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Germany's growth rate set to slow

Germany's economic growth rate is set to slow to 0.3 per cent in the final quarter of this year from 0.6 per cent in the July- September period, according to the DIW economic research institute.

"While most service sectors . . . could still grow with slightly more strength, a significant growth dip looms for industry and the construction sector in the fourth quarter," the DIW said in a statement. "On the basis of the continued favourable overall economic environment, the weak growth in the final quarter by no means implies a stop to the current recovery phase."

Buoyant private consumption, exports and investment powered growth in the third quarter, the seventh consecutive quarter of expansion in the German economy.

On Friday, official figures showed Germany's trade surplus surged to a record high in October, led by strong demand from outside the European Union, but weak industrial output data raised questions about how long the economy's upswing will last. - (Reuters)

Adwalker to make 'Apprentice' debut

Irish-based media firm Adwalker's interactive advertising platform will make its US network television debut on NBC's The Apprentice on January 7th.

Adwalker's interactive media platform is an advertising and media display which is worn by its operators as a compact body pack. On the show, the Apprentice teams are challenged to use the Adwalker to sell passes and discount season tickets to consumers at Universal Studios in Hollywood.

Teeling increases Pan Andean stake

Pan Andean chairman John Teeling has spent £391,703 (€578,570 ) increasing his stake in the company that produces oil and gas in the US and Bolivia.

In a statement to the stock exchange, Pan Andean said Mr Teeling had bought 3.3 million shares at 11.75 pence (17.40 cents) each, bringing his holding in the company to 5.6 million, equal to 4.7 per cent of the total issued share capital.

Jobless fall in OECD economies

Unemployment among the world's most developed economies fell in October, but unemployment in Europe remains significantly higher than elsewhere.

According to the Organisation for Economic Co-operation and Development's (OECD) standardised rate measure, unemployment in the OECD area fell to 5.9 per cent, down 0.1 percentage point on September and 0.6 percentage point lower than a year earlier.

At 7.7 per cent, the EU's unemployment rate in October remained significantly higher than the OECD average, and compared with a rate of 4.5 per cent for the US. Considerable differences in unemployment persist within the EU, with Germany's rate at 8.2 per cent compared with a rate of 5.9 per cent in Britain.

Central Bank warns on forged notes

Counterfeiters have greater opportunity to pass off fake banknotes to unsuspecting consumers at this time of year, the Central Bank has warned.

As the use of cash hits its peak in the run-up to Christmas, the Central Bank is urging shoppers to be extra vigilant. "Anyone who suspects they have a counterfeit banknote should pass it over to their local gardaí," a spokesman said.

Euro banknotes contain security features that are hard to counterfeit, making it relatively easy to spot fake notes, the spokesman added.