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The European Investment Bank (EIB) today granted a EUR 260 million loan to Gamesa to support its research, development and innovation (RDI) activities in the field of wind turbine generators.

This is the EIB’s third loan to Gamesa for RDI in the past eight years.

EIB Vice-President Magdalena Álvarez Arza said that “the EIB’s commitment to RDI – especially in a sector with such great potential and importance as renewables – is key to ensuring a secure, sustainable and competitive energy supply for Europe. The Bank’s contribution therefore goes beyond providing long-term finance in the current credit crunch. With this loan we are investing in the future and laying the foundations for the development of new products and technologies that will bring quality growth in the years ahead.”

“Innovation in the wind sector remains key to the development of more competitive products and services geared to ever more challenging demand. This EIB loan on favourable terms will enable us to carry out our ambitious product development programme and meet the present and future needs of our communities with cutting-edge technologies”, added Ignacio Martín, Chairman and CEO of Gamesa.

This EIB loan will support Gamesa’s RDI investment programme aimed at designing and developing on and offshore wind platforms with greater capacity and a lower energy costs. The project will aid the development of an important renewable energy technology and strengthen Gamesa’s capacity for innovation and competitiveness. The programme will be carried out over the next three years.

The investments financed by this loan meet the EIB and the EU’s objectives of ensuring a sustainable, competitive and secure energy supply and fostering businesses’ technological capacity. The EIB is heavily involved in financing investments aimed at increasing Europe’s economic competitiveness and supports RDI projects – especially in the energy sector – under its climate action programme.

Finland has got a good grading on factors such as property rights, innovation and corruption on Forbes' ranking.

Forbes, the American business magazine, has ranked Finland as number 9 in its annual ranking of “Best Countries for Business”. The top country in this year’s rankings is New Zealand followed by Denmark, Hong Kong and Singapore.

Forbes determines best business countries by grading 141 nations on 11 different factors including property rights, innovation, taxes, technology, corruption and freedom. Finland scored especially high in property rights (1), innovation (3) and corruption (2).

Finland first in property rights

Forbes notes that the great challenge of Finnish economic policy will be to mitigate a possible recession in 2012, and in longer-term “Finland must address a rapidly aging population and decreasing productivity that threaten competitiveness, fiscal sustainability, and economic growth.”

Forbes uses research and published reports from organisations such as the Central Intelligence Agency, World Bank and World Economic Forum when evaluating business climate and opportunities of different countries.

More information here

More than a third of service jobs are in the public sector, demonstrating its importance as a potential customer in the Finnish market.

Employment in the service industries constituted 72.9% of all jobs in Finland in 2010 and remained at the same level as in the previous year, according to Statistics Finland. The share of service sector jobs from all jobs has increased by 5.6% in the period 2001-2010.

The biggest employer within services was the health and social services sector, followed by the wholesale and retail trade. The public sector (municipalities and the state) provided jobs to 37.3% of people working in the service sector, which shows the importance of the sector as a potential customer in the Finnish market.

Women made up 60% of the employees in the service sector. The share of female employees in the health and social services sector was 88.4%, while in accommodation and catering activities the figure was 72.1%. Men had the highest share of jobs in transport and storage (77.6%) and in the information and communications sector (64.0%).

The average age of people working in Finland’s service sector was 42. Employees in the real estate sector had the highest average age of 46. In terms of regions, Uusimaa, which includes the Helsinki metropolitan area, had the highest employment in services with 81.5%, followed by the Åland Islands with 81.0% and Lapland with 72.7%.

Source: Statistics Finland

The UK has historically been a popular holding company location as a commercial gateway to Europe.

From a tax perspective, there is a strong treaty network, a dividend exemption, an exemption from capital gains on disposal of shares, and no WHT on dividends, although the previously high headline rates and complex legislation has deterred some groups.

Commercially, the UK offers stability, both politically and economically, and has extensive links with the rest of Europe. Whilst the UK work force is well educated, the level of linguistic skills is often limited to English. The key sectors for the UK include construction and property, financial services and media and entertainment.

With a free health service and good schools it can attract high-caliber expatriates. As the cost of living in the South is high, expatriates will expect high remuneration packages. In terms of IP, the UK has a favorable, Although complex, R&D tax regime which offers generous tax deductions and credits, the magnitude of which depends on the size of the group. This is currently under review and it is expected that the regime will be changed with effect from April 2013 to be more favorable for larger groups.

Corporate taxation

The headline rate of corporation tax is 24% from 1 April 2012 (26% prior to this date). The Government has announced its intention to reduce this by 1% each year for the next two years bringing this down to 22% by 1 April 2014.

Source - Grant Thornton

The EU Delegation to Turkey in partnership with the Ministry of Economy of Turkey and the Union of Chambers and Commodity exchanges of Turkey (TOBB), launched “EU-Turkey Global Business Bridges”, a new initiative to encourage trade and investment partnerships between EU and Turkish companies in third countries.

EUROCHAMBRES will participate in the recruitment of EU businesses to get involved in the three matchmaking events already foreseen for 2013.

The first matchmaking event will take place in Antalya on 20-23 February and will present the manifold opportunities for EU-Turkish business activities in Egypt, Tunisia, and the Palestinian Territories. Interested companies can apply till 30 November.

"EU-Turkey Global Business Bridges" website

The Second Invitation for the submission of proposals on technological cooperation between Brazil and Israel was released on Monday (November 5), in a meeting at the Ministry of Development, Industry and Foreign Trade (MDIC).

The initiative is part of the activities envisaged in the 2007 Memorandum of Understanding (MOU) on Bilateral Cooperation in Industrial Research and Development in the Private Sector.

The new phase of the project is aimed at three sectors considered to have the greatest potential for industrial cooperation between the two countries: Defense, Health and Information and Communication Technology (ICT). The initiatives will be linked to the sector policies of the "Greater Brazil Plan" and will receive support from partners in each segment to identify companies interested in participating and opportunities for research.

"The cooperation between Brazil and Israel will be beneficial for both countries," said Michel Hivert, MATIMOP Managing Director. "Bringing together characteristics from each country, such as Israel's experience in R&D, with the robustness of Brazilian industry, is something that will bring enormous advances," added Hivert. The Department of Innovation emphasized this assessment in its presentation, stating that bilateral partnerships focusing on research are an international trend that is coming to Brazil.

In order to participate, companies need to follow three steps. Details regarding registration and the process involved and can be found at www.brasilisrael.mdic.gov.br

Afterwards, the company must find a partner in Israel and prepare a proposal. A database of organizations in the two countries is available on the site to facilitate searching. The deadline for submission of proposals using the Cooperation Form is April 22, 2013. The evaluation and selection of proposals will be completed on May 23. Thereafter, those approved will receive guidance on the best credit lines suited to their projects and will have until July 1 to complete the funding application. All details regarding the process can be found on the Portal.

Qatar Airways has celebrated yet another historic milestone as its first Boeing 787 Dreamliner landed on home turf in Doha greeted by hundreds of cheering onlookers.

The State of Qatar's Prime Minister and Minister of Foreign Affairs, His Excellency Sheikh Hamad bin Jassim bin Jaber Al Thani was among the many visitors to the aircraft soon after it touched down in the country.

VIPs, media, airline and airport staff, together with passengers watched with excitement as Qatar Airways’ brand new state-of-the-art Dreamliner swooped into Doha International Airport marking the start of a new era in Middle East aviation.

Qatar Airways is the region’s 787 launch customer with 60 aircraft on order for delivery in phases over the next few years.

Chief Executive Officer Akbar Al Baker, who was onboard the delivery flight, was joined by almost 100 passengers privileged to be on the maiden 13-hour journey direct from Seattle, the US west coast home of American aircraft manufacturer Boeing. Those onboard included international media, senior management from Qatar Airways and Boeing, as well as third party suppliers from companies involved in the 787 project.

The 787 will spend a few days positioned at Doha International Airport giving staff an opportunity to tour the aircraft before it enters commercial service for a few weeks on selected Doha – Dubai flights from November 20 and then deployed long-haul on one of the five daily London Heathrow services.

Seats on the 787 Doha – Dubai flights are now bookable online at qatarairways.com, through any Qatar Airways reservation office or local travel agent.

As more 787s join the fleet over the next few weeks, the aircraft will be inducted on other long-haul routes including Zurich, Frankfurt and Delhi.

Upon arrival in Doha, Al Baker hosted a press conference at which he spoke of his pride and joy on behalf of Qatar Airways of the world’s most advanced passenger aircraft joining the airline’s rapidly growing fleet that now totals 112 jetliners.

“This truly is an historic moment for our country, our people and our airline and on behalf of Qatar Airways, a great privilege to be standing here having flown our newest aircraft,” he said.

Al Baker credited the development of Qatar Airways into the world’s best airline to the vision of The Emir of Qatar, His Highness Sheikh Hamad bin Khalifa Al Thani, and outlined the role the new 787s would play in the fulfillment of that vision:

“Through the inspired vision of our country’s leader The Emir, Qatar Airways has rapidly evolved into a world-class international airline that has set new standards in service and excellence mirroring the country’s ambitions, aggressive growth and rapid development.

“The 787s are next generation aircraft that allow us to maximise long-haul route opportunities with greater fuel and cost efficiency and, importantly offer our passengers a different travel experience with new levels of space and comfort.”

Added Al Baker: “For the men and women at Qatar Airways who have been part of this wonderful 787 project, this is a moment to cherish, having devoted their energy to make today the historic moment it is, and recognising this wonderful engineering masterpiece.

“I am delighted that tickets on our 787 flights are now bookable on selected commercial services between Doha and Dubai, as it flies short sectors to familiarise our crew with the aircraft.”

Boeing Commercial Vice-President International Sales Middle East, Marty Bentrott, said: “Boeing and Qatar Airways once again demonstrate a close working partnership between the two companies that is clearly reflected in the 787 programme.

“This aircraft has already shifted the goalposts in the industry in terms of comfort and operating efficiency and I am delighted to see Qatar Airways will continue to live up to its high service standards with their new 787s and continue to be an industry leader promoting excellence in everything it does.”

A Boeing customer since 2007 with 31 triple seven passenger and cargo aircraft in its fleet, Qatar Airways has now added its first 787 that features specially designed interiors, spacious cabins, custom-made seats and the latest inflight technology across its Business and Economy Class. Furthermore, Qatar Airways’ Dreamliners are also the world’s first fully connected 787s with wireless facilities for passengers to remain in touch with their friends and loved ones on the ground.

The new aircraft has 254 seats in a two-class layout of 22 seats in Business Class in a 1–2–1 configuration, turning into flat beds with plenty of space to work, sleep, eat or relax. In Economy Class, there are 232 seats in a 3–3–3 spacious layout.

A striking feature of every seat throughout the aircraft is the award-winning touch screen Android system, where passengers are able to navigate through a truly interactive service offering more than 1,000 movie, TV programmes, music and gaming entertainment options in a sophisticated and user friendly way, just like the latest smart phones

The touch-screen control unit has a unique dual screen interface allowing passengers to play games on their handheld device while enjoying a movie on their personal screen. Passengers are also able to be fully connected through WIFI and GSM telephony, sending both text and MMS messages, with each seat equipped with USB, MP3 and other charger ports, including laptop power outlets.

The new Boeing 787 Dreamliner is also complemented with a recently-introduced new inflight culinary menu being rolled out across all services. Four award-winning culinary ambassadors –Chef Ramzi Chwayri, Chef Vineet Bhatia, Chef Tom Aitkens and Chef Nobu Matsushisa – have joined forces with the Doha-based airline to create a new range of signature dishes.   

In addition, dynamic mood lighting and the composite design of the Dreamliner with lighter materials will ensure passengers are less fatigued and more refreshed as the cabin pressure is 2,000 feet closer to ground level with an air purification system that is cleaner and healthier than many other aircraft.

One of the world’s fastest growing airlines, Qatar Airways has seen rapid growth in just 15 years of operations, currently flying a modern fleet of 112 aircraft to 120 key business and leisure destinations across Europe, Middle East, Africa, Asia Pacific, North America and South America.

Since the beginning of 2012, Qatar Airways has launched flights to 10 new destinations – Baku (Azerbaijan); Tbilisi (Georgia); Kigali (Rwanda); Zagreb (Croatia), Erbil (Iraq), Baghdad (Iraq), Perth (Australia), Kilimanjaro (Tanzania); Yangon (Myanmar) and Maputo (Mozambique).

Over the next few months, Qatar Airways will launch services to a diverse portfolio of new routes, including Belgrade, Serbia (November 20); Warsaw, Poland (December 5), Gassim, Saudi Arabia (7 January 2013); Najaf, Iraq (January 23); Phnom Penh, Cambodia (February 20); Chicago, USA (April 10); and Salalah, Oman (May 22).

EUROCHAMBRES will intensify its engagement in EU-Latin American business relations in January 2013.

It will play an active role in the Mission for Growth to Peru and Chile with European Commission Vice-President Antonio Tajani; in the EU-CELAC Business Summit in Santiago de Chile; and finally in the EU-Brazil Business Summit in Brasilia, Brazil.

The sequence of these high-level events brings unique opportunities for EU companies to enhance their presence in Latin America.

More information here

Finnish consumers are expected to increase spending during the Christmas season despite economic uncertainties.

Christmas retail sales will grow by about 2.5% in Finland despite the current economic uncertainties, according to a forecast by the Federation of Finnish Commerce. “Consumer confidence in the economy is currently low so 2-3% growth is a positive thing,” says Jaana Kurjenoja, chief economist of the federation. Last year retail sales in Finland increased by 3.6% during the Christmas season, according to Statistics Finland.

The Christmas season that officially starts from the beginning of December is the most important period of the year in many retail sectors. The total value of the retail trade in Finland usually increases by about 25% compared to the average monthly sales. In the daily consumer goods sector the increase is about 20%, whereas department stores can enjoy sales growth of more than 60%.

Major sales boost

The Christmas season is especially important for bookshops and goldsmiths where sales can more double from their usual level. For goldsmiths, Christmas sales account for up to a fifth of their annual sales. Other product groups that enjoy a major sales boost in December include home appliances, IT and electronics, toys and alcohol, all of which increase their sales by up to 50%. Sales of clothes and shoes usually increase by about a third, while sales of sports equipment go up by a third in December.

“The sales of IT goods and phones have grown very fast earlier this year and this trend will also continue during Christmas. In recent years people have also started buying gift vouchers during the Christmas season which is visible, for example, in stores selling youth fashion products,” says Kurjenoja.

Source: Federation of Finnish Commerce

A Visiongain Defence Analyst stated that: ‘Brazil is set to use its emerging economic growth to build up a strong domestic defence industry in parallel with the modernization of its armed forces over the next decade.

In order to counter threats across its borders and to its natural resources, alongside the security preparations required as the host of major international events, Brazil is undertaking large scale defence projects for fighter aircraft, transport aircraft, submarines, naval vessels and extensive border monitoring systems, demonstrating the country’s ambitious long term defence spending plans.’

The report has 259 pages and contains 280 tables, charts and graphs that utilise visual representation in order to clarify trends and market projections within the Brazilian Defence Market.

Visiongain provides forecasts for the overall Brazilian Defence Market as well as the Operational and Acquisitions and Investments budget for the period 2012-2022. In addition, the report assess 3 subcategories within the Acquisitions and Investments budget – Air Systems, Ground Systems and Naval Systems – and 17 submarkets across all 3 subcategories for the period 2012-2022. The report provides profiles of 25 leading companies operating within the market, and includes an interview with ECA Group American Latina Ltd, providing expert insight alongside Visiongain’s analyses.

The Brazilian Defence Market 2012-2022 report will be of impressive value to current and future investors into future Brazilian defence contracts and the overall Brazilian defence industry, as well as to companies and research centres who wish to broaden their knowledge of the Brazilian defence market.

For further information - The Brazilian Defence Market 2012-2022 report

Germany's BASF SE, the largest diversified chemical company in the world, has launched its USD55m expansion in China by opening its new Greater China headquarters and Asia Pacific Innovation Campus in Shanghai.

BASF said the newly-inaugurated headquarters will further cement its foothold in China, which is BASF's third-largest market worldwide.

The innovation campus will be BASF's R&D center in China and the company's largest facility outside of Germany, employing more than 2,500.

Minister Marco Antonio Raupp from the Ministry of Science, Technology and Innovation (MCTI), and the Russian ambassador in Brazil, Sergey Akopov, discussed new possibilities for cooperation in science and technology on Thursday (October 25) in Brasilia.

The meeting precedes a visit by President Dilma Rousseff to Russia which is scheduled for December.

Participants in the meeting included MCTI Secretary of Technological Development and Innovation, Alvaro Prata, the President of the National Council of Scientific and Technological Development (CNPq/MCTI), Glaucius Oliva, MCTI Head of the Office of International Affairs, Ambassador Carmen Ribeiro Moura, and the Director of the Department of Scientific and Technological Issues of the Ministry of Foreign Affairs, Ambassador Benedicto Fonseca Filho.

Akopov gave an account of the events scheduled for the coming months, with the participation of Brazilian and Russian representatives, serving as an environment for future negotiations. The International Forum on Development and Innovation, which takes place from October 31 to November 2 in Moscow and will be attended by Secretary Prata, and the Meeting of the Brazil-Russia High-Level Commission, to be held in February in Brasilia, were both highlighted.

"Science and technology is a priority for our bilateral relationship. We have many projects and I hope that, together, we can put them into practice," said the ambassador, who presented proposals for cooperation in biotechnology and solar energy to the Brazilian minister. Minister Raupp has already expressed Brazil's interest in developing new cooperation activities, particularly with regard to the Science Without Borders program and in the areas of satellite technology and radiopharmaceuticals.

Announcements regarding the segments mentioned by the Minister of Science, Technology and Innovation will be made on his visit to Russia, on November 26 and 27, accompanied by representatives from the Brazilian Space Agency (AEB/MCTI) and the National Commission of Nuclear Energy (CNEN/MCTI). "It is our responsibility to strive to build something concrete in these events," said the minister.

The president of the CNPq, Glaucius Oliva, spoke of the importance of deepening dialogue on cooperation within the Science without Borders program. "We have not entered into agreements with Russia yet and one of the obstacles is the language. Russia has excellent institutions in many areas," he said. "It is time we made the most of this mobilization and closer relations between the two countries to consolidate this."

History of cooperation

The starting point for Brazilian-Russian relations in the field of science and technology was the Agreement Establishing the Brazilian-Soviet Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation signed on April 16, 1981. In 2010, representatives from the two countries signed the Strategic Partnership Action Plan, whose aim was to prioritize areas of cooperation among those selected in the 2010-2012 Cooperation Program. The plan establishes the intensification of scientific and technological cooperation.

In addition, the program aims to promote cooperation between research and scientific institutes of the two countries in the areas of scientific and technological information, metrology and the technological cooperation network in HIV/AIDS, as well as in condensed matter physics, nanotechnology, new materials, biotechnology, medicine, information and communications technology, the effect of the environment on human health, physics and mathematics.

Source – Invest in Brazil

We publish two articles with a direct connection with China and two pieces with more general or indirect links to China.

Heinz-Jürgen Büchner gets back to the issue of Chinese influence on commodity prices. Hubert Fromlet points at a large number of challenges for the new Chinese leaders.

Important financial issues that concern more Asian countries – and not only China – are discussed by Nicolas Véron who wants to see more Asian leadership in global financial reform discussions. And Mauro Toldo makes a comparison between the Brazilian and Mexican economies and how these two countries are affected by Chinese strategies and competition.

Read on and Enjoy – Chinaresearch

India today exuded confidence of achieving the USD 100-billion bilateral trade target set with China by 2015 and hoped the issue of New Delhi’s widening trade deficit with Beijing will be addressed.

“The target of USD 100-billion bilateral trade would not be difficult to achieve by 2015,” Joint Secretary in the Ministry of Commerce and Industry Asit Tripathy said.

He said both nations should strive to attain a sustainable balanced trade, which is currently in favour of China.

Tripathy was speaking at the inauguration of the “India Show” in Beijing, where more than 80 Indian automobile companies are participating.

The exhibition is being organised by CII in association with Ministry of Commerce and Industry and Indian Embassy in Beijing at the China International Auto parts Expo, which is in progress, CII said in a statement.

Besides, CII has sent a 19-member business delegation to China to discuss ways to strengthen trade and investment ties between the two countries.

In 2011-12, the bilateral trade between the two countries stood at USD 75.45 billion. While India’s exports were at USD 17.90 billion, imports stood at USD 57.55 billion. Thus, the trade deficit between the two nations stood at USD 39.65 billion in favour of China.

Indian Ambassador to China, S Jaishankar, said the economic cooperation between India and China in the last decade has been a remarkable story.

“While this is heartening, it has posed its own challenges in terms of a trade deficit, which is difficult to sustain or to defend. Market access for Indian companies (in China) is a major concern…,” he said.

Also, he said, a number of Chinese auto manufacturers are contemplating projects in India.

CII President Designate S Gopalakrishnan said Indian companies, operating in areas like manufacturing and IT, are also investing in China.

He added that more than 200 Indian companies are currently present in China. These companies apart from tapping the domestic market have been using China as their base to produce for other markets.  

Source – Financial Express