These are the headlines of our weekly Insight EU Finance Monitoring, published last Friday night. We publish the headlines of our Insight EU Monitoring mails delayed by several days. To receive real-time monitoring emails, subscribe to our annual target group full-text services on the Insight EU Store page.
The Biden-Harris Administration has announced preliminary terms with HP to support the development and commercialization of cutting-edge semiconductor technologies. The proposed investment would support expansion and modernization of existing campus and create over 250 manufacturing and construction jobs.
The U.S. Artificial Intelligence Safety Institute at the U.S. National Institute of Standards and Technology (NIST) announced agreements that enable collaboration on AI safety research, testing and evaluation with Anthropic and OpenAI. These first-of-their-kind agreements between the U.S. government and industry will help advance safe and trustworthy AI innovation for all.
Undersea infrastructure is vital in a global economy powered by data. 99% of the world’s data is transmitted through subsea cables. An estimated USD 10 trillion in financial transactions alone traverses these vast cable networks each day. As well as data cables, critical undersea infrastructure also includes electricity connectors and pipelines supplying oil and gas.
The European Commission’s plan to impose countervailing duties on electric vehicles (EVs) from China barely survived an EU Council vote on 4 October. This second Bruegel paper on this topic paper analyses the background and consequences of the Commission’s initiative that is seen critical by several EU Members States.
The EU Commission has approved, under the EU Merger Regulation, the acquisition of joint control of URUS Group LP (“URUS”), based in the United States, by CVC Capital Partners (“CVC”), based in Luxembourg, and Pon Holdings B.V. (“Pon”), based in the Netherlands.
The transaction mainly concerns the manufacture and supply of fuel cell light commercial vehicles and the supply of hydrogen refueling stations.
Following its assessment, the Commission has preliminarily concluded that the Netherlands has satisfactorily completed the 25 milestones and 5 targets set out in the EU Council Implementing Decision for the first instalment, including the first milestone of the Netherlands’ REPowerEU chapter.
Following a group meeting in Strasbourg on Monday evening, the European Conservatives and Reformists (ECR) Group announced that the vast majority of its members will vote in favour of the re-election of current President of the European Parliament Roberta Metsola.
The Eurogroup agreed on a statement on the economic and budgetary situation in the euro area as well as the fiscal policy stance for 2025. President Donohoe presented the Eurogroup work programme until March 2025. The Eurogroup heard Enrico Letta’s perspective, followed by an exchange of views about the funding gap for investments to enhance competitiveness.
Following an impressive recovery from shocks in recent years, tight monetary and fiscal policies have slowed domestic demand growth, strengthened the current account, and started to lower inflationary pressures.
The European Union and Jordan held the fifteenth meeting of their Association Council on 15 July 2024 in Brussels, in which they reviewed their increasingly dynamic and multifaceted partnership.
A coalition of 31 leading European business associations has come together to call for an ambitious and open trade policy to support the EU’s competitiveness and economic prosperity. In a Joint Declaration, they highlight the importance of trade openness in driving economic growth, creating jobs, and enhancing resilience in the face of global challenges.
Shorter settlement cycles, or T+1 as experts commonly refer to it, is a topic that has kept growing in importance over the months. This is certainly the case since ESMA published the results of the call for evidence back in March this year, and even more so now that the US and other countries have moved to T+1 at the end of May.
These are the headlines of our weekly Insight EU Finance Monitoring, published Friday.
More than 45 European leaders will converge on Oxfordshire next week to discuss some of the most pressing generational issues facing Europe.
The green transition will significantly increase demand for key minerals over the coming decades. The impact on energy prices will ultimately depend on how supply adjusts. The European Central Banks’s Blog looks at the geopolitical risks involved.
Today, the EU Commission has adopted the second Work Programme for the digital part of the Connecting Europe Facility (CEF) Digital, which defines the scope and objectives of EU-funded actions to improve Europe’s digital connectivity infrastructures. These actions will receive around €865 million of funding from 2024 to 2027.
As a follow-up to the virtual meeting between Commissioner for Internal Market Thierry Breton and Canada’s Minister of Innovation, Science and Industry François-Philippe Champagne on 1st February, the EU and Canada discussed next steps for increased cooperation in cybersecurity, artificial intelligence (AI), quantum science and semiconductors, public policy related to online platforms, secure international connectivity, and cyber security.
Advanced robotic solutions to automate manufacturing processes. +++ IoT sensors, drones and AI solutions for precision agriculture +++ Vehicle-to-infrastructure and vehicle-to-vehicle communications solutions to enable vehicle autonomy, and improve traffic flow in our congested cities +++ Sensors, trackers, and computer vision tools for retailers to manage inventory, improve warehouse operations, and coordinate along the supply chain.
The U.S. National Institute of Standards and Technology (NIST) has updated the widely used Cybersecurity Framework (CSF), its landmark guidance document for reducing cybersecurity risk. The new 2.0 edition is designed for all audiences, industry sectors and organization types, from the smallest schools and nonprofits to the largest agencies and corporations — regardless of their degree of cybersecurity sophistication.
Artificial intelligence is increasingly becoming part of our daily lives. For that reason, the presidency is dedicating its first citizens’ panel to the issue. Here we present the current European approach to AI.
With the Memorandum of Understanding, the European Parliament and ENEX seek to strengthen the collaboration between Parliament’s communication services and ENEX’s headquarters, to increase awareness and cooperation of each other’s services and to foster direct contacts.
EU Member States, with the support of the Commission and ENISA, the EU Agency for Cybersecurity, presented a report on the cybersecurity and resilience of the EU communications infrastructures and networks.
The future competitiveness of Europe’s economy depends on these advanced digital network infrastructures and services, since fast, secure, and widespread connectivity is essential for the deployment of the technologies that will bring us into tomorrow’s world: telemedicine, automated driving, predictive maintenance of buildings, or precision agriculture.
Unprecedented in its scale and ambition, the RRF was established in February 2021 and has the two-fold objective of helping Member States to recover from the COVID-19 pandemic, as well as bolstering their resilience and making our economies and societies greener, more digital and more competitive. In short, fit for the future. It has also been vital in addressing urgent challenges, such as the knock-on impact of Russia’s war of aggression against Ukraine.
Commissioner for Internal Market Thierry Breton and Moldovan Deputy Prime Minister and Minister of Economic Development and Digitalisation Dumitru Alaiba have yesterday afternoon signed an association agreement for the Digital Europe Programme with Moldova. Following the signatures, and upon the completion of the related ratification processes, the association agreement will enter into retroactive effect as of 1 January 2024. Businesses, public administrations and other eligible organisations in Moldova will be able to access the calls of the Digital Europe Programme, a programme with an overall budget of €7.5 billion in the 2021-2027 period.
In a coordinated action supported by Eurojust and Europol, judicial and law enforcement authorities from 10 different countries have severely disrupted LockBit, the world’s most active ransomware operation. Two members of the ransomware team have been arrested in Poland and Ukraine. In addition, law enforcement has compromised LockBit’s primary platform and other enabling infrastructure. This includes the takedown of 34 servers in the Netherlands, Germany, Finland, France, Switzerland, Australia, the United States and the United Kingdom.
Nine out of ten consumers have been affected by “dark commercial patterns” – manipulative online design tactics such as countdown timers, hidden fees, and subscription traps that influence consumer behaviour and often lead to unintended purchases or privacy compromises, a new OECD survey shows.
The funding will support food security and assistance for malnutrition, health care and protection, water, sanitation and hygiene, shelter and education activities, as well as the transportation of humanitarian workers and supplies to remote and inaccessible locations.
Mit dem Treffen in Meseberg setzten Präsident Macron und Bundeskanzler Scholz um, was sie zum 60. Jahrestag des Elysée-Vertrags miteinander vereinbart hatten: neben Klausurtagungen im Vollformat soll es immer wieder Begegnungen in kleineren Zusammensetzungen geben, um sich aktuellen Themen zu widmen.
“The governments of Spain, Norway and Ireland have chosen to cooperate with the Nukhba terrorists and bolster the terrorist monster – recognition of a Palestinian state constitutes the renunciation of our hostages”, said Israeli minister Katz.
The EU and Norway signed a Security and Defence Partnership. The declaration was signed by the High Representative for Foreign Affairs and Security Policy, Josep Borrell, on behalf of the European Union and by the Norwegian Ministers of Foreign Affairs and Defence.
“For over 30 years, Norway has been one of the strongest advocates of a Palestinian state. Norway’s recognition of Palestine as a state today represents a milestone in Norwegian-Palestinian relations”, said Norway’s Minister of Foreign Affairs Espen Barth Eide.
The Ukrainian Minister of Defence, Rustem Umerov, briefly intervened via VTC to report on the situation on the ground, and NATO Secretary General, Jens Stoltenberg, physically joined EU Defence Ministers to hold an informal discussion on the interplay between EU and NATO military support.
The EU Council today approved conclusions on EU security and defence in a context of an unprecedented combination of threats and challenges, such as Russia’s war of aggression against Ukraine, and increased tensions in the Middle East, the Sahel and other areas of the world.
The Foreign Affairs Council discussed the Russian aggression against Ukraine, after a VTC intervention by Ukraine’s Minister of Foreign Affairs Dmytro Kuleba. The EU ministers also had an informal exchange with the Ministers of the Arab Quint: Qatar, Jordan, Saudi Arabia, Egypt, the United Arab Emirates, as well as the Secretary General of the League of Arab States.
The EU Council today decided to not extend the European Union military partnership mission in Niger (EUMPM) beyond 30 June 2024, in view of the grave current political situation in the country.
The EU Council today established a new framework for restrictive measures against those responsible for serious human rights violations or abuses, repression of civil society and democratic opposition, and undermining democracy and the rule of law in Russia.
At the 8th edition of the Brussels Conference on ‘Supporting the future of Syria and the region’, the EU pledged €2.12 billion for 2024 and 2025. This assistance will support both Syrians inside Syria and those in neighbouring countries, as well as their host communities in Türkiye, Lebanon, Jordan, and Iraq.
Using illegal trafficking services will become a criminal offence that is punishable by effective, proportionate and dissuasive penalties. The new law also strengthens prevention measures as well as the support for and assistance to victims.
An international drought resilience conference has called for global collaboration to find actionable solutions to address the escalating threat of drought and water scarcity worldwide.
The scheme was originally approved by the EU Commission on 19 August 2022. Under the scheme, the compensation is granted to eligible companies through a partial refund of the indirect emission costs incurred between 2021 and 2030.
The EU Commission has approved a €45 million Portuguese scheme to encourage freight traffic to shift from road to rail. The purpose of the scheme is to promote the modal shift of freight transport to rail, which is a greener mode of transport.
The EU Commission has approved a €158 million Dutch scheme to support the investments for the production of equipment necessary to foster the transition to a net-zero economy, in line with the Green Deal Industrial Plan.
Today, the Commission authorised two genetically modified maize crops and renewed the authorisation for another genetically modified maize crop for food and animal feed.
The European Commission has approved, under EU State aid rules, a €3 billion (SEK 36 billion) Swedish scheme to support carbon capture and storage (‘CCS’) aimed at reducing carbon dioxide (‘CO2′) released during the combustion or processing of biomass (‘biogenic CO2′).
Following the publication of the revised REMIT, ACER has received numerous requests from stakeholders seeking clarification on the REMIT Implementing Regulation, especially its Annex, which outlines the information to be reported to ACER.
Meeting global goals for sustainable development, climate and energy security requires a substantial increase in capital investment in the energy sector. Debate on this topic tends to focus on the headline numbers, which are measured in the trillions. But in order to understand the prospects for a rise in investment, an essential starting point is understanding who is making investments in energy and who is financing these investments.
This week, Commissioner for Energy, Kadri Simson, will be in Chile and Argentina to step up cooperation with these two countries in the energy field, with a specific focus on renewables and hydrogen.
With just six years remaining to reach the Sustainable Development Goals (SDGs), global progress is alarmingly insufficient, with a mere 17 per cent of the targets currently on track, according to a new UN report released on Friday.
The 2024 edition of the International Energy Workshop (IEW) has concluded in Bonn, Germany last week, drawing energy modelling experts from across the globe. This year, the International Renewable Energy Agency (IRENA) hosted the event, which is regarded as a cornerstone for the international energy modelling research community.
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