Finance & Economics | WPN World People News

The European Commission has opened an in-depth investigation to assess whether the proposed acquisition of rotating equipment manufacturer Dresser-Rand of the US by Siemens of Germany is in line with the EU Merger Regulation. Both companies supply turbo compressors as well as the engines which drive these compressors ("drivers").The combination of a turbo compressor with a driver is called a turbo compressor train. For turbo compressor trains driven by aero-derivative gas turbines, the Commission has concerns that the proposed transaction may reduce competition for both components, namely turbo compressors and drivers as well as for turbo compressor trains. Furthermore, the Commission's preliminary investigation also found possible competition concerns in the market for small steam turbines of less than 5 MW.The opening of an in-depth investigation does not prejudge the outcome of the investigation. The Commission now has 90 working days, until 30 June 2015, to take a decision.

The Ebola epidemic in parts of West Africa is a humanitarian catastrophe that has drawn attention of the international community to the need of addressing the rapid spread of life threatening infectious diseases that cause substantial domestic disruption and cross international borders.

The World Bank’s Board of Executive Directors today approved a US$195 million IBRD loan for the Pap-Angren Railway Project in Uzbekistan.

A revision of the EU's multiannual financial framework (MFF) for 2014-2020 was agreed by the Council's Permanent Representatives Committee on 13 February 2015. This will allow for the preservation of commitments needed to support a number of EU programmes which could not be adopted in 2014. The agreement will also make it possible to adopt and implement the outstanding programmes. These programmes will encourage investments to stimulate growth and create jobs. The agreement keeps the total expenditure ceilings unchanged and involves no additional money.

Spain has completed the requirements for adherence to the International Monetary Fund’s Special Data Dissemination Standard (SDDS) Plus—the highest tier of the Data Standards Initiatives. Spain’s SDDS Plus data are now posted on the Dissemination Standards Bulletin Board.

UK Business Secretary Vince Cable and Business and Enterprise Minister Matthew Hancock announced on February 10 that better enforcement of regulation is saving business more than £40 million every year.

Lazar Lazarov, Chairman of the Management Board of the Roads Infrastructure Agency, and World Bank Country Manager for Bulgaria Tony Thompson signing the agreement on the extension of the advisory service.

UK Enterprise Minister Matthew Hancock announced £4.36 million of joint government and industry funding to improve skills for the NHS’s 600,000 support workers on February 13.