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The German Bundesbank plans to move all gold reserves out of Paris and reduce US reserves. (EUOBSERVER.COM)

The European Investment Bank has granted a loan of EUR 125m for the global research, development and innovation programme of Danish engineering company FLSmidth. The financing is dedicated to supporting R&D activities for the cement and minerals (mostly non-ferrous metals) processing industry.

The German economy grew by 0.7% in 2012, a sharp slowdown on the previous year, preliminary figures show. The figure was well below the 3% growth seen in 2011 and suggests the economy contracted in the fourth quarter. (BBC.CO.UK)

MEPs zesterday called for tougher legislation to curb the behaviour of credit-rating agencies, saying that new rules expected to be approved tomorrow do not go far enough. The European Parliament, which is meeting in plenary session in Strasbourg, is scheduled to hold a vote on the legislation today.(EUROPEANVOICE.COM)

The European Union has decided to bring forward the first part of its 2013 assistance package for the Palestinian people to the beginning of the year in order to ensure that the support to the Palestinian Authority (€60 million) and United Nations Relief and Works Agency for Palestine Refugees in the Near East (€40 million), who provide vital services to the Palestinian people, is not interrupted.

The first estimate for the euro area trade in goods balance with the rest of the world in November 2012 gave a 13.7 bn euro surplus, compared with +4.9 bn in November 2011. The October 2012 balance was +9.3 bn, compared with -0.7 bn in October 2011. In November 2012 compared with October 2012, seasonally adjusted exports increased by 0.8% while imports fell by 1.5%. The first estimate for the November 2012 extra-EU27 trade in goods balance was a 1.7 bn euro deficit, compared with -9.3 bn in November 2011. The October 2012 balance was -9.8 bn, compared with -11.3 bn in October 2011. In November 2012 compared with October 2012, seasonally adjusted exports rose by 1.1% while imports decreased by 3.0%.

A rebel faction of France‘s main conservative opposition party, the UMP, has been dissolved after a deal to hold a new leadership ballot emerged. (BBC.CO.UK)

A married couple have gone on trial in Germany for spying in what German media say is one of the most intriguing cases since the end of the Cold War. (BBC.CO.UK)

 

Top-rated eurozone countries Finland and Luxembourg no longer face the threat of a downgrade from Standard & Poor’s. The credit rating company lifted the two AAA rated countries from negative to stable while keeping the Netherlands, which also has the top rating, on a negative outlook. (EUOBSERVE.COM)

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