U.S.-Europe News. Europe Biofuel Group threatens Action on U. S. Subsidy

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1 October 23, 2007 U.S.-Europe News Europe Biofuel Group threatens Action on U. S. Subsidy European biodiesel makers said on Tuesday they may take a legal action against what they see as unfair subsidies for U.S. biofuel which threaten their business. Biodiesel makers in many European Union countries have come under pressure from growing sales of cheap U.S. biodiesel made with the help of subsidies, the industry association European Biodiesel Board (EBB) said in a statement. Price competition has eroded margins for EU producers, forcing some out of business and would lead to stagnation or even decline in EU biodiesel output this year, the EBB said. "This is why, unless the situation is solved very shortly by the U.S. legislature, the EU biodiesel industry will initiate a comprehensive legal action against this unfair trade practice, in the form of a joint anti-dumping and anti-subsidy complaint, possibly supported by a WTO complaint," EBB said. Earlier this year, the EBB complained to the European Commission about the practice which allows U.S producers to cash in twice for subsidies -- at home and in the EU. Under the U.S legislation, biodiesel can be subsidized up to $264 per cubic meter, or about 200 euros per tonne, by adding a "drop" of mineral diesel to biodiesel, EBB said. U.S. producers can claim the maximum subsidy for a B99.9 blend which contains 99.9 percent biodiesel and 0.1 percent fossil diesel. Such a blend can then be exported to Europe where it is eligible for European subsidy schemes. EBB said that in most cases B99 blends are sold in the European market as "pure biodiesel" and at a substantial discount, in some cases at a lower price than the one paid by the EU producers for raw materials to make biodiesel. G7 Implores China to Allow Stronger Yuan China should allow its currency to rise more quickly in order to help Europe and the US restore some of their industrial competitiveness and limit growing trade deficits, said finance ministers from the world's seven leading industrialized nations. The strength of the euro against the dollar and the yuan, whose evolution remains heavily linked to the US currency, represents a source of concern for a number of European countries, including France, because it makes their exports more costly and hurts their economic growth. Ahead of the meeting, European business leaders had called for action to halt the dollar's slide, saying that the euro exchange rate had attained its "pain threshold" for companies. The G7 finance ministers said a more rapid appreciation of the yuan would make Chinese goods less competitive and help curb the country's international trade surplus, while at the same time limit inflationary pressures in the Asian economy thanks to cheaper imports. Other than this, they said that the fundamentals of their economies remained strong, although they acknowledged that high oil prices and the recent financial turmoil sparked by the subprime mortgage crisis in the US over the summer were likely to cause a slowdown in global growth. They also agreed to examine the underlying causes of the financial turmoil, in order to identify problem areas as well as possible remedies, notably as regards risk management, valuation of complex financial instruments and the role of credit rating agencies, which have been strongly criticized for their role in the crisis. EU and Microsoft Reach Antitrust Deal

2 Microsoft finally admitted defeat in its three-year battle with the European Commission on Monday, as the US software giant agreed to comply with the regulator s landmark finding that it was abusing its dominance of the market. Under the deal reached between Ms Kroes, the competition commissioner, and Steve Ballmer, the chief executive of Microsoft, early on Monday morning, the company will make it much easier for rivals to use its technology to develop their own programmes. Microsoft also said it would not appeal the decisive September ruling by the European Court of First Instance, which upheld the Commission s finding that Microsoft had broken EU competition rules. It ends three years of resistance that has cost 777.5m in fines. Of three agreements, most significant is Microsoft s commitment to allow open source software developers access to inter-operability information. Microsoft currently has 95 per cent of the market share in desktop publishing and more than 70 per cent in work group server operating systems. Second, companies accessing this information will only have to pay a 10,000 one-off fee rather than a percentage of revenues. Third, the royalties for a worldwide license, including patents, will be reduced from 5.95 per cent to 0.4 per cent. That is far less than the 7 per cent of the royalty originally claimed the Commissioner said. The agreement has resolved the biggest outstanding issue between the Commission and Microsoft, relating to how much they can charge their rivals. U.S. Chamber Events & Highlights The U.S. Chamber of Commerce's Institute for Legal Reform and the National Chamber Foundation present the 8th Annual Legal Reform Summit. Join the nation's leading legal reform advocates on Wednesday, October 24, at the U.S. Chamber to take an in-depth look at the current legal environment. The summit will feature presentations on the Institute for Legal Reform's latest research on state attorney general practices, the export of U.S.-style class action lawsuits to Europe, and other emerging trends. On October 24, Policy Advisor for Europe and Eurasia, Kristal Alley, will speak at an OSCE Conference on Prospects for the Development of trans-asian and Eurasian Transit Transportation Until the Year 2015 in Dushanbe, Tajikistan. The Eurasia Business Platform will hold its First Annual Conference on "Growth Imperatives and Regional Responsibilities" on December 3. American Chambers of Commerce Events & Activities There are 43 American Chambers of Commerce (AmChams) in Europe and Eurasia, which are affiliated with the U.S. Chamber of Commerce. Armenia On October 31, AmCham Armenia will host a membership meeting with Mr. Aristomene Varoudakis, the World Bank Resident Representative in Armenia, who will provide remarks on the economic situation in Armenia. On November 12, AmCham Armenia will host a membership meeting with Mr. Vartan Oskanian, Minister of Foreign Affairs of the Republic of Armenia, who will discuss recent foreign policy issues with AmCham membership. On November 23, AmCham Armenia will host a membership meeting with Mr. Davit Harutyunyan, Chairman of the Standing Committee on State and Legal Affairs of the National Assembly of the Republic Armenia, who will discuss issues related to judicial

3 reforms in Armenia and possible AmCham participation in drafting laws and regulations that would impact the investment and business climate in Armenia for both the international and local businesses. On November 30, AmCham Armenia will host a membership meeting with Mr. Avet Adonts, Chairman of the Standing Committee on European Integration of the National Assembly of the Republic Armenia, who will discuss issues related to European integration and its effects on Armenia s international relations, the current status of harmonization of the Republic of Armenia laws with the European legislation and other related issues. On December 15, AmCham Armenia will host its Annual Christmas Gala Dinner. Austria On November 7, AmCham Austria will host a Business Breakfast with Bertrand Dussauge, Marketing Director Lexis Nexis Intelligence Solutions, who will speak on Hear the grass growing! On November 21, AmCham Austria will host a Thanksgiving Reception. Belgium On October 23, AmCham Belgium will host a conference on corporate governance, IT systems security, tax/financial records in shared service centers across Europe. On November 6, AmCham Belgium will host an exclusive lunch for patron members only where they will give AmCham Belgium s CEOs a preview of the 2007/2008 Foreign Investors Agenda (FIA) and an opportunity to discuss its recommendations with US Ambassador Sam Fox. On November 8, join AmCham Belgium for the last Business After Hours cocktail reception of On November 22, AmCham Belgium will host a CEO event for Patron and Sustaining members on Ways to improve the net impact of senior executives compensation package". On November 27, AmCham Belgium will host a lunch with Minister President of Wallonia on Innovation in Wallonia. On December 4, AmCham Belgium will be holding a comparative EU/US innovation conference supported by the US Embassy and AmCham EU. This event will examine how the US and the EU compare in terms of encouraging innovation, and determine best practices to promote innovation and research in the EU. Bulgaria On November 13, AmCham Bulgaria invites you for charity fundraising through a silent auction at the Thanksgiving Community Dinner. On November 14, AmCham Bulgaria and EU Affairs Committee will be holding a meeting about EU India Relations and New Opportunities for Bulgaria? On December 11 and 12, AmCham Bulgaria will be participating in The Economist Conference: Seventh Business Roundtable with the Government of Bulgaria Making EU membership work for businesses. On December 11, AmCham Bulgaria will host a Christmas Party. Croatia On November 29, AmCham Croatia will host the Annual General Assembly. Denmark On October 24, AmCham Denmark will partner with the Confederation of Danish Industries to host a Business Breakfast featuring Daniel W. Christman, Senior Vice President for International Affairs at the United States Chamber of Commerce. Mr.

4 Christman will speak about strengthening the ties of Trans-Atlantic Business and will shed light on the US's current political climate and the 2008 presidential election. On November 14, AmCham Denmark invites members and colleagues to join for a Power Lunch with International Herald Tribune Executive Editor Michael Oreskes, who will talk about his recent publication, "The Genius of America: How the Constitution Saved Our Country--and Why it Can Again". Further, Mr. Oreskes will discuss the controversial upcoming election. Finland On October 29, the CEO of International Youth Foundation William S. Reese will visit with members of AmCham Finland s Corporate Social Responsibility Committee for a working luncheon. On November 14, The Barber of Seville will entertain the AmCham Finland community at the Finnish National Opera. On November 29. AmCham Finland will host the Thanksgiving Dinner. Kosovo On November 1, AmCham Kosovo will publish the third edition of Kosovo Business Journal, which serves as a newsletter for AmCham. The Journal will include a wide range of articles concerning business issues and activities of AmCham Kosovo within last month. On November 8, AmCham Kosovo with cooperation of USAID will organize already the fourth Career Fair. Macedonia On October 30, AmCham Macedonia will hold a Business Forum on Real Estate Investment in Macedonia: Past, Present, and Future. Norway On November 22, AmCham Norway will host a Thanksgiving Charity Evening Event. Poland On October 25, AmCham Poland will hold a meeting about CSR best practices. Key guest speakers will be Wojciech Arszewski from UPS Polska and a representative from the Federation of Polish Food Banks. On October 25, AmCham Poland will organize an Inaugural Meeting of SME Committee. On October 26, AmCham Poland together with IPR Committee will hold a meeting to summarize the main issues from September IPR workshop and also discuss the status of the competition for artwork and its IPR protection. On October 30, AmCham Poland s Health Committee will hold a meeting to summarize the last meeting with Jerzy Miller and discuss plan for the future activities. Slovakia

5 On October 24, AmCham Slovakia in cooperation with its member company KPMG will host an AmCham Halloween Business Cocktail. On October 25, AmCham Slovakia will host a Business Breakfast event on Renewable Energy in Slovakia, with Peter Ziga, State Secretary of the Ministry of Economy of the Slovak Republic. On October 30, AmCham Slovakia will hold its Regional HR Conference. The topic of this year s conference is HR and the Power of the Company Brand. Sweden On November 9, AmCham Sweden will celebrate 15th Anniversary Jubilee followed by Gala Dinner. On November 12, AmCham Sweden will hold a Young Professional Event U.S Presidential Election. On November 13, AmCham Sweden will host a Business Breakfast with Göran Persson, Senior Advisor in JKL Group and former Prime Minister of Sweden, about the topic The Business community versus Politicians. November 14, AmCham Sweden will host a Business Breakfast with Nyamko Sabuni, Minister for Integration and Gender Equality, and Ivan Daza, Managing Director, Blatteförmedlingen. On November 17, AmCham Sweden will celebrate Thanksgiving with American Club. On December 11, AmCham Sweden will host Christmas Party. Turkey On October 24, TABA/AMCHAM s Ankara Branch is hosting a dinner-reception in honor of U.S. Ambassador Mr. Ross Wilson. Ukraine On October 23, AmCham Ukraine will hold Chamber s Angricultural Committee Meeting. On October 23, AmCham Ukraine will hold Chamber s IPR Committee Meeting. On October 24, AmCham Ukraine will hold its Tax Committee Meeting. On October 25, AmCham Ukraine will hold Chamber s Business Management Education & Training Committee Meeting. On October 29, AmCham Ukraine will hold its Telecom Committee Meeting. On November 1, AmCham Ukraine will hold its HR Committee Meeting. AmCham Albania AmCham Finland AmCham Latvia AmCham Slovak Republic AmCham Armenia AmCham France AmCham Lithuania AmCham Slovenia

6 AmCham Austria AmCham Georgia AmCham Luxembourg AmCham Spain AmCham Azerbaijan AmCham Germany AmCham Macedonia AmCham Sweden AmCham Belgium AmCham Greece AmCham The Netherlands AmCham Switzerland AmCham Bulgaria AmCham Hungary AmCham Norway American Business Forum in Turkey AmCham Croatia AmCham Ireland AmCham Poland Turkey American Business Association AmCham Cyprus AmCham Italy AmCham Portugal AmCham Ukraine AmCham AmCham Kazakhstan AmCham Romania British American Business AmCham Denmark AmCham Kosovo AmCham Russia AmCham Uzbekistan AmCham EU AmCham Kyrgyz Republic AmCham Serbia and Montenegro