Carnival of the Blancs Moussis Laetare of Stavelot

This is an interesting parade, not to be missed. If you are in the mood for a quick vacation, this is the time - Belgium has a number of events during this time -- come over an spend a couple of days, indulge in some of the finest Beer and chocolates...

Blanc-Moussis, literally means "clad in White".The carnival mocks the fifteenth century monks, who were forbidden from celebrating the carnival after a period of excessive freedom. The name originated in a simple "disguise" consisting of a white bed-sheet and a pillow. During the carnival, People dressed in this outfit, along with a pointed carrot nosed mask.

When : From 21st March 2009 to 23 March 2009

Program :

Saturday : the procession starts from 8 PM

Sunday : At 2:00 PM, the procession leaves from Stavelot

5:30 pm - Rondo of Blancs-Moussis

8:00 pm Fireworks at Laetare

10:00 pm - Nuit Blanche of Blancs-Moussis

Monday :

3:00 pm Music Program (Folklore)

9:30 pm Prize distribution

More Information at opt.be

Bruges - Belgium Tourism

Recently I came across two excellent posts about Bruges tourism. ( A brief review of the posts is included below)

In case you are coming from London, Eurostar has about 10 Trains a day (0870 186 186) from st. Pancras to Brussels midi. The journey takes around 2 Hours and the "return ticket" would cost around 59 pounds. From Brussels, there are a number of trains to Bruges ( trip takes less than an hour).

Some of the recommended hotels are :
The PAND Hotel at Pandreitje ( 18th century townhouse in the middle of bruges).
Hotel Boterhuis at St. Jakobsstraat (cheaper)

Shopping Areas :
Zuidandstraat and Steenstraat ( for apparals etc).
Katelijnestraat - pralinique de Bruges (Chocolates)

Here's the Links :

Bruges - Pubs, Concertgebouw, Shopping, Diamond Museum, Lace Center, Sint Salvators etc.

48 Hours in Bruges : Interesting article from "The Independent" newspaper, UK

Opel may close Antwerp Plant

According to an AFP report, Troubled car maker is planning to close three plants including the one in Antwerp to tide over the current crisis. 11000 employees from the three locations - Eisenach, Antwerp and Bochrum may lose their jobs. The same report also claims that politicians in Germany have some concerns regarding the 4 Billion Euro Aid requested by Opel- they believe that the aid may end up in Detroit ( Opel being a subsidiary of GM).

Opel ( Adam Opel GmbH) was formed in 1863 in Germany and was famous for Bicycles and sewing machines. It went into vehicle production in 1899-99 in association with Lutzmann. In 1929 , GM bought the company from the Opel family for 33 Million USD.

A Vintage Cabriolet (circa 1931 )

New Agreement - Fortis , BNP Paribas and Belgium

Fortis holding, SFPI/FPIM and BNP Paribas negotiated a new set of revised terms for the transaction on 6th March 2009. However, the terms require the approval of FORTIS shareholders. The major features of the revised terms are as follows :

Fortis holding will sell 25% of the shares in Fortis Insurance Belgium (FIB) to Fortis Bank for EUR 1,375. ( current valuation of FIB would be 5.5 Billion Euros).

• The agreement will be in force until 2020 and cannot be terminated unilaterally.Fortis Holding and BNP Paribas would work together in the field of insurance transactions and Fortis would be designated as the preferred commercial partner of BNP.
• Fortis Bank would get a representation in the Board of Directors of FIB.
• SPV will purchase 2 Billion Euro worth of Structured Credit portfolio of Fortis Bank.. Fortis holding will doesn’t have to make the upfront payment of2.35 billion Euros ( CASHES instrument settlement)

Background :
Belgium is selling unprofitable Fortis banking operations to BNP Paribas. This was triggered by the Lehman brothers bankruptcy and problems at Fortis and Dexia SA.BNP Paribas initially agreed to acquire Fortis assets in Luxembourg and Belgium for 14.5 Billion Euros, however this proposal ran into some rough weather because of the opposition by Fortis Shareholders