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Portugal hopes that an increase in exports of wine, cork and fruit will help reduce its trade deficit, said Monday the Portuguese Minister of Agriculture in an interview with Reuters.

Assunção explained Cristas want to restart the operation of unused land while providing incentives that would turn the trade deficit in food surplus.

Portugal is already the world's largest exporter of cork and the seventh largest exporter of wine. Its agriculture, which includes logging and the production of many varieties of fruits, olives and oranges through the strawberries and cherries, represents 10% of its gross domestic product.

But the fertility of its land and its mild weather did not permit him to achieve food self-sufficiency.

Production of the sector remains fragmented mainly because of the small size of many farms, inheritance of land reform following the Carnation Revolution of 1974 after decades of Salazar dictatorship.

Came to power last June in favor of early elections, the majority center-right led by

Pedro Passos Coelho hopes to reverse. 

"Our food exports have great potential even though we still have a trade deficit of 30%," said Assuncao Cristas Reuters.

If he succeeded in transforming its trade deficit in food surplus, Portugal could hope rebalance its overall trade balance, which would be of great help when he e ty forced last year to accept international assistance of 78 billion euros.

In 2011 already, the Portuguese trade deficit narrowed by 25% over the previous year to return to 15.2 billion euros.

This reduction is mainly due to the austerity measures imposed on the Portuguese with its implications on domestic demand. 

Meanwhile, food exports rose 17% last quarter 2011 to 1.2 billion euros. This increase is the second largest after the one recorded on refined petroleum products.

"The prospects for improved trade balance in the food are good, we planted lots of new land, for example, olive groves and vineyards," said the Minister of Agriculture.

"The food industry (…) can really help Portugal when domestic consumption is low."

According to forecasters, the Portuguese economy expected to contract 3% this year and the unemployment rate has hit a record 14%.

French consumer confidence is still very low, but gains a point in February, according to figures from INSEE. The morale of French households increased very slightly.

French consumer confidence has improved slightly in February. The indicator that measures it wins a point from January to climb to 82, a continued low level, INSEE announced Friday.

This is the second consecutive month of rise of this index, which had declined in December to its lowest level since December 2008, 80 points (against a long-term average of 100).

The French are less pessimistic because of a slight improvement in their moral outlook on their personal finances (2 points) and the overall standard of living in France (4 points).  

Households are also slightly less pessimistic about the evolution of unemployment (down one point in the index, 64) even though they "are almost as many as in January to anticipate an increase", said INSEE in a statement.

The Tokyo Stock Exchange closed up 0.54% Friday, the benchmark index ending the Japanese market to a higher-end seven months and with an increase of 9.6% over the month.

The Nikkei gained 51.81 points to 9,647.38, closing above 9,600 points for the first time since August. The Topix broader took 4.94 points (0.6%) to 834.29.

Investors are reassured by the strong U.S. data and policies to support the activity of several central banks, including that of Japan. Some analysts even expect that the Nikkei is testing, by next month, the threshold of 10,000 points.

But other market players believe that a correction could occur in the coming months.

"I think the correction will come in March or April and that (the Nikkei) sink to 9,000 points due to earnings forecasts revised downward for the next fiscal year", Ryota Sakagami esteem, chief equity strategist for Nikko Securities SMBC.

Values, Nippon Steel Corp. has been 3.51%, while Nomura Holdings, the first investment bank in the country, took 1.6%.

The CEO of the French cosmetics group L'Oreal, Jean-Paul Agon, announces its intention to cancel within the group's system of stock options in an interview with Journal du Dimanche in ; appear Feb. 19.

"Stock options pollute the debate. That's why I'm going to give up half of the stock options were granted to me in 2010, "says Jean-Paul Agon, who won 10.7 million euros in 2010 (including options and shares) according to the annual report published on February 14 Proxinvest

. "(Of the 400,000 stock options received 2010), I will keep 200,000 to share a dynamic performance with our shareholders, "the French boss highest paid in the CAC 40 in 2010 in the interview excerpts of which were published on the newspaper's website Saturday

. "And in April, I will propose to the Board a complete halt of the system of stock options L'Oreal, for everyone and this year. "

Instead of stock options which benefit coefficient to 2.300 people in the group, the CEO of the world's number one cosmetics, had already relinquished his stock options in 2009, wants to establish a system of performance shares.

"After four years of house, our managers will receive bonus shares if the company met certain performance criteria. It is more transparent and less random," he says.

Asked about executive compensation in large groups, he said: "The public interest is not to lower wages, but business leaders have a tax system that generates more redistribution. I fully assume my signature to the call of the Nouvel Observateur to pay more taxes. "

Sixteen heads of major French companies signed in August in the columns of a weekly call for the establishment of an "outstanding contribution" of the French the most favored reducing government deficits they believe threaten "the future of France and Europe"

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PagesJaunes intends to forego the dividend in 2012 as a precaution in order to give maximum flexibility to consider options to refinance its debt, said Wednesday its director gen ; eral Jean-Pierre Remy.

Heavily in debt, the publisher of printed directories and online, announced Wednesday he will propose to the unusually next general meeting of shareholders to pass the dividend for in 2011.

"The current market conditions are not particularly favorable (…) and therefore we consider that we must maintain maximum flexibility in the short term in our choice of financing options," said Jean-Pierre Remy. 

The shareholder of PagesJaunes, Mediannuaire, supports "full" this initiative is in no way representative of the political future of the group's dividend, he said ;.

The leader of the French group said he was "serene" about the group's ability to refinance the last installment of its debt, which matures in November 2013, while pre , specifying that the formal process had not yet been committed.

"The scenarios are very wide, very open. We want to give it time," said Jean-Pierre Remy, adding that the refinancing would likely over the next 12 months.

This is one of several government ministers who resigned amputee who is granted in terms of the IMF and the European Union on Friday, while the Greek street is angry. Greek Prime Minister Lucas Papademos on arrival at a cabinet meeting in Athens. According to government officials, the Greek government on Friday approved a bill involving the country in the reforms demanded by the European Union and the International Monetary Fund for the implementation of a second bailout of 130 billion euros. (Reuters / Panayiotis Tzamaros)

Some resignations later … The Greek government has finally approved, this Friday night, a bill involving the country in the reforms demanded by the EU and the International Monetary Fund for the implementation of a second bailout of 130 billion euros, according to government officials.

The bill should be voted by parliament Sunday, which would make Greece a financial solution so that Athens must pay 14.5 billion euros of bonds maturing next month. The country will not honor these debts without further aid.

The European Union urges the Greek government to provide details of further cuts in public spending of $ 325 million.

It also requires a clear commitment of party leaders of the coalition government to implement reforms.

"We can not let Greece go bankrupt. Our priority is to take steps to adopt the new economic program and the new loan agreement. It goes without saying that those who disagree and do not vote for the new program can not remain in government ", said Prime Minister Lucas Papademos to the Cabinet

…. Friday ….., the Greeks began a 48-hour general strike to protest the new austerity measures demanded by international creditors and which Athens could not be the economy, according to Finance Minister Evangelos Venizelos, at least of leaving the euro

. Clashes between protesters and police erupted Constitution Square (Syntagma), but to Parliament protests , followed by relatively few, have generally been peaceful

. The first police union, which accused the International Monetary Fund (IMF) and the European Commission undermine democracy and national sovereignty, expressed his wish not to act against their "brothers". A local newspaper also publishes a photo montage showing German Chancellor Angela Merkel in a Nazi uniform.

The four government members from the LAOS, far-right party that belongs to the governing coalition, submitted their resignations in protest against the demands of international creditors, reports news agency ANA. George Karatzaferis, leader of the movement, had previously ruled to endorse the new austerity plan.

The device provides for a 22% decrease in the minimum wage, the elimination of 150,000 jobs in the public and reduced pensions.

For many Greeks, impoverished by five years of recession, in a country where unemployment affects one in five working where shops are closing one after the other, these new measures are unacceptable.

Industrial production in France fell 1.4% in December, after rising 1.1% in November, according to data published by INSEE Friday.

Production of manufacturing industry also falls down 1.4% after 1.4% last month.

All 20 economists polled by Reuters on average expected industrial production down 0.8% in December, with estimates ranging from -1.5% to 0.5%.

The number of manufacturing output in November was revised, INSEE has announced a 1.3% increase in first.

Over the last three months of 2011, production decreased in manufacturing by 0.5% over the previous quarter and the entire industry fell by 0.8 %. 

Production is declining in other industrial products (-0.9%) and in electrical, electronic, computer, machinery (-1.1%).

It increases by 1.6% in transport equipment.

Production increased even more in the coking and refining (+4.6%).

Over one year, manufacturing output for the last three months is up 2.1%.

Over the same period, production increases in other industrial products (1.3%), in electrical, electronic, computer, machinery (+1.1%) and transport equipment (+3.1%).

In the coking and refining, the increase is much higher (20.2%), INSEE noting that production was unusually low in October 2010 because of strikes in the sector.

It is Sweden who wins, this year, the prize for most innovative countries in the European Union, according to the dashboard of innovation lately published by the European Commission. As for France, among others overtaken by the Nordic countries, Germany and the UK, she had to settle for 11th place. Even if all Member States have made progress in the race for innovation, they fail to bridge the gap between them that are world champions the United States, Japan and South Korea. Involved, the lack of R & D in the private sector. To compare the performance of the 27 EU countries, as many as 24 indicators have been explored, from the resources devoted to research, business involvement, through the introduction of new technology or economic effects innovation. In pictures, the ranking of EU countries involved in the innovation race. 1/14

Previous Previous PauseSuivant 1. Sweden: Champion of Innovation Next Photo 2/14

Previous Previous PauseSuivant 2. Denmark: innovation champion Next Photo 3/14

Previous Previous PauseSuivant 3. Germany: innovation champion Next Photo 4/14

Previous Previous PauseSuivant 4. Finland: innovation champion Next Photo 5/14

Previous Previous PauseSuivant 5. Belgium: follower innovation Next Photo 6/14

Previous Previous PauseSuivant 6. UK: follower innovation Next Photo 7/14

Previous Previous PauseSuivant 7. Netherlands: follower innovation Next Photo 8/14

Previous Previous PauseSuivant 8. Austria: follower innovation Next 9/14

Previous Previous PauseSuivant 9. Luxembourg: follower innovation Next Photo 10/14

Previous Previous PauseSuivant 10. Ireland: follower innovation Next Photo 11/14

Previous Previous PauseSuivant 11. France: innovation follower Next Photo 12/14

Previous Previous PauseSuivant Slovenia, Cyprus and Estonia: followers of innovation Next Photo 13/14

Previous Previous PauseSuivant The moderate innovators Next Photo 14/14

Previous Previous PauseSuivant Innovators modest Next

Germany has registered a growth of 0.5% of GDP in the third quarter. Much better performance than the average for the euro area (0.2%). However, analysts expect a stagnation or a decline in GDP in the fourth quarter. The German Chancellor Angela Merkel

Germany has registered a growth of 0.5% of its Gross Domestic Product (GDP) in the third quarter, a better performance than its French neighbor, which attests to the strength of the first European economy to the air hole waiting . Without revive its vitality from the beginning of the year (+1.3% in the first quarter), growth resumed during the summer months, depending on the initial estimate at constant prices and seasonally adjusted, published Tuesday by the Federal Statistical Office Destatis.

Ryanair said Monday it has increased by 10% its profit forecast for 2011-2012, an increase in revenue per passenger per mile to offset the high cost of kerosene.

The first low-cost airline said he had been European virtually no impact of the decline in consumer confidence but added that traffic would fall in coming months because it had grounded 80 planes in response to high fuel prices.

"Bookings are well underway for months at a level slightly higher than the same period last year," said Howard Millar, Ryanair's chief financial officer.On its first half, earnings totaled 543.5 million euros, up 20%, while sales amounted to 2.71 billion euros.

On this six-month period, the number of passengers carried increased by 12% and rates of 13%, while costs increased by 13%, mostly in kerosene.

Lufthansa and International Airline Group (IAG) both announced last week the results strongly affected by rising fuel costs.

Howard Millar said further that the sale of 29% stake in its competitor Ryanair's Aer Lingus would probably be more to the agenda in the coming months, since British Airways, which could be the 'prospective purchaser had bought bmi.