. “We, however, remain bullish about the fourth quarter movie slate.”

AMC, which is owned by China’s Dalian Wanda Group, had been on a spending spree over the last few years, scooping up chains in Europe and North America.

But after the company was hammered by a soft second quarter, Aron said “acquisitions are paused” in order to reduce debt on its last earnings call. The company lost nearly $43 million in the third quarter.

Also Read: Wanda's Jack Gao Steps Down From AMC Theatres Board

The company has tried to diversify from its reliance on blockbusters, making a $20 million bet on virtual reality company Dreamscape Immersive to add more bells and whistles to the theatrical experience.

AMC’s Chinese parent, Wanda, has also been hamstrung by a regulatory crackdown, as the company has sold off dozens of hotels and its theme park business as it looks to reduce its own debt.

And while AMC doesn’t rely on Wanda for funding, earlier this month, Wanda exec Jack Gao stepped down from his position as interim CEO of Wanda-owned Legendary Entertainment and also exited AMC’s board.

Also Read: Why Wang Jianlin and Wanda's Problems are 'More Political Than Economic' (Video)

And AMC was the theater chain that came out strongest against subscription service MoviePass’s price cut, calling its under-$10 price tag that allows users to see up to one film a day “not in the best interest of moviegoers.”

On AMC’s conference call following the earnings release, Aron said the company was considering an initial public offering of its European theaters on the London Stock Exchange in 2018, where the exhibitor would sell between one-fourth and one-third of its shares to the European public, as a way to give investors a more immediate return on AMC’s expansion strategy.

Related stories from TheWrap:

Wanda's Jack Gao Steps Down From AMC Theatres Board

AMC Theatres Makes $20 Million Bet on Virtual Reality With Dreamscape Immersive

AMC Theatres CEO Says 'Acquisitions Are Paused' to Reduce Debt | 11/6/17

Cross-border data flows is one of the most important issues to our members in today’s global economy. The European Union’s General Data Protection Regulation (GDPR) dealing with how global businesses handle any collected data from individuals in Europe will become effective in May of 2018. It is imperative that U.S. businesses with international and European clients understand how the GDPR may affect their businesses and begin to implement strategies to ensure compliance with the regulation.

Helping members understand new regulations is a core part of the i2Coalition mission. As such, the i2Coalition will be organizing a members-only call with leading U.S. and European regulators charged with implementing the GDPR to discuss compliance. Additionally, there will be a discussion on Privacy Shield, the agreement between the US and EU for the handling of transatlantic exchanges of personal data.

Alban Schmutz, Chairman of CISPE and VP of OVH will be speaking with a focus on the GDPR and its Code of Conduct for infrastructure providers.

The call will take place November 14th, at 10 AM EST (UTC -4). Additional information available here. | 11/6/17

The economy of Europe comprises more than 731 million people in 48 different states. Like other continents, the wealth of Europe's states varies, although the poorest are well above the poorest states of other continents in terms of GDP and living standards. The difference in wealth across Europe can be seen in a rough East-West divide. Whilst Western European states all have high GDPs and living standards, many of Eastern Europe's economies are still rising from the collapse of the communist Soviet Union and former Yugoslavia. Throughout this article "Europe" and derivatives of the word are taken to include selected states whose territory is only partly in Europe – such as Turkey, Azerbaijan, and the Russian Federation – and states that are geographically in Asia, bordering Europe – such as Armenia and Cyprus. Europe was the first continent to industrialize – led by the United Kingdom in the 18th century – and as a result, it has become the richest continent in the world today and the nominal GDP in 2010 is $19.920 trillion (32.4% of the World). Europe's largest national economy is that of Germany, which ranks fourth globally in nominal GDP, and fifth in purchasing power parity (PPP) GDP; followed by France, ranking fifth globally in nominal GDP, followed by the United Kingdom, ranking sixth globally in nominal GDP, followed by Italy, which ranks seventh globally in nominal GDP, then by Russia ranking tenth globally in nominal GDP. These 5 countries are all ranking in the world's top 10, therefore European economies account for half of the 10 wealthiest ones. The end of World War II has since brought European countries closer together, culminating in the formation of the European Union (EU) and in 1999, the introduction of a unified currency – the euro. European Union as a whole is, by far, the wealthiest and largest economy in the world, topping the US by more than 2.000 billions at a time of great economic slowdown– see List of countries by GDP. In 2009 Europe remained the world's wealthiest region. Its $32,7 trillion in assets under management represented more than one-third of the world’s wealth. Unlike North America ($29,3 trillion) it was one of few regions where wealth surpassed its precrisis year-end peak. Of the top 500 largest corporations measured by revenue, 184 have their headquarters in Europe. 161 are located in the EU, 15 in Switzerland, 6 in Russia, 1 in Turkey, 1 in Norway. 19 out of the top 26 nations in the world with the highest nominal GDP per capita are in Europe as of 2010. nr 1 Monaco $203,900 nr 2 Liechtenstein $136,864 nr 3 Luxembourg $104.390 nr 4 Norway $84,543 nr 6 Switzerland $67,074 nr 7 Denmark $55,112 nr 8 San Marino $50,670 nr 10 Sweden $47,667 nr 13 Netherlands 46,418 nr 15 Ireland $45,642 nr 16 Austria $43,723 nr 17 Finland $43,133 nr 19 Belgium $42,596 nr 21 Andorra $41,130 nr 22 France $40,591 nr 23 Germany $40,511 nr 24 Iceland $39,562 nr 25 UK $36,298 nr 26 Italy $33,828

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