Europe Intelligence Wire articles from October 2008

Europe Intelligence Wire archives from October 2008

Dexia to be nationalised (Trois pays au secours de la banque franco-belge Dexia).
October 1, 2008... (From Le Monde) Struggling Franco-Belgian bank Dexia is to be bought out by the governments of France, Belgium and Luxembourg after the three countries hammered out a takeover deal on Monday night. Belgium is to invest 3bn euros, while the...

Euro For Zloty; Why Poland Needs theEuropean Currency.
October 1, 2008... (From Polish News Bulletin) The introduction of euro will open Poland the way to great civilisational changes. The sooner the new currency is adopted, the earlier they will take place. And if Poland insists on keeping the national...

Who Will Pay For Euro?
October 1, 2008... (From Polish News Bulletin) Declarations made by Prime Minister Donald Tusk concerning Poland's admission to the eurozone by 2011 have been assessed as unrealistic by majority of experts. Some of them also claim that the change of...

Polish Press Comments On Prime Minister's Declaration.
October 1, 2008... (From Polish News Bulletin) Dziennik.pl, September 11 2008 Adoption of the common European currency means the admission to the world's leading economic structure, which is stable, predictable and efficient in stimulating the economic...

SR Telecom Announces Multi-Million Dollar Order.
October 1, 2008... (From Hugin) Airtel selects symmetryMX for WiMAX rollout across Cameroon MONTREAL, CANADA--(Marketwire - September 30, 2008) - SR Telecom & Co. S.E.C, a leading supplier of WiMAX Forum-certified solutions, today announced it will...

HIGHLIGHTS - Wladyslaw Stasiak to Lose Office of BBN Head.
October 1, 2008... (From Polish News Bulletin) The head of National Safety Bureau (BBN) Wladyslaw Stasiak may be dismissed from his office, due to a dispute with President Lech Kaczynski over the independence of the BBN. He will be replaced by former Defence...

INBRIEF.
October 1, 2008... (From Polish News Bulletin) According to the results of a survey by CBOS, 64 percent of respondents have a positive opinion of the foreign policy of Donald Tusk's government, and 35 percent accept the one followed by President Lech...

Stasiak to Be Dismissed from BBN.
October 1, 2008... (From Polish News Bulletin) It is highly probable that Wladyslaw Stasiak, the head of National Safety Bureau (BBN) will be dismissed from his office. He is said to have fallen into disfavor with President Lech Kaczynski, after he notified...

UEFA and FIFA Object to Introducing Supervisor to PZPN.
October 1, 2008... (From Polish News Bulletin) Sepp Blatter, the head of FIFA and Michel Platini, the head of UEFA announced that introducing a supervisor intothe Polish Football Federation (PZPN) breaks international norms, and stated that the suspended...

Law and Justice Makes Dodgy Excuses.
October 1, 2008... (From Polish News Bulletin) Law and Justice (PiS) is mulling over further action on the issue of fraudulent excuse notes for its MP's absences at a parliamentary session. The MPs boycotted several sessions and left the chamber, but...

WSE Rolls with the Punches and Fights Back.
October 1, 2008... (From Polish News Bulletin) When on Monday the sharp slumps on European markets were followed by news of rejection of the Paulson plan by the US Congress and panic on Wall Street, most analysts predicted that on the following day the...

Government Prepares Another Version of KRUS Reform.
October 1, 2008... (From Polish News Bulletin) Yesterday the government accepted a draft bill containing changes to the Agricultural Social Insurance Fund (KRUS). However, this is not the coveted amendment promised by the coalition. "In the middle of October...

Politician's Comments on Financial Crisis.
October 1, 2008... (From Polish News Bulletin) President Lech Kaczynski considered the financial crisis in the US as surprising and expressed hope that the US would take action to minimise its effects. He is convinced that the state is the only body able to...

President: Referendum on Euro Introduction.
October 1, 2008... (From Polish News Bulletin) In President Lech Kaczynski's opinion the people of Poland should decide in a referendum whether to introduce the euro as such a decision means losing some of Poland's independence. He stressed that the...

Pension Funds Still Losing Money.
October 1, 2008... (From Polish News Bulletin) Open pension funds (OFE) have been noting losses since the beginning of 2008. They currently amount to 9.3 percent of their capital, and it is estimated that they may increase to 10 up to 15 percent by the end...

Sejm Tinkers with Treasury's Powers.
October 1, 2008... (From Polish News Bulletin) Today's sitting of the Parliament will witness the first reading of the tax amendments. This is the key part of the so-called "Szejnfeld package", whose aim is to reduce bureaucracy thus giving more freedom to...

Gov't Adopts New Strategic Company List.
October 1, 2008... (From Polish News Bulletin) On 30 September, the government adopted a new list of companies of strategic importance to public order and state security, which was prepared by Treasury Minister Aleksander Grad. It includes 13 enterprises:...

Central Bank Not Worried About Poland's Rising External Debt.
October 1, 2008... (From Polish News Bulletin) According to the data collected by the central bank (NBP), at the end of Q2 Poland's external debt amounted to EUR180.892bn, as compared to EUR169.88bn three months earlier. Year-on-year, its value has increased...

Change of Mind at NBP: Amending Constitution Necessary Before ERM2.
October 1, 2008... (From Polish News Bulletin) On 29 September, central bank (NBP) representative Marcin Olszak declared that Poland could enter the ERM2 mechanism without changing the Constitution. One day later, however, the institution's head Slawomir...

Fast Track Companies.
October 1, 2008... (From Polish News Bulletin) One of the main elements in the government's programme for national roads and motorways construction are companies for special purposes. Equally important will be the amendment of environmental law and the...

INBRIEF.
October 1, 2008... (From Polish News Bulletin) There are rumours that the EU commissioner for competition, Neelie Kroes, is intending to issue a negative decision concerning the privatisation of Polish shipyards. Both EC official and adviser to Polish...

PKP President And Infrastructure Minister to Be Dismissed?
October 1, 2008... (From Polish News Bulletin) PKP's president Andrzej Wach and Infrastructure Minister Cezary Grabarczyk might have to resign. These drastic changes may stem from an apparently unimportant case. Yesterday, a specialist Internet portal...

PBG Income Higher Than Expected.
October 1, 2008... (From Polish News Bulletin) The net income of PBG group for the second quarter of 2008 amounted to ZL50m instead of the ZL41.2m announced in the report from August. The difference amounts to 21 percent and is mainly caused by the...

A Firm from Zasada Group Wants to Enter Stock Exchange.
October 1, 2008... (From Polish News Bulletin) AutoGuard, a company controlled by Sobieslaw Zasada, might even appear at the Warsaw Stock Exchange (GPW) this year, provided that the circumstances are favourable. AutoGuard is Poland's biggest firm selling...

Enea Keeps Hesitating.
October 1, 2008... (From Polish News Bulletin) Due to the unfavourable situation on the financial markets the Poznan-based energy company Enea is continuing to delay its stock exchange debut. Joanna Schmid, the deputy finance minister supervising...

Fortis Bank's Polish Arm Doing Fine.
October 1, 2008... (From Polish News Bulletin) According to Fortis Bank Polska's latest financial guidance, in 2012 its revenue will double in comparison to the present and amount to around ZL2.7bn. "In order to achieve this goal, we will double the number...

BGZ May Debut Later.
October 1, 2008... (From Polish News Bulletin) The deadline for the introduction of BGZ bank to the stock exchange has been prolonged by six months by the decision of the general meeting of shareholders. The bank may go public by the first quarter of 2009...

Cyfra Plus Aiming at 1.3 Million Subscribers.
October 1, 2008... (From Polish News Bulletin) So far, 2008 has not been particularly successful for Canal+'s Polish arm. Since the end of 2007, the number of its subscribers has increased by only 30,000 and presently amounts to 1.1 million. For this...

Strike Alert at KGHM.
October 1, 2008... (From Polish News Bulletin) On 30 September, SKGRM NSZZ Solidarnosc trade union's head Jozef Czyczerski announced that the unions present in KGHM copper company will launch a strike alert on 1 October, with a strike referendum to be held...

Record Contract Signed.
October 1, 2008... (From Polish News Bulletin) The property developer Mostostal has just signed the largest contract in its whole history. It concerns the building of a residential district in Domodiewo, situated in the vicinity of Moscow, worth USD172m...

Toyota Boshoku To Spend ZL100m.
October 1, 2008... (From Polish News Bulletin) Toyota Boshoku, which has been part of the Toyota Motor concern for 90 years, is going to establish the first seat frame and upholstery factory in the EU. It will be set up in Poland. TBAI Poland, consisting of...

Centrozap Second Debut.
October 1, 2008... (From Polish News Bulletin) After five years of absence, Centrozap has reintroduced its shares to the Warsaw Stock Exchange. The second debut was quite successful, as the price quickly rose from the initial ZL1 to ZL1.58. At the closing of...

Enterprise Investors to Gain Full Control over Kofola-Hoop.
October 1, 2008... (From Polish News Bulletin) At a press conference held on 30 September, Enterprise Investors (EI) announced that Kofola-Hoop non-alcoholic beverage maker will remain listed on WSE. On Monday, EI's subsidiary CED Group and KSM Investment,...

Zetkama Performs Well Despite Strong Zloty and Rising Prices.
October 1, 2008... (From Polish News Bulletin) Leszek Jurasz, CEO of industrial fittings manufacturer Zetkama, complains about the strong zloty, which together with rising energy and raw material prices is not helping his company achieve good results. He...

Action Close to New Takeover.
October 1, 2008... (From Polish News Bulletin) Before the end of turnover year 2007/2008, which ended in July, IT equipment distributor Action raised its financial forecasts. According to the updated version, its annual revenue and net profits were to...

Tiffi's Owner Awaits Profit.
October 1, 2008... (From Polish News Bulletin) Prochnik's board is very fond of the new investor from Nidzica. The investor, Tiffi, has increased its participation from 4.95 to 7.7 percent. However, Prochnik is still lacking a majority investor, which puts...

Energy Prices to Rise Despite Delay in Market Liberalisation.
October 1, 2008... (From Polish News Bulletin) In the following interview, Energy Regulatory Office (URE) head Mariusz Swora comments on his decision to postpone liberalisation of the domestic energy market. GP: In November 2007, you withdrew your...

Fortis update regarding Artemis Asset Management.
October 1, 2008... (From Hugin) Fortis has increased its equity interest in Artemis Asset Management Limited ("Artemis"), a UK based investment management firm, from 67.1% to a sole shareholding position. ABN AMRO Asset Management had held a majority...

Optimistic Budget for 2009.
October 1, 2008... (From Polish News Bulletin) Since January 2009 there will be a change in PIT tax accounts, introducing the new two quotas of 18 and 32 percent. Though the change itself is estimated to cost about ZL8bn, the expected increase in state...

No Ban On GMOs.
October 1, 2008... (From Polish News Bulletin) The new legislation on genetically modified organisms will have to reconcile the EU regulations, which allow them to be grown and sold on the EU market, and the stance of Polish government, which is in favour...

Distributors Need ZL55bn.
October 1, 2008... (From Polish News Bulletin) The Polish Association for Electric Energy Distribution warned that Poland's security with respect to necessary energy supplies may be endangered by too old energy transfer networks, whose failure may make...

Prices Still Controlled.
October 1, 2008... (From Polish News Bulletin) The head of Energy Regulatory Office, Mariusz Swora, announced that full liberation of energy prices from January 2009 is not possible, as energy companies have not yet fulfilled all the necessary conditions....

Alimony Fund Reinstituted.
October 1, 2008... (From Polish News Bulletin) Alimony Fund will operate again, as of October 1. It will provide for the maintenance of children whose parents, obliged to the payment of alimony, fail to fulfill their obligation. The Minister of Labour and...

Housing Loans.
October 1, 2008... (From Polish News Bulletin) The recent decrease in real estate prices and rise in the price limits on subsidized apartments are likely to stimulate interest in the government project of subsidizing the payment of loans contrated for the...

Alerts On WSE.
October 1, 2008... (From Polish News Bulletin) After the last session in September, Warsaw Stock Exchange will prepare a list of companies to be alerted about a possible removal from the stock market. It may include several companies with prices below ZL0.50...

Start Before Decision.
October 1, 2008... (From Polish News Bulletin) The change in legislation on UE subsidies introduced by the European Commission will enable businessmen to commence their business activity after submitting the application for subsidies, without the necessity...

Resuming Business Activity.
October 1, 2008... (From Polish News Bulletin) The update to the law on the freedom of economic activity made it possible for one person businesses to be suspended in their operation for a period between 1 to 24 months. After that time, there are 30 days...

Loan Market is Growing.
October 1, 2008... (From Polish News Bulletin) The demand for cash loans is growing due to the falling unemployment and continuing good situation in retail sales. Banks assess the summer season as exceptionally good; their profits were almost as high as in...

VAT Law Update.
October 1, 2008... (From Polish News Bulletin) The Sejm may soon pass an update to the VAT law, which will change regulations concerning VAT tax deductions. Taxpayers eligible for a deduction for selling products at discount price will be required to have a...

Developers Invest In Storehouses.
October 1, 2008... (From Polish News Bulletin) Low demand for apartments makes developers more interested in investing in commercial property such as storehouses and logistics centres. There is a slowdown on the Polish development market and although the...

Assumptions for 2009 Budget.
October 1, 2008... (From Polish News Bulletin) Provisional assumptions concerning 2009 budget prepared by the Monetary Policy Council are based on the prediction that the slowdown in GDP growth in major world economies, including EU countries, will...

Extra ZL630m for ZUS.
October 1, 2008... (From Polish News Bulletin) According to the budget law for 2009, expenditure for the social security system is to increase by ZL630m. The Social Security Agency (ZUS) explains that new tasks it will have to perform from January 2009 will...

Energy More Expensive.
October 1, 2008... (From Polish News Bulletin) According to the decisions of administrative courts in a series of cases concerning excise tax on energy delivery, Polish excise law is not compatible with EU regulations, which states that energy producers may...

Task Based Budget in 2013.
October 1, 2008... (From Polish News Bulletin) The need to introduce a task based budget plan in Poland had been acknowledged before 2006 when the works on its implementation began. It will be ready in 2013 and it will still be combined with a traditional...

Authorisation Requirement Maintained.
October 1, 2008... (From Polish News Bulletin) According to recent decision of the Constitutional Tribunal, press law articles stating that the publication of unauthorized interviews should be punished with a fine or imprisonment, are constitutional means of...

Poland Accused by EC.
October 1, 2008... (From Polish News Bulletin) Poland was accused by the European Commission at the European Court of Justice for failing to comply with directives concerning the operation of finance market, especially the update to regulations on dealings...

UKE Reproaches TP.
October 1, 2008... (From Polish News Bulletin) The Electronic Communication Office (UKE) reproaches TP for its quality of service. According to UKE, its land line phone service provided with the GSN technology does not fulfil the legal requirements imposed...

Social Security Agreement with Canada.
October 1, 2008... (From Polish News Bulletin) About 40,000 Poles will be able to take advantage of the the social security agreement between Poland and Canada, which came into force on 25 September. It will enable them to combine the periods of work in...

Domestic Violence Prevention.
October 1, 2008... (From Polish News Bulletin) The most important stipulations included in the amendment of the Domestic Violence Prevention Act are: initiating proceedings on domestic violence ex officio, isolating the victim from the culprit, a ban on...

Obligatory Treatment for Paedophiles.
October 1, 2008... (From Polish News Bulletin) The Justice Ministry submitted a penal code, penal proceeding code and executive penal code amendment for interministerial consultations. The changes are to concern obligatory medical treatment for paedophiles...

Public Registry Authorities.
October 1, 2008... (From Polish News Bulletin) The Senate Commission of Territorial Government and State Administration appealed for passing the Public Registry and Tax Fee bill with no corrections. The bill is to eliminate the ambiguity of the provisions on...

Doctors May Protest.
October 1, 2008... (From Polish News Bulletin) Members of the All-Poland Doctors' Professional Union are warning that the health care system reform, as proposed by the government, will cause chaos and social disturbance. The Union's president Krzysztof...

NEWLY BINDING LAWS.
October 1, 2008... (From Polish News Bulletin) Journal of Laws No. 170 from 22 September - the Health Minister's ordinance (pos. 1050) from 19 September, changing the ordinance on doctors and dentists' specialisations; came into force on 22 September....

OFT campaign highlights better protection for consumers buying in the home.
October 1, 2008... (From Government News Network) ] OFFICE OF FAIR TRADING 1 October 2008 OFT campaign highlights better protection for consumers buying in the home The OFT is launching a new awareness campaign to inform consumers that from today (1...

Strengthened consumer protections come into force.
October 1, 2008... (From Government News Network) ] DEPARTMENT FOR BUSINESS, ENTERPRISE AND REGULATORY REFORM 2008/225 1 October 2008 Strengthened consumer protections come into force A new system that will better protect consumers comes into effect...

Research reveals older people have the "know how".
October 1, 2008... (From Government News Network) ] DEPARTMENT FOR WORK AND PENSIONS PENS-081 1 October 2008 Research reveals older people have the "know how" FULL OF LIFE - UK OLDER PEOPLE'S DAY 1st October 2008 On UK Older People's Day new research...

Home extension freedoms begin today.
October 1, 2008... (From Government News Network) ] COMMUNITIES AND LOCAL GOVERNMENT 232 1 October 2008 Home extension freedoms begin today Improving your home just became a whole lot easier for tens of thousands of families Housing and Planning Minister...

New enhanced furniture framework agreement has sustainability at its heart.
October 1, 2008... (From Government News Network) ] OGCBUYING.SOLUTIONS FUR2609 1 October 2008 New enhanced furniture framework agreement has sustainability at its heart OGCbuying.solutions, an executive agency of the Office of Government Commerce in HM...

Time to pull together.
October 1, 2008... (From Guardian Unlimited) Last month the Republican convention was almost swept away by a hurricane that never happened. This week the Conservative conference has been overshadowed by a hurricane that only seems to be gathering in...

Is Cameron about to turn traditional Tory policy on its head?
October 1, 2008... (From Guardian Unlimited) Are the Tories about to emulate Disraeli's famous dishing of the Whigs 150 years ago, when they did a spectacular U-turn and backed the extending of the franchise after decades of supporting rotten boroughs? ...

Table talk.
October 1, 2008... (From Guardian Unlimited) Name your three desert island must-have ingredients Olive oil, fleur de sel and garlic. What would you have for your last supper? Something heavy in garlic, so the taste would stay with me. What...

Champions League: Arsenal v FC Porto - as it happened.
October 1, 2008... (From Guardian Unlimited) According to Arsene Wenger, the searing pain of Arsenal's defeat to Hull last weekend caused him to eject copious amounts of rich brown chunder long into Sunday morning . A sorry state of affairs and no mistake,...

Fears for Lloyds takeover of HBOS.
October 1, 2008... (From Guardian Unlimited) There was mounting anxiety about the rescue takeover of HBOS by Lloyds TSB today after wild movements in the banks' share prices heightened fears that the deal may not go through. Shares in Royal Bank of...

Tuesday memo: The gotcha voter.
October 1, 2008... (From Guardian Unlimited) Gallup daily tracking poll: Obama 50%, McCain 42% . In what must be her seventeenth interview with Katie Couric of CBS, Sarah Palin was joined by John McCain, who attacked "gotcha journalism," even though he...

Nudity's back.
October 1, 2008... (From Guardian Unlimited) Earlier this week, hirsute folkster Devendra Banhart showed the world his wares on the artwork for Surfing, the debut album from his new side project Megapuss. Of course, he's not the first to get naked in the...

All change at Birmingham.
October 1, 2008... (From Guardian Unlimited) When people are asked to compare David Cameron to a make of car, they apparently think of a Jaguar. Well, at 11 o'clock this morning there was a noisy grinding of gears and an acrid smell of rubber as his X-Type...

Balenciaga goes back to the future.
October 1, 2008... (From Guardian Unlimited) A fashion designer's job is dependent on his ability to predict the future - or at least what customers will want to buy in six months' time. But time can occasionally seem confused, because fashion's vision of...

Cable & Wireless provides light relief.
October 1, 2008... (From Guardian Unlimited) Away from the financials, there are some bright spots. Telecoms group Cable & Wireless , for example, is up 2.7p to 163p on growing hopes it will announce a demerger. Citigroup issued a buy recommendation and...

Military covenant vows fair treatment in return for soldiers' sacrifices.
October 1, 2008... (From Guardian Unlimited) In his judgment today criticising the government for its policy in not allowing Gurkha veterans to settle in the UK , Mr Justice Blake cited the historic military covenant between the armed forces and the nation....

Bush: banks rescue push helps reassure financial markets.
October 1, 2008... (From Guardian Unlimited) The White House joined forces with Congressional leaders to pledge that a fallen $700bn bail-out of the banking industry will be quickly resurrected, fuelling a sharp recovery on the financial markets as Wall...

Could Ofcom's Sky consultation make live football cheaper to watch?
October 1, 2008... (From Guardian Unlimited) Debate over Sky 's market influence over how much we pay to watch football is the pay-TV equivalent of Groundhog Day . So will today's news that regulator Ofcom may force Sky to make its football and movies...

Iris recognition for prisoners to deter drug abuses.
October 1, 2008... (From Guardian Unlimited) Prisoners are having the iris patterns in their eyes or their fingerprints recorded as part of a security initiative aimed at tackling drug dealing and preventing overdoses in jail. The Computer Controlled...

Gurkha veterans claim victory in court battle for UK visas.
October 1, 2008... (From Guardian Unlimited) Gurkha veterans who were refused visas to settle in the United Kingdom because they retired from the regiment before 1997 were treated unlawfully and the policy used to reject them was misleading, a high court...

Birds of prey slaughter provokes ugly standoff in Malta.
October 1, 2008... (From Guardian Unlimited) British birdwatchers trying to stop the illegal killing of some of Europe's rarest birds in Malta have become embroiled in an increasingly tense standoff with local hunters and say they have recovered...