Economy and Business Info

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The world economy is recovering from its worst recession in decades, although some regions such as North America and Asia, recorded slower growth, according to a study released today by the International Chamber of Commerce (ICC, for its acronym in English).

There was also a marked difference between the growth prospects of different regions. Globally, the economic sentiment indicator fell slightly from 104.1 in the second quarter of 2010 to 103.2 in the third quarter. This was in part a product of the fall in the indicators of two important regions, North America and Asia.

, the overall numbers continue to show substantial gains compared to the third quarter of 2009, when the global economic indicator was 79.6.

The Report of the Global Economy Quarterly was conducted by the If institute in Munich in cooperation with the ICC, for which questioned more than 1,100 experts in 166 countries.

Western Europe, whose economy seemed to be slowing in the previous report, had a surprise performance this quarter, with Germany as the engine of growth in the euro area thanks to rising exports.

In fact, Germany, with growth of 2.2 percent, had its strongest quarter since the reunification of Germany in 1990. However, the recession in Greece and the ongoing adjustment programs in Spain and restructuring in Portugal and Ireland temper Europe’s prospects.

Meanwhile, in North America, growth has slowed in the last quarter. High unemployment in the U.S., the weak private consumption and capital spending led to a less than satisfactory, according to experts consulted.

Meanwhile, there is evidence of a slowdown in the Chinese economy. While its growth rate remains impressive, the weakening of imports and retail sales, along with the Chinese government’s withdrawal of its expansionary monetary policy that we will have an economic slowdown in coming months.

In Africa, there is a strong contrast between South Africa and Kenya, which show positive signs, and other countries with a weak scenario, such as Tanzania, Gabon and Madagascar. South Africa received a boost from hosting the World Cup.

On trade and investment across borders, the study indicates that private consumption, which is key for growth in these areas, remains weak, influenced by high rates of unemployment. Another factor limiting trade is the lack of access to commercial financing in countries such as Spain, Bulgaria, Czech Republic, Hungary and Romania. These factors, in addition to the protectionist measures in countries like Germany, Denmark and Norway, contribute to the prospects for trade and investment are not the most positive.

Cava de Burgos was now “fully satisfied” with the authorization of the Government of Castile and Leon Civic joining Bank and said that this decision “represents a major milestone in shaping the Group and facilitates the cruising speed it wants to acquire for its implementation on 1 July. “

The Ministry of Economy and Employment announced this afternoon at Burgos entity authorized to accede to the Institutional Protection System (SIP) which is part of the integration of the Group that conform Cava de Burgos, Cava Navarre and Cava Canaries.

This communication also states the need to obtain licenses from other mandatory to start the integration process must provide both the Bank of Spain and Spanish monetary authority, as the Ministry of Economy and Finance, said in a statement picked up by Europe Regional Government Press.

The authorization also involves compliance with all terms of the contract establishing the SIP. Cava de Burgos must submit periodic information for follow-up, the Ministry of Economy and Employment.

According to Europe Press reported Civic Banking sources, the Ministry of Finance also announced today the signing of the Ministerial Order authorizing the Group to operate, once it received a favorable report by the General Directorate of Treasury and Bank of Spain.

“In front are the relevant entries and other administrative processes to see Civic Banking SIP as the first bank operating in Spain, without consuming resources of Fob, launching a pioneering business model and growth and internationalization as key challenges future, “sources said

Civic Banking Group continues moving towards the beginning of its financial operations on 1 July. This afternoon, has announced the approval by the Junta de Castillo y Leon Cava de Burgos for joining the project of integration of the Civic Banking Group. In his note, the Ministry of Economy and Employment of the Junta de Castillo y Leon also stipulates the need to obtain licenses from other mandatory to start the integration process must provide both the Bank of Spain and the Spanish monetary authority and the Ministry of Economy and Finance.

It has been precisely the Ministry of Finance who is also the group announced today the signing of the Ministerial Order authorizing the Civic Banking Group to operate, once it received a favorable report by the General Directorate of Treasury and the Bank Spain.

Ahead are the relevant entries and other administrative processes to see the Civic Banking Group as the first SIP bank operating in Spain, without consuming resources of Fob, launching a pioneering business model and growth and internationalization as key challenges future?

Satisfaction. Cava de Burgos is shown fully satisfied with the decision taken by the Ministry of Economy and Employment of the Junta de Castillo y Leon, valuing hard work in recent months by the latter. For Burgos entity represents a major milestone in shaping the Civic Banking Group and cruise speed facilitates the group wants to acquire for its implementation on 1 July.