Thu. Oct 17th, 2024

NEWS & BACKGROUND

ON THE TOP

crowdfunding, crowd, investment

Retail investment package: EU Council agrees on its position

The package introduces a new concept of ‘Value for Money’ to ensure that investment products are offered to retail clients only if they offer good value for money. Furthermore, the Council wants remove the proposed ban on ’inducements’ (often called “commissions” or “retrocession fees”) received for execution-only sales wihout advice is provided to the investor.

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LATEST NEWS TICKER

BUSINESS

U.S Government publishes National Action Plan on Responsible Business Conduct

The Biden-Harris Administration has released the 2nd U.S. National Action Plan (NAP) on Responsible Business Conduct. The plan shall reflect a commitment to strengthen and improve respect for human rights and labor rights, expand use of green energy, counter corruption, protect human rights defenders, advance gender equity and equality, and promote rights-respecting use of technology.

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ISIL(Da’esh) and Al-Qaeda: EU Council adds a person and an entity to its autonomous list of sanctions

The Council decided today to add Mohamed Ibrahim al-Shafi’i Al-Salem, also known as Aba Al-Sahraoui, and Katiba Macina to the EU autonomous list of persons, groups, undertakings and entities associated with ISIL(Da’esh) and Al-Qaeda, subject to EU restrictive measures. Aba Al-Sahraoui is the leader of ISIL-affiliated group ‘Islamic State Sahel Province’, which primarily operates in the tri-border area of Burkina Faso, Niger and Mali. Katiba Macina is an affiliate of Al-Qaeda and its associated group Jama’a Nusrat Ul-Islam Wa Al-Muslimin (JNIM). It is active in the Sahel, in particular in Central Mali, Niger and Burkina Faso.

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EU Commission clears acquisition of Rügenwalder by Pfeifer & Langen

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Rügenwalder Mühle Carl Müller GmbH & Co. KG and RM Vermögensverwaltungs GmbH & Co. KG (‘Rügenwalder’) by Pfeifer & Langen Industrie- und Handels- KG (‘Pfeifer & Langen’), all of Germany. The transaction relates primarily to the food sector, in particular to the processing and preserving of meat substitutes.

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EU Commission clears creation of joint venture by CIP, PHPL and MIESCOR

The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Connect Infrastructure Pte. Limited (‘CIP’), PTCI Holdings Pte. Limited (‘PHPL’), both of Singapore, and Meralco Industrial Engineering Services Corporation (‘MIESCOR’) of Philippines.
The transaction relates primarily to the leasing of space on telecommunications towers in the Philippines.

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Combatting violence and harassment in the workplace: EU Council invites EU countries to ratify ILO convention

EU Council has adopted a decision inviting member states to ratify the International Labour Organization’s convention on violence and harassment (ILO convention 190). Violence and harassment in the workplace is a widespread and persistent phenomenon around the world: more than one in five people have experienced violence and harassment at work, whether physical, psychological or sexual, with women being particularly at risk.

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European Semester: EU Commission publishes reviews for six Member States to assess macroeconomic imbalances 

The 2024 Alert Mechanism Report (AMR) adopted in November 2023 as part of the European Semester Autumn package selected 12 Member States for which an IDR should be prepared. The European Semester is the European Union’s framework for the coordination and surveillance of economic and social policies. The remaining six IDRs for France, Germany, Greece, Hungary, Italy, and Portugal will be published in the coming weeks.

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pie chart, diagram, 3d

Eurobarometer: Positive perceptions about the economy and the quality of life in the EU regions

The Commission published today a Flash Eurobarometer conducted at the regional level, showing that EU citizens look positively at the economic situation and the quality of life in their region. Over eight out of ten Europeans (82%) say that the quality of life in their region is good. At the same time, 65% of Europeans say that the current situation of the economy of their region is good.

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Finland: Residence permit processing time reduced by half 

The development measures of the employment and economic development services (TE services), the Finnish Immigration Service and the Ministry of Economic Affairs and Employment reduced the processing time of residence permits for employed persons to an average of 41 days in February 2024 from the previous year’s figure of 77 days. A faster processing time for favourable decisions is particularly significant. In February 2024, the average processing time was 23 days for first permits and 21 days for extended permits.

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EU leaders discuss agricultural and economic challenges in Brussels

The European Council discussed the challenges facing agriculture and the concerns raised by farmers. EU leaders noted that the EU’s own agricultural production is key to food security and to the Common Agricultural Policy. Farmers must have a stable and predictable framework. EU leaders called for rapid action to reduce the administrative burden for farmers and to ensure a fair income for farmers by strengthening farmers’ position in the food supply chain. They discussed the need to help Ukraine export grain outside the EU so that Ukraine can get much-needed revenue without affecting the sales of EU farmers. 

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Bosnia and Herzegovina: EU Council extends framework for restrictive measures until March 2026

The European Union will therefore keep its ability to impose targeted restrictive measures on individuals or entities who undermine the sovereignty, territorial integrity, constitutional order and international personality of Bosnia and Herzegovina. Restrictive measures can also be imposed against those who seriously threaten the security situation in the country, or undermine the Dayton/Paris General Framework Agreement for Peace.

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DIGITIZATION

SECURITY

Moldova establishes National Cybersecurity Agency with e-Governance Academy Expertise

The newly formed Agency will be responsible for implementing state policies on cybersecurity, ensuring high security for the networks and information systems of critical service providers. As part of its mandate, the Agency will form a national cyber incident response team and establish a national contact point to facilitate interaction between national authorities and public institutions with similar authorities in other countries. Additionally, the Agency will contribute to increasing citizens’ awareness and education in the field of cybersecurity.

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JHA: Agreement to reform the EU’s migration and asylum system 

The agreement to thoroughly reform the EU’s legal framework on migration and asylum has been one of the main achievements of the Spanish presidency of the Council, which has also strengthened the citizenship orientation and democratic values of the Area of Freedom, Security and Justice. After several years of negotiations, an agreement has been reached at the end of the Spanish six-month period between the Council and the European Parliament on the main political elements of five key regulations of the Migration and Asylum Pact.

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protective suit, face mask, face shield

UN: ‘Act on the lessons of COVID-19’, Guterres says on Epidemic Preparedness Day 

The Secretary-General said these efforts are making progress. He recalled that the High-level meeting on Pandemic Prevention, Preparedness and Response, held in September, concluded with a robust political declaration which complements negotiations underway towards a pandemic accord. This first-ever global agreement aims to enhance collaboration, cooperation, and equity in responding to pandemics of the future, WHO chief Tedros Adhanom Ghebreyesus said in his end-of-year message published on Tuesday.

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Ukraine: Andriy Yermak had a phone call with the National Security Advisor to the President of South Africa

On the instructions of President of Ukraine Volodymyr Zelenskyy, Head of the Presidential Office Andriy Yermak had a phone call with National Security Advisor to the President of the Republic of South Africa Sydney Mufamadi. Andriy Yermak thanked his interlocutor for the active participation in the meetings at the level of advisors on the implementation of the Ukrainian Peace Formula. The parties exchanged views on preparations for the next meeting of the national security advisors and key events to implement the points of the Peace Formula next year.

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Zelenskyy: We must strengthen Ukraine to the point where Russia feels that every one of their strikes will face our retaliation 

According to the President, this year, thanks to the Ukrainian defense industry enterprises, the production of weapons and equipment has tripled compared to last year. There is also an extremely significant increase in the production of ammunition, particularly for artillery. Systematic deployment of ammunition manufacturing for domestic drones is underway, while the quantitative and qualitative indicators of missile production have grown as well. Next year, special attention will be paid to the production of explosives and powders, which are in short supply worldwide.

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Russia: Mikhail Mishustin holds strategic session on space exploration

“The President also gave instructions to distribute the mechanisms of state support developed for industrial investment projects to the rocket and space sector, and take measures to expand exports. We consider the countries of Africa, Asia, the Middle East, and Latin America as the main potential markets. It is important to keep in mind that the development of the space sector is backed by people. It is our people who achieve these goals using their knowledge and labour. During my visit to the Lavochkin Research and Production Association and a meeting with its employees, we discussed their concerns in detail, including those of young people who are only beginning their career in the sector.”

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Gaza: Southern areas ‘bursting at seams’ amid new wave of bombing 

Aid missions to supply Gaza have become increasingly difficult amid reports of continued heavy bombing of the Strip overnight by the Israeli military and intense clashes “in most areas” with Hamas fighters, UN humanitarians warned on Wednesday. Locations in the north and south of the enclave were hit as Israeli ground forces also reportedly pushed into central areas, along with the firing of rockets by Palestinian armed groups into Israel, prompting concerns from the UN agency for Palestinian refugees, UNRWA, about the safety of civilians uprooted time and again. 

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Gaza: France concerned by the Israeli authorities’ announcement 

France is gravely concerned by the Israeli authorities’ announcement of an intensification and continuation of fighting in Gaza, at a time when systematic bombardment has again caused a very large number of civilian casualties in recent days. France strongly reiterates its call for an immediate truce leading to a ceasefire. The framework of international law requires clear principles of distinction, necessity, proportionality and precaution, everywhere and at all times, in order to spare civilians. Israel must take practical measures to protect the lives of Gaza’s civilians.

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UN: France welcomes the appointment of a humanitarian coordinator for Gaza

In accordance with resolution 2720, which emphasizes the pressing need to deliver more humanitarian relief to Gaza’s civilian populations, and in view of the tragic situation facing civilians in Gaza, France calls on Israel to facilitate the delivery of aid throughout the Gaza Strip and to take urgent measures to guarantee complete, safe, unhindered humanitarian access. France also reiterates its call for an immediate truce leading to a ceasefire.

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Russia: Government extends export quotas for iron and steel scrap and waste

Russian Government has extended the tariff rate quota for iron and steel scrap and waste exports outside of the Eurasian Economic Union until 30 June 2024. This decision is part of the Government’s consistent export control policy for metals used in manufactured goods. Under the new resolution, the quota for iron and steel scrap and waste exports at 600,000 tonnes. Within this quota, the export duty is set at 5 percent or at least 15 euros per tonne. For exports above the established quota, the duty will be 5 percent or 290 euros per tonne, whichever is greater.

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Russia: Defence Minister’s report to the President on the Ukrainian attack on Feodosia

“Earlier, the Defence Ministry reported that the large landing ship Novocherkassk, stationed in Feodosia, had been damaged last night, as Russian military units were repelling an attack by the Ukrainian armed forces involving air-launched guided missiles. While repelling the air strike, air defence units destroyed two enemy Su-24 tactical bombers (that had launched the guided air-to-surface missiles) near Zhovten, located 125 kilometres northeast of Nikolayev.”

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SUSTAINABILITY

Russia: two years after the full-scale invasion, EU adopts 13th package of individual and economic sanctions

This package focuses on further limiting Russia’s access to military technologies, such as for drones, and on listing additional companies and individuals involved in Russia’s war effort. This is an unprecedented package of 194 individual designations, including 106 individuals and 88 entities. With it, the EU exceeds the threshold of 2000 listings, dealing a huge blow to those who enable Russia’s illegal war against Ukraine. 

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the bottle, plastic, segregation

Insight EU Environment Monitoring 21 February 2024

PLASTICS: Less than one-fifth of EU plastic was recycled in 2019, but 2025 targets can be still reached +++ GREEN TRANSITION: La présidente von der Leyen et le vice-président exécutif Šefčovič président le troisième dialogue sur la transition propre, axé sur les technologies propres +++ SUSTAINABILITY: The European Commission appoints a new Principal Adviser for G7 and G20 Sustainable Development Agendas for its Directorate-General International Partnerships +++ ECDC: Dr Pamela Rendi-Wagner nominated new Director of ECDC

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Insight EU Energy Monitoring 21 February 2024

RENEWABLES: Eurostat: Electricity from renewable sources up to 41% in 2022 +++ IAEA: World’s First Nuclear Energy Summit +++ IAEA Director General Grossi Statement on Zaporizhzhya Nuclear Power Plant +++ More than 280 civil society groups urge the EU and G7 to stop funding the militarization of Russia in the wake of 2 years of aggression in Ukraine +++ WIND ENERGY: NIB backed by InvestEU finances a 186 MW onshore wind farm in northern Finland

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Study confirms that EU trade opens new commercial opportunities for EU agri-food exporters

The study acknowledges that some sensitive sectors, notably beef, sheep meat, poultry, rice and sugar, are expected to face increased competition by the ten partners referred to in the study. This conclusion validates the current EU approach of systematically protecting sensitive sectors with carefully calibrated tariff rate quotas (TRQs). This essential tool in trade agreements can help mitigate possible market disruptions, thus providing protections to EU farmers and agri-food producers.

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Statement: Executive VP Šefčovič on the results of the first mid-term tender under the EU Energy Platform

Innovative clean technologies are the backbone of the green transition, and they will play an increasing role in the EU’s economy.
We therefore focused our minds on very practical issues, such as the necessary regulatory framework to enhance domestic manufacturing capacity, speedy access to financing to leverage private investment, and ways to secure skilled workforce.  

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EU Commission invests over €233m in Strategic Environment and Climate Projects across Europe

Today, the Commission is investing over €233 million in twelve new Strategic Projects across Europe under the LIFE programme to support the implementation of the EU’s environmental and climate ambitions under the European Green Deal. These Strategic Projects are expected to mobilise substantial additional funds from other EU sources, including agricultural, structural, regional and research funds, as well as from national governments and private sector investment.

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Press statement by EU Commission President with Swedish PM Kristersson

The first topic we will discuss is, of course, the unwavering support for Ukraine. And here, I must commend you for the fact that last week you announced a package of military support for Ukraine from Sweden worth EUR 710 million. From the very beginning on, you have been a staunch supporter of Ukraine, and thank you for that. We will also discuss the topic of defence. European citizens want more Europe in defence. For us, it is very clear that it is important to have your opinion in the run-up of the European defence industrial strategy that the Commission will put forward in a couple of weeks.

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Clean Tech Industry Dialogue: Opening speech by EU Commission President  

At the beginning of this week, on Tuesday, I was at the European Industry Summit in Antwerp. It was organised by the Belgian Presidency. It was an excellent summit. The main message was: Yes, the industry supports the climate goals of 2050 and 2040. We support the Green Deal. It is not a discussion about the ‘what’. We want to be involved in the discussion about the ‘how’ we are getting here. And this is exactly why we are sitting here today, and this is our task.

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air pollution, global warming, mask

Insight EU Environment Monitoring 20 February 2024

AIR POLLUTION: EU Commission welcomes provisional agreement for cleaner air in the EU +++ Air quality: EU Council background on deal to strengthen standards in the EU +++ EU Parliament background on deal to improve air quality +++ The EU greenlights stricter air pollution rules to protect citizens’ health, thanks to S&Ds +++ EU-Abgeordneter Lins (CDU) zur Trilogeinigung bei der  Luftqualitätsrichtlinie +++ Air Quality Directive: Deal on stricter air pollution limits: A bitter-sweet victory.

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EU AGENDA

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