Syrian Business Club

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• 14/11/2009

  European economy returns to growth in year's third quarter

  The combined economy of the European Union grew in the third quarter of 2009. However, it was the first growth in five quarters, and the economies of Spain and Britain continued to shrink.
  
  The economy of the European Union returned to growth for the first time during the third quarter of 2009 after five quarters of falling output. It shrank a record 2.5 percent in the first quarter of the year.
  
  Gross domestic product grew 0.4 percent in the 16 countries which share the Euro as a currency and 0.2 percent in the 27 countries which comprise the European Union.
  
  Germany and France led the European Union out of recession with surprise gains in the second quarter of this year. The German GDP has continued to grow by 0.7 percent during the third quarter of this year, and the French GDP by 0.3 percent.
  
  But consumers have been protected by extremely low interest rates, and it remains to be seen what will happen as stimulus programs expire.
  
  Emerging markets compensating for global loss
  
  Norbert Walter, chief economist at the Deutsche Bank in Frankfurt, said the third quarter results this year are not surprising as they can be traced back to decisions in financial politics such as car-scrapping subsidies in Germany or the lowering of sales taxes in Britain. Funds for Germany's car-scrapping subsidy were depleted by early September.
  
  "What is positive is the visible and recognizable recovery of the emerging markets in Asia," he told Deutsche Welle. "Asian countries were not afflicted by the financial crisis. Practically none of the banks there lost money the way European and American banks did. And these countries rarely have high national deficits, so they can compensate for international weakness through strong impulses in financial politics. This applies to China, especially."
  
  Although developing markets grew worldwide and positively influenced Western economies, their value added to the global economy is not enough to compensate for losses in Europe and the United States, according to Walter.
  
  "I believe that many industrialized countries will have to come to terms with weak growth in early 2010, if any at all," he said.
  
  
  In Britain and Spain, economies have continued to shrink. The British GDP dropped by 0.4 percent and the Spanish GDP by 0.3 percent.
  
  Sandra Schmidt of the Centre for European Economic Research in Mannheim said, while recession in Britain and Spain is not over, both countries were already lagging during recovery in the second quarter of the year.
  
  "While results there continue to be negative, they are less negative than they were in previous quarters," she said. "The question now is how the economy will recover as support mechanisms expire. I believe the positive trend will continue, but that isn't to say it will be fast."
  
  Britain and Spain are affected by structural problems which may take years to correct, according to Deutsche Bank's Walter. Britain must come to terms with the shrinking of its financial sector, which is considerably larger than that of Germany or France, and Spain's construction industry has been hit by collapsing real estate prices due to a shrinking population, he said.
  
  Author: Gerhard Schneibel
  
  Editor: Susan Houlton
  
  Source: http://www.dw-world.de/dw/article/0,,4891260,00.html?maca=en...
  
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• 07/11/2009

  Business Opportunity: Halal food market on the rise

  Muslims in Europe have long struggled to find halal food products, which abide by Islamic law. But now businesses are realizing there's a lot of money to be made catering to the growing Muslim population.
  
  
  It is just after working hours, and customers are slowly rolling into the Uemit Turkish supermarket in Bonn. The shelves are packed full with Turkish delicacies, and colorful fruit stands stretch across the front entrance. A handful of shoppers have made their way to the halal meat counter at the back of the store.
  
  Rabia Kasik, a young store clerk, says their customers like to shop there because it is one of the few places in Bonn where Muslims can buy halal food, including chicken patties, beef burgers - even gummi bears.
  
  "People can find halal food here, and in a few other specialty markets - but not in many other places. It is difficult for Muslims in Germany, because everything is mixed with pork," Kasik says.
  
  Halal is an Arabic term that means "lawful", and it refers to a way of life that adheres to Islamic law. Any food or drink can be halal if it meets Muslim standards. For example, meat products cannot contain pork, and food producers must clean their machines with alcohol-free detergents.
  
  Halal business booming
  
  Experts say that halal food is the fastest growing food sectors in the world. It already accounts for 17 percent of the global food market, according to the World Halal Forum.
  
  In 2010, halal food is expected to generate sales of more than 45 billion euros in Europe alone. With the Muslim population in the EU growing due to immigration and higher birth rates, businesses are starting to realize the untapped potential of the halal food market.
  
  
  In France and Britain, which have the EU's largest Muslim populations, this trend has been gaining momentum for some time. British supermarket chains, Sainsbury's and Tesco sell halal products, as does the French chain Casino. Even the American fast-food joint Kentucky Fried Chicken serves food that abides by Islamic standards at many of its European restaurants.
  
  Mustafa Balikci is the head of Anatolia Foods, a company that specializes in halal products. Its headquarters is located in the small German town of Rheinbreitbach, where he grew up, but the company is now represented in nine countries.
  
  "The idea was to establish a market for halal products in Europe, because it's very difficult for Muslims in Europe to find halal products" Balikci says. "Even if a product's label says it's halal, Muslims have to be very careful because it may not be accurate. It's sometimes hard to know if something is really halal or not."
  
  Germany still lagging in halal business
  
  Mustafa Balikci says Germany has been slow to stock its store shelves with halal products compared to other European countries, due in part to the controversial process by which meat is certified "halal". Muslims broadly agree that the animal must be alive and devoid of any drugs when it is slaughtered - something that goes against German law, which requires abattoirs to use sedatives. As a result, most halal food producers in Germany have to import their meat.
  
  Despite the legal barriers, however, Hatice Balikci - who's also part of the family halal food business - says she is not worried. In fact, she believes that Germany's four million Muslims mean an expansion of the halal food market is inevitable.
  
  Muslims order halal burgers at a Burger King in FranceBildunterschrift: Großansicht des Bildes mit der Bildunterschrift: Fast food chains in Europe are increasingly serving up halal products to cater to Muslims"I think the business will go on and it's a big trend," she says. "We saw how many people came to the halal stands at the Anuga Food Trade Fair to get information about it."
  
  "They were not all Muslims - there were people from all over the world, from Pakistanis to Chinese people. So I think it's a big market place."
  
  
  
  Author: Vanessa Johnston
  Editor: Sam Edmonds
  
  Source: http://www.dw-world.de/dw/article/0,,4838292,00.html?maca=en...
  
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