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Energy probe
- The European Commission announced on Friday (11 May) an investigation into practices at German energy group RWE and Italian counterpart Eni. RWE is thought to have denied rivals access to its gas pipeline network. Eni, which was fined €272 million in November for participation in a rubber cartel, faces accusations of capacity hoarding and strategic underinvestment in the transmission system.
Property prices cool
- Property markets in the eurozone are cooling, according to a report released by the European Central Bank on Friday. The quarterly survey on bank lending in the euro area showed that demand for housing loans dropped significantly in the first three months of this year. Lending for house purchases, more than 10% at the end of last year, fell to an annual rate of 8.9% in March.
Tax information online
- The Commission launched on Friday an online database providing fiscal information for citizens and business. ‘Taxes in Europe’ offers information on around 500 taxes in the EU’s 27 member states, including personal income taxes, corporate income taxes, value-added taxes and excise duties. Social security contributions are also covered. The database can be reached through the website of the Commission’s department for taxation and customs union.
Production increases
- Seasonally adjusted industrial production increased by 0.4% in the eurozone in March 2007 compared with the previous month, according to figures released by EU statistics agency Eurostat on Monday (14 May). EU27 industrial output went up by 0.5% in March 2007, following an increase of 0.4% in February and a decrease of 0.5% in January.
Transport rules
- MEPs approved on Thursday (10 May) in a second-reading vote rules on awarding contracts for public passenger transport services by rail and by road. The rules would govern contracts between authorities and operators, compensation for fulfilling public service requirements, competition and transparency. The Council of Ministers is expected to push for a one-year delay to MEPs’ vote that rules should enter into force within two years.
Eurozone growth
- Eurozone gross domestic product in the first quarter of 2007 grew by 3.1% over 12 months, compared to 3.3% in the previous quarter, according to seasonally adjusted figures released by statistics agency Eurostat yesterday (15 May). GDP for the eurozone and the EU27 grew by 0.6% during the first quarter of 2007, compared to 0.9% in the previous quarter.
The EU’s carbon trading market reacted calmly yesterday (15 May) to a European Commission decision on Italy’s plans to allocate carbon dioxide (CO2) allowances under the Emissions Trading Scheme (ETS).
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