Benchmarks are widely used by companies and investors in the EU as references in their financial instruments or contracts. This legislation amends a regulation from 2016 regarding the scope of the rules for benchmarks, the use of benchmarks provided by administrators located in third countries, and certain reporting requirements.
The EU Commission instructs Spain not to pay any compensation based on the arbitration award. The decision also requires Spain to ensure that no payment, execution, or implementation of the arbitration award otherwise takes place. The decision recalls the obligation for national judges to assist Spain to ensure compliance with the Commission’s decision.
On 21 March 2025, the Bank of Russia Board of Directors decided to keep the key rate at 21.00% per annum while official inflation in February stood at 10.1%. This disparity and the discrepancy compared to US Fed and ECB interest rates raises questions about the underlying risks in Russia’s war economy and confirms the impact of global sanctions.
The EU Commission has launched a consultation to help determine the best approach for the application of the EU’s framework on market risk prudential requirements for banks. The Fundamental Review of the Trading Book (or FRTB) introduced by Basel III aims to incorporate more sophisticated risk measurement techniques, allowing for closer alignment between capital charges and the actual risks banks are facing in their activities in capital markets.
The EU Council has adopted a new law to improve collection of labour market statistics on businesses at EU level. In particular, the new rules will ensure that these statistics are more up-to-date and comparable across countries. They also provide for better coverage of the economy, and ensure that data is collected on the gender pay gap.
This OECD report provides an overview of the efforts made to expedite the movement, release, and clearance of goods at the border in 163 economies. Progress on trade facilitation – as measured by the OECD Trade Facilitation Indicators (TFIs) – is occurring in all regions as countries seek to ensure that global supply chains remain efficient, adaptable, and responsive to evolving patterns of trade.
Consumer protection: A contractual term obliging a young sportsman to transfer part of his income if he becomes a professional athlete may be unfair. The national court must assess the unfairness of such a term by taking into account, in particular, whether or not that term is plain and intelligible as regards the financial consequences of the commitment.
“Turning to our network of Free Trade Agreements, which has a key role to play in boosting Europe’s competitiveness. We already boast 44 preferential trade agreements covering 76 countries and 44% of EU trade. And this network is set to grow, as many around the world turn to the European Union as a reliable, open partner, in an increasingly polarized economic climate” – EU Commissioner Šefčovič.
The Financial Crimes Enforcement Network (FinCEN) removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act.
Members of the European Conservatives and Reformists Group gathered in Subiaco, Italy, for the second edition of the ECR event “Rooted Principles, Stronger Future – The Heritage of Saint Benedict in the Values of European Conservatism”. The gathering reaffirmed the enduring values that lie at the heart of the European conservative tradition.
The European Investment Bank (EIB) today agreed a series of measures to further boost investment in security and defence and critical raw materials. The EIB’s Board of Directors also approved a total of €8.9 billion of new financing for port and rail projects, education, energy and grid upgrades, water and business investment.
On Friday, European Council President António Costa, EU Commission President Ursula von der Leyen and EU High Representative Kaja Kallas had a video conference with the Prime Minister of Iceland, Kristrún Frostadóttir, the Prime Minister of Norway, Jonas Gahr Støre, the President of Türkiye, Recep Tayyip Erdoğan, and UK Prime Minister Keir Starmer.
EU Commissioner Kubilius said the EU is opening new defence investment channels, with €600 billion in national spending still unregulated. EU loans will support procurement from European companies, including subsidiaries of third-country firms. For the first time, countries like the UK and Canada could also benefit if they sign defence partnerships with the EU.
EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, Michael McGrath, is travelling to Budapest, Hungary next week, where he will meet with representatives of the government, the judiciary and with civil society and media stakeholders.
On Monday 24 March, the European Commission and the European Parliament will organise a joint conference in Brussels bringing together stakeholders and representatives from different levels of government to start a policy dialogue on affordable housing.
The Belgian economy was resilient to a series of shocks, but growth has been slowing, and core inflation remains persistent. Labor productivity growth remained sluggish, and labor-cost competitiveness has declined. Successive shocks have increased structural fiscal deficits and public debt. Risks arising from deepening geoeconomic fragmentation and intensification of regional conflicts affecting energy, trade and financial spillovers could worsen the outlook.
While fundamentals remain strong, Luxembourg’s economic performance has been lackluster during 2022-24. A tepid recovery is underway, supported by public consumption. But there are risks of setbacks stemming from weaker external demand and higher financial market volatility, alongside domestic challenges in the real estate sector and fiscal pressures.
European Council President António Costa, European Commission President Ursula von der Leyen, and German Chancellor Olaf Scholz reflect on the outcomes of this week’s European Council meeting. Discover the key takeaways from their statements and the complete conclusions of the meeting.
This new funding builds on more than €100 million the European Union has already invested in independent media since 2017. It highlights the EU’s long-term commitment to Ukrainian media, ensuring their continued ability to operate independently, produce high-quality journalism, and fight disinformation.
Coordinated by the European Commission, the Consumer Protection Cooperation Network (CPC) has launched an enforcement action against Star Stable Entertainment AB to ensure a safer, more transparent experience for players of the Star Stable Online game.
The European Commission has imposed countervailing duties on imports of aluminium road wheels from Morocco, shielding EU producers and defending 16,600 jobs from unfair trading practices. The imports were found to be unfairly subsidised, including via China’s Belt and Road Initiative (BRI), and as such were harming the EU industry.
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