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The European Commission adopted a € 314 million package of projects to support agriculture and improve the food security situation in 23 developing countries across the globe. This is the first financing decision in the framework of the € 1 billion Food Facility which was adopted at the end of last year as a response to the growing food security problems faced by many developing countries.

The Bloomberg Euro-Zone Retail Purchasing Managers' Index, based on a mid-month survey of more than 1,000 executives in the euro area retail sector, provides data one month ahead of government-issued figures. The PMI rose from 42.3 in February to 44.1 in March, signaling the smallest monthly drop in the value of sales in five months. The first quarter has seen an average monthly decline that was less steep than the record drop seen during Q4 of last year. The March decline remained strong by the survey's historical standards, and sales have now fallen for ten consecutive months.

From January to February, the profits of industrial enterprises above designated size (enterprises with an annual sales over 5 million yuan, same as follows) reached 219.1 billion yuan, decreased by 37.3 percent over the same period of the previous year.

EU Member States expressed their support for a Commission proposal to reduce the electricity consumption of circulators - which will save the equivalent of Ireland's yearly electricity consumption - during today's Ecodesign Regulatory Committee meeting. The Regulation is expected to create 7,000 jobs and make electricity savings of €2.2 billion by 2020.

Regional and state unemployment rates were nearly all higher in February. Forty-nine states and the District of Columbia recorded over-the-month unemployment rate increases, while all 50 states and the District of Columbia had higher rates than a year earlier, the Bureau of Labor Statistics of the U.S. Department of Labor reported. The national unemployment rate rose from 7.6 percent in January to 8.1 percent in February, which was 3.3 percentage points higher than a year earlier.

The Conference Board Leading Economic Index™ (LEI) for Mexico declined 1.3 percent and The Conference Board Coincident Economic Index™ (CEI) for Mexico decreased 1.7 percent in January.

After a rough end to 2008, 2009 looks to be a promising year for the renewable energy industry. Companies are and will be facing a few challenges, but the market is expected to rise once again. In the new economic climate, the sector will have to adapt to the factors facing the world economy, including scarce financial resources, high interest rates, and shattered investor's confidence.

The Eurosystem, which comprises the European Central Bank (ECB) and 16 national central banks of the euro area, is publishing a set of expectations for different stakeholders regarding the future progress of the Single Euro Payments Area (SEPA) project. The expectations, developed as a response to requests for guidance received throughout 2008, provide support for banking communities and payment institutions. They should also provide users with guidance regarding the adjustment of their payment-related activities and what they can expect from their bank or payment institution. The Eurosystem’s expectations are not, however, intended to be formal requirements or legally binding.

This month’s new vehicle sales (including fleet sales) are expected to be 774,000 units, a 42.7 percent decrease from March 2008 and a 12.7 percent increase from February 2009, according to Edmunds.com.

Would you quit your job if you won the lottery? With the U.S. economy ailing and companies laying off millions of Americans who are anxiously searching for employment, a new CIGNA survey shows that for the majority of Americans, work means a lot more to them than a paycheck to cover the bills.