Bailout policies was the hot topic for Friday’s meeting in which German Chancellor Angela Merkel has asked Christian Social Union (CSU) to support their European fellows who have been facing the wrath of European debt.

Angela has asked for leniency in order to decide support for European peers as the CSU has decided to stake strict action against bailout countries and in failure to which they warned of serious dispute with the country and initiation of which according to them would be witnessed by country’s government.

In a recent ray of joy for North Country, it has been revealed that there shall be the launch of a new Biomass plant in the vicinity. This would mean at least 150more jobs for the people of the vicinity. This has come as good news for the residents, as they can look forward to effective utilization of resources and earn money.

It was revealed that this project shall start soon. It is going to be a huge venture with a sum of $275 million involved. These developments were revealed by the Mayor Mr. Paul Grenier.

While the nations across the world are waiting for the European debt crisis to come to an end, a recent report of rift between Germany and France has put a question mark over the future of cash- crunched Greece.

Though France has refused to confirm any clash of interest over the utilization of euro zone's 440 billion rescue fund, it has been indicated by a senior EU diplomat that there is a simmering disagreement over the same.

Companies are working hard to win the bid on October 1 of transporting gas from the Caspian region to Europe. One such major effort has been seen from Germany’s Bayerngas who according to some reports, is planning to join the Nabucco gas pipeline consortium in order to boost the project’s competitiveness in the bid.

Renowned German firm Mahr deals with manufacturing of various measuring instruments including for the auto, engineering as well as medical sectors. Its 55-year old Chairman Stephan Gais has credited to grab new orders of around 18 million Euros during August.

While briefing the company achievements, he had notified that his great-great-grandfather Carl Mahr founded the company in 1861, and he also claimed to take the revenues close to 200 million euro mark for the first time, most probably around the next year, a significantly high as compared to previous figures.

Nokia, one of the world's leading mobile phone makers, on Thursday revealed its plans of cutting approximately 3,500 jobs in Romania, Germany and the United States, and that too by the end of 2012.

"Nokia plans to close its manufacturing facilities in Cluj, Romania, by the end of 2011 ... and plans to close its (locations and commerce development) operations in Bonn, Germany and Malvern, US, by the end of next year", the Finnish company said in a statement.

A month earlier, Germany had 7% jobless rate but thanks to the country's export-oriented economy which is still demanding workers despite slow growth, the jobless rate dropped to 6.6%in September.

In context to same, Germany's state labor agency said on Thursday that the fall in jobless rates in the country has astonished many analysts also because they never expected such big fall in the number. It also added that the month has cited a fall of 149,000 people from the jobless list to 2.796 million.

Following worries over the European debt crisis, shares of oil fell strikingly low to 1.7%. As the world economy is already crying over financial crisis, many countries have reduced their consumption of oil with the hope of reducing the expenditure.