UPDATE 1-EU panel backs Glaxo's cervical cancer vaccine

(Reuters) - Europe's largest drugmaker said an expert committee at the
European Medicines Agency had given a positive opinion on
Cervarix based on data from clinical trials involving the
vaccination of girls and women aged between 10 and 25.




Recommendations for marketing approval by the agency's
Committee for Medicinal Products for Human Use are normally
endorsed by the European Commission within a couple of months.


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EU Carbon Emission Permits Fall Near Two-Month Low As Allocations Raised

(Bloomberg) -- European Union carbon dioxide permits
for 2008 fell near a two-month low after the European Commission
raised the allocation of emission allowances for Ireland and
Latvia in the five years through 2012, increasing supply.

The July 13 increase boosts the total number of permits
allocated by 1.08 million tons of carbon dioxide a year. Permits
for December 2008 fell 19 cents, or 1 percent, to 19.70 euros
($27.12) a ton at 10:19 a.m. local time on the European Climate
Exchange in Amsterdam.


Read more at Bloomberg Energy News

EU Says Stronger Euro Isn't Obstacle to Growth in Trade, Rebuffing France

(Bloomberg) -- The European Commission said the
euro's appreciation can't be blamed for poor export performance,
rejecting complaints by French President Nicolas Sarkozy that
the currency shared by 13 countries is too strong.

``The fact that some euro-area countries have performed
much better than others sharing the same currency is evidence
that the exchange rate plays only a limited role in the export
performance of the individual countries,'' the commission, the
European Union's executive arm in Brussels, said today in a
quarterly report on the economy.


Read more at Bloomberg Currencies News

European Union Signals Support for New German Emission-Credit Import Limit

(Bloomberg) -- European Union regulators signaled a
readiness to approve a higher limit on Germany's imported
emission credits after the country decided to sell 9 percent of
new allowances instead of giving them away.

The German government aims to allow imported credits
covering emissions of about 90 million metric tons a year in
2008-2012. The European Commission, the EU's regulatory arm,
must endorse the limit, which is 20 percent of Germany's total
allowances to emit 453 million tons of carbon dioxide a year and
22 percent of the country's free permits.


Read more at Bloomberg Energy News

RPT-China trade deal may help EU telecoms operators

(Reuters) - China told the EU it would make available a list of
value-added telecoms services that domestic and foreign
companies can apply for, the European Commission said on
Thursday as it published agreed results of ministerial-level
talks.




"This is very significant," said Pascal Kerneis, head of the
European Service Forum, which represents EU service providers.


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