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EU economic, business indicators improve again

Wed, Sep 29 2010 16:51 CET

byThe Sofia Echo staff

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EU economic, business indicators improve again

Photo: Reuters

In September 2010, the Economic Sentiment Indicator (ESI) continued to improve in both the EU and the euro area, the European Commission said on September 29 2010.

The indicator increased only marginally, by 0.3 of a point in the EU and, more significantly, by 0.9 of a point in the euro area, to 103.4 and 103.2 respectively.

In both the EU and the euro area the ESI stands above its long-term average.

In September, the Business Climate Indicator (BCI) for the euro area registered a modest gain.

The level of the indicator suggests that economic activity in industry will continue to recover in the coming months.

The indicator now stands at its highest level since December 2007, the EC said.

Managers in industry were more optimistic about their production and employment expectations as well as the level of their order books; in particular they were upbeat about their export order books.

Managers' assessment of production observed in recent months and of their stocks of finished products remained broadly unchanged.

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Bulgarian business climate unchanged in December 2010 – statistical institute

Slight improvement in economic conditions in industry and services sectors, but a decline in the construction industry and retail trade, according to the National Statistical Institute.

Economic sentiment in EU, euro zone improves further

In August, the Business Climate Indicator for the euro area remained broadly unchanged after the jump observed in July, while after a surge in July, the Economic Sentiment Indicator continued to improve in both the EU and the euro area, albeit at a slower pace.

EU, euro zone business and economic sentiment indicators improve

July 2010 saw the euro area Business Climate Indicator improve after a ‘pause’ in June, while the Economic Sentiment Indicator went up in the EU and the euro zone, strongly influenced by markedly positive readings in Germany.

June 2010 euro zone business, economic sentiment indicators unchanged

The current level of the euro zone business climate indicator suggests that the recovery of economic activity in industry will continue in the coming months, although it may lose momentum, the European Commission says.

Euro zone business sentiment improves slightly

May 2010 saw the business climate indicator for the 16-member euro area improve slightly, but it remains well below pre-crisis levels, Eurostat says. The EU stats office also issued a flash estimate that euro zone annual inflation was 1.6 per cent in May.

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Appointments

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Employment Agency

Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.

Uniqa

Uniqa

Gloria Dimitrova has been appointed executive director and member of the managing board at Uniqa Life Insurance Bulgaria. Dimitrova began her career in 1998 at the insurance supervision directorate, but moved to the private sector and worked for professional services and insurance brokerage firm Marsh&McLennan and US insurer AIG, both in Bulgaria and the Middle East. She joined Uniqa as regional director for Sofia in 2010. Dimitrova has a degree in economics from the University for National and World Economy in Sofia and a master's degree in insurance from the Business Academy in Svishtov.

Kamenitza

Kamenitza

Yassen Lyubenov is the new head of marketing at Bulgarian beer brewer Kamenitza. Lyubenov has 12 years of experience in marketing in the fast-moving consumer goods sector and has started his career as assistant brand manager at Kraft Foods Bulgaria. He later became brand manager at Wrigley Bulgaria, with responsibilities for Bulgaria and Macedonia. Prior to joining Kamenitza, he was senior marketing manager at Wrigley Russia, where he was in charge of brand expansion into Ukraine, Belarus, Central Asia and the Caucasus. Lyubenov has a bachelor's degree in international business administration from the University of Lincoln, UK.

Beiersdorf

Beiersdorf

Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.

Hewlett-Packard

Hewlett-Packard

Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.

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