The EU Council adopted today a new law on cybersecurity requirements for products with digital elements with a view to ensuring that products, such as connected home cameras, fridges, TVs, and toys, are safe before they are placed on the market (cyber resilience act).
Global oil demand increased by 870 kb/d in 2Q24, with a contraction in China limiting gains. Demand is set to rise by less than 1 mb/d in both 2024 and 2025. This is largely unchanged from last month’s Report but far slower than last year’s 2.1 mb/d growth as comparatively lacklustre macroeconomic drivers come to the fore.
The EU wants European wind farms to be built using turbines that are made in Europe. The Net Zero Industry Act requires 36 GW of wind energy manufacturing capacity in the EU by 2030. To achieve this, we must urgently strengthen the competitiveness of Europe’s wind industry or risk not being able to produce the volumes of wind turbines that Europe needs.
These are the headlines of our weekly Insight EU Finance Monitoring, published last Saturday. 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 European Investment Bank (EIB) and Intesa Sanpaolo have agreed on a new initiative with the potential to unlock investment of up to €8 billion for the European wind industry. It forms part of the EIB’s €5 billion wind power package, a plan announced by the EU bank at COP28 in Dubai and activated in July, and it is the first agreement under this package supported by InvestEU.
The new legislative framework marks a significant step forward in the EU’s fight against financial crime, with a harmonised and single AML/CFT rulebook, and the establishment of AMLA, a dedicated EU anti-money laundering authority.
The meeting took stock of Montenegro’s progress on the rule of law chapters – Chapter 23 on Judiciary and Fundamental Rights, and Chapter 24 on Justice, Freedom and Security – and provided guidance on the work ahead.
The Council has adopted today its negotiating mandate on the regulation for compulsory licensing for crisis management. A compulsory licence is the possibility for a government to allow a third party to use an intellectual property right without the authorisation of the rights-holder.
Viatris’ OTC European business includes a wide range pharmaceuticals products for personal hygiene. Cooper is ultimately owned by CVC Capital Partners SICAV-FIS S.A. (‘CVC’) and, together with several CVC portfolio companies, manufactures and distributes OTC, consumer health and consumer self-care products.
The Greens and European Free Alliance (EFA) MEPs have agreed to continue 25 years of cooperation and reconstitute the Greens/EFA Group in the European Parliament. Also, five Volt MEPs are joining the Greens/EFA Group.
The EU in Kosovo notes with regret that three Draft Laws which are scheduled for a second reading tomorrow by the Kosovo Assembly, have not taken into account the EU’s comments aimed at improving them and ensuring compliance with European standards and best practices.
The first-ever Swedish minister-led business delegation visited Ukraine this week. The delegation was headed by Minister for International Development Cooperation and Foreign Trade Johan Forssell.
The European Commission has approved, under EU State aid rules, a €265 million Swedish measure made available in part through the Recovery and Resilience Facility (‘RRF’) to support H2GS AB in setting up a large-scale green steel plant.
As described in the investigation, Al-Huda Bank has for years exploited its access to U.S. dollars to support designated foreign terrorist organizations, including Iran’s Islamic Revolutionary Guard Corps (IRGC) and IRGC-Quds Force, as well as Iran-aligned Iraqi militias Kata’ib Hizballah and Asa’ib Ahl al-Haq.
Thanks to the new hub, cities that have already received the EU Cities Mission Label will be able to access financial advice in cooperation with advisory services of the European Investment Bank (EIB); structure their financial needs so they understand various ways of funding projects, and iIntroduce projects to a range of capital providers.
Yesterday, a new EU-funded mobile cargo scanner was delivered to the Hungarian-Ukrainian border crossing point in Chop to improve the flow of trade. Valued at approximately €2.5 million, the donation is part of the EU-Ukraine Solidarity Lanes.
The EU Commission has published the 2024 Convergence Report in which it provides its assessment of the progress non-euro area Member States have made towards adopting the euro. The report covers the six non-euro area Member States that are legally committed to adopting the euro: Bulgaria, Czechia, Hungary, Poland, Romania, and Sweden.
The EU Council adopted today a new law on cybersecurity requirements for products with digital elements with a view to ensuring that products, such as connected home cameras, fridges, TVs, and toys, are safe before they are placed on the market (cyber resilience act).
Given the complexity of these intelligent machines, AI safety is correspondingly much more complex. Experience from other technologies can therefore be our guide. Take the history of atomic energy and the nuclear bomb. Scientists discovered quantum physics which led to nuclear energy – good – but also with societal risks, and also to the atomic bomb.
EU Court of Auditors Special report 24/2023: Smart cities – Tangible solutions, but fragmentation challenges their wider adoption +++ Sonderbericht 24/2023 des EU-Rechnungshof zu Intelligenten Städten: Konkrete Lösungen, doch Fragmentierung erschwert deren breitere Übernahme +++ The biggest event on European territorial cooperation kicks-off in Spain to discuss the Interreg programmes
The Commission welcomes today’s agreement by G7 leaders on International Guiding Principles on Artificial Intelligence (AI) and a voluntary Code of Conduct for AI developers under the Hiroshima AI process. These principles and the voluntary Code of Conduct will complement, at international level, the legally binding rules that the EU co-legislators are currently finalising under the EU AI Act. President of the European Commission, Ursula von der Leyen, was among those who subscribed to the G7 leaders’ statement issued by the 2023 Japan G7 presidency.
We have all witnessed the recent emergence of new and highly sophisticated AI generative tools, such as ChatGPT (OpenAI). This technology, based on Large Language Models (LLMs), is here to stay and will undoubtedly have a massive impact on the world of work and on the societies in which we live. Generative AI tools are already starting to effect the way many of us work, whether in the public or private sector.
The EU and Japan have concluded, on the margins of the G7 Trade Ministerial in Osaka, a landmark deal to make doing business in the online world easier, less costly and more efficient.
Experts with deep experience across government, the private sector, technology, civil society, and academia have been tasked with supporting UN efforts to ensure Artificial Intelligence (AI) is used for the greater good of humanity.
As part of their transparency obligations under the Digital Services Act (DSA), designated Very Large Online Platforms and Very Large Online Search Engines are due to publish their first transparency reports – and some did so already. The first seven platforms have already published their reports, and the rest have until 6 November to do so. These first seven platforms are Amazon, LinkedIn, TikTok, Pinterest, Snapchat, Zalando and Bing.
Today, the first Global Gateway Forum opened in Brussels. It brought together over 40 high-level Government representatives, financial institutions and business representatives to discuss the world’s investment needs, debate solutions and seal new deals. The panel discussions on the first day focused on green energy and hydrogen, research and education, critical raw materials and transport corridors.
A new paper into the capabilities and risks from frontier AI has been published for the first time by the UK Government today (Thursday 26 October), as the Prime Minister is set to give a speech on the global responsibility to address the risks head on and make the most of the opportunities AI can bring.
UNECE Forum of Mayors fosters city-to-city learning for regeneration and resilience, facilitating an inclusive multilateralism +++ UNECE helps Ukraine draft law to address housing challenges and develops municipal investment tracker for greater transparency in reconstruction projects +++ OECD: Smart City Data Governance: Challenges and the Way Forward +++ EU Commission on ECA Special Report “Smart Cities: : Tangible solutions, but fragmentation challenges their wider adoption” +++
Smart City Expo World Congress & Smart Cities Marketplace Forum.
EU Ministers of home affairs met in Luxembourg to discuss how to improve the EU’s return system. Also on the agenda was the entry/exit system and a draft law to prevent and combat child sexual abuse.
New European anti-money-laundering rules will change the EU’s financial crime prevention landscape for good. But what will change in practice?
Brussels, 25 April 2024 Today, Iliana Ivanova, Commissioner for Innovation, Research, Culture, Education and Youth, and Mehmet
The key decisions taken by the Commission are presented below and grouped by policy area. The Commission is also closing 76 cases in which the issues with the Member States concerned have been solved without the Commission needing to pursue the procedure further.
The disbursement follows a positive assessment by the EU Commission of agreed policy conditions linked to reforms in the area of judiciary, anti-money laundering, public finance management, business environment and agriculture, as well as reporting requirements to ensure the legal and efficient use of the EU funds.
The law speeds up investigations, particularly into serious organised crime, which often crosses borders, and makes the administration of justice more efficient.
The EU Parliament approved with 374 votes against 235 and 19 abstentions a new “due diligence” directive. The law requires firms and their upstream and downstream partners, including supply, production and distribution, to prevent slavery, child labour, labour exploitation, biodiversity loss, pollution, or destruction of natural heritage.
The new rules prohibit female genital mutilation and forced marriage and outline particular guidelines for offenses committed online, such as the disclosure of private information and cyberflashing.
The legislation adopted on Wednesday, already informally agreed upon with the Council, will bolster the European Union’s ability to detect, prepare for, and respond to cybersecurity threats and incidents.
The EU Parliament has adopted a package of laws strengthening the EU’s toolkit to fight money-laundering and terrorist financing. The new laws ensure that people with a legitimate interest get immediate, unfiltered, and free access to beneficial ownership information held in national registries and at EU level.
In total, 12 suspects have been formally identified and will be charged during an action day with the active support by Eurojust and Europol. Eurojust also assisted in setting up and financing a joint investigation team (JIT) into the case.
The European Commission transfers Simon Mordue to the function of Hors-Classe Adviser for the preparation and coordination of the Commission’s participation to the ‘Ukraine Peace Conference’ at the Commission’s Secretariat-General.
MEPs voted 537 in favour, 40 against and 28 abstentions for the updated and more harmonised rules, which will put all imports and a vast majority of export of firearms for civilian use under closer supervision.
The European Investment Bank (EIB) and Intesa Sanpaolo have agreed on a new initiative with the potential to unlock investment of up to €8 billion for the European wind industry. It forms part of the EIB’s €5 billion wind power package, a plan announced by the EU bank at COP28 in Dubai and activated in July, and it is the first agreement under this package supported by InvestEU.
Latest European figures show an upward trend in the number of cases of dengue imported from dengue-endemic regions, as well as an increasing number of local outbreaks of West Nile virus infections and dengue within the EU and the European Economic Area (EEA), the European Centre for Disease Prevention and Control (ECDC) reports.
Potent synthetic substances, new drug mixtures and changing patterns of use pose a growing threat in Europe. These are among the issues raised today by the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) as it launches its European Drug Report 2024: Trends and Developments.
As Europe strives to implement the European Green Deal while making sure that industry remains competitive on the global stage, this year the theme of the conference will be ‘Net-Zero competitiveness driving the EU energy transition’.
The transaction relates primarily to the development of offshore wind projects in the US.
The transaction mainly concerns the natural gas transportation sector.
This worrying trend, indicated by surveillance data, underscores the critical need for continued monitoring to inform treatment guidelines and control measures, and for ensuring the prudent use of antimicrobials, against the backdrop of increasing cases of gonorrhoea in Europe.
Destination Earth (DestinE) is a flagship initiative of the Commission, aiming to develop a highly accurate digital twin of the Earth.
EU Commissioner for Climate Action, Wopke Hoekstra, will be in Sweden to meet with national representatives and stakeholders including industrial, forestry and social partners and youth representatives.
The transaction relates primarily to petroleum refining, power generation, and wholesale distribution of refined petroleum products, mainly in Italy and Spain.
The transaction relates primarily to the creation and operation of onshore wind parks in Germany.
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