EU

This week an ecommerce advocate made a forecast saying that proposed changes to European rules on product returns could cost online retailers 10 billion euros ($14 billion) a year which would prevent further growth and impose higher prices on consumers.

IMRG says that the cost of draft amendments to the European Union's (EU) Consumer Rights Directive, voted through last week, equated to 4 percent of the estimated value of Europe's e-commerce industry in 2012.

The European Union was found to be wrong imposing duties on three types of electronics products from the United States and other countries according to a ruling by the World Trade Organization, as reported by trade sources.

Monday in Sydney, bullion flat after early selling on low inflation signals gave way to fresh concerns over Hungary's ability to pay its debts prompted safe-haven buying.

Spot gold was almost steady at 3:30 GMT at $1,193.05 an ounce versus Friday's nominal close after prices ended last week almost 2% lower.

As French Economy Minister Christine Lagard stated last week, speaking about the prospects of euro zone crisis recovery: “We are in the middle of the beginning of the end."

Thus far, it’s too early to claim the end of the euro zone crisis has come; nevertheless, there some good signs that show Europe to may have turned a corner in its struggle to restore financial stability.

The country attracted our attention today is Croatia, Internet and e-commerce infrastructure of which we are to study. Croatia, that has its capital in Zagreb, is a country located in Central Europe and Southeastern Europe at the crossroads of the Pannonian Plain, the Balkans, and the Adriatic Sea. The country borders Slovenia to the north, Hungary to the northeast, Bosnia and Herzegovina to the southeast, Serbia to the east, and Montenegro to the southeast.

Well, today, the country Internet and e-commerce infrastructure of which we are to explore is Slovakia. Slovakia, that has capital in Bratislava, represents a landlocked country bordered by the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east and Hungary to the south. The country is a current member of the EU since 2004, having adopted euro in January 2009. It’s also a member of NATO, United Nations, OECD and WTO among others.

Today, we are to consider the Internet and e-commerce infrastructure of one of the EU members - Hungary that over the last few days has shined on the world arena over its potential debt crisis. Hungary represents a landlocked country in the Carpathian Basin in Central Europe, bordered by Austria, Slovakia, Ukraine, Romania, Serbia, Croatia, and Slovenia, with the capital in Budapest. Being an EU member since 2004, the country also is one of representatives of NATO, OECD, V4. It’s also a Schengen state.

Wednesday in Singapore, bullion prices climbed to within sight of a record above $1,250 an ounce struck the previous day, with dealers considering gold to be likely to consolidate before any charge higher.

Spot gold was at $1,238.05 an ounce by 6:24 GMT, up $4.42 from New York's notional close on Tuesday, when it rose as high as $1,251.20 marking its highest ever.

Monday, in early European trading the alpine currency revealed mixed presence amid its rivals. The franc thus eased from a new record high against the euro, but it recovered from a 6-day low against the yen and the dollar. Against the pound, the franc pared its recent gains.

Monday in Singapore, bullion recouped from previous lows. At the same time, bullion priced in euro striking a record after the single currency slumped, but trade was likely to remain erratic as investors  watch currencies gyrate.

In early Asian session the 16-nation unit lost ground versus its key counterparts as investors dumped the risk-sensitive common currency on worries about a potential debt crisis in Hungary that revived concerns over the fiscal health of the EU. The euro tumbled to more than an 8- 1/2 -year low against the yen, fresh 4-year low against the dollar, new record low against the franc and a fresh 1- 1/2 -year low against the pound.

Early on Wednesday in Singapore, bullion prices flat consolidating the previous session's 1% gain that followed safe-haven buying on persistent worries about Europe's.

Today, the country we are to explore is Slovenia, a country in Central Europe touching the Alps and bordering the Mediterranean, with the capital in Ljubljana. Slovenia borders Italy on the west, the Adriatic Sea on the southwest, Croatia on the south and east, Hungary on the northeast, and Austria on the north. Slovenia is a member of the EU, the Eurozone, the Schengen area, the Organization for Security and Co-operation in Europe, the Council of Europe, NATO, UNESCO, WTO, and UN.

Thursday in Singapore, gold gained some ground, but still hovered around $50 below its record high, while the world's largest gold-backed ETF rose to a lifetime high as investors sought safety from turmoil in the financial markets.

Wednesday in Singapore, bullion prices fell despite diminishing euro after attempts to revisit last week's highs failed, stirring concerns the gold may be ready for a correction.

Spot gold hit an intraday high of $1,227.10 an ounce before falling to $1,213.70 by 2:50 GMT, down $6 from New York's notional close on Tuesday.