Aung Tun Thet, a member of President Thein Sein's National Economic and Social Advisory Council, said that Myanmar could be the next Austria.

"Austria smack in the middle of Europe, being the sort of corridor to the East, West, South and North. I think we can do the same thing, that we can be the next Austria, linking India and China", he said.

It seems that grim situation prevailing over the housing market in the UK has been getting better. It has been said so as UK house prices have witnessed a humble rise of 0.4%.

Chinese leaders have been seen succeeding in generating a deeper gap between the country of Germany and the remaining European Unions. The gap has been successfully generated along with skillfully differentiating between the dangers of a trade war and the claims of hiking purchases of imports.

European Union governments have been unable to achieve a consensus on easing an arms embargo on Syria, Austrian Foreign Minister Michael Spindelegger said on Monday. Lifting the embargo on Syria would help rebels who are fighting against President Bashar al-Assad's regime.

According to reports, the Abu Dhabi Investment Authority (ADIA) has reduced the minimum asset allocation to Europe. It has been affirmed that the figures for the same have come down top 20% from 25%.

Rise in unemployment and poverty in certain areas of Europe can be quite problematic, said Bekele Geleta, Secretary-General of the International Federation of Red Cross and Red Crescent Societies (IFRC).

As per the suggestions of experts, the predictions that the gas prices will be lowered this summer season as compared to last three years in US might be true but it will not make any kind of difference as it will not get translated to savings on the occasion of Memorial Day weekend.

Austrian Foreign Minister Michael Spindelegger suggested European Union to not lift arms embargo on Syria. During a Friday interview with The Associated Press in Vienna, Spindelegger said that there is a need to figure out solutions through political processes to ensure peace in Syria.