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 EU Commission has approved a €5 billion German measure to support European Semiconductor Manufacturing Company (‘ESMC’) in the construction and operation of a microchip manufacturing plant in Dresden. ESMC is a joint venture between Taiwan Semiconductor Manufacturing Company (‘TSMC’), Bosch, Infineon, and NXP.
In 2022, hard coal for the first time was overtaken by solar energy in electricity generation in the EU. The proportion of solar energy in the EU’s total electricity production was 210,249 GWh compared with 205,693 GWh for hard coal.
The Secretary General of the International Civil Aviation Organization (ICAO), Mr Juan Carlos Salazar, and the Secretary-General of the World Meteorological Organization (WMO), Prof. Celeste Saulo, recently signed an update to the agreement that strengthens the longstanding collaboration between the two organizations.
The European Commission has today raised €11 billion of EU-Bonds in its 9th syndicated transaction for 2024. The dual-tranche transaction concerned a €5 billion tap of the EU-Bond maturing on 6 December 2027, and a €6 billion tap of the EU-Bond maturing on 4 October 2039.
Today, the EU Commission published two reports illustrating the European Union’s continued support for Cyprus’ reunification: the annual report on the implementation of the Green Line Regulation in Cyprus in 2023 (the ‘Green Line Report’) and the annual report on the implementation of the Aid Programme for the Turkish Cypriot Community in 2023 (the ‘Aid Programme Report’).
Cyprus’ third payment request concerns 12 milestones and 4 targets. It covers reforms that support investment initiatives, enhance the productivity and effectiveness of public administration, improve the system for issuing and transferring title deeds, and lead the digital transformation of the Cyprus Police Force.
Yesterday, the Commission received Portugal’s fifth payment request for an amount of €2.9 billion net of pre-financing, including €1.65 billion in grants and €1.25 billion in loans, under the Recovery and Resilience Facility (RRF).
The European Banking Authority (EBA) issued today new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.
Nine months after the initiation of its anti-subsidy investigation, the EU Commission has imposed provisional countervailing duties on imports of battery electric vehicles (BEVs) from China. Based on the investigation, the Commission has concluded that the BEV value chain in China benefits from unfair subsidisation, which is causing a threat of economic injury to EU BEV producers.
Marking a historic moment, one year ago today, Eurojust launched the International Centre for the Prosecution of the Crime of Aggression (ICPA) – a unique judicial coordination platform dedicated to supporting national investigations into the crime of aggression related to the war in Ukraine.
The term of office of Mr Irmantas Jarukaitis as judge was renewed. Mr Bernardus Smulders and Mr Fredrik Schalin were appointed for a first term of office as judges of the Court of Justice. Member states’ representatives also appointed Mr Rimvydas Norkus for a first term of office as advocate-general of the Court of Justice.
The centre-right European Conservatives and Reformists (ECR) Group in the European Parliament has been constituted. The Group elected Nicola Procaccini (Fratelli d’Italia, Italy) and Joachim Brudziński (PiS, Poland) as co-chairmen.
Canada is joining the growing group of non-EU countries who have associated to the EU’s research and innovation programme, Horizon Europe, and will work jointly on large-scale projects tackling our biggest challenges.
The Commission concluded that the notified transaction would not raise competition concerns, given that the companies are not active in the same or vertically related markets, and the limited impact on the market structure.
The European Banking Authority (EBA) today published the spring edition of its risk assessment report (RAR). The report covers the EBA’s common risk assessment as well as the analysis of banks’ asset encumbrance and funding plan data, which had previously been published in two separate reports.
The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of joint control of ITA Airways (‘ITA’) by Deutsche Lufthansa AG (‘Lufthansa’) and the Italian Ministry of Economy and Finance (‘MEF’). The approval is conditional upon full compliance with the remedies offered by Lufthansa and the MEF.
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.
The Data Act will ensure fairness in the digital environment by clarifying who can create value from data and under which conditions. It will also stimulate a competitive and innovative data market by unlocking industrial data, and by providing legal clarity as regards the use of data.
Member states’ EU ambassadors today agreed on the Council’s partial negotiating mandate on the proposed Strategic Technologies for Europe Platform (STEP). The platform will support investments in critical technologies in the fields of digital and deep tech, clean tech and biotech in the EU. It will reduce the EU’s strategic dependencies and enhance its long-term competitiveness.
Today, a clear path ahead has been set out for the development of new and robust regulations for medical devices in the UK. The new regulations will put patient safety first and help to ensure that patients continue to have access without delay to the devices they need, whilst enhancing the UK’s position as a world-leading environment for medical technology innovators. This new ‘roadmap’ for new regulations, from the Medicines and Healthcare products Regulatory Agency (MHRA), will enhance the UK’s ability to benefit from rapidly advancing medical technology, offering significant new opportunities for patients and healthcare.
All interested stakeholders are invited to share their experience and provide feedback on the level of competition in the context of virtual worlds and generative AI, and their insights on how competition law can help ensure that these new markets remain competitive.
The Regulation lays down measures for the establishment of an internal cybersecurity risk management, governance and control framework for each Union entity, and sets up a new Interinstitutional Cybersecurity Board (IICB) to monitor and support its implementation by Union entities.
Interoperable Europe Act: EU Council and Parliament strike a deal for more efficient digital public services across the EU +++ European Innovation Council: €1.2 billion for strategic technologies and scaling up companies +++ USPTO announces new Public Advisory Committee members to help advise agency and advance core mission of fostering and protecting innovation across America +++ USA: More than 200 responses received to Request for Comments on new outreach offices and services under Unleashing American Innovators Act +++ Skills Development Scotland: Co-designing the future of My World of Work +++ An integrated approach to evidence for those working to improve outcomes for children and families – Dartington
EU Commission proposal to strengthen the Single Market by tackling legal and administrative obstacles in Europe’s cross-border regions +++ Online cross-border procedures to be drastically simplified thanks to the Once-Only Technical System +++ Solidarity in action: Interreg programmes amended to increase funding and scope for cooperation with Ukraine and Moldova +++ JTP Groundwork delivered technical assistance in Latvia +++ Scoping for DUT Call 2024 – Open stakeholder consultation on Transition Pathway Priorities +++ Accelerate Europe’s Urban Transition. Share your Best Example of a Circular Urban Economy Case +++ CITY SURVEY: 9 out of 10 people satisfied with city living across Europe according to new Commission report.
The Parliamentary Under Secretaries of State at the Department for Business and Trade and the Department for Science, Innovation and Technology wrote to the Competition and Markets Authority (CMA) asking it to set out its plans and proposed timelines to implement the new Digital Markets competition regime as envisaged under Part 1 of the Digital Markets, Competition and Consumers Bill. The CMA has responded confirming that it will publish a document in line with the request in due course.
Adversaries can deliberately confuse or even “poison” artificial intelligence (AI) systems to make them malfunction — and there’s no foolproof defense that their developers can employ. Computer scientists from the U.S. National Institute of Standards and Technology (NIST) and their collaborators identify these and other vulnerabilities of AI and machine learning (ML) in a new publication.
The potential investment under the CHIPS and Science Act would shore up domestic supply of microcontroller chips and create over 700 new jobs. The terms concern supply the chain resilience for America’s automotive, defense, and aerospace industries.
Today, the EU launched a Humanitarian Air Bridge operation consisting of three flights from Dubai and Brindisi with the first one reaching Beirut on 11 October. The flights will transport EU-owned stocks including hygiene items, blankets and emergency shelter kits, among other items.
Mikhail Mishustin spoke at a State Duma meeting and answered questions from representatives of parliamentary parties after the President nominated him for Prime Minister of the Russian Federation (10 May 2024).
What if the high level nuclear waste generated by nuclear power plants could fuel a circular economy in the energy sector? Fast neutron reactors operating in a closed fuel cycle could make that happen.
The International Atomic Energy Agency (IAEA) is continuing to monitor observance of the five concrete principles aimed at protecting Ukraine’s Zaporizhzhya Nuclear Power Plant (ZNPP) during the military conflict, where nuclear safety and security remain precarious, Director General Rafael Mariano Grossi said today.
The European Union acknowledges the result of today’s momentous vote at the UN General Assembly concerning Palestinian application for membership of the United Nations where a majority of States voted in favour.
China and Sweden have a long history of economic and trade exchanges. At present, more than 10,000 Swedish enterprises are conducting trade with China and more than 600 Swedish enterprises are operating in China.
Xi said China highly valued Hungary’s “firm commitment to the One China policy”, and he pledged to provide China’s steady support for Hungary’s economic development.
“I promised that Europe would open up its borders, its homes and hearts to your families, your children, your loved ones, who were forced to flee. … We said we would help you to rebuild your cities, your towns, your villages. The adoption of the 50 billion euro Ukraine Facility is our most recent tangible support for that” – Roberta Metsola in Kyiv.
Prime Minister Viktor Orbán pointed out that there is a great opportunity to expand the cooperation between Hungary and China to the entire spectrum of the nuclear industry.
“There are tactical nuclear weapons in Belarus. For this reason, we offered our friends and allies to join us, and the President of Belarus also asked us to ensure that his country takes part in one of the stages of these drills” – Russian President Putin
“This is an anniversary summit, as we are celebrating the EAEU’s tenth anniversary. Cooperation within this international organisation has had a positive impact on all our countries, including Russia and Armenia” – Russian President Putin.
“At the occasion of the Europe’s day on the 9 May, some reflections from my part on the necessary paradigm shift for the EU in the dangerous geopolitical landscape we are now living in, between the Russian war of aggression against Ukraine and the war in the Middle East” – EU HR Borrell.
“For many years, Lithuania warned Europe about the dangers of Russia. After 2014, you told us that Putin would simply not stop. And Europe should have listened. It took us too long to wake up to the threat of Putin’s Russia. But today our Union stands firmly at your side, for freedom and against aggression” – EU Commission President von der Leyen in Vilnius.
On Thursday and Friday, EU Climate Commissioner Wopke Hoekstra will participate in the Pre-COP29 meeting in Baku, Azerbaijan. With just a month to go until the COP29 UN Climate Change Conference (11 – 22 November), this meeting is a key opportunity for ministers from across the globe to come together ahead of the formal UN climate negotiations.
On Friday, the Innovation Centre for Industrial Transformation and Emissions (INCITE) starts its operations in Seville, Spain. Led by the Commission’s Joint Research Centre (JRC), this new facility aims to provide independent and transparent information on the environmental performance of innovative techniques for industrial use.
A UNDP landmark public opinion research reveals an overwhelming majority around the world to support more ambitious efforts and to overcome geopolitical differences to fight climate crisis.
The consultation aims to gather evidence and different perspectives on the CFP from a range of stakeholders, including individuals, the fisheries and the maritime sectors, non-governmental and other organisations, and national administrations from Member States.
The EU Commission has launched the European Solar Academy, the first in a series of EU Academies to be set up under the Net-Zero Industry Act (NZIA) to have in place the necessary skills along the net-zero technologies value chains.
Today, the Commission took part in an exercise called “Cyber Europe”, designed to test the preparedness in case of a large-scale cyber-attack on Europe’s energy sector.
Under the regulation, biocidal products may not be advertised in a manner in which the indications may mislead the user in respect of the risks from those products to health or the environment or in respect of their efficacy.
“We must reinforce solidarity – with our farmers, and also with the international community, to maintain our contribution to global food supplies. In terms of solidarity with our farmers, the Commission has already worked to deliver on simplification, and to strengthen fairness in the supply chain” – EU Commissioner Wojciechowski.
While in Baku, Commissioner Hoekstra will meet with COP29 President-designate and Azerbaijani Minister for Ecology and Natural Resources, Mukhtar Babayev and the COP29 Presidency team.
The European Commission decided to register two European Citizens’ Initiatives, entitled ‘Air-Quotas’ and ‘Stop Destroying Videogames’. What do they want to achieve?
The aim of SDG 7 is to “ensure access to affordable, reliable, sustainable, and modern energy for all.” This report thus summarizes global progress on energy access, energy efficiency, renewable energy, clean cooking, and international cooperation.
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