Daily Archives: September 8, 2010

Government wants to reduce greenhouse gas emissions by 2050 by 80 %

2010-09-07_Gletscher_ddp MUNICH (Dow Jones) – The Federal Government has the lines of its energy plan outlines the way for their climate targets. It was established next to the life extension of nuclear power plants , a reduction in greenhouse gas emissions by at least 80 % by 2050 compared to 1990. ( Reuters photo 🙂

This Jürgen Becker, Secretary, Federal Ministry of Environment, on Tuesday in Munich, said at an energy conference .
On the goal of a reduction of 40 % recorded in the 2020 energy plan. For this purpose the intermediate steps of a reduction by 55 % by 2030 and by 70 % was established by 2040. This will be achieved through the development of renewable energies.
In 2020, 18 % of energy consumption will be covered by it , 2030 , 30 % sought , 2040 , the proportion is 45 % in 2050 and then 60 %, as Becker said. The electricity will come at the end of the period to 80 % from renewable energy sources. In 2020 there will be 35%. Last year there were over 16 %.
The Federal Government shall , according to Becker primarily on wind energy projects at sea. By 2030, create a so-called offshore capacity of 25 gigawatts, equivalent to about 20 nuclear power plants. The estimates of the policy investment of 75 billion EUR will be pushed through a loan program of the Kreditanstalt für Wiederaufbau ( KfW) of EUR 5 billion in 2011 for the first ten projects.
lays great stress on the energy savings. By 2020, primary energy consumption compared to 2008 by 20 % and by 2050 reduce by 50 %. The power consumption will be 10% lower in 2020 and 2050 by 25 % below the level of 2008. This was the doubling of the rate of remediation at the building stock to 2% per year is needed, it is called in the draft.
To increase energy efficiency , a fund with EUR 500 million per year will be equipped with which donated including education and Handlungsemfehlungen should be given. In addition to the climate protection initiative of the Ministry of Environment, through the example, the installation of small combined heat and power plants will be promoted , increased by EUR 200 million per year.
Besides the importance of renewable energies and nuclear energy provides the bridge function of the concept and the construction of flexible gas – and coal -fired power plants before . The latter wants the Federal Government encourage investment in new facilities if they are suitable for the capture and storage of carbon dioxide. Power producers with a share of German production capacity of more than 5 % have to switch off for old installations. This condition is aimed at the four major power companies E. ON , RWE, EnBW and Vattenfall , which together own more than 80 % of capacity.

Website: www.bmu.de
– By Martin Rapp , Dow Jones Newswires
   +49 (0) 211 13 87 214; martin.rapp @ dowjones.com

DJG / mmr / mle / dok

Decline in German orders "no slowdown "

Copy of 2010-09-07_Tapeleger_ddp

BERLIN / FRANKFURT (Dow Jones) – The German orders fell unexpectedly in July , also fell , the decline from very strong. As the Federal Ministry of Economics ( BMWi ) on Tuesday announced on the basis of preliminary data , orders were received from the previous month price and seasonally adjusted fell by 2.2% over the previous month. ( Reuters photo 🙂

Some economists interpret the decline mainly to a strong month as a correction value, the slowing of the upward trend in the industry , and not hinting at the start of a downturn.
Economists polled by Dow Jones Newswires had expected in July prior to an increase of 0.4 %. The June result was revised upwards to a value of plus 3.6% is even better than initially reported , with an increase of 3.2 %. The development in June was mainly supported by large bulk orders in the range of other transport equipment , which mostly ships , aircraft and rail vehicles .
"In the current month of July was the overall result by significantly below-average major contracts subdued , "write the BMWi experts. You see in the July data , therefore, no cause for alarm. The current strong demand fluctuations are due primarily to the development of large orders in the capital goods sectors.
" The trend is the demand for industrial products against further upward , "reads from the BMWi. However, it is acknowledged that , growth in orders for the " exceptionally strong order momentum in the spring of this year, " continued to weaken.
A weak but make no slowdown in July , said Ralph Solveen of Commerzbank. The Economist pointed out that the decline in orders " only the result of a decrease in size of highly volatile ‘ other transport equipment ‘ was’ . "Moreover, the relatively early location of the summer holidays the July values are somewhat clouded. "To change the current upward trend in numbers not on the German industry, although this is likely to flatten in the coming months. " For August Solveen expects a sharp rise in orders.
UniCredit economist Alexander Koch leads the sharp decline in orders directly back to unusually strong orders for Airbus aircraft in the previous month. He also interpreted as a sign of weakening global demand. "Despite the recent setback has mainly technical reasons and the general trend in the industry demand is still intact , so show the hard facts but a significant slowdown of the underlying dynamics. " The not unusual strong recovery in global demand after the economic crisis is preserved, "said Koch.
For Postbank economist Heinrich Bayer has been a decline in orders for the " very high " month value is not surprising. " Specifically, the July data are very mixed from "analyzed Bayer and stressed that domestic orders had yielded only 0.3 %. The decline in orders from foreign countries speak for a classic rebound , said Bayer. "Overall, the data show , despite the strong decline in the previous month compared not indicate that the recovery of German industry in the short term breaks . But let us to conclude that the dynamics has reached its peak mid-year. "
In July, especially in less orders came from abroad, of receipt of order decreased from the previous month by 3.7 %. Domestic orders were only received by 0.3 %. Within the main industrial producers of capital goods recorded a decline of 5.5 %, the largest declines. New orders for intermediate goods producers increased by 2.5 %. Manufacturers of consumer goods suffered a job loss of 1.0%.
In a two month in June / July compared to April / May , the order volume increased in industry , seasonally adjusted by 2.4 %. Of decisive importance was the rise in foreign orders rose by 4.7 % while new orders decreased by 0.3 % from the domestic market . The producers of capital goods have registered with a orders rise by 4.2 %, the strongest increase in orders . In the intermediate goods producers , the ordering activity changed little with an increase of 0.1% . The order volume of consumer goods rose by 1.7 %.
exceeded their previous year’s industrial orders in June / July calendar by 21.2 %. The orders from the domestic market were higher by 14.6% , foreign orders by 27.0 % over the previous year. When the producers of capital goods were received by 23.6 % more orders. The producers of intermediate goods , sales were 20.5 % and that of manufacturers of consumer goods at 7.9 % over the previous year in June / July.

Website: www.bmwi.de
– By Beate Preuschoff and Mark Lempp , Dow Jones Newswires
   +49 (0)69 29725 300, konjunktur.de @ dowjones.com

DJG / bep / mle / kth / dok

HSBC Chairman Green in 2011 British trade minister

LONDON (Dow Jones ) – The chairman of British bank HSBC , Stephen Green will be the new British Minister for Trade.

His responsibilities at the head of the board of the bank he wants to give up this year. In January 2011 he will take up his government post , London’s HSBC Holdings plc confirmed on Tuesday relevant press reports. Already some months ago the search was initiated for a successor .
With the change in the policy differs from Green and from the supervisory board at the German chemical company BASF. Green will resign in December , said BASF SE on Tuesday. His successor on the supervisory body is determined at a later date.
Green was also previously Chairman of the British Bankers ‘Association ( BBA ), the interests of the banks in the United Kingdom. nominated as his successor , the association with immediate effect, Marcus Agius , chairman of the Barclays group.
ends with greens change to Department of Commerce in Great Britain have a prolonged search for a new departmental ministers. The government had initially not been able to gain a prominent manager for the task. David Cameron said Prime Minister now , Green would seek the country more attractive to foreign investment and boost exports .

Web sites:
www.hsbc.com
www.basf.com
– By Ainsley Thomson, Dow Jones Newswires ;
+49 ( 0 ) 69 29 725 104 unternehmen.de @ dowjones.com
DJG / DJN / jhe / rio / ISJ

FAO : Food crisis in 2008 does not repeat

Taenzerbangladesch_Quelle_OBS_Netz LONDON (Dow Jones) – According to the Food and Agriculture Organization of the United Nations ( FAO ) will not reach the heights the prices of food , where they have moved during the crisis of 2007/08. (Photo : obs / NETWORK )

A representative of the organization was so contrary to speculation that the recently convened meeting was convened by the member countries due to a looming crisis. As reported in the Intergovernmental Group of FAO to

Cereal and rice on the market due to rising food prices 24th September meeting in Rome .

The meeting is not an emergency meeting , said Abdolreza Abbassian , secretary of the FAO Intergovernmental Group on Grain Trade , told Dow Jones Newswires. We see the current problems to be non- comparable to those we had to overcome two years ago. It go at that meeting about seeing what they have done the country since the food crisis in 2007/08 and what they can do yet .

The recent unrest in Mozambique because of higher food prices and rumors of unrest in other countries, including Egypt, are more likely to evaluate as local protests ahead of elections. Given the estimated wheat stocks of around 184 million tonnes of the current circumstances are not comparable to the crisis of two years ago. This was the evidence that the current price rally was overdone on the wheat market , said Abbassian .

DJG / DJN / sru / pio / dok

LME lists new warehouse in New Orleans

LONDON (Dow Jones) – The London Metal Exchange ( LME ) has listed in New Orleans , USA , a storehouse of Pacorini Metals for their steel ingots contract. As the Metal Exchange announced , also a storehouse of Metaal Transport BV in Rotterdam and a storehouse of F. Ili Bartoli been deleted in the Italian Leghorn from the lists of the LME.

DJG / DJN / sae / dok