Renault plant for Algeria after 33-year absence

Published on Dec 19, 2012

http://www.euronews.com/ French President Francois Hollande started his two-day state visit to Algeria with a big commercial announcement in the form of plans by Renault to build a factory in the country.

His Algerian counterpart Abdelaziz Bouteflika was also on hand for the announcement, which marks Renault's return to production in the former French colony after a break of 33 years.

Hollande called it a "good project, a good project for Algeria, a good project for Renault and a good project for France. The cars being built here are destined for the Algerian market, but not just Algeria, for other markets too". He stressed it was "not a plant moving from France to Algeria".

The facility at Oran in north west Algeria will start production in 2014, making cars just for the region, unlike the much bigger plant Renault opened in Tangier, Morocco, in February which produces vehicles for export around the Mediterranean.

Renault's push to develop overseas sales has helped to protect it from the worst of the slump in Europe.

Car registrations jumped 57 percent in the first ten months of this year in Algeria. Renault has a 27 percent share of the market.

Solid growth seen in Asia

Published on Dec 19, 2012

http://www.euronews.com/ The World Bank has upped its forecasts for next year for China and the developing countries of East Asia - Thailand, the Philippines, Indonesia and Burma.

The Bank's experts now expect China's economy to grow by 8.4 percent, up from an earlier projection of 8.1 percent.

They also said the region remains resilient despite the weak performance of the world economy, but they warned of risks such as a sharp fall in investment growth in China which could shake global confidence.

A slowdown in China's growth in recent months has prompted policymakers to announce various stimulus measures.

These include two interest rate cuts since June, and the approval of infrastructure projects worth more than 113 billion euros.

China's central bank, the People's Bank of China, has also lowered the amount of money that banks need to keep in reserve three times in the past few months in an attempt to boost lending.

"The impact of easing credit conditions and public investment in infrastructure is beginning to show," the bank said in its report.

"The impact is expected to continue to be felt into 2013, as the authorities have accelerated the approval of large projects."

More astronauts leave for International Space Station

Published on Dec 19, 2012

http://www.euronews.com/ Three astronauts set off for the International Space Station on a Soyuz spacecraft that lifted off from Russia's Baikonur cosmodrome in Kazakhstan on Wednesday afternoon.

A Russian, an American and a Canadian will spend the next three months at the space station - where 15 countries carry out research.